Heikin Ashi & Swing Highs/LowsHeikin Ashi & Swing Highs/Lows
Indicator Description:
The "Heikin Ashi & Swing Highs/Lows" indicator combines Heikin Ashi candle analysis with the identification of significant swing highs and lows on the chart. This indicator is useful for traders looking to spot trend changes and key points in the market.
Key Features:
Heikin Ashi:
Calculation and Visualization: Utilizes the Heikin Ashi method to smooth out the candlestick chart, helping to visualize trends and reduce market noise. Heikin Ashi candles are calculated from the standard candles (Open, High, Low, Close) and are displayed on the chart with a green color for bullish signals and red for bearish signals.
Vertical Offset Adjustment: Provides options to adjust the vertical offset of the candles based on the selected timeframe, with specific adjustments for short, medium, long, and super-long periods.
Swing Highs/Lows:
Key Point Identification: Marks significant swing highs and lows on the chart using a configurable period. Swing highs are displayed in red and swing lows in green.
Candlestick Patterns: Detects and labels common candlestick patterns such as:
Hammer: A bullish candlestick pattern with a small body and a long lower wick.
Inverted Hammer: Similar to the Hammer, but with a long upper wick.
Bullish Engulfing: A two-candle pattern where a bullish candle completely engulfs a previous bearish candle.
Hanging Man: A bearish pattern with a small body and a long lower wick, appearing at the end of an uptrend.
Shooting Star: A bearish pattern with a small body and a long upper wick, appearing at the end of an uptrend.
Bearish Engulfing: A two-candle pattern where a bearish candle completely engulfs a previous bullish candle.
Settings:
Timeframe: Allows you to select the desired timeframe to adjust the Heikin Ashi candle analysis.
Vertical Offset: Customize the vertical offset of Heikin Ashi candles based on the selected timeframe.
Swing Point Style: Configure the colors of the significant swing highs and lows on the chart.
Recommended Use:
This indicator is ideal for traders looking for a clear representation of trends through Heikin Ashi candles and who want to identify key reversal points in the market by detecting swing highs/lows and candlestick patterns.
Benefits:
Facilitates the identification of smooth trends and trend reversals.
Provides a clear visual representation of critical market points.
Helps traders recognize important candlestick patterns that may indicate changes in market direction.
在腳本中搜尋"chart"
The Vet [TFO]In collaboration with @mickey1984 , "The Vet" was created to showcase various statistical measures of price.
The first core measurement utilizes the Defining Range (DR) concept on a weekly basis. For example, we might track the session from 09:30-10:30 on Mondays to get the DR high, DR low, IDR high, and IDR low. The DR high and low are the highest high and lowest low of the session, respectively, whereas the IDR high and low would be the highest candle body level (open or close) and lowest candle body level, respectively, during this window of time.
From this data, we use the IDR range (from IDR high to IDR low) to extrapolate several, custom projections of this range from its high and low so that we can collect data on how often these levels are hit, from the close of one DR session to the open of the next one.
This information is displayed in the Range Projection Table with a few main columns of information:
- The leftmost column indicates each level that is projected from the IDR range, where (+) indicates a projection above the range high, and (-) indicates a projection below the range low
- The "First Touch" column indicates how often price has reached these levels in the past at any point until the next weekly DR session
- The "Other Side Touch" column indicates how often price has reached a given level, then reversed to hit the opposing level of the same magnitude. For example, the above chart shows that if price hit the +1 projection, ~33% of instances also hit the -1 projection before the next weekly DR session. For this reason, the probabilities will be the same for projection levels of the same but opposite magnitude (+1 would be the same as -1, +3 would be the same as -3, etc.)
- The "Next Level Touch" column provides insight into how often price reaches the next greatest projection level. For example, in the above chart, the red box in the projection table is highlighting that once price hits the -2 projection, ~86% of instances reached the -3 projection before the next weekly DR session
- The last columns, "Within ADR" and "Within AWR" show if any of the projection levels are within the current Average Daily Range, or Average Weekly Range, respectively, which can both be enabled from the Average Range section
The next section, Distributions, primarily measures and displays the average price movements from specified intraday time windows. The option to Show Distribution Boxes will overlay a box showing each respective session's average range, while adjusting itself to encapsulate the price action of that session until the average range is met/exceeded. Users can choose to display the range average by Day of Week, or the Total average from all days. Values for average ranges can either be shown as point or percent values. We can also show a table to display this information about price's average ranges for each given session, and show labels displaying the current range vs its average.
The final section, Average Range, simply offers the ability to plot the Average Daily Range (ADR) and Average Weekly Range (AWR) of a specified length. An ADR of 10 for example would take the average of the last 10 days, from high to low, while an AWR of 10 would take the average of the last 10 weeks (if the current chart provides enough data to support this). Similarly, we can also show the Average Range Table to indicate what these ADR/AWR values are, what our current range is and how it compares to those values, as well as some simple statistics on how often these levels are hit. As an example, "Hit +/- ADR: 40%/35%" in this table would indicate that price has hit the upper ADR limit 40% of the time, and the lower limit 35% of the time, for the amount of data available on the current chart.
Magic Order Blocks [MW]Add a slim design, minimalist view of the most relevant higher and lower order blocks to your chart. Use our novel method of filtering that uses both the the number of consecutive bullish or bearish candles that follow the order block, and the number of ATRs that the asset’s price changed following the order block. View just the order blocks above and below the current price, or view the backgrounds for each and every one. And, if you're up to it, dig into a comprehensive view of the data for each order block candle.
Settings:
General Settings
Minimum # of Consecutive Bars Following Order Block
Show Bullish Order Blocks Below / Hide Last Bullish Block
Show Bearish Order Blocks Above / Hide Last Bearish Block
Use ATR Filter - Select # of ATRs Below
Closest Order Block is Followed by This Many ATRs
Preferences
Right Offset of Indicator Label
Show Mid-Line from Recent Order Block Indicator Label
Use ATRs Instead of Consecutive Candles in Label Indicator
Show Timestamp of Recent Order Block
Show Large Order Block Detail Labels
Show Small Order Block Labels
Background Settings
Show Background for Recent Order Block Indicator Label
# of Backgrounds to Show Before Now
Show All Bullish Order Block Backgrounds
Show All Bearish Order Block Backgrounds
Calculations
This indicator creates a matrix of each order block that is followed by the user-specified number of consecutive bullish or bearish candles. The data can be further filtered by the number of ATRs that the price moves after the order block - also user-defined. The most recent bearish order block above the current price takes arrays from the initial filtered matrix of arrays, filters once more by the “mid-price” of the order block (the average between the order block candle high and low) and selects the last element from this order block matrix. The same follows for the latest bearish order block above the current price.
How to Use
An order block refers to a price range or zone on a chart where large institutional orders have been placed, causing a significant shift in market direction. These zones are crucial because they often indicate areas of strong buying or selling interest, which can lead to future support or resistance levels. Traders use order blocks to identify potential points of market reversal or continuation.
The Magic Order Blocks default view shows the most recent overhead bearish order block above the current price, and the most recent bullish order block below. These can presumably act as support or resistance levels, because they reflect the last price where a significant price move occurred. “Significant” meaning that the order block candle was followed by many consecutive bullish or bearish candles. Based on the user-defined settings, it can also mean that price moved multiples of the asset's average true range (ATR). More consecutive candles means that the duration of the move lasted a long time. A higher ATR move indicates that the price moved impulsively in one direction.
The default view also shows a label to the right of the current price that provides the price level, the time stamp of the order block (optional), and a sequence of bars that show the significance of the level. By default, these bars represent the number of ATRs that price rose or fell following the order block, but they can be toggled to show the number of consecutive bullish or bearish candles that followed the order block.
Although the default view provides the zones that are most relevant to the current price, past order block candles can also be identified visually with labels as well with translucent backgrounds color-coded for bullish or bearish bias. Overlapping backgrounds can identify an area that has been repeatedly been an area of support or resistance.
A detailed view of each order block can also be viewed the includes the following data points:
Bar Index
Timestamp
Consecutive Accumulated Volume
Consecutive Bars
Price Change over Consecutive Bars
Price/Volume Ratio Over Consecutive Bars
Mid Price of Order Block
High Price of Order Block
Low Price of Order Block
ATRs over Consecutive Bars
- Other Usage Notes and Limitations:
The calculations used only provide an estimated relationship or a close approximation, and are not exact.
It's important for traders to be aware of the limitations of any indicator and to use them as part of a broader, well-rounded trading strategy that includes risk management, fundamental analysis, and other tools that can help with reducing false signals, determining trend direction, and providing additional confirmation for a trade decision. Diversifying strategies and not relying solely on one type of indicator or analysis can help mitigate some of these risks.
Things to keep in mind. Longer timeframes don’t necessarily have a as many consecutive candle drops or gains as with shorter timeframes, so be sure to adjust your settings when moving to 1 hour, 1 day, or 1 week timeframes from 1 minute, 5 minute, or 15 minute timeframes.
Reflected ema Difference (RED) This script, titled "Reflected EMA Difference (RED)," is based on the logic of evaluating the percentage of convergence and divergence between two moving averages, specifically the Hull Moving Averages (HMA), to make price-related decisions. The Hull Moving Average, created by Alan Hull, is used as the foundation of this strategy, offering a faster and more accurate way to analyze market trends. In this script, the concept is employed to measure and reflect price variations.
Script Functionality Overview:
Hull Moving Averages (HMA): The script utilizes two HMAs, one short-term and one long-term. The main idea is to compute the Delta Difference between these two moving averages, which represents how much they are converging or diverging from each other. This difference is key to identifying potential market trend changes.
Reflected HMA Value: Using the Delta Difference between the HMAs, the value of the short-term HMA is reflected, creating a visual reference point that helps traders see the relationship between price and HMAs on the chart.
Percentage Change Index: The second key parameter is the percentage change index. This determines when a trend is reversing, allowing buy or sell orders to be established based on significant changes in the relationship between the HMAs and the price.
Delta Multiplier: The script comes with a default Delta multiplier of 2 for calculating the difference between HMAs, allowing traders to adjust the sensitivity of the analysis based on the time frame being analyzed.
Trend Reversal Signals: When the price crosses the thresholds defined by the percentage change index, buy or sell signals are triggered, based on the detection of a potential trend reversal.
Visual Cues with Boxes: Boxes are drawn on the chart when the HullMA crosses the reflected HMA value, providing a visual aid to identify critical moments where risk should be evaluated.
Alerts for Receiving Signals:
This script allows you to set up buy and sell alerts via TradingView's alert system. These alerts are triggered when trend changes are detected based on the conditions coded in the script. Traders can receive instant notifications, allowing them to make decisions without needing to constantly monitor the chart.
Additional Considerations:
The percentage change parameter is adjustable and should be configured based on the time frame you are trading on. For longer time frames, it's advisable to use a larger percentage change to avoid false signals.
The use of Hull Moving Averages (HMA) provides a faster and more reactive approach to trend evaluation compared to other moving averages, making it a powerful tool for traders seeking quick reversal signals.
This approach combines the power of Hull Moving Averages with an alert system to improve the trader’s response to trend changes.
Spanish
Este script, titulado "Reflected EMA Difference (RED)", está fundamentado en la lógica de evaluar el porcentaje de acercamiento y distancia entre dos medias móviles, específicamente las medias móviles de Hull (HMA), para tomar decisiones sobre el valor del precio. El creador de la media móvil de Hull, Alan Hull, diseñó este indicador para ofrecer una forma más rápida y precisa de analizar tendencias de mercado, y en este script se utiliza su concepto como base para medir y reflejar las variaciones de precio.
Descripción del funcionamiento:
Medias Móviles de Hull (HMA): Se utilizan dos HMAs, una de corto plazo y otra de largo plazo. La idea principal es calcular la diferencia Delta entre estas dos medias móviles, que representa cuánto se están alejando o acercando entre sí. Esta diferencia es clave para identificar cambios potenciales en la tendencia del mercado.
Valor Reflejado de la HMA: Con la diferencia Delta calculada entre las HMAs, se refleja el valor de la HMA corta, creando un punto de referencia visual que ayuda a los traders a observar la relación entre el precio y las HMAs en el gráfico.
Índice de Cambio de Porcentaje: El segundo parámetro clave del script es el índice de cambio porcentual. Este define el momento en que una tendencia está revirtiendo, permitiendo establecer órdenes de compra o venta en función de un cambio significativo en la relación entre las HMAs y el precio.
Multiplicador Delta: El script tiene un multiplicador predeterminado de 2 para el cálculo de la diferencia Delta, lo que permite ajustar la sensibilidad del análisis según la temporalidad del gráfico.
Señales de Reversión de Tendencia: Cuando el precio cruza los límites definidos por el índice de cambio porcentual, se emiten señales para comprar o vender, basadas en la detección de una posible reversión de tendencia.
Visualización con Cajas: Se dibujan cajas en el gráfico cuando el indicador HullMA cruza el valor reflejado de la HMA, ayudando a identificar visualmente los momentos críticos en los que se debe evaluar el riesgo de las operaciones.
Alertas para Recibir Señales:
Este script permite configurar alertas de compra y venta desde el apartado de alertas de TradingView. Estas alertas se activan cuando se detectan cambios de tendencia en función de las condiciones establecidas en el código. El trader puede recibir notificaciones instantáneas, lo que facilita la toma de decisiones sin necesidad de estar constantemente observando el gráfico.
Consideraciones adicionales:
El porcentaje de cambio es un parámetro ajustable y debe configurarse según la temporalidad que se esté operando. En temporalidades más largas, es recomendable usar un porcentaje de cambio mayor para evitar señales falsas.
La utilización de las medias móviles de Hull (HMA) proporciona un enfoque más rápido y reactivo para evaluar tendencias en comparación con otras medias móviles, lo que lo convierte en una herramienta poderosa para traders que buscan señales rápidas de reversión.
Este enfoque combina la potencia de las medias móviles de Hull con un sistema de alertas que mejora la reactividad a cambios de tendencia.
ICT HTF FVGs v2 (fadi)NOTICE: Instead of updating the existing ICT HTF FVGs indicator, this indicator is being published separately due to the requests to keep the original by some traders and because of the drastic change in behavior/configurations. If the original v1 version is more appropriate for your style of trading, feel free to continue to use it.
ICT HTF FVGs v2
In trading, Fair Value Gaps (FVGs) refer to market inefficiencies or imbalances that occur when buying and selling activities are not equal. These gaps can be identified on various timeframes and are used in different trading strategies.
FVGs are crucial in price action trading as they highlight the difference between the current market price of an asset and its fair value. Traders use these gaps to identify potential trading opportunities, as they often indicate areas where the market may correct itself
This indicator will overlap the higher timeframe (HTF) FVGS over the current timeframe to help traders anticipate and plan their trades.
Features
Up to 6 higher timeframes (HTF) can be overlayed on a chart
Traders can limit the number of HTF FVGs to preset number of HTFs
Lower and current timeframes can be included
Configurable spacing of HTF FVGs to prevent overlapping
Configurable Smart Expansion of FVGs based on proximity to current price
Traders can decide what constitutes a Mitigated FVG
Show or hide mitigated FVGs to declutter the chart
Flexible display settings that controls how the FVGs are displayed
Flexible labeling of the FVG levels and content
Higher Timeframes Display Settings
This indicator provides the ability to select up to 6 HTF intervals. These intervals are based on the trader's timeframes including any custom timeframes.
Timeframe Configurations
Enable or Disable a Timeframe
The Timeframe to Display
Bullish / BISI FVG Color
Bearish / SIBI FVG Color
The number of FVGs For The Selected Timeframe
Limit to the next HTFs only can be used to display the selected number of HTF FVGs. For example, if the trader selects 3 then only 3 HTF FVGs will be displayed.
Note: If either of the next two options is selected, they will take up spots from this count.
Hide lower Timeframes restricts the FVGs to higher timeframes only. If this option is disabled, it will show lower timeframes FVGs as well.
Hide Current Timeframe removes current timeframe from the selected list of HTF FVGs. If this option is disabled, it will show current timeframe FVGs as well.
Background Transparency Enable or disable the background color (shaded area) of the FVG. If it is enabled, it will set the transparency amount. The higher the value, the more transparent the background.
Extend lines controls when and how to extend the FVG levels. There are three options:
Extension Only extends the FVGs by the specified number provided below only.
Current Candle Plus Extension extends all the FVGs beyond the current candle by the number provided below.
When in Range will only extend the FVGs near current price based on the advanced settings below. This setting will use Average True Range multiplier to calculate the range (shows FVGs that are higher or lower by the average candle size multiplied by the number in Advanced section).
Mitigated shows or hides the mitigated HTF FVGs. A FVG is considered mitigated based on one of the following options:
None will ignore mitigation and show all FVGs.
Touched when a HTF FVG is touched regardless of how deep the price get inside the FVG.
Wick filled the FVG is closed by a wick or body of a candle.
Body filled the FVG is closed by the body of a candle
Wick filled half a candle's wick or body has reached the C.E. of the FVG
Body filled half a candle body has reached the C.E. of the FVG
Extend mitigated lines sets the number of candles to extend the mitigated FVG levels by for better visibility.
Important Note: Mitigation is calculated based on the timeframe of the FVG, not current timeframe.
Display
Display settings focus on how the FVGs will be displayed. The trader is in total control and there are multiple ways to overlay FVGs on the chart.
Open / Close / C.E. / Link controls the borders. Traders can enable or disable any of them as well as set the thickness and style. Link is the right border.
C.E. also offers the option of setting the bullish (BISI) and bearish (SIBI) colors of the C.E. level
Labeling controls if the labels should be displayed next to the FVG, their color, background, and font size.
Label levels to display controls which levels to show. Open, High. or the C.E.
Label display content controls what to show in the labels, the timeframe of the label, is it a BISI or a SIBI, and a label to indicate if it is the Open or the Close.
Note: if the distance between the open and close has the potential of overlapping the labels, then the indicator will only show the C.E. label for visual clarity.
Advanced Settings
Advanced settings controls some internal calculations:
Proximity factor based on daily range used to calculate possible range of FVGs within a day's range to keep the chart clean. The higher the value, the more FVGs will be shown.
Combine labels factor for visibility used to calculate the distance between the open and close and if all the labels or only the C.E. should be displayed. The higher the value, the bigger the distance for combination (smaller numbers will show more labels).
Range should be within X candles used when "When in Range" option is selected. This is the ATR multiplier used to extend the FVGs. The higher the number, the more FVGs will be extended.
Once desired settings have been achieved, the settings can be saved as default from the bottom left of the indicator settings page for future use.
buysellsignal-yashgode9The "buysellsignal-yashgode9" indicator utilizes a signal library to generate buy and sell signals based on price action, allowing traders to make informed decisions in their trading strategies.
Overview of the Indicator
The "buysellsignal-yashgode9" indicator is a technical analysis tool that identifies potential buying and selling points in the market. It does this by leveraging a signal library imported from `yashgode9/signalLib/2`, which contains predefined algorithms for analyzing market trends based on specified parameters.
Key Features
1.Input Parameters: The indicator allows users to customize several parameters:
- Depth: Determines the number of bars to look back for price analysis (default is 150).
- Deviation: Sets the threshold for price movement (default is 120).
- Backstep: Defines how many bars to step back when evaluating signals (default is 100).
- Label Transparency: Adjusts the transparency of labels displayed on the chart.
- Color Customization: Users can specify colors for buy and sell signals.
2.Signal Generation: The core functionality is driven by the `signalLib.signalLib` function, which analyzes the low and high prices over the specified depth and deviation. It returns a direction indicator along with price points (`zee1` and `zee2`) that are used to determine whether to issue a buy or sell signal.
3. Labeling and Visualization:
- The indicator creates labels on the chart to indicate buy and sell points based on the direction of the signal.
- Labels are color-coded according to user-defined settings, enhancing visual clarity.
- The indicator also manages the deletion of previous labels and lines to avoid clutter on the chart.
4. Repainting Logic: The script includes a repainting option, allowing it to update signals in real-time as new price data comes in. This can be beneficial for traders who want to see the most current signals but may also lead to misleading signals if not used cautiously.
Conclusion:-
The "buysellsignal-yashgode9" indicator is a versatile tool for traders looking to enhance their decision-making process by identifying key market entry and exit points. By allowing customization of parameters and colors, it caters to individual trading preferences while providing clear visual signals based on price action analysis. This indicator is particularly useful for those who rely on technical analysis in their trading strategies, as it combines automated signal generation with user-friendly visual cues.
Benefits and Applications:
1.Intraday Trading: The "buysellsignal-yashgode9" indicator is particularly well-suited for intraday trading, as it provides accurate and timely buy and sell signals based on the current market dynamics.
2.Trend-following Strategies: Traders who employ trend-following strategies can leverage the indicator's ability to identify the overall market direction, allowing them to align their trades with the dominant trend.
3.Swing Trading: The dynamic price tracking and signal generation capabilities of the indicator can be beneficial for swing traders, who aim to capture medium-term price movements.
Security Measures:
1. The code includes a security notice at the beginning, indicating that it is subject to the Mozilla Public License 2.0, which is a reputable open-source license.
2. The code does not appear to contain any obvious security vulnerabilities or malicious content that could compromise user data or accounts.
NOTE:- This indicator is provided under the Mozilla Public License 2.0 and is subject to its terms and conditions.
Disclaimer: The usage of "buysellsignal-yashgode9" indicator might or might not contribute to your trading capital(money) profits and losses and the author is not responsible for the same.
IMPORTANT NOTICE:
While the indicator aims to provide reliable buy and sell signals, it is crucial to understand that the market can be influenced by unpredictable events, such as natural disasters, political unrest, changes in monetary policies, or economic crises. These unforeseen situations may occasionally lead to false signals generated by the "buysellsignal-yashgode9" indicator.
Users should exercise caution and diligence when relying on the indicator's signals, as the market's behavior can be unpredictable, and external factors may impact the accuracy of the signals. It is recommended to thoroughly backtest the indicator's performance in various market conditions and to use it as one of the many tools in a comprehensive trading strategy, rather than solely relying on its output.
Ultimately, the success of the "buysellsignal-yashgode9" indicator will depend on the user's ability to adapt it to their specific trading style, market conditions, and risk management approach. Continuous monitoring, analysis, and adjustment of the indicator's settings may be necessary to maintain its effectiveness in the ever-evolving financial markets.
Author:- yashgode9
PineScript-version:- 5
This indicator aims to enhance trading decision-making by combining DEPTH, DEVIATION, BACKSTEP with custom signal generation, offering a comprehensive tool for traders seeking clear buy and sell signals on the TradingView platform.
Prometheus Trend LinesPrometheus Trend lines is a tool that automatically plots support and resistance trend lines on your chart. These lines generally come out looking like triangles or wedges.
There are two ways that we do it, the first way we’ll cover is lookback period generated trend lines.
The two points for the lines are generated as follows, for a resistance line that is blue by default, the point furthest in the past is the highest high in the specified lookback period. 50 is the default, the point closest to the present is the current bar’s high. The opposite is true for support lines, the point furthest in the past is the lowest low, and the most present point is the current bar’s low.
The interval is created by ensuring after the lookback period is met to plot the lines, that period needs to pass again. That is so we can let the potential results of price breaking above or below the levels play out.
Lines will be plotted on the newest lookback period bar, after a period with no plot. What I mean is right after lines are plotted, users will have to wait for double the lookback period to get newer lines. So if you select 50 for your lookback value, after new lines are plotted, on the 100th bar after the new lines will be there. This is to avoid having a line on your chart change, we’d rather plot a line once, than plot it and keep changing it.
Each line is 50 bars long and all the distance in between them is 50 bars. The line is drawn simply with the shortest path from the back point to the more present one, this allows us to see breaks in the line and get a better idea of how strong the next move may be.
We see in this wedge on NASDAQ:TSLA that there were two false breaks before the price re-entered the wedge and continued falling. It could be interpreted as buyers did not have enough strength to get NASDAQ:TSLA out of a downtrend there.
We also offer an intra day line.
In this image captured with the bar replay feature we see the lines being generated with the high and low of the day, that is the method we use. Furthermore, a user may notice that the ends of the line are not at the newest bar. That is on purpose, we use the
barstate.islastconfirmedhistory
to ensure that we don’t change and plot too many lines at a given point. These two lines will reset every day as time changes and will auto use the current day high and low.
Users have the option to select a custom lookback period, as well as turn on or off the plots for either method of generating lines.
We encourage traders to not follow indicators blindly, none are 100% accurate. The lines generated are not guaranteed to be perfect support and resistance levels. We encourage the use of discretion. Please comment on any desired updates, all criticism is welcome!
Rainbow Histogram v1.01Sure! Here’s a compelling English version of the article for your TradingView post:
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### 🌈 **Introducing Rainbow Histogram: A Fusion of EMA and MA for Enhanced Trading Analysis**
**Hello Traders,**
I’m excited to introduce a fresh concept that combines technical analysis techniques into a new indicator called **Rainbow Histogram**. This innovative tool blends Exponential Moving Averages (EMA) and Moving Averages (MA) to provide you with a powerful and accurate tool for making trading decisions.
#### **🎨 What is Rainbow Histogram?**
The Rainbow Histogram is designed to help you identify market trends and signal precise entry and exit points by blending EMA and MA into a colorful "Rainbow" display. This visual approach enhances your ability to spot trend strength and direction with clarity.
#### **📈 How Does Rainbow Histogram Work?**
1. **Exponential Moving Average (EMA):** Captures short-term trends and reacts quickly to price changes.
2. **Moving Average (MA):** Tracks long-term trends and provides a broader view of the market direction.
**Rainbow Histogram** uses the combination of EMA and MA to create a histogram that shows the difference between these two averages in distinct colors. This makes it easy to visualize trend changes and market momentum.
#### **🔧 Setting It Up**
1. **EMA:** Adjust the EMA settings based on your trading timeframe and strategy (e.g., EMA 9, EMA 21).
2. **MA:** Set the MA parameters to capture long-term trends (e.g., MA 50, MA 200).
#### **🌟 Why Use Rainbow Histogram?**
- **Simplified Analysis:** Quickly identify trends and their strength with a clear visual representation.
- **Distinct Colors:** Differentiate between EMA and MA with vibrant colors for easy interpretation.
- **Precise Signals:** Get clear buy and sell signals based on histogram changes.
#### **📥 Get Started**
Add **Rainbow Histogram** to your TradingView charts by searching for the script in TradingView’s library or set it up manually using the recommended settings.
#### **📝 In Summary**
**Rainbow Histogram** is a unique tool that simplifies trend analysis and enhances accuracy by merging EMA and MA into a single, colorful indicator. Use this tool to refine your trading strategy and make more informed financial decisions.
If you have any questions or feedback about **Rainbow Histogram**, feel free to comment below or send me a message!
**Happy Trading!** 🌟
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I hope this version effectively captures attention and engages your audience!
N Bar Reversal Detector [LuxAlgo]The N Bar Reversal Detector is designed to detect and highlight N-bar reversal patterns in user charts, where N represents the length of the candle sequence used to detect the patterns. The script incorporates various trend indicators to filter out detected signals and offers a range of customizable settings to fit different trading strategies.
🔶 USAGE
The N-bar reversal pattern extends the popular 3-bar reversal pattern. While the 3-bar reversal pattern involves identifying a sequence of three bars signaling a potential trend reversal, the N-bar reversal pattern builds on this concept by incorporating additional bars based on user settings. This provides a more comprehensive indication of potential trend reversals. The script automates the identification of these patterns and generates clear, visually distinct signals to highlight potential trend changes.
When a reversal chart pattern is confirmed and aligns with the price action, the pattern's boundaries are extended to create levels. The upper boundary serves as resistance, while the lower boundary acts as support.
The script allows users to filter patterns based on the trend direction identified by various trend indicators. Users can choose to view patterns that align with the detected trend or those that are contrary to it.
🔶 DETAILS
🔹 The N-bar Reversal Pattern
The N-bar reversal pattern is a technical analysis tool designed to signal potential trend reversals in the market. It consists of N consecutive bars, with the first N-1 bars used to identify the prevailing trend and the Nth bar confirming the reversal. Here’s a detailed look at the pattern:
Bullish Reversal : In a bullish reversal setup, the first bar is the highest among the first N-1 bars, indicating a prevailing downtrend. Most of the remaining bars in this sequence should be bearish (closing lower than where they opened), reinforcing the existing downward momentum. The Nth (most recent) bar confirms a bullish reversal if its high price is higher than the high of the first bar in the sequence (standard pattern). For a stronger signal, the closing price of the Nth bar should also be higher than the high of the first bar.
Bearish Reversal : In a bearish reversal setup, the first bar is the lowest among the first N-1 bars, indicating a prevailing uptrend. Most of the remaining bars in this sequence should be bullish (closing higher than where they opened), reinforcing the existing upward momentum. The Nth bar confirms a bearish reversal if its low price is lower than the low of the first bar in the sequence (standard pattern). For a stronger signal, the closing price of the Nth bar should also be lower than the low of the first bar.
🔹 Min Percentage of Required Candles
This parameter specifies the minimum percentage of candles that must be bullish (for a bearish reversal) or bearish (for a bullish reversal) among the first N-1 candles in a pattern. For higher values of N, it becomes more challenging for all of the first N-1 candles to be consistently bullish or bearish. By setting a percentage value, P, users can adjust the requirement so that only a minimum of P percent of the first N-1 candles need to meet the bullish or bearish condition. This allows for greater flexibility in pattern recognition, accommodating variations in market conditions.
🔶 SETTINGS
Pattern Type: Users can choose the type of the N-bar reversal patterns to detect: Normal, Enhanced, or All. "Normal" detects patterns that do not necessarily surpass the high/low of the first bar. "Enhanced" detects patterns where the last bar surpasses the high/low of the first bar. "All" detects both Normal and Enhanced patterns.
Reversal Pattern Sequence Length: Specifies the number of candles (N) in the sequence used to identify a reversal pattern.
Min Percentage of Required Candles: Sets the minimum percentage of the first N-1 candles that must be bullish (for a bearish reversal) or bearish (for a bullish reversal) to qualify as a valid reversal pattern.
Derived Support and Resistance: Toggles the visibility of the support and resistance levels/zones.
🔹 Trend Filtering
Filtering: Allows users to filter patterns based on the trend indicators: Moving Average Cloud, Supertrend, and Donchian Channels. The "Aligned" option only detects patterns that align with the trend and conversely, the "Opposite" option detects patterns that go against the trend.
🔹 Trend Indicator Settings
Moving Average Cloud: Allows traders to choose the type of moving averages (SMA, EMA, HMA, etc.) and set the lengths for fast and slow moving averages.
Supertrend: Options to set the ATR length and factor for Supertrend.
Donchian Channels: Option to set the length for the channel calculation.
🔶 RELATED SCRIPTS
Reversal-Candlestick-Structure.
Reversal-Signals.
MACD with DPO Strategy by NGExplanation of the MACD with DPO Strategy:
MACD (Moving Average Convergence Divergence):
The MACD is a trend-following indicator that shows the relationship between two moving averages of a price.
In this script:
We calculate the MACD line by subtracting the slow moving average (typically 26-period EMA) from the fast moving average (typically 12-period EMA).
The Signal line is calculated as a 9-period EMA of the MACD line.
The Histogram is the difference between the MACD line and the Signal line, indicating the momentum of the price trend.
Buy Condition: The script generates a buy signal when the MACD histogram crosses from negative to positive (indicating a bullish momentum) and DPO is also positive.
Sell Condition: The script generates a sell signal when the MACD histogram crosses from positive to negative (indicating a bearish momentum) and DPO is also negative.
DPO (Detrended Price Oscillator):
The DPO removes long-term trends from prices, making it easier to identify shorter-term cycles or oscillations.
In this script:
We calculate the DPO by subtracting a shifted simple moving average (SMA) from the close price. The shifting period depends on half the specified period.
We also calculate the DPO SMA as a 30-period EMA of the DPO values.
DPO Color: The DPO line is colored green when the DPO is above zero (indicating upward momentum) and red when it is below zero (indicating downward momentum). The histogram is also colored based on whether the DPO is positive or negative.
Plotting and Alerts:
The script plots the MACD, Signal, and Histogram on the chart.
Additionally, it plots the DPO and its SMA with different colors depending on whether the DPO is above or below zero.
Buy Signal: A green arrow labeled "BUY" is plotted below the bar when both MACD and DPO indicate a bullish condition.
Sell Signal: A red arrow labeled "SELL" is plotted above the bar when both MACD and DPO indicate a bearish condition.
Background colors are used to highlight the chart whenever a buy or sell condition occurs.
The script also includes alerts for both buy and sell signals, allowing users to set notifications when conditions are met.
How to Use:
Identify Buy and Sell Signals:
The script generates a Buy signal when:
The MACD histogram crosses from negative to positive (bullish momentum), and
The DPO is above zero (indicating upward momentum).
The script generates a Sell signal when:
The MACD histogram crosses from positive to negative (bearish momentum), and
The DPO is below zero (indicating downward momentum).
Chart Visualization:
The MACD histogram and Signal line help visualize the momentum and potential trend reversal.
The DPO and DPO SMA help visualize the shorter-term price cycles.
The signals (Buy and Sell) will be plotted on the chart with arrows indicating entry points.
Customization:
You can adjust the MACD and DPO parameters (such as fast_length, slow_length, period_) to fit your trading style or market conditions.
The script can be used in any timeframe depending on your strategy (e.g., intraday trading or longer-term trading).
Example Scenario:
If you're looking for potential buy opportunities, wait for the script to generate a buy signal (green arrow) where the MACD histogram has shifted to positive, and DPO is also in the green (above zero). This signals that both momentum and cycle direction are aligned for a potential upward movement.
Conversely, for sell opportunities, wait for the red arrow where MACD momentum is turning negative and DPO is also negative (below zero), indicating a bearish condition.
This combination of MACD and DPO allows traders to identify stronger and more reliable entry/exit points by confirming the trend with the MACD and detecting shorter-term price cycles with the DPO.
Auto Fib Retracement [Syafiq.Jr]This TradingView script is an advanced indicator titled "Auto Fib Retracement Neo ." It's designed to automatically plot Fibonacci retracement levels on a price chart, aiding in technical analysis for traders. Here's a breakdown of its functionality:
Core Functionality :
The script identifies pivot points (highs and lows) on a chart and draws Fibonacci retracement lines based on these points. The lines are dynamic, updating in real-time as the market progresses.
Customizable Inputs :
Depth: Determines the minimum number of bars considered in the pivot point calculation.
Deviation: Adjusts the sensitivity of the script in identifying new pivots.
Fibonacci Levels: Allows users to select which retracement levels (236, 382, 500, 618, 786, 886) are displayed on the chart.
Visual Settings: Customization options include the colors and styles of pivot points, trend lines, and the retracement meter.
Pivot and Line Calculation:
The script calculates the deviation between the current price and the last pivot point. If the deviation exceeds a certain threshold, it identifies a new pivot and draws a trend line between the previous pivot and the current one.
Visual Aids :
The indicator provides extensive visual aids, including pivot points marked with circles, dashed trend lines connecting pivots, and labels displaying additional information like price and delta rate.
Performance :
Optimized to handle large datasets, the script is configured to process up to 4000 bars and can manage numerous lines and labels efficiently.
Background and Appearance :
The script allows for customization of the chart background color, enhancing visibility based on user preferences.
In essence, this script is a powerful tool for traders who rely on Fibonacci retracement levels to identify potential support and resistance areas, allowing for a more automated and visually guided approach to market analysis.
Helacator Ai ThetaHelacator Ai Theta is a state-of-the-art advanced script. It helps the trader find the possibility of a trend reversal in the market. By finding that point at which the three black crows pattern combines with the three white soldiers pattern, it is the most cherished pattern in technical analysis for its signal of strong bullish or bearish momentum. Therefore, it is a very strong predictive tool in the ability of shifting markets.
Key Highlights: Three White Soldiers and Three Black Crows Patterns
The script identifies these candlestick formations that consist of three consecutive candles, either bullish (Three White Soldiers) or bearish (Three Black Crows). These patterns help the trader identify possible trend reversal points as they provide an early signal of a change in the market direction. It is with great care that the script is written to evaluate the position and relationship between the candlesticks for maintaining the accuracy of pattern recognition. Moving Averages for Trend Filtering:
Two important ones used are moving averages for filtering any signals not in accordance with the general trend. The length of these MAs is variable, allowing the traders to be in a position to adapt the script for use under different market conditions. The moving averages ensure that signals are only taken in the direction that supports the general market flow, so it leads to more reliability within the signals. The MAs are not plotted on the chart for the sake of clarity, but they still perform a crucial function in signal filtering and can be displayed optionally for a more detailed investigation. Cooldown filter to reduce over-trading
This is part of what is implemented in the script to prevent generation of consecutive signals too quickly. All this helps to reduce market noise and not overtrade—only when market conditions are at their best. The cooldown period can be set to be adjusted according to the trader's preference, making the script more versatile in its use. Practical Considerations: Educational Purpose: This script is for educational purposes only and should be part of a comprehensive trading approach. Proper risk management techniques should be observed while at the same time taking into consideration prevailing market conditions before making any trading decision.
No Guaranteed Results: The script is aimed at bringing signal accuracy into improvement to align with the broader market trend and reducing noise, but past performance cannot guarantee future success. Traders should use this script within their broad trading approach. Clean and Simple Chart Display: The primary goal of this script is to have a clear and simple display on the chart. The signals are prominently marked with "BUY" and "SELL," and the color of the bars has changed according to the last signal, thus traders can easily read the output. Community and Open Source Open Source Contribution: This script is open for contribution by the TradingView community. Any suggestions regarding improvements are highly welcomed. Candlestick patterns, moving averages, and the combination of the cooldown filter are presented in such a way as to give traders something special, and any modifications or extra touch by the community is appreciated. Attribution and Transparency: The script is based on standard technical analysis principles and for all parts inspired by or derivated from other available open-source scripts, credit is given where it is due. In this way, transparency ensures that the script adheres to TradingView's standards and promotes a collaborative community environment.
FVG Price & Volume Graph [LuxAlgo]The FVG Price & Volume Graph tool plot recently detected fair value gaps relative to the volume traded within their area during their formation. This allows us to effectively visualize significant fair value gaps caused by high liquidity.
The indicator also returns levels from the fair value gaps areas average with the highest associated volume.
Do note that the indicator can consider the chart's visible range when being computed, which will recalculate the indicator when the chart's visible range changes.
🔶 USAGE
Fair Value Gaps (FVG) are core price action concepts occurring when the disparity between supply and demand is significant. Price has a tendency to come back to those areas and mitigating them, that is filling them.
The provided tools allow for effective visualization of both FVG's area's height as well as the volume originating from their creation, which is defined by the total traded volume located within the FVG during its creation. FVG's with more associated volume are displayed to the rightmost of the chart.
Users can determine the amount of most recent FVG's to display from the "Display Amount" setting. Disabling the "Consider Mitigation" setting will return mitigated FVGs in the plot, which can be useful to know where most FVGs were located.
We can use the area average of the FVGs with the most associated volume as potential support/resistance levels. Users can extend more FVG's averages by increasing the "Highest Volume Averages" setting.
🔹 Visualizing Volume/Price Relationships of FVG's
A linear regression is fit between FVG's areas average and their associated volume, with this linear regression helping us see where FVG's with specific volume might be located in the future based on existing FVG's.
Note that FVG's do not tend to exhibit linear relationships with their associated volume, the provided linear regression can give a general sense of tendency, but nothing necessarily accurate.
🔶 DETAILS
🔹 Intrabar Data TF
Given a formation of three candles causing an FVG, the volume traded within that FVG area is obtained by looking at the lower timeframe intrabar candles located within the intermediary candle of the formation. The volume of the intrabar candles located within the FVG areas is added up to obtain the associated volume of the FVG.
Using a lower "Intrabar Data TF" allows obtaining more precise volume results, at the cost of computation time and data availability (if there is a high difference between the "Intrabar Data TF" and the chart TF then less FVG can have their associated volume calculated due to Tradingview limitations).
🔹 Display
Users have access to multiple graphical settings affecting how the indicator is displayed.
The "Graph Resolution" setting determines the length of the X axis, with higher values returning more precise results on the location of FVGs over the X axis. Users can also control the number of labels displayed on the X-axis using the numerical input to the right of "Show X-Axis Labels".
Additionally, users can color FVG areas using a gradient relative to the size of the area, or the volume associated with the FVG.
🔶 SETTINGS
Display Amount: Amount of most recent FVGs to display.
Highest Volume Averages: Amount of FVG averages levels with the highest volume to display and extend.
Consider Mitigation: Only display unmitigated FVGs.
Filter FVGs Outside Visible Range: Only display FVGs areas that are located within the user chart visible range.
Intrabar Data TF: Timeframe used to obtain intrabar data. Should be lower than the user chart timeframe.
Basic FVGBasic Fair Value Gap (FVG) Indicator
The Basic Fair Value Gap (FVG) Indicator is a tool designed for traders using the TradingView platform to identify and visualize Fair Value Gaps (FVGs) on any given chart.
Key Features:
Bullish and Bearish FVG Detection: The indicator automatically detects and highlights both bullish and bearish Fair Value Gaps on the chart. Bullish gaps are highlighted in blue, while bearish gaps are marked in red, with customizable transparency for clear visibility.
Customizable Parameters:
Max Bars Back: Users can set the maximum number of bars to look back in order to find potential FVGs.
Box Length: The length of the FVG box can be adjusted to fit the user's preference, allowing for better visual management on different timeframes.
Tick Buffer for Close Validation: The indicator only considers an FVG filled if the price closes beyond the gap by a customizable tick buffer, ensuring precise gap closure recognition.
Automatic Removal of Filled Gaps: Once an FVG is filled (i.e., the price closes beyond the gap by the defined tick buffer), the corresponding FVG box is automatically removed from the chart. This keeps the chart clean and focused on active gaps.
Real-Time Updates: The indicator updates in real-time, ensuring that traders have the most current information about potential gaps in price, which could signify strong support or resistance levels.
MACD Divergence StrategyStrategy Description: MACD Divergence with SMA Crossover Strategy
Overview:
The MACD Divergence with SMA Crossover Strategy is designed to identify high-probability trading opportunities based on the interaction of the MACD (Moving Average Convergence Divergence) indicator and key moving averages. This strategy focuses on detecting divergences between the MACD line and the signal line, combined with specific conditions related to the 50-period and 800-period SMAs. It ensures that the MACD and signal lines do not cross the zero line between the current and previous divergence points, thereby filtering out weaker signals and enhancing the accuracy of trade entries.
Key Components:
Simple Moving Averages (SMAs):
50-period SMA: A short-term trend indicator that helps identify the prevailing market direction.
800-period SMA: A long-term trend indicator used to gauge the overall market trend.
MACD Indicator:
MACD Line: Represents the difference between the 12-period EMA and the 26-period EMA.
Signal Line: A 9-period EMA of the MACD line.
Histogram: The difference between the MACD line and the signal line, used to visualize the strength of the signal.
Trade Conditions:
Long Position (Buy):
The 50 SMA is above the 800 SMA, indicating a bullish market trend.
The MACD line and signal line are both below zero, signifying a potential bullish reversal.
A bullish divergence is detected when the MACD line crosses above the signal line below zero, without either line crossing the zero level between the current and previous cross.
Short Position (Sell):
The 50 SMA is below the 800 SMA, indicating a bearish market trend.
The MACD line and signal line are both above zero, signaling a potential bearish reversal.
A bearish divergence is detected when the MACD line crosses below the signal line above zero, without either line crossing the zero level between the current and previous cross.
Signal Plotting:
Long Signals: Displayed when the conditions for a bullish divergence and SMA alignment are met, marked with a green upward arrow on the chart.
Short Signals: Displayed when the conditions for a bearish divergence and SMA alignment are met, marked with a red downward arrow on the chart.
Three Drive Pattern Detector [LuxAlgo]The Three Drives Pattern Detector indicator focuses on detecting and displaying completed Three Drives patterns on the user chart. This harmonic pattern is characterized by successive higher highs / lower lows following specific ratios.
The script uses a multi-length swing detection approach, as well as adjusting ratios to ensure flexibility and a maximum number of visible Three Drives patterns.
🔶 USAGE
The bullish/bearish Three Drives pattern is commonly interpreted as a reversal pattern and is characterized by three extensions (drives) and two intermediary retracements creating consecutive higher lows (for a bullish case) or lower highs (for a bearish case).
The multi-length swing detection approach taken by the indicator allows for detecting shorter-term alongside medium/longer-term patterns simultaneously, allowing to increase in the amount of detected patterns.
Users can set a Minimum Swing length (for example 2) and a Maximum Swing length (for example 100) which defines the range of the swing point detection length, higher values for these settings will detect longer-term Three-Drives patterns, while a larger range will allow for the detection of a larger number of patterns.
Sometimes multiple dashed lines as the last segment can be observed. This means multiple Three Drives patterns sharing multiple swing points have formed, with only the last segment being different.
🔹 Retracement/Extension Ratios
The Three Drives pattern often associates the retracement/extension to Fibonacci ratios of respectively 0.618/1.272.
Some sources specify a maximum retracement/extension level of 0.786/1.618, which means the retracement should be within the 0.618-0.786 range and the extension between 1.272-1.618.
Since finding a pattern where the retracement/extension is precisely at the 0.618/1.272 levels, or even between 0.618-0.786/1.272-1.618 is rare, the script allows users to adjust those ratios, which ensures more flexibility. Depending on the widening/tightening of the ratios, allowing users to find more patterns (but potentially less valid) or more valid (but fewer patterns).
In the example above, " Show Ratios " is set to " Ratios With Margin ", showing the ideal retracement/extension level together with the margin, while in the example below, " Show Ratios " is set to " Ratios ", which shows only a line where the price should ideally reverse.
While setting the ratios wider will result in more frequent but less valid patterns, it can also create good trading opportunities.
🔹 Best Practices
The indicator doesn't include Stop Loss (SL) or Take Profit (TP) levels, however, the 1.618 Fibonacci Extension level of the last leg can commonly be used as stop loss.
Typical Take Profit areas include:
Starting point of the pattern
Each retracement level (2x)
The 0.618 retracement level of the complete pattern
In the above bullish examples, the price was lower than the lowest point of the pattern. The price reversed and attained all TP levels without hitting the SL level.
In the above bearish example, the price went above the highest point of the pattern but did not hit the SL level, after which two TP levels were hit. Then, the price quickly went up, just missing the SL level before it came back down again, hitting the last 2 TP levels.
This example shows that other Fibonacci levels an also be effective when combined with the Three Drives pattern, even in the longer term.
🔶 DETAILS
🔹 Multi Length
The core of this publication is the multi-length swing detection. To ensure the maximum amount of Three Drives patterns are found, up to 99 different swing length periods can be used to detect swing points which are then tested for valid patterns.
Using a wider variety of swing points also ensures that patterns visible only with specific Swing settings can be found on the same chart without the user needing to constantly adjust the Swing settings to find other patterns.
The user only needs to set the desired minimum and maximum Swing Length.
In this case, swing detection using swing Lengths from 3 to 100 (97 different) are computed and evaluated for patterns. Three different patterns were found on the same chart, with swing lengths 3, 4, and 6.
Note: The Maximum Swing length should be equal to or higher than the Minimum Swing Length . If the maximum value is lower than the minimum, the script will automatically take the minimum value as the maximum to prevent errors.
🔹 Width Margin %
Users can filter out patterns based on the duration of each extension/retracement segment. When the users want segments of the detected patterns to be of a similar duration, the width percentage should be set lower. When the focus is on detecting more patterns the width percentage can be set higher.
🔹 Retracement/Extension Settings
Show Ratios , set to Ratios , show the ideal Fibonacci retracement/extension level, while Ratios With Margin (example below) show the additional margins for retracement/extension.
The upper and lower limits can be visualized while hovering over the calculated ratio label.
The dashed line shows an older pattern, where the last leg has been updated.
🔹 Last Known Pattern
The included dashboard highlights the date of the most recently detected pattern; the text will show " None " if no pattern is found.
🔹 Calculated Bars
The "Calculated Bars" setting makes use of the recently introduced calc_bars_count parameter, making it possible to effectively reduce the number of historical bars during the computation of the script, which significantly improves the loading speed of the script.
Users wishing to see the most recent patterns can set this setting to 1000 for example, where only the most recent 1000 bars are used to find patterns. If every bar must be used for pattern detection, set " Calculated bars " at 0.
🔶 SETTINGS
Minimum Swing Length: Minimum length used for the swing detection.
Maximum Swing Length: Maximum length used for the swing detection.
Retracement: Range of required ratios used for testing retracements.
Extension: Range of required ratios used for testing extensions.
Width Margin: Influences the symmetry of the pattern; with a higher number allowing for less symmetry.
🔹 Style
Text Size: Text size of the ratio labels.
Show Ratios: Show the ideal ratio, upper/lower limit of ratios, or none.
🔹 Dashboard
Show Dashboard: Toggle dashboard which shows the date of the last found pattern.
Location: Location of the dashboard on the chart.
Size: Text size.
🔹 Calculation
Calculated Bars: Allows the usage of fewer bars for performance/speed improvement.
nPOC Levels by Tyler### Explanation of the Pine Script
This Pine Script identifies and displays weekly naked Points of Control (nPOCs) on a TradingView chart. An nPOC represents a Point of Control (POC) from a previous week that has not been revisited by price action in subsequent weeks. These nPOCs are extended to the right as horizontal lines, indicating potential support or resistance levels.
#### Script Overview
1. **Indicator Declaration:**
```pinescript
//@version=5
indicator("Weekly nPOCs", overlay=true)
```
- The script is defined as a version 5 Pine Script.
- The `indicator` function sets the script's name ("Weekly nPOCs") and specifies that the indicator should be overlaid on the price chart (`overlay=true`).
2. **Function to Calculate POC:**
```pinescript
f_poc(_hl2, _vol) =>
var float vol_profile = na
if (na(vol_profile))
vol_profile := array.new_float(100, 0.0)
_bin_size = (high - low) / 100
for i = 0 to 99
if _hl2 >= low + i * _bin_size and _hl2 < low + (i + 1) * _bin_size
array.set(vol_profile, i, array.get(vol_profile, i) + _vol)
max_volume = array.max(vol_profile)
poc_index = array.indexof(vol_profile, max_volume)
poc_price = low + poc_index * _bin_size + _bin_size / 2
poc_price
```
- The function `f_poc` calculates the Point of Control (POC) for a given period.
- It takes two parameters: `_hl2` (the average of the high and low prices) and `_vol` (volume).
- A volume profile array (`vol_profile`) is initialized to store volume data across different price bins.
- The price range between the high and low is divided into 100 bins (`_bin_size`).
- The function iterates over each bin, accumulating the volumes for prices within each bin.
- The bin with the maximum volume is identified as the POC (`poc_price`).
3. **Variables to Store Weekly Data:**
```pinescript
var float poc = na
var float prev_poc = na
var line poc_lines = na
if na(poc_lines)
poc_lines := array.new_line(0)
```
- `poc` stores the current week's POC.
- `prev_poc` stores the previous week's POC.
- `poc_lines` is an array to store lines representing nPOCs. The array is initialized if it is `na` (not initialized).
4. **Calculate Weekly POC:**
```pinescript
is_new_week = ta.change(time('W')) != 0
if (is_new_week)
prev_poc := poc
poc := f_poc(hl2, volume)
if not na(prev_poc)
line new_poc_line = line.new(x1=bar_index, y1=prev_poc, x2=bar_index + 100, y2=prev_poc, color=color.red, width=2)
label.new(x=bar_index, y=prev_poc, text="nPOC", style=label.style_label_down, color=color.red, textcolor=color.white)
array.push(poc_lines, new_poc_line)
```
- `is_new_week` checks if the current bar is the start of a new week using the `ta.change(time('W'))` function.
- If it's a new week, the previous week's POC is stored in `prev_poc`, and the current week's POC is calculated using `f_poc`.
- If `prev_poc` is not `na`, a new line (`new_poc_line`) representing the nPOC is created, extending it to the right (for 100 bars).
- A label is created at the `prev_poc` level, marking it as "nPOC".
- The new line is added to the `poc_lines` array.
5. **Remove Old Lines:**
```pinescript
if array.size(poc_lines) > 52
line.delete(array.shift(poc_lines))
```
- This section ensures that only the last 52 weeks of nPOCs are kept to avoid cluttering the chart.
- If the `poc_lines` array contains more than 52 lines, the oldest line is deleted using `array.shift`.
6. **Plot the Current Week's POC as a Reference:**
```pinescript
plot(poc, title="Current Weekly POC", color=color.blue, linewidth=2, style=plot.style_line)
```
- The current week's POC is plotted as a blue line on the chart for reference.
#### Summary
This script calculates and identifies weekly Points of Control (POCs) and marks them as nPOCs if they remain untouched by subsequent price action. These nPOCs are displayed as horizontal lines extending to the right, providing traders with potential support or resistance levels. The script also manages the number of lines plotted to maintain a clear and uncluttered chart.
Gann Swing Strategy [1 Bar - Multi Layer]Use this Strategy to Fine-tune inputs for your Gann swing strategy.
Strategy allows you to fine-tune the indicator for 1 TimeFrame at a time; cross Timeframe Input fine-tuning is done manually after exporting the chart data.
MEANINGFUL DESCRIPTION:
The Gann Swing Chart using the One-Bar type, also known as the Minor Trend Chart, is designed to follow single-bar movements in the market. It helps identify trends by tracking price movements. When the market makes a higher high than the previous bar from a low price, the One-Bar trend line moves up, indicating a new high and establishing the previous low as a One-Bar bottom. Conversely, when the market makes a lower low than the previous bar from a high price, the One-Bar swing line moves down, marking a new low and setting the previous high as a One-Bar top. The crossing of these swing tops and bottoms indicates a change in trend direction.
HOW TO USE THE INDICATOR / Gann-swing Strategy:
The indicator shows 1, 2, and 3-bar swings. The strategy triggers a buy when the price crosses the previously determined high.
HOW TO USE THE STRATEGY:
Strategy to Fine-Tune Inputs for Your Gann Swing Strategy
This strategy allows for the fine-tuning of indicators for one timeframe at a time. Cross-timeframe input fine-tuning is done manually after exporting the chart data.
Meaningful Description:
The Gann Swing Chart using the One-Bar type, also known as the Minor Trend Chart, is designed to follow single-bar movements in the market. It helps identify trends by tracking price movements. When the market makes a higher high than the previous bar from a low price, the One-Bar trend line moves up, indicating a new high and establishing the previous low as a One-Bar bottom. Conversely, when the market makes a lower low than the previous bar from a high price, the One-Bar swing line moves down, marking a new low and setting the previous high as a One-Bar top. The crossing of these swing tops and bottoms indicates a change in trend direction.
How to Use the Indicator / Gann-Swing Strategy:
The indicator shows 1, 2, and 3-bar swings. The strategy triggers a buy when the price crosses the previously determined high.
How to Use the Strategy:
The strategy initiates a buy if the price breaks 1, 2, or 3-bar highs, or any combination thereof. Use the inputs to determine which highs or lows need to be crossed for the strategy to go long or short.
ORIGINALITY & USEFULNESS:
The One-Bar Swing Chart stands out for its simplicity and effectiveness in capturing minor market trends. Developed by meomeo105, this Gann high and low algorithm forms the basis of the strategy. I used my approach to creating strategy out of Gann swing indicator.
DETAILED DESCRIPTION:
What is a Swing Chart?
Swing charts help traders visualize price movements and identify trends by focusing on price highs and lows. They are instrumental in spotting trend reversals and continuations.
What is the One-Bar Swing Chart?
The One-Bar Swing Chart, also known as the Minor Trend Chart, follows single-bar price movements. It plots upward swings from a low price when a higher high is made, and downward swings from a high price when a lower low is made.
Key Features:
Trend Identification : Highlights minor trends by plotting swing highs and lows based on one-bar movements.
Simple Interpretation : Crossing a swing top indicates an uptrend, while crossing a swing bottom signals a downtrend.
Customizable Periods : Users can adjust the period to fine-tune the sensitivity of the swing chart to market movements.
Practical Application:
Bullish Trend : When the One-Bar Swing line moves above a previous swing top, it indicates a bullish trend.
Bearish Trend : When the One-Bar Swing line moves below a previous swing bottom, it signals a bearish trend.
Trend Reversal : Watch for crossings of swing tops and bottoms to detect potential trend reversals.
The One-Bar Swing Chart is a powerful tool for traders looking to capture and understand market trends. By following the simple rules of swing highs and lows, it provides clear and actionable insights into market direction.
Why the Strategy Uses 100% Allocation of a Portfolio:
This strategy allocates 100% of the portfolio to trading this specific pair, which does not mean 100% of all capital but 100% of the allocated trading capital for this pair. The strategy is swing-based and does not use take profit (TP) or stop losses.
Candlestick Reversal SignalsTitle: Candlestick Reversal Signals
This Pine Script indicator is designed to identify and plot signals for two key candlestick reversal patterns: Bullish and Bearish Engulfing patterns, as well as Bullish and Bearish Harami patterns. These patterns are widely recognized for their ability to indicate potential trend reversals in the market, providing traders with valuable insights for making informed trading decisions.
Features:
• Bullish Engulfing Pattern:
• Conditions: This pattern is identified when the current candle’s close is higher than the previous candle’s open, and the current candle’s open is lower than the previous candle’s close. Additionally, the current candle’s close must be higher than the previous candle’s close, and the current candle’s open must be lower than the previous candle’s open.
• Signal: When a Bullish Engulfing pattern is detected, a green label is plotted below the relevant bar, indicating a potential upward reversal.
• Bearish Engulfing Pattern:
• Conditions: This pattern is identified when the current candle’s close is lower than the previous candle’s open, and the current candle’s open is higher than the previous candle’s close. Additionally, the current candle’s close must be lower than the previous candle’s close, and the current candle’s open must be higher than the previous candle’s open.
• Signal: When a Bearish Engulfing pattern is detected, a red label is plotted above the relevant bar, indicating a potential downward reversal.
• Bullish Harami Pattern:
• Conditions: This pattern is identified when the previous candle is a bearish candle (open higher than close), and the current candle is a bullish candle (close higher than open) that is contained within the body of the previous bearish candle.
• Signal: When a Bullish Harami pattern is detected, a green label is plotted below the relevant bar, indicating a potential upward reversal.
• Bearish Harami Pattern:
• Conditions: This pattern is identified when the previous candle is a bullish candle (open lower than close), and the current candle is a bearish candle (close lower than open) that is contained within the body of the previous bullish candle.
• Signal: When a Bearish Harami pattern is detected, a red label is plotted above the relevant bar, indicating a potential downward reversal.
Usage:
To use this script, simply add it to your TradingView chart. The script will automatically highlight the Bullish and Bearish Engulfing patterns, as well as Bullish and Bearish Harami patterns, by plotting green and red labels on the chart. These visual signals make it easy to spot potential reversal points, helping traders to identify and capitalize on trading opportunities.
Example:
• When you see a green “Bullish Engulfing” label below a candlestick, it suggests that the market might reverse upwards, signaling a potential buy opportunity.
• Conversely, a red “Bearish Engulfing” label above a candlestick suggests a potential downward reversal, signaling a potential sell opportunity.
• A green “Bullish Harami” label below a candlestick also indicates a potential upward reversal.
• A red “Bearish Harami” label above a candlestick indicates a potential downward reversal.
This indicator is a valuable addition to any trader’s technical analysis toolkit, providing clear and actionable signals based on well-established candlestick patterns. By incorporating these reversal patterns into your analysis, you can enhance your trading strategy and improve your decision-making process.
Moving Average Confluence [ST]Moving Average Confluence
Description in English:
This indicator uses multiple moving averages (SMA, EMA, WMA) with different periods to identify confluence points that can indicate support or resistance zones.
Detailed Explanation:
Configuration:
SMA Length: This input defines the period for the Simple Moving Average (SMA). The default value is 50.
EMA Length: This input defines the period for the Exponential Moving Average (EMA). The default value is 50.
WMA Length: This input defines the period for the Weighted Moving Average (WMA). The default value is 50.
Confluence Threshold: This input defines the maximum allowable difference between the moving averages to consider them in confluence. The default value is 0.01.
Calculation of Moving Averages:
SMA: Calculated as the simple arithmetic mean of the closing prices over the specified period.
EMA: Calculated by giving more weight to recent prices.
WMA: Calculated by weighting the closing prices based on their age.
Identification of Confluence:
Confluence is identified when the differences between SMA, EMA, and WMA are all within the specified threshold. This can indicate potential support or resistance zones.
Plotting:
The SMA, EMA, and WMA are plotted with different colors for easy identification.
Confluence points are marked with yellow labels on the chart.
Indicator Benefits:
Support and Resistance Identification: Helps traders identify potential support and resistance zones through the confluence of different moving averages.
Visual Cues: Provides clear visual signals for confluence points, aiding in making informed trading decisions.
Customizable Parameters: Allows traders to adjust the periods of the moving averages and the confluence threshold to suit different trading strategies and market conditions.
Justification of Component Combination:
Combining multiple types of moving averages (SMA, EMA, WMA) provides a comprehensive view of market trends. Identifying confluence points where these averages are close together can indicate strong support or resistance levels.
How Components Work Together:
The script calculates the SMA, EMA, and WMA for the specified periods.
It then checks if the differences between these moving averages are within the specified threshold.
When a confluence is detected, it is marked on the chart with a yellow label, providing a clear visual signal to the trader.
Título: Confluência de Médias Móveis
Descrição em Português:
Este indicador utiliza várias médias móveis (SMA, EMA, WMA) com diferentes períodos para identificar pontos de confluência que podem indicar zonas de suporte ou resistência.
Explicação Detalhada:
Configuração:
Comprimento da SMA: Este parâmetro define o período para a Média Móvel Simples (SMA). O valor padrão é 50.
Comprimento da EMA: Este parâmetro define o período para a Média Móvel Exponencial (EMA). O valor padrão é 50.
Comprimento da WMA: Este parâmetro define o período para a Média Móvel Ponderada (WMA). O valor padrão é 50.
Limite de Confluência: Este parâmetro define a diferença máxima permitida entre as médias móveis para considerá-las em confluência. O valor padrão é 0.01.
Cálculo das Médias Móveis:
SMA: Calculada como a média aritmética simples dos preços de fechamento ao longo do período especificado.
EMA: Calculada atribuindo mais peso aos preços mais recentes.
WMA: Calculada ponderando os preços de fechamento com base em sua idade.
Identificação de Confluência:
A confluência é identificada quando as diferenças entre SMA, EMA e WMA estão todas dentro do limite especificado. Isso pode indicar potenciais zonas de suporte ou resistência.
Plotagem:
A SMA, EMA e WMA são plotadas com cores diferentes para fácil identificação.
Pontos de confluência são marcados com etiquetas amarelas no gráfico.
Benefícios do Indicador:
Identificação de Suporte e Resistência: Ajuda os traders a identificar potenciais zonas de suporte e resistência através da confluência de diferentes médias móveis.
Sinais Visuais Claros: Fornece sinais visuais claros para pontos de confluência, auxiliando na tomada de decisões informadas.
Parâmetros Personalizáveis: Permite que os traders ajustem os períodos das médias móveis e o limite de confluência para se adequar a diferentes estratégias de negociação e condições de mercado.
Justificação da Combinação de Componentes:
Combinar vários tipos de médias móveis (SMA, EMA, WMA) fornece uma visão abrangente das tendências do mercado. Identificar pontos de confluência onde essas médias estão próximas pode indicar níveis fortes de suporte ou resistência.
Como os Componentes Funcionam Juntos:
O script calcula a SMA, EMA e WMA para os períodos especificados.
Em seguida, verifica se as diferenças entre essas médias móveis estão dentro do limite especificado.
Quando uma confluência é detectada, ela é marcada no gráfico com uma etiqueta amarela, fornecendo um sinal visual claro para o trader.
SL ManagerSTOP LOSS MANAGER
Overview:
The "SL Manager" indicator is designed to assist traders in managing their stop loss (SL) and take profit (TP) levels for both long and short positions. This tool helps you visualize intermediate levels, enhancing your trading decisions by providing crucial information on the chart.
Usage:
This indicator is particularly useful for traders who want to manage their trades more effectively by visualizing potential adjustment points for their stop loss and take profit levels. It helps in making informed decisions to maximize profits and minimize risks by providing clear levels to take partial profits and adjust stop losses.
Features:
Position Input: Select between "long" and "short" positions.
Entry Price: Specify the entry price of your trade.
Take Profit: Define the price level at which you want to take profit.
Stop Loss: Set the stop loss price level to manage your risk.
Intermediate Levels:
For both long and short positions, the indicator calculates and plots the following intermediate levels:
50% Take Profit (TP 50%): Midway between the entry price and the take profit level, where you can take partial profits and move your SL up to the 25% mark.
75% Take Profit (TP 75%): Three-quarters of the way from the entry price to the take profit level, where you can take partial profits and move your SL to breakeven.
Stop Loss Move to 25% (SL Move to 25%): A level where the stop loss can be adjusted to lock in profits.
Visualization:
The indicator plots the calculated levels directly on the chart, provided the data for the current day is available. Different color codes and line styles distinguish between the various levels:
TP 50% and TP 75% are plotted in green.
SL Move to 25% is plotted in red .
Entry/Breakeven is plotted in blue.
Algo Market Structure (Nephew_Sam_)This indicator takes a different approach into reading market structure.
The key difference between this logic compared to the pivot logic is; we read highs and lows based on bullish and bearish candles. Ie:
Pivot method - highest/lowest point in previous and next X candles
Algo method - Bullish candle(s) followed by a bearish candle and vice versa
More explanation in each of the key feature below.
Here are all of the concepts and features included in the indicator:
Timeframe
- You can select the timeframe of the indicator (has to be higher or equal to the chart timeframe)
- Min option is the minimum timeframe to show the indicator. If you show daily structure on 1m chart, you can run into a timeout error so keep it close to the chart timeframe.
- Recommended timeframe for no bugs is the current chart timeframe.
Structure
The structure is calculated using a combination of candle patterns (ie. pivot top = Bullish x3-Bearish-Bullish) and marks out circle labels after a new HH or LL
Structure high = 1 or more consecutive bull candles followed by a bear candle
Structure low = 1 or more consecutive bear candles followed by a bull candle
Structure direction change = when the second previous H/L is taken out (TLQ)
ILQ - Inducement Liquidity concept
In a bearish example this is the most recent structure high.
TLQ
In a bearish example this is the second most recent structure high.
This is also what helps define our structure direction. If broken, the structure changes (bullish / bearish) and plots a bos line.
EPA - Efficient price action
When price returns back to previous structure point after bos. Similar to an ICT breaker.
Note: It might be a little, just a little buggy if you have set your indicator timeframe to higher than the chart timeframe.
Extremes Zones
The final zone to find a trade entry before a structural shift. These are wick of the TLQ candle. This is select the wick of the current timeframe candle even if indicator is set to higher timeframe.
MSU
Tiny arrow labels at the bottom of your chart. Plots the arrows when price is between an ILQ and TLQ
VTA
Valid trading range. This is when we get some sort of a structure pattern. Plots a box when price induces previous structure point and then breaks structure in the opposite direction. Here are the patterns:
Bull VTA - HH-LL-HH
Bear VTA - LL-HH-LL
Bull Strict VTA - LL-HH-LL-HH
Bear Strict VTA - HH-LL-HH-LL
Bar colors
Changes the bar color based on the structure to all green/red.
Note: for this to work, you will have to right click on the indicator, then under visual order select 'bring to front'
Table
This table plots the structure stats/data
1. If structure is bullish / bearish
2. If price is efficient or not
3. If there is an MSU
4. If price is inside a VTA
Disclaimer: This indicator is fully written from scratch by me, the idea behind the concepts come from AlgoHub material on Youtube. Do NOT use this code for reselling purposes and if anything is created using any part of this code, the source code should be public.
MNQ/NQ Rotations [Tiestobob]### Indicator Description: MNQ/NQ Rotations
TO BE USED ONLY ON THE CONTINOUS CONTRACTS NQ1! and MNQ1! It will not work on others or the forward contracts of these.
#### Overview
The MNQ/NQ Rotations indicator is designed for traders of Nasdaq futures (MNQ and NQ) to visualize key price levels where typical market rotations occur. This indicator identifies and highlights the xxx.20 and xxx.80 levels based on empirical data and trading experience, allowing traders to recognize potential support and resistance points during trading sessions.
#### Key Features
- **Timeframe Selection**: The indicator allows users to specify a timeframe for identifying breakout candles, ensuring flexibility across different trading strategies.
- **Active Trading Range**: Users can define an active trading range, focusing the analysis on specific hours when the market is most active.
- **Visual Representation**: The indicator paints horizontal lines at key price levels (xxx.20 and xxx.80), extending them across a user-defined length to aid in visual analysis.
- **Customization**: Users can customize the color of the lines to match their charting preferences.
#### Inputs
- **Timeframe (`tf`)**: Defines the timeframe to select the breakout candle (default: 1 minute).
- **Active Trading Range (`session`)**: Specifies the time range for identifying breakout candles (default: 08:00-12:00).
- **Line Color (`line_color`)**: Allows customization of the line color (default: purple).
#### Logic
1. **Session Validation**: The indicator checks if the current bar falls within the specified active trading range.
2. **Price Point Calculation**: For each candle close, the indicator calculates the nearest xxx.20 and xxx.80 levels.
3. **Line Drawing**: Horizontal lines are drawn at these key levels, extending a specified length forward to highlight potential rotation points.
#### Use Cases
- **Support and Resistance Identification**: By highlighting the xxx.20 and xxx.80 levels, traders can easily spot areas where the market is likely to reverse or consolidate.
- **Breakout Trading**: Traders can use the indicator to identify breakout levels and set appropriate entry points.
- **Risk Management**: The visual cues provided by the indicator can help traders set more effective stop-loss and take-profit levels.
#### Example
A trader using a 1-minute timeframe with an active trading range from 08:00 to 12:00 will see horizontal lines painted at the nearest xxx.20 and xxx.80 levels for each candle close during this period. These lines serve as visual markers for typical rotation points, aiding in decision-making and trade planning.
#### Conclusion
The MNQ/NQ Rotations indicator is a powerful tool for traders looking to enhance their market analysis of Nasdaq futures. By focusing on empirically derived rotation levels, this indicator provides clear visual cues for identifying key price levels, supporting more informed trading decisions.
