IBS (Internal Bar Strength) Trading Strategy for SPY and NDQImplementation by AlgoTradeKit
Overview
The IBS Trading Strategy is a daily bars long-only trading system, based on the concept of Internal Bar Strength (IBS). The strategy aims to identify potential reversals by monitoring how the previous bar’s close positions itself within its high-low range. It is suitable for stock and US indices. The default parameters are optimized for SPY/SPX and NDQ/QQQ
Strategy Concept
The Internal Bar Strength (IBS) is calculated using the formula:
IBS = (Previous Close - Previous Low) / (Previous High - Previous Low)
This value always lies between 0 and 1. An IBS value below 0.2 is typically interpreted as an oversold condition, while a value above 0.9 suggests an overbought state.
Trading Rules
- Long Entry :
- Condition 1 : IBS is below the user-defined entry threshold (default is 0.2).
- Condition 2 : The current price is above an N-period Exponential Moving Average (EMA) (default period is 252).
- Note : You can disable the EMA condition by setting the EMA period to 0.
- Long Exit
- The position is closed when IBS rises above the user-defined exit threshold (default is 0.9).
Customization Options
- IBS Entry Threshold : Adjust to set the sensitivity for entering a long trade based on oversold conditions.
- IBS Exit Threshold : Customize to define the exit point when the market becomes overbought.
- EMA Period : Set the lookback period for the EMA to align with your trend bias; disable this condition by setting the period to 0.
Risk Management & Trading Considerations
- Designed for daily charts, the strategy captures higher timeframe trends and minimizes noise.
- The entry and exit conditions are straightforward, aiming to avoid over-trading while letting clear signals dictate trade management.
- Always use proper risk management techniques and test the strategy thoroughly on historical data and in a simulated environment before applying it in live markets.
Disclaimer
This strategy is for educational and informational purposes only and does not constitute financial advice. Trading involves risk, and past performance is not indicative of future results. Always conduct your own research and consider your risk tolerance before making any trades.
在腳本中搜尋"chart"
Support and Resistance (High Volume Boxes) [ChartPrime]Breakout & Retest Approach:
Breakout: A breakout is identified when a resistance level is broken (breakout_res) or a support level is breached (breakout_sup).
Retest Confirmation: If the resistance is retested and confirmed as support (res_holds), a buy signal is generated for a bullish setup; if the support is retested and confirmed as resistance (sup_holds), a sell signal is generated.
Visual Indicators:
Additionally, large green and red triangle-shaped markers are displayed on the chart to indicate buy/sell signals.
Alerts can be set up in TradingView using alert conditions.
FractalsThis indicator is based on the classic Williams Fractals concept. It scans the price chart to identify potential reversal points by looking for fractal patterns in the highs and lows. Here's what it does:
Customizable Periods: You can set the number of bars (using the n input) that the indicator examines on both sides of a central bar.
Up Fractals: An up fractal is detected when the current bar's high is higher than the highs of the preceding n bars, and it is also confirmed by additional conditions checking the following bars.
Down Fractals: Similarly, a down fractal is identified when the current bar's low is lower than the lows of the preceding n bars, with further validation from subsequent bars.
Visual Markers: Once identified, up fractals are marked by a small upward-pointing triangle above the bar, while down fractals are marked by a small downward-pointing triangle below the bar. The shapes are kept minimal (using size.auto) to avoid cluttering the chart.
This setup helps traders spot potential support and resistance areas, providing visual cues for possible trend reversals.
Candle Range-BarsThe Candle Range Bars indicator visually represents the range of each candlestick in either pips or ticks, depending on your preference. It plots vertical bars to show the size of each candle, making it easy to identify periods of high or low volatility. The indicator also displays the exact range value (in pips or ticks) above each bar, with customizable text size and color for better readability.
Key Features
Pips or Ticks Mode:
Choose to display the candle range in pips (for forex traders) or ticks (for other instruments).
Customizable Text:
Adjust the text color and text size (Tiny, Small, Normal, Large) to suit your chart style.
Clear Visuals:
Bars are colored green for bullish candles and red for bearish candles, making it easy to distinguish between up and down moves.
Flexible Use:
Ideal for analyzing volatility, identifying consolidation zones, and comparing candle ranges across different timeframes.
How to Use:
Add the indicator to your chart.
Customize the settings:
Choose between pips or ticks.
Adjust the text color and text size for the range values.
Observe the bars and their corresponding range values to analyze market volatility.
Why Use This Indicator?:
Simplify Range Analysis: Quickly see the size of each candlestick without manual calculations.
Customizable: Tailor the appearance to match your trading style.
Versatile: Works on any instrument and timeframe.
Settings:
Show Pips (Otherwise Ticks): Toggle between pips and ticks mode.
Text Color: Choose the color of the range value text.
Text Size: Select the size of the range value text (Tiny, Small, Normal, Large).
Ideal For:
Forex, stocks, commodities, and crypto traders.
Traders who focus on volatility and range analysis.
Anyone looking for a clear and customizable way to visualize candle ranges.
This description highlights the key features, benefits, and usability of your indicator, making it appealing to other TradingView members. Let me know if you'd like to tweak it further! 😊
Time Classification# Time Classification Indicator
This indicator displays important time zones on your chart with customizable vertical lines and labels. It helps traders identify key market sessions and potential high-activity periods.
## Features
- **90-Minute Cycle Lines:** Highlights the important NY AM 90-minute cycles (07:53, 08:38, 09:23, 10:08)
- **Session Markers:** Clearly marks important time periods (3-4 AM, 10-11 AM, 2-3 PM)
- **Customizable Appearance:** Adjust colors and line styles for each time marker
- **Time Labels:** Optional time labels that show the exact time of each vertical line
- **Flexible Configuration:** Enable/disable different time lines based on your trading strategy
## How to Use
1. Add the indicator to your chart
2. Customize the colors and styles to match your chart theme
3. Use the time markers to identify potential market turning points or high-volatility periods
4. Adjust label settings for optimal visibility on your particular chart setup
The indicator uses your chart's timezone setting to ensure times are displayed correctly for your location.
## Trading Applications
- Identify potential reversal points that align with time-based market structures
- Plan entries and exits around known high-volatility periods
- Combine with price action strategies for enhanced trading decisions
- Track intraday cycles that may influence market movements
Perfect for day traders and swing traders who incorporate time-based analysis into their trading strategy.
Very Steep & Crossed Lin Reg_Published Ver.1.1このスクリプトについて／Summary of this Script
このスクリプトは、LinRegが急上昇をしている銘柄をTrading Viewのスクリーニングで発見するためのものです。LinRegが急上昇する過程で、下側の線並びに５０MAなど他の指標との重なりのあるポイントでエントリーすることで、低リスクエントリーを可能にすることを狙っています。チャート上で使用するものではありません。
This script is for screening stocks that have "Very steep & crossed, triangle shaped LinReg" chart.
To find out stocks that have those shaped chart as much as possible, it helps our low risk entry strategy.
このスクリプトの目的／This Script's objective, condition & specification is as following
<目的>
TradingViewのリストにある銘柄の中から、線形回帰が急上昇して、交差している銘柄をスクリーニング結果に表出すること。
<条件>
-今日以降で線形回帰が交差するチャート
<仕様>
**Trading ViewのPine script ver5**
このスクリプトの使い方How to use this script for Trading View Pine Screening
日本語
1. チャートにPine Scriptを設定する
2. チャート上では非表示にする （スクリーナー用のため）
3. Pineスクリーナー用のリストを作成する（新規が良い）
4. Pine Screenerの画面（jp.tradingview.com/pine-screener/）で、「スクリーニングするリストの指定」 → 「使用するPineスクリーナーの選択」をする
5. Pine ScreenerのScreener Signalの設定をする （0.1以上など）
6. スキャンを実行する
7. 結果が出た銘柄を入れるための、リストを作成する（新規）
8. Trading Viewのスーパーチャートで、目視検証をする（前提は日足で、急上昇で三角に交差しているLinReg銘柄を探すこと）
English
How to use this script for Trading View Pine Screening
1. Set Pine Script on the chart
2. Hide it on the chart (for the screener)
3. Create a list for the Pine Screener (a new one is better)
4. On the Pine Screener screen (/pine-screener/), select "Specify list to screen" → "Select Pine Screener to use"
5. Set the Screener Signal for Pine Screener (0.1 or higher, etc.)
6. Run the scan
7. Create a list (new) to put stocks with results
8. Visually verify on Trading View's Super Chart (the premise is to look for LinReg stocks that are rising sharply and crossing a triangle on the daily chart)
注意事項／Notes : Not prediction, assumption based on past data of Linear Regression
Pine Script doesn't have capability to predict future chart shape.
So, this script is developed provides selecting similar chart pattern of "steep triangle shaped linear regression" based on using past data.
Definition is as followings.
*These description will be translated in English soon, but not yet as of 24th Feb, 2025.
🔎 交差の定義
「線形回帰の上側の線と下側の線が交差する」という状況は、以下のように定義できます：
過去のデータから 上側の線と下側の線の距離が縮まっている（収束している）
その傾向が続くと 近い将来に交差する可能性がある
📌 交差の可能性を定義するための要素
以下の3つの要素を組み合わせて、交差の可能性をスクリーニングできます。
① 上側の線と下側の線の差（スプレッド）が縮小している
pinescript
コピーする
編集する
spread_now = linreg_upper - linreg_lower
spread_prev = linreg_upper - linreg_lower
spread_shrinking = spread_now < spread_prev
spread_now … 現在の線形回帰バンドの幅
spread_prev … 1本前のローソク足の線形回帰バンドの幅
spread_shrinking … バンド幅が縮小している（交差しそう）
② 線形回帰の上側の線の傾きが下がり、下側の線の傾きが上がっている
pinescript
コピーする
編集する
slope_upper = linreg_upper - linreg_upper
slope_lower = linreg_lower - linreg_lower
converging = slope_upper < 0 and slope_lower > 0
slope_upper … 上側の線の傾き（負なら下降）
slope_lower … 下側の線の傾き（正なら上昇）
converging … 上側の線が下がり、下側の線が上がっている（交差に向かっている）
③ 交差までの推定日数が近い
pinescript
コピーする
編集する
estimated_days_to_cross = spread_now / (abs(slope_upper) + abs(slope_lower))
soon_to_cross = estimated_days_to_cross < 5
estimated_days_to_cross … 交差するまでの推定日数（幅 ÷ 傾きの変化量）
soon_to_cross … 5日以内に交差しそうなら true
✅ 交差の可能性をスクリーニング
pinescript
コピーする
編集する
screener_condition = spread_shrinking and converging and soon_to_cross
spread_shrinking … 線形回帰バンドの幅が縮小
converging … 上側の線が下降し、下側の線が上昇
soon_to_cross … 5日以内に交差しそう
📌 TradingView の Pine Script に組み込む
これらの要素を組み合わせて、TradingView のスクリーニング用 Pine Script に落とし込むと、以下のようになります。
pinescript
コピーする
編集する
//version=5
indicator("Linear Regression Convergence Screener", overlay=false)
// === 設定 ===
length = 100 // 線形回帰の計算期間
mult = 2.0 // 標準偏差の倍率
// === 線形回帰の計算 ===
linreg_mid = ta.linreg(close, length, 0) // 中心線
std_dev = ta.stdev(close, length) // 標準偏差
linreg_upper = linreg_mid + (std_dev * mult) // 上側の線
linreg_lower = linreg_mid - (std_dev * mult) // 下側の線
// === 交差の可能性の判定 ===
// ① 上側の線と下側の線の差が縮小
spread_now = linreg_upper - linreg_lower
spread_prev = linreg_upper - linreg_lower
spread_shrinking = spread_now < spread_prev
// ② 上側の線が下がり、下側の線が上がっている
slope_upper = linreg_upper - linreg_upper
slope_lower = linreg_lower - linreg_lower
converging = slope_upper < 0 and slope_lower > 0
// ③ 交差までの推定日数が5日以内
estimated_days_to_cross = spread_now / (abs(slope_upper) + abs(slope_lower))
soon_to_cross = estimated_days_to_cross < 5
// === スクリーニング条件 ===
screener_condition = spread_shrinking and converging and soon_to_cross
// === プロット（スクリーニング結果） ===
plot(screener_condition ? 1 : na, title="Screener Signal", style=plot.style_columns, color=color.green)
✅ スクリプトの動作
交差する可能性のある銘柄をスクリーニング
過去のデータをもとに「バンドが縮小」「上側が下降」「下側が上昇」「5日以内に交差しそう」な銘柄を選定
TradingViewのスクリーナーで Screener Signal が 1 の銘柄をチェック
🔎 まとめ
📌 交差の可能性を定義するには？
バンドの幅が縮小
上側の線が下降し、下側の線が上昇
交差までの推定日数を計算
📌 スクリプトで交差の可能性をスクリーニング
spread_shrinking → 線形回帰バンドの幅が縮小
converging → 上側の線が下がり、下側の線が上がっている
soon_to_cross → 交差までの推定日数が5日以内
📌 TradingViewのスクリーナーで使う
plot() を追加 してエラー回避
Screener Signal が 1 の銘柄をスクリーニング
3 Red / 3 Green Strategy with Volatility CheckStrategy Name: 3 Red / 3 Green Strategy with Volatility Check by AlgoTradeKit
Overview
This long-only strategy is designed for daily bars on NASDAQ (or similar instruments) and combines simple price action with a volatility filter. It “tells it like it is” – enter when the market shows weakness, but only in sufficiently volatile conditions, and exit either on signs of a reversal or after a set number of days.
Entry Conditions
- Price Action :
Enter a long position when there are 3 consecutive red days (each day's close is below its open).
- Volatility Filter :
The entry is allowed only if the current ATR (Average True Range) calculated over the specified ATR Period (default 12) is greater than its 30-day simple moving average. This ensures the market has enough volatility to justify the trade.
Exit Conditions
- Reversal Signal :
Exit the long position when 3 consecutive green days occur (each day's close is above its open), signaling a potential reversal.
- Time Limit :
Regardless of market conditions, any open trade is closed if it reaches the Maximum Trade Duration (default 22 days). This helps limit exposure during stagnant or unfavorable market conditions.
- You can toggle the three-green-day exit if you want to isolate the time-based exit.
Input Parameters
- Maximum Trade Duration (days): Default is 22 days.
- ATR Period: Default is 12.
- Use 3 Green Days Exit: Toggle to enable or disable the three-green-day exit condition.
How It Works
1. Entry: The strategy monitors daily price action for 3 consecutive down days. When this occurs and if the market is volatile enough (current ATR > 30-day ATR average), it opens a long position.
2. Exit: The position is closed if the price action reverses with 3 consecutive up days or if the trade has been open for the maximum allowed duration - i.e. use it on daily chart.
Risk Management
- The built-in maximum trade duration prevents trades from lingering too long in a non-trending or consolidating market.
- The volatility filter helps ensure that trades are only taken when there is sufficient price movement, potentially increasing the odds of a meaningful move.
Disclaimer
This strategy is provided “as is” without any warranties. It is essential to backtest and validate the performance on your specific instrument and market conditions before deploying live capital. Trading involves significant risk, and you should adjust parameters to match your risk tolerance.
Test and tweak this strategy to see if it fits your trading style and market conditions. Happy trading!
VWAP with EMA 9 and 21Below is a description for the Pine Script indicator that combines VWAP (Volume Weighted Average Price) with EMA 9 and EMA 21, designed for use on TradingView as a single indicator. This description is concise, clear, and suitable for adding to the script itself or sharing with others to explain its purpose and functionality.
Description for "VWAP with EMA 9 and 21" Indicator
"This custom indicator combines three popular technical analysis tools—VWAP (Volume Weighted Average Price), 9-period EMA (Exponential Moving Average), and 21-period EMA—into a single, efficient overlay for TradingView charts. Designed to work within the free plan's limit of 3 indicators, this script plots all three lines as one indicator, saving chart slots for additional tools.
VWAP: Displays the daily Volume Weighted Average Price (blue line), calculated using the typical price (HLC3), resetting at the start of each trading day. It reflects the average price weighted
OHLC OLHC - Monthly, Weekly, Daily and HourlyThis indicator plots the previous day's (or any selected timeframe’s) Open, High, Low, and Close (OHLC) levels on the current chart. It helps traders analyze historical price levels to identify support and resistance zones.
Key Features:
Multi-Timeframe Support:
Users can select a timeframe (D, W, M, etc.) to fetch previous OHLC data.
The script requests OHLC values from the selected timeframe and overlays them on the current chart.
Customizable Display Options:
Users can choose to display only the last OHLC levels instead of all past session levels.
Users can extend the OHLC lines across the chart.
Background Highlighting:
The script fills the background only for the Previous Open and Previous Close levels, making them visually distinct.
Previous High and Low levels do not have background color.
This script is particularly useful for day traders and swing traders who rely on key price levels to make trading decisions. Let me know if you need further refinements!
DCStatCalcs_v0.1DCStatCalcs_v0.1 - Session-Based Statistical Projections
This Pine Script indicator overlays customizable horizontal lines on your chart to visualize a session's opening price and its statistical projections based on historical standard deviation (SD). Designed for traders who want to analyze price behavior within defined time sessions, it calculates and plots the session open price along with optional projection lines at 0.5, 1.0, 1.5, 2.0, and 2.5 standard deviations above and below the open, derived from past session data.
Key Features:
Customizable Sessions: Define your session time (e.g., 0600-1500) and timezone (e.g., America/New_York).
Historical Analysis: Uses a user-specified number of past sessions (default: 20) to compute the standard deviation of price movements relative to the session open.
Projection Lines: Displays toggleable lines at multiple SD levels with adjustable styles, colors, and widths for easy visualization.
Flexible Display: Extend lines beyond the current bar with an offset setting, and adjust label sizes for clarity.
Real-Time Updates: Lines dynamically extend as the session progresses, keeping projections relevant to the current bar.
How It Works:
At the start of each user-defined session, the indicator records the opening price and calculates the SD based on price deviations from the open across historical sessions. It then plots the open price line and, if enabled, projection lines at the specified SD intervals. These lines help traders identify potential support, resistance, or volatility zones based on statistical norms.
Use Case:
Ideal for day traders or analysts working with intraday charts to gauge price ranges and volatility within specific trading sessions, such as market opens or key economic hours.
Published under the Mozilla Public License 2.0. Created by dc_77.
S/D Zones by CyberS/D Zones by Cyber is an advanced TradingView indicator that automatically identifies key supply and demand areas on your chart. It visually highlights these zones with customizable colors, borders, and labels, helping you quickly spot potential areas of support and resistance. The indicator dynamically updates and removes zones as market conditions change, ensuring you only see relevant, active levels on your chart.
Previous Day's Close Indicator (Regular Hours)This indicator was developed to replace TradingView's built-in previous close indicator—which erroneously uses the close from two trading days prior. By capturing the actual last trade during the standard session, this script provides a reliable and precise previous close level.
Key features include:
Accurate Previous Close: This indicator locks in the last trade of the regular session, ensuring you always see the true previous day close.
Customizable Display Options: Users can choose between a line or circle plot, with adjustable size settings to suit their charting preferences.
Enjoy!
CRT Strategy with 2:1 Risk/RewardHigher Timeframe Range: The strategy calculates the range from the most recent candle on the 1-hour chart.
Entry Conditions: The entry signals use a simple crossover (or you can replace this with any other condition you'd like). A long entry happens when the current close crosses above the highest close of the past 10 bars, and a short entry happens when the current close crosses below the lowest close.
Stop Loss & Take Profit: The stop loss is set based on the HTF range, and the take profit is 2x the range for a 2:1 risk-to-reward ratio.
Plotting: The stop loss and take profit levels are plotted on the chart for visualization.
Customization:
You can adjust the timeframe (htf) to any higher timeframe you'd like (e.g., 1-hour, 4-hour).
The entry condition (crossover and crossunder) is just an example. You can replace this with any other strategy or indicator.
You can also tweak the risk-to-reward ratio or other aspects of the strategy
Weekend RangeWeekend Range Indicator – Customizable High/Low Zones
🔹 Overview
The Weekend Range Indicator marks the last 20 weekends on your chart, highlighting their highs and lows with fully customizable colors, transparency, and time settings. This tool helps traders identify key support and resistance levels from weekend price action.
🛠️ Features
✅ Custom Weekend Start & End – Choose the weekend days and time (UTC)
✅ Automatically Tracks the Last 20 Weekends (configurable up to 50)
✅ Custom Box Colors & Transparency – Adjust the fill and border colors easily
✅ Works on All Timeframes – Best viewed on 1H, 4H, or higher
✅ Efficient & Optimized Code – No lag, smooth performance
🎯 How to Use
1️⃣ Add the indicator to your chart.
2️⃣ Adjust the weekend start & end time in the settings.
3️⃣ Customize the box colors and transparency to match your style.
4️⃣ Watch how price reacts around the weekend high/low zones for trade opportunities.
💡 Trading Strategies
🔹 Breakout Trading – Look for price breaking above or below the weekend range.
🔹 Reversal Zones – Watch for rejections at weekend highs/lows.
🔹 Liquidity & Stop Hunts – Large players often target these levels.
📈 Recommended Markets
✔ Works best on Forex, Crypto, Indices, and Commodities
✔ Ideal for swing traders and intraday traders
🚀 Enjoy using the indicator! Let me know if you’d like any new features added! 🎯🔥
Wickless Candle Indicator with Extended Lines (final)This Pine Script indicator identifies “wickless” candles—those with no upper wick (when the close equals the high) or no lower wick (when the open equals the low)—and marks these events on the chart. When such a candle is detected, it:
Records the Level and Bar Index:
Saves the price level (high for wickless tops, low for wickless bottoms) and the bar index where the condition occurred.
Draws an Extended Horizontal Line:
Creates a green horizontal line for a wickless top or a red line for a wickless bottom, starting at the detection bar and extending across subsequent bars as long as the price remains below (for tops) or above (for bottoms) the recorded level.
Resets When the Price Breaks the Level:
If a future bar’s price moves beyond the saved level (i.e., a high above a wickless top or a low below a wickless bottom), the indicator resets that level, ending the extension of the line.
Visual Markers:
Additionally, it plots a small triangle above a wickless top and below a wickless bottom for easy identification on the chart.
Overall, this script helps traders visualize potential support or resistance levels created by candles that close at their highs or open at their lows, with lines that dynamically adjust as price evolves.
Price Action: Engulfing PatternsBullish Engulfing Pattern Detection: A bullish engulfing pattern is identified when the previous candle is bearish (close < open ), the current candle is bullish (close > open), and the current candle's body engulfs the previous candle's body (close >= open and open <= close ).
Bearish Engulfing Pattern Detection: A bearish engulfing pattern is identified when the previous candle is bullish (close > open ), the current candle is bearish (close < open), and the current candle's body engulfs the previous candle's body (open >= close and close <= open ).
Plotting the Patterns: The plotshape function is used to mark the detected patterns on the chart. Bullish engulfing patterns are marked below the bar with a green upward label, while bearish engulfing patterns are marked above the bar with a red downward label.
Hanzo_Wave_Price %Hanzo_Wave_Price % is a custom indicator for the TradingView platform that combines RSI (Relative Strength Index) and Stochastic RSI while also displaying the percentage price change over a specified period. This indicator helps traders identify overbought and oversold conditions, analyze price waves, and forecast potential market movements.
How It Works
1. RSI and Stochastic RSI Calculation
RSI is calculated based on the selected price source (default: close) with a user-defined Main Line period.
Stochastic RSI is then applied and smoothed using a moving average.
The Main Line represents the smoothed Stochastic RSI, serving as a wave indicator to help identify potential entry and exit points.
2. Overbought and Oversold Zones
The 70 and 30 levels indicate overbought and oversold zones, displayed as dashed lines on the chart.
Additional 20% and 10% levels provide a visual reference for historical price changes, aiding in future predictions.
3. Percentage Price Change Calculation
The indicator calculates the percentage price change over a Barsback period (default: 30 candles).
Users can choose a multiplier (100 or 1000) for better visualization (1000 scales the values by dividing by 10).
The data is displayed as a colored area:
Red (Short) → Negative price change.
Green (Buy) → Positive price change.
Settings & Parameters
Multiplier 💪 – Selects the scaling factor (100 or 1000) for percentage values.
Main Line ✈️ – Stochastic smoothing period (smoothK).
Don't touch ✋ – Reserved value (do not modify).
RSI 🔴 – RSI calculation period.
Stochastic 🔵 – Stochastic RSI calculation period.
Source ⚠️ – Price source for calculations (default: close).
Price changes % 🔼🔽 – Enables percentage price change display.
Barsback ↩️ – Number of candles used to calculate price change.
Visual Representation
Gray Line (Takeprofit Line 🎯) – Smoothed Stochastic RSI.
Red Dashed Line (70) – Overbought zone.
Blue Dashed Line (30) – Oversold zone.
Percentage Price Change Display:
Green Fill → Price increase.
Red Fill → Price decrease.
Advantages
✅ Combined Analysis – Uses RSI and Stochastic RSI for more accurate market condition identification.
✅ Flexibility – Customizable parameters allow adaptation for different markets and strategies.
✅ Visual Clarity – Clearly defined zones and dynamic percentage change display.
✅ Additional Market Insights – The percentage price change helps assess market volatility.
Disadvantages
⚠ Lagging Signals – Smoothing may cause delayed response.
⚠ False Breakouts – The 70/30 levels may not always work effectively for all assets.
⚠ IMPORTANT!
This indicator is for informational and educational purposes only. Past performance does not guarantee future profits! Use it in combination with other technical analysis tools. 🚀
Example 1: Identifying a Long Position
📌 Scenario:
The asset price has dropped significantly (1-hour timeframe), and the Main Line (gray line) crosses below the 30 level. This signals oversold conditions, which may indicate a potential reversal or upward correction.
✅ How to Use:
1️⃣ Identifying the Entry Zone:
If the Main Line is below 30, consider looking for a long entry point.
2️⃣ Confirming the Signal:
Place a vertical line at the moment when the Main Line crosses the 30 level from below.
3️⃣ Confirmation on a Lower Timeframe:
Switch to a 30-minute timeframe and wait for the Main Line to cross above the 70 level.
Enter a long position at this point.
4️⃣ Analyzing Percentage Price Change:
Check the historical indicator behavior:
If a similar past movement resulted in a ~10% price increase (green fill), this may indicate potential upward momentum.
5️⃣ Setting Take-Profit:
Set a take-profit level at 10%, based on previous price movements.
Also, monitor when the Main Line crosses the 70 level, as this may signal a potential profit-taking point.
📊 Conclusion:
This method helps to precisely determine entry points by confirming signals across multiple timeframes and analyzing the historical volatility of the asset. 🚀
Example 2: Analyzing Percentage Price Change
📌 Scenario:
You have set the Barsback parameter to 30, and the indicator shows +3.5%. This means that over the last 30 candles, the price has increased by 3.5%.
However, such small changes might be visually difficult to notice. To improve visibility, you can enable the multiplier (1000), which will scale the displayed percentage change to 35%. This is purely for visual convenience—the actual price movement remains 3.5%.
✅ How to Use:
1️⃣ Identifying Trend Direction:
If the percentage change is positive (green area) → Uptrend.
If the percentage change is negative (red area) → Downtrend.
2️⃣ Analyzing Movement Strength:
Compare the current percentage change with previous waves to evaluate the strength of the movement.
For example:
If previous waves reached 10% or more, a current wave of 3.5% might indicate a weak trend or a local correction.
3️⃣ Additional Filtering with the Main Line (Gray Line):
Use the Main Line to confirm the trend.
If the percentage change shows an increase, but the Main Line is still below 30, further upward movement can be expected.
If the percentage change indicates a decline, but the Main Line is above 70, there is a higher probability of a downward reversal.
"It's unfortunate that TradingView restricts adding images to indicator descriptions unless you have a paid subscription. This makes it harder to share free tools effectively."
Hammer and Shooting Star Alerts - FrmRisk2RichesThis custom Pine Script indicator helps traders identify potential reversal signals in the market by detecting the formation of Hammer and Shooting Star candlestick patterns on multiple timeframes. The indicator automatically analyzes the 1-minute, 5-minute, 15-minute, and 30-minute charts, alerting you when a Hammer or Shooting Star candle forms on any of these timeframes.
2xSPYTIPS Strategy by Fra public versionThis is a test strategy with S&P500, open source so everyone can suggest everything, I'm open to any advice.
Rules of the "2xSPYTIPS" Strategy :
This trading strategy is designed to operate on the S&P 500 index and the TIPS ETF. Here’s how it works:
1. Buy Conditions ("BUY"):
- The S&P 500 must be above its **200-day simple moving average (SMA 200)**.
- This condition is checked at the **end of each month**.
2. Position Management:
- If leverage is enabled (**2x leverage**), the purchase quantity is increased based on a configurable percentage.
3. Take Profit:
- A **Take Profit** is set at a fixed percentage above the entry price.
4. Visualization & Alerts:
- The **SMA 200** for both S&P 500 and TIPS is plotted on the chart.
- A **BUY signal** appears visually and an alert is triggered.
What This Strategy Does NOT Do
- It does not use a **Stop Loss** or **Trailing Stop**.
- It does not directly manage position exits except through Take Profit.
Grouped EMAsThis indicator displays grouped EMAs across multiple timeframes (5m, 15m, 30m, and 60m) on a single chart. It allows traders to easily track key EMA levels across different timeframes for better trend analysis and decision-making.
Key Features:
Adjustable EMA Length: Change the EMA period once, and it updates across all timeframes simultaneously.
Multi-Timeframe Support: Displays 365 EMA High and Low for 5-minute, 15-minute, 30-minute, and 60-minute intervals.
Clear Color Coding: Each timeframe is color-coded for quick visual recognition.
How to Use:
Adjust the EMA length using the input option to set your preferred period.
Observe the EMAs across different timeframes to identify support, resistance, and trend directions.
Combine with other indicators or price action strategies for enhanced trading insights.
This tool is ideal for traders looking to simplify multi-timeframe analysis while maintaining flexibility with the EMA period.
Enjoy more informed trading and enhanced trend analysis with Grouped EMAs!
Previous Hour High and Low### **🔷 Previous Hour High & Low Indicator – Description**
#### 📌 **Overview**
The **Previous Hour High & Low Indicator** is designed to help traders identify key levels from the last completed hourly candle. These levels often act as **support and resistance zones**, helping traders make informed decisions about potential breakouts, reversals, and liquidity grabs.
#### 🎯 **How It Works**
- At the start of every new hour, the indicator **locks in** the **high and low** from the **previous fully completed hour**.
- It then **draws horizontal lines** on the chart, marking these levels.
- Works **only on intraday timeframes** (e.g., 1m, 5m, 15m, 30m), ensuring clean and relevant levels.
- Updates dynamically **every new hour** without repainting.
#### 🔑 **Why Is This Useful?**
✔ **Identifies Key Liquidity Zones** – The market often reacts to previous hour highs/lows, making them useful for stop hunts, liquidity grabs, and order block setups.
✔ **Works Well with ICT Concepts** – If you're trading **ICT kill zones**, these levels can help in finding optimal trade entries.
✔ **Helps with Breakout & Rejection Setups** – Traders can watch for price breaking or rejecting these levels for trade confirmation.
✔ **Useful for Scalping & Day Trading** – Works best for short-term traders looking for intraday movements.
#### ⚙ **Customization Options**
- The high and low levels are color-coded:
🔵 **Previous Hour High (Blue)** → Acts as potential resistance or breakout point.
🔴 **Previous Hour Low (Red)** → Acts as potential support or breakdown level.
#### 📊 **Best Timeframes to Use This On**
- **1-minute, 5-minute, 15-minute, 30-minute charts** → Most effective for intraday trading.
- Avoid using on **hourly or higher timeframes**, as these levels become less relevant.
---
🚀 **This indicator is perfect for traders looking to track short-term price reactions at key levels.** Let me know if you want to add alerts, zone shading, or any other enhancements! 🔥
Daily Open @Alpha PipsOverview
The Daily Open @Alpha Pips indicator displays the daily opening price as a reference line on the chart. This level is widely used by traders to gauge market sentiment, potential support/resistance zones, and price reactions throughout the trading session.
How It Works
The line color is red with a 30% transparency level, ensuring visibility without overwhelming the chart.
The line width is set to 2 for clear visualization.
Use Cases
Identify potential intraday support/resistance at the daily open.
Observe price reactions around the daily open level to refine entries and exits.
Use in conjunction with price action, order flow, or smart money concepts for enhanced decision-making.
Additional Information
Works on any timeframe but is best suited for intraday trading strategies.
The script is fully transparent, ensuring traders can easily understand its function.
It does not repaint, providing reliable and stable levels throughout the session.
