Candle DecompositionThe Candle Decomposition indicator shows the last 2 candles in detail, with 2 levels of lower timeframes (LTF).
In this way, you can keep oversight of history, while zooming in on the last and previous candle.
This tool is meant to be used in realtime, preferentially for intraday usage.
🔶 USAGE
In this example, on the current timeframe of 15 minutes, you see the 2 latest candles, visualized through dotted lines/boxes.
The first LTF level is set at 5 minutes, the second level at 15 seconds:
(The 2 exclamation marks are just to emphasize this is the latest price which will be repainted)
The combination of 2 LTF's can be helpful in finding support/resistance levels.
These are taken in realtime, not in bar replay, so the outcome wasn't known in advance:
(blue lines were drawn manually)
After first testing resistance, the price went to the support area, bouncing back to an area of resistance and breaking it briefly.
Price turned back, and found support, after which resistance was tested once more:
Support was again tested, after which resistance was clearly broken:
A bit later (every time 1 candle further):
The following example shows 2 last candles with signs of indecision, but LTF candles show support and resistance areas:
🔶 IMPORTANT
PP = TradingView Premium / Professional Plan
BEP = TradingView Basic / Essential / Plus Plan
This publication uses second-based TF's, which is only available for PP users.
To ensure a smooth experience for BEP users, we have disabled the setting "Premium/Professional Plan" .
BEP users will get a warning when trying to use a second-based TF.
If possible, BEP users should use non-second-based TF's.
PP users have to enable the setting "Premium/Professional Plan" .
🔶 DETAILS
🔹 Timeframes
Most common timeframes can be used: 2W, W, 3D, 2D, D, 12h, 8h, 6h, 4h, 3h, 2h, 1h, 30min, 15min, 10min, 5min, 3min, 1min
When having the current chart timeframe at 1 of these TF's, you can set 1st and 2nd LTF. Choices are pré-set to ensure maximum usage of drawings:
In the image above you'll see there are gaps between candles.
The script ensures that when there are no trades, instead of attaching the next bar next to the previous, it leaves the gap visible (which is more realistic).
More in detail you can see the gaps are preserved:
(compared between white -current TF- candles, and LTF candles)
🔹 Limitations
When on a Weekly TF, and 2nd LTF is set at 4h, all drawings have enough space:
If we change the 2nd LTF to 2h, there isn't enough space for the second last candle, after which an orange coloured informational warning label will be shown:
When current chart TF is not 1 of the encoded TF's, a red warning text will be shown:
This script can be used using "Bar Replay", but very limited.
You can change the date ("Jump To..."), but "Play" is not advisable.
🔹 Code
This script uses string manipulation to convert inputs like "1 hour", "5 min", "5 sec" to usable timeframe strings like "60", "5" and "5S"
• str.contains(str , 'hour') ? str.tostring(str.tonumber(str.replace(str, ' hour', '')) * 60) : str
• str.replace(input.string( '5 sec', '' , options= ), " sec", "S")
• str.replace(str, " min", "")
Since string manipulation consumes resources, these are place in local blocks.
While inputs always will be extracted, whether it is put in an if-block or not, the string manipulation only will be executed when condition is fulfilled, in this case when we are at the right timeframe.
In following example you'll always see the '1 sec' input, on every TF, but the string manipulation will only happen when we are at a 1 minute TF:
str = ''
if timeframe.period == '1'
str := str.replace(input.string( '1 sec', '' , options= ), " sec", "S")
// output -> "5S" or "1S"
The "visible chart function" chart.right_visible_bar_time is used to reset everything when a new candle starts. This makes sure that when using "barstate.islastconfirmedhistory", the second last bar is used. Also all lines & boxes are automatically removed, starting with a fresh slate.
chT = timenow > chart.right_visible_bar_time
•••
if chT
if barstate.islastconfirmedhistory
f(4)
if barstate.islast
f(2)
If boxes/lines end up before the first bar, or after the last bar, this can be messy.
To protect ourselves against it 2 techniques are used:
math.max(0, x) is used to make sure lines & boxes don't end up before the first bar,
isOK = index < last_bar_index is used to be sure that the width of 1 candle (here index) is not wider than the total of all bars (which is the same as last_bar_index)
🔶 SETTINGS
3 columns:
Current TF: This columns shows you the chart TF where LTF settings are applicable.
1st LTF: set the timeframe of the first level LTF
2nd LTF: set the timeframe of the second level LTF
Colours can be set for 3 timeframes
在腳本中搜尋"support resistance"
SHIBO V6.0**SHIBO v6 - Fibonacci Impulse Analysis Indicator**
*By Shahab Sadeghi (@shahabs2004)*
**Overview:**
Welcome to SHIBO v6, a revolutionary Fibonacci Impulse Analysis Indicator designed to harness the power of a unique chart pattern. The script employs a reverse Fibonacci methodology to identify powerful impulses that first reach Fibonacci level 0.382, experience a correction, and then continue toward Fibonacci level 1. This description delves into the intricacies of how the script calculates precise price targets based on this distinctive pattern.
keep in mind that this Indicator is based on this Idea that each Impulse have its own support and Resistant Levels(stop loss and Target)
**Key Features:**
1. **Reverse Fibonacci Calculation:** SHIBO v6 introduces a novel approach to Fibonacci analysis. Instead of the conventional method where price targets are set from Fibonacci 0 to 1, this script calculates the distance price moves towards Fibonacci 1 from 0.382. This innovative technique identifies potential reversal and continuation zones with unparalleled accuracy.
2. **Impulse and Correction Identification:** Users play a pivotal role in recognizing high-probability trading opportunities. The script requires manual selection and marking of powerful impulses, focusing on identifying corrections and anticipating potential reversal zones within these impulses.
3. **Optimized Fibonacci Levels:** Leveraging the reverse Fibonacci approach, the script dynamically computes and draws Fibonacci retracement levels (R1, R2, R3) based on the calculated distance the price has moved towards Fibonacci 1. These levels serve as strategic benchmarks, offering insights into potential price movements and areas of interest.
4. **Dynamic Line Drawings:** SHIBO v6 features dynamic line drawings, including impulse start and end points, Fibonacci levels, and stop-loss levels. These visual elements facilitate a comprehensive understanding of the analysis, assisting users in making well-informed trading decisions.
5. **Informative Table Display:** A dedicated table provides crucial information, including impulse start and end points, Fibonacci levels, and percentage deviations from the current price. This table enhances the user's grasp of the analyzed data, fostering effective decision-making.
6. **Prefix Identification:** Users employing multiple SHIBO indicators on a chart can use the Prefix input to assign a unique identifier to each instance. This streamlines the analysis process, particularly when dealing with multiple instances of the indicator.
**How the Script Calculates Targets:**
1. **Impulse Recognition:** Users manually identify a robust impulse in the price movement, signifying a potential trend change or continuation.
2. **Correction Confirmation:** Anticipate or confirm the start of a correction phase within the selected impulse. Corrections often occur after a strong price movement.
3. **Manual Setting of IS and IE Points:** Set the impulse start (IS) and end (IE) points manually based on the identified impulse and correction.
4. **Fibonacci Level Calculation:** The script dynamically calculates Fibonacci levels (R1, R2, R3) based on the distance the price has moved towards Fibonacci 1 from 0.382. These levels serve as potential targets and areas of interest.
5. **Visual Representation:** The script visually represents the calculated levels through dynamic line drawings, providing a clear picture of potential reversal and continuation zones.
**Advanced Usage (Pro Users):**
- **Customizable Line Drawings:** Explore the commented-out lines in the script for additional functionalities and customization options for line drawings. Pro users can tailor the script to align with unique trading strategies.
**Disclaimer:**
Trading carries inherent risks, and SHIBO v6 introduces a distinctive approach to technical analysis. Exercise caution, conduct thorough analysis, and consider risk management strategies before making trading decisions. Past performance does not guarantee future results.
**Support and Feedback:**
Join the community of traders committed to refining strategies based on reverse Fibonacci impulse analysis. Share your experiences, insights, and suggestions to contribute to the continuous improvement of SHIBO v6.
**how Calculations Goes ?**
Imagine you're analyzing a stock price:
IS (Initial Start Price): Let's say the stock price starts at $100.
IE (Initial End Price): After a significant movement, the price reaches $120.
1. Identify Fibonacci Retracement Levels:
fi1 (0.382): This level suggests a potential retracement of 38.2% of the upward move.
fi2 (0.5000): This level represents a 50% retracement, or halfway back to the starting price.
fi3 (0.6180): This level represents the "Golden Ratio" and another potential support/resistance area.
fi4 (0.7860): This level suggests a retracement of 78.6% and can also be used for stop-loss calculations.
2. Calculate Multiples:
m1: Divide the final price ($120) by the starting price ($100) raised to the power of fi1 (120 / 100^0.382). This gives you a value we'll use later.
m2: Similar calculation, but using fi2 instead of fi1.
m3: Similar calculation, but using fi3 instead of fi1.
3. Calculate Target Prices:
Take Profit (Resistance)
TP1: Raise the value of m1 to the power of 1/(1-fi1). This gives you a potential upside target price based on the 38.2% retracement level.
TP2: Similar calculation, but using m2 and fi2.
TP3: Similar calculation, but using m3 and fi3.
4. Calculate Stop-Loss Levels:
Stop loss(Support)
SL1 or Support: Multiply TP1 by the starting price ($100) raised to the power of fi4. This gives you a potential downside stop-loss level based on the 78.6% retracement from TP1.
SL2: Similar calculation, but using TP2 and fi4.
SL3: Similar calculation, but using TP3 and fi4.
5. Calculate Midpoint Level:
MID: Multiply TP1 by the starting price ($100) raised to the power of fi3. This gives you a potential support/resistance level halfway between TP1 and the starting price.
Remember, these are just potential levels and not guaranteed. It's important to use other technical and fundamental analysis alongside Fibonacci retracements.
Here's the breakdown of the steps and their results:
1. Fibonacci levels define potential support and resistance areas:
The chosen Fibonacci levels (0.382, 0.5, 0.618, and 0.786) are often seen as potential zones where the price might stall or reverse after a strong move.
2. Multiples and target prices:
The multiples (m1, m2, m3) represent price ratios based on different retracement levels.
Target prices (TP1, TP2, TP3) are calculated by raising these multiples to specific exponents. These prices suggest areas where the price might encounter resistance after a retracement (not guaranteed predictions).
3. Stop-loss levels:
Stop-loss levels (SL1, SL2, SL3) are based on the target prices and another Fibonacci level (0.786). They mark price points where a trader might exit a trade to manage risk if the price moves against them.
Essentially, the calculations translate Fibonacci retracement levels into concrete price points for potential entry (targets) and exit (stop-loss) points.
*Happy Trading and Empowered Analysis!*
MA Support & Resistance SignalThis indicator is to show MA Support/Resistance and trend of a stock.
It contains three (3) Moving Averages that can be set to SMA or EMA:
1. Upper Line : SMA 5 (default)
2. Lower Line : SMA 20 (default)
3. Support/Resistance Line : SMA 10 (default)
Other signals:
1. Bull and Blue Dotted Line signal: Upper Line (SMA 5) crossover with Lower Line (SMA 20).
2. Bear and Red Dotted Line signal: Lower Line (SMA 20) crossover with Upper Line (SMA 5).
3. Red Triangle signal: Price closes below Support/Resistance Line (SMA 10).
4. Green Bar signal: Price breaks Support/Resistance Line (SMA 10).
The way how I use it:
- Since I don't like my chart to be crowded with a lot of moving averages, I will disable SMA 5 and SMA 10 and will only leave SMA 20 as my final support line.
- Entry when only:
1. Bull signal appeared.
2. Green bar appeared, or;
3. Price rebound on SMA 20.
I let the script open so that you guys can custom it based on your own preferences. Hope you guys enjoy it.
Exceptional Volume Spike - Potential Trend Reversal IndicatorWhat the Script Does:
The indicator aims to identify potential trend reversal points using the following steps:
Input Parameters: The script has three main input parameters that you can adjust:
relative_volume_threshold: This parameter sets the threshold for what is considered an exceptional volume spike in relation to the average volume.
ema_length: The length of the exponential moving average (EMA) used for smoothing calculations.
lookback_period: The period over which the script calculates potential support and resistance levels.
Relative Volume Calculation: The script calculates the relative volume by dividing the current volume by the average volume over the specified lookback_period.
Exceptional Volume Spikes: The script identifies exceptional volume spikes when the calculated relative volume exceeds the specified relative_volume_threshold.
EMA of Exceptional Volume Spikes: The script calculates the exponential moving average (EMA) of volume spikes. This EMA smooths out the volume spikes over the chosen ema_length.
Trend Direction: The script determines the trend direction using the crossovers of the EMA of exceptional volume spikes. If the EMA crosses above the EMA of regular volume (not spikes), it suggests a potential upward trend reversal. Conversely, if the EMA crosses below, it suggests a potential downward trend reversal.
Support and Resistance Levels: The script calculates potential support and resistance levels based on the highest high (hh) and lowest low (ll) over the specified lookback_period. These levels are then plotted on the chart.
Plot Shapes and EMA: The script plots triangle shapes below the bars for potential upward reversals and above the bars for potential downward reversals. Additionally, it plots the EMA of the closing price with different colors based on the trend direction.
By using this script as an indicator on your chart, you can visually assess potential trend reversal points based on exceptional volume spikes, trend direction crossovers, and support/resistance levels. Remember that this script serves as a tool to assist your analysis, and it's important to combine it with other technical analysis tools and strategies before making trading decisions.
Murrey Math Horizontal/Diagonal + Subharmonics 0 - 12 [All-Time]The Murrey Math lines are created by dividing the range between the high and low of the monthly timeframe prices into equal parts based on the division factor from 2 to 12.
No matter which timeframe you will use, because the calculations based on the most high and low price values.
Better to use > monthly timeframe for faster calculations.
These lines serve as potential support and resistance levels.
The midlines are dashed lines representing the midpoint between two consecutive Murrey Math lines.
The diagonal lines can be enabled to show two different types or both types. These lines connect the highs or lows of the price bars in a diagonal manner.
The subharmonic lines represent smaller divisions within each Murrey Math range. They can be customized to show only strong subharmonics or all subharmonics. Subharmonics are calculated based on the division factor and can provide additional support and resistance levels within the Murrey Math framework.
This script helps visualize the Murrey Math levels and their associated lines on a trading chart, aiding traders in identifying potential price levels for decision-making.
The most strong levels which I tested were: 2, 4, 6, 8, 12.
I was inspired by Gann's work and i tried to implement this indicator.
It's the most accurate version of Murrey Math calculations, you can set the value of 8 which Gann was used but I did up to 12 because of my experiments and I would recommend you to use the value of 12.
This indicator can be used for all types of markets.
Also note, that the strong levels described above is tested on division by 12 setting.
Anyway, you can use the divison of 8 and use the standart strong s/r levels.
(for more information search for Gann 2.0 support resistance on the internet).
Also note: this information is not a financial advice, just my opinion to the indicator I implemented. Please use this indicator wisely and focus to save your money, not earn.
I wish you profitable trades, stick to your risk/money management and the key entry points!
Pivots Support Resistance ZoneThis simple script base on function of Pivot High Low to plot Support and Resistance Zone on chart with detail as below:
1. Support Zone
+ New Pivot Low is plotted
+ New Pivot Low lower previous Pivot Low
+ Upper Line of Support Zone is previous Pivot Low
+ Lower Line of Support Zone is new Pivot Low
2. Resistance Zone
+ New Pivot High is plotted
+ New Pivot High higher previous Pivot High
+ Upper Line of Resistance Zone is new Pivot High
+ Lower Line of Resistance Zone is previous Pivot High
DR/IDR Candles [LuxAlgo]This indicator displays defining ranges (DR) and implied defining ranges (IDR) constructed from two user set sessions (RDR/ODR) as graphical candles on the chart. The script introduces additional graphical elements to the original DR/IDR concept and as such can be thought as a graphical method in addition to a technical indicator.
Additionally, this script can display various Fibonacci retracements from the constructed DR/IDR if enabled within the settings.
Settings
Regular Session: Enable/disable regular session's DR/IDR alongside setting the session time. By default, 09:30 - 10:30 am.
Overnight Session: Enable/disable overnight session's DR/IDR alongside setting the session time. By default, 03:00 - 04:00 am.
UTC Offset: UTC offset for the time zone, by default -5 (EST)
Retracements
Reverse: Inverts source range upper/lower value for constructing the retracements.
From: Source range used to construct the retracements, by default DR is used.
By default, the 0.5 retracement (average line) is displayed.
Usage
The used sessions are highlighted by a gray background. DRs are highlighted by dashed lines while IDRs are highlighted by solid ones. The maximum/minimum price between each user set session is highlighted by solid wicks.
The color of the DRs/IDRs/wicks are determined by the price position relative to the DR; if price is above the DR maximum, then a blue color is used. If price is below, then an orange color is used, and if price is within the DR range, then a gray color is used.
Additionally, the area of the DR range is used to highlight the number of time price is located within the DR, with a longer background highlighting a higher number of occurrences. This can help highlight if the DR levels were potentially useful as support/resistance.
When price is outside the IDR range, the area between the price and IDR is highlighted, in blue if price is above the IDR, and orange if it is under.
The original author of the DR/IDR concept describes 3 rules using the price position relative to the DR/IDR levels:
1.) If price on the 5-minute timeframe closes above the DR high after 10:30 AM or 04:00 AM then the DR low will likely be the low of the trading session.
2.) If price on the 5-minute timeframe closes below the DR low after 10:30 AM or 04:00 AM then the DR high will likely be the high of the trading session.
3.) If price closes above the IDR high after 10:30 AM or 04:00 AM it is an early indication that the low of the DR will be the low of the day and vice versa.
We can see that the above rules are cases of conditional probabilities.
There is no significant data supporting or regarding any statistical probability of the above rules to be true, which are more than uncertain given the stochastic nature of prices. The lack of precision of these rules is also a concern (time zone dependance, applicable markets, etc...).
Credits
Credits to trader TheMas7er who originally created the DR/IDR concept in November of 2022. This script was derived from his proposed session times & rules for trading.
Auto Fibonacci Levels + Auto Trend Line generatorAnother indicator for you guys!!!
This indicator consists of the 5 key Fibonacci retracement levels, plotted automatically to user input settings. I also have included an auto support/resistance trend line generator.
What is a Fibonacci retracement?
'Fibonacci retracement is a method of technical analysis for determining support and resistance levels. It is named after the Fibonacci sequence of numbers, whose ratios provide price levels to which markets tend to retrace a portion of a move before a trend continues in the original direction.' - Wikipedia
How to use the Fibonacci retracement?
- The Fibonacci levels are default. These percentiles from price to the average of the high in a sample and low in a sample give you a guideline of where a bottom may be, where a top may be, and where a range is being created.
- Look for the price to reject from 61.8% and 76.4%, and also look for price to bounce from 38.2% and 23.6%. If a lower low/higher high is made, the fib levels will follow and the percentiles within will be recalculated after a 5 candle offset period.
- If you see price trending towards the lower percentiles (38&23) and using the 50% as resistance, look for a break downwards and vice versa.
-This Fibonacci set as all others is subject to fake-out, always use this with another series indicator, or don't use it as a signal for entry at all (unless you have a backdated strategy)
How to use the trend line generator?
-The trend line generator will only plot when a lower low/higher high has taken place within the input amount of candles. It is also offset by a user amount.
-The check box will give the option to have the trend line's plot or not.
- If you see a green/red dot it means that that will be your first coordinate for the trend line, and until the computations are complete it will give you an idea of which direction it will be in (resistance or support)
-When opening this indicator zoom out all the way to connect any trend lines that do not load automatically.
Let me know if you have any questions, suggestions or issues! Thank you everyone!
-Cheatcode1 :)
SP:SPX TVC:DXY BMFBOVESPA:EUR1! CME:BTC1! BINANCE:BTCUSDT
HSRL - historical support resistance linesHSRL provides an indicator of how support and resistance are changing over time. It calculates the percent change in lows, and percent change in highs, then plots them. The HSRL is calculated as the support change - the resistance change. Can be effective in confirming trends, with green being the most bullish, yellow being semi bullish and red being a bearish indicator, where resistance and support are falling.
MACD Support ResistanceThis script is dynamic support & resistance based on MACD cross.
Resistance= Highest value of candle looks back when MACD crossunder.
Support= Lowest value of candle looks back when MACD crossover.
Middle line is average of Resistance and Support.
Buy when close, LSMA and SMMA crossover middle line. Please use Green Trend Line as SL or Trailing.
Sell when close, LSMA and SMMA crossunder middle line. Please use Red Trend Line as SL or Trailing.
Let me know if its useful for you in the comments and by giving Like (means a lot to me). Also share your feedback and ideas to improve this script further.
PFCC - Pivot Fractal Chaos Channel [Open Source]With the release of my indicator "TOTC - Trade outside the Channel" , the Pivot Fractal Chaos Channel used there has attracted significant interest.
Due to requests from some users, I am happy to publish the source code of the PFCC - although it is not "new" and has been implemented in many other scripts in one way or another. Some Examples:
Support and Resistance Levels with Breaks:
Support Resistance MTF:
Pivot Points High Low (HH/HL/LH/LL):
The code is briefly commented. Please feel free to use or further customize it ... And, of course, I would be happy to be named and/or linked. If you're satisfied, maybe buy me a coffee ;-)
I'm curious to see how this indicator will develop with more ideas - Please keep me updated by commenting below or by sending me a message.
Let's take a quick look at the function and idea
PFCC - "Pivot Fractal Chaos Channel" or also known as "Fractal Chaos Band" can serve as a baseline trend indicator for your strategy.
Essentially, the "Fractal Chaos Channel" shows an overall panorama of price action. As they filter out the insignificant price fluctuations. The upper level is created by drawing price highs and the lower level is created by drawing price lows.
Two Ideas, how this indicator can be used
Trend indicator: If the price breaks the upper line, it could be taken as a buy signal. If the price breaks the lower line, it could be taken as a sell signal.
Trailing Stop Loss: You can track the stop loss with the rising line in case of a buy trade. On the other hand, you can track the stop loss with the falling fractal line in case of a sell trade.
What do I need to consider?
It may be advisable to add further indicators and an analysis of the market structure in order to confirm the signals issued by the indicator. Please note that when you make adjustments to any strategy, you always carry out particularly detailed tests.
You would like to use this indicator, but you have adjustment requests, you want to have additional filters or features implemented, ...?
I am happy to create individual indicators based on "PFCC - Pivot Fractal Chaos Channel" or your ideas. Write me a message and we will discuss the details and conditions.
Adaptive Ehlers Deviation Scaled Moving Average (AEDSMA)AEDSMA INTRODUCTION
This indicator is a functional enhancement to “Ehlers Deviation Scaled Moving Average (EDSMA / DSMA)”. I’ve used Volume Breakout and Volatility for dynamic length adaption and further Slope too for trend evaluation.
EDSMA was originally developed by John F. Ehlers (Stocks & Commodities V. 36:8: The Deviation-Scaled Moving Average).
IDEA PLACEMENT
I’ve traded almost every kind of market with different volatility conditions using Moving Averages. It was too much of a hassle to select and use different MA length depending upon market trend. So, the journey started with adapting Moving Averages with another parameter and that’s how “MZ SAMA ” came into being where Slope was used to adapt Adaptive Moving Average with trend change. The problem was still pretty much the same as SAMA might not be effective on every market condition. Hence, I worked on Volume to adapt Moving Averages accordingly. I cane up with “MZ RVSI ” which I used in “MZ DVAMA ” to adapt dynamic length in Adaptive Moving Average and also used “MZ RVSI " alongside Slope as confirmation of trend changes.
Meanwhile, I started using DVAMA methodology on different types on Moving Averages that allow dynamic length for example Hull Moving Average, Linear Regression Curve, SMA, WMA, TMA and many more. All of my tested Mas showed too much flexibility because of volume based Adaptive length.
I came across a script of “Adaptive Hull Moving Average” which pretty much used the similar methodology as DVAMA but when I looked into its depth, its volume oscillator wasn’t working at all and only volatility based dynamic length was used. It was an interesting idea so, I decided to use Volume and Volatility alongside for better results but was nearly impossible to achieve what I wanted using only Hull Moving Average.
I had been using EDSMA in “MA MTF Cross Strategy” and “MZ SRSI Strategy V1.0” previously. It was the perfect choice when comparing to usage of slope on it. DSMA works perfectly as support and resistance as its Deviation Scaled. So, I tried using it to adapt dynamic length based on Volume and Volatility and I wasn’t disappointed. It worked like a charm when I adapted dynamic length between 50 and 255.
DYNAMIC LENGTH BENEFITS
Dynamic length adaption methodology works in a way of adapting Relatively Lower Length leading toward overfitting if trend is supported by Volume and Volatility . Similarly, adapting Relatively Higher Length leading toward underfitting if trend isn’t supported by Volume and Volatility .
Dynamic length adaption makes Moving Average to work better for both Bull and Bear-runs avoiding almost every fake break-in and breakouts. Hence, adaptive MA becomes more reliable for breakout trading.
MA would be more useful as it would adapt almost every chart based on its Volume and Volatility data.
DYNAMIC COLORS AND TREND CORRELATION
I’ve used dynamic coloring to identify trends with more detail which are as follows:
Lime Color: Strong Uptrend supported by Volume and Volatility or whatever you’ve chosen from both of them.
Fuchsia Color: Weak uptrend only supported by Slope or whatever you’ve selected.
Red Color: Strong Downtrend supported by Volume and Volatility or whatever you’ve chosen from both of them.
Grey Color: Weak Downtrend only supported by Slope or whatever you’ve selected.
Yellow Color: Possible reversal indication by Slope if enabled. Market is either sideways, consolidating or showing choppiness during that period.
SIGNALS
Green Circle: Market good for long with support of Volume and Volatility or whatever you’ve chosen from both of them.
Red Circle: Market good to short with support from Volume and Volatility or whatever you’ve chosen from both of them.
Yellow Cross: Market either touched top or bottom ATR band and can act as good TP or SL.
EDSMA EVELOPE/BANDS: I’ve included ATR based bands to the Adaptive EDSMA which act as good support/resistance despite from main Adaptive EDSMA Curve.
DEFAULT SETTINGS
I’ve set default Minimum length to 50 and Maximum length to 255 which I’ve found works best for almost all timeframes but you can change this delta to adapt your timeframe accordingly with more precision.
Dynamic length adoption is enabled based on both Volume and Volatility but only one or none of them can also be selected.
Trend signals are enabled based on Slope and Volume but Volatility can be enabled for more precise confirmations.
In “ RVSI ” settings TFS Volume Oscillator is set to default but others work good too especially Volume Zone Oscillator. For more details about Volume Breakout you can check “MZ RVSI Indicator".
ATR breakout is set to be positive if period 14 exceeds period 46 but can be changed if more adaption with volatility is required.
EDSMA super smoother filter length is set to 20 which can be increased to 50 or more for better smoothing but this will also change slope results accordingly.
EDSMA super smoother filter poles are set to 2 because found better results with 2 instead of 3.
FURTHER ENHANCEMENTS
So far, I’ve seen better results with Volume Breakout and Volatility but other parameters such as Linear Slope of Particular MA, MACD, “MZ SRSI ”, a Conditional Uptrend MA or simply KDJ can also be used for dynamic length adaption.
I haven't yet gotten used to pine script arrays so, defining and using conditional operators is pretty much lazy programming for me. Would be great redefining everything through truth matrix instead of using if-else conditions.
Signal Table - AutoFib - SMA - EMA - RSI - ATR - VolWith this indicator you can add a table on top of your chart.
What's in this table?
On which graph you open this table, the indicator data at the selected time of that graph are written. In the image below, you can see the table in the upper right.
You can also see two EMAs above the chart in this indicator. You can adjust their length.
You can add automatic fibonacci retracement levels to the top of the chart. In this way, you can see the Fibonacci levels on the chart and determine the support resistance. If the price is above the Fibonacci level, it will appear green on the chart, and red if below. You will understand as you use it.
It turns red if the RSI is below 30 and green if it is above 70.
Likewise, if the price is above the moving averages you have set, it appears as green, and if it is below it, it appears as red.
You can hide and activate the EMA and Fibonacci levels above the chart.
For example, you can get the ETH chart while the BTC chart is open in front of you. I think you will understand everything clearly from the settings tab below. Please support me. I hope you will be satisfied using it.
Universal logarithmic growth curves, with support and resistanceLogarithmic regression is used to model data where growth or decay accelerates rapidly at first and then slows over time. This model is for the long term series data (such as 10 years time span).
The user can consider entering the market when the price below 25% or 5% confidence and consider take profit when the price goes above 75% or 95% confidence line.
This script is:
- Designed to be usable in all tickers. (not only for bitcoin now!)
- Logarithmic regression and shows support-resistance level
- Shape of lines are all linear adjustable
- Height difference of levels and zones are customizable
- Support and resistance levels are highlighted
Input panel:
- Steps of drawing: Won't change it unless there are display problems.
- Resistance, support, other level color: self-explanatory.
- Stdev multipliers: A constant variable to adjust regression boundaries.
- Fib level N: Base on the relative position of top line and base line. If you don't want all fib levels, you might set all fib levels = 0.5.
- Linear lift up: vertically lift up the whole set of lines. By linear multiplication.
- Curvature constant: It is the base value of the exponential transform before converting it back to the chart and plotting it. A bigger base value will make a more upward curvy line.
FAQ:
Q: How to use it?
A: Click "Fx" in your chart then search this script to get it into your chart. Then right click the price axis, then select "Logarithmic" scale to show the curves probably.
Q: Why release this script?
A: - This script is intended to to fix the current issues of bitcoins growth curve script, and to provide a better version of the logarithmic curve, which is not only for bitcoin , but for all kinds of tickers.
- In the public library there is a hardcoded logarithmic growth curve by @quantadelic . But unfortunately that curve was hardcoded by his manual inputs, which makes the curve stop updating its value since 2019 the date he publish that code. Many users of that script love using it but they realize it was stop updating, many users out there based on @quantadelic version of "bitcoin logarithmic growth curves" and they tried their best to update the coordinates with their own hardcode input values. Eventually, a lot of redundant hardcoded "Bitcoin growth curve" scripts was born in the public library. Which is not a good thing.
Q: What about looking at the regression result with a log scale price axis?
A: You can use this script that I published in a year ago. This script display the result in a log scale price axis.
Divina - Support and ResistanceGiven the positive feedback received on the first Dynamic Support/Resistance script, I've decided to rewrite it on Pine Script v5 and publish it with open source code.
The main Divina area (box) is derived from change in price and volume, while the other support and resistance levels are based on the golden ratio (Divina proportione) or Fibonacci numbers.
The box will start to paint if the previous closed bar satisfy a condition and it will be never be repainted in the future. Anyway the box and the levels will be extended until a new signal is detected.
The Divina Support and Resistance will help you to find good price zones on wich the market might take trading decision. It is not a strategy by per se, it should be used with other good trading techniques.
+ ATR Support and ResistanceThis, a very different script from most of mine, is my attempt at making a useful, and not messy, support and resistance indicator. If you've never looked into trader xkavalis, and his scripts and discord, I would highly recommend it. He talks about "pay attention candles" a lot. It got me thinking about what those are. Best as I can tell all he means by that phrase is large, impulsive candles. Sometimes these lead to break outs of ranges, or they may signal tops, bottoms, or near-tops and bottoms. The only way I could make sense of this in a mathematical way was by using the average true range. Basically, any candle's true range outside of the ATR is considered a "pay attention candle," by my definition.
This script originally began as just a candle coloring exercise with some optional shapes plotted above/below certain candles, but I quickly realized I wanted to draw lines or zones from these candles, so eventually, after many hours spent figuring out and learning 'line.new' and 'box.new' I got things sorted.
Essentially, my line of thinking is that on impulsive candles down, the origin of the impulse is more important than the close (not always of course, as there are no unbreakable rules in what markets can do), and with impulsive candles up, the same theory applies.
So, for upward impulsive candles I've marked out the zone from the open to the low as a support (until broken, in which case it may become resistance). For downward impulsive candles the zone encompasses the open to the high. I've given the option to plot a line from the close for all of these. It's turned off by default as it's just less stuff on the chart, but you may like it.
The line length is customizable in a menu. It does funny things on low timeframes on forex and stock charts (long lines that result in chart compression), but for some reason very rarely on crypto charts. If someone who is smart (not me) and has much experience with pinescript could perhaps help me out with a fix for this, that would be great. I suspect it has something to do with my "bar_index_duration" that I defined using the time function, but I'm not sure how or why.
Line length on time frames of one hour and up it is typically fine.
Use the ATR multiple to change the sensitivity of the indicator. This is basically the determination of when a candle is beyond the ATR. A multiple of two is two times the ATR. With lower volatile pairs you can maybe make this lower. On lower time frames or with more volatile pairs (illiquid alts in particular) a higher multiple might serve better. I find the default 1.75 is mostly acceptable.
As I started this I also thought adding some sort of volume information to the candles might be useful as well, so I added a simple candle coloring feature referencing the OBV and a 21 period EMA. Candles are colored based on the OBV's relation to its moving average.
I added some plot shapes and candle coloring utilizing the RSI as well. Options to turn on or off shapes plotted for overbought and oversold across the top of the chart. The most interesting feature that I implemented here is a support/resistance zone around the centerline of the RSI. If the RSI is between 49 and 51 then you can have optional candle coloring, shapes plotted above the candles, and s/r zones drawn on the chart. In trending markets the centerline of the RSI will frequetly act as support or resistance, so by being alerted of this condition on the chart you can use that with actual levels marked off in order to help make a judgement on a trade. I think it's a nice addition, and an oft overlooked aspect of the usefulness of the RSI.
I've also included a calculation, with candle coloring and/or plot shapes, for something like a stop run on high volume. The calculation for that is in its section below, and should be pretty self explanatory.
Lastly, typing this as I'm posting it, this indicator could also be useful for helping to find placement for trailing a stop. Just a thought!
Pivot Boss - CPRThe Central Pivot Range (CPR) is used to identify key price points to set up trades. CPR is beneficial for intraday trading. This indicator can plot:
1. Daily Pivots and Daily Support/Resistance
2. Tomorrow Pivots and Support/Resistance
3. Weekly Pivots and Weekly Support/Resistance
4. Monthly Pivots and Monthly Support/Resistance
5. Previous Day High/Low
6. Previous Week and Month High/Low
Gunzo Market SRGunzo Market SR is a set of 3 tools combined for trend analysis on day trading strategy.
VWAP (Volume Weighted Average Price) :
The VWAP indicator is generally used for trend analysis. For example if the VWAP line is under the closing price for a long period of time, the trend is strong. In this script, the VWAP has been optimized for day trading as the indicator is calculated inside the daily range, and resets when a new day starts. This way the indicator reflects the daily trend and not the overall trend. You can also use the position of closing price according to the VWAP to find optimal entry points according to the indicator.
Highs / Lows :
The Highs / Lows are generally used for trend analysis too. The High / Lows are mainly used to identify prices that have been key during the past and that we can use as an indication for the following candles. In this script, the Highs / Lows are computed on the daily period and then displayed on the current period (recommended to use on a daily period or lower). This way the indicator reflects the highest point and the lowest point of the day (can be modified to have a longer range of pivot days even if I recommend to stay on 1 day for day trading).
Support / Resistance :
The Support / Resistance is generally used for trend analysis too. The Support / Resistance are found by searching local high and lows. The longer the supports and resistance are, the strongest it can be considered. In this script, the Highs / Lows are computed by default on a lower time frame (usually 3-4 times lower). For example on a 15 minute graph, the Highs / Lows will be computed on the 5 minute graph (can be modified if the displayed result is not optimized for your asset).
How to use this set of tools :
I personally recommend to use this tool at the start of your day of trading. This way you will get a clear vision of the daily situation and try to identify key prices and the trend for the current day. I then suggest to set up an alert on the key price to be notified when you're getting close to it.
Volume Support/ResistanceAn Indicator which shows the potential resistance/support level at K bar with significant trading volume.
The logic is stated below:
(current K-bar volume - the past average trading volume of 48 Ks) > 4 *standard deviation of trading volume
When this condition is met, it is considered that the trading volume is particularly enlarged, which may be an area where support pressure is possible
If the K is an ascending K-bar, then draw support at the lowest point; if the K is a descending K-bar, draw resistance at the highest point.
You can change the length and the number the standard deviation in the input section.
Support and Resistance LevelsDetecting Support and Resistance Levels
Description:
Support & Resistance levels are essential for every trader to define the decision points of the markets. If you are long and the market falls below the previous support level, you most probably have got the wrong position and better exit.
This script uses the first and second deviation of a curve to find the turning points and extremes of the price curve.
The deviation of a curve is nothing else than the momentum of a curve (and inertia is another name for momentum). It defines the slope of the curve. If the slope of a curve is zero, you have found a local extreme. The curve will change from rising to falling or the other way round.
The second deviation, or the momentum of momentum, shows you the turning points of the first deviation. This is important, as at this point the original curve will switch from acceleration to break mode.
Using the logic laid out above the support&resistance indicator will show the turning points of the market in a timely manner. Depending on level of market-smoothing it will show the long term or short term turning points.
This script first calculates the first and second deviation of the smoothed market, and in a second step runs the turning point detection.
Style tags: Trend Following, Trend Analysis
Asset class: Equities, Futures, ETFs, Currencies and Commodities
Dataset: FX Minutes/Hours/Days
Support and Resistance StrategySupport and resistance Strategy (FX and Crypto)
Description: This strategy uses “support” S and “resistance” R levels, which can be computed
using the “pivot point” (a.k.a. the “center”) C as follows:
C = (PH + PL + PC) / 3
R = 2 × C - PL
S = 2 × C - PH
Here PH, PL and PC are the previous day’s high, low and closing prices.
One way to define a trading signal is as follows (as above, P is the current price):
Signal:
Establish long position if P > C
Liquidate long position if P ≥ R
Establish short position if P < C
Liquidate short position if P ≤ S
Other definitions of the pivot point (e.g., using the current trading day’s open price) and
higher/lower support/resistance levels exist.
Style tags: Trend Following, Trend Analysis
Asset class: Equities, Futures, ETFs, Currencies and Commodities
Dataset: FX Minutes/Hours/Days
Pivot Support and Resistance Finder [JV] V1Hi Traders.
This is my first attempt of writing an indicator.
Let me start by saying I could never have done this without lmatl and WMX_Q_System_Trading who were and are an incredible source of inspiration.
This indicator shows horizontal Pivot Support and Resistance . It draws up to 4 horizontal lines extending to the right from and adds labels to High and Low Pivot Candles . It also draws the Support / Resistance that is currently forming.
You can select the number of lines on the current timeframe.
There are some options in Settings:
Current timeframe pivot settings
Show and hide levels of the current timeframe
Change colors
Extend Lines
Any suggestions are more than welcome!
I also welcome donations, no matter how small ;-)
Attrition Scalper v1.0A weird indicator to catch tops/bottoms and scalp with the signals. You should buy/sell with the signals but you should also analyze the chart manually before jumping straight into the trade. One of the most important thing is the middle VIDYA line. It is a very strong support/resistance and if you've taken a long/short from top/bottom, you might want to target there to exit as the indicator will not give you a sell signal there probably.
You should also after trying the indicator for a bit. Make a proper SL/TP strategy for it.
By default the indicator will only load with charts up to 30 minute frame. If you want to load on higher timeframe charts you have to increase the Timeframe to Lookback and the Timeframe options in it's settings.
I really recommend lower timeframes though, the default settings with 5 minute chart is most likely the best.
Each of the lines you see are pretty strong support/resistance and pivot points . So if you've taken an entry for a quick scalp you should most likely start partially closing the position on each line.
I wouldn't really recommend a tight stop as we're most likely entering at or near the bottom and the price really can't stay that overextended unless it's a major/flash dump, at that point no indicator is safe anyways. So finding the sweet spot is up to you.
If more lines are on top of each other, be careful of that spot too as it's a great confluence of support/resistance . For example if the top VIDYA line is near the upper purple 4.236 line. That is a major resistance and if price is above it, it will almost certainly test it back or fall back inside the channel.
Another strategy is to not use the buy/sell signals but use the channel/lines yourself on higher timeframe for swing trading or just putting orders at the other extreme ends/lines in the channel to catch a nice entry in flash/major dumps/pumps.
Price will most likely retrace to the middle VIDYA line after touching or overextending from the top VIDYA and upper purple 4.236 line. Same also applies for the opposite side too. Any close above/below the VIDYA might mean continuation but that's better seen and confirmed on much higher timeframes, not 5 minutes probably.
Special thanks to: www.tradingview.com i got inspired from some of his indicators and even used some snippets of code which he allowed me to do.
In the near future i'm thinking of implementing new logic with Weis Waves and few other indicators to increase the signal count as i think it's currently very low. But overtrading might be bad anyways.
