Aspen Trading S/R LevelsIn Trading, Objectivity Trumps Subjectivity
“Every trader is a steaming hot bowl of bias stew and must maintain self-awareness and lucidity behind the screens as the trading day oscillates between boredom and terror.”
The above quote is from a good friend of mine and veteran FX trader Brent Donnelly. It completely nails the biggest challenge for new and even experienced traders: being as objective as possible when making trading decisions.
Yes, as you become more experienced, subjectivity, market feel and experience are part of one’s decision-making matrix, but early on you do not have that luxury.
If you start each day knowing that price action in the market is random it will remind you to think objectively. There are, however, repeatable patterns that occur again and again…..it’s your job to identify them.
That’s where Support & Resistance levels come in.
Definitions: “Support” and “Resistance” Levels
Many technical indicators and tools can be subjective and challenging to learn. This is not the case with support and resistance levels.
Support and resistance are terms for two price levels on a chart that appear to limit the security’s range of movement.
The “support level” is where the price regularly stops falling and bounces up.
The “resistance level” is where the price normally stops rising and dips back down.
The more frequently a price hits either level, the more reliable that level is likely to be in predicting future price movements.
Understanding Support and Resistance Levels
Remember, the more informed and objective we can be with numbers, the more confident we can be with our trades. That’s important because, although price action is random (a fact that has been proven time and time again), there are repeatable patterns we can use to get an edge.
Two of those objective data points we can use to gain an edge are support and resistance levels. These are two of the best tools we have when it comes to swing trading. Why? Because they give us strong data points that suggest where an instrument is likely (and unlikely) to go.
But this is really key: Arbitrarily cataloging each price level that appears to be relevant as a support or resistance level isn’t going to get you far. That’s why Aspen Trading takes a unique approach to support and resistance levels.
With Aspen’s Support & Resistance Levels, we measure where trades (prices) occur in terms of frequency. This gives us a sense of where market participants are wagering prices may go.
That’s about as raw and unfiltered as you can get in terms of displaying what has taken place. There’s no room for interpretation - this is raw data that can be used to get a sense of where prices may be heading.
Learning The “Four Sets” of Support and Resistance Levels
There are four sets of support and resistance levels that are part of Aspen Trading’s S/R framework.
Each set of support and resistance levels is unique to a specified period of time. We display each of them in different colors on our charts when we analyze trades to make it easy for us to understand the data as we get comfortable reading charts.
You’ll see each of these levels on display in the charts that follow below. The four sets of support and resistance levels are classified as follows:
There are four sets of support and resistance levels that are displayed by Aspen Trading’s S/R Analysis Tool. Each one is unique to a specified period of time that we then display directly on the chart. The levels are classified as follows
GREEN: displays 2 solid lines (upper/lower)
ORANGE: displays 2 lines (upper/lower)
RED: displays 2 lines (upper/lower)
PURPLE: displays 2 lines (upper/lower)
IMPORTANT:
These lines will change/adjust until the end of the specified observation period is complete.
Once the observation period is complete, that range will then be displayed on the chart as a set of dotted lines that is shaded in to serve as a reference point for traders to know the key levels from the prior lookback period. This can often be very helpful.
What’s the distinction between the 4 color levels?
Essentially think of these levels on a rising scale of importance. While GREEN levels are certainly key, they do not hold the same level of significance as the PURPLE levels.
在腳本中搜尋"swing trading"
FY Forex ScalperFy Forex Scalper Indicator:
A powerful indicator that you can use to scalp forex markets, it helps you identify the trend and direction of the market in both long term and short term time frames. The Arrows give you entry points. Read the detailed explanation below and if you have any questions feel free to message.
How does it work:
Fy Forex Scalper has two main aspects one is candles and the other is band both are color coded and works independently. As we all know, markets are not always trending and often move in a tight range. The Fy Forex Scalper indicator assists you in identifying trading opportunities by displaying trading zones and non-trading zones by painting the candles in three different colors: red, yellow, and green. When the candles are red, the script is in the selling zone, when the candles are green, the script is in the buying zone, and when the candles are yellow, the script is non trading zone. The band mainly works as support and resistance and gives you overall trend direction, If the band is red the trend direction is down and if band is in green the trend is up. So both candles and band give you the trend direction how to enter the trade explained below.
How to enter the trade:
Long Entry: Enter the trade when you get the up arrow near the band and make sure the band color is green. When you get the up arrow and band is red you can consider it as false signal.
Short Entry: Enter the trade when you get a down arrow near the band and make sure the band color is also red. When you get the down arrow and the band is in green color you can consider it as a false signal.
What markets it work:
Mainly use it for Forex, Crypto or scripts that move faster.
What time frame is best:
Use 5 mins when the market is moving (like Asian or London opening) use one min when the market isn’t moving.
Can we use it for Swing Trading:
Though it works , but the primary purpose of this indicator is for scalping so better use it on shorter time frames.
How to get access:
This is invite only script so to get access message me.
RedK Magic RibbonRedK Magic Ribbon is simple script that combines a fast and a slow moving averages to create a 2-Moving Average Cross-over / trend visualization tool.
We utilize the Compound Ratio Weighted Average (CoRa Wave) as the fast MA line and the RedK Slow Smooth Weighted Moving Average (RSS_WMA) aka LazyLine as the slow MA line.
i put this script together when i found that i started using these 2 moving average lines in my trading charts most of the time. thought others may find it useful.
The simple idea is that when the 2 lines "agree" on direction, then this is possibly a confirmed trend in that direction.
Visually, when the 2 lines agree on a trend direction, Magic Ribbon gives either a green (up) or red (down) fill, when they disagree, it gives a gray fill - Gray areas are considered "no trade" or "get ready" zones depending on the situation.
This ribbon can be used to support trend-following trades, swing trading, or as a visual trend tracking tool
Suggested Usage Tips:
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* Position entry should be made as close to the RSS_WMA/LazyLine as possible to maximize gain.
* The RSS_WMA can act as a guide for Stop Loss
* An aggressive (or swing) trader may consider entries as soon as the CoRa Wave line changes color, but in context of the prevailing trend.
* if you intend to use this tool for trading, please test it using the PaperTrading or Rewind features of TV to get used to how it behaves and adjust accordingly.
* The Magic Ribbon should work on any timeframe.
* The basic settings are available - they enable adjusting the length and smoothness of the CoRa Wave and the Smoothness of the RSS_WMA - as well as the source price for each. Style settings enable to adjust color, line width, or hide/show various elements as needed.
* The most important tip for using the Magic Ribbon: when you first add it to your chart, is to fine-tune the length settings to your preference. start by adjusting the LazyLine (RSS_WMA) Smoothness value, so it tracks and barely touches the highs / lows of price bars - with the least amount of lag possible - then adjust the CoRa Wave length to make it as responsive as you need. Keep smoothness to the lowest you can use (i like 3 or 4 max) - the default settings are generic usable values based on my testing.
* as usual, please use this tool only as a guide - make your own detailed chart analysis and support your trading decision with signals and confirmations from other indicators .
*** This script does not repaint.
CCT ScalperThis indicator composes of 4 scalping lines, which works great for scalping, short-term day trading and swing trading.
What it does.
This is a simple scalping strategy based on rejection. Buy and Sell scalp entries are given when the market rejects off the CCT Scalper indicator.
Consolidation signals are also present when there is no trend.
How it does it.
These Scalper lines have been adjusted to work best with the CCT Entry Bar indicator.
It calculates rejection and entries after our Entry Bar confirms the current trend.
How to use it.
It is extremely important to use the CCT Scalper indicator together with the CCT Entry Bar Indicator.
The CCT Scalper entry strategy is applied when buy and sell rejection signals are present.
Only Buy scalps when the CCT Entry Bar shows bullish momentum.
Only Sell scalps when the CCT Entry Bar shows bearish momentum.
To access this indicator use the link below.
RaBot V1.0.0Rabot is an indicator for new users as well as experienced users.
This indicator tries to predict both buy and sell signals. You can configure it for both scalping and swing trading.
It has two modes, one more "conservative", where the number of entries will be less than the other "greedy" mode.
Based on the famous and complex indicator "Koncorde" that combines both trend and volume knowing the manipulation of strong and weak hands, patterns, and crossing of emas customized by us; for example: a buy signal in conservative mode will only open if the trend is bullish and vice versa.
The user can configure the way they like by opening many positions or few but more secure based on their trading style.
The indicator also has the option to configure which chart we want to obtain the trend from, this is to avoid perhaps opening shorts in a very bullish trend line for example.
Rabot is a fairly complex indicator, which can be used for automatic use of inputs and outputs, as well as manual.
You also have the option of NOT opening a position if there is one currently open, and the option for the next signal to be the opposite of the last one.
5TPs, 1SL, and Breakeven after take profit achieved.
Finally version 1.0.0 is now available! :)
This version does not have backtesting (we have another that yes)
We are continuously working, testing and updating bugs and improvements.
Do not hesitate to get in touch for a feedback, it will be welcome and we will take it into account.
RaBot V1.0.0 - BacktestingRabot is an indicator for new users as well as experienced users.
This indicator tries to predict both buy and sell signals. You can configure it for both scalping and swing trading.
It has two modes, one more "conservative", where the number of entries will be less than the other "greedy" mode.
Based on the famous and complex indicator "Koncorde" that combines both trend and volume knowing the manipulation of strong and weak hands, patterns, and crossing of emas customized by us; for example: a buy signal in conservative mode will only open if the trend is bullish and vice versa.
The user can configure the way they like by opening many positions or few but more secure based on their trading style.
The indicator also has the option to configure which chart we want to obtain the trend from, this is to avoid perhaps opening shorts in a very bullish trend line for example.
Rabot is a fairly complex indicator, which can be used for automatic use of inputs and outputs, as well as manual.
You also have the option of NOT opening a position if there is one currently open, and the option for the next signal to be the opposite of the last one.
5TPs, 1SL, and Breakeven after take profit achieved.
Finally version 1.0.0 is now available! :)
This version contains backtesting with 5000 backbars to see if it is being profitable or not.
We are continuously working, testing and updating bugs and improvements.
Do not hesitate to get in touch for a feedback, it will be welcome and we will take it into account.
Angel Algo PremiumAngel Algo provides a set of tools, combined into one solution. Each tool complements each other and is made to uniquely support your trading decisions for your daily trading tasks. You can immerse yourself into our customizable tools to create your own strategies using them.
With Angel Algo you can:
* Find trend direction using three different algorithms designed for trend following, swing and intraday traders.
* Determine market sentiment, overall trends and volume with our full custom dashboard.
* Get real-time support and resistance levels plotted automatically
* Get trend confirmation using one of the two custom candle coloring algorithms
Trading signals
We have 3 different algorithms for entry signals you can choose from
Regular Buy And Sell Signals
Our regular Buy And Sell Signals are finding optimal times to enter for any security. This algorithm uses our original trend filter based on market volatility that adapts to different assets and market conditions.
We give traders the ability to adjust the sensitivity and aggression of these signals to market price changes, as well as the option to make them less sensitive to ranging markets so you can adjust to any market.
We added Auto Best Settings toggle to automatically optimize the settings for you if you'd like.
By adjusting the sensitivity and aggression parameters you can adopt the signal algorithm to different trading styles. For trend following which tries to capitalize on longer trends you should make the signals to be less frequent by adjusting this parameters. The settings that lead to more frequent signals suit to swing trading style.
Strong Signals Algorithm
The Strong Signals use an algorithm based on trend filtering coupled with confirmation signal based on higher time frame trend direction. It finds "Strong" buy or sells that are a tad different from the regular buy & sell signals you will see, a lot of the time they land on top of each other which can be used as an extra confirmation tool. Traders can also use this as a stand alone on higher timeframes.
Angel Intraday algorithm
We constantly try to push Pine script to its limits developing new features. Angel Intraday is our machine learning algorithm in beta that scans for intraday contrarian signals.
To find entry points it forecasts price range for a trading session using linear regression analysis and Kalman filtering.
If an asset is trading 24 hours a day it works with 12 hour sessions, for stocks it forecasts a price range for 7 hour trading sessions which represent the full trading day.
You can use this algorithm to get intraday trading signals for any asset. One of the advantages of this algorithm is that it gives identical signals for all intraday timeframes. The optimal time frames to view the signals and to enter positions are any.
What is the information in our Dashboard?
We offer real-time dashboard showing useful information to analyze market conditions:
- Angel Algo Trend Detection
- Directional Movement
- Angel Cloud for moving average detection
- Relative Volume
- Overall Market Sentiment
All of this information is aimed to help traders understand when the market regime is changing. The first three features help you to judge about trend strength. Relative volume shows current activity of market participants. Overall market sentiment reflects the actual bias for market direction.
Trend weakness, low market activity and neutral sentiment are the signs that can help you in early detecting of ranging market and avoid false trend signals or switch to contrarian mode.
The tools provided by Angel Algo are designed to help you perform rational actions based on the market data in a systematic way and to reduce emotional factor in your trading.
Using this script, please, keep in mind that that past performance does not necessarily represent future results and that there are trading.
The Manager The Manger is a simple and repeatable trade management indicator suite for all instruments and for all timeframes.
The strategy that makes up this trade management tool includes:
1. Average volume calculations with auto lookbacks - Each candle then is identified as being above or below average volume with Dots above or below each candle.
2. Volume Distribution or Accumulation candles - Identifies if the candle has higher or lower volume compared to previous candle
a. If Higher volume and is a Down candle it is a distribution candle and is coloured Red.
b. If Higher volume and is an Up candles it is an accumulation candle and is coloured Green.
3. Adjustable BIAS cloud with four settings for Day Trading and Swing Trading. Red is Bearish BIAS with Price action and Green is a Bullish BIAS with Price Action.
Some of the simple rules to follow when using "The Manager" to help manage your trades Long or Short. (More is covered in our tutorial video)
1. When Short Trading and you get a Green Accumulation Candle with a Cyan Dot Above candle (Higher than Average Volume) printed. This is a sign of a potential reversal against your short trade and an aggressive profit taking exit is necessary.
2. When Long Trading and you get a Red Distribution Candle with a Cyan Dot Above candle (Higher than Average Volume) printed. This is a sign of a potential reversal against your long trade and an aggressive profit taking exit is necessary.
3. Pullbacks against the direction of your trade with Blue Dots Below Candles (Lower than average volume) show low momentum pullbacks and a sign to stay in your trade or revert to BIAS Cloud rules.
4. BIAS Cloud - When Green Changes to Red, this is your conservative exit for Long Trades. - When Red changes to Green, this is your conservative exit for short trade.
5. BIAS Cloud - When day trading and your position has a parabolic move - change settings to day trading aggressive
6. BIAS Cloud - When Swing trading and your position has a parabolic move - change settings to day trading conservative or moderate depending on how much room you want to give for a pullback against the direction of your swing trade.
Remember when day trading or swing trading, there is usually a data or news catalyst that reverses the direction of an instrument and potentially a trade that you are in. "The Manager" soon spots those with either accumulation or distribution candles combining with higher than average volume. And usually with a distinct candle stick formation rejecting highs or lows. The ability for you to visually see this on your chart with our indicator gives you chance to maximise your profits by understanding the behaviour represented by the coloured candles and the dots above or below the candles. The BIAS cloud allows for a more conservative approach to this as discussed above
[ADOL_]HEART
ENG) Another, spin-off of ARVIS 4, the fourth version of ARVIS BOT. HEART
- Find the most suitable signal for swing trading and generate HEART ♥ notation. The heart signal is used as a swing branch point.
principle)
Features of the new core logic:
- The alert generation (error) of the HEART signal used in ARVIS 4 has been supplemented.
- Only the heart signal that was used in ARVIS 4 was extracted separately. It was created to be combined with the lightweight 4T version.
- We made the signal to be suitable for the concept of swing, excluding attempts to catch the highest and lowest points.
It is defined as marking a spot with a high probability of continuing the direction after the signal is generated with a heart.
option)
- The indicator plotting range indicates the range in which to display the indicator.
- You can set the background color to make the signal stand out.
- Added backtesting statistics. By correcting the part where the statistical label did not fully respond to the signal,
Statistical labels are displayed at the same location as Heart Long and Heart Short. You can view by checking the trade statistics label in the settings.
Backtesting is for reference only. The winning rate can be supplemented by using the trailing function and stop loss to increase the probability of real trading.
Example of principle of core function)
time frame)
- Available in all timeframes. Changing the timeframe does not change the display position.
The recommended timeframe is for the chart's timeframe to float by default. : 15 minutes, 1 hour.
alarm)
- You can set an alert for Heart Long and Heart Short.
trading method)
- Combine with ARVIS 4T.
- Follow the long downtrend and short uptrend as trend criteria.
reference)
You are solely responsible for any trading decisions you make.
How to use)
It is set to be available only to invited users. When invited, tap Add Indicator to Favorites at the bottom of the indicator.
If you click the indicator at the top of the chart screen and look at the left tab, there is a Favorites tab. Add an indicator by clicking the indicator name in the Favorites tab.
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KOR) ARVIS BOT의 네번째 버전 ARVIS 4의 또 다른, 스핀오프입니다. HEART
- 스윙매매에 가장 적합성을 지닌 신호를 찾고 HEART ♥ 표기를 발생시킵니다. 하트시그널은 스윙분기점으로 활용합니다.
원리)
새로운 핵심적인 로직의 기능 :
- 기존에 ARVIS 4에서 사용하던 HEART 시그널의 얼러트 발생(오류)을 보완 하였습니다.
- ARVIS 4에서 핵심적으로 사용하던 하트 시그널만 따로 추출하였습니다. 경량화된 4T 버전과 결합하기 위해 만들어졌습니다.
- 최고점과 최저점을 잡기 위한 시도를 배제하고, 스윙의 개념에 적합성을 가지도록 신호를 만들었습니다.
신호발생후 방향이 지속될 수 있는 가능성이 높은 자리를 하트로 표기하는 것으로 정의합니다.
옵션)
- 지표 플로팅 범위는 지표를 표시할 범위를 나타냅니다.
- 배경색을 설정하여 시그널을 돋보이게 만들 수 있습니다.
- 백테스팅의 통계가 추가되었습니다. 통계 표시라벨이 시그널에 완전 대응하지 못했던 부분을 수정하여
하트롱과 하트숏의 위치와 동일하게 통계라벨이 표시됩니다. 설정에서 매매통계라벨을 체크하여 볼 수 있습니다.
백테스팅은 참고사항입니다. 실제 매매에 확률을 더 높이기 위해 트레일링 기능과 스탑로스를 활용하면 승률이 보완될 수 있습니다.
핵심기능의 원리 예시)
타임프레임)
- 모든 시간프레임에서 사용가능합니다. 시간프레임이 바뀌어도 표시하는 위치가 달라지지 않습니다.
추천의 타임프레임은 디폴트로 띄워둘 차트의 시간프레임에 대한 것입니다. : 15분, 1시간.
알람)
- 하트롱과 하트숏에 얼러트를 설정할 수 있습니다.
매매방법)
- ARVIS 4T와 결합하십시오.
- 내림롱과 오름숏을 추세 기준으로 따르십시오.
참고)
귀하가 내리는 모든 거래 결정은 전적으로 귀하의 책임입니다.
사용방법)
초대된 사용자만 사용할 수 있도록 설정이 되어있습니다. 초대를 받을 경우, 지표 하단의 즐겨찾기에 인디케이터 넣기를 누릅니다.
차트화면 상단에 지표를 눌러서 왼쪽탭에 보면 즐겨찾기 탭이 있습니다. 즐겨찾기 탭에서 지표이름을 눌러서 지표를 추가합니다.
SF MARS Swing SystemOverview
The MARS (moving average rating system) is a long-only trend following indicator that visualizes trend strength across short & medium time ranges and generates potential entry/exit points designed for swing trading & scalping
Features
Trend Wave
Trend Ribbon
Potential Entry & Exit Targets
How To Use
Utilizing the potential entry & exit points displayed is recommended, however due to an immediate interest in a shorter timeframe as well, we have included trend ribbons as well for not only a confirmation of shifts in trend direction, but to also assist in shorter-term scalping methods in addition to swing trading.
A clear red-to-green transition for both the ribbons and the waves indicate bullish trend, and vice versa (green-to-red transition is bearish)
While it was designed with the concept of swing trading, you can see below that this indicator can prove to remain accurate within shorter time constraints as well.
As you adjust the chart to a larger range, you’ll notice that the waves are doing most of the work, while the ribbons essentially act as a second confirmation for trend analysis
Legacy Scalper - Trend Trading SystemLegacy Scalper Trend Trading System
Welcome to the Legacy Scalper
This indicator is based on a trend trading strategy using multiple EMA's, with an added colored algo to help traders enter orders while simultaneously reducing noise in the markets by changing candlesticks to one solid color dependant upon direction of price.
This indicator capitalizes on short term momentum while ensuring that you are trading with the trend using the commonly known fact of EMA's being above or below price to ensure the trend.
The customization and plotting of different length EMA's allows for freedom to design your own system within the realm of the indicators, or use the recommended strategies below.
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The Legacy Scalper plots 3 main EMA's listed as following:
-50 EMA
-200 EMA
-800 EMA
Additionaly there is an algo coded into the mix that allows for:
- Tradingview alarms for buys and sells
- change of period (frequency) for buys and sells
- color selection of the moving average
- change all candlestick color dependant upon buy and sell alerts.
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The Strategies (Or Create Your Own)
Basic
Sell only when you get an alert above the 50 EMA (Only 50 EMA plotted on screen)
Buy only when you get an alert with the 50 EMA below price (Only 50 EMA plotted on screen)
Sell Example:
Intermediate
Sell only when 50EMA is below the 200EMA and you get a sell alert
Buy only when the 50 EMA is above the 200EMA and you get a buy Alert
Buy Example:
Advanced
Sell only when you get a sell alert with all EMA's above price
Buy only when you get a buy alert with all EMA's below price
Example:
Legacy Mode
Backtesting is highly recommended
Remove EMA's and plot a high period MA and take alerts both ways to capitalize on longer moves
And/Or
Add Ema's for swing trading with a higher plot MA
Example:
NOTES:
This is designed to work on all time frames
This is designed to work on all financial instruments
Feel free to backtest which period setting is best, however visually glancing at most charts the default setting appears the best across all instruments.
Feel free to add in other indicators for additional confirmation such as an RSI, TDI, Stoch, or WAE
DISCLAIMER
THIS IS NOT FINANCIAL OR INVESTMENT ADVICE AND SHOULD NOT BE INTERPRETED AS SUCH.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Fibonacci Pivot ZonesFibonacci Pivot Zones make use of the average price between the high, low & close of the previous session, while adding deviations based on Fibonacci numbers to form support and resistance zones, which can be used as targets for intraday and swing trading.
You can select the timeframe for the zones, for example 12 hour pivots to trade in 15m timeframe, or even monthly pivots to trade on the daily timeframe.
You can choose the different fibonacci levels on the menu, by default these are:
0.382
0.618
0.782
1
Enjoy!
CPR, Camarilla & Moving AverageThis script is created primarily for Intraday trading but can also be used for short and long term trading. This is a combination of Central Pivot Range (CPR), Moving Averages and Camarilla Pivot levels (with inner levels). This helps you to combine the strategies of CPR and Moving Averages to identify the best trading opportunities with greater edge. Central Pivot Range and Camarilla pivots are taken from PivotBoss by Franc Ochoa.
Key features:
# Daily CPR levels
# Weekly CPR levels
# Monthly CPR levels
# Previous Day High and Lows
# Previous Week Highs and Lows
# Previous Month Highs and Lows
# Camarilla Pivots with inner Levels
# CPR Levels for the next Day, Week and Month
# 5 Simple moving averages and 5 Exponential Moving Averages
What separates this script from other scripts with CPR and Moving averages?
# One of the few indicators (if not the only one) which combines the 2 types of Moving Averages, CPR and also Camarilla Pivots.
# CPR Levels for not just the next Day, but for next Week(Weekly CPR) and Month(Monthly CPR) also.
# Hide the previous day's levels according to your wish. This is the most unique feature of this indicator. You can set the number of Daily CPR levels you want to load in the chart. This is not just for the Daily CPR but also for the Weekly and Monthly CPR also. This makes the chart less cluttered and prevents the candles from getting buried in the indicators. Please notice how the previous day's CPR levels are hidden in the displayed demo chart on the script page. In the chart, only one trading day's data is shown(by default).
# This script is OPEN SOURCE.
Strategies :
For CPR & Camarilla Strategies for intraday trading and swing trading refer to the book 'Secrets of a Pivot Boss: Revealing Proven Methods for Profiting in the Market' by Franklin O. Ochoa.
Moving averages strategies :
Moving averages can be combined and also used individually for several strategies
* 9 EMA can be used as trailing stop loss for strong moving trends that helps you to catch big moves.
* 20sma can be used not just trailing stop loss but also for taking re-entry to the trend.
* Golden cross - The golden cross occurs when a short-term moving average crosses over a major long-term moving average to the upside. This indicates a bullish turn in the market. Eg: 50 SMA cuts 200 SMA from below.
* Death Cross - The death cross occurs when the short term moving average crosses the long-term average from above. This indicates a bearish turn in the market. Eg: 50 SMA cuts 200 SMA from above.
* When 20 SMA is above 50 SMA and 20 SMA and 50 SMA are angling up like parallel lines, then it denotes bullish strength. If this happens right after Golden Cross, big moves to the upside can be expected.
* When 20 SMA is below 50 SMA and 20 SMA and 50 SMA are angling down like parallel lines, then it denotes bearish strength. If this happens right after Death Cross, big moves to the downside can be expected.
* When 20SMA and 50 SMA are going flat and crossing each other, then it denotes sideways sentiment.
Moving average strategies are taken from the book 'How to Make Money in Intraday Trading' by Ashwani Gujral. For learning more about how to combine CPR and Moving averages in your trading please refer to this book.
BAM's Weighted ROCTraders,
BAM's Weighted ROC is a Momentum indicator. ROC stands for 'Rate of Change' therefor this indicator plots the reading of a weighted average Rate of Change. In its current form it uses 4 periods en 4 weightings. The periods are set to 21/63/126/252 which corresponds to the number of trading days in each 1/3/6/12 months. The weightings are set to emphasize the more recent periods where the 1-month period counts for 40% of the signal, the 3-monthh period for 30%, the 6-month for 20% and the 12-month for 10%. These settings, both periods and weightings, are customizable. The current settings are meant to serve the widely used 1-day time interval chart setting. Feel free to alter the time frame and adjust the parameters accordingly; eg I like trading the weekly chart on a 10/20/30/40 period settings.
BAM's Weighted ROC can be used as a trendfilter for Trend Following trading systems or as an entry signal for Swing trading systems, or both. In the current setting the indicator is set to trend-following; it turns green when positive (above 0), indicating positive momentum. And red when negative (below 0), indicating negative momentum. In the most basic form one can trade a well diversified portfolio of assets using the indicator as guidance for entry and exit signals as it flows back and forth between positive and negative. Another use for the indicator lies in Swing Trading systems. In this approach the transfer from declining momentum into ascending momentum can be interpreted as a shift in momentum from negative to positive, and therefor constitute an entry opportunity. A combination of the 2 signals is of perfectly viable too, wait for positive momentum (reading above 0) in combination with a upward shift from one bar to the other. Use the reverse logic as an exit signal. In these examples the indicator is used in a stand-alone fashion. But off course it can also be used in conjunction with other indicators.
I personally use the two functions, trend-following en swingtrading, in tandem (combined)
for further reading into the rational behind Trend Following trading systems I recommend the following sources:
- Free Read: Google for 'Meb Faber, Global Asset Allocation' he gives out free copies on his website. Meb is a well known character in the Momentum-factor arena.
- Easy read: 'Following the trend' By Andreas Clenow. I don't think there is any Trend Following trader that doesn't know this chaps work.
- sophisticated Read: Trend Following with Managed Futures by A. Greyserman and K. Kaminski. This one is for those who seriously mean business!
Good luck out there, pls consider that the momentum factor holds an edge, at least based on historical performance, but this out-performance (most often) lies in the low single digits.
Pls be aware that use of this indicator is at your own risk. All info provided is solely presented for educational purposes.
Kind regards,
Bam
Angle of Bollinger Bands AlertThis script is used to calculate angle of Bollinger Bands and also setup alerts.
The angle is based on the rules:
- if the previous 2 is 1.1, previous 1 is 1, and the current is 1.1, then the angle should be 90 degrees.
- if the previous 2 is 0.9, previous 1 is 1, and the current is 0.9, then the angle should be 270 degrees
If upper angle is below 90 degrees and close is above the average, it is long signal.
If lower angle is above 270 degrees and close is below the average, it is short signal.
- It is good for catch trend trading.
- Not good for swing trading as the BB changes are very tiny but angles for upper may hit below 90 degrees or angle of lower may be above 270 degrees.
Fat Side PathI got the idea for a narrow Donchian Channel with a short lookback period which closely follows the price fluctuation in which the sides of the channel have a thickness according to the range of the last touching candle.
Any channel, be it Donchian, Keltner, Bollinger Bands or Parallel, has an upside and a downside, touching the upside is a buy signal as this may initiate an uptrend, the downside a sell signal because a down trend may come.
This gave me the idea to make only the last touched side fat, thus creating visible switching between uptrend and downtrend. However this is ‘too digital’, as in practice also periods of no trend occur in which signaling a trend would give a false signal. In a Donchian channel (and also Bollinger Bands) such periods are marked by narrowing the channel. So I gave a no trend signal to the sides when the channel is narrower than a minimum width to call a trend. I gave the thing nice colours and proper default settings.
Use of the channel in trading.
I think this thing can be useful for swing trading. In channels two typical things may happen that should be noted by the trader, these are LB, Leaving the Border, which signals a trend reversal and FTT, Failure To Traverse, i.e. the price doesn’t manage to cross the channel to the other side. This affirms the trend. FTT’s are not expected in short lookback channels like this path (Sidenote: Fibonacci levels can be regarded as predictions where FTT’s may occur). The fat side indicates direction. Because somehow trends seem to end with a notable range extension, this channel sometimes produces a “Big Blob” where the trend reverses.
I intend to use this thing together with my Keltner Fibzones channel, where the zones serve as a ‘landscape’ in which the Fat Side Path meanders providing ‘comments’ on the short term price movements.
CCI Breakout TraderWorks well on Bitcoin or most altcoins on a 15min chart or higher.
What is this exactly?
This is an indicator that uses horizontal RSI + EMA lines with a CCI line on top of it to provide optimal entry and exit positions for trading. There is also a breakout indicator based on the width of Bollinger Bands.
How to use:
If the blue stream passes upwards on the red heading to the white - it's heading towards a good BUY signal. To be safe you wait until it passes above the white line, then BUY LONG. Another signal to buy long is when the blue stream passes above the white and green lines.
Selling is essentially the opposite, if the blue stream is passing down from the green or white lines, then it's time to sell and exit your trade.
If you need help knowing when to enter and exit a trade the indicator will draw a grey candle on your chart to signal it's time to exit a long trade and it will draw a purple candle when it's time to enter a long.
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Breakout alert:
If you see a green vertical bar it's a warning that there is a potential breakout in price coming for whichever coin you are looking at. The price breakout could go either direction, so make sure you watch the blue stream.
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Important tips:
The direction of the green/white/red lines are important - if they are heading down that means it might not be the best time to enter your trade, even if the blue stream crosses up on the red and/or white lines.
The colored horizontal lines are there to let you know if the blue stream is near the bottom of those lines (anywhere from hline 15 to 50) and heading upwards, you will more likely have a longer positive trade. If the blue stream is above 60 hline and it looks like a good trade (passing up on the red and white lines), expect to have a shorter trade.
I use this for swing trading various crypto currencies, once you learn how to read it, you can catch amazing uptrends really early and you can exit trades before some big drops happen.
Extreme Money [Crypto Trading FR]Extreme Money aims to smooth out market fluctuations and predict trend changes.
The algorithm shows the turning points in the market and uses multiple filters to present the best potential turning points. Although this is its core functionality, Extreme Money also incorporates a series of popular other indicators (see below) allowing full identification of trends on the chart.
The tool aims to calculate market strength and then show potential turning points in the market signalled with small circles. Once the trend confirmation has changed, the algorithm signals a circle, giving the trader the potentially desired entry with an audible or pop-up alert if needed. The more circles there are when setting up the entry, the greater the chances of a trend reversal.
This algorithm can be used on all time intervals, as well 5, 15 or 30 minutes but it is particularly recommended on the 1H, 2h and 4H intervals for maximum efficiency. The indicator works as well for swing-trading as for intra-day trading: whatever the time interval selected, it filters potential entries with great precision.
The algorithm can also be used with any cryptocurrency or currency pairs from traditional markets, the parameters of the algorithm can be customized and adapted without difficulty.
Extreme Money also includes 8 indicators assembled in a single script, which can be activated or deactivated manually:
1) Algo (main indicator)
2) EMA
3) Hull
4) Trend
5) Pivots
6) Trend line
7) VWAP Line
8) RSI Swing
Benefits :
- Notifies the trader of potential entries
- Color coded entries for buying and selling
- Creates cluster signals at potential turn points
- Aims to avoid market noise
- Used on all types of timefames
- Analyze the current market trend
- Assists in Predicting Market Turn Points
- Cryptocurrency, FX, stock indices and gold trades
- Maximize profits
- Analyzed market strength and weakness
Impact Zones - Skylyne InvestingWhat is the Impact Zone system:
The creation of Impact Zones started with our love for trading the Bond Market. Impact Zones were originally specifically tailored for the Bond market and now have been mastered to capture most of the Asset Classes out in the market today (Please look at Impact Zone Settings section for asset classes covered by this script). The Impact Zone system is a zone break (or market level break) following system with specific take profit points already established for you on the open of the market day (depending on your asset timing will vary).
*This script was designed for Intraday Trading, Long term or Swing Trading is not recommended with this system
The script will create buy and sell signals on the break of the Impact Zones when specific criteria is met along with the break of the zone. You do not have to use only our signals provided, you can also create your own trading rules based on our script.
Items to highlight:
Skylyne Upper Zone: Green Zone
Skylyne Middle: Yellow Line
Skylyne Lower Zone: Red Zone
Skylyne Take Profit Lines: Purple Lines
Skylyne Average: Orange Line (dynamic support/resistance)
Skylyne Overnight Session: Dark Blue (No Trade Zones)
Skylyne Signals: Buy / Sell
You can think of the Upper Zone as a bull zone and Lower zone as a bear zone, when price enters these zones we want to start watching price action to determine direction the market will take on the break or specified zone, whether it be a break and reversal or a break and run. This can be confirmed with either our signals (buy & sell) or the use of the dynamic support and resistance line (Skylyne Average).
Our script is written to capture market zones and place then on your screen with ease, we also have programmed in specific take profits and stop loss levels we have found the market respects on the intraday trading based on the Impact Zone captured.
The Impact Zones and Take Profit Levels change at Market open everyday. The levels provided will stay on your chart until the next Market open where the Impact Zones and Levels will change to accommodate that trading Day.
We recommend only using that trading days levels, however; using past levels can help trades depending on the case
The three Trades we want to highlight are:
1. Break of Impact Zones
a. This trade is taken when a break of the impact zone happens either in the positive or negative direction and traded to the next zone or take profit line (stop losses can be set with zones or the dynamic skylyne average crossovers)
2. Break of Skylyne Average
a. This trade is taken when price action confirms a bullish or bearish bias on the break of the average line (we would close this trade on the reverse break of the Skylyne Average using the zones as targets)
3. Break of the Skylyne Mid:
a. This trade is taken when a break of the Skylyne Mid level occurs and we use the upper and lower bounds of the Impact Zones as take profit and stop losses
Impact Zone Settings:
*Trading Category and Overnight Category must match the Asset Class being viewed on chart for accurate signals
1. Trading Category
a. Bonds
b. Corn/Wheat
c. Stocks
d. Index Futures
e. Euro/Dollar
f. Gold/Silver
2. Overnight Category
a. Bonds
b. Corn/Wheat
c. Stocks
d. Index Futures
e. Euro/Dollar
f. Gold/Silver
3. Chart Aggregation Limit (Default Value is 25 minutes)
Impact Zone Overnight Trading:
Impact Zone Overnight sessions are highlighted in a dark blue color and we use these highlighted time sessions as a NO TRADE session. Our system was built to be traded during normal market trading hours and overnight sessions tend to be less predictive in terms of direction and or zone reliance. If you choose to trade overnight sessions with Impact Zones, make sure you make a very in depth trading plan and stick to the rules set for yourself.
Impact Zone Signals:
1. Signals for buy or sell of the asset class happen on breaks of the Impact Zones, and when specific criteria are met that we determined necessary to evaluate the overall trend of the market
2. Not every break of the Impact Zones will trigger a signal
3. No signal will be generated during overnight sessions, we recommend studying overnight sessions before beginning to create your own overnight trading session plans based on Impact Zones
4. When a signal is generated you will use the next take profit line (purple line) in the direction of your trade you are in. Other trading signals were discussed above
5. If while you are in a trade and the skylyne average (orange line) is broke in the opposite direction of your trade you will take this as a dynamic stop, and in some cases a dynamic take profit
Impact Zone Charting Timeframes:
1. Recommendation of using the 1 minute chart aggregation bars to maximize profits and limit losses
2. The script has a default charting aggregation limit of 25 minutes, adjustments to the input (in the settings) to increase the aggregation limit need to be made in order to use higher than 25 minute timeframes
Charting Example:
First note is to notice how our publish example uses the 1-minute timeframe aggregation, this is because our script was written to maximize profit on the 1 minute time frame. The script can be used on any time frame, however; make sure that you increase the aggregation limit input when using timeframes above 25 minutes.
From the chart included in the script post, you can notice that buy and sell signals happen only when specified criteria is met, and not every time there is a crossover of the Impact Zones there is a signal. You do not only have to trade the buy and sell signals that our system provides, however; our team believes that these signals are one of the best ways to trade the Impact Zone script. If you deviate from only using signals provided and choose to use the Impact Zones differently, we recommend using the next level, or zone, in the direction of your trade as your take profit (As described in trade we want to highlight section)
Ripster EMA CloudsEMA Cloud By Ripster
EMA Cloud System is a Trading System Invented by Ripster where areas are shaded between two desired EMAs. The concept implies the EMA cloud area serves as support or resistance for Intraday & Swing Trading. This can be utilized effectively on 10 Min for day trading and 1Hr/Daily for Swings. Ripster himself utilizes various combinations of the 5-12, 34-50, 8-9, 20-21 EMA clouds but the possibilities are endless to find what works best for you.
“Ideally, 5-12 or 5-13 EMA cloud acts as a fluid trendline for day trades. 8-9 EMA Clouds can be used as pullback Levels –(optional). Additionally, a high level price over or under 34-50 EMA clouds confirms either bullish or bearish bias on the price action for any timeframe” – Ripster
Medium Term Weighted Stochastic (STPMT) by DGTLa Stochastique Pondérée Moyen Terme (STPMT) , or Mᴇᴅɪᴜᴍ Tᴇʀᴍ Wᴇɪɢʜᴛᴇᴅ Sᴛᴏᴄʜᴀꜱᴛɪᴄꜱ created by Eric Lefort in 1999, a French trader and author of trading books
█ The STPMT indicator is a tool which concerns itself with both the direction and the timing of the market. The STPMT indicator helps the trader with:
The general trend by observing the level around which the indicator oscillates
The changes of direction in the market
The timing to open or close a position by observing the oscillations and by observing the relative position of the STPMT versus its moving average
STPMT Calculation
stpmt = (4,1 * stoch(5, 3) + 2,5 * stoch(14, 3) + stoch(45, 14) + 4 * stoch(75, 20)) / 11.6
Where the first argument of the stoch function representation above is period (length) of K and second argument smoothing period of K. The result series is then plotted as red line and its moving average as blue line. By default disabled gray lines are the components of the STPMT
The oscillations of the STPMT around its moving average define the timing to open a position as crossing of STMP line and moving average line in case when both trends have same direction. The moving average determines the direction.
Long examples
█ Tʜᴇ CYCLE Iɴᴅɪᴄᴀᴛᴏʀ is derived from the STPMT. It is
cycle = stpmt – stpmt moving average
It is indicates more clearly all buy and sell opportunities. On the other hand it does not give any information on market direction. The Cycle indicator is a great help in timing as it allows the trader to more easily see the median length of an oscillation around the average point. In this way the traders can simply use the time axis to identify both a favorable price and a favorable moment. The Cycle Indicator is presented as histogram
The Lefort indicators are not a trading strategy. They are tools for different purposes which can be combined and which can serve for trading all instruments (stocks, market indices, forex, commodities…) in a variety of time frames. Hence they can be used for both day trading and swing trading.
👉 For whom that would like simple version of the Cycle indicator on top of the main price chart with signals as presented below.
Please note that in the following code STMP moving average direction is not considered and will plot signals regardless of the direction of STMP moving average. It is not a non-repainting version too.
here is pine code for the overlay version
// © dgtrd
//@version=4
study("Medium Term Weighted Stochastic (STPMT) by DGT", "STPMT ʙʏ DGT ☼☾", true, format.price, 2, resolution="")
i_maLen = input(9 , "Stoch MA Length", minval=1)
i_periodK1 = input(5 , "K1" , minval=1)
i_smoothK1 = input(3 , "Smooth K1", minval=1)
i_weightK1 = input(4.1 , "Weight K1", minval=1, step=.1)
i_periodK2 = input(14 , "K2" , minval=1)
i_smoothK2 = input(3 , "Smooth K2", minval=1)
i_weightK2 = input(2.5 , "Weight K2", minval=1, step=.1)
i_periodK3 = input(45 , "K3" , minval=1)
i_smoothK3 = input(14 , "Smooth K3", minval=1)
i_weightK3 = input(1. , "Weight K3", minval=1, step=.1)
i_periodK4 = input(75 , "K4" , minval=1)
i_smoothK4 = input(20 , "Smooth K4", minval=1)
i_weightK4 = input(4. , "Weight K4", minval=1, step=.1)
i_data = input(false, "Components of the STPMT")
//------------------------------------------------------------------------------
// stochastic function
f_stoch(_periodK, _smoothK) => sma(stoch(close, high, low, _periodK), _smoothK)
//------------------------------------------------------------------------------
// calculations
// La Stochastique Pondérée Moyen Terme (STPMT) or Medium Term Weighted Stochastics calculation
stpmt = (i_weightK1 * f_stoch(i_periodK1, i_smoothK1) + i_weightK2 * f_stoch(i_periodK2, i_smoothK2) + i_weightK3 * f_stoch(i_periodK3, i_smoothK3) + i_weightK4 * f_stoch(i_periodK4, i_smoothK4)) / (i_weightK1 + i_weightK2 + i_weightK3 + i_weightK4)
stpmt_ma = sma(stpmt, i_maLen) // STPMT Moving Average
cycle = stpmt - stpmt_ma // Cycle Indicator
//------------------------------------------------------------------------------
// plotting
plotarrow(change(sign(cycle)), "STPMT Signals", color.green, color.red, 0, maxheight=41)
alertcondition(cross(cycle, 0), title="Trading Opportunity", message="STPMT Cycle : Probable Trade Opportunity\n{{exchange}}:{{ticker}}->\nPrice = {{close}},\nTime = {{time}}")
SRSI/CCI :: ALLinPower v10.0
Everything you see in this indicator has beed designed with purpose to ease your trading with visual technical analysis of the market. It pulls data from 7 different TimeFrames and it can not be more simpler visual representation of its calculations when applied on chart.
When applied on chart, you will see two sets of WAVES. First set is made out of SRSI calculation and the second is made out of CCI calculation. Both of them follows the same rules.
Background GREEN/RED wave is made out of Multiple Timeframes and it represents a TREND. GREEN for LONG, RED for SHORT trend.
Over the background wave there is a wave made of current TimeFrame data and its main purpose is to see when the POWER of certain direction will diminish. The less time little wave stays in current trend the more likely is that it will change the trend based on lack of power the market is getting in certain direction.
HOW TO USE IT?
Rule 1.
TIMEFRAMES
Choose the best TimeFrame for the job. I use: 1min, 2min, 3min, 5min, 8min, 13min, 21min, 34min or 56min (golden ratio). You can also pick a different TF but only to up to 1h TF chart as it does not work well with TF over 1h. Smaller TF is used for SCALPING of DAY TRADING higher TF is used for SWING TRADING. You get the picture?
Rule 2
TO ENTER BUY/LONG POSITION: When big trend wave is below the middle line and coloured in RED and little wave just entered the area and exits it very soon after. Basically when RED straight line gets smaller and smaller (the POWER of SHORT diminishes) it is a sign for LONG.
TO ENTER SELL/SHORT POSITION: When big trend wave is over the middle line and coloured in GREEN and little wave just entered the area and exits it very soon after. Basically when GREEN straight line gets smaller and smaller (the POWER of LONG diminishes) it is a sign for SHORT.
To ease yourself the spotting of this instances just follow the GREEN/RED dots and use ALERTS (choose BUY POWER for LONG signals or choose SELL POWER for SHORT signals) to make yourself free from staring at a computer/mobile all the time and just wait for a signal.
Rule 3
CAUTION
Do not rush to enter a position and try to predict what indicator will do next. It does not end well.
Be aware you are not exiting a position in panic that would be too soon or even worse, you get married to bad trade and you are not exiting even though you should exit by many signals you get.
Use risk management strategy to protect your capital.
Follow the rules and make your trading easier and better.
RSI :: ALLinDivergence v10.0
Everything you see in this indicator has been designed with a single purpose, to ease your trading with simplify visual technical analysis of the market. It pulls data from 7 different TimeFrames and it can not be more simpler visual representation of its calculations when applied on chart.
When applied on chart, you will see GREEN/RED alternating MTF RSI line and its 70 overbought area and its 30 oversold area. There is a gentle purple colour line in the background which represents RSI line of the current TF (it is not crucial but it helps to know why MTF line turns RED or turns GREEN (crossing of those two).
HOW TO USE IT?
Rule 1.
TIMEFRAMES
Choose the best TimeFrame for the job. I use: 1min, 2min, 3min, 5min, 8min, 13min, 21min, 34min or 56min (golden ratio). You can also pick a different TF but only to up to 1h TF chart as it does not work well with TF over 1h. Smaller TF is used for SCALPING of DAY TRADING higher TF is used for SWING TRADING. You get the picture?
Rule 2
TO ENTER BUY/LONG POSITION: search for HigherLows on RSI MTF GREEN/RED LINE when it is coloured RED. To enter a position it should be confirmed with AALERT :: ALLinDivergence v 10.0 that "GREEN" Divergence is emerging.
TO ENTER SELL/SHORT POSITION: search for LowerHighs on RSI MTF GREEN/RED LINE when it is coloured GREEN. To enter a position it should be confirmed with ALERT :: ALLinDivergence v 10.0 that "RED" Divergence is emerging.
Rule 3
EXIT FROM BUY/LONG POSITION: search for HigherLows on RSI MTF GREEN/RED LINE.
EXIT FROM SELL/SHORT POSITION: search for LowerHighs on RSI MTF GREEN/RED LINE.
Rule 4
CAUTION
Do not rush to enter a position and try to predict what indicator will do next. It does not end well.
Be aware you are not exiting a position in panic that would be too soon or even worse, you get married to bad trade and you are not exiting even though you should exit by many signals you get.
Use risk management strategy to protect your capital.
Follow the rules and make your trading easier and better.
