Price Action Fractal Forecasts [AlgoAlpha]🔮 Price Action Fractal Forecasts - Unleash the Power of Historical Patterns! 🌌✨
Dive into the future with AlgoAlpha's Price Action Fractal Forecasts ! This innovative indicator utilizes the mesmerizing complexity of fractals to predict future price movements, offering traders a unique edge in the market. By analyzing historical price action and identifying repeating patterns, this tool forecasts future price trends, providing visually engaging and actionable insights.
Key Features:
🔄 Flexible Data Series Selection: Choose your preferred data series for precise analysis.
🕰 Flexible Training and Reference Data Windows: Customize the length of training data and reference periods to match your trading style.
📈 Custom Forecast Length: Adjust the forecast horizon to suit your strategic objectives.
🌈 Customizable Visual Elements: Tailor the colors of forecast deviation cones, data reference areas, and more for optimal chart readability.
🔄 Anticipatory and Repetitive Forecast Modes: Select between anticipating future trends or identifying repetitive patterns for forecasts.
🔎 Enhanced Similarity Search: Leverages correlation metrics to find the most similar historical data segments.
📊 Forecast Deviation Cone: Visualize potential price range deviations with adjustable multipliers.
🚀 Quick Guide to Maximizing Your Trading with Price Action Fractal Forecasts:
🛠 Add the Indicator: Search for "Price Action Fractal Forecasts" in TradingView's Indicators & Strategies. Customize settings according to your trading strategy.
📊 Strategic Forecasting: Monitor the forecast deviation cone and forecast directional changes for insights into potential future price movements.
🔔 Alerts for Swift Action: Set up notifications based on forecast changes to stay ahead of market movements without constant monitoring.
Behind the Magic: How It Works
The core of the Price Action Fractal Forecasts lies in its ability to compare current market behavior with historical data to unearth similar patterns. It first establishes a training data window to analyze historical prices. Within this window, it then defines a reference length to identify the most recent price action that will serve as the basis for comparison. The indicator searches through the historical data within the training window to find segments that closely match the recent price action in the reference period.
Depending on whether you choose the anticipatory or repetitive forecast mode, the indicator either looks ahead to predict future prices based on past outcomes following similar patterns or focuses on the repeating patterns within the reference period itself for forecasts. The forecast's direction can be configured to reflect the mean average of forecasted prices or the end-point relative to the start-point of the forecast, offering flexibility in how forecasts are interpreted.
To enhance the comprehensiveness and visualization, the indicator features a forecast deviation cone. This cone represents the potential range of price movements, providing a visual cue for volatility and uncertainty in the forecasted prices. The intensity of this cone can be adjusted to suit individual preferences, offering a visual guide to the level of risk and uncertainty associated with the forecasted price path.
Embrace the fractal magic of markets with AlgoAlpha's Price Action Fractal Forecasts and transform your trading today! 🌟🚀
Techincalanalysis
MVRV Z-Score [AlgoAlpha]Introducing the ∑ MVRV Z-Score by AlgoAlpha, a dynamic and sophisticated tool designed for traders seeking to gain an edge in INDEX:BTCUSD analysis. This script employs advanced statistical techniques on Bitcoin On-Chain data to offer a deeper understanding of market conditions, focusing on valuation extremes and momentum trends. Let's explore the features and functionalities that make this tool a valuable addition to your trading arsenal.
Key Features:
🔶 Adjustable Parameters: Customize the Z score lookback length, moving average lookback length, and choose from six moving average types, tailoring the analysis to your trading style.
🔶 Heiken Ashi Compatibility: Incorporate Heiken Ashi plots to visualize market trends, adding a layer of clarity to your technical analysis.
🔶 Divergence Alerts: Detect significant bullish and bearish divergences, allowing for timely identification of potential market reversals.
🔶 Configurable Alerts: Set alerts for overbought, oversold, and divergence conditions, ensuring you never miss an opportunity.
How to Use:
1. ➡️ Parameter Selection: Start by configuring the Z-Score and moving average settings according to your analysis needs. This includes selecting the lookback period and the type of moving average.
2. ➡️ Visualization Options: Choose to enable Heiken Ashi plots for an alternative view of the Z-Score, which can help in identifying trend directions more clearly.
3. ➡️ Monitor for Signals: Keep an eye out for divergence signals and overbought/oversold conditions as potential indicators for entering or exiting trades.
4. ➡️ Alert Setup: Configure alerts based on your selected parameters to receive notifications for important market movements and conditions.
How It Works:
The core of this tool is the Z-Score calculation, which assesses the standard deviation of the current market value from its mean, highlighting overvalued or undervalued market conditions. Here's a brief overview of the script's operational mechanics:
1. 📊 Calculating the Z-Score: The script first calculates the mean over a user-defined lookback period of the MVRV ratio, then it computes the Z-Score to identify deviations from the average.
meanValue = ta.sma(marketValue, zScoreLookback)
zScoreValue = (marketValue - meanValue) / ta.stdev(marketValue, zScoreLookback)
2. 📈 Applying a Moving Average: To smooth the Z-Score data and make trends more discernible, a moving average is applied. Users can choose from several types, such as SMA, EMA, or HMA, based on their preference.
3. 🔄 Heiken Ashi Visualization: For those opting for a more intuitive trend analysis, Heiken Ashi plots can be enabled, transforming the Z-Score data into candlestick charts that simplify trend identification.
4. 🔍 Identifying Divergences: The script is equipped to spot divergences between the market price action and the Z-Score, signaling potential bullish or bearish market reversals.
oscHigherLow = haClose > ta.valuewhen(findPivotLow, haClose , 1) and isInRange(findPivotLow )
priceLowerLow = low < ta.valuewhen(findPivotLow, low , 1)
bullishCondition = enablePlotBullish and priceLowerLow and oscHigherLow and findPivotLow
5. 🚨 Configurable Alerts: Lastly, the script allows for the setting of customizable alerts based on the Z-Score, moving averages, and identified divergences, enabling traders to react promptly to market changes.
The ∑ MVRV Z-Score by AlgoAlpha is an essential tool for traders looking to analyze and interpret market dynamics through a quantitatively rigorous lens. Whether you're focused on identifying market extremes or tracking trend momentum, this script offers the insights needed to support informed trading decisions. 🌟📊💡
Monthly Data Analysis [ProjeAdam]OVERVIEW
This indicator was developed to quickly analyze the seasonal movements of financial investment instruments.
I would like to thank Zafer Brother for his ideas.
IMPORTANT NOTE:
In order to calculate monthly price changes properly, we need to examine the chart on a monthly time period.
USER GUIDE:
1 - Time Period Selection: Users can input the start and end years for their analysis. This feature enables users to focus on specific time frames that are of interest to them, such as analyzing market behavior during certain historical events or periods.
2 - Monthly Data Aggregation: The script seems to collect and process data on a monthly basis, enabling a detailed analysis of market trends within each month.
3 - Percentage Change Calculation: It calculates the percentage change in prices, which is a crucial metric in financial analysis for understanding market movements.
4 - Customization and Visualization: Users can customize background colors for each month, enhancing the visual appeal and readability of the data on charts.
ALGORITHM
1 - Time Range Settings:
The user can enter the start and end year of the analysis. These dates determine the time period in which data analysis will be performed.
2- Creating Monthly Data Series and Calculating Total Months:
A separate float array and percentage change array is created for each month.
3- Percentage Change Calculation:
Using the data in the series created for each year and each month, the months of the selected years are summed and divided by the total number of years.
4 - Visualization of Results:
Table helps us to quickly check our data in our monthly average percentage change for selected years.
5- Coloring the Graph According to Background Conditions:
The user who checks the results in the table can check the price changes in the months between the selected years from the graph by turning on the background of the desired month in the indicator settings.
In the example above, I selected the months of June, July and August.
By changing the background of the months of June, July and August between the years I have selected in the chart, I can easily examine the seasonal price movement in these months.
Example
I observe that the snowiest month among the years I choose in the airline company I work with is November, and I can easily make my analysis by turning on the background setting of November.
Benefits
Customized Analysis: By allowing users to select specific start and end years, the script provides tailored analysis, making it more relevant and useful for individual trading strategies or historical research.
Trend Identification: Monthly data aggregation and percentage change calculations can help in identifying short-term and long-term market trends, vital for making informed trading decisions.
Enhanced Visualization: Custom background colors for different months can make the chart more user-friendly, aiding in quicker interpretation and analysis of data.
User-Friendly Dashboard: The script includes a dashboard feature that provides a summary of data analysis, making it easier for users to get an overview of market trends.
If you have any ideas what to add to my work to add more sources or make calculations cooler, suggest in DM .
Liquidity Weighted Moving Averages [AlgoAlpha]Description:
The Liquidity Weighted Moving Averages by AlgoAlpha is a unique approach to identifying underlying trends in the market by looking at candle bars with the highest level of liquidity. This script offers a modified version of the classical MA crossover indicator that aims to be less noisy by using liquidity to determine the true fair value of price and where it should place more emphasis on when calculating the average.
Rationale:
It is common knowledge that liquidity makes it harder for market participants to move the price of assets, using this logic, we can determine the coincident liquidity of each bar by looking at the volume divided by the distance between the opening and closing price of that bar. If there is a higher volume but the opening and closing prices are near each other, this means that there was a high level of liquidity in that bar. We then use standard deviations to filter out high spikes of liquidity and record the closing prices on those bars. An average is then applied to these recorded prices only instead of taking the average of every single bar to avoid including outliers in the data processing.
Key features:
Customizable:
Fast Length - the period of the fast-moving average
Slow Length - the period of the slow-moving average
Outlier Threshold Length - the period of the outlier processing algorithm to detect spikes in liquidity
Significant Noise reduction from outliers:
Amazing Oscillator (AO) [Algoalpha]Description:
Introducing the Amazing Oscillator indicator by Algoalpha, a versatile tool designed to help traders identify potential trend shifts and market turning points. This indicator combines the power of the Awesome Oscillator (AO) and the Relative Strength Index (RSI) to create a new indicator that provides valuable insights into market momentum and potential trade opportunities.
Key Features:
Customizable Parameters: The indicator allows you to customize the period of the RSI calculations to fine-tune the indicator's responsiveness.
Visual Clarity: The indicator uses user-defined colors to visually represent upward and downward movements. You can select your preferred colors for both bullish and bearish signals, making it easy to spot potential trade setups.
AO and RSI Integration: The script combines the AO and RSI indicators to provide a comprehensive view of market conditions. The RSI is applied to the AO, which results in a standardized as well as a less noisy version of the Awesome Oscillator. This makes the indicator capable of pointing out overbought or oversold conditions as well as giving fewer false signals
Signal Plots: The indicator plots key levels on the chart, including the RSI threshold(Shifted down by 50) at 30 and -30. These levels are often used by traders to identify potential trend reversal points.
Signal Alerts: For added convenience, the indicator includes "x" markers to signal potential buy (green "x") and sell (red "x") opportunities based on RSI crossovers with the -30 and 30 levels. These alerts can help traders quickly identify potential entry and exit points.
Bollinger Bands Percentile + Stdev Channels (BBPct) [AlgoAlpha]Description:
The "Bollinger Bands Percentile (BBPct) + STD Channels" mean reversion indicator, developed by AlgoApha, is a technical analysis tool designed to analyze price positions using Bollinger Bands and Standard Deviation Channels (STDC). The combination of these two indicators reinforces a stronger reversal signal. BBPct calculates the percentile rank of the price's standard deviation relative to a specified lookback period. Standard deviation channels operate by utilizing a moving average as the central line, with upper and lower lines equidistant from the average based on the market's volatility, helping to identify potential price boundaries and deviations.
How it Works:
The BBPct indicator utilizes Bollinger Bands, which consist of a moving average (basis) and upper and lower bands based on a specified standard deviation multiplier. By default, it uses a 20-period moving average and a standard deviation multiplier of 2. The upper band is calculated by adding the basis to the standard deviation multiplied by the multiplier, while the lower band is calculated by subtracting the same value. The BBPct indicator calculates the position of the current price between the lower and upper Bollinger Bands as a percentile value. It determines this position by comparing the price's distance from the lower band to the overall range between the upper and lower bands. A value of 0 indicates that the price is at the lower band, while a value of 100 indicates that the price is at the upper band. The indicator also includes an optional Bollinger Band standard deviation percentage (%Stdev) histogram, representing the deviation of the current price from the moving average as a percentage of the price itself.
Standard deviation channels, also known as volatility channels, aid in identifying potential buying and selling opportunities while minimizing unfavorable trades. These channels are constructed by two lines that run parallel to a moving average. The separation between these lines is determined by the market's volatility, represented by standard deviation. By designating upper and lower channel lines, the channels demarcate the borders between typical and atypical price movements. Consequently, when the market's price falls below the lower channel line, it suggests undervaluation, whereas prices surpassing the upper channel line indicate overvaluation.
Signals
The chart displays potential reversal points through the use of red and green arrows. A red arrow indicates a potential bearish retracement, signaling a possible downward movement, while a green arrow represents a potential pullback to the positive, suggesting a potential upward movement. These signals are generated only when both the BBPct (Bollinger Bands Percentage) and the STDC (Standard Deviation Channel) indicators align with bullish or bearish conditions. Consequently, traders might consider opening long positions when the green arrow appears and short positions when the red arrow is plotted.
Usage:
This indicator can be utilized by traders and investors to effectively identify pullbacks, reversals, and mean regression, thereby enhancing their trading opportunities. Notably, extreme values of the BBPct, such as below -5 or above 105, indicate oversold or overbought conditions, respectively. Moreover, the presence of extreme STDC zones occurs when prices fall below the lower channel line or cross above the upper channel line. Traders can leverage this information as a mean reversion tool by identifying instances of peak overbought and oversold values. These distinctive characteristics facilitate the identification of potential entry and exit points, thus augmenting trading decisions and enhancing market analysis.
The indicator's parameters, such as the length of the moving average, the data source, and the standard deviation multiplier, can be customized to align with individual trading strategies and preferences.
Originality:
The BBPct + STDC indicator, developed by AlgoAlpha, is an original implementation that combines the calculation of Bollinger Bands, percentile ranking, the %Stdev histogram and the STDC. While it shares some similarities with the Bollinger Bands %B indicator, the BBPct indicator introduces additional elements and customization options tailored to AlgoAlpha's methodology. The script is released under the Mozilla Public License 2.0, granting users the freedom to utilize and modify it while adhering to the license terms.
Hull WavesThe Hull Waves indicator is based on the Hull Moving Averages (HMA), which are special moving averages that stand out for their ability to filter out market noise and offer a clearer view of price trends. Compared to traditional moving averages, HMAs are more responsive yet smoother, allowing traders to capture significant price movements without getting overwhelmed by short-term fluctuations.
The HMAs integrated into Hull Waves provide two distinct perspectives on the price trend:
8-period HMA: This short-term HMA is extremely reactive and closely follows price changes. It is ideal for capturing short-term trading signals while the medium-term 21-period HMA offers a more balanced view of price trends and identifies medium-term trends.
By crossing HMAs, traders can efficiently identify trend reversal points or strong market continuations.
Another feature of the indicator is the “fan” of dynamic lines, which acts as a visual float for price candles, allowing traders to quickly evaluate trading opportunities.
The "fan" or float of dynamic lines represents a visual representation of the candle's price movements. These lines extend from the start point to the end point, like an open fan. This visual approach makes the market dynamics immediately evident.
Strategy:
Long Entry Signal (Buy):
When the Hull Waves range shows a series of upward sloping lines and the Hull Moving Averages (e.g. 8-period HMA) crosses the 21-period HMA upwards, it is a long entry signal.
Confirmation of the signal can come from an increase in trader volume or other supporting indicators.
Place a buy order at the next closing price.
Short Entry Signal (Sell):
When the Hull Waves range shows a series of downward sloping lines and the Hull Moving Averages (e.g. 8-period HMA) crosses the 21-period HMA downward, it is a short entry signal.
Confirm the signal with an increase in trader volume or other relevant indicators.
Place a sell order at the next closing price.
Exit Signal (Closing a Position):
To close a long position, wait for a signal reversal, such as the Hull Moving Averages crossing downwards or a change in the Hull Waves range.
To close a short position, wait for a signal reversal, such as the Hull Moving Averages crossing higher or a change in the Hull Waves range.
Unusual Market Volume DetectorIntroduction
Price usually moves in lockstep with the volume trends i.e. price goes higher when there is buying and it goes down when there is selling in the market. But sometimes, the market behaves unusually i.e. Price and volume move in opposite directions. This indicator identifies precisely this divergent behavior in the market!
This script analyses the volume trends by utilizing changes in On Balance Volume (OBV) for the instrument and compares it with the price trend to color the lower panel on your chart window. The color changes as the direction of the OBV trend changes from Up to Down or vice versa. If there is a divergence between the price trend and volume trend, the color will switch to Purple.
Divergence in volume and price trends typically indicate a battle between supply and demand. This may coincide with a change in market direction as well. It is important to know which side won after this battle, as the market will follow that side.
This tool will alert traders of unusual market volume behavior and when both price & volume trends are in sync.
Features
A Purple color in the lower panel indicates that the Volume and Price trends are diverging and are moving in the opposite direction
A Green color in the lower panel indicates that the Volume is trending higher supporting bullish price action
A Red color in the lower panel indicates that the Volume is trending lower supporting bearish price action
How to use the Indicator while Trading?
When the Volume trend matches the price action ( Trend ), you have confirmation of your trade bias. Therefore when you are taking Long trades, you would want to see a Green color in the lower panel and a Red color when you are going Short.
When a Divergence is identified by the tool, as Purple color in the lower panel, Trader can take the following steps:
Take profit or partially close the position if you are in a Trade as this divergence presents
uncertainty
Watch for which color comes up after divergence, that side of the market has a higher
probability of prevailing. For example, a Red color indicates Selling in the market and vice
versa.
Divergence usually precedes a market direction change and therefore Trader can take this
into account when planning Trade bias and position size. Please note a divergence does
not always precede a reversal in the market and can be a temporary phenomenon with no
effect on the price action.
Basic Set-Up
Add the Indicator to the chart
You can change the default colors for Buying Volume, Selling Volume, and Divergence
Use the “Regular Trading Hours” Session in the Chart Settings for the most effective analysis
Please note : On-Balance Volume is a leading indicator but it doesn't provide specific information on exactly what happened or why. Also, a large spike in a single day may throw off the On Balance Volume for a while. Therefore we are focusing on its trend and comparing it with Price Trends for better effectiveness.
LuxAlgo® - Signals & Overlays™Signals & Overlays™ is an all-in-one toolkit made up of more than 20+ features primarily focused on generating useful signals & overlays to fulfill any trader's technical analysis needs with relevant data.
Created directly with TradingView Pine Script Wizard, alexgrover - this is a first of its kind comprehensive script made fully from the ground-up to provide an all-in-one solution for traders.
Signals & Overlays™ can be used alongside other forms of technical analysis, however, it was also designed to be used as a stand-alone toolkit that can fit any trading style. Every feature included considers how not all technical indicators fit every market condition.
The ideal way to utilize this indicator is to explore through all of the features over time, pick & choose 2-3 features best suit your style of trading, and stick with those to create your own unique LuxAlgo trading strategy.
Providing Endless Possibilities Catering To All Trading Styles
Signals & Overlays™ works in any market for discretionary analysis & includes many features:
Beginner-friendly Presets to enable multiple features at once within one-click (locks other settings when enabled).
Confirmation Signals: Normal & Strong signals to help traders confirm trends (not to be followed blindly).
Contrarian Signals: Normal & Strong to help traders spot reversals (also not to be followed blindly).
Exit Signals: "x" marks that apply for both Confirmation Signals & Contrarian Signals to suggest potential take-profit areas during signals.
Signal Optimization Methods: Sensitivity / Agility, optimal sensitvity parameter displayed on dashboard, and Autopilot (dynamic setting).
Candle Coloring: Purple/Green/Red to visualize trends developing between 'normal' & 'strong'.
6+ Indicator Overlays that helps traders visualize trends, find reversal points, and get dynamic areas of support & resistance.
Filters within "Presets / Filters" to allow users to filter Confirmation Signals with Indicator Overlays & other metrics within LuxAlgo Premium.
A complete dashboard with highly actionable metrics such as Trend Strength, current volatility, volume analysis, etc.
Advanced Settings to display customizable TP/SL points, further enhance signal optimizations, & customize dashboard size/location.
Full Any Alert() Function Call Conditions included
Highly useful Filtered Alert Creator section to generate custom filtered signal alerts with Indicator Overlays & other metrics.
+ more. (Check the changelog below for current features)
🔶 USAGE
Basic Signals & Candle Coloring Demonstration
In the image below we can see a basic example of how these 2 core components function within Signals & Overlays™.
As explained earlier, the Confirmation Signals can generate normal labels as well as strong labels marked by the "+" symbol. These signals are directly correlated to the candle coloring in order to see the development of trends & navigate through different market conditions as best as possible.
The candle coloring comes especially in handy when using signals, whereas a positive sign for an uptrend to occur rather than a fake-out is to see candles consistently hold as green. This indicates the market is strong & is likely to continue an uptrend. Vice versa for sell signals & the candles holding as red.
Normal Confirmation Signals often occur with smaller trends, retracements within larger trends, or just as signals a user may not want to trust as much directly. In order to enhance your ability to trust signals more & find more actionable use cases out of LuxAlgo Premium, we recommend going to the settings menu of the indicator & activating some indicator overlays. These are covered in the next section.
🔶 INDICATOR OVERLAYS W/ SIGNALS
In the image below we have enabled the "Smart Trail" & "Reversal Zones" indicator overlays from within the settings of Signals & Overlays™. By using these overlays alongside the signals & candle coloring, users can find more confluence to create trading strategies or plans.
The Smart Trail provides an excellent area of dynamic support/resistance for traders, as well as an additional confluence for general trend following purposes alongside the Confirmation Signals.
The Reversal Zones are particularly useful for areas to immediately take profit on trades, however, during strong trends price may continue rising or falling through the Reversal Zones which makes a good use case of waiting for price to first exit the Reversal Zones before considering the next move in the market.
In the next image below we can see the market is generally ranging, making it more complicated for the standard Confirmation signals to perform greatly as they are meant to excel for finding developing trends. This image displays the Contrarian Signal Mode, Contrarian Gradient candle coloring, as well as the Trend Catcher Indicator Overlay to help us trade these market conditions specifically.
Paired with the Contrarian based candle coloring, these signals can be helpful to a trader looking to find confluent reversals. You can also see the Trend Catcher indicator overlay gives a hybrid approach to analyzing the underlying trend within this price action.
Some traders naturally are Contrarian in nature, so this signal mode may be of primary interest to them, however, most of the use cases will come from the standard Confirmation sigals paired with other overlays or regular technical analysis.
🔶 SIGNALS WITH AI CLASSIFICATION
Our toolkit is able to classify generated signals using a simple machine learning algorithm into four levels. These levels indicate if a signal will most likely indicate a trend continuation (level 3/4) or a reversal/retracement (1/2).
Users are able to filter out certain signals depending on their classification, only keeping signals of interest and potential filtering out false signals.
🔶 FILTERS
In the next image below we can see after resetting the Signals & Overlays™ indicator to it's defaults, we have simply enabled the "Smart Trail Filter" from within the Presets / Filters section at the top of the settings.
By doing this, we can filter out signals that are not aligned with the Smart Trail indicator overlay, which gives direct confluence in every signal that generates on the chart.
Applying filters to signals do not necessarily make them instantly "better" than using the indicator without them. Between every technical indicator, there are trade-offs. So while we can now use Confirmation signals & retests of the Smart Trail as great optimal entry points, at times the indicator may miss signals or retests of the Smart Trail.
The same is seen below with another one of the Filters within Signals & Overlays™; Trend Strength Filter.
We can see the indicator is using the Trend Strength metric to only generate Confirmation Signals that align with a trending market which can clean up a lot of noise during retracements as well as ranging markets.
However, the trade-off present now with this filter enabled is that at times the indicator will miss trends, in which we'd still need to be aware of the price action, candle coloring, or other forms of analysis to give us indications the market may start a new trend opposed to just relying on signals directly.
🔶 CONCLUSION
We believe that success lies in the association of the user with the indicator, opposed to many traders who have the perspective that the indicator itself can make them become profitable. The reality is much more complicated than that.
The aim is to provide an indicator comprehensive, customizable, and intuitive enough that any trader can be led to understand this truth and develop an actionable perspective of technical indicators as support tools for decision making.
You can see the Author's instructions below to get instant access to this indicator & our LuxAlgo Premium indicator suite.
🔶 RISK DISCLAIMER
Trading is risky & most day traders lose money. All content, tools, scripts, articles, & education provided by LuxAlgo are purely for informational & educational purposes only. Past performance does not guarantee future results.
