Supertrend - Delayed TrailI use supertrend for for trailing stops. One of the problem of trailing stops in long term trend trading is we get stopped too early and then trend continues. To avoid this problem, we can limit or delay our trailing.
In this modified version of supertrend, we can delay trailing by two methods:
Bars : Trail after certain bars. Input DelayBars says after how many bars it should trail.
Steps : Trail after reaching equivalent stop on the other side.
ConsiderWicks option reverse direction upon high reaching trailing Sell stop or low reaching trailing buy stop (instead of close)
ConsiderWicksForDelayByStep does the same thing for calculating if the steps have reached.
Média de Amplitude de Variação (ATR)
TrendRangeIdentifier V2This is the enhanced version of TrendRangeIdentifier:
Highlights of this version are:
Different ATR multiplier used based on trend.
Supertrend is used for trend bias for determining which ATR to use on which side
Crossover is based on option selected. It can be either high, low or close price which is determined by crossover type selected.
Remaining parameters remain same as that of original indicator.
GAURs Polynomial Regression ChannelsThanks to The Sweet Lord , here is the Gaur's Polynomial Regression Channel.
Its a Polynomial Regression Channel but applied a little differently. Wont go into technical details much. Overview of options is as follows-
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Channel Options
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1. Degree of Polynomial: 1/2/3
Default = 3
Defines the degree of polynomials - 1,2,3. Note here, degree 1 will not be a straight line since its applied differently.
Try different degrees for different fits and market conditions.
2. Channel Length:
Default 30 (candles)
You can go beyond 100 or 200 candle lengths but smaller is the usual preference of Poly-Reg-channel traders. It all depends on market conditions and your style of trading. Do your research. I am usually comfortable with a range of 20-50 (in crypto markets).
3. Basis of Channel height/boundries: ATR/Manual
Default: ATR
ATR provides a dynamically adjusted entry/exit bounds of the channels. As ATR changes, the channel bounds also changes its height. It can also be fixed manually. Manual heights wont change automatically.
4. Basis of Y-Value: open/close/ sma / ema / wma /hilow
Default: close
Y- value is the y value of the (x,y) coordinates used while calculating the regression coefficients. Dont worry about it, its nothing serious.
5. Apply channel smoothning using sma?: Yes/No
Default: Yes
Without smoothning, the channel does not "look" good.
6. Shaded Area Height Percentage:
Its the extra margin for the channel. Its in percentage of the total height (defined 3 above) of channels. The shaded area provides an extra allowance for your entries or exits beyond the ATR or manual heights.
7. Plot RSI?: Yes/No
Default: Yes
Plots RSI (orange line in between the channel - its different from the dotted center line) considering the downbound of channels as 0 (oversold) and upbound of channels as 100 (overbought)
8. Plot 200 sma?: Yes/No
Default: Yes
It plots a 200 period fast (green) and 225 period slow (red) sma . I usually use two MAs. Its visually very easy to understand.
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Sample Strategy
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You can develop your own strategy with the channels. But following is just one of the ways you can trade.
Best Application: Ranging markets. But can be happily used in volatile conditions, with a little experience.
1. SMA: -- (this condition is optional really)
If green (200) is above red (225) go only long. If red is above green go only short. Defines long term trend of the market.
2. Channel slope: -- (this stuff needs practice/experience)
Depending on the channel slope, like if its tending to go up or down, you can choose to take only short or long trades. It defines short term momentum of the market.
3. ATR based heights:
Since its ATR based, the channel height are our natural entry and exit points.
Long:
When price touches lower shaded area, consider possible long entry. Exit on price entering the upper shaded area.
Short:
Enter on upper bound shaded area, exit on lower.
4. RSI:
For additional conformations. Again note, the RSI considers the lower bound of channel as 0 and upper as 100. But since, the channel moves up and down, the RSI will also move not only as RSI but also with the channel. Meaning, say if the RSI is valued at 50, then it will be near the center of the channel but since the center changes as time and price changes, the RSI valued at 50 at different times will not be at the same horizontal level respect to the graph, although it will be at the same level (center) respect to the channel.
5. PRC Channel Percentage label:
This label is at the lower side a bit ahead of the current candle. Provides you info on what is the channel percentage. This is especially helpful in crypto markets to gauge your possible percentage profit where profits can be much higher than forex or other instruments. It can also helps you select a suitable market/instrument if the channels are based on ATR.
6. Extra indicators:
I usually use stochastic along with this setup for extra conformations.
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Donate
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Use freely and donate generously if you find value. Your help will really help.
I had earlier provided BTC addresses for donations but it seems to violate TV House rules.
Hope they make TV coins redeemable in future.
- Pranav Joshi
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Extra Info
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// © cpranavjoshi
// special thanks to the "Trading View" people for providing this great platform for free
// ------------------------
// MATH
// ------------------------
// special thanks to an article on the web that provided layman friendly explanation of the maths
// unfortunately i wont be able to provide the link to that article owing to TV restrictions, though i sincerely would have liked to credit the author.
// Google search this phrase, and you should be able to get it in one of the first results - "polynomialregression Mathematics of Polynomial Regression"
// my regression math calculation is a further resolution upon the generalized matrix formula given in the that article.
// the generalized matrix looks scary but in fact its much simpler than one may assume
// the summation sign things are just float numbers that can be easily found out
// so we get a matrix with number of equations equal to the number of unknowns.
// e.g. if its a 3rd degree poly, it has 4 unknowns (c0,c1,c2,c3) with 4 equations as in the generalized matrix
// it can be resolved by simple algebra
// Note: the results have been verified with excel using same input data points.
// pine was difficult for me so i coded it in python first to verify
// ------------------------
// WHY
// ------------------------
// this script was coded because Pranav badly needed Polynomial channels (had used them in mt4 earlier)
// and at the time of this coding, i could not find any readily available script in the trading view public library ( tnx public)
// the complex math was probably the hurdle
// i m not good in maths, but by the Will of the Lord, i could resolve the issue with simple algebra and logic
// ------------------------
// PINE
// ------------------------
// i am just an average (even poor probably) programmer and pine script is not my language
// this is a humble attempt to write my first pine with whatever i could do quickly
// experts - feel free to develop if needed. have used some workarounds in drawings/plottings. rectify them if possible
//
//
// - Pranav Joshi
Renko MTF - Traditional and ATRSomehow there aren't too many renko bars that have the traditional setting built-in so I put one up. This one has the option to choose between Traditional and ATR, the size number corresponds to the option that was chosen. And just in case if anyone wanted, I put up a multi-time frame option to choose the time frame the bars take place. D is for day, W is for week, flat numbers are in minutes, and leaving it blank looks at the current time frame the chart is in. The calculation comes from how Tradingview handles renko bars.
Renko bars don't paint a color unless the market moves a certain amount based on its settings. When the market moves up it turns green, if it moves down it turns red, simple color changes alone can say a lot. They're a good way to try to find trends somewhat objectively and seem to be a good way to eliminate time and can replace other time-based indicators that can whipsaw or lag. The bars have a tendency to repeat themselves so it's a good way to find trends. There aren't too many settings for the box size, most people either just choose 5, 10, 14, etc where as other indicators have many options that differ on different markets. The numbers can be chosen easily enough to pick a sweet spot with just a single input where other indicators such as MACD have multiple inputs to pick the right number that can make it difficult to choose from(although it won't be as precise as a MACD would sometimes but can be worth the objectiveness and consistency and same setting repeatability in different markets in my opinion). Some example strategies could be to use them as an alternative trailing stop, finding trends, a simple color change for entry and exit on top of other strategies, etc. It can do the job of many in an all in one price action type indicator(although not better all the time, it can come close enough). Despite all this, it does seem to depend on which time-frame it's being looked at, how TV does the calculation for it, and how one can use this with the lack of practical information on it out there.
Volatility Support & Resistance [LM]Hello guys,
I would like to introduce you volatility support and resistance horizontals. It draws line horizontal on high and low vhighly volatile candles. You can select lines on this timeframe and/or another one. It's done in the same spirit like my other indicators for horizontals
The colors are dynamic depending whether price is below or above the line:
for the current timeframe green is used for support and blue for resistance
for the other timeframe by default 4h orange is used for support and violet for resistance
There are various sections in setting:
general settings - here you can select ATR length, multiplier and show labels
show and hide section of the current timeframe
other timeframe
show and hide other timeframe horizontals
Any suggestions are welcome
Supertrend Screener LABELThis screens for Supertrend reversal's in 10 different securities. The main logic for the screener is taken from "Simple Custom Screener in Pinescript" by QuantNomad with his permission. If the label color is not visible due to the text in it being white colored, then choose a different color from settings. Also added a simple supertrend to it.
Terminology explanation:
Confirmed Reversal: Supertrend reversal that happened in the last bar and cannot be repainted.
Potential Reversal: Supertrend reversal that might happen in the current bar but can also not happen depending upon the timeframe closing price.
Uptrend/Downtrend : Shows all the tickers that are either currently in uptrend or downtrend.
ATR TRex [ipooya]To appreciate dear Mr.Khakestar efforts I have converted his mt4 ATR formula to pine script. All credits go to him.
you can view the ATR result of each candle in the past:
The first black number is the ATR of the M1 chart.
The second black number is the ATR of the M5chart.
The third black number is the ATR of the M15 chart.
The fourth black number is the ATR of the H1 chart.
The fifth black number is the ATR of the H4 chart.
The sixth black number is the ATR of the Daily chart.
The seventh black number is the ATR of the Weekly chart.
**and the second number of every line is live ATR ( current ATR candle)
What makes this ATR formula so different?
This formula invented by Mr.Khakestar and it shows the power of the price to move in each cycle of the chart. We can use it in RTM strategy and Price Action trading. To learn how to use it you need to learn TRex strategy (Presented by Mr.Khakestart for free in Persian).
quantized pin bar indicator with ATRAbstract
This script computes the strength of pin bars.
This script uses the corrent and the previous two bars to compute the strength of pin bars.
The strength of pin bars can be also comared with average true range, so we can evaluate those pin bars are strong or weak.
Introduction
Pin bar is a popular price action trading strategy.
It is based on quick price rejection.
Most of existing pin bar scripts only determine if a bar is a pin bar or not.
However, evaluating the strength of pin bars is important.
If price rejection is too weak, it is difficult to trigger trend reversal.
If a pin bar is too strong, we may enter the trade too late and cannot have good profit.
In this script, it provides a method to compute to strength of pin bars.
After the strength of pin bars are quantized, they can compare with average true range, price range and trend strength, which can help us to determine where are worthy for us to open trades.
Computation
Bullish hammer : current low is lower than ( previous high or current open ) and current close.
Bearish gravestone : current high is higher than ( previous low or current open ) and current close.
Bullish engulfing and harami : ( current low or previous low ) is lower than ( previous 2nd high or previous open ) and current close.
Bearish engulfing and harami : ( current high or previous high ) is higher than ( previous 2nd low or previous open ) and current close.
Parameters
Smoothing : the type of computing average.
Length of ATR : determines the number of true ranges for computing average true range.
ATR multiplier line : the threshould that a pin bar is strong enough. For example, if this value is 0.5, it means a pin bar with 0.5*atr or more is considered a strong pin bar.
one direction pinbar : set to 1 if you want the strength of bullish pin bars and bearish pin bars are cancelled. Set to 0 if you want to keep both strength of bullish pin bars and bearish pin bars; in this case, you may need to change the plot style to make both strength visible.
Trading Suggestions
Evaluate the strength of trend against pin bars. After all, a single reverse pin bar may be too weak to reverse the trend.
Timeframe : if atr is higher than 4*spread, the timeframe is high enough. However, if strong pin bars appear too frequent or price range is too small, going to higher fimeframe may be more safe.
Entry and exit : according to personal flavors.
Conclusion
The strength of pin bars can be quantized.
With this indicator, we can find more potential pin bars which human eyes and binary pattern detectors were leaked.
In my opinion, 0.5*atr is the most suitable streng of a pin bar for my trade entry but I still need to consider the direction of the trend.
You are welcome to share your settings and related trading strategy.
References
Most of related knowledge can be searched from the internet.
I cannot say the exact references because they may violate the rules of Tradingview.
SuperTrendRange by DGTSuperTrendRange study attempts to determine the state of the market
• whether a well-established bull/bear trend is present
• whether the market is trading in a range
SuperTrendRange (STR) takes into account the volatility of the market - further details regarding volatility can be found in the description of “Volatility Bands by DGT” study
Due to its similarities to SupertTrend (ST) and Parabolic SAR (SAR), I will try to explain by stating differences between them
SuperTrendRange uses both the ATR (Average True Range) and STDEV (Standard Deviation) as part of its calculations - unlike ST and SAR where they use only ATR
Sensitivity of the indicator is adjusted using the multiplier setting of both ATR and STDEV
Additionally, unlike ST, the source of the basis of SuperTrendRange can be selected among the assets price value or its moving average
Source and Length are adjustable too
The SuperTrendRange, like Parabolic SAR indicator, appears on a chart as a series of dots, either above, below or unlike Parabolic SAR both above and below of the asset's price
A dot placed
- below the price when the market is trending upward
- above the price when it is trending downward
- both above and below when the price starts moving sideways – this is a feature that both SuperTrend and Parabolic SAR misses, where they are known to produce false signals and losing trades, whereas SuperTrendRange emphasis the zones of the ranges occurring and in most cases are considered no trade recommended zones. Please note that the range width may vary depending on how the market is volatile. It is up to the users to trade if it fits their trading strategies
Dots plotted above and below can be assumed as Support and Resistance levels
Example usages – with trading opportunities
Gold Monthly Chart
Bitcoin Daily Chart
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Chandelier ExitChandelier Exit (CE) is a volatility-based indicator developed by "Chuck Le Beau", ATR is used to measure the Volatility.
It identifies stop loss exit points for long and short trading positions.
Configuring the ATR period = 1 and Multiplier = (say) 1.25 or 1.5, it can be used for readily available buffer Stop Loss value from previous high/low.
Relative ATRThis script was originally for finding the ATR for Range Bars, by subtracting (close - open) and then taking the moving average.
It has been updated to allow the user to select which sources to subtract, and set the period for the moving average.
In this script, bars shown above zero indicate that price is increasing and bars shown below zero indicate that price is decreasing.
Look for divergences in the output plot. Plotting as columns or area work best for seeing divergence, IMO.
It can also be used to monitor ATR on a higher time frame by changing the resolution.
WARNING: I am not a licensed financial advisor. This script is intended for entertainment purposes only. It is available publicly, free of charge. Use at your own discretion and risk. Never blindly follow any indicator or strategy, always follow your own Trading Rules.
If you like this script, please give it a Thumbs Up and leave a comment. Requests for custom scripts and strategies are welcome.
Daily Average True RangeIf you want to get an idea if the current range (low to high) is extended or not?
This script should help you to get an idea relative to the ATR.
Further comments you find in the script.
Feel free to modify upon your needs.
Jonas
NB: Due to issues around the "security" function, the recommended patch of Trading View was implemented.
Supertrend Screener PanelScript to display Supertrend trend state of 8 different securities in a panel. Timeframe & Tickers which are to be displayed can be configured from settings.
Part of code is from the ADX DI Monitoring Panel script by u/wugamlo with his permission. Thanks to him for that and do please check out his work also.
Volatility Bands by DGTVolatility represents how large an asset's prices swing around the mean price, the degree of variation of a trading price over time, and is commonly measured with beta (β) coefficients, standard deviations (σ) of returns where tools such as Average True Range, Bollinger Bands, Keltner Channel, Squeeze Indicator, etc presents volatility concept
Volatility often refers to the amount of uncertainty or risk related to the size of changes in a security's value. The higher the volatility, the riskier the security - the price of the security can change dramatically over a short time period in either direction. A lower volatility - security's value does not fluctuate dramatically, and tends to be more steady
This study, Volatility Bands , attempts to present a way to measure and visualize volatility , using standard deviations (σ) and average true range indicator, and aims to point out areas that might indicate potential trading opportunities
I will try to explain the usage with examples,
same setup with different option selected
as you may observe from the examples different setting may have advantages and disadvantages over one another, it is recommended to verify a trading setup with different available options.
Additionally, It is recommended to use this indicator in conjunction with other technical indicators, or verify using chart/candle patterns. Below is an usage example using in conjunction with other indicator, in the given example “Neglected Volume by DGT” is selected
Similarities and Differences
Bollinger Bands depicts two standard deviations above and below a simple moving average, and Keltner Channel depicts two times average true range (ATR) above and below an exponential moving average
Volatility Bands study combines the approach of both Bollinger Bands and Keltner Channel, with different settings and different visualization
Default settings are one standard deviations and one time average true range (ATR) above and below 13 period exponential moving average. Setting can be adjusted by users but let me remind all testes are performed with the default settings.
Mathematically expressed as
Upper band area between “ema + stdev” and “ema + atr”
Lower band area between “ema – stdev” and “ema – atr”
A different display is added with the inspiration I get from one of the @quantgym ‘s study, many thanks @quantgym 😉
When difference band display is selected the study will reflect the area between “ema + stdev – atr” and “ema – stdev + atr”. As shown in the examples above
Note: standard deviation calculation can be adjusted based on price action or its moving average.
Other differentiation between BB and KC is with V-BANDS mostly we look for trade opportunities when price action move out of the bands and in most cases we assume market is consolidating when the price action is within the bands
The other indicator that presents similarities to Volatility Bands is Squeeze Indicator, which measures the relationship between Bollinger Bands and Keltner's Channels to help identify consolidations and signal when prices are likely to break out. Mainly Volatility Bands is different version of Squeeze indicator, in fact the purpose is almost same but visualization is completely different. Additionally Volatility Bands Offers trading opportunities whereas Squeeze indicator only presents market states unless a momentum indicator is adapted to Squeeze indicator.
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Popgun Bar PatternI created this script to research the trading effectiveness of the Popgun Bar Pattern.
The Popgun Bar Pattern is found when 3 candlesticks in order form the following pattern:
0. Any bar that is then followed by:
1. An inside bar. This is a bar that is completely engulfed by the bar before it. It will have a lower high and a higher low than the previous bar.
2. An outside bar immediately after. This is a bar that completely engulfs the prior inside bar. It will have a higher high and a lower low than the previous bar.
Simply put, the Popgun Bar Pattern is an inside bar followed by an outside bar.
I would highly recommend incorporating this signal as a "trigger" for existing technical analysis. Used in isolation it may not have a high probability of success.
To make it more effective as a trigger to a trading signal I incorporated into my code an Entry, Stop, and a Target dot.
The Entry dot is offset from the low of a bearish Popgun Bar Pattern or the high of a bullish Popgun Bar Pattern by a factor of ATR. The default ATR percentage is 33% but can be adjusted.
The Stop dot is based on the recent highest high (bearish) or lowest low (bullish) of a set range (default is 9 bars) plus/minus the ATR percentage buffer.
The Target dot is automatically calculated from the entry based on a configurable reward factor (default is 3) from the entry to stop distance. This projects a potential 3:1 reward/risk trade by default.
There is an additional alert condition which can be configured at the end of the script.
ATR color zones with volume radar [LM]Hello Guys,
I would like to introduce you the ATR color zones with volume radar indicator. It's a fork of @GlobalMarketSignals "GMS: Mr. Yen's Color Zone" shout-out to him.
I have enriched it -> that zones are calculated based on the ATR and percentages as described below and volume radar on candle bars. You can select from which timeframe color zones are calculated.
Zones:
white line is the previous period close
red zone = +/- 20% ATR of previous period
yellow zone = +/- 40% ATR of previous period
green zone = +/- 60% ATR of previous period
blue zone = +/- 100% ATR of previous period
Volume radar:
lime = above volume MA average multiplied by multiplier up bar
maroon = above volume MA average multiplied by multiplier down bar
black = volume is decreasing but is not below half of volume MA
navy = volume is decreasing and is below half of volume MA
markers are shown when volume is increasing two consecutive candle in row in direction of the candle
Any suggestions are welcomed
CC - Array-meta Consolidated Interval Display (ACID)This script extends my other two Array examples (which I've also provided to you open source):
The Ticker-centric 5m,15m,45m,1h,4h,1d resolution labels using arrays:
And the more Macro VIX,GLD,TLT,QQQ,SPY,IWM 1d resolution labels using arrays:
This script aims to show how to use min/max/avg with Arrays easily. My next example after this will be exploring the usage of variance versus covariance ratios over different periodic interval resolutions. Currently, this is using the following intervals: 5m,15m,45m,1h,4h,1d. It takes these intervals, calculates the values at those resolutions and puts the absolute min and max from the 5 minute to the 1 day resolutions.
It's more of an example of the power that arrays can hold, as all this truly is right now is a min/max bound calculator. The real gem lies in the avg calculators for multiple resoltuions tied into a single label with readable data. Check out the code and let me know what you think. If you need more examples, the other two scripts I mentioned before are also open source.
Using this on intervals of less than 1D sometimes times out, the way I wrote it is memory intensive, may not work for non-pro users.
Thanks!
NONE OF THIS IS FOREWARD LOOKING STATEMENTS, THIS IS NOT A PREDECTIVE ANALYSIS TOOL. THIS IS A RESEARCH ATTEMPT AT A NOVEL INDICATOR. I am not responsible for outcomes using it.
Please use and give criticisms freely. I am experimenting with combining resolutions and comparing covariance values at different levels right now, so let me know your thoughts! The last indicator will likely not be open source, but may be depending on how complex I get.
CC - Macro Consolidated Interval Display (MCID)Ever wish you didn't have to rapidly flip between 6 different tickers to get the full picture?
Yeah, me too. Do you also wish that you kind of understood how the shift / unshift function works for arrays?
Yeah, I did too. Both of those birds are taken care of with one stone!
The Macro Consolidated Interval Display uses the new Array structure and security to display data for VIX, GLD, TLT, QQQ, SPY and IWM (at a 1D interval) SIMUTANEOUSLY! Regardless of which ticker you're looking at you can get the full picture of macro futures data without flipping around to get it.
This is my first script trying to use arrays. It basically shows the following a 1d interval:
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP for VIX.
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP for GLD.
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP for TLT.
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP for QQQ.
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP for SPY.
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP for IWM
To make it more or less busy, I've allowed you to toggle off any of the levels you wish. I've also chosen to leave this as open source, as it's nothing too experimental, and I hope that it can gain some traction as an Array example that the public can use! If you don't like the different values that are shown, use this source code example as a spring-board to put values that you do care about onto the labels.
If this code has helped you at all please drop me a like or some constructive criticism if you do not think it's worth a like.
Good luck and happy trading friends. This should be compatible with my CID as well:
If this gets traction, I will post something similar for a dynamic combination of tickers and intervals that you can set yourself.
CC - Consolidated Interval Display (CID)Ever wish you didn't have to rapidly flip between 6 different intervals to get the full picture?
Yeah, me too. Do you also wish that you kind of understood how the shift / unshift function works for arrays?
Yeah, I did too. Both of those birds are taken care of with one stone!
The Consolidated Interval Display uses the new Array structure and security to display data for 5m, 15m, 45m, 1h, 4h and 1d intervals SIMUTANEOUSLY! Regardless of which interval you're looking at you can get the full picture of numerical data without flipping around to get it.
This is my first script trying to use arrays. It basically shows the following for the given ticker:
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP at the 5 minute level.
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP at the 15 minute level.
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP at the 45 minute level.
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP at the 1 hour level.
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP at the 4 hour level.
ATR14, RSI7, RSI14, SMA50, SMA200 and VWAP at the 1 day level.
To make it more or less busy, I've allowed you to toggle off any of the levels you wish. I've also chosen to leave this as open source, as it's nothing too experimental, and I hope that it can gain some traction as an Array example that the public can use! If you don't like the different values that are shown, use this source code example as a spring-board to put values that you do care about onto the labels.
If this code has helped you at all please drop me a like or some constructive criticism if you do not think it's worth a like.
Good luck and happy trading friends.
If this gets traction, I will post something similar for a combination of SPY, VIX, GOLD, QQQ, IWM and TLT.
[SCL] Bitcoin Hashrate Dips (Miner Capitulation)Gives long-term buy signals for Bitcoin from dips and recoveries in the hashrate (the "miner capitulation" theory). It has an overlay and a standalone mode and is fully configurable. It uses Williams Lows and ATR instead of moving averages.
Features that might be interesting for Pinescripters:
+ Automatic (as far as is possible currently) adjustment of plots for overlay and standalone display modes.
+ A neat label function for debugging floats
+ Fully commented
+ The debug that I used to overcome problems in developing it is left in
+ Ideas for how to deal with a wildly oscillating and exponentially increasing data source
You need to run this indicator on the Bitcoin daily chart for it to make any sense. The best is a BTC/USD chart with a long history, such as BNC:BLX.
Daily Average True RangeThis script should give you a quick idea how far your stock has moved intraday compared to the ATR.
Label Display DemoA label function for display an arbitrary value above or below the chart.
There is no convenient way to display the value of a variable in pinescript. This is most convenient way I found.
It will follow the current bar (the position is calculated with highest/lowest and atr value, as such it will never display over the chart)
In this script we display ATR for the example
Volatility GuppyBased on my previous script "Turtle N Normalized," this script plots the CM SuperGuppy on the value of N to identify changing trends in the volatility of any instrument.
Turtle rules taken from an online PDF:
"The Turtles used a concept that Richard Dennis and Bill Eckhardt called N to represent the underlying volatility of a particular market.
N is simply the 20-day exponential moving average of the True Range, which is now more commonly known as the ATR. Conceptually, N represents the average range in price movement that a particular market makes in a single day, accounting for opening gaps. N was measured in the same points as the underlying contract.
The Turtles built positions in pieces which we called Units. Units were sized so that 1 N represented 1% of the account equity. Thus, a unit for a given market or commodity can be calculated using the following formula:
Unit = 1% of Account/(N x Dollars per Point)"
To normalize the Unit formula, this script instead takes the value of (close/N). Dollars per point = 1 for stocks and crypto, but will change depending on the contract specifications for individual futures .
"Since the Turtles used the Unit as the base measure for position size, and since those units were volatility risk adjusted, the Unit was a measure of both the risk of a position, and of the entire portfolio of positions."
When the EMA's are green, volatility is decreasing.
When the EMA's are red, volatility is increasing.
When the EMA's are grey, the trend is changing.
Turtle N NormalizedSimple script that calculates the normalized value of N. Rules taken from an online PDF containing the original Turtle system:
"The Turtles used a volatility-based constant percentage risk position sizing algorithm. The Turtles used a concept that Richard Dennis and Bill Eckhardt called N to represent the underlying volatility of a particular market.
N is simply the 20-day exponential moving average of the True Range, which is now more commonly known as the ATR. Conceptually, N represents the average range in price movement that a particular market makes in a single day, accounting for opening gaps. N was measured in the same points as the underlying contract.
The Turtles built positions in pieces which we called Units. Units were sized so that 1 N represented 1% of the account equity. Thus, a unit for a given market or commodity can be calculated using the following formula:
Unit = 1% of Account/(N x Dollars per Point)"
To normalize the Unit formula, this script instead takes the value of (close/N). Dollars per point = 1 for stocks and crypto, but will change depending on the contract specifications for individual futures.
"Since the Turtles used the Unit as the base measure for position size, and since those units were volatility risk adjusted, the Unit was a measure of both the risk of a position, and of the entire portfolio of positions."
When the value of N is high, volatility is low and you should be more risk-on.
When the value of N is low, volatility is high and you should be more risk-off.
