My script//@version=5
indicator("12M High Volume Screener", overlay=false, screen=true)
// Calculate 12-month window dynamically
var int lookbackDays = 252
var int maxBarsBack = 5000
// Define timeframe for volume analysis (daily regardless of chart TF)
dailyVolume = request.security(syminfo.tickerid, "D", volume, lookahead=barmerge.lookahead_on)
// Calculate highest volume over trailing 12 months (excl. current bar)
highestVol = ta.highest(dailyVolume , lookbackDays)
// Detect volume breakout condition
volumeBreakout = dailyVolume > highestVol and barstate.isrealtime
// Screener output formatting
screener_output = volumeBreakout ? 1 : 0
// Visual confirmation (optional)
plot(screener_output, "Volume Breakout", plot.style_columns,
color=volumeBreakout ? color.new(color.green, 70) : color.gray)
Bandas e Canais
support band level 2📉 Support Band Level 2 – Support Zone and resistance zones only for Bitcoin.
Overview:
Support Band Level 2 is a support band designed for long-term traders, providing a reliable support range based on a combination of SMA and EMA calculated on a fixed higher timeframe (default: 1W)
🧠 What Makes It Unique:
This band highlights the strongest support in a Bitcoin's bull market.
Unlike traditional SMA and EMA indicators, which can be confusing when multiple levels break or hold, the band clearly shows when support is holding or being broken. By using this band, you can avoid the uncertainty that comes from analyzing individual moving averages.
besides more than just code this indicator has a strategy and a extensive backtesting behind it.
🛠️ How to Use:
Apply it to any chart timeframe — the band will remain synchronized with the fixed higher timeframe (e.g., 1W).
Use the white band to identify long-term support levels and invalidation points.
Support is often tested multiple times, and after holding, we usually see a continuation of the pump. However, if 2 weekly candles close below the white band, this indicates a bearish trend.
⚠️ Disclaimer:
This indicator does not provide buy/sell signals or predictions. It serves as a visual reference tool to assist in technical analysis by marking key support zones. Always use proper risk management strategies when making trading decisions.
Why Choose Support Band Level 2?
Support Band Level 2 provides a clear and reliable indication of market trends, making it an essential tool for long-term traders. The indicator helps you easily identify when the market is in a bullish or bearish phase:
Bullish when the price is above the white band.
Bearish when the price is below the white band.
Additionally, this indicator can also complement your day trading strategy. By combining it with your existing tools, you can follow a simple yet effective strategy:
Go long only when the price is above the white band.
Go short only when the price is below the white band.
Proven Performance:
Based on 10 years of backtesting using Bitcoin data, this indicator has shown strong reliability in identifying critical support and resistance levels.
It’s an invaluable tool for both long-term planning and short-term strategies, helping you make more informed trading decisions with ease.
Why Choose Support Band Level 2?
While many indicators can look visually impressive, the key focus of Support Band Level 2 is its practicality, simplicity and performance. I prioritize creating tools that work effectively in real market conditions, ensuring that you get in most cases good trading signals. This indicator is designed to provide actionable insights, not just aesthetics.
the strenght of this indicator is its backtesting.
this is not a financial advice
Envelope//@version=5
indicator("FX 5分足 EMA+MACD+RSI 手法アラート", overlay=true)
// === EMA設定 ===
ema20 = ta.ema(close, 20)
ema50 = ta.ema(close, 50)
ema100 = ta.ema(close, 100)
plot(ema20, color=color.yellow, title="EMA 20")
plot(ema50, color=color.orange, title="EMA 50")
plot(ema100, color=color.red, title="EMA 100")
// === MACD設定 ===
= ta.macd(close, 12, 26, 9)
macdBuy = ta.crossover(macdLine, signalLine)
macdSell = ta.crossunder(macdLine, signalLine)
// === RSI設定 ===
rsi = ta.rsi(close, 14)
// === ロング条件 ===
longCondition = ema20 > ema50 and ema50 > ema100 and close >= ema20 and macdBuy and rsi > 50 and rsi < 70
plotshape(longCondition, location=location.belowbar, color=color.green, style=shape.labelup, text="Buy", title="Buy Signal")
// === ショート条件 ===
shortCondition = ema20 < ema50 and ema50 < ema100 and close <= ema20 and macdSell and rsi < 50 and rsi > 30
plotshape(shortCondition, location=location.abovebar, color=color.red, style=shape.labeldown, text="Sell", title="Sell Signal")
// === アラート設定 ===
alertcondition(longCondition, title="Buy Alert", message="Buy Signal: EMA + MACD + RSI conditions met")
alertcondition(shortCondition, title="Sell Alert", message="Sell Signal: EMA + MACD + RSI conditions met")
Major Trading SessionsThis script displays the trading sessions of the 3 markets that are relevant in crypto. US, UK, and Tokyo.
ES/MES 70% Confluence Strategy (9-Factor)✅ Included Features:
Entry signal only when 7 out of 9 indicators confirm (70%+ confluence)
15-minute Opening Range box from 9:30–9:45am ET, drawn clearly
VWAP + EMA 8/21/55 plotted for context
Risk/Reward box (5-point risk, 1:1 reward)
Stepwise trailing stop that moves every 5 points of profit
Buy/Sell alerts and debug labels to help you fine-tune
🧠 9 Indicators Used in Signal Score:
✅ EMA trend stack: 8 > 21 > 55
✅ Price above/below VWAP
✅ MACD Histogram momentum
✅ Stochastic RSI reversal
✅ Candle body > 60% of total range
✅ Volume > 20-bar average
✅ ATR rising
✅ Rejection of OR high/low
✅ Pullback near EMA 21 or VWAP (within 1 point)
Key Levels and EMAs StrategyThis script plots the following lines on the chart:
1. Previous day highs, mids and lows
2. Pre-market high, mids and lows
3. Current day high, mids and lows
3 Key EMAs (13, 48, 200)
ES/MES Hybrid VWAP + Confluence Strategy📋 Confluence Conditions (8 total):
Price above/below VWAP
EMA 21 > EMA 55 (or inverse)
MACD histogram momentum
Stoch RSI bounce/drop
Price near VWAP bounce (from your original logic)
Opening Range rejection
Candle strength (body % > 60%)
Volume spike
➡️ A signal triggers if 5 or more are true on the same bar.
Daily ATR Bonanza: Expected Moves - Tr33man Daily ATR Bonanza: Expected Moves
Overview 🤷♂️
The Daily ATR Bonanza script is a powerful trading tool designed to help traders visualize and understand potential price movements using the Average True Range (ATR). It provides daily and weekly ATR levels, historical statistics, and conditional probability analysis to give traders actionable insights. The script also plots the daily Keltner channel. This script is ideal for traders who want to gauge volatility, identify key levels, and make data-driven decisions.
b]Key Features:
📈 1. Daily and Weekly ATR Levels
🔵ATR Levels: The script calculates and displays ATR-based levels for the day and week. These levels are derived from the previous day's or week's close price and are adjusted using customizable multipliers (0.5x, 1x, and 1.5x by default).
🔵You can choose the number of ATR levels (1, 2, or 3) and adjust the multipliers to suit your trading strategy.
🌐 2. ATR Bands (Keltner Channels)
🔵The script includes an option to display ATR Bands, which are volatility-based envelopes around a moving average. These bands help identify overbought and oversold conditions.
🔵You can adjust the ATR multiplier and the length of the moving average used for the bands.
🧮 3. Historical Statistics and Conditional Probability
🔵 Historical Analysis: The script analyzes historical price movements to calculate the likelihood of closing at certain ATR levels.
🔵 Conditional Probability: This feature shows the probability of the price reaching specific ATR levels given the current market conditions. The conditional matches historical data by an open in the same opening ATR bucket, as well as the current price bucket having been visited in the historical case. Conditional probabilities are just statistics, and do not predict anything.
Data Table: 📚
🔵 Historical Close Probability: The percentage of days the price closed within each ATR level.
🔵 Conditional Close Probability: The likelihood of the price closing within each ATR level today.
❓ What is Conditional Probability? ❓
Conditional probability is a statistical measure that calculates the likelihood of an event occurring given that another event has already occurred. In this script, it is used to determine the probability of the price reaching specific ATR levels based on the current opening range as well as current ATR distance from the previous close.
For example:
If the market opens near the lower end of the first ATR level, the script calculates the likelihood of the price reaching the upper end of the first, second, or third ATR level.
This analysis is based on historical data, making it a powerful tool for understanding potential price movements.
🌟 Understanding the Levels
🔵Daily Levels: These are based on the previous day's close price and ATR. They are updated at the start of each new day.
🔵Weekly Levels: These are based on the previous week's close price and ATR. They are updated at the start of each new week.
🔵ATR Bands: These are dynamic levels that adjust with market volatility.
🔬 Analyze the Statistics (Daily only for now, no weekly yet)
🔵Use the interactive table to understand historical probabilities and conditional probabilities.
🔵Focus on the current opening range and the likelihood of reaching specific levels.
🧠 Make Trading Decisions
🔵Use the ATR levels and bands to identify key support and resistance levels.
🔵Use the conditional probability table to gauge the likelihood of reaching specific targets.
🔵Adjust your strategy based on the historical performance of the market.
Example Use Cases
1. Day Trading
Use the daily ATR levels to set intraday targets and stop-loss levels.
Monitor the conditional probability table to adjust your expectations based on the opening range.
2. Swing Trading
Use the weekly ATR levels to identify longer-term support and resistance levels.
3. Scalping
Use the ATR bands to identify overbought and oversold conditions.
Use the conditional probability table to quickly assess the likelihood of price movements.
Comercial Trader -Vol. Desvio PadrãoScript criado para fazer a distribuição de volatilidade do ativo pelo desvio padrão
Zero Lag Trend Signals (MTF) + Sideways FilterThis script is a custom indicator for TradingView that combines two major components: the **Zero Lag Trend** (with MTF support) and a **Sideways Market Filter**. Let me break down the key features and functions of the script:
### Key Components:
1. **Zero Lag Trend Signals**:
- **Zero Lag Trend (ZLEMA)**: A smoothed moving average designed to minimize lag and give faster responses to price movements. This is used to determine the trend.
- **Trend Bands**: Upper and lower bands are derived from the ZLEMA value and adjusted by volatility (calculated using Average True Range or ATR).
- **Trend Direction**: The trend direction is determined by whether the price crosses over the upper or lower band of the ZLEMA, indicating bullish or bearish trends.
2. **Sideways Market Filter**:
- **RSI (Relative Strength Index)**: Measures the speed and change of price movements. It's used here to identify neutral or sideways market conditions when RSI is between 40 and 60.
- **ADX (Average Directional Index)**: Measures the strength of a trend. The script considers a sideways market when ADX is less than 25 and both DI+ and DI- are low.
- **Sideways Market Condition**: A sideways market is defined when the RSI is in the range of 40 to 60 and the ADX is below 25, indicating weak trends.
### Main Features:
1. **Sideways Market Indicators**:
- **Sideways Circles**: When the market is identified as "sideways" based on RSI and ADX conditions, a small circle is plotted either above or below the bars on the chart. The user can adjust the color of the circles via the indicator settings.
- **Sideways Market Filter**: This filter helps to determine when to stay out of trend-based signals, and its detection is visually marked by the circles.
2. **Zero Lag Trend (ZLEMA) Plot**:
- **ZLEMA**: The Zero Lag Exponential Moving Average is plotted as a baseline, and the direction of the trend is indicated by color changes. Green is used for bullish trends, and red is used for bearish trends.
- **Trend Bands**: The script calculates upper and lower bands around the ZLEMA using volatility, and these bands help identify areas of potential trend reversal.
3. **Trend Plotting**:
- **Trend Arrows**: When the trend crosses from bullish to bearish or vice versa, the script plots arrows ("▲" for bullish and "▼" for bearish) above or below the bars on the chart to indicate the signal.
- **Trend Entry Points**: Small arrows are plotted when an entry point is detected for a long (bullish) or short (bearish) position.
4. **Multi-Timeframe (MTF) Trend Signals**:
- The script includes multi-timeframe (MTF) analysis by checking the trend on different timeframes (5m, 15m, 60m, 240m, and 1D).
- A **data table** is displayed on the chart showing the trend status for each of these timeframes (Bullish or Bearish), helping the trader visualize the trend across multiple timeframes.
5. **Alerts**:
- **Alert Conditions**: Alerts are triggered when specific conditions are met, such as:
- Bullish or bearish trend crossover.
- Zero Lag Trend crossing the price.
- Trend change signals on any of the timeframes.
- Alerts for bullish and bearish entry signals based on the trend.
### Inputs for Customization:
- **Zero Lag Trend Parameters**: Length, multiplier for the band, and timeframes for MTF analysis (t1, t2, t3, t4, t5).
- **Color Customization**: Colors for bullish and bearish trends, as well as the fill colors for the bands and the sideways market circles.
- **Sideways Market Filter Parameters**: RSI length, ADX length, and options for showing sideways market circles.
- **Circle Customization**: You can adjust the size, color, and location (above or below bars) of the sideways market circles.
### Summary:
This indicator is a sophisticated tool that combines the **Zero Lag Trend** and **Sideways Market Filter** to help traders:
- Identify strong trends (bullish or bearish) using the ZLEMA and volatility bands.
- Stay out of choppy or sideways markets using the RSI and ADX filter.
- Make trading decisions based on trend confirmation across multiple timeframes (MTF).
- Customize the visual appearance, including color schemes, circle size, and alert conditions.
This script is perfect for traders who want to focus on trading trends while avoiding market conditions that are not conducive to strong directional moves.
Simple EMA Cloud (20/50)Simple EMA Cloud 20/50.
The objective of this indicator is to give a directional bias.
You can change the EMA values and colors.
This works well by default on the 30-minute CME_MINI:ES1! and CME_MINI:NQ1! NQ.
Pro Tip:
Lower the EMA values if you're trading lower time frames.
If you see a move above or below the cloud in the opposite direction of the trend, and then the price immediately recovers and switches to the trending side of the cloud, this can be a nice entry.
Volume-Weighted Pivot BandsThe Volume-Weighted Pivot Bands are meant to be a dynamic, rolling pivot system designed to provide traders with responsive support and resistance levels that adapt to both price volatility and volume participation. Unlike traditional daily pivot levels, this tool recalculates levels bar-by-bar using a rolling window of volume-weighted averages, making it highly relevant for intraday traders, scalpers, swing traders, and algorithmic systems alike.
-- What This Indicator Does --
This tool calculates a rolling VWAP-based pivot level, and surrounds that central pivot with up to five upper bands (R1–R5) and five lower bands (S1–S5). These act as dynamic zones of potential resistance (R) and support (S), adapting in real time to price and volume changes.
Rather than relying on static session or daily data, this indicator provides continually evolving levels, offering more relevant levels during sideways action, trending periods, and breakout conditions.
-- How the Bands Are Calculated --
Pivot (VWAP Pivot):
The core of this system is a rolling Volume-Weighted Average Price, calculated over a user-defined window (default 20 bars). This ensures that each bar’s price impact is weighted by its volume, giving a more accurate view of fair value during the selected lookback.
Volume-Weighted Range (VW Range):
The highest high and lowest low over the same window are used to calculate the volatility range — this acts as a spread factor.
Support & Resistance Bands (S1–S5, R1–R5):
The bands are offset above and below the pivot using multiples of the VW Range:
R1 = Pivot + (VW Range × multiplier)
R2 = R1 + (VW Range × multiplier)
R3 = R2 + (VW Range x multiplier)
...
S1 = Pivot − (VW Range × multiplier)
S2 = S1 − (VW Range × multiplier)
S3 = S2 - (VW Range x multiplier)
...
You can control the multiplier manually (default is 0.25), to widen or tighten band spacing.
Smoothing (Optional):
To prevent erratic movements, you can optionally toggle on/off a simple moving average to the pivot line (default length = 20), providing a smoother trend base for the bands.
-- How to Use It --
This indicator can be used for:
Support and resistance identification:
Price often reacts to R1/S1, and the outer bands (R4/R5 or S4/S5) act as overshoot zones or strong reversal areas.
Trend context:
If price is respecting upper bands (R2–R3), the trend is likely bullish. If price is pressing into S3 or lower, it may indicate sustained selling pressure or a breakdown.
Volatility framing:
The distance between bands adjusts based on price range over the rolling window. In tighter markets, the bands compress — in volatile moves, they expand. This makes the indicator self-adaptive.
Mean reversion trades:
A move into R4/R5 or S4/S5 without continuation can be a sign of exhaustion — potential for reversal toward the pivot.
Alerting:
Built-in alerts are available for crosses of all major bands (R1–R5, S1–S5), enabling trade automation or scalp alerts with ease.
-- Visual Features --
Fuchsia Lines: Mark all Resistance (R1–R5) levels.
Lime Lines: Mark all Support (S1–S5) levels.
Gray Circle Line: Marks the rolling pivot (VWAP-based).
-- Customizable Settings --
Rolling Length: Number of bars used to calculate VWAP and VW Range.
Multiplier: Controls how wide the bands are spaced.
Smooth Pivot: Toggle on/off to smooth the central pivot.
Pivot Smoothing Length: Controls how many bars to average when smoothing is enabled.
Offset: Visually shift all bands forward/backward in time.
-- Why Use This Over Standard Pivots? --
Traditional pivots are based on previous session data and remain fixed. That’s useful for static setups, but may become irrelevant as price action evolves. In contrast:
This system updates every bar, adjusting to current price behavior.
It includes volume — a key feature missing from most static pivots.
It shows multiple bands, giving a full view of compression, breakout potential, or trend exhaustion.
-- Who Is This For? --
This tool is ideal for:
Day traders & scalpers who need relevant intraday levels.
Swing traders looking for evolving areas of confluence.
Algorithmic/systematic traders who rely on quantifiable, volume-aware support/resistance.
Traders on all assets: works on crypto, stocks, futures, forex — any chart that has volume.
🚀 BB+MACD Dip Screener @alptekinkekilli🌟 **What it does**
• Detects deep “dip-and-bounce” setups when price is trading below both the 50EMA and 200EMA
• Ensures the entire Bollinger Band sits beneath those EMAs for optimal risk/reward
• Fires only when price crosses up through the lower BB AND MACD line crosses above its signal line
🔍 **Why use it**
• Quickly scan hundreds of tickers for textbook dip-and-bounce entries
• Filter out noisy false signals by requiring multi-timeframe alignment (EMAs + BB + MACD)
• Perfect for trending markets where retracements offer low-risk entries
⚙️ **How to add the screener filter**
1. Copy & paste this script into Pine Editor → **Save & Add to Chart**
2. Publish as **Public** so it appears in Stock Screener → Technical
3. In **Stock Screener → Filters**, search for **BB+MACD Dip Screener** → select **BB_MACD_Dip > 0**
4. Voilà! You’ll see all symbols flashing “1” when a dip buy emerges.
🚨 **Bonus Alert**
Use the built-in `alertcondition(buyCond, "BB+MACD Dip Buy", "Dip buy confirmed!")` to fire real-time notifications to your phone or email.
Happy scanning & safe trading! 📈💰
Premium Lux AlgoCombining multiple indicators to receive buy and sell signals and create support and resistance levels and cloud space
Synthesized Ichimoku + Global M2 DeltaCombined my point tangent ichimoku indicator with my global M2 time lag delta indicator.
How it works:
(1) select time lag range for M2 (Lag 1 & Lag 2)
(2) select width of M2 range (Scalar Multiplier)
(3) select ichimoku values: tenkan, kijun, senkou, time displacement, smoothing
Default values are what I use to track BTCUSD on the daily chart.
If you want to track other assets I recommend tinkering with the variables until it makes sense.
Coloration is determined by whether:
m2_diff > 0 or m2_diff < 0
senkou_a_new > senkou_b_new
Bright green: strong accumulation zone
Bright red: strong sell zone
Dim green: weak accumulation zone
Dim red: weak sell zone
Custom Opening Range Breakout (IST, Fixed)This script is designed to:
Calculate and visualize the Opening Range (OR) for any session using Indian Standard Time (IST)
Automatically plot breakout levels (A and C) based on a user-defined percentage buffer
Draw persistent horizontal lines from the OR candle to the end of the trading day
Reset daily, drawing a fresh set of levels for each new session
Custom Opening Range Breakout (IST, Fixed)This script is designed to:
Calculate and visualize the Opening Range (OR) for any session using Indian Standard Time (IST)
Automatically plot breakout levels (A and C) based on a user-defined percentage buffer
Draw persistent horizontal lines from the OR candle to the end of the trading day
Reset daily, drawing a fresh set of levels for each new session
Bitcoin Price Triumvirate (Supply, Demand, Inflation)The Bitcoin price split into the Supply Halvings, Adoption Demand, and Inflation Response bands of influence. I'm reading Book III about the Roman Empire, in The Story Of Our Civilization by Will Durant, so of course this is now called The Bitcoin Price Triumvirate. If you want to check the book out, it's called, "Caesar and Christ" by Will Durant.
DropHunterBuy: Green triangle under the candle (price at the lower BB band, RSI < 30, EMA(9) > EMA(50)).
Stop loss: 10-15 points (M15) or 20-30 points (H1).
Take profit: 20-30 points (M15) or 50-70 points (H1).
Sale: Red triangle above the candle (price at the upper BB band, RSI > 70, EMA(9) < EMA(50)).
Stop loss and take profit are similar.
Exit: Close the position when the middle BB line (bbMiddle) is reached or when the opposite signal is given.
Risk: 2-5% deposit per transaction (for example, $20-50 with a deposit of $1000).
Custom Opening Range Breakout (IST)This indicator allows you to define your own Opening Range (OR) window based on Indian Standard Time (IST),
calculate breakout levels above and below the range with a custom percentage buffer,
and plot the OR and breakout levels clearly on your intraday charts.
Entropy Bands (TechnoBlooms)Entropy Bands — A New Era of Volatility and Trend Analysis
Entropy Bands is our next indicator as a part of the Quantum Price Theory (QPT) Series of indicators.
🧠 Overview
Entropy Bands are an advanced volatility-based indicator that reimagines traditional banded systems like Bollinger Bands.
Built on entropy theory, adaptive moving averages, and dynamic volatility measurement, Entropy Bands provide deeper insights into market randomness, trend strength, and breakout potential.
Instead of only relying on price deviation (like Bollinger Bands), Entropy Bands integrate chaos theory principles to create smarter, more responsive dynamic bands that adapt to real market behavior.
🚀Why is Entropy Bands Different — and Better
Dynamic Band Width : Adjusts using both entropy and ATR, creating smarter expansion/contraction.
Multi-Moving Average Core : Choose between SMA, EMA, or WMA for optimal centerline behavior.
Noise and Breakout Filtering : Filters fake breakouts by analyzing candle body size and entropy conditions.
Visual Clarity : Background and candle coloring highlight chaotic/noisy zones, trend zones, and breakout moments.
Entropy Bands don't just react to price — they analyze the underlying market behavior, offering superior decision-making signals.
📚 Watch Band Behavior:
Bands expand during volatility spikes or chaotic conditions.
Bands contract during low volatility or tight consolidation zones.
📚 Analyze Candle Coloring:
Green = Bullish breakout (closing above upper band).
Pink = Bearish breakout (closing below lower band).
Gray = Inside bands (neutral/random noise).
✨ Key Features of Entropy Bands:
Entropy-Based Band Width Calculation: A scientific edge over pure price deviation methods.
Dynamic Background Coloring: Highlights high entropy areas where randomness dominates.
Candle Breakout Coloring: Easy-to-spot trend breakouts and strength moves.
Multi-MA Flexibility: Adapt the bands’ core to trending, ranging, or volatile markets.
Body Size Filter: Protects against fake breakouts by requiring meaningful candle body moves.
[blackcat] L3 Cloud PioneerOVERVIEW
The L3 Cloud Pioneer indicator combines elements of the Ichimoku Kinko Hyo system with Donchian Channels to provide a robust trend-following tool. This enhanced version includes detailed trade signal labels and alerts, helping traders identify potential entry and exit points more clearly. By plotting dynamic cloud areas and providing visual cues, this indicator aids in making informed trading decisions 📊📉↗️.
FEATURES
Calculates key Ichimoku components using custom Donchian Channel logic:
Conversion Line (based on highest/highest values over specified periods).
Base Line.
Leading Spans.
Lagging Span 2.
Plots a dynamic cloud area between Leading Span 1 and Leading Span 2, colored based on trend direction 🎨.
Identifies trend changes and provides clear entry/exit signals:
LE: Long Entry (when trend turns bullish).
SE: Short Entry (when trend turns bearish).
XL: Exit Long (price crosses below Leading Span 1 during an uptrend).
RL: Re-enter Long (price crosses above Leading Span 1 during an uptrend).
XS: Exit Short (price crosses above Leading Span 1 during a downtrend).
RS: Re-enter Short (price crosses below Leading Span 1 during a downtrend).
Displays corresponding labels on the chart for easy visualization, complete with tooltips for additional information 🏷️.
Generates alerts for each signal event to keep users informed about potential trades 🔔.
Supports customizable input parameters for conversion line, base line, and lagging span periods ⚙️.
HOW TO USE
Add the indicator to your TradingView chart by selecting it from the indicators list.
Adjust the input parameters (Conversion Line Periods, Base Line Periods, Lagging Span 2 Periods) to fit your preferences.
Observe the plotted cloud and labels for trend direction and potential trade opportunities.
Set up alerts based on the generated signals to receive notifications when conditions are met 📲.
Combine this indicator with other tools for confirmation before making trading decisions.
DETAILED SIGNAL LOGIC
Trend Determination:
The script determines the trend direction by comparing leading_line1 and leading_line2.
If leading_line1 is above leading_line2, the trend is considered bullish (isBullish). Otherwise, it's bearish (isBearish).
Signal Conditions:
Long Entry (LE): Triggered when the trend turns bullish from bearish.
Short Entry (SE): Triggered when the trend turns bearish from bullish.
Exit Long (XL): Triggered when the price crosses below leading_line1 during an uptrend.
Re-enter Long (RL): Triggered when the price crosses above leading_line1 during an uptrend.
Exit Short (XS): Triggered when the price crosses above leading_line1 during a downtrend.
Re-enter Short (RS): Triggered when the price crosses below leading_line1 during a downtrend.
Label Styling:
Labels are color-coded for quick identification:
Green for long entries and re-entries.
Red for short entries and exits.
Blue for exiting long positions.
Orange for re-entering short positions.
Tooltips provide additional context for each label.
Alert Configuration:
Alerts are generated for each signal condition, ensuring traders are notified promptly.
Users can set up these alerts within TradingView by creating new alerts and selecting the appropriate conditions.
LIMITATIONS
The indicator may lag behind price action due to its use of moving averages and channel calculations 🕒.
False signals can occur in choppy or sideways markets 🌪️.
Users should always confirm signals with other forms of analysis.
NOTES
Ensure that you have sufficient historical data available for accurate calculations.
Test the indicator thoroughly on demo accounts before applying it to live trading 🔍.
Customize the appearance and parameters as needed to fit your trading strategy.
For better risk management, consider integrating stop-loss and take-profit levels into your trading plan.
To optimize performance, manage old labels by deleting them after a certain period to avoid clutter on the chart.