Simple Market Metrics v5How to enter a trade: Wait for a Buy or Sell signal to appear"
If the signal remains when the candle closes, enter the trade with a market or limit order"
How to exit a trade: • Take profit when the price reaches the profit target line"
Stop out of the trade if the white dot remains on the opposite side of the profit wave only when the candle has closed."
If you are in a long trade, and a candle closes with the white dot below the profit wave, close the trade."
What markets can this be traded with? Simple Market Metrics works with any market, but the ES & NQ Futures are the preferred markets to trade this system with."
What candle type should be used? Simple Market Metrics was designed to be used on Heikin Ashi candles."
What are the preferred trading hours? The preferred hours to trade are during the New York session between 10:00am EST and 3:00pm EST."
What timeframe should I trade? The 1 and 2 minute timeframes are preferred with ES & NQ Futures"
What should I set the profit targets to? ES - 1 min: 4 ES - 2 min: 8 • NQ - 1 min: 20 • NQ - 2 min: 40"
How many contracts should I start trading with prop firm accounts? 50k - 5 micros on MES or MNQ 150k - 2 minis on ES or NQ"
Análise Fundamentalista
Draw on Liquidity [PhenLabs]📊 Draw on Liquidity (DOL) Indicator
Version: PineScript™ v6
Description
The Draw on Liquidity (DOL) indicator is an advanced technical analysis tool designed to identify and visualize significant liquidity zones in the market. It combines volume analysis, pivot point detection, and real-time proximity alerts to help traders identify potential support and resistance levels where significant trading activity occurs. The indicator features dual display modes, adaptive volume thresholds, and a comprehensive real-time dashboard.
🔧 Components
• Liquidity Detection: Advanced pivot point analysis with volume validation
• Volume Analysis: Adaptive volume threshold system
• Display Modes: Historical and Current visualization options
• Proximity Detection: Real-time price-to-level distance monitoring
• Visual Dashboard: Dynamic status display with alert system
🚨 Important Dashboard Features 🚨
The dashboard provides real-time information about:
• High Draw Zones: Resistance levels with significant liquidity
• Low Draw Zones: Support levels with high trading activity
• Current Price: Real-time price monitoring
• Active Alerts: Proximity warnings when price approaches liquidity zones
📈 Visualization
• Historical Mode: Displays all past and present liquidity zones
• Current Mode: Shows only active, unhit liquidity levels
• Color-coded lines: Blue for high liquidity, Red for low liquidity
• Dynamic line extension: Updates with price movement
• Alert indicators: Visual signals when price approaches zones
Historical Visualization
Current Visualization
📌 Usage Guidelines
The indicator is highly customizable with several key parameters:
Pivot Settings:
• Shorter lengths (3-7): More frequent zones, suitable for scalping
• Longer lengths (7-15): Major zones, better for swing trading
Volume Analysis:
• Lower multiplier (1.5-2.0): More zones, higher sensitivity
• Higher multiplier (2.0-3.0): Major zones only, reduced noise
✅ Best Practices:
• Start with default settings and adjust based on timeframe
• Use Historical mode for analysis, Current mode for active trading
• Monitor dashboard alerts for potential trade setups
• Combine with trend analysis for better entry/exit points
⚠️ Limitations
• Requires sufficient volume data for accurate analysis
• Performance varies with market volatility
• Historical mode may become visually cluttered on longer timeframes
• Best performance during regular market hours
What Makes This Unique
• Dual Display System: Choose between historical analysis and current trading modes
• Volume-Validated Zones: Only marks levels with significant trading activity
• Real-time Proximity Alerts: Dynamic warnings when approaching liquidity zones
• Adaptive Threshold System: Automatically adjusts to market conditions
• Comprehensive Dashboard: All-in-one view of current market status
🔧 How It Works
The indicator processes market data through three main components:
1. Liquidity Detection (40% weight):
• Identifies pivot points using customizable lookback periods
• Validates levels with volume analysis
• Marks significant zones based on combined criteria
2. Volume Analysis (40% weight):
• Calculates dynamic volume thresholds
• Compares current volume to moving average
• Filters out low-volume noise
3. Proximity Analysis (20% weight):
• Monitors price distance to active zones
• Triggers alerts based on customizable thresholds
• Updates dashboard status in real-time
💡 Note: For optimal results, combine with price action analysis and consider using multiple timeframes for confirmation. The indicator performs best in markets with consistent volume and clear trend structure.
R3v GoldKey Uses of Moving Averages:
Trend Identification: Moving averages help determine the overall market direction. If the price is above the moving average, it suggests an uptrend, while if it’s below, it suggests a downtrend.
Support and Resistance Levels: Prices often respect the moving average as dynamic support or resistance levels. For example, during an uptrend, the price may frequently bounce off the moving average.
Crossovers: A common trading strategy involves two moving averages with different periods, such as a fast EMA (like the 9-period) crossing above a slow SMA (like the 50-period). This crossover can signal a potential buy (bullish crossover) or sell (bearish crossover).
Maestro Trader Bot - Indicador InteligenteDescripción:
El "Maestro Trader Bot" es un indicador avanzado diseñado para guiarte como un mentor experto en cada paso de tu operativa. Este bot inteligente evalúa múltiples indicadores técnicos (EMA, RSI, MACD, Bandas de Bollinger y Volumen) para proporcionarte señales claras y personalizadas basadas en tus posiciones LONG o SHORT .
Características principales:
Señales precisas : Evalúa si el mercado está a favor o en contra de tu posición.
Advertencias en tiempo real : Recibe alertas cuando el sentimiento del mercado cambia y pone en riesgo tu operación.
Mensajes educativos : Aprende mientras operas con explicaciones detalladas sobre por qué el mercado se comporta de cierta manera.
Eliminación automática de etiquetas antiguas : Mantén tu gráfico limpio y organizado.
Indicadores visuales integrados : Incluye EMA, RSI, MACD y Bandas de Bollinger para una interpretación completa del mercado.
¿Cómo funciona?
Configura tu precio de entrada y selecciona si tu posición es LONG o SHORT .
Confirma la entrada y deja que el bot evalúe el mercado en tiempo real.
Recibe mensajes claros y contextuales que te ayudan a tomar decisiones informadas:
Si el mercado apoya tu posición, el bot te animará a mantenerla o ampliarla.
Si el mercado está en contra, recibirás advertencias específicas para ajustar o salir de la operación.
Ejemplo de mensajes:
Sentimiento favorable :
"🎓 MAESTRO TRADER BOT: ¡Excelente decisión! La tendencia alcista es fuerte, el volumen apoya tu posición LONG, y el MACD confirma fuerza alcista. Mantén la posición."
Advertencia en contra :
"⚠️ ADVERTENCIA DEL BOT EXPERTO: El mercado está en contra de tu posición SHORT. La tendencia alcista domina, el volumen es bajo, y el MACD muestra fuerza alcista. Considera reducir tu posición."
Ideal para:
Traders principiantes que buscan aprender mientras operan.
Traders experimentados que desean validar sus decisiones con análisis técnico avanzado.
Cualquier persona que quiera un asistente inteligente para mejorar su rendimiento en el trading.
Optimized Long-Only Strategy (Spot Market) - Candle Signals OnlyThis strategy is designed for long-only trading on the spot market and makes use of a combination of technical indicators to time entries and manage risk
Bull & Bear Run Detector (More Flexible for 1H, 4H, 1D)Bull & Bear Run Detector (More Flexible for 1H, 4H, 1D)
Última Vela de Intervalo con Detalles y RompimientosEste indicador muestra la última vela de un intervalo de tiempo seleccionado (por ejemplo, 1 hora, 4 horas, etc.) en el gráfico actual, con detalles mejorados. Dibuja el cuerpo y las sombras de la vela en un desplazamiento hacia la derecha, utilizando colores para distinguir entre velas alcistas (verde) y bajistas (rojo). Además, traza líneas punteadas para marcar el máximo, mínimo y nivel medio de la vela, junto con etiquetas informativas que muestran los valores exactos de estos niveles.
El indicador también incluye una detección de rompimientos: si el precio actual supera el máximo o mínimo de la última vela del intervalo seleccionado, se dibuja una línea discontinua y una etiqueta que indica un rompimiento alcista o bajista. Esto es útil para identificar posibles oportunidades de trading basadas en movimientos significativos de precio.
Es una herramienta ideal para traders que desean monitorear múltiples intervalos de tiempo en un solo gráfico, combinando claridad visual con información detallada y alertas de rompimientos.
RSI Buy/Sell SignalBuy sell base on RSI 4
Buy when RSI close above 68
Sell when RSI of candle close below 32
Apply for XAUUSD
SMC Trading Checklist with Price Action and Buy/Sell AlertsBUY and SELL Text in Bold:
The plotshape function is used to display the text "BUY" in bold when the conditions for a bullish entry are met, and "SELL" in bold when the conditions for a bearish entry are met.
The textcolor=color.white ensures the text is visible, and size=size.normal adjusts the size for clarity.
Visual Indicators:
The buy and sell signals are visually clear with green for buy and red for sell, along with bold text labels appearing above or below the candles as appropriate.
Alerts with Text:
The alerts now contain messages like "BUY!" or "SELL!" to provide explicit notifications when the signals are triggered.
Outputs:
BUY in bold text will appear when a bullish entry signal occurs.
SELL in bold text will appear when a bearish entry signal occurs.
The background will change to green for bullish and red for bearish entries, adding an extra layer of clarity.
Seasonality Forecast: Predicting Market Trends with HistoricaThis Pine Script indicator analyzes **seasonal price patterns** based on historical data. It calculates **average price movements** over a user-defined lookback period (default: 5 years) and projects them into the future (default: 365 days). The script accounts for **election cycles**, allowing users to filter by election years, pre-election years, or post-election years. It tracks **trading days, weeks, and months**, smoothing the seasonal trend and adjusting for price scale.
Market Cap & Volume Tracker with TrendsMarket Cap & Volume Tracker with Trends
This indicator provides a compact, at-a-glance view of key market data directly on your chart, specifically focusing on Market Cap, Volume, and Volume Trends over various time intervals. It helps traders and investors monitor price action and volume shifts in real-time.
Key Features:
Market Cap: Displays the market capitalization of the selected asset, calculated as the Close Price multiplied by Volume, and formatted in Millions (M).
Volume Data: Shows the volume for:
Pre-market (the volume before the main market session starts)
Current Volume (real-time volume during the current session)
After-hours Volume (volume traded after the market closes)
All volumes are formatted in Thousands (K) for easy readability.
Volume Trends: Monitors volume movement across multiple time intervals:
15-Minutes
30-Minutes
45-Minutes
1 Hour
The indicator tracks whether the volume is Increasing or Decreasing in each of these time frames to help identify trends and potential market shifts.
Customization:
Easily adjustable colors for the table background, text, and header for clear visibility and user preferences.
Option to choose the display position of the table (top or bottom right corner).
Use Case:
This indicator is ideal for traders who want quick insights into the market's activity without the need to look at multiple charts or external data points. It helps spot volume changes and trends over various time frames and supports decision-making for entries, exits, and overall market sentiment.
Ayebale - Trading - Bot (5min Tune)This Pine Script v5 strategy is designed to trade on a 5‑minute timeframe using a combination of technical indicators and session filtering, with enhanced visual feedback through on‐chart tables. Here’s an overview of its main components and functionality:
Input Settings and Visuals:
The script defines color inputs for bullish and bearish signals as well as for fair value gap (FVG) markings.
Parameters such as the ATR period, ATR multiplier for stop-loss, and a series of take-profit (TP) multipliers are adjustable to fine-tune the strategy for short-term (5‑minute) trading.
ATR and Price Levels:
A shorter ATR period is used to calculate volatility, which then determines the stop-loss distance and take-profit levels.
The highest high and lowest low over the last 20 bars are computed to help generate entry signals.
Fair Value Gap (FVG) Detection:
The script checks for conditions where a “gap” exists between previous bars (a bullish or bearish fair value gap).
If a fair value gap is detected, it can trigger entry signals. FVG zones are drawn on the chart with high transparency for subtle visual reference.
Session Timing Based on Nairobi Time (UTC+3):
Session start and end times for London, New York, and Tokyo are defined using the "Africa/Nairobi" timezone.
A helper function determines whether each session is “Ongoing,” “Not Started,” or “Ended” based on the current time, and calculates the remaining time until the next session start.
Trading is enabled only when at least one of these sessions is “Ongoing,” and the strategy is further restricted to weekdays (Monday to Friday).
Entry and Exit Logic:
The strategy generates buy signals when the close crosses over the recent low or when a bullish FVG is identified; conversely, it generates sell signals when the close crosses under the recent high or a bearish FVG is detected.
For each trade signal, the code enters 5 orders (each with varying TP levels calculated using the ATR and TP multipliers) and sets the stop-loss based on the ATR multiplied by the user-defined multiplier.
Trade Information Table (Bottom Right):
A trade information table is created with 2 columns by 9 rows.
Each row is dedicated to a specific trade metric:
Row 0: Trade side (e.g., “BUY NOW” or “SELL NOW”)
Row 1: Entry price
Rows 2–6: Five TP levels (TP1 to TP5)
Row 7: Stop-loss level
Row 8: Timer showing the elapsed time since the trade entry
The table updates dynamically based on trade executions and includes conditional cell background colors (for example, highlighting TP levels when certain conditions are met).
Session Information Table (Top Right):
A separate table displays session information, including the session name, its current status (with dynamic background colors: red for “Ended,” orange for “Not Started,” and dark green for “Ongoing”), and the time remaining in the session.
Overall Strategy Behavior:
The strategy only executes trades when the market is active during one or more of the specified sessions and only on trading days (Monday to Friday).
It is tuned for a 5‑minute chart, with more reactive ATR and TP levels suitable for short-term trading.
This comprehensive script not only defines a technical trading strategy but also provides real-time visual feedback and session-based filtering, making it a robust tool for traders who operate on short timeframes and need clear, dynamic information on trade performance and market sessions.
QoQ Economic & Financial Indicator ChangesA straightforward indicator for analyzing quarter-over-quarter (QoQ) percentage changes in economic and financial data series. Perfect for visualizing dynamic changes in:
Economic Indicators (GDP, House Price Indices, Employment Figures)
Company Financial Metrics (Revenue, EPS, Operating Margins)
Balance Sheet Items (Assets, Liabilities, Equity)
Cash Flow Statement Components
Other Quarterly Economic & Financial Data
Features:
Automatically calculates QoQ percentage changes
Color-coded visualization (green for positive, red for negative changes)
Displays exact percentage values
Includes adjustable scale factor for different data series
Zero line reference for easy trend identification
Earnings Expansion ProjectionThis indicator has no counterpart in the platform and is a professional-grade earnings visualization tool that plots EPS expansion directly on your charts, inspired by institutional-level technical analysis platforms.
The indicator creates a distinctive earnings expansion projection curve that can be a leading indicator of price direction moves.
Key features:
Clean, institutional-style, EPS-expansion projection line overlaid on price action
Visual earnings surprise indicators with beat/miss multipliers
Dashboard for rapid fundamental assessment including the stocks win rate on beatings / missing earnings historically and other fundamental information not readily available on Tradingview
What is it doing?
It collects all earnings results available and will interpolate the numbers so that we see earnings expansion as a curve.
The video below describes usage
Note: Valid on the weekly time-frame only.
RangeLevelsA Range Calculator Indicator is a tool typically used in trading to determine the price range of an asset over a specified period. It calculates the difference between the highest and lowest prices within a set timeframe (e.g., daily, weekly, monthly). This indicator can help traders assess market volatility, identify potential support and resistance levels, and make more informed decisions about entry and exit points. By visualizing the range, traders can better understand price fluctuations and manage risk more effectively. The Range Calculator can be customized to different timeframes and asset types to suit specific trading strategies.
MACD Indicator with Buy and Sell AlertsIntroduction
The MACD Indicator with Alerts & Manual Thresholds is a powerful and customizable MACD-based trading tool designed for traders who want more control over their buy and sell signals. This script allows users to define their own buy and sell thresholds instead of relying solely on standard MACD crossovers. The built-in alerts help traders stay informed about potential trade opportunities without constantly monitoring charts.
How It Works
This script calculates the Moving Average Convergence Divergence (MACD) using customizable fast and slow moving averages. The MACD histogram is derived from the difference between the MACD line and the signal line:
MACD Line: The difference between a fast-moving average (default 12-period EMA) and a slow-moving average (default 26-period EMA).
Signal Line: A smoothed moving average (default 9-period EMA) of the MACD line.
Histogram: The difference between the MACD line and the signal line.
Instead of using default zero-line crossovers, this script allows traders to set custom buy and sell threshold levels:
A buy signal is generated when the MACD histogram crosses above the user-defined buy threshold.
A sell signal is generated when the MACD histogram crosses below the user-defined sell threshold.
Benefits of This Indicator
Custom Thresholds: Unlike traditional MACD indicators, traders can adjust buy and sell thresholds according to their strategy.
Automated Alerts: Get notified instantly when buy or sell conditions are met.
Flexibility in Calculation: Choose between SMA or EMA for both the MACD and signal line calculations.
Clear Visualization: Histogram bars color-coded for quick analysis.
Risks and Limitations
While the MACD indicator is a widely used tool, traders should be aware of its potential risks:
Lagging Indicator: MACD is a trend-following indicator, meaning it may generate signals with some delay.
False Signals in Ranging Markets: MACD works best in trending markets but can produce misleading signals in sideways conditions.
Threshold Optimization Required: Users need to experiment with different buy/sell thresholds to align with their trading strategy and market conditions.
Improving Accuracy with Additional Indicators
For better accuracy and confirmation, combining this MACD strategy with other indicators is recommended:
1. EMA 200 as a Trend Filter
Use the 200-period EMA to determine the overall trend direction.
Consider buying only when price is above EMA 200 (uptrend) and selling only when price is below EMA 200 (downtrend).
2. RSI (Relative Strength Index) for Overbought/Oversold Conditions
RSI (14) can help filter false MACD signals.
A MACD buy signal is stronger when RSI is below 30 (oversold condition).
A MACD sell signal is more reliable when RSI is above 70 (overbought condition).
3. Support & Resistance Levels
Consider placing trades near major support or resistance zones to avoid chasing breakouts.
MACD signals are more effective when they align with these key price levels.
Conclusion
The MACD Indicator with Alerts & Manual Thresholds offers a flexible and powerful approach to trading by allowing users to define their own thresholds. However, for best results, it should be combined with additional indicators such as EMA 200, RSI, and support/resistance levels. Traders should backtest and optimize settings to suit their market conditions and trading style.
By using this indicator alongside proper risk management techniques, traders can enhance their decision-making process and improve their overall trading performance.
Happy Trading!
Candle Color Based on TimeThis Pine Script indicator highlights ETH session candles with a user-specified color, allowing traders to distinguish between ETH and RTH sessions without switching charts. It provides a clearer visual separation compared to session boxes. The RTH session hours are also customizable in the settings, ensuring flexibility for different market hours if the trader wishes to do so.
AyebaleJohnBob-Trading-BotAyebale John Bob - Trading-Bot Overview:
This trading strategy is designed to automate trades based on the "Smart Money Concepts" and "Fair Value Gaps" (FVG). The bot leverages multiple technical indicators and logic to execute buy and sell trades with dynamic stop-loss and take-profit (TP) levels.
Key Features:
User Inputs:
Bull & Bear Colors: Customizable colors for bullish and bearish trends.
Fair Value Gap (FVG) Color: Customizable color for visualizing FVG zones.
ATR Multiplier: Defines the sensitivity of stop-loss calculations based on Average True Range (ATR).
Take-Profit Multipliers: A set of five multipliers that scale take-profit levels dynamically.
Trade Signals:
Buy Signal: Generated when the price crosses above a certain low or when a bullish Fair Value Gap (FVG) is detected.
Sell Signal: Triggered when the price crosses below a high or when a bearish FVG is identified.
Stop-Loss & Take-Profit Logic:
Stop-loss levels are calculated using ATR and the specified multiplier.
Take-profit levels are dynamically determined based on the ATR multipliers, with five different levels for each trade.
Trade Execution:
The strategy allows for five simultaneous buy or sell entries, with each having its own take-profit and stop-loss levels.
The bot operates continuously, without any session restrictions, allowing trades at any time.
Visual Indicators:
Entry Signals: Visual shapes (green for buy and red for sell) appear on the chart to indicate entry points.
Progress Bar: A real-time progress bar is plotted, tracking the percentage gain/loss from the entry price.
Trade Information Table:
A dynamic table is used to display important trade information, including entry price, take-profit levels, and stop-loss. This table updates for each new trade (buy or sell), and shows real-time trade progress.
Risk Management:
The stop-loss is dynamically adjusted based on the ATR calculation, ensuring that the bot adapts to changing market volatility.
Take-profit levels are spread across five increments, offering multiple opportunities for profit capture.
Summary:
The Ayebale John Bob - Trading-Bot is designed to implement a sophisticated strategy that combines smart money concepts, fair value gap analysis, and robust risk management. It provides real-time trade information, progress tracking, and a flexible approach to stop-loss and take-profit strategies. The bot is ideal for traders looking to automate trades and visually track their progress directly on the chart.
Global M2 Index Percentage### **Global M2 Index Percentage**
**Description:**
The **Global M2 Index Percentage** is a custom indicator designed to track and visualize the global money supply (M2) in a normalized percentage format. It aggregates M2 data from major economies (e.g., the US, EU, China, Japan, and the UK) and adjusts for exchange rates to provide a comprehensive view of global liquidity. This indicator helps traders and investors understand the broader macroeconomic environment, identify trends in money supply, and make informed decisions based on global liquidity conditions.
---
### **How It Works:**
1. **Data Aggregation**:
- The indicator collects M2 data from key economies and adjusts it using exchange rates to calculate a global M2 value.
- The formula for global M2 is:
\
2. **Normalization**:
- The global M2 value is normalized into a percentage (0% to 100%) based on its range over a user-defined period (default: 13 weeks).
- The formula for normalization is:
\
3. **Visualization**:
- The indicator plots the M2 Index as a line chart.
- Key reference levels are highlighted:
- **10% (Red Line)**: Oversold level (low liquidity).
- **50% (Black Line)**: Neutral level.
- **80% (Green Line)**: Overbought level (high liquidity).
---
### **How to Use the Indicator:**
#### **1. Understanding the M2 Index:**
- **Below 10%**: Indicates extremely low liquidity, which may signal economic contraction or tight monetary policy.
- **Above 80%**: Indicates high liquidity, which may signal loose monetary policy or potential inflationary pressures.
- **Between 10% and 80%**: Represents a neutral to moderate liquidity environment.
#### **2. Trading Strategies:**
- **Long-Term Investing**:
- Use the M2 Index to assess global liquidity trends.
- **High M2 Index (e.g., >80%)**: Consider investing in risk assets (stocks, commodities) as liquidity supports growth.
- **Low M2 Index (e.g., <10%)**: Shift to defensive assets (bonds, gold) as liquidity tightens.
- **Short-Term Trading**:
- Combine the M2 Index with technical indicators (e.g., RSI, MACD) for timing entries and exits.
- **M2 Index Rising + RSI Oversold**: Potential buying opportunity.
- **M2 Index Falling + RSI Overbought**: Potential selling opportunity.
#### **3. Macroeconomic Analysis**:
- Use the M2 Index to monitor the impact of central bank policies (e.g., quantitative easing, rate hikes).
- Correlate the M2 Index with inflation data (CPI, PPI) to anticipate inflationary or deflationary trends.
---
### **Key Features:**
- **Customizable Timeframe**: Adjust the lookback period (e.g., 13 weeks, 26 weeks) to suit your trading style.
- **Multi-Economy Data**: Aggregates M2 data from the US, EU, China, Japan, and the UK for a global perspective.
- **Normalized Output**: Converts raw M2 data into an easy-to-interpret percentage format.
- **Reference Levels**: Includes key levels (10%, 50%, 80%) for quick analysis.
---
### **Example Use Case:**
- **Scenario**: The M2 Index rises from 49% to 62% over two weeks.
- **Interpretation**: Global liquidity is increasing, potentially due to central bank stimulus.
- **Action**:
- **Long-Term**: Increase exposure to equities and commodities.
- **Short-Term**: Look for buying opportunities in oversold assets (e.g., RSI < 30).
---
### **Why Use the Global M2 Index Percentage?**
- **Macro Insights**: Understand the broader economic environment and its impact on financial markets.
- **Risk Management**: Identify periods of high or low liquidity to adjust your portfolio accordingly.
- **Enhanced Timing**: Combine with technical analysis for better entry and exit points.
---
### **Conclusion:**
The **Global M2 Index Percentage** is a powerful tool for traders and investors seeking to incorporate macroeconomic data into their strategies. By tracking global liquidity trends, this indicator helps you make informed decisions, whether you're trading short-term or planning long-term investments. Add it to your TradingView charts today and gain a deeper understanding of the global money supply!
---
**Disclaimer**: This indicator is for informational purposes only and should not be considered financial advice. Always conduct your own research and consult with a professional before making investment decisions.
Enhanced Ultimate Gold Trading Indicatorplease make changes in scrip make it version 6
Sure! Let's update the script to Pine Script version 5 and make the necessary refinements for trading XAU/USD. I'll keep the buy and sell signals as specified.
Enhanced Ultimate Gold Trading Indicator (Pine Script v5)
pinescript
//@version=5
indicator("Enhanced Ultimate Gold Trading Indicator", shorttitle="EUGTI", overlay=true)
// Define MACD settings
macdShort = 12
macdLong = 26
macdSignal = 9
// Calculate MACD
= ta.macd(close, macdShort, macdLong, macdSignal)
// Calculate EMAs
ema50 = ta.ema(close, 50)
ema100 = ta.ema(close, 100)
// Calculate RSI
rsi = ta.rsi(close, 14)
// Calculate Bollinger Bands
bbBasis = ta.sma(close, 20)
bbUpper = bbBasis + 2 * ta.stdev(close, 20)
bbLower = bbBasis - 2 * ta.stdev(close, 20)
// Calculate VWAP
vwap = ta.vwap(close)
// Volume Profile calculations
vp = volume * close
// Additional Indicator: ATR (Average True Range) for volatility
atr = ta.atr(14)
// Buy signal: MACD line crosses above signal line, 50-day EMA crosses above 100-day EMA, RSI is below 30, price is at or near the lower Bollinger Band, price is above VWAP, and ATR is increasing
buySignal = ta.crossover(macdLine, signalLine) and ta.crossover(ema50, ema100) and rsi < 30 and close <= bbLower and close > vwap and atr > ta.atr(14)
// Sell signal: MACD line crosses below signal line, 50-day EMA crosses below 100-day EMA, RSI is above 70, price is at or near the upper Bollinger Band, price is below VWAP, and ATR is increasing
sellSignal = ta.crossunder(macdLine, signalLine) and ta.crossunder(ema50, ema100) and rsi > 70 and close >= bbUpper and close < vwap and atr > ta.atr(14)
// Plot MACD lines
plot(macdLine, color=color.blue, title="MACD Line")
plot(signalLine, color=color.orange, title="Signal Line")
// Plot EMAs
plot(ema50, color=color.green, title="50-Day EMA")
plot(ema100, color=color.red, title="100-Day EMA")
// Plot Bollinger Bands
plot(bbBasis, color=color.purple, title="BB Basis")
plot(bbUpper, color=color.purple, title="BB Upper")
plot(bbLower, color=color.purple, title="BB Lower")
// Plot VWAP
plot(vwap, color=color.yellow, title="VWAP")
// Plot Buy and Sell signals
plotshape(series=buySignal, location=location.belowbar, color=color.green, style=shape.labelup, text="Buy")
plotshape(series=sellSignal, location=location.abovebar, color=color.red, style=shape.labeldown, text="Sell")
Explanation:
MACD Calculation: The MACD line is the difference between the 12-period EMA and the 26-period EMA, with a 9-period EMA signal line.
Exponential Moving Averages (EMA): The 50-day and 100-day EMAs identify long-term trends.
RSI: Identifies overbought and oversold conditions for better entry and exit timing.
Bollinger Bands: Indicate price extremes and volatility.
VWAP: Shows the average price weighted by volume, providing additional confirmation.
Average True Range (ATR): Measures market volatility. Increasing ATR indicates higher volatility, which can confirm strong price movements.
Buy Signal: Triggered when the MACD line crosses above the signal line, the 50-day EMA crosses above the 100-day EMA, the RSI is below 30 (oversold), the price is at or near the lower Bollinger Band, the price is above VWAP, and the ATR is increasing.
Sell Signal: Triggered when the MACD line crosses below the signal line, the 50-day EMA crosses below the 100-day EMA, the RSI is above 70 (overbought), the price is at or near the upper Bollinger Band, the price is below VWAP, and the ATR is increasing.
How to Use:
Buy Signal: Consider entering a long position (buying gold) when you see a green "Buy" signal.
Sell Signal: Consider exiting a long position or entering a short position (selling gold) when you see a red "Sell" signal.
RSI & RSI-MA Buy-Sell IndicatorThe RSI & RSI-MA Buy-Sell Indicator is a technical analysis tool designed to identify potential trading opportunities based on the Relative Strength Index (RSI) and its moving average (RSI-MA). The indicator provides clear buy and sell signals when specific conditions are met, helping traders make informed decisions.
How It Works
This indicator is based on two main components:
Relative Strength Index (RSI): Measures the strength and momentum of price movements.
RSI Moving Average (RSI-MA): A simple moving average of RSI values, used to smooth out volatility and confirm trends.
Trading Signals:
A buy signal occurs when the RSI crosses above 70 after previously being below 30, and the RSI-MA is above a predefined threshold.
A sell signal is generated when the RSI crosses below 30 after previously being above 70, and the RSI-MA is below the threshold.
Visual labels for "BUY" and "SELL" appear on the RSI chart rather than the price chart, making it easier to interpret the signals.
Alerts can be set to notify traders when a buy or sell condition is met.
Benefits of the Indicator
Clear Trading Signals: The indicator removes subjectivity by providing distinct buy and sell signals.
Enhanced Trend Confirmation: RSI-MA helps validate RSI movements, reducing false signals.
Customizable Inputs: Traders can adjust the RSI period, RSI-MA period, and reference level based on their strategy.
Efficient for Momentum Trading: Works well in volatile markets where RSI movements are pronounced.
Compatible with Alerts: Can send notifications when trading conditions are met, allowing traders to act swiftly.
Risks & Limitations
False Signals in Sideways Markets: RSI can generate misleading signals when the market lacks a clear trend.
Lagging Nature of Moving Averages: RSI-MA may cause a delay in signal generation compared to RSI alone.
Market Conditions Dependency: Works best in trending markets but may be unreliable during low volatility.
Not a Standalone Strategy: Should be used in conjunction with other indicators, fundamental analysis, and risk management techniques.
Overbought/Oversold Assumptions: Just because RSI reaches extreme levels doesn’t guarantee a reversal—prices can remain overbought/oversold for extended periods.
Conclusion
The RSI & RSI-MA Buy-Sell Indicator is a powerful tool for identifying momentum shifts and potential trade setups. However, like all technical indicators, it has limitations and should be used alongside other analysis techniques. Traders must implement proper risk management and avoid relying solely on RSI signals for trading decisions. With careful usage, this indicator can help enhance decision-making and improve trade timing in dynamic markets.
Auto Last Earnings AVWAP
This script provides an automated approach to tracking critical post-earnings price levels. You can add it to a chart and then flip through your watchlist to see the anchored AVWAPs without the need to do it manually one by one.
Core Features:
Automatically detects earnings dates and anchors VWAP calculations without manual input
Calculates volume-weighted average price specifically from the last earnings release
Identifies and visualizes significant earnings gaps between reporting periods
Volume-Based Signal Detection:
Monitors VWAP crosses with volume confirmation (requires 1.5x normal volume)
Labels high-volume breakouts with clear directional signals
Uses a 6-bar adaptive volume baseline to filter out noise
Practical Applications:
AVWAP anchored at earnings offers a great price support level that should be considered when deciding to buy/sell the stock. This script eliminates manual VWAP anchoring and reduces chart management time
Key Differentiators:
First note: coding VWAP anchoring in pine is more challenging that one would think. The source code is open to help other users and hopefully inspire different applications.
No need to manually anchor the VWAP
Draws earnings gap from earnings to earnings (if auto mode)
Detects breakouts through the AVWAP line
SCALPING STRATEGY//@version=5
strategy("High Probability Scalping Strategy", overlay=true)
// Indicators
emaFast = ta.ema(close, 9)
emaSlow = ta.ema(close, 21)
vwap = ta.vwap(close)
=
macdLine = ta.ema(close, 12) - ta.ema(close, 26)
signalLine = ta.ema(macdLine, 9)
bbMiddle = ta.sma(close, 20)
bbUpper = bbMiddle + (ta.stdev(close, 20) * 2)
bbLower = bbMiddle - (ta.stdev(close, 20) * 2)
// Buy Entry Conditions
buyCondition = ta.crossover(emaFast, emaSlow) and close > vwap and rsiValue > rsiSignal and macdLine > signalLine
if (buyCondition)
strategy.entry("Long", strategy.long)
// Sell Entry Conditions
sellCondition = ta.crossunder(emaFast, emaSlow) and close < vwap and rsiValue < rsiSignal and macdLine < signalLine
if (sellCondition)
strategy.entry("Short", strategy.short)
// Stop Loss & Take Profit
strategy.exit("Exit Long", from_entry="Long", loss=10, profit=20)
strategy.exit("Exit Short", from_entry="Short", loss=10, profit=20)
