Absolute Strength Index Oscillator [LazyBear]This oscillator is derived from Absolute Strength Index, originally developed by Tudor Marcelin (Art Invest).
I made it an oscillator mainly to make it easy to identify the divergences and price-flows. There is not much documentation available online for Absolute Strength Index afaik, lets hope Mr.Tudor comes across this and provides us a detailed writeup :)
Quick testing showed lots of good signals (with minimal lag). Let me know what you guys find in your testing.
Indicator options support coloring bars based on the oscillator/signal values, and a histogram-only mode.
List of my public indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
Lazybear
Composite Momentum Index [LazyBear]This is a composite oscillator derived from modified 5/10/20 Chande's Dynamic Momentum Index values.
Volatility is factored in, by design. Look for OB/OS extremes and divergences.
I added the green/red ribbon look to make it easy to read :)
More info:
www.investopedia.com
List of my public indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
High-Low Index [LazyBear]-- Fixed ---
Source: pastebin.com
Fixes an issue with "Combined" mode, using wrong symbols.
--- Original ---
The High-Low Index is a breadth indicator based on Record High Percent, which is based on new 52-week highs and new 52-week lows.
Readings below 50 indicate that there were more new lows than new highs. Readings above 50 indicate that there were more new highs than new lows. 0 indicates there were zero new highs (0% new highs). 100 indicates there was at least 1 new high and no new lows (100% new highs). 50 indicates that new highs and new lows were equal (50% new highs).
Readings consistently above 70 usually coincide with a strong uptrend. Readings consistently below 30 usually coincide with a strong downtrend.
More info:
stockcharts.com
List of my public indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
Just noticed @Greeny has already published this -> Linking it here.
Zweig Market Breadth Thrust Indicator [LazyBear]The Breadth Thrust (BT) indicator is a market momentum indicator developed by Dr. Martin Zweig. According to Dr. Zweig a Breadth Thrust occurs when, during a 10-day period, the Breadth Thrust indicator rises from below 40 percent to above 61.5 percent.
A "Thrust" indicates that the stock market has rapidly changed from an oversold condition to one of strength, but has not yet become overbought. This is very rare and has happened only a few times. Dr. Zweig also points out that most bull markets begin with a Breadth Thrust.
All parameters are configurable. You can draw BT for NYSE, NASDAQ, AMEX or based on combined data (i.e., AMEX+NYSE+NASD). There is also a "CUSTOM" mode supported, so you can enter your own ADV/DEC symbols.
More info:
Definition: www.investopedia.com
A Breadth Thrust Signal: www.mcoscillator.com
A Rare "Zweig" Buy Signal: www.moneyshow.com
Zweig Breadth Thrust: recessionalert.com
List of my public indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
Firefly Oscillator [LazyBear]This is a modified version of a public Amibroker indicator, called Firefly.
I disabled the additional smoothing (you can enable it via options page) and updated the visual rendering (simple 3D look, histo, bar colors et al). Also, have added an option to show enclosing BB.
You can trade this like any other oscillator -- 80/20 OB/OS levels, divergences, ...
Here's a chart showing some possible customizations that are supported:
Do let me know what you guys think.
List of my public indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
CCT StochRSI [LazyBear]CCT StochRSI, proposed by Steve Karnish of Cedar Creek Trading, reconfigures classic StochRSI using custom parameters and smoothing.
There are 6 types supported.
Common formula:
(rsi - lowest(rsi, x)) / (highest(rsi, y) - lowest(rsi, z)) * 100
Smoothed formula:
ema(common formula result, len)
Settings (values for x/y/z/len in the above formulae):
Type 1: RSILength=21, x=8, y=13, z=13, len=N/A
Type 2: RSILength=21, x=21, y=21, z=21, len=N/A
Type 3: RSILength=14, x=14, y=14, z=14, len=N/A
Type 4: RSILength=21, x=13, y=8, z=13, len=8
Type 5: RSILength=5, x=5, y=5, z=5, len=3
Type 6: RSILength=13, x=13, y=13, z=13, len=3
Apart from these default types, this also supports user-specified custom type (select "0" for "Type" option).
All 6 types:
CCT StochRSI compared against normal StochRSI:
List of my public indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
Impulse MACD [LazyBear]Impulse MACD is a modified MACD, formed by filtering out the values in a MA range (region between MAs of high and low), thereby reducing whipsaw typical in a sideways market. This is usually plotted as histogram. This also plots the traditional histogram (MACD - Signal), to help in finding entries/exits.
Use this like a traditional MACD (Zero line crossing or Signal crossing).
Colors legend:
Impulse MACD: Possible colors => Lime / Green / Orange / Red, based on the ImpulseMACD position with respect to MidLine and Signal.
Impulse MACD Signal: Maroon line.
Blue histogram: (ImpulseMACD - Signal).
List of my public indicators : bit.ly
List of my app-store indicators : blog.tradingview.com
Range Identifier [LazyBear] ---- May 05 2015 -----
Added support for filtered ranges:
RID V3 : pastebin.com
RIDv3 has full backward compatibility (!?), meaning all my descriptions below still apply for V3.
-- In addition, I have added a NON-OVERLAY mode, which can be put in its own pane, that shows the number of bars in the current range.
-- in Overlay mode, you can switch on/off filtering ranges based on the bar count.
Sample chart:
---- April 30 2015 -----
Updated the source to show a connected Midline only when ConnectRanges option is enabled.
Updated src: pastebin.com
Sample chart:
---- Original Desc ----
This is a simple indicator that highlights the price ranges. Very helpful in determining a breakout.
There are many ways to incorporate this in to your strategy. One simple idea could be to buy if the price breaks above a range, when above the specified EMA, and to SELL when it breaks down from a range below the EMA.
All options are configurable. Alerts can be setup using the specified plot names.
By default it shows only the ranges, but can be configured to show the full "channel". Chart below shows connected ranges with highlights ON.
Range highlighting can be turned OFF. Chart below shows that:
Note for the pine coders:
As you probably noticed in the charts above, single range is showing 2 colors(red/green). Fill() doesn't accept a series for colors, so I worked around this using two fill() statements with a moving DUMMY line, to get this mixed color effect.
List of my public indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
KK_Traders Dynamic Index_Bar HighlightingHey guys,
this is one of my favorite scripts as it represents a whole trading system that has given me very good results!
I have only used it on Bitcoin so far but I am sure it will also work for other instruments.
The original code to this was created by LazyBear, so all props to him for this great script!
I have linked his original post down below.
You can find the full rules to the system in this PDF (which has also been taken from LBs post):
www.forexmt4.com
Here is a short summary of the rules:
Go long when (all conditions have to be met):
The green line is above 50
The green line is above the red line
The green line is above the orange line
The close is above the upper Band of the Price Action Channel
The candles close is above its open
(The green line is below 68)
Go short when (all conditions have to be met):
The green line is below 50
The green line is below the red line
The green line is below the orange line
The close is below the lower band of the Price Action Channel
The candles close is below its open
(The green line is above 32)
Close when:
Any of these conditions aren't true anymore.
I have marked two of the rules in brackets as they seem to cut out a lot of the profits this system generates. You can choose to still use these rules by checking the box that says "Use Original Ruleset" in the options.
The system also contains rules regarding the Heiken Ashi bars. However these aren't as specific as the other rules. This is where your personal judgement comes in and this part is hard to explain. Take a look at the PDF I have linked to get a better understanding.
So far, this is just the TDI trading system and LBs script, now what have I changed?
I have incorporated the Price Action Channel to the system and changed it so that it highlights the bars whenever the system is giving a signal. As long as the bars are green the system is giving a long signal, as long as they are red the system is giving a short signal. Keep in mind that this doesn't consider the bar size of the HA bars. I recommend coloring all bars grey via the chart settings in order to be able to see the bar highlighting properly.
I have also published the Price Action Channel seperately in case some of you wish to view the Channel.
I am fairly new to creating scripts so use it with caution and let me know what you think!
LBs original post:
The seperate Price Action Channel script:
KK_Price Action Channel (TDI BH)Hey guys,
this little script is an addition to another one I will release right after this.
This is the Price Action Channel. The bands are calculated using a smoothed moving average of the highs/lows. I have taken the smoothed moving average script from the public library in order to create this, so all props to whoever created that one.
I am fairly new to creating scripts so use it with caution and let me know what you think!
EDIT: Here is the script I have written this one for:
JMA RSX Clone [LazyBear]RSX is a "noise free" version of RSI, with no added lag. This is a port of a clone to Pine.
Use this indicator just like RSI. I have set the default length to 14, feel free to experiment. You can reduce length with out worrying about jaggedness.
Options page has all the configurable parameters. You can use the plot names to setup alerts.
I have couple of more indicators built using this, will post them later. Let me know what you think about this indicator.
RSX Clone compared to normal RSI:
Smoothness helps a lot in identifying the divergences correctly:
More info:
www.jurikres.com
List of my public indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
Pip collector [LazyBear]A simple but effective Forex strategy requested by user @pipcollector.
Suggested chart timeframe is 5mins.
Indicator marks potential long/short entries based on the following conditions:
LONG
------
Price above pip median ema on daily, 4 hour and 1 hour timeframe. These 3 timeframes and median EMA lengths are configurable.
Background color is set to GREEN (if option is enabled).
As soon as price touches or crosses the median ema, a GREEN arrow is shown to mark potential long.
SHORT
------
Price below pip median ema on daily, 4 hour and 1 hour timeframe. These 3 timeframes and median EMA lengths are configurable.
Background color is set to RED (if option is enabled).
As soon as price touches or crosses the median ema, a RED arrow is shown to mark potential short.
NO SETUP
-----------
Moving averages do not align on the 3 timeframes.
Background color is set to GRAY (if option is enabled)
I have noticed that this works well on other instruments too (anything trending), also on higher time frames. Feel free to leave any questions/comments on this below.
List of my public indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
Belkhayate Timing [LazyBear]--- Update April 11, 2015 ----
I have merged in @TheMighyChicken's code (Thanks!) and added some more options. Updated source here - pastebin.com
Changes:
--------------
- Switch between plain candles and colored oscillator candles.
- Switch between candles and plain oscillator view.
--- Original Description ---
Belkhayate Timing, by Mostafa Belkhayate, is very famous in the Forex groups. This is a port from one of the MT4 versions available. If you have used this in other platforms, do let me know if this looks compared to those.
The usage is similar to that of ValueChart (). The middle area is the centroid or neutral area, the shaded regions (red/green) are extreme and beyond those are AlertZones. This seems to be used in conjunction with his other indicators, but, in my limited testing, I have seen this give a lot of good signals, especially on divergences.
Indicator allows coloring bars based on the oscillator position or show oscillator histogram (Check the options page).
Histogram=ON:
No Oscillator Smoothing:
@TheMightyChicken Can you do your candle magic on this oscillator too, just like you did for ValueChart? :)
More Info:
www.forexfactory.com
List of my public indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
Volume Accumulation Percentage Indicator [LazyBear]Volume Accumulation Percentage Indicator (VAPI) is a variation of the classic volume-accumulation indicators. It uses volume the same way as OBV except that it assigns volume weights based on intraday volatility.
In a positive trend, if the stock price is close to a (local) new high, the VAPI should be at its maximum as well (and vice versa for a negative trend). If the market is looking for a direction, if the price is in the bottom side of his current trading range and if, at the same moment the VAPI osc slopes up, there is accumulation on the stock and that the prices should start to climb. The SELL signal is given when the VAPI decreases (distribution). Divergences are usually very effective too.
Tuning the "length" parameter may be needed for your instrument (default is 10), do let me know if you find a different value to be optimal for majority of instruments.
List of my public indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
Cycle Channel Oscillator [LazyBear]Here's an oscillator derived from my previous script, Cycle Channel Clone ().
There are 2 oscillator plots - fast & slow. Fast plot shows the price location with in the medium term channel, while slow plot shows the location of short term midline of cycle channel with respect to medium term channel.
Usage of this is similar to %b oscillator. The slow plot can be considered as the signal line.
Bar colors can be enabled via options page. When short plot is above 1.0 or below 0, they are marked purple (both histo and the bar color) to highlight the extreme condition.
This makes use of the default 10/30 values of Cycle Channel, but may need tuning for your instrument.
More info:
List of my free indicators: bit.ly
List of my app-store indicators: blog.tradingview.com (More info: bit.ly)
Hurst Cycle Channel Clone [LazyBear]Cycle Channel is loosely based on Hurst's nested channels. Basic idea is to identify and highlight the shorter cycles, in the context of higher degree cycles.
This indicator plots the shorter term (red) & medium term (green) cycles as channels. Some things to note:
As you can see the red channel keeps moving with in the bounds of green channel. When green breaches red channel, it usually signifies extreme market condition.
Both red & green channels provide support/resistance levels. Also, the green channel provides S/R levels to the inner red channel.
Movement of red channel with reference to green highlights reversal points, reducing momentum et al. For ex., point "(x)" in the chart shows how red channel failed to reach the upper green channel line and highlighted the local top.
Use this just like other bands/channels. I have more indicators derived from this idea, will post them later.
Some more examples:
---------------------------------
MSFT 1M:
DXY 1M:
IWM 1M:
More info:
------------
cyclicwave.blogspot.com
List of my free indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
(Support doc: bit.ly)
Insync Index [LazyBear]BB Support + Histo mode
-------------------------------
Code: pastebin.com
Show enclosing BB
Show Insync as Histo:
v02 - Configurable levels
---------------------------------
Small update to allow configuring the 95/75/25/5 levels.
Latest source code: pastebin.com
v01 - orginal description
---------------------------------
Insync Index, by Norm North, is a consensus indicator. It uses RSI, MACD, MFI, DPO, ROC, Stoch, CCI and %B to calculate a composite signal. Basically, this index shows that when a majority of underlying indicators is in sync, a turning point is near.
There are couple of ways to use this indicator.
- Buy when crossing up 5, sell when crossing down 95.
- Market is typically bullish when index is above 50, bearish when below 50. This can be a great confirmation signal for price action + trend lines.
Also, since this is typical oscillator, look for divergences between price and index.
Levels 75/25 are early warning levels. Note that, index > 75 (and less than 95) should be considered very bullish and index below 25 (but above 5) as very bearish. Levels 95/5 are equivalent to traditional OB/OS levels.
The various values of the underlying components can be tuned via options page. I have also provided an option to color bars based on the index value.
More info: The Insync Index by Norm North, TASC Jan 1995
drive.google.com
List of my free indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
(Support doc: bit.ly)
McClellan Summation Index [LazyBear]McClellan Summation Index is a breadth indicator derived from McClellan Oscillator ().
The Summation Index is simply a running total of the McClellan Oscillator values. Even though it is called a Summation Index, the indicator is really an oscillator that fluctuates above/below zero. As such, signals can be derived from bullish/bearish divergences, directional movement and centerline crossovers. A moving average can also be applied to identify upturns and downturns.
Indicator uses the advancing/declining stocks from NYSE by default, but you can change them to any market in the options dialog.
More info:
- www.mcoscillator.com
- stockcharts.com
Complete list of my indicators:
docs.google.com
McClellan Oscillator [LazyBear]Developed by Sherman and Marian McClellan, the McClellan Oscillator is a breadth indicator derived from Net Advances, the number of advancing issues less the number of declining issues. Subtracting the 39-day exponential moving average of Net Advances from the 19-day exponential moving average of Net Advances forms the oscillator.
As the formula reveals, the McClellan Oscillator is a momentum indicator that works similar to MACD.
McClellan Oscillator signals can be generated with breadth thrusts, centerline crossovers, overall levels and divergences.
I have added the following options:
- Can choose Advancing/Declining issues of any market. Default is NYSE.
- Can show the EMAs and/or oscillator.
- Ratio Adjusted Calculation mode (as explained in the stockcharts link below) or default mode.
- Can use custom timeframe. Default is chart timeframe.
More info:
stockcharts.com
Complete list of my indicators:
docs.google.com
Thanks @mpinky for pointing out the StockCharts version of this oscillator.
Mirrored MACD [LazyBear]This is a famous indicator I have seen used by many Forex traders in MT4 platform. This indicator uses the difference between EMA of "close" and EMA of "open" to form the oscillator lines (not just a convergence/divergence calculation between EMA of "close")
Current market state is determined by which histogram is above zero line. For more confirmation, wait for it to cross above Signal line too. Crossing down the signal or zeroline should be the exit condition. Also, look for divergences.
Use plot labels BullHisto/BearHisto/BearLine/BullLine/ZeroLine/Signal for setting up alerts.
Complete list of my indicators:
-----------------------------
docs.google.com
LBR Paintbars [LazyBear]
Added coloring of LB bars above/below Keltner Channel (as suggested by user @20813 below in the comments).
Updated code: pastebin.com
See comments section below for a sample chart. Copy the code from the pastebin above and update your local copy (TV doesn't allow me to update an already published code -- yet!).
Added features:
- Switch ON/OFF KC
- Mark LB bars above/below KC
----------------------------------------------------------------------
The LBR PaintBars indicator changes the colour of the price bars based on the trend direction (derived from price & volatility bands). This is mostly used as a confirmation indicator.
For the Pine coders: I suggest trying stdev() in lieu of atr()...some wild combinations can be derived from this simple idea :)
Indicator supports the following options:
- Switching on/off volatility bands
- Switching on/off LBR colors (lime/maroon).
- Color non-LBR bars (blue).
Thanks @mseaworthy for pinging me with this idea.
Complete list of my indicators:
-----------------------------
docs.google.com
Price Volume Rank [LazyBear]Price-Volume Rank, designed by Anthony J. Macek, compares the direction of the change in price (up or down) to the direction of the change in volume and assigns a number to that specific relationship. By quantifying price/volume interaction, P-V rank seeks to determine our position within a typical market cycle.
The various modes shown on the chart above or explained below. Also, read on for a little trick using the new Pine feature that you can use in your script.
How to read the PVR?
-------------------
The most desirable market condition occurs when both price and volume are moving up, that phenomenon is assigned a PVR of 1.
The next most desirable condition, when prices are still moving up but volume is diminishing, is given a PVR of 2. Although still technically healthy, this relationship between price and volume issues a warning that market momentum is weakening.
The worst-case scenario, seen when selling pressure is greatest with prices dropping and volume
increasing, is given PVR's weakest designation, 4.
Finally, even though prices are still moving down, volume begins to diminish as selling pressure abates. This price/volume relationship is assigned a PVR of 3, often alerting us to a potential buying opportunity ahead.
What do the modes mean?
----------------------
1) Histogram Mode: This plots PVR along with helpful ranges. Be careful when PVR is trending at turn-around points.
2) MA Crossover Mode: This plots a slow/fast MA of PVR. Default is 5/10 SMA. Buy is signalled when slow MA falls below fast MA. Sell is signalled when slow MA crosses up fast MA. There is a warning line at 2.5 that can be used for more confirmation.
3) Double Smoothed Crossover Mode: Same as MA crossover, but PVR is smoothed more. Warning line (2.5 level) is very useful in this mode. Use slow MA as the signal and fast MA of PVR for tracking the market.
Misc notes:
-----------
This won't work for Forex and other instruments for which TradingView doesn't expose volume. Thanks to the new Text rendering feature of PlotShape(), I can actually let users know of that :) Good use-case, eh? I will post a sample chart below in the comments.
Feel free to use any part of this code in your indicators.
More info:
--------
Stocks & Commodities V. 12:6 (235-239): Price-Volume Rank by Anthony J. Macek
Complete list of my indicators:
-----------------------------
docs.google.com
Volatility Switch Indicator [LazyBear]The Volatility Switch (VOLSWITCH) indicator, by Ron McEwan, estimates current volatility in respect to historical data, thus indicating whether the market is trending or in mean reversion mode. Range is normalized to 0 - 1.
When Volatility Switch rises above the 0.5 level, volatility in the market is increasing, thus the price action can be expected to become choppier with abrupt moves. When the indicator falls below the 0.5 level from recent high readings, volatility decreases, which may be considered a sign of trend formation.
Trading strategy as suggested by Ron McEwan is:
- If VOLSWITCH is less than 0.5, volatility decreases, which may be considered a sign of trend formation
- If VOLSWITCH is greater than 0.5, market is in high volatility mode. Can be choppy. Use RSI to look for OB/OS levels.
I have implemented support for 2 lengths (14 and 21) Note that, Pine doesn't support loops. Once it is introduced, I will publish an updated version.
Building a strategy out of this is straightforward (refer to my strategy explanation above), I strongly encourage new Pinescript coders to try to a plotarrow() based overlay indicator to get more familiar with Pine.
More info:
---------
The Volatility (Regime) Switch Indicator : traders.com
Complete list of my indicators:
-------------------------------------
docs.google.com
