Overbought
Function StochRSI Stochastic Relative Strength Index developed by Tushar Chande and Stanley Kroll.
This script has been written to eliminate the period variable.(Integer)
Thus, it can be used comfortably in adaptive period scripts ! (For example : Adaptive Moving Average , KAMA , FAMA .. etc. )
All efforts goes to ChaosTrader () ,
RicardoSantos () ,
Hpotter for barcolor codes (iff) ()
I hope it will help your new ideas . Best regards ! Noldo .
Multi Timeframe RSI
This indicator will populate an RSI chart for multiple timeframes on the same chart.
Current Timeframe
15-min
1-hr
4-hr
1D
The point is to more easily see when things are getting oversold or overbought across multiple timeframes at the same time. To help with that, the background will also color green if all your selected timeframes are oversold and red if all your selected timeframes are overbought.
Note: It will only display and use the background colors on your current timeframe and timeframes larger than the current timeframe. So if you are looking at the 4-hr, the 15-min and 1-hr are ignored.
Volume ClimaxThis indicator couples RSI oversold and overbought regions with unusual volume . Often times you will see the final leg of a trend exhaust itself with this volume climax. This indicator is meant to help spot these instances.
User has the ability to customize oversold and overbought regions as well as a multiplier for how much more the volume needs to be relative to the 20 SMA . You can also set an alert with this indicator.
Profit Runner Study v2.0Updated version of our Profit Runner indicator. All of our invite-only scripts are available through our website profitprogrammers.com. All studies come together with their strategy equivalent!
TEDong OBV MACD OSC ==> ProfitHi, Folg,
OBV MACD OSC gives a Buy signal when the OBV value crosses up its EMA and a Sell signal when it crosses down its EMA.
Cross over markers Directional bgcolor, where RED for bearish (S) and GREEN for bullish (B)
If you include volume analyses in your trading strategy, automating OBV MACD OSC will give buy signals whenever volume and price are rising altogether.
DONATE/TIP
BTC: 13nhMN2H4LoRi4VMcPcyR96jitxrH3uivB
TEDong Velocity/Acceleration: Physics Newton LawHi Folg,
In physics, equations of motion are equations that describe the behavior of a physical system in terms of its motion as a function of time.
Kinematics motion is simpler as it concerns only variables derived from the positions of objects, and time. In circumstances of constant acceleration, these simpler equations of motion are usually referred to as the SUVAT equations, arising from the definitions of kinematic quantities: displacement (s), initial velocity (u), final velocity (v), acceleration (a), and time (t).
A differential equation of motion, usually identified as some physical law and applying definitions of physical quantities, is used to set up an equation for the problem. Solving the differential equation will lead to a general solution with arbitrary constants, the arbitrariness corresponding to a family of solutions. A particular solution can be obtained by setting the initial values, which fixes the values of the constants. To state this formally, in general an equation of motion M is a function of the position r of the object, its velocity (the first time derivative of r, v = dr/dt
), and its acceleration (the second derivative of r, a = d2r/dt2), and time t.
The following indikator is called TEDong Velocity/Acceleration, with alert LONG/BUY and SHORT/Sell.
DONATE/TIP
BTC: 13nhMN2H4LoRi4VMcPcyR96jitxrH3uivB
Oversold/Overbought RSI backgroundOften a background color is way better of an indicator.
Now you can directly see in your chart when price is in Oversold (red) or in Overbought (green), based on RSI analysis.
Enjoy!
DBT MoMo v.4DBT MOMO
Introduction: The MoMo is a TradingView indicator designed to evaluate momentum and give the user signals according to momentum shifts, strength, extensions, traps, and divergence. It’s an all in one oscillator that will make reading price action near term and long term much easier.
Part One: Strength
The MoMo consist of two major parts. A 3-candle back formula and a 24-candle back formula. The 3-candle back is called the Price Line (the histogram on the MoMo). The 24-candle back is called the Trend Line (the line on the MoMo). Both lines are placed into a range from 20 to -20. It can go higher than 20 or lower than -20, but this is extremely rare and short lived.
A positive number indicates a bullish bias, a negative number indicates a bearish bias. When the Price or Trend line are ascending while below 0 this indicates that the bearish momentum is weakening. When the Price or Trend line are descending while above 0 this indicates that the bullish momentum is weakening.
In a strong trend the Trend Line will likely flatten out around 15 or -15. While the Trend Line is flat the Price Line will likely shift rapidly, this can lead to bull and bear traps, we will discuss this in the Trap section.
A rare, but powerful signal from the MoMo is when the Price and Trend Lines “pinch” and begin to move in the same direction. If this is happening the trader should be looking to follow the direction of these lines.
Part Two: Extensions
When both Price and Trend Lines are above 10 or below -10 this will begin to signal an extension.
Purple: Indicates the bears are extended to the downside and a pullback or trend reversal upward is likely.
Gold: Indicates the bulls are extended to the upside and a pullback or trend reversal downward is likely.
When only the Trend Line is above 10 the MoMo will shade the upper range red. This indicates the Trend is becoming bullish or entering an extension. If the Trend Line cannot maintain above 10 for long and breaks below 10 this indicates it’s an extension and trend will most likely continue downward.
When only the Trend Line is below -10 the MoMo will shade the upper range green. This indicates the Trend is becoming bearish or entering an extension. If the Trend Line cannot maintain below -10 for long and breaks above -10 this indicates it’s an extension and trend will most likely continue upward.
When the green or purple shading have turned off take the lowest point, this is considered a support level or a local bottom.
When the red or gold shading have turned off take the highest point, this is considered a resistance level or a local top.
The trader can preemptively trade the purple or gold warnings but be warned these warnings can go on for a long time if the trend is very strong. It is the same mentality of an overbought or oversold RSI, except the MoMo extensions have a much higher strike rate.
To avoid preemptively trading these extensions the trader should wait for confirmation on the Price Line and on price action. The Price Line (histogram) should be moving upward during a purple extension to begin showing a bottom. The Price Line (histogram) should be moving downward during the gold extension to begin showing a top.
Part Three: Traps
The relation between the Price Line and Trend Line can create trading signals for bull and bear traps. When the Trend Line is flattened out around 15 or -15, indicating a strong trend is in place, and the Price Line is rapidly moving towards the midline this may indicate a trap is forming.
When the Trend Line is flat around 15 and the Price Line begins moving towards 0, if the Price Line reaches 0 or close to 0 and the Trend Line is still flat, a trap has begone. Once the Price Line shifts from decreasing (red) to increasing (green) the trap is playing out. Therefore, the trader should look to exit short positions or enter long positions.
When the Trend Line is flat around -15 and the Price Line begins moving towards 0, if the Price Line reaches 0 or close to 0 and the Trend Line is still flat, a trap has begone. Once the Price Line shifts from increasing (green) to decreasing (red) the trap is playing out. Therefore, the trader should look to exit long positions or enter short positions.
Part Four: Divergences
The MoMo is exceptional at finding divergences with the Price Line and occasionally the Trend Line.
To find a divergence with the MoMo the trader must look for when the histogram is not following price action completely.
Bullish Divergence: Price makes a lower low, MoMo makes a higher low.
Bearish Divergence: Price makes a higher high, MoMo makes a lower high.
Hidden Bull Divergence: Price makes a higher low, MoMo makes a lower low.
Hidden Bear Divergence: Price makes a lower high, MoMo makes a higher high.
For Access or Questions: Private message us. Thank you.
TEDong Bonga RSI ADXHey!
RSI ADX best indikator!
The logic is pretty simple:
value > 20: Oversold, next price action will follow that bullish trend, BUY signal is generated
value > 70: Overbought, next price action will follow that bearish trend, SELL signal is generated
If you have sny doubt just comment!
Willams %R with 13 EMA and Divergence FinderWilly 13 EMA
Features:
- Divergence finder
- Extreme conditions highlight
Abacus (CMF + Stoch. + Chop.) StrategyThis strategy combines uses Chaikin Money Flow, Stochastic Oscillator, and the Choppiness Index to determine trend strength and direction and generate entry and exit signals. This is a strategy adaptation of our earlier CMF + Stoch + Choppiness Index indicator.
Custom RSI [Mr_Orange]This is my custom RSI script, which is basically a normal RSI chart. Except it has build in alerts, based on the RSI strategy indicator, and I like the colors better.
* Buy signal is based on RSI crossunder from overbought to neutral zone
* Sell signal is based on RSI crossover from oversold to neutral zone
Both oversold and overbought can be adjusted. Future functionality will also include RSI rise and fall %
Thanks for checking it out! If you think it is worth something:
- BTC: 1NrG3Sy2VW8u4wWHucj1CQjKQ6hXYwbSyX
Self-Adjusting RSI +Here is an open source (no request needed!) version of the Self-Adjusting RSI by David Sepiashvili.
Published in Stocks & Commodities V. 24:2 (February, 2006): The Self-Adjusting RSI
David Sepiashvili's article, "The Self-Adjusting RSI," presents a technique to adjust the traditional RSI overbought and oversold thresholds so as to ensure that 70-80% of RSI values lie between the two thresholds. Sepiashvili presents two algorithms for adjusting the thresholds. One is based on standard deviation, the other on a simple moving average of the RSI.
This script allows you to choose between plotting the Self-Adjusting bands or the traditional bands. You can also plot a smoothed RSI (SMA or EMA) and change the theme color for dark or light charts.
If you find this code useful, please pass it forward by sharing open source!
Thank you to all of the open source heroes out there!
"If I have seen a little further it is by standing on the shoulders of Giants."
NIBIRU STOCHASTICThe Nibiru Stochastic oscillator is a tweaked version of one of the most popular trading tools - Stochastic Oscillator. It features:
K/D cross signals
Automatically adjusting overbought and oversold zones based on current trend situation
Color change based on trend
Price source selection
Use the link below or PM me to gain access to the indicator.
Dynamic Momentum IndexThis indicator was originally developed by Tushar S. Chande and Stanley Kroll. They described it in their book The New Technical Trader (1994).
The period for DMI calculation depends on the market volatility. DMI uses a longer period as volatility decreases and a shorter period as volatility increases, making it more responsive to changing prices than RSI which uses a fixed period. That's why the indicator is called "dynamic". You can specify the DMI period bounds (defaults are 5 and 30) in the indicator settings.
The calculation is based on the standard deviation of prices. The authors used a custom volatility index to adjust RSI period - the similar concept was used in the original VIDYA (yes, it was based on the standard deviation).
Source code on request
Self-Adjusting RSIThis indicator was originally developed by David Sepiashvili (Stocks & Commodities V. 24:2 (February, 2006): The Self-Adjusting RSI ).
The author presented a technique to adjust the traditional RSI overbought and oversold thresholds so as to ensure that 70-80% of RSI values lie between the two thresholds.
He used two algorithms for adjusting:
Standard Deviation-based
Simple Moving Average-based
Easy and straightforward. But this is not a true way.
Source code on request
ATR and RSI Buy / Sell Signal Beta 1.0This has been a long time coming for me.
I need to clean it up and add inputs for others to customize it that's why its protected.
This is configured for US securities.
Goal: Signal when to enter a trade on either side
Method: ATR and 2 RSI signals using:
3 Minute Chart Resolution
MUST have an active (can be hidden) BUILT-IN ATR ; length = 4 and set to RMA smoothing
MUST add the script; THEN go to the scripts settings and change the source to ATR. TV does not allow this to be set to default (that I know of)
I have default settings how I use them but you can modify:
ATR period (Length) =4
ATR multiplier = 0.9 (can edit by 0.1 increments.
The 1st Length/offset/resolution is defaulted to the 1 minute RSI.
The 2nd Length/offset/resolution is defaulted to the 3 minute RSI.
1)
OVERBOUGHT or OVERSOLD
*Please understand I use a length of 4 for this script, that is why the RSI OB/OS limits are so high/low.
Overbought conditions will light yellow if the 1m RSI > 90 and the 3min RSI > 85 and the time is between 09:42am and 16:00
Oversold conditions will light yellow if the 1m RSI < 10 and the 3min RSI < 10 and the time is between 09:42am and 16:00
The script ensures that if it is OB/OS under these conditions than it will not signal a buy or sell.
2)ATR
The script identifies reversals via the close breaking past the previous ATR on the preceding candle. ATR will not move UP on a short and will not move down on a long. It trails the last candle it was not broken.
The script plots labels up and down to identify the start of a reversal. Each start will have an accompanying line to display the continuation of the trend in one direction.
The script displays the value of the STOP as it trails price action. One could continue to mirror this value if you chose to. I use the fib tool for my targets and manage it as P/A demands.
3) RSI SIGNALLING
The script identifies a trend by analyzing BOTH RSI (1m and 3m) measures and requires that the current bar's readouts for BOTH measures are either greater or lower than the preceding candle.
The script also requires that both measures are above or below 50 to signal a trend.
The script will plot the trend as arrows up or down, it will display a (-) when the these conditions are not met.
Requirements to signal a BUY (LIME GREEN) or SELL (BRIGHT RED):
**Ensure your chart candle colors are faded so you can see the signal.**
**Precision is set to 0; remember TV rounds up or down for the visual measure but uses the exact measure for the script**
During the first 12 minutes:
----------------------------------
There are no OB/OS conditions as informed in section 1.
ATR stop line must be present OR the current bar close is higher than the ATR stop of the preceding candle whether it is a long or short stop signal. Quick whips are accounted for.
The current bar close MUST be higher or lower than the preceding candle's HIGH or LOW.
The script MUST identify the RSI signalling as detailed above in section 3.
The candle will light LIME or BRIGHT RED when these conditions are met and will not deceive the statements I have made.
It is important to understand that the signal may become null if the conditions do not persist through the final close of the candle. This means that a snapshot of the indicator does not accurately represent
what it will display at different times during each countdown of EACH 3 minute candle. Sometimes it signals to go long and once RSI gets too high it no longer signals. This is a good thing. Limits FOMO entries.
@ 09:42 until 16:00
-----------------------------------
OB/OS yellow candles will now occur as detailed in section 1.
Candles MUST clear the HIGH or LOW of the TWO preceding candles.
Candles MUST be trending as defined in section 3.
Candles MUST conform the conditions of the ATR stop.
I want to thank;
@pinescripters
@freedom_trader_
and I will even thank the manual lol
I have manually back tested this because I am working on the proper coding to have TV do it for me.
My strategy requires me to cover 25% of my position at 0.5 of the TV ATR 4 length RMA indicator.
Once the first target is hit than the STOP is moved to break-even.
If the target is not hit than my maximum loss is also 0.5 of the TV ATR 4 length RMA indicator.
I tested 3 full days, always on the 3min chart.
I tested 96 trades. All occurring immediately upon signal.
85 were wins and 9 were losses, 88.5% profitable.
Please understand that my intend is to cover enough quickly to cover commission costs and limit losses.
The remaining 75% of my position are sold off in the following pattern unless P/A demands that I override the FIB tool. Let them run when you can.
Position ENTRY
25% cover @ 0.5 x ATR
25% of remaining position cover @ 1.75 x ATR
25% of remaining position cover @ 2.5 x ATR
25% of remaining position cover @ 3.5 x ATR (APX 40% of the initial position)
I will further back test in the near future with an expanded risk.
Double & Triple Bollinger Bands by Atilla YurtsevenThere are many traders use Bollinger Bands . The defaults are 20 SMA ( simple moving average ) with 2 deviation and you can use only single and customizable deviation. I have decided to release an advanced version of Bollinger Bands .
Most traders use Double Bollinger Bands strategy. However, it's not enough either. We sometimes need more than that. You can still use a single one by disabling the rest. Also what if you would like to use WMA instead of SMA? Now you can even choose your favorite moving average.
Please remember to subscribe to my channel and add some comments below. Hope you enjoy it.
FYI: This is not financial advice
Trade safe,
Atilla Yurtseven