This indicator will mark 5 different candlestick patterns:
(1) bullish & bearish engulfing
(2) hammer & shooting star doji
(3) dragonfly & gravestone doji
(4) morning & evening star doji
(5) bottom & top tweezer
You may follow candlestick trading strategy by Rayner Teo here
Requested Update to this Indicator alert project. In this update I have added the option to be able select which Price Action candles you want included in the display and the generated alarm Alert. Other changes also included in this update:
Also added a Price Action candle for "Last Fractal S/R Break", this also a good continuation indication.
Added option to...
I originally wrote this script earlier this year for my own use. This released version is an updated version of my original idea based on more recent script ideas. As always with my Alert scripts please do not trade the CALL/PUT indicators blindly, always analyse each position carefully. Always test indicator in DEMO mode first to see if it profitable for your...
This is an updated and improved version of my "Price Action Trading strategy". I have added two extra optional filters, one is a trend direction filter based on the MACD slow EMA(17), blue line, and the other is a RSI(7) filter which works similarly to CCI(14) but slightly different dynamics (thank you to gianfranco60 for the suggestion). Also made a couple of...
This is an updated and final version of this indicator. This version distinguishes between the true Harami and the other Doji candlestick patterns as used with the Heikin Ashi candle charts. These candle patterns indicate a potential trend reversal or pullback.
The patterns identified are:
- Bearish Harami (Red Highlight above Bar):
One to three...
***** NOTE: You may see all GREEN circles (it is due to a recent TV update). To work around this issue, change the "Circles" to "Cross" via Format -> Style *****
Market Facilitation Index, by Bill Williams, plots the effectiveness of price movement by computing the price movement per volume unit.
4 possible combinations of MFIndex and Volume are:
This requested release includes an Alert condition, so an alarm can be created on selected Price Action bars. Also this version modifies the Doji calculation to be similar to an Harami, so now the description of the Doji's are:
- Bearish Doji (aka Bearish Harami) (Fuchsia Highlight above Bar):
A large body Bull (green) candle followed by a small or no body...
Vadim Gimelfarb's article in this issue, "Bull And Bear Balance Indicator," describes a method of deducing market sentiment from close-to-close price movement. His system uses the various possible relationships between the previous close and current open, high, low, and close
This is an indicator that draws support and resistance zones / levels based on price action in and around Keltner Channels.
There are 3 different modes;
Draw zones based on price breaking the upper band
Draw zones based on price breaking the lower band
Draw zones if price stays within the bands for a prolonged period of time.
You can also decide if you...
EMA 89 and Hull MA 89 used to filter trading signals and working as support and resistance.
When both of them are red, market is bearisk, only short.
When both of them are green, market is bullish, only long.
when there is 1 green and 1 red, market is neutral, can short or long.
Enjoy and happy trading!
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I updated my old indicator that plotted a Kalman filter avg. of the bars inside a higher timeframe bar, to attempt to find the most frequent price in that bar's timespan.
It ended up being somewhat close, but not exact, but the result is that you get a pseudo-vwap without a need for volume data, that isn't cumulative and can indicate trend direction, or if the...
The strategy contained in this post comes courtesy of babypips (.com), an excellent resource for all thing forex related. If you are new to trading, the site is definitely worth checking out!
Code commentary and an introduction to Inside Bars are available for this post on the Backtest-Rookies (.com) website.
Note: If you are interested in custom development...
This is a simple study that plots kagi values over your current chart. Works with both price action and time based charting.
NOTE: Because higher timeframe values are not certain until closed, refresh your chart as new levels are drawn.