Inter-Exchanges Crypto Price Spread Clouds (Tartigradia)Display variations in min-max and median values of high, low and close across exchanges. It's a kind of realized volatility indicator, as the idea is that in times of high volatility (high emotions, fear, uncertainty), it's more likely that market inefficiencies will appear for the same asset between different market makers, ie, the price can temporarily differ a lot. This indicator will catch these instants of high differences between exchanges, even if they lasted only an instant (because we use high and low values).
Compared with my other "Inter-Exchanges Crypto Price Spread Deviation" indicator, this one overlays directly on the chart, and offers a different take based on the same premisses. Instead of summarizing volatility via standard deviation, here we display clouds of the range of values that were observed.
A big advantage of this approach is that it can also be used to determine safe stop loss levels, especially the values of percentile rank (i.e., what are the high values that were observed in at least 50% of exchanges?).
Indeed, all price levels are displayed in the indicator's status bar:
green for high values,
red for low values,
aqua for median,
purple for average,
The first two values are max and min values of high across exchanges (in green).
The next two values are max and min of low across exchanges (in red).
The next two values are median (aqua) and average (purple).
The last two values are percentile rank values for high (green) and low (red) respectively.
Another advantage is that the high (green) vs low (red) clouds can be seen as representing the buying or selling pressure respectively across exchanges, and this may in itself provide a signal to know whether one side is winning.
Link to my other complementary indicator:
Compared to other inter-exchanges spread indicators, this one offers two major features:
The symbol automatically adapts to the symbol currently selected in user's chart. Hence, switching between tickers does not require the user to modify any option, everything is dynamically updated behind the scenes.
It's easy to add more exchanges (requires some code editing because PineScript v5 does not allow dynamical request.security() calls).
Limitations/things to know:
History is limited to what the ticker itself display. Ie, even if the exchanges specified in this indicator have more data than the ticker currently displayed in the user's chart, the indicator will show only a timeperiod as long as the chart.
The indicator can manage multiple exchanges of different historical length (ie, some exchanges having more data going way earlier in the past than others), in which case they will simply be ignored from calculations when far back in the past. Hence, you should be aware that the further you go in the past, the less exchanges will have such data, and hence the less accurate the measures will be (because the deviation will be calculated from less sources than more recent bars). This is thanks to how the array.* math functions behave in case of na values, they simply skip them from calculations, contrary to math.* functions.
Pesquisar nos scripts por "西布罗姆vs伯恩利"
MARS - Moving Average Relative StrengthThe original idea from this script is from the script " Percentage Relative Strength " by dman103 . The original script compared a symbol to an index by their everyday percentage change. The symbol percentage was subtracted from percentage change of the index, & the results were then smoothed by moving averages.
Instead of daily percentage changes, this script directly calculates relative strength via a moving average. We call this simpler approach as MARS (Moving Average Relative Strength) .
MARS compares a symbol to the index by making use of the price's distance from a moving average. By default, we compare the distance from the 50-day simple moving average of the stock vs that of the index. Both the type & the length of the moving average is customisable.
Background color indicates the index being above or below its moving average.
Blue background: index is above its moving average
Pink background: index is below its moving average
The histogram indicates whether the stock is under-performing or out-performing the index.
Up-bars : stock is out-performing the index i.e. between the stock & the index, the difference between the distance to/from the 50-day moving average is a positive value.
Down-bars : stock is under-performing the index i.e. between the stock & the index, the difference between the distance to/from the 50-day moving average is a negative value.
The color of the histogram indicates the type of out-performance or under-performance. There can be a total of 6 such colors:
Relative out-performance : both index & stock are bearish, but stock is less bearish. The script prints light green up-bars on a pink background.
Gross out-performance : both index & stock are bullish, but stock is more bullish. The script prints green up-bars on a blue background.
Absolute out-performance : index is bearish, but stock is bullish! The script prints blue up-bars on a pink background.
Relative under-performance : both index & stock are bullish, but stock is less bullish. The script prints light red bars on a blue background.
Gross under-performance : both index & stock are bearish, but stock is more bearish. The script prints dark red bars on a pink background.
Absolute under-performance : index is bullish, but stock is bearish! The script prints black down-bars on a blue background.
Additional customisation options:
Paint bars option changes the bar colors to mirror the histogram colors.
Easy colors option just changes the histogram colors to either blue or pink, indicating out-performance or under-performance, respectively. This is when the trader does not wish to demarcate between the above-mentioned 6 conditions.
Global Monetary Supply M2 Vs the Global GDP This indicator compares the Global (world) Monetary Supply (measured in USD) compared to the Global GDP.
This can be useful to measure the "money printing speed" of the world compare to the "world gdp growth", the higher the slope (angle of growth) the more money printing.
It includes the exact same countries of the Global M2 indicator (done by me), to make fair the comparison, which has the richest and most populous countries so to have a clear overview.
There tough a few very populated countries excluded, the details can be found on the Global M2 indicator script and reason for exclusion.
Enjoy!
SPY 1 Minute Day TraderWhen scalping options, users are looking for where breakouts are going to occur instead of sitting thru areas choppy price action that drain delta and cause them to lose value even if price is up trending. This script tries to identify when a trend reversal is expected based on one minute price action on the SPY. It alerts users to prepare for potential breakout when 5 out of the 6 key optimized parameters are discovered by showing a white L or S. Once all six trigger, it informs the user at the close of that candle with a golden triangle with Pivot Up or Pivot Down. As scalping options is something that is expected to be short in duration, a take profit and stop loss of 30 cents of price actions is established. If five or more parameters occur after the pivot is initiated, then stop losses and take profits are adhered to; however, if there are less, then it waits to take profit or stop the trade, as likely it is just noise and it will finish trend with an additional breakout.
This script has been created to take into account how the following variables impact trend for SPY 1 Minute:
ema vs 13 ema : A cross establishes start of trend
MACD (Line, Signal & Slope) : If you have momentum
ADX : if you are trending
RSI : If the trend has strength
The above has been optimized to determine pivot points in the trend using key values for these 6 indicators
bounce up = ema5 > ema13 and macdLine < .5 and adx > 20 and macdSlope > 0 and signalLine > -.1 and rsiSignal > 40
bounce down = ema5 < ema13 and macdLine > -.5 and adx > 20 and signalLine < 0 and macdSlope < 0 and rsiSignal < 60
White L's indicate that 5 of 6 conditions are met due to impending uptrend w/ missing one in green below it
Yellow L's indicate that 6 of 6 conditions still are met
White S's indicate that 5 of 6 conditions are met due to impending downtrend w/ missing condition in red above it
Yellow S's indicate that 6 of 6 conditions still are met
After a downtrend or uptrend is established, once it closes it can't repeat for 10 minutes
Won't open any trades on last two minutes of any hours to avoid volatility
Will close any open trades going into last minute of hour to avoid large overnight random swings.
Implied and Historical Volatility v4There is a famous option strategy📊 played on volatility📈. Where people go short on volatility, generally, this strategy is used before any significant event or earnings release. The basic phenomenon is that the Implied Volatility shoots up before the event and drops after the event, while the volatility of the security does not increase in most of the scenarios. 💹
I have tried to create an Indicator using which you
can analyse the historical change in Implied Volatility Vs Historic Volatility.
To get a basic idea of how the security moved during different events.
Notes:
a) Implied Volatility is calculated using the bisection method and Black 76 model option pricing model.
b) For the risk-free rate I have fetched the price of the “10-Year Indian Government Bond” price and calculated its yield to be used as our Risk-Free rate.
CBDE OscillatorWhat makes The Universe grow at an accelerating pace?
Dark Energy.
What makes The Economy grow at an accelerating pace?
Debt.
Debt is the Dark Energy of The Economy.
The Central Bank Dark Energy Oscillator (CBDEO) is a companion to the popular CBDET (Central Bank Dark Energy Tracer) script.
CBDEO is an oscillator that shows up in a separate TradingView pane in order to provide a relative change signal. It uses the same equations to aggregate central bank liquidity that are used in CBDET, and adds unique analysis tools that provide rate of change data.
There are 2 signals in the chart. First is the change/delta on a per bar basis, based on the chart time frame. The default style for this plot is "columns". This style parameter can be changed in the settings, along with each plot's visibility.
The second plot is a divergence signal that tests the change vs a simple moving average of the CBDET signal (central bank liquidity). The SMA length is customizable in the Input tab within the settings for the indicator. The SMA is based on the chart's current time frame.
The changes in liquidity on various time frames, and calculated as divergence against the liquidity signal SMA can be useful in determining the rate of change in liquidity, and therefore potential thrust in market price action.
Negroni MA & RSI Strategy, plus trade entry and SL/TP optionsI will start with the context, and some things to think about when using a strategy tool to back-test ideas.
CONTEXT
FIRST: This is derived from other people's work, but I honestly hadn't found a mixed indicator MA strategy tool that does what this now does. If it is out there, apologies!!
This tool can help back-test various MA trends (SMA, EMA, HMA, VWMA); as well as factoring in RSI levels (or not); and can factor in a fixed HTF MA (or not). You can apply a 'retest entry' or a 'breakout entry', and you can also apply various risk mgt for SL/TP orders: 1) No SL/TP; or 2) a fixed %, or 3) dynamic ATR multipliers.
Find below, some details explaining what this tool is attempting to do.
Thank you, tack, salute!
THINGS TO REVIEW (it is not just about 'profitability'!!)
Whilst discretion is always highly encouraged as a trader, and a 100% indicator-driven strategy is VERY unlikely to yield sustainable results going forward, at the very least back-testing your strategies can help provide some guidance, not just on win rate Vs profit factor, but other things including:
a) Trade frequency: if a strategy has an 75% win rate and profit factor of 4, with all your parameters and confluence checks, but only triggers 3 trades every 5 years, is that realistically implementable to your trading situation if you have a $10,000 account?
b) Trade entry type: is it consistently better to wait for a retest of an 'MA zone', or is it better to market buy/sell on breakout of the 'MA zone'?
c) Risk management (SL/TP): is it consistently better to have a fixed static % for SL/TP ("I always place my stops 2% away, whether it is EURUSD or BTCUSDT"), or would you be better placed to try using an ATR multiplier of the respective assets?
d) Moving average type: is your old faithful 100 EMA really serving you well, or is the classic SMA more reliable, or how about the HMA, or the VWMA? Is the 100/200 cross holding up, or do you need something more sensitive? Is there any significant difference between a 10 EMA/20 EMA trend zone compared to a 13 EMA /25 EMA zone?
e) Confluence: Do added confluence checks (RSI, higher timeframe MA) actually improve profitability? But even if they do, is at the cost of cutting too many trades?
INPUTS AND PARAMETERS
Choice 1) Entry Strategy: Retest or Breakout - You can select both!
[ ]:
a) RETEST entry strat: price crosses UNDER FastMA INTO the 'MA trend zone'.
b) BREAKOUT entry strat: price crosses OVER FastMA OUT the 'MA trend zone'.
Choice 2) Risk Management (SL and TP) - You can select more than 1 strategy!
a) No SL/TP: Long trades are closed when the LOW crosses back UNDER the fastMA again, and shorts are closed when the HIGH crosses back OVER the fastMA again.
b) Static % SL/TP: Your SL/TP will be a fixed % away from avg. position price... WARNING: You should change this for various asset classes; FX vol is not the same as crypto altcoin vol!
c) Dynamic ATR SL/TP: Your SL/TP is a multiple of your selected ATR range (default is 50, see 'info' when you select ATR range). ATR accounts for the change in vol of different asset classes somewhat, HOWEVER... you should probably still not have the same multiplier trading S&P500 as you would trading crypto altcoins!
Then select your preferred parameters: EMA, SMA, HMA, VWMA, etc. You can mix and match, and most options have a info/tooltip guide.
RSI note: If you don't care for RSI levels, then set buy signal at 1... i.e always buys! Similarly set sell signal at 99.
ATR note: standard ATR length is usually 14, however... your SL/TP will move POST entry, and can tighten or widen your initial SL/TP... for better AND usually for worse! Go find a trade (strat 3) on the chart, look at the SL/TP lines, now change the number to 5, you'll see.
Fixed HTF MA note: If you don't care for HTF MA confluence, just change the timeframe/options to match the 'Slow MA' options you've chosen.
Easy RSI by nnamWhat Does this Indicator Do?
The Easy RSI Indicator color codes candles based on their RSI Value vs. Open / Close (Red / Green). It plots the current price and current RSI value on the chart in real-time. Additionally, when the RSI Value is in an oversold or overbought condition, it plots that signal on the chart in real-time.
The initial candle color is the standard Red / Green Tradingview color, but a Gradient is added to the color which either darkens or lightens the color based on the RSI Value.
As seen in the screenshot below, the higher the RSI Value, the brighter the Green Color is. The lower the RSI Value, the brighter the Red Color is.
The current Price and current RSI Value are both plotted on the chart by default, but can be optionally switched off by the trader.
As seen in the screenshot below, the prices and RSI Values are easily seen while visually tracking the price in real-time.
RSI Overbought Values are plotted when the Overbought condition is triggered. The Default is RED for Overbought and GREEN for Oversold.
As seen in the screenshot below, with all three labels turned on under the input settings (these are ON by default) you can see the overbought condition, the current RSI Value, and current price all in one centralized area. Oversold Values are also plotted when turned on under the input settings.
As shown in the screenshot below, the candle is GREEN (as evident by the green candle outline) but the RSI Value is low and shows lower than average relative strength. This turns the bar color ORANGE vs, GREEN showing that the relative strength of the move is subpar.
As shown on the screenshot below, if the trader has the standard Tradingview Price label switched on (in the Tradingview Chart Settings), the color of the bar is also translated to the price are for an easy to recognize RSI Value just by looking at the price. Even if the current candle is RED, when the RSI is higher than lower, the color will be green / greenish and even if the current candle is GREEN, when the RSI Value is lower than higher, the color will be red-ish / orange in color giving the user a quick view of RSI Value.
If you have any questions or feature requests for this Indicator please do not hesitate to reach out and ask.
GOOD LUCK trading!!
~nnamdert
Investing Performance with vs without feesHello traders,
I had a chat with a friend recently who's using a fund manager services to invest for him in some US-based ETFs tracking the US indices.
I showed him using an online tool that those 2% annual fees he's paying to his fund manager are eating a lot of his profit overtime.
As I had some time, I decided to code this simulator in Pinescript because .... why not :)
@RicardoSantos already did that Compound Interest function ()
I added the n parameter being the number of times the interest is compounded per unit of time
Compound interest is calculated using the following formula
CI = P*(1 + R/n) (n*t) – P
Here,
P is the principal amount.
R is the annual interest rate.
t is the time the money is invested or borrowed for.
n is the number of times that interest is compounded per unit t, for example if interest is compounded monthly and t is in years then the value of n would be 12.
If interest is compounded quarterly and t is in years then the value of n would be 4.
For now, the script only works on a yearly chart - I might update it later making it compatible with other chart timeframes - assuming there is some demand for it
If there is, let me know in the comments down below
All the best
Dave
Another New Adaptive Moving Average [CC]The New Adaptive Moving Average was created by Scott Cong (Stocks and Commodities Mar 2023) and this is a companion indicator to my previous script . This indicator still works off of the same concept as before with effort vs results but this indicator takes a slightly different approach and instead defines results as the absolute difference between the closing price and a closing price x bars ago. As you can see in my chart example, this indicator works great to stay with the current trend and provides either a stop loss or take profit target depending on which direction you are going in. As always, I use darker colors to show stronger signals and lighter colors to show normal signals. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicator scripts you would like to see me publish!
RS: FootprintThis is live only Footprint indicator.
Warning: TV does not provide tick by tick data and updates come in snapshots . Based on this, this indicator can never show precisely what is happening on the bid/ask. What it shows is only an approximation that works well enough if the tape is not too fast.
Use it at your own risk, with the warning above in mind!
Footprint can be used in two modes:
Delta - with bid/ask delta numbers on the left, at the same price level and the total volume numbers on the right
Bid vs Ask - with the bid on the left and the ask on the right; the coloring is based on the diagonal difference
Zoom in to fit the candles; optionally hide default candles.
TICK - Custom Tickers [Pt]Traditionally, the TICK index is a technical analysis indicator that shows the difference in the number of stocks that are trading on an uptick vs a downtick in a particular period of time. This indicator allows user to choose up to 40 tickers to calculate TICK.
By default, it uses the SPY Top 40 stocks, but can be changed to any tickers.
There are options to show:
- Top 7 , ie. can be used for just showing TICK for FAANGMT => $FB + $AMZN + $AAPL + $NFLX + $GOOG + $MSFT + $TSLA
- Top 10
- Top 20
- Top 30
- Top 40
Data can be displayed in candle bars, line, or both.
Enjoy~
Fib RetracementI've re-created the fib retracement tool as an indicator and this is as close as I can currently get to matching the built-in fib retracement tool.
Why did I make this? For custom labels for every fib retracement level.
Caveats to this vs the built-in tool are:
the "Save as Default" doesn't appear to work (I believe this is due to the interactive/confirm based settings)
copy and paste to another chart is locked into the price of source location
when dragging the points of retracement the tool/indicator disappears
Hopefully some can find usefulness in this code or it's functionality.
Custom HTF candle overlay, ICT True Day-input your own session time for custom 'daily' or HTF candles to overlay on your lower time frame charts.
-based on ICT's notion of 'True Day'.
-customize the HTF candles to any start/end time.
-set lookback period/cutoff in days (i.e. backtesting vs only viewing recent price action).
-option to toggle on/off custom opening price line.
-works across all lower time frames.
~useful for visualizing the chunks of the day where the action tends to happen.
~useful for other session times intraday; to be visualized as a single custom HTF candle.
GRIDBOT Scalper by nnamWhat is this Indicator used for?
Made specifically for GRID Bots
note: before continuing... this indicator works on any timeframe, but it WORKS BEST ON THE 15 MINUTE TIMEFRAME
Straters and Forex Master Pattern Value Line Traders use this to help determine when the price could reverse.
This indicator is a scalping indicator that produces signals when a "potential" reversal in price is indicated. When the price moves UP and a Potential Bearish Reversal Signal occurs, traders can use this signal as a potential SHORT entry signal for their Short Grid Bot. The process is the same in reverse. After a sustained move down, a Potential Bullish Signal can be used by the trader as a potential LONG entry signal for their GridBot.
As shown in the screenshot below, lines develop on the chart (either RED or GREEN) indicating that a sustained move in one direction is currently occurring; however, there is no potential reversal signal plotted (this means that price action is currently moving in one direction only).
As shown in the screenshot below, lines can be used as a stop-loss after entering the GRIDbot. (usually, by this time, the Grid Bot is in Profit as it usually moves in the opposite direction first)
What this Indicator Does
The GRIDBOT Scalper provides information regarding potential reversals in the market after a sustained movement in one direction (either Bullish or Bearish).
The indicator is based on PRICE-ACTION ONLY and does not take into account the current state of the market (Bullish or Bearish).
Once the price moves in a particular direction for at least 14 bars , a line appears as shown in a previous screenshot. Once the price stops moving in that direction and begins moving in the opposite direction - and after a sustained run - a "signal" appears alerting the trader that a "potential" reversal could be on the horizon soon.
If price moves in one direction and plots both a line and a signal and then begins moving back in the other direction in a sustained manner, the original signal will remain even when a NEW line begins forming (the original line will disappear). (see below) This line will continue to move as the price continues to move. Not until a signal plots on the chart is the potential reversal forming. THE LINE DOES NOT SIGNAL A REVERSAL . Some traders, however, use this information to "ride the wave UP or DOWN" and exit their positions once the signal prints.
As shown below, optional input settings allow the trader to set the line at CLOSE or HIGH/LOW of the candle preceding the potential reversal.
It is suggested to use Close instead of High or Low but the setting allows one to use either.
As shown in the screenshot below, it is typical on LOWER TIME FRAMES to see the price pass the signal line. The Indicator works best on the 15 minute timeframe, as it gives the trader time to make the decisions required as the volatility is less on the 15 minute chart vs the 1 minute or 5 minute charts.
If you have any questions or suggestions for this indicator, please join our Discord. We offer free training on this Indicator on our Discord Server.
Quarterly Returns in Strategies vs Buy & HoldThis is a Quarterly Returns version of Monthly Returns in PineScript Strategies by QuantNomad
This script shows a table of Quarterly/Yearly performance of your strategy.
It also provides an option to compare with Buy & Hold.
The script can easily integrated to your strategy. All you need to do is copy the table part and paste it at the end of your script
Disclaimer
Please remember that past performance may not be indicative of future results.
This post and the script don’t provide any financial advice.
Simple STRAT Tool by nnamWhat this Indicator Does
This indicator is a very simple tool created specifically for experienced Straters. It was created for those Straters who fully understand the 1-2-3 Strat Scenarios, are in need of an easy to use tool, and do not want or need a lot of messy markings on their chart.
The indicator simply allows the user to color code the Strat 1, 2 ,3 (Inside /Outside /Up / Down) Bars as desired and by default extends lines to the right of the chart from the Highs and Lows of the previous 2 Bars giving the user a simple reference for Strat scenario structure breaks.
As shown above, the bars are color coded, but the original bar color is maintained via the border and wick.
If a bar is an Outside Bar or an Inside Bar, it is still easy to identify whether or not the bar was a Bullish or Bearish 1 or 3.
The same goes for 2UP and 2Down Bars - It is easy to identify Bullish or Bearish UP or DOWN Bars.
Optionally, as show in the screenshot below, the user can extend the lines in both directions to get an "at a glance" better understanding of where price is currently vs previous support and resistance areas.
For Straters that prefer to trade only INSIDE BAR BREAKOUTS there is an optional input setting labeled "Trade Inside Bars ONLY".
This setting turns OFF the lines that extend from the 2nd previous bar back and only displays and extend lines from the previous bar IF and ONLY IF the current bar is an INSIDE (one) bar. .
The User Input settings allow for the following customizations:
1. Custom Outside Bar Color
2. Custom Inside Bar Color
3. Custom 2 Up Bar Color
4. Custom 2 Down Bar Color
5. Turn ON or OFF color coded bars
6. Trade only INSIDE Bar Breakouts
7. Extend Lines Both Directions
8. Hide all Lines
The customizable settings above allow the user to hide all lines and turn OFF color coding without having to fully remove the indicator from the chart. This is convenient when the user has another indicator that uses color coded bars or the lines conflict with another indicator and they need to be temporarily disabled.
If you have any questions regarding this indicator please let me know. If you have any suggestions for minor tweaks to the indicator do not hesitate to ask for them.
I hope you enjoy this indicator and get some usefulness from it... HAPPY TRADING!!
Short vs Long ATRSimple pinescript that compares a long ATR against short ATR and let you define a threshold in %
Quickfingers Luc base scanner - version 2This is my second implementation of a Pine Script Quickfingers Luc (QFL) base scanner that I have published on Trading View. QFL base scanners seek to provide buy signals according to the QFL trading strategy. To profitably trade using this script you should be familiar with the QFL trading strategy, scaling in and out of positions, and money risk management.
Background
All the QFL base identification Pine Scripts that I have inspected to date use a simple candlestick pattern of two lower lows followed by two higher lows to identify a base. Some scripts may combine this with a volume indicator as well. In practice, I found the results of this approach to be somewhat unreliable. The candlestick pattern may identify some significant bases, may identify minor bases (that should not be traded), but at the same time miss other significant bases entirely!
My first QFL base scanner sought to use Pine Script’s built in ta.lowest and ta.highest functions to identify bases and peaks. This approach depended on the time period selected to find the lowest lows and highest highs. This approach can be problematic because significant bases may be formed outside the nominated time period, leading to the identification of minor bases within the time period. I have left the first version of my QFL base scanning script in the Trading View indicators because it uses a different approach to this script that other people may still find useful.
My second version of the QFL base scanner does not use the Pine Script ta.lowest and ta.highest functions, and therefore does not rely on nominating a time period to look back through data.
User inputs
This script steps through the price data to find the following patterns that are used to confirm bases and peaks.
Base – bounce of x% above previous base confirms that base
Peak – fall of y% below previous peak confirms that peak
Buy signal – fall of z% below the base signals a buy signal.
x%, y% and z% are user configurable through the script settings. Small percentages will provide more, but riskier, buy signals; larger percentages will provide fewer, but safer, buy signals.
The script identifies QFL bases and buy signals and marks them on the price chart. These are able to be turned on and off in the script settings. The settings also allow the user to turn on plots for peaks, lowest lows and highest highs. These are not useful for applying the QFL trading strategy, but are calculations used in finding bases and can be useful for the user to understand what the script is doing in the background.
Troubleshooting
If looking at the past script results, you may think that the script is perfectly timing entry points at the bottom of market dips. This is NOT the case. The script is actually showing buy signals when the price falls z% below the PREVIOUS base. The current base is only retrospectively marked some periods later once the reversal is confirmed – a solid line marks a confirmed base in real time; a dotted line retrospectively repaints the line to the actual base. New bases are not tradeable using this script, but a percentage fall from the previous base is – this is the QFL trading strategy.
Pine Script may flag that this script has a repainting issue. Pine Script defines repainting as, “script behavior causing historical vs realtime calculations or plots to behave differently.” In the case of this script, bases are confirmed once the price has bounced x% off the low. The script then repaints a dotted line from the base that has been identified in real time (with a solid line) back to the point in the price data where the base actually occurs. The dotted line only aids in visual identification of the base, and does not impact on the real time identification of bases. A similar repainting issue occurs for identifying peaks. I have identified the lines in the script that cause this repainting. These lines can be commented out without affecting the buy signals generated by the script, but you will also lose the visual pinpointing of historical bases and peaks.
The user may find price charts where they think that the script has not correctly identified a base or peak. Usually, careful measurement will reveal that the price chart has not confirmed a base or peak by moving x% or y% from the previous base or peak respectively.
And before you ask, yes, Trading View alerts work with this script.
Enjoy.
RedK K-MACD : a MACD with some more musclesMoving Averages are probably the most commonly used analysis tools, and MACD is possibly the first charting indicator a trader gets to learn about.
MACD Basic concept
----------------------------
Without repeating all the tons of documentation about what MACD does, let's quickly re-visit the MACD concept from a 10-mile altitude (note we're keen on simplifying here rather than being technically accurate - so please forgive the use of any "common lingos")
- MACD goal is to represent the distance between 2 Moving Averages (MAs) - one fast and one slow, relatively - as an unrestricted zero-based oscillator.
- The value of the main MACD line is the distance, or the displacement between the 2 MA's
- usually a signal line is used (which is another MA of that distance value) to enable better visualization of the change (and rate of change, since this is all depicted on a time axis) of that displacement - this represents price momentum (price movement in the recent period versus movements for a relatively longer period).
- the difference between the main MACD line and its signal is then represented as a histogram above and below the zero line. in this case, that histogram is really redundant, since it shows a value that is already represented visually by the main line and its signal line.
How K-MACD is different
---------------------------------
K-MACD takes that simple concept of the classic MACD and expands around it - the idea is to use the same simple approach to representing price momentum while bringing in more insight to price moves in the short, medium and long terms, ability to represent more than 2 MA's and to enable better identification of tradeable patterns (like Volatility Contraction and others) - while still keeping things simple and visually clean.
K-MACD is an indicator that allows us to view how price moves against 3 moving averages: a fast / slow pair, and a "market" Filter or Baseline (very long) that will be used as a flag for Bear/Bull market mode. Many traders and trading literature use the 200 day (40 week) SMA as that key filter
so in total, there are 4 MA lines in K-MACD (excluding the "orange" signal line):
* Price Proxy: Which is a very fast moving average that will represent the price itself - let's use a WMA(3) or something close to that here - there will be a signal line to enable better visualization of this similar to a classic MACD - that's the orange line
* Fast & Slow MA's : Use whatever represents the "medium term" momentum for your trading - Some traders use 20 and 50, others use 10 and 20 .. if on your price chart, you keep using a pair of MA's for this, use the same settings in K-MACD - these will be represented by the 3-color Momentum Bars that fluctuate above and below the baseline
* Filter/Baseline MA: Should be your long (Bullish/Bearish Mode) MA. so 100 or 200 or any other value you consider your market to be bearish below and bullish above. on K-MACD this is actually the blue zero line - everything else is "relative" to it
Review the sample chart which explains various elements and the "price chart" setup that K-MACD represents. With K-MACD you can clean up your chart from those various Moving Averages - or use a different set than the ones you already have K-MACD represent - or other indicators (like ATR channels..etc)
Other "muscles" in the K-MACD
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- Relative vs Classic Calculation Mode
A key issue with the classic MACD is that the displacement between the 2 moving averages is represented as "absolute or direct" values - as the price of the underlying increases with time, you can't really use these values to make useful comparison between the past and now (see below example) - also you can't use them to compare 2 different instruments.
- The "Relative" calculation option in K-MACD addresses that issue by relating all "distances" to the Baseline MA as percentage (above or below) - you can see this clear when you look at the above chart the far left versus the far right and compare K-MACD with the classic MACD - the Classic option is still available
- More MA "type" options for all MA lines: choose between SMA, EMA, WMA, and RSS_WMA (which i use a lot in my trading and is my default for the Price Proxy)
- More Alerts: a total or 9 alerts (in 3 groups) are available with K-MACD (Momentum above or below baseline, Price Proxy crossing signal line, and Price Proxy crossing baseline)
- New 52 week High / Low markers: These will show as Green/red circles on the zero line in K-MACD. this will only work for 1D timeframe and above, i'm just using a simple approach and would like to keep it that way.
- i know i added some more features not covered above :) -- if you have questions about any of the settings, feel free to ask below
Closing thoughts
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K-MACD is a combination of couple of indicators i published in the past (xMACD and Mo_Bars) - so you can go back and read about them if needed - I then added improvements to accommodate ideas from swing trading literature and common practices that i plan to focus on in future. So K-MACD is really part of my own trading setup.
I assume here that most traders are familiar with what a MACD is - so kept this post short - if you thing we should expand more about the concepts covered here let me know in the comments - i can make some separate posts with examples and more details.
I hope many fellow traders find this work useful - and feel free let me know in comments below if you do.
Renko Emulator - Rev NR - Released - 12-29-22Renko Emulator - Rev NR - Released 12-29-22
By Hockeydude84
Simple script to Emulate Renko Charting behavior on standard candle stick charts. Code provide capability to select between standard(ish) Renko bricks (in this code it's defined by percent vs ticks/value), or an ATR brick option. For ATR bricks, the code provides an option to inhibit emulator movement (formation of new bricks) by providing a minimum threshold that must be present. This threshold is the "Standard Brick" input (the input pulls double duty). Code also provides multiple plotting options.
Use the code to help see trends and reduce the chop/erroneous data. Also helps to identify where trend deviations are present.
TableBuilderTableBuilder is a library designed to make it easier to create tables in PineScript.
It allows you to more flexibly define the structure of a table before actually building it.
Features:
Style inheritance: styles are inherited from Table, to Column, to Row, and then Cell.
Columns are useful for propagating/reusing style but they are not required.
Add rows with different numbers of cells. The resultant number of columns in the table will be determined by the max number of cells vs the number of defined columns.
Auto text color: Instead of having to set the font color for every cell, the color is automatically determined by the luminosity of the background color.
See the 'Demo' section of the code for an example.
[Pt] TICK + Heikin Ashi RSI IndicatorThis indicator combines NYSE TICK and RSI to aim to provide a view of NYSE market trend strength.
What is TICK
NYSE TICK, also known as the TICK index, is a technical analysis indicator that shows the number of stocks on the New York Stock Exchange (NYSE) that are trading on an uptick or a downtick in a particular period of time. The TICK index is calculated by subtracting the number of stocks trading on a downtick from the number of stocks trading on an uptick. A reading of +1000 on the TICK index, for example, would indicate that there are 1000 more stocks trading on an uptick than on a downtick. The TICK index is often used as a measure of market sentiment, as it can provide insight into whether there is more buying or selling pressure in the market at a given time. A high TICK index reading may suggest that there is strong buying pressure, while a low TICK index reading may indicate that there is more selling pressure in the market.
By default, I am using -800 and 800 for oversold and overbought levels. These are configurable. Also, this indicator includes TICK divergence signals.
The TICK index is usually very volatile, so this indicator is best suited for lower timeframes, such as 1 to 5 min charts.
Idea of TICK neutral zone
As part of this indicator I've identified what I consider as "neutral" range for the TICK. Based on my own personal experience, the market tends to be in consolidation or choppy in this range. By default, I've defined this range to be -200 to 200. This range is configurable.
Signals
In combination with RSI and Heikin Ashi RSI (HARSI), which help smooths out the RSI values and make it easier to identify trends and potential reversal points, this indicator aims to generate Bullish vs Bearish signals based on the following conditions:
- bullish / bearish HARSI candle
- Inside bar on HARSI candle
- TICK trend (above or below Neutral zone)
- RSI trend (above or below 0, but not overbought or oversold)
- RSI / HARSI convergence and divergence
When all bullish conditions are met, the signal turns bright green. Bright red when all bearish conditions are met. These generated signals aims to provide users easy to read visual cues to help with their trades.
A table is also provided in attempt to identify the trend in real time:
TICK trend:
- Bullish, Extended
- Bullish
- Neutral w/ Bullish bias
- Neutral w/ Bearish bias
- Bearish
- Bearish, Extended
RSI:
- Bullish
- Bearish
Note on scale
This indicator is based on the scale for TICK, hence the RSI and HARSI are scaled. By default, standard overbought RSI value of 70 = 800 on this scale, whereas oversold value of 30 = -800.
Credits:
Heikin Ashi RSI code was borrowed from @JayRogers - Heikin Ashi RSI Oscillator
