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Daily 9 EMA Plotted at Other Than Daily Time Frame Credit to the great @Zoen Triste for his original script at: I just amend it for the Daily, 4H and other time frames. The main function of the Daily 9EMA (pink line) is to easily distinguish the big trend. It is also for multi time frames dynamic support / resistance when trading using tf lower than Daily, without having to toggle between the time frames. Everything is there at a single time frame chart. I like to day trade and switch to swing trade when there is a solid setup for it. To be able to do that, I use 15mins tf together with the Daily 9EMA, 4H 34EMA and 4H 21EMA. How to trade using this setup? First of all, if price is below the pink line (Daily 9EMA), it means the big trend is downtrend (and vice versa). When price retrace and reach the blue (4H 21EMA) or black (4H 34EMA) or the pink (Daily 9EMA) line (look at the red arrows), if there is bearish divergence / slingshot at the MACD's histogram together with a reversal candle such as pin bar (shooting star), dark cloud cover or bearish engulf, it's a short setup. We don't need to put the Stop Loss immediately. We can wait for the price to resume in the direction of the big trend to trail the SL. I do add up daily and weekly pivots and trendlines for additional support / resistance for greater confidence. If the above setup occurs at certain pivots and trendline, we'll have a very high probability setup. Please see the zoomed-in chart as below: When price is above the pink line, the setup is just the opposite. My conclusion: When day trading using this setup at smaller time frames such as 15mins, we don't have to toggle between 4H and 15min time frames to see where is the EMA21 and EMA34 at 4H for the moment. It's like we are able to see a microscopic and bird's eye views at the same time using a single time frame chart.
Indicador Pine Script®
por TheDemonTrader
4
ICT Killzones and Sessions W/ Silver Bullet + MacrosForex and Equity Session Tracker with Killzones, Silver Bullet, and Macro Times This Pine Script indicator is a comprehensive timekeeping tool designed specifically for ICT traders using any time-based strategy. It helps you visualize and keep track of forex and equity session times, kill zones, macro times, and silver bullet hours. Features: Session and Killzone Lines: Green: London Open (LO) White: New York (NY) Orange: Australian (AU) Purple: Asian (AS) Includes AM and PM session markers. Dotted/Striped Lines indicate overlapping kill zones within the session timeline. Customization Options: Display sessions and killzones in collapsed or full view. Hide specific sessions or killzones based on your preferences. Customize colors, texts, and sizes. Option to hide drawings older than the current day. Automatic Updates: The indicator draws all lines and boxes at the start of a new day. Automatically adjusts time-based boxes according to the New York timezone. Killzone Time Windows (for indices): London KZ: 02:00 - 05:00 New York AM KZ: 07:00 - 10:00 New York PM KZ: 13:30 - 16:00 Silver Bullet Times: 03:00 - 04:00 10:00 - 11:00 14:00 - 15:00 Macro Times: 02:33 - 03:00 04:03 - 04:30 08:50 - 09:10 09:50 - 10:10 10:50 - 11:10 11:50 - 12:50 Latest Update: January 15: Added option to automatically change text coloring based on the chart. Included additional optional macro times per user request: 12:50 - 13:10 13:50 - 14:15 14:50 - 15:10 15:50 - 16:15 Usage: To maximize your experience, minimize the pane where the script is drawn. This minimizes distractions while keeping the essential time markers visible. The script is designed to help traders by clearly annotating key trading periods without overwhelming their charts. Originality and Justification: This indicator uniquely integrates various time-based strategies essential for ICT traders. Unlike other indicators, it consolidates session times, kill zones, macro times, and silver bullet hours into one comprehensive tool. This allows traders to have a clear and organized view of critical trading periods, facilitating better decision-making. Credits: This script incorporates open-source elements with significant improvements to enhance functionality and user experience. Forex and Equity Session Tracker with Killzones, Silver Bullet, and Macro Times This Pine Script indicator is a comprehensive timekeeping tool designed specifically for ICT traders using any time-based strategy. It helps you visualize and keep track of forex and equity session times, kill zones, macro times, and silver bullet hours. Features: Session and Killzone Lines: Green: London Open (LO) White: New York (NY) Orange: Australian (AU) Purple: Asian (AS) Includes AM and PM session markers. Dotted/Striped Lines indicate overlapping kill zones within the session timeline. Customization Options: Display sessions and killzones in collapsed or full view. Hide specific sessions or killzones based on your preferences. Customize colors, texts, and sizes. Option to hide drawings older than the current day. Automatic Updates: The indicator draws all lines and boxes at the start of a new day. Automatically adjusts time-based boxes according to the New York timezone. Killzone Time Windows (for indices): London KZ: 02:00 - 05:00 New York AM KZ: 07:00 - 10:00 New York PM KZ: 13:30 - 16:00 Silver Bullet Times: 03:00 - 04:00 10:00 - 11:00 14:00 - 15:00 Macro Times: 02:33 - 03:00 04:03 - 04:30 08:50 - 09:10 09:50 - 10:10 10:50 - 11:10 11:50 - 12:50 Latest Update: January 15: Added option to automatically change text coloring based on the chart. Included additional optional macro times per user request: 12:50 - 13:10 13:50 - 14:15 14:50 - 15:10 15:50 - 16:15 ICT Sessions and Kill Zones What They Are: ICT Sessions: These are specific times during the trading day when market activity is expected to be higher, such as the London Open, New York Open, and the Asian session. Kill Zones: These are specific time windows within these sessions where the probability of significant price movements is higher. For example, the New York AM Kill Zone is typically from 8:30 AM to 11:00 AM EST. How to Use Them: Identify the Session: Determine which trading session you are in (London, New York, or Asian). Focus on Kill Zones: Within that session, focus on the kill zones for potential trade setups. For instance, during the New York session, look for setups between 8:30 AM and 11:00 AM EST. Silver Bullets What They Are: Silver Bullets: These are specific, high-probability trade setups that occur within the kill zones. They are designed to be "one shot, one kill" trades, meaning they aim for precise and effective entries and exits. How to Use Them: Time-Based Setup: Look for these setups within the designated kill zones. For example, between 10:00 AM and 11:00 AM for the New York AM session . Chart Analysis: Start with higher time frames like the 15-minute chart and then refine down to 5-minute and 1-minute charts to identify imbalances or specific patterns . Macros What They Are: Macros: These are broader market conditions and trends that influence your trading decisions. They include understanding the overall market direction, seasonal tendencies, and the Commitment of Traders (COT) reports. How to Use Them: Understand Market Conditions: Be aware of the macroeconomic factors and market conditions that could affect price movements. Seasonal Tendencies: Know the seasonal patterns that might influence the market direction. COT Reports: Use the Commitment of Traders reports to understand the positioning of large traders and commercial hedgers . Putting It All Together Preparation: Understand the macro conditions and review the COT reports. Session and Kill Zone: Identify the trading session and focus on the kill zones. Silver Bullet Setup: Look for high-probability setups within the kill zones using refined chart analysis. Execution: Execute the trade with precision, aiming for a "one shot, one kill" outcome. By following these steps, you can effectively use ICT sessions, kill zones, silver bullets, and macros to enhance your trading strategy. Usage: To maximize your experience, shrink the pane where the script is drawn. This minimizes distractions while keeping the essential time markers visible. The script is designed to help traders by clearly annotating key trading periods without overwhelming their charts. Originality and Justification: This indicator uniquely integrates various time-based strategies essential for ICT traders. Unlike other indicators, it consolidates session times, kill zones, macro times, and silver bullet hours into one comprehensive tool. This allows traders to have a clear and organized view of critical trading periods, facilitating better decision-making. Credits: This script incorporates open-source elements with significant improvements to enhance functionality and user experience. All credit goes to itradesize for the SB + Macro boxes
Indicador Pine Script®
por SpxGh0st
5
Market Structure & Liquidity: CHoCHs+Nested Pivots+FVGs+Sweeps//Purpose: This indicator combines several tools to help traders track and interpret price action/market structure; It can be divided into 4 parts; 1. CHoCHs, 2. Nested Pivot highs & lows, 3. Grade sweeps, 4. FVGs. This gives the trader a toolkit for determining market structure and shifts in market structure to help determine a bull or bear bias, whether it be short-term, med-term or long-term. This indicator also helps traders in determining liquidity targets: wether they be voids/gaps (FVGS) or old highs/lows+ typical sweep distances. Finally, the incorporation of HTF CHoCH levels printing on your LTF chart helps keep the bigger picture in mind and tells traders at a glance if they're above of below Custom HTF CHoCH up or CHoCH down (these HTF CHoCHs can be anything from Hourly up to Monthly). //Nomenclature: CHoCH = Change of Character STH/STL = short-term high or low MTH/MTL = medium-term high or low LTH/LTL = long-term high or low FVG = Fair value gap CE = consequent encroachement (the midline of a FVG) ~~~ The Four components of this indicator ~~~ 1. CHoCHs: •Best demonstrated in the below charts. This was a method taught to me by @Icecold_crypto. Once a 3 bar fractal pivot gets broken, we count backwards the consecutive higher lows or lower highs, then identify the CHoCH as the opposite end of the candle which ended the consecutive backwards count. This CHoCH (UP or DOWN) then becomes a level to watch, if price passes through it in earnest a trader would consider shifting their bias as market structure is deemed to have shifted. •HTF CHoCHs: Option to print Higher time frame chochs (default on) of user input HTF. This prints only the last UP choch and only the last DOWN choch from the input HTF. Solid line by default so as to distinguish from local/chart-time CHoCHs. Can be any Higher timeframe you like. •Show on table: toggle on show table(above/below) option to show in table cells (top right): is price above the latest HTF UP choch, or is price below HTF DOWN choch (or is it sat between the two, in a state of 'uncertainty'). •Most recent CHoCHs which have not been met by price will extend 10 bars into the future. • USER INPUTS: overall setting: SHOW CHOCHS | Set bars lookback number to limit historical Chochs. Set Live CHoCHs number to control the number of active recent chochs unmet by price. Toggle shrink chochs once hit to declutter chart and minimize old chochs to their origin bars. Set Multi-timeframe color override : to make Color choices auto-set to your preference color for each of 1m, 5m, 15m, H, 4H, D, W, M (where up and down are same color, but 'up' icon for up chochs and down icon for down chochs remain printing as normal) 2. Nested Pivot Highs & Lows; aka 'Pivot Highs & Lows (ST/MT/LT)' •Based on a seperate, longer lookback/lookforward pivot calculation. Identifies Pivot highs and lows with a 'spikeyness' filter (filtering out weak/rounded/unimpressive Pivot highs/lows) •by 'nested' I mean that the pivot highs are graded based on whether a pivot high sits between two lower pivot highs or vice versa. --for example: STH = normal pivot. MTH is pivot high with a lower STH on either side. LTH is a pivot high with a lower MTH on either side. Same applies to pivot lows (STL/MTL/LTL) •This is a useful way to measure the significance of a high or low. Both in terms of how much it might be typically swept by (see later) and what it would imply for HTF bias were we to break through it in earnest (more than just a sweep). • USER INPUTS: overall setting: show pivot highs & lows | Bars lookback (historical pivots to show) | Pivots: lookback/lookforward length (determines the scale of your pivot highs/lows) | toggle on/off Apply 'Spikeyness' filter (filters out smooth/unimpressive pivot highs/lows). Set Spikeyness index (determines the strength of this filter if turned on) | Individually toggle on each of STH, MTH, LTH, STL, MTL, LTL along with their label text type , and size . Toggle on/off line for each of these Pivot highs/lows. | Set label spacer (atr multiples above / below) | set line style and line width 3. Grade Sweeps: •These are directly related to the nested pivots described above. Most assets will have a typical sweep distance. I've added some of my expected sweeps for various assets in the indicator tooltips. --i.e. Eur/Usd 10-20-30 pips is a typical 'grade' sweep. S&P HKEX:5 - HKEX:10 is a typical grade sweep. •Each of the ST/MT/LT pivot highs and lows have optional user defined grade sweep boxes which paint above until filled (or user option for historical filled boxes to remain). •Numbers entered into sweep input boxes are auto converted into appropriate units (i.e. pips for FX, $ or 'handles' for indices, $ for Crypto. Very low $ units can be input for low unit value crypto altcoins. • USER INPUTS: overall setting: Show sweep boxes | individually select colors of each of STH, MTH, LTH, STL, MTL, LTL sweep boxes. | Set Grade sweep ($/pips) number for each of ST, MT, LT. This auto converts between pips and $ (i.e. FX vs Indices/Crypto). Can be a float as small or large as you like ($0.000001 to HKEX:1000 ). | Set box text position (horizontal & vertical) and size , and color . | Set Box width (bars) (for non extended/ non-auto-terminating at price boxes). | toggle on/off Extend boxes/lines right . | Toggle on/off Shrink Grade sweeps on fill (they will disappear in realtime when filled/passed through) 4. FVGs: •Fair Value gaps. Represent 'naked' candle bodies where the wicks to either side do not meet, forming a 'gap' of sorts which has a tendency to fill, or at least to fill to midline (CE). •These are ICT concepts. 'UP' FVGS are known as BISIs (Buyside imbalance, sellside inefficiency); 'DOWN' FVGs are known as SIBIs (Sellside imbalance, buyside inefficiency). • USER INPUTS: overall setting: show FVGs | Bars lookback (history). | Choose to display: 'UP' FVGs (BISI) and/or 'DOWN FVGs (SIBI) . Choose to display the midline: CE , the color and the line style . Choose threshold: use CE (as opposed to Full Fill) |toggle on/off Shrink FVG on fill (CE hit or Full fill) (declutter chart/see backtesting history) ////••Alerts (general notes & cautionary notes):: •Alerts are optional for most of the levels printed by this indicator. Set them via the three dots on indicator status line. •Due to dynamic repainting of levels, alerts should be used with caution. Best use these alerts either for Higher time frame levels, or when closely monitoring price. --E.g. You may set an alert for down-fill of the latest FVG below; but price will keep marching up; form a newer/higher FVG, and the alert will trigger on THAT FVG being down-filled (not the original) •Available Alerts: -FVG(BISI) cross above threshold(CE or full-fill; user choice). Same with FVG(SIBI). -HTF last CHoCH down, cross below | HTF last CHoCH up, cross above. -last CHoCH down, cross below | last CHoCH up, cross above. -LTH cross above, MTH cross above, STH cross above | LTL cross below, MTL cross below, STL cross below. ////••Formatting (general):: •all table text color is set from the 'Pivot highs & Lows (ST, MT, LT)' section (for those of you who prefer black backgrounds). •User choice of Line-style, line color, line width. Same with Boxes. Icon choice for chochs. Char or label text choices for ST/MT/LT pivot highs & lows. ////••User Inputs (general): •Each of the 4 components of this indicator can be easily toggled on/off independently. •Quite a lot of options and toggle boxes, as described in full above. Please take your time and read through all the tooltips (hover over '!' icon) to get an idea of formatting options. •Several Lookback periods defined in bars to control how much history is shown for each of the 4 components of this indicator. •'Shrink on fill' settings on FVGs and CHoCHs: Basically a way to declutter chart; toggle on/off depending on if you're backtesting or reading live price action. •Table Display: applies to ST/MT/LT pivot highs and to HTF CHoCHs; Toggle table on or off (in part or in full) ////••Credits: •Credit to ICT (Inner Circle Trader) for some of the concepts used in this indicator (FVGS & CEs; Grade sweeps). •Credit to @Icecold_crypto for the specific and novel concept of identifying CHoCHs in a simple, objective and effective manner (as demonstrated in the 1st chart below). CHoCH demo page 1: shifting tweak; arrow diagrams to demonstrate how CHoCHs are defined: CHoCH demo page 2: Simplified view; short lookback history; few CHoCHs, demo of 'latest' choch being extended into the future by 10 bars: USAGE: Bitcoin Hourly using HTF daily CHoCHs: USAGE-2: Cotton Futures (CT1!) 2hr. Painting a rather bullish picture. Above HTF UP CHoCH, Local CHoCHs show bullish order flow, Nice targets above (MTH/LTH + grade sweeps): Full Demo; 5min chart; CHoCHs, Short term pivot highs/lows, grade sweeps, FVGs: Full Demo, Eur/Usd 15m: STH, MTH, LTH grade sweeps, CHoCHs, Usage for finding bias (part A): Full Demo, Eur/Usd 15m: STH, MTH, LTH grade sweeps, CHoCHs, Usage for finding bias, 3hrs later (part B): Realtime Vs Backtesting(A): btc/usd 15m; FVGs and CHoCHs: shrink on fill, once filled they repaint discreetly on their origin bar only. Realtime (Shrink on fill, declutter chart): Realtime Vs Backtesting(B): btc/usd 15m; FVGs and CHoCHs: DON'T shrink on fill; they extend to the point where price crosses them, and fix/paint there. Backtesting (seeing historical behaviour):
Indicador Pine Script®
por twingall
18
Volatility Forecast/*============================================================================== Volatility Forecast — Publishable Documentation Author: @BB_9791 License: Mozilla Public License 2.0 WHAT THIS INDICATOR SHOWS - A daily volatility estimate in percent points, called sigma_day. - A slow volatility anchor, the 10-year EMA of sigma_day. - A blended volatility series in percent points: sigma_blend = (1 − p) * sigma_day + p * EMA_10y(sigma_day) where p is the Slow weight %, default 30. - Optional annualization by multiplying by 16, this is a daily-to-annual conversion used by Robert Carver in his writings. METHODOLOGY, CREDIT The estimator follows the approach popularized by Robert Carver ("Systematic Trading", "Advanced Futures Trading Strategies", blog qoppac). Current daily volatility is computed as an exponentially weighted standard deviation of daily percent returns, with alpha = 2 / (span + 1). The slow leg is a long EMA of that volatility series, about 10 years. The blend uses fixed weights. This keeps the slow leg meaningful through large price level changes, since the blend is done in percent space first. MATH DETAILS Let r_t be daily percent return: r_t = 100 * (Close_t / Close_{t−1} − 1) EWMA mean and variance: m_t = α * r_t + (1 − α) * m_{t−1} v_t = α * (r_t − m_t)^2 + (1 − α) * v_{t−1} where α = 2 / (span_current + 1) Current daily sigma in percent points: sigma_day = sqrt(v_t) Slow leg: sigma_10y = EMA(sigma_day, span_long) Blend: sigma_blend = (1 − p) * sigma_day + p * sigma_10y Annualized option: sigma_ann = 16 * sigma_blend INPUTS - Threshold (percent points): horizontal guide level on the chart. - Short term span (days): EW stdev span for sigma_day. - Long term span (days): EMA span for the slow leg, choose about 2500 for 10 years. - Slow weight %: p in the blend. - Annualize (x16): plot daily or annualized values. - Show components: toggles Current and 10y EMA lines. - The script uses the chart symbol by default. PLOTS - Blended σ% as the main line. - Optional Current σ% and 10y EMA σ%. - Editable horizontal threshold line in the same units as the plot (percent points per day or per year). - Optional EMA 9 and EMA 20 cloud on the blended series, green for uptrend when EMA 9 is above EMA 20, red otherwise. Opacity is configurable. HOW TO READ - Values are percent points of movement per day when not annualized, for example 1.2 means about 1.2% typical daily move. - With annualize checked, values are percent points per year, for example 18 means about 18% annualized volatility. - Use the threshold and the EMA cloud to mark high or low volatility regimes. NOTES - All calculations use daily data via request.security at the chart symbol. - The blend is done in percent space, then optionally annualized, which avoids bias from the price level. - This script does not produce trading signals by itself, it is a risk and regime indicator. CREDITS Volatility forecasting method and scaling convention credited to Robert Carver. See his books and blog for background and parameter choices. VERSION v1.0 Initial public release. ==============================================================================*/
Indicador Pine Script®
por BB_9791
DMI MTF Color Table v5DMI Multi-Timeframe Color Table v5 A comprehensive DMI (Directional Movement Index) table that displays trend direction and strength across multiple timeframes simultaneously. This indicator helps traders quickly assess market conditions and identify confluence across different time horizons. Features: Multi-timeframe analysis (7 configurable timeframes) Color-coded cells based on trend strength and direction Real-time current market condition display Customizable strength thresholds and color schemes Multiple display modes (All, DI+ Only, DI- Only, ADX Only) Text-based strength classifications (STRONG/MEDIUM/WEAK) Directional bias indicators (BULL/BEAR) How It Works: The table shows DI+, DI-, and ADX values across your chosen timeframes with intelligent color coding: Green shades indicate bullish momentum (DI+ > DI-) Red shades indicate bearish momentum (DI- > DI+) Color intensity reflects trend strength based on ADX values Current market condition appears in top-right corner Display Options: Toggle numerical values, strength text, and timeframe labels Adjustable table size and transparency Customizable color schemes for all conditions Optional current timeframe DMI plot overlay Educational Use: This tool is designed for educational purposes to help understand multi-timeframe analysis and DMI interpretation. All trading decisions should be based on your own analysis and risk management. Credits: Original concept and development by Profitgang. If you use or modify this script, please provide appropriate credit to the original author. Note: This indicator is for analysis purposes only. Past performance does not guarantee future results. Always conduct your own research and consider your risk tolerance before making trading decisions.
Indicador Pine Script®
por profitgang
SPX IB Intraday Real TimeThis indicator was designed for traders doing Iron Butterflies intradays with the SPX. Draw and assemble the picture of an IB with the call and put wings chosen according to the selected configuration. Additionally, it shows both breakevens according to the credit obtained. The indicator shows the distance, in real time, between the current price of the SPX and the breakevens (calls and puts) that have been selected. This result is shown in percentages and points. In the upper right corner (for calls) and lower right (for puts). The label will change color as the price moves closer or further away from the breakevens. Setting: Open Time (Hour): IB opening time. Open Time (Minute): IB opening minutes. Open Price: Strike to which the center or body of the IB was opened. Auto Price Open: If enabled, it will take the strike at the price closest to the SPX. Wings Width: width of the IB wings. Credit: Refers to the credit obtained according to the IB that was opened. Shows Breakeven: Shows breakeven points at expiration based on credit earned. Add SMAs: Adds the SMAs 8, 20 and 50 to the chart. Note 1: It is recommended to use TradingView's Dark Theme Color. Note 2: this indicator will only work in intraday times of less than 30 minutes (1m,2m,5m,10m,15m,30m) and will only show results while the market is open, that is, in real time. ************************************ Spanish Version: Este indicador fue diseñado para los traders que hacen intradías de Iron Butterflies con el SPX. Dibuja y arma el cuadro de un IB con las alas call y puts elegidas de acuerdo a la configuración seleccionada. Además, muestra ambos breakevens según el crédito obtenido. El indicador muestra la distancia, en tiempo real, entre el actual precio del SPX y los breakevens (calls y puts) que se hayan seleccionado. Este resultado se muestra en porcentajes y en puntos. En la esquina superior derecha (para los calls) e inferior derecha (para los puts). El label cambiará de color a medida que el precio se acerque o aleje de los breakevens. Configuración: Open Time (Hour): Hora de apertura del IB. Open Time (Minute): Minutos de apertura del IB. Open Price: Strike al que se abrió el centro o cuerpo del IB. Auto Price Open: Si se encuentra habilitado tomará el strike al precio más cercano al SPX. Wings Width: ancho de las alas del IB. Credit: Se refiere al crédito obtenido según el IB que se abrió. Shows Breakeven: Muestra los puntos de breakeven en la expiración según el crédito obtenido. Add SMAs: Agrega al cuadro las SMA 8, 20 y 50. Nota 1: se recomienda usar el Dark Theme Color de TradingView. Nota 2: este indicador solo funcionará en temporalidades intradías menores a 30 minutos (1m,2m,5m,10m,15m,30m) y solo mostrará resultados mientras el mercado esté abierto, o sea en tiempo real.
Indicador Pine Script®
por seba34e
2
[TTI] NDR 63-Day QQQ-QQEW ROC% SpreadWelcome to the NDR 63-Day QQQ-QQEW ROC% Spread script! This script is a powerful tool that calculates and visualizes the 63-day Rate of Change (ROC%) spread between the QQQ and QQEW tickers. This script is based on the research conducted by Ned Davis Research (NDR), a renowned name in the field of investment strategy. ⚙️ Key Features: 👉Rate of Change Calculation: The script calculates the 63-day Rate of Change (ROC%) for both QQQ and QQEW tickers. The ROC% is a momentum oscillator that measures the percentage price change over a given time period. 👉Spread Calculation: The script calculates the spread between the ROC% of QQQ and QQEW. This spread can be used to identify potential trading opportunities. 👉Visual Representation: The script plots the spread on the chart, providing a visual representation of the ROC% spread. This can help traders to easily identify trends and patterns. 👉Warning Lines: The script includes warning lines at +600 and -600 levels. These lines can be used as potential thresholds for trading decisions. Usage: To use this script, simply add it to your TradingView chart. The script will automatically calculate the ROC% for QQQ and QQEW and plot the spread on the chart. You can use this information to inform your trading decisions. 🚨 Disclaimer: This script is provided for educational purposes only and is not intended as investment advice. Trading involves risk and is not suitable for all investors. Please consult with a financial advisor before making any investment decisions. 🎖️ Credits: This script is based on the research conducted by Ned Davis Research (NDR). All credit for the underlying methodology and concept goes to NDR.
Indicador Pine Script®
por TintinTrading
Phoenix085-Studies-PerCentage Current Price ((fib-pivot-%))Misc Details : Another Indicator and Totally my own concept... If others have similar study already then Credit to them for coming up with this even before I did but this is just me fiddling with pinescript trying to paint my dream like a great man once said... Background : I am a strong believer of Market being Fractals and what best way to script it than Pivots. So I just wanted to identify the Pivot High and Pivot Low of some period(in the script it is set to 500, please do play with it to get the best setting which captures atleast the major highs and lows of recent past) I also think that Fibonacci levels are very crucial and so wanted to see how the market reacts at the Fibonacci ratios from Pivot High and Low. Overview : As said above the price at Pivot Low is considered as 0% on the graph and Value at Pivot High as the 100%. Depending on the CMP, the thick white line is plotted... The main thing of interest here is the Horizontal lines are Fib Levels and the market kinda reacts around those levels as the buyers and sellers have to come to equilibrium... A price retracing from the 100% level just means Double Top = Sell(Probable) and a bounce from the 0% just means a double bottom = Buy(Probable).... Also this indicator along with my other Public indicator() might give a better understanding of the price actions (I Hope)... This is free to use and share with as many as you like... Credits: All the great people who have greatly influenced and still continue to do so... @JustUncleL @BigBitsIO @TheArtofTrading @QuantNomad @SquigglesNiggles and many many many more
Indicador Pine Script®
por Phoenix085
2