[TR] Engulf Patterns by SM
Engulf Pattern by SM
Overview:
The " Engulf Pattern by SM" script is designed to identify bullish and bearish engulfing candlestick patterns on TradingView charts. Engulfing patterns are significant in technical analysis as they often indicate potential reversals in market trends.
Features:
- Bullish Engulfing Pattern Detection: The script identifies bullish engulfing patterns, which occur when a larger bullish candle completely engulfs the body of the previous smaller bearish candle.
- Bearish Engulfing Pattern Detection: Similarly, it detects bearish engulfing patterns, where a larger bearish candle engulfs the body of the preceding smaller bullish candle.
- Body Size Filtering: The script includes a feature to filter patterns based on the size of the candle bodies, allowing for more precise marking of significant patterns.
- Visual Markers: The script plots visual markers on the chart to highlight the detected engulfing patterns, making it easy for traders to spot them.
How It Works:
1. Bullish Engulfing Pattern:
- The script checks for a smaller bearish candle followed by a larger bullish candle.
- The body of the bullish candle must completely cover the body of the bearish candle.
- The size of the bullish candle's body must meet a specified threshold to be considered significant.
2. Bearish Engulfing Pattern:
- The script looks for a smaller bullish candle followed by a larger bearish candle.
- The body of the bearish candle must completely engulf the body of the bullish candle.
- The size of the bearish candle's body must meet a specified threshold to be considered significant.
Usage:
- Add the Script: Apply the " Engulf Pattern by SM" script to your TradingView chart.
- Configure Settings: Customize the script settings to suit your trading strategy, including visual marker styles and body size thresholds.
- Monitor Visual Markers: Keep an eye on the visual markers to identify potential trading opportunities based on engulfing patterns.
Disclaimer:
This script is not intended to be used as a direct entry signal. It should be used as a confluence in your overall trading plan. Always conduct your own analysis and consider multiple factors before making any trading decisions.
Feel free to customize this writeup further to match your specific needs! If you have any other requests or need additional details, just let me know.
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Swing High/Low & EMA Cross AlertScript Description:
This script on TradingView combines the detection of Swing High/Low points with exponential moving average (EMA) crossovers to provide buy and sell alerts and to mark swing points on the chart.
What the Script Does:
Swing High/Low Detection:
Uses the ta.pivothigh function to detect significant high points and the ta.pivotlow function to detect significant low points.
For each detected point, the script checks if it is a new higher high (HH) or lower high (LH) for the highs, and a new lower low (LL) or higher low (HL) for the lows.
Creates visual labels to identify these points on the chart, helping traders to visualize potential reversal points.
EMA Crossover:
Calculates two EMAs: a fast EMA (fastEMA) with a default period of 50 and a slow EMA (slowEMA) with a default period of 200.
Detects bullish crossovers (when fastEMA crosses above slowEMA) and bearish crossunders (when fastEMA crosses below slowEMA).
Generates buy and sell alerts based on these crossovers.
How the Script Works:
EMA Calculation: EMAs are calculated using the closing prices and user-defined periods.
Swing High/Low Detection: Uses the high and low values from the previous length bars to determine the swing points.
Alert Generation: Alerts are triggered when crossovers between the EMAs occur.
How to Use the Script:
Add to Chart: Insert the script into TradingView and apply it to the desired chart.
Configure Parameters:
Adjust the detection period for swing points (length).
Configure the periods for the EMAs (fastLen and slowLen).
Customize the colors for the swing point labels as per your preference.
Monitor Alerts: Use the EMA crossover alerts to make buy or sell decisions. Observe the swing point labels to identify potential trend reversals.
Justification for the Combination:
EMAs: Widely used to identify trend direction. Combining a fast EMA with a slow EMA helps capture both short-term and long-term trend changes.
Swing High/Low: Identifies reversal points in price, which are crucial for determining potential entry and exit points in trades.
Combination:
Combining EMAs and Swing High/Low provides a comprehensive view of price behavior, helping traders to effectively identify trends and reversal points.
This script is useful for traders who want to combine trend analysis (via EMAs) with the identification of reversal points (Swing High/Low), providing a more complete view of price behavior on the chart.
ATR5 Gerchik&CoThis script is designed to calculate and display the Average True Range (ATR) based on the last 5 bars on a daily (D1) chart. The ATR is a key indicator used to measure market volatility by decomposing the entire range of an asset price for that period. Additionally, the script provides a visual representation of the percentage of the current day's range relative to the calculated ATR.
How It Works
Calculation of ATR:
The script calculates the ATR by taking the high and low of each of the last 5 daily bars, computing the range for each bar, and then averaging these values.
The ATR value is then dynamically formatted based on the decimal places relevant to the asset's tick size.
Percentage of Current Day's Range:
The script also calculates the percentage of the current day's range compared to the ATR. This helps traders quickly assess how much of the average range has been covered today.
Visual Display:
The ATR value and the percentage of the current day's range are displayed in the top-right corner of the chart for easy reference.
Usage
Identifying Volatility: The ATR is a widely used indicator to identify periods of high and low volatility in the market. Traders can use this to adjust their strategies accordingly, such as widening or tightening stop-loss levels.
Entry and Exit Points: Knowing the ATR can help traders decide on optimal entry and exit points based on expected market movements.
Risk Management: By understanding the market volatility, traders can better manage their risk by adjusting position sizes and stop-loss levels.
Example
The script shows the ATR calculated over the last 5 days, formatted to match the asset's decimal places.
It also displays the current day's range as a percentage of the ATR, providing immediate insight into the day's volatility relative to the recent average.
How to Use
Apply the Script: Add the script to your TradingView chart.
Analyze the Display: Observe the ATR value and the percentage of the current day's range displayed in the top-right corner.
Make Informed Decisions: Use the information to make informed trading decisions based on the volatility and range of the asset.
Code Explanation
The script uses Pine Script v5 and includes functions to calculate the range of bars, average these ranges, and format the output appropriately. The ATR value and percentage are displayed using the table functionality to ensure clear and precise placement on the chart.
This description should provide users with a clear understanding of what the script does, how it can be used, and the concepts behind its calculations. Let me know if you need any further adjustments or additional details!
Psychological Levels [UkutaLabs]█ OVERVIEW
The Psychological Levels Indicator provides real-time insight into key price levels within the market that can serve as powerful support and resistance levels. These levels are updated automatically in real time to display only the most relevant levels to the current price, facilitating your trading experience.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
On each tick, the nearest key price level is automatically identified by the script. The script will identify this level based on the price of the commodity you are applying it to:
• Commodities priced at $0 to $999.99 will identify the nearest whole dollar.
• Commodities priced at $1,000 to $9,999.99 will identify the nearest $10.
• Commodities priced at $10,000 to $99,999.99 will identify the nearest $100.
• Commodities priced over $100,000 will identify the nearest $1,000.
We refer to this rounding price as the gap price, and it is also used to determine the prices of the other lines drawn by this script.
After identifying the nearest key price level, the script then incrementally draws lines on either side of this level at an interval of the gap price. We refer to these as the Major Lines, and the user can control the number of these lines that get drawn, the style of these lines, and they can be disabled in the settings.
The script then draws lines at the half-way point between each of these Major Lines, and we refer to these as the Minor Lines. Like the Major Lines, the user has full control over the number of these lines that can be drawn, the style of these lines, and they can be disabled in the settings.
█ SETTINGS
Configuration
• Number of Lines: Determines the number of lines that are drawn on either side of the key price line. This controls both the number of Major Lines and Minor Lines.
Line Settings
• Major Lines: Determines whether or not the Major Lines will be displayed.
- Color: Determines the color of Major Lines.
- Style: Determines the style of Major Lines.
- Width: Determines the width of Major Lines
• Minor Lines: Determines whether or not the Minor Lines will be displayed.
- Color: Determines the color of Minor Lines
- Style: Determines the style of Minor Lines
- Width: Determines the width of Minor Lines
Century Levels [UkutaLabs]█ OVERVIEW
The Century Levels Indicator provides real-time insight into key price levels within the market that can serve as powerful support and resistance levels. These levels are updated automatically in real time to display only the most relevant levels to the current price, facilitating your trading experience.
The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.
█ USAGE
On each tick, the nearest key price level is automatically identified by the script. The script will identify this level based on the price of the commodity you are applying it to:
• Commodities priced at $0 to $999.99 will identify the nearest whole dollar.
• Commodities priced at $1'000 to $9'999.99 will identify the nearest $10.
• Commodities priced at $10'000 to $99'999.99 will identify the nearest $100.
• Commodities priced over $1'000'000 will identify the nearest $1000.
We refer to this rounding price as the gap price, and it is also used to determine the prices of the other lines drawn by this script.
After identifying the nearest key price level, the script then incrementally draws lines on either side of this level at an interval of the gap price. We refer to these as the Major Lines, and the user can control the number of these lines that get drawn, the style of these lines, and they can be disabled in the settings.
The script then draws lines at the half-way point between each of these Major Lines, and we refer to these as the Minor Lines. Like the Major Lines, the user has full control over the number of these lines that can be drawn, the style of these lines, and they can be disabled in the settings.
█ SETTINGS
Configuration
• Number of Lines: Determines the number of lines that are drawn on either side of the key price line. This controls both the number of Major Lines and Minor Lines.
Line Settings
• Major Lines: Determines whether or not the Major Lines will be displayed.
- Color: Determines the color of Major Lines.
- Style: Determines the style of Major Lines.
- Width: Determines the width of Major Lines
• Minor Lines: Determines whether or not the Minor Lines will be displayed.
- Color: Determines the color of Minor Lines
- Style: Determines the style of Minor Lines
- Width: Determines the width of Minor Lines
TSF 20What kind of traders/investors are we?
We are trend followers. We look for assets that are outperforming the market. Our scripts are designed to be used on the higher timeframes (weekly/daily) to catch the large moves/trends in the market.
Our scripts have been designed to help you follow the trend in an asset.
What does this script do?
This script is designed to colour candles on a chart based on their position relative to two sets of Bollinger Bands. Here's a breakdown of how it functions:
Bollinger Bands Setup:
The script uses two sets of Bollinger Bands, both with a length of 20 and based on the closing prices of candles.
The first set of Bollinger Bands uses a standard deviation (StdDev) of 1.
The second set uses a standard deviation of 2.
Neither set of bands is displayed on the chart.
Coloring Candles:
Green Candle: A candle is coloured green if its close is above the upper Bollinger Band with StdDev 1 but below the upper Bollinger Band with StdDev 2. This indicates a moderately bullish sentiment.
Dark Green Candle: A candle is colored dark green when its close is above the upper Bollinger Band with StdDev 2. This implies a stronger bullish sentiment.
Red Candle: A candle is coloured red if its close is below the lower Bollinger Band with StdDev 1 but above the lower Bollinger Band with StdDev 2. This indicates a moderately bearish sentiment.
Dark Red Candle: A candle is colored dark red if its close is below the lower Bollinger Band with StdDev 2, indicating a stronger bearish sentiment.
Grey Candle: A candle is coloured grey if it closes between the upper and lower Bollinger Bands with StdDev 1. This usually signifies a neutral market condition or periods of consolidation.
In summary, this script is an analytical tool that visually represents the market's bullishness or bearishness relative to the Bollinger Bands, without displaying the bands themselves. It's designed to help investors quickly assess market conditions and sentiment based on the colour-coded representation of price action in relation to these volatility bands.
What makes this script unique?
Innovative Color-Coding System: Candles are colored in varying shades of green and red, providing an immediate visual cue about the market's bullish or bearish tendencies. A neutral grey is also used, offering a quick assessment of market indecision or consolidation phases.
Dual Bollinger Band Analysis: Utilizes two sets of Bollinger Bands (StdDev 1 and StdDev 2) to gauge market volatility and sentiment. This dual-band approach enhances the precision of sentiment analysis compared to using a single standard deviation.
Customizable and Non-Obtrusive: Designed to keep your charts clean and readable. The Bollinger Bands themselves are not displayed, reducing visual clutter and allowing for a focus on price action.
Versatile and Adaptable: Suitable for various trading styles and timeframes. Whether you are a short-term or long-term investor, this indicator can be seamlessly integrated into your analysis toolkit.
Valuable Addition to Market Analysis: Enhances traditional candlestick analysis and complements other technical indicators and strategies. It offers an additional layer of understanding market dynamics and can be used to confirm or question other signals.
How It Adds Value:
Enhanced Visual Analysis: By colour-coding candles based on Bollinger Band positioning, it simplifies the interpretation of market sentiment and volatility, making it easier to spot trends and reversals.
Strategic Decision Making: Helps traders make more informed decisions by clearly highlighting bullish and bearish strength, or lack thereof, in the market.
Time Efficiency: Reduces the time spent analyzing charts by providing an immediate visual representation of market conditions.
Originality: Offers a fresh perspective and an innovative approach to using Bollinger Bands, making it a unique addition to the community's toolbox.
Day/Week/Month Metrics (Zeiierman)█ Overview
The Day/Week/Month Metrics (Zeiierman) indicator is a powerful tool for traders looking to incorporate historical performance into their trading strategy. It computes statistical metrics related to the performance of a trading instrument on different time scales: daily, weekly, and monthly. Breaking down the performance into daily, weekly, and monthly metrics provides a granular view of the instrument's behavior.
The indicator requires the chart to be set on a daily timeframe.
█ Key Statistics
⚪ Day in month
The performance of financial markets can show variability across different days within a month. This phenomenon, often referred to as the "monthly effect" or "turn-of-the-month effect," suggests that certain days of the month, especially the first and last days, tend to exhibit higher than average returns in many stock markets around the world. This effect is attributed to various factors including payroll contributions, investment of monthly dividends, and psychological factors among traders and investors.
⚪ Edge
The Edge calculation identifies days within a month that consistently outperform the average monthly trading performance. It provides a statistical advantage by quantifying how often trading on these specific days yields better returns than the overall monthly average. This insight helps traders understand not just when returns might be higher, but also how reliable these patterns are over time. By focusing on days with a higher "Edge," traders can potentially increase their chances of success by aligning their strategies with historically more profitable days.
⚪ Month
Historically, the stock market has exhibited seasonal trends, with certain months showing distinct patterns of performance. One of the most well-documented patterns is the "Sell in May and go away" phenomenon, suggesting that the period from November to April has historically brought significantly stronger gains in many major stock indices compared to the period from May to October. This pattern highlights the potential impact of seasonal investor sentiment and activities on market performance.
⚪ Day in week
Various studies have identified the "day-of-the-week effect," where certain days of the week, particularly Monday and Friday, show different average returns compared to other weekdays. Historically, Mondays have been associated with lower or negative average returns in many markets, a phenomenon often linked to the settlement of trades from the previous week and negative news accumulation over the weekend. Fridays, on the other hand, might exhibit positive bias as investors adjust positions ahead of the weekend.
⚪ Week in month
The performance of markets can also vary within different weeks of the month, with some studies suggesting a "week of the month effect." Typically, the first and the last week of the month may show stronger performance compared to the middle weeks. This pattern can be influenced by factors such as the timing of economic reports, monthly investment flows, and options and futures expiration dates which tend to cluster around these periods, affecting investor behavior and market liquidity.
█ How It Works
⚪ Day in Month
For each day of the month (1-31), the script calculates the average percentage change between the opening and closing prices of a trading instrument. This metric helps identify which days have historically been more volatile or profitable.
It uses arrays to store the sum of percentage changes for each day and the total occurrences of each day to calculate the average percentage change.
⚪ Month
The script calculates the overall gain for each month (January-December) by comparing the closing price at the start of a month to the closing price at the end, expressed as a percentage. This metric offers insights into which months might offer better trading opportunities based on historical performance.
Monthly gains are tracked using arrays that store the sum of these gains for each month and the count of occurrences to calculate the average monthly gain.
⚪ Day in Week
Similar to the day in the month analysis, the script evaluates the average percentage change between the opening and closing prices for each day of the week (Monday-Sunday). This information can be used to assess which days of the week are typically more favorable for trading.
The script uses arrays to accumulate percentage changes and occurrences for each weekday, allowing for the calculation of average changes per day of the week.
⚪ Week in Month
The script assesses the performance of each week within a month, identifying the gain from the start to the end of each week, expressed as a percentage. This can help traders understand which weeks within a month may have historically presented better trading conditions.
It employs arrays to track the weekly gains and the number of weeks, using a counter to identify which week of the month it is (1-4), allowing for the calculation of average weekly gains.
█ How to Use
Traders can use this indicator to identify patterns or trends in the instrument's performance. For example, if a particular day of the week consistently shows a higher percentage of bullish closes, a trader might consider this in their strategy. Similarly, if certain months show stronger performance historically, this information could influence trading decisions.
Identifying High-Performance Days and Periods
Day in Month & Day in Week Analysis: By examining the average percentage change for each day of the month and week, traders can identify specific days that historically have shown higher volatility or profitability. This allows for targeted trading strategies, focusing on these high-performance days to maximize potential gains.
Month Analysis: Understanding which months have historically provided better returns enables traders to adjust their trading intensity or capital allocation in anticipation of seasonally stronger or weaker periods.
Week in Month Analysis: Identifying which weeks within a month have historically been more profitable can help traders plan their trades around these periods, potentially increasing their chances of success.
█ Settings
Enable or disable the types of statistics you want to display in the table.
Table Size: Users can select the size of the table displayed on the chart, ranging from "Tiny" to "Auto," which adjusts based on screen size.
Table Position: Users can choose the location of the table on the chart
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Table to filter trades per dayThis script contains a block of code that allows users to filter the total number of trades, loss trades, win trades and win rate per day in a table. This makes it easier to compare which days were profitable and which were not.
Be aware that this script can only be used in strategy scripts. To use the script, open it and copy every line from "START" to "STOP". Then, paste these lines at the very bottom of the strategy script that you want to attach it to.
The user has the ability to adjust the position of the table and customize the size of the text displayed.
If the user sets "Check when the trade:" to "Opened", the script will monitor when the trade opens and add it to the table once it has been closed. If "Check when the trade:" is set to "Closed", the script will track when the trade is closed and add it to the table once it has been closed.
It is recommended to run the script on the "Exchange" setting for more accurate results, even though a "Set the timezone" option is available. This will prevent discrepancies caused by daylight saving time changes.
Please note that the code will only work properly if you choose a daily timeframe or lower.
IU Support and Resistance How this script works :
1. This script is an indicator script which calculates the support and resistance based on pivot high and pivot low and plot them as zone onto the chart.
2. The first user input is minimum number of touches which indicates how many time pivot high or pivot low should be tested in order to be a valid support or resistance level.
3.The second user input "Set Buffer" check if the user wants to use a custom buffer or not if it's unchanged then the default is 50% of the 1000 period ATR value .
4. If "Set Buffer" is checked meaning if it's set to true then only the third user input will be execute which is the "buffer" which indicates how much price range user wants his zone to have.
5. After the user input part this script create two arrays to store the pivot high and pivot low values every time he have a new value.
6. This script also creates two arrays to store the bar index of the bar where the new pivot high or pivot low is detected those bar index will be later use while creating the support and resistance zones.
7. Then the script creates four more arrays to store the final support and resistance values and their respective bar index which will be use for creating the support and resistance zones.
8. After this the script check that we are at the last bar of our chart if we are then we sort the support and resistance indices by descending order and store them into an new variable after that we sort the support and resistance arrays by descending order, then we loop through the arrays elements and we check if the previous element comes under the zone of the current element if so we increase the "minimum touch" variable by 1, once we have 5 or more count in our variable and we no longer have a valid zone then we store the element value and the sorted index of the element into our final arrays.
9. Finally the script will loop through the final support and resistance arrays and it will create a box for each support and resistance with respect to extending it on both directions.
10.The green zones are the support and the red zones are the resistance.
How user can benifits from this script:
1. User can automatically identify support and resistance zones and he can plan his trade as per that.
2. User can test how different markets reacts with support and resistance zones.
3. User can plan breakout trade on the break of the support or resistance level.
4. User can adjust he stop loss and take profit as per the support and resistance zones.
Linear Reg CandlesThe provided Pine Script is a TradingView script for creating a technical analysis indicator called "Humble LinReg Candles." This script includes features such as linear regression for open, high, low, and close prices, signal smoothing with simple or exponential moving averages, and a trailing stop based on Average True Range (ATR). Additionally, the script contains a screener section to display signals for a list of specified symbols.
Here is a breakdown of the script:
Indicator Settings:
It defines various input parameters such as signal smoothing length, linear regression settings, and options for using simple moving averages.
Linear regression is applied to open, high, low, and close prices based on user-defined settings.
ATR Trailing Stop:
It calculates the Average True Range (ATR) and uses it to determine a trailing stop for buy and sell signals.
Signals are generated based on whether the close price is above or below the ATR trailing stop.
Plotting:
The script plots the calculated signal on the chart using the plot function.
Buy and Sell Conditions:
Buy and sell conditions are defined based on the relationship between the close price and the ATR trailing stop.
Plot shapes and bar colors are used to visually represent buy and sell signals on the chart.
Alerts:
Alerts are triggered when buy or sell conditions are met.
Screener Section:
The script defines a screener section to display a watchlist of symbols with long and short signals.
The watchlist includes a set of predefined symbols with corresponding long and short signals.
Table Theme Settings:
The script allows customization of the table theme, including background color, frame color, and text color.
The size and location of the table on the chart can also be customized.
Screener Function:
A function getSignal is defined to determine long and short signals for each symbol in the watchlist.
The getSym function is used to extract the symbol name from the symbol string.
Dashboard Creation:
The script creates a table (dashboard) to display long and short signals for the symbols in the watchlist.
The table includes headers for "Long Signal" and "Short Signal" and lists the symbols with corresponding signals.
Overall, the script combines technical analysis indicators and a screener to help traders identify potential buy and sell signals for a set of specified symbols.
Kiss Of DeathThis Pine Script code is designed to create a technical indicator on a TradingView chart known as the "Kiss of Death" signal. Here's a description of the script:
The script begins by specifying that it is intended for use with Pine Script version 5 (//@version=5) and sets the indicator's title to "Kiss of Death Signal" with indicator(title="Kiss of Death Signal", overlay=true).
The code calculates a 21-period Exponential Moving Average (EMA) of the closing prices (ema21 = ta.ema(close, 21)). The EMA is a commonly used trend-following indicator.
It also determines the lowest low of the previous two periods (prev_low = ta.lowest(low, 2)). This variable will be used in the signal condition.
The script then defines the signal condition for the "Kiss of Death" pattern. This pattern occurs when:
The current closing price is below the 21-period EMA (close < ema21).
The previous closing price is above or equal to the 21-period EMA (close >= ema21).
The current low is below the lowest low of the previous two periods (low < prev_low).
Next, it uses plot to display the 21-period EMA on the chart (plot(ema21, color=color.blue, title="21 EMA")), using a blue color.
Finally, the script utilizes plotshape to mark the points on the chart where the "Kiss of Death" signal condition is met. It places a red, downward-pointing triangle above the corresponding bars
In summary, this script provides a visual representation of the "Kiss of Death" signal on a TradingView chart, helping traders identify potential bearish reversal points based on the defined conditions. The 21-period EMA is also displayed to provide additional context.
What makes this script unique is that it specifically identifies and visualizes a specific technical pattern known as the "Kiss of Death". The "Kiss of Death" is a bearish reversal pattern that occurs when the current price falls below a specific moving average (in this case, a 21-period Exponential Moving Average or EMA) after previously being above it, and when the current low is below the lowest low of the previous two periods.
This script stands out because it provides a clear and visual representation of this particular pattern on a TradingView chart. By using a red, downward-pointing triangle above the bars, it helps traders quickly identify potential bearish reversal points based on the defined conditions.
The combination of a specific pattern, in this case the "Kiss of Death", along with a visual indicator, sets this script apart and makes it a useful tool for traders looking to identify potential bearish reversal points in their technical analysis.
Gap Statistics (Zeiierman)█ Overview
The Gap Statistics (Zeiierman) indicator is crafted to monitor, analyze, and visually present price gaps on a trading chart. Price gaps are areas on a chart where the price jumps up or down from the previous close to the next open, creating a "gap" in the normal price pattern. This script delivers an extensive range of statistics related to these gaps, encompassing their size, direction (whether bullish or bearish), frequency of getting filled, as well as the average number of bars it takes for a gap to be filled. The indicator also visually represents the gaps, making it easier for traders to spot and analyze them.
█ How It Works
Gap Identification: The script identifies gaps by comparing the open price of a bar to the close price of the previous bar. If there is a discrepancy between the two, it is recognized as a gap.
Gap Classification: Once a gap is identified, it is classified based on its size (as a percentage of the previous close price) and direction (bullish or bearish). The gap is then added to a specific category based on its size.
Gap Tracking: The script keeps track of all identified gaps using arrays and user-defined types, storing details like their size, direction, and whether they have been filled.
Gap Filling: The script continuously monitors the price to check if any previously identified gaps get filled. A gap is considered filled if the price moves back into the gap area.
Statistics and Alerts: The script calculates various statistics like the total number of gaps, the number of filled gaps, the average number of bars it takes for a gap to fill, and the percentage of gaps that get filled. It also generates alerts when a new gap is identified or an existing gap gets filled.
█ How to Use
Gaps are often classified into four main types:
Common Gaps: These are not associated with any major news and are likely to get filled quickly.
Breakaway Gaps: These occur at the end of a price pattern and signal the beginning of a new trend.
Runaway Gaps: Also known as continuation gaps, these occur in the middle of a trend and signal a surge in interest in the stock.
Exhaustion Gaps: These occur near the end of a price pattern and signal a final attempt to hit new highs or lows.
The Gap Statistics (Zeiierman) indicator enhances a trader's ability to use gaps in their trading strategy in several ways:
Statistical Analysis: Traders get comprehensive statistics on gaps, such as their size, direction, and how often they get filled.
Performance Tracking: The indicator tracks how many bars it typically takes for a gap to fill, providing traders with an average timeframe for gap closure.
█ Settings
Display Gaps: Choose to display "All Gaps," "Active Gaps," or "None."
Show Gap Size: Toggle on/off the display of the gap size.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
IU Average move How The Script Works :
1. This script calculate the average movement of the price in a user defined custom session and plot the data in a table from on top left corner of the chart.
2. The script takes highest and lowest value of that custom session and store their difference into an array.
3. Then the script average the array thus gets the average price.
4. Addition to that the script converter the price pip change into percentage in order to calculate the value in percentage form.
5. This script is pure price action based the script only take price value and doesn't take any indicator for calculation.
6. The script works on every type of market.
7. If the session is invalid it returns nothing
8. The background color, text color and transparency is changeable.
How User Can Benefit From This Script:
1. User can understand the volatility of any session that he/she wish to trade.
2. It can be helpful for understanding the average price moment of any tradeble asset.
3. It will give the average price movement both in percentage and points bases.
4. By understanding the volatility user can adjust his stop loss or take profit with respect his risk management.
Naresh CE with 13 62 crossThank you to Lauris, for sharing knowledge and logic for the EMA cross-over (13/62).
The provided Pine Script is a custom script, which is designed to display Chandelier Exit levels on the price chart and generate buy and sell labels based on specific conditions.
Here's a breakdown of the key components and logic of the Pine Script:
Exponential Moving Averages (EMAs):
ema1: The 13-period Exponential Moving Average (EMA) of the closing price.
ema2: The 62-period Exponential Moving Average (EMA) of the closing price.
EMA Plotting:
The script plots the ema1 (13 EMA) and ema2 (62 EMA) lines on the price chart using the plot() function.
Chandelier Exit Calculation:
The Chandelier Exit values are calculated using the Average True Range (ATR).
The script calculates the atr (Average True Range) using the atr() function with the given length.
longStop is calculated as the highest price of the specified length minus the ATR, and shortStop is calculated as the lowest price plus the ATR.
Directional Indicator (dir):
The dir variable is used to determine the direction of the Chandelier Exit based on the comparison of the current close price with the previous long and short stops.
Buy and Sell Signals:
The script generates buy signals when the Chandelier Exit direction changes from short to long (buySignal).
Similarly, sell signals are generated when the Chandelier Exit direction changes from long to short (sellSignal).
The conditions for buy and sell signals are based on the value of dir and its previous value.
Buy and Sell Labels:
Buy and sell labels are plotted on the chart using plotshape() based on the generated buy and sell signals.
The showLabels input parameter controls whether to display the buy and sell labels.
Highlighting States:
The script fills the chart area with color (green for long, red for short) based on the direction of the Chandelier Exit values.
The highlightState input parameter controls whether to apply this highlighting.
Alerts:
The script includes alert conditions based on the direction change (changeCond), buy signal (buySignal), and sell signal (sellSignal) using the alertcondition() function.
The script aims to help traders identify potential buy and sell signals based on the Chandelier Exit levels derived from the 13 EMA and 62 EMA crossovers. The Chandelier Exit values can serve as dynamic stop-loss levels for long and short positions.
Auto Fibonacci TP Levels [WJ]This script automatically draws Fibonacci levels on a trading chart which are popular tools for traders seeking to identify potential areas of support and resistance.
Here are the features and benefits of this script:
1. Versatility in Sourcing Trade Entries:
Trade source can be customized to either longs (buying trades) or shorts (selling trades). The user has the flexibility to adjust their entry points based on their trading strategy.
Up to 2 sources can be used, expand if you wish.
As it is coded now, the source you have to pick from has to have a 'plot' that sends a (long) or (short) and is equal to 1 and 2 respectively.
Example: In the script you want to use for Long and Shorts, make a plot like this:
plot(LONG ? 1 : SHORT ? 2 : 0, title = "⭐ Outbound signal", display = display.none, editable = false)
The variable name of the LONG and SHORT needs to be the same as the one your code is using to indicate those trades.
2. Flexible Fibonacci Start Points:
The starting points for drawing Fibonacci levels can be customized for both longs and shorts.
3. Configurable Historical Data Length:
Users can adjust the number of historical bars to analyze for calculating higher highs (HH) and lower lows (LL).
4. Informative Labels and Lines:
The script can be configured to show the distance from the entry point to the 0.618 Fibonacci level (the so-called "golden ratio"). This helps traders to visualize the risk-reward ratio of their trades.
It indicates when a Fibonacci level was crossed which could signal a potential reversal.
It allows users to display the golden pocket levels only (0.618 and 0.65) or all the Fibonacci levels.
5. Customizable Fibonacci Levels and Colors:
Users can define their preferred Fibonacci levels and assign specific colors to each of these levels. This helps in identifying different levels quickly and intuitively.
The script also includes functionality for setting stop loss levels for short and long positions, which helps in risk management.
6. Clear Visualization of Crossing Levels:
If a trade crosses a specific Fibonacci level, the script draws lines indicating the crossing. This can help traders to identify potential breakout or reversal points.
7. Calculation of Fibonacci Boxes:
For each Fibonacci level, the script creates a box that indicates the level's range on the chart. This visual aid can help traders to better understand the price movement within these levels.
8. Customizable Labels:
The script provides percentage difference labels at each Fibonacci level, displaying the difference between the price at that level and the price at the 0 Fibonacci level. This can help users quickly understand the price change in terms of percentage at each level.
9. Performance Efficiency:
The script uses arrays to store and manage the Fibonacci levels and their associated colors. This approach enhances the performance of the script, especially when processing a large amount of data.
10. Adaptability:
This script automatically adapts to market movements. When the price crosses a level, it identifies and records this event, aiding the trader's decision-making process.
Overall, this script is highly customizable, adaptable and provides a clear visual representation of important trading data, making it an effective tool for traders using Fibonacci levels in their strategies.
NOTE: If you can't see the fib lines, it is because they have already been triggered/touched by a candle and they are set to not continue after they are touched.
120x ticker screener (composite tickers)In specific circumstances, it is possible to extract data, far above the 40 `request.*()` call limit for 1 single script .
The following technique uses composite tickers . Changing tickers needs to be done in the code itself as will be explained further.
⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯
🔶 PRINCIPLE
Standard example:
c1 = request.security('MTLUSDT' , 'D', close)
This will give the close value from 1 ticker (MTLUSDT); c1 for example is 1.153
Now let's add 2 tickers to MTLUSDT; XMRUSDT and ORNUSDT with, for example, values of 1.153 (I), 143.4 (II) and 0.8242 (III) respectively.
Just adding them up 'MTLUSDT+XMRUSDT+ORNUSDT' would give 145.3772 as a result, which is not something we can use...
Let's multiply ORNUSDT by 100 -> 14340
and multiply MTLUSDT by 1000000000 -> 1153000000 (from now, 10e8 will be used instead of 1000000000)
Then we make the sum.
When we put this in a security call (just the close value) we get:
c1 = request.security('MTLUSDT*10e8+XMRUSDT*100+ORNUSDT', 'D', close)
'MTLUSDT*10e8+XMRUSDT*100+ORNUSDT' -> 1153000000 + 14340 + 0.8242 = 1153014340.8242 (a)
This (a) will be split later on, for example:
1153014330.8242 / 10e8 = 1.1530143408242 -> round -> in this case to 1.153 (I), multiply again by 10e8 -> 1153000000.00 (b)
We subtract this from the initial number:
1153014340.8242 (a)
- 1153000000.0000 (b)
–––––––––––––––––
14340.8242 (c)
Then -> 14340.8242 / 100 = 143.408242 -> round -> 143.4 (II) -> multiply -> 14340.0000 (d)
-> subtract
14340.8242 (c)
- 14340.0000 (d)
––––––––––––
0.8242 (III)
Now we have split the number again into 3 tickers: 1.153 (I), 143.4 (II) and 0.8242 (III)
⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯⎯
In this publication the function compose_3_() will make a composite ticker of 3 tickers, and the split_3_() function will split these 3 tickers again after passing 1 request.security() call.
In this example:
t46 = 'BINANCE:MTLUSDT', n46 = 10e8 , r46 = 3, t47 = 'BINANCE:XMRUSDT', n47 = 10e1, r47 = 1, t48 = 'BINANCE:ORNUSDT', r48 = 4 // T16
•••
T16= compose_3_(t48, t47, n47, t46, n46)
•••
= request.security(T16, res, )
•••
= split_3_(c16, n46, r46, n47, r47, r48)
🔶 CHANGING TICKERS
If you need to change tickers, you only have to change the first part of the script, USER DEFINED TICKERS
Back to our example, at line 26 in the code, you'll find:
t46 = 'BINANCE:MTLUSDT', n46 = 10e8 , r46 = 3, t47 = 'BINANCE:XMRUSDT', n47 = 10e1, r47 = 1, t48 = 'BINANCE:ORNUSDT', r48 = 4 // T16
( t46 , T16 ,... will be explained later)
You need to figure out how much you need to multiply each ticker, and the number for rounding, to get a good result.
In this case:
'BINANCE:MTLUSDT', multiply number = 10e8, round number is 3 (example value 1.153)
'BINANCE:XMRUSDT', multiply number = 10e1, round number is 1 (example value 143.4)
'BINANCE:ORNUSDT', NO multiply number, round number is 4 (example value 0.8242)
The value with most digits after the decimal point by preference is placed to the right side (ORNUSDT)
If you want to change these 3, how would you do so?
First pick your tickers and look for the round values, for example:
'MATICUSDT', example value = 0.5876 -> round -> 4
'LTCUSDT' , example value = 77.47 -> round -> 2
'ARBUSDT' , example value = 1.0231 -> round -> 4
Value with most digits after the decimal point -> MATIC or ARB, let's pick ARB to go on the right side, LTC at the left of ARB, and MATIC at the most left side.
-> 'MATICUSDT', LTCUSDT', ARBUSDT'
Then check with how much 'LTCUSDT' and 'MATICUSDT' needs to be multiplied to get this: 5876 0 7747 0 1.0231
'MATICUSDT' -> 10e10
'LTCUSDT' -> 10e3
Replace:
t46 = 'BINANCE:MTLUSDT', n46 = 10e8 , r46 = 3, t47 = 'BINANCE:XMRUSDT', n47 = 10e1, r47 = 1, t48 = 'BINANCE:ORNUSDT', r48 = 4 // T16
->
t46 = 'BINANCE:MATICUSDT', n46 = 10e10 , r46 = 4, t47 = 'BINANCE:LTCUSDT', n47 = 10e3, r47 = 2, t48 = 'BINANCE:ARBUSDT', r48 = 4 // T16
DO NOT change anything at t46, n46,... if you don't know what you're doing!
Only
• tickers ('BINANCE:MTLUSDT', 'BINANCE:XMRUSDT', 'BINANCE:ORNUSDT', ...),
• multiply numbers (10e8, 10e1, ...) and
• round numbers (3, 1, 4, ...)
should be changed.
There you go!
🔶 LIMITATIONS
🔹 The composite ticker fails when 1 of the 3 isn't in market in the weekend, while the other 2 are.
That is the reason all tickers are crypto. I think it is possible to combine stock,... tickers, but they have to share the same market hours.
🔹 The number cannot be as large as you want, the limit lays around 15-16 digits.
This means when you have for example 123, 45.67 and 0.000000000089, you'll get issues when composing to this:
-> 123045670.000000000089 (21 digits)
Make sure the numbers are close to each other as possible, with 1 zero (or 2) in between:
-> 1.230045670089 (13 digits by doing -> (123 * 10e-3) + (45.67 * 10e-7) + 0.000000000089)
🔹 This script contains examples of calculated values, % change, SMA, RMA and RSI.
These values need to be calculated from HTF close data at current TF (timeframe).
This gives challenges. For example the SMA / %change is not a problem (same values at 1h TF from Daily data).
RMA , RSI is not so easy though...
Daily values are rather similar on a 2-3h TF, but 1h TF and lower is quite different.
At the moment I haven't figured out why, if someone has an idea, don't hesitate to share.
The main goal of this publication is 'composite tickers ~ request.security()' though.
🔹 When a ticker value changes substantially (x10, x100), the multiply number needs to be adjusted accordingly.
🔶 SETTINGS
SHOW SETS
SET
• Length : length of SMA, RMA and RSI
• HTF : Higher TimeFrame (default Daily)
TABLE
• Size table : \ _ Self-explanatory
• Include exchange name : /
• Sort : If exchange names are shown, the exchanges will be sorted first
COLOURS
• CH%
• RSI
• SMA (RMA)
DEBUG
Remember t46 , T16 ,... ?
This can be used for debugging/checking
ALWAYS DISABLE " sort " when doing so.
Example:
Set string -> T1 (tickers FIL, CAKE, SOL)
(Numbers are slightly different due to time passing by between screen captures)
Placing your tickers at the side panel makes it easy to compare with the printed label below the table (right side, 332201415014.45 ),
together with the line T1 in the script:
t1 = 'BINANCE:FILUSDT' , n1 = 10e10, r1 = 4, t2 = 'BINANCE:CAKEUSDT' , n2 = 10e5 , r2 = 3, t3 = 'BINANCE:SOLUSDT' , r3 = 2 // T1
FIL : 3.322
CAKE: 1.415
SOL : 14.56
Now it is easy to check whether the tickers are placed close enough to each other, with 1-2 zero's in between.
If you want to check a specific ticker, use " Show Ticker" , see out initial example:
Set string -> T16
Show ticker -> 46 (in the code -> t46 = 'BINANCE:MTLUSDT')
(Set at 0 to disable " check string " and NONE to disable " Set string ")
-> Debug/check/set away! 😀
🔶 OTHER TECHNIQUES
• REGEX ( Regular expression ) and str.match() is used to delete the exchange name from the ticker, in other words, everything before ":" is deleted by following regex:
exch(t) => incl_exch ? t : str.match(t, "(?<=:) +")
• To sort, array.sort_indices() is used (line 675 in the code), just as in my first "sort" publication Sort array alphabetically - educational
aSort = arrT.copy()
sort_Indices = array.sort_indices(id= aSort, order= order.ascending)
• Numbers and text colour will adjust automatically when switching between light/dark mode by using chart.fg_color / chart.bg_color
🔹 DISCLAIMER
Please don't ask me for custom screeners, thank you.
Multiple Moving Average ToolkitFeatures Overview:
Multiple Moving Averages: The script allows you to plot up to five different Moving Averages (MAs) on your chart at the same time. You can choose the type of MA (EMA, SMA, HMA, WMA, DEMA, VWMA, VWAP) and the length of each one.
Color Ribbon: You can turn the MAs into a color ribbon by selecting the "Turn into Color Ribbon?" option. This will make the area between the MAs colored and can help you identify trends more easily.
MA Value Table: You can draw a table on your chart that displays the current values of each MA, whether the trend is bullish or bearish along with the length of the MAs. The current ATR value is also shown in the last cell of the table. You can choose the location of the table (Top Left, Top Right, Bottom Left, Bottom Right) and the transparency of the background color.
Crosses: The script can detect when two MAs cross over each other (1st MA crosses 5th MA and vice versa), indicating a potential trend reversal. It will plot crosses on the chart at the point of the crossover and give an alert if the "Bullish Cross Detected" or "Bearish Cross Detected" condition is met.
How to use:
Once the script is added to your chart, you can customize the settings to fit your preferences. You can choose the type and length of each MA, whether to turn them into a color ribbon, whether to plot crosses, and whether to draw the MA Value Table.
The MA Value Table can be moved to a different location on the chart by selecting the "Location of Table" option and choosing Top Left, Top Right, Bottom Left, or Bottom Right.
Watch for MA crossovers and alerts to identify potential trend reversals. The script can help you identify bullish and bearish trends by color-coding the area between the MAs and displaying the current values of each MA in the table.
Breakdown of the script:
User Inputs
The first section of the script defines several user inputs that allows you to customize the indicator. These include options for turning the MAs into a color ribbon, plotting crosses when there is a bullish or bearish cross of the MAs, drawing a table of the MA values, and setting the transparency of the ribbon. You can also select the location of the MA value table and customize the settings for each individual MA.
Moving Average Calculation
The script defines a function called "getMA" that calculates the moving average for a given type and length. The function uses a switch statement to determine which type of moving average to use, such as an exponential moving average (EMA), simple moving average (SMA), Hull moving average (HMA), weighted moving average (WMA), double exponential moving average (DEMA), volume-weighted moving average (VWMA), or volume-weighted average price (VWAP).
The script then calls this function to calculate the values of up to five different MAs, depending on the user input. The ATR (average true range) is also calculated using the TA library.
Color Filter and Cross Detection
The script sets a color filter based on the relationship between the MAs. If the shorter-term MAs are above the longer-term MAs, the filter is set to green to indicate a bullish trend, and if the shorter-term MAs are below the longer-term MAs, the filter is set to red to indicate a bearish trend. You can adjust the transparency of the ribbon to make it more or less visible.
The script also detects when there is a bullish or bearish cross of the MAs and can generate alerts to notify you.
MA Plotting
The script plots up to five MAs on the chart, depending on the user input. The MAs are plotted as lines with different colors and thicknesses, and you can choose to turn them into a color ribbon if desired.
Cross Plotting
The script plots crosses on the chart when there is a bullish or bearish cross of the MAs. The crosses are plotted as X shapes at the location of the cross and are color-coded to indicate the direction of the cross.
MA Value Table
Finally, the script draws a table of the MA values on the chart, displaying the values of each MA as well as the current trend and the ATR. You can customize the location of the table, and the table is colored to match the color filter of the MAs.
Feel free to message me or comment on the post with any questions or issues!
Much more to come!
Thanks for reading, enjoy!
JS-TechTrading: VWAP Momentum_Pullback StrategyGeneral Description and Unique Features of this Script
Introducing the VWAP Momentum-Pullback Strategy (long-only) that offers several unique features:
1. Our script/strategy utilizes Mark Minervini's Trend-Template as a qualifier for identifying stocks and other financial securities in confirmed uptrends.
NOTE: In this basic version of the script, the Trend-Template has to be used as a separate indicator on TradingView (Public Trend-Template indicators are available on TradingView – community scripts). It is recommended to only execute buy signals in case the stock or financial security is in a stage 2 uptrend, which means that the criteria of the trend-template are fulfilled.
2. Our strategy is based on the supply/demand balance in the market, making it timeless and effective across all timeframes. Whether you are day trading using 1- or 5-min charts or swing-trading using daily charts, this strategy can be applied and works very well.
3. We have also integrated technical indicators such as the RSI and the MA / VWAP crossover into this strategy to identify low-risk pullback entries in the context of confirmed uptrends. By doing so, the risk profile of this strategy and drawdowns are being reduced to an absolute minimum.
Minervini’s Trend-Template and the ‘Stage-Analysis’ of the Markets
This strategy is a so-called 'long-only' strategy. This means that we only take long positions, short positions are not considered.
The best market environment for such strategies are periods of stable upward trends in the so-called stage 2 - uptrend.
In stable upward trends, we increase our market exposure and risk.
In sideways markets and downward trends or bear markets, we reduce our exposure very quickly or go 100% to cash and wait for the markets to recover and improve. This allows us to avoid major losses and drawdowns.
This simple rule gives us a significant advantage over most undisciplined traders and amateurs!
'The Trend is your Friend'. This is a very old but true quote.
What's behind it???
• 98% of stocks made their biggest gains in a Phase 2 upward trend.
• If a stock is in a stable uptrend, this is evidence that larger institutions are buying the stock sustainably.
• By focusing on stocks that are in a stable uptrend, the chances of profit are significantly increased.
• In a stable uptrend, investors know exactly what to expect from further price developments. This makes it possible to locate low-risk entry points.
The goal is not to buy at the lowest price – the goal is to buy at the right price!
Each stock goes through the same maturity cycle – it starts at stage 1 and ends at stage 4
Stage 1 – Neglect Phase – Consolidation
Stage 2 – Progressive Phase – Accumulation
Stage 3 – Topping Phase – Distribution
Stage 4 – Downtrend – Capitulation
This strategy focuses on identifying stocks in confirmed stage 2 uptrends. This in itself gives us an advantage over long-term investors and less professional traders.
By focusing on stocks in a stage 2 uptrend, we avoid losses in downtrends (stage 4) or less profitable consolidation phases (stages 1 and 3). We are fully invested and put our money to work for us, and we are fully invested when stocks are in their stage 2 uptrends.
But how can we use technical chart analysis to find stocks that are in a stable stage 2 uptrend?
Mark Minervini has developed the so-called 'trend template' for this purpose. This is an essential part of our JS-TechTrading pullback strategy. For our watchlists, only those individual values that meet the tough requirements of Minervini's trend template are eligible.
The Trend Template
• 200d MA increasing over a period of at least 1 month, better 4-5 months or longer
• 150d MA above 200d MA
• 50d MA above 150d MA and 200d MA
• Course above 50d MA, 150d MA and 200d MA
• Ideally, the 50d MA is increasing over at least 1 month
• Price at least 25% above the 52w low
• Price within 25% of 52w high
• High relative strength according to IBD.
NOTE: In this basic version of the script, the Trend-Template has to be used as a separate indicator on TradingView (Public Trend-Template indicators are available in TradingView – community scripts). It is recommended to only execute buy signals in case the stock or financial security is in a stage 2 uptrend, which means that the criteria of the trend-template are fulfilled.
This strategy can be applied to all timeframes from 5 min to daily.
The VWAP Momentum-Pullback Strateg y
For the JS-TechTrading VWAP Momentum-Pullback Strategy, only stocks and other financial instruments that meet the selected criteria of Mark Minervini's trend template are recommended for algorithmic trading with this startegy.
A further prerequisite for generating a buy signals is that the individual value is in a short-term oversold state (RSI).
When the selling pressure is over and the continuation of the uptrend can be confirmed by the MA / VWAP crossover after reaching a price low, a buy signal is issued by this strategy.
Stop-loss limits and profit targets can be set variably.
Relative Strength Index (RSI)
The Relative Strength Index (RSI) is a technical indicator developed by Welles Wilder in 1978. The RSI is used to perform a market value analysis and identify the strength of a trend as well as overbought and oversold conditions. The indicator is calculated on a scale from 0 to 100 and shows how much an asset has risen or fallen relative to its own price in recent periods.
The RSI is calculated as the ratio of average profits to average losses over a certain period of time. A high value of the RSI indicates an overbought situation, while a low value indicates an oversold situation. Typically, a value > 70 is considered an overbought threshold and a value < 30 is considered an oversold threshold. A value above 70 signals that a single value may be overvalued and a decrease in price is likely , while a value below 30 signals that a single value may be undervalued and an increase in price is likely.
For example, let's say you're watching a stock XYZ. After a prolonged falling movement, the RSI value of this stock has fallen to 26. This means that the stock is oversold and that it is time for a potential recovery. Therefore, a trader might decide to buy this stock in the hope that it will rise again soon.
The MA / VWAP Crossover Trading Strategy
This strategy combines two popular technical indicators: the Moving Average (MA) and the Volume Weighted Average Price (VWAP). The MA VWAP crossover strategy is used to identify potential trend reversals and entry/exit points in the market.
The VWAP is calculated by taking the average price of an asset for a given period, weighted by the volume traded at each price level. The MA, on the other hand, is calculated by taking the average price of an asset over a specified number of periods. When the MA crosses above the VWAP, it suggests that buying pressure is increasing, and it may be a good time to enter a long position. When the MA crosses below the VWAP, it suggests that selling pressure is increasing, and it may be a good time to exit a long position or enter a short position.
Traders typically use the MA VWAP crossover strategy in conjunction with other technical indicators and fundamental analysis to make more informed trading decisions. As with any trading strategy, it is important to carefully consider the risks and potential rewards before making any trades.
This strategy is applicable to all timeframes and the relevant parameters for the underlying indicators (RSI and MA/VWAP) can be adjusted and optimized as needed.
Backtesting
Backtesting gives outstanding results on all timeframes and drawdowns can be reduced to a minimum level. In this example, the hourly chart for MCFT has been used.
Settings for backtesting are:
- Period from April 2020 until April 2021 (1 yr)
- Starting capital 100k USD
- Position size = 25% of equity
- 0.01% commission = USD 2.50.- per Trade
- Slippage = 2 ticks
Other comments
• This strategy has been designed to identify the most promising, highest probability entries and trades for each stock or other financial security.
• The RSI qualifier is highly selective and filters out the most promising swing-trading entries. As a result, you will normally only find a low number of trades for each stock or other financial security per year in case you apply this strategy for the daily charts. Shorter timeframes will result in a higher number of trades / year.
• As a result, traders need to apply this strategy for a full watchlist rather than just one financial security.
Parabolic Scalp Take Profit[ChartPrime]Indicators can be a great way to signal when the optimal time is for taking profits. However, many indicators are lagging in nature and will get market participants out of their trades at less than optimal price points. This take profit indicator uses the concept of slope and exponential gain to calculate when the optimal time is to take profits on your trades, thus making this a leading indicator.
Usage:
In essence the indicator will draw a parabolic line that starts from the market participants entry point and exponentially grows the slope of the line eventually intersecting with the price action. When price intersects with the parabolic line a take profit signal will appear in the form of an x. We have found that this take profit indicator is especially useful for scalp trades on lower timeframes.
How To Use:
Add the indicator to the chart. Click on the candle which the trade is on. Click on either the price which the trade will be at, or at the bottom of the candle in a long, or the top of a candle in a short. Select long or short. Open the settings of the indicator and adjust the aggressiveness to the desired value.
Settings:
- Start Time -- This is the bar in which your entry will be at, or occured at and the script will ask you to click on the bar with your mouse upon first adding the script.
- Start Price -- This is the price in which the entry will be at, or was at and the script will ask you to click on the price with your mouse upon first adding the script.
- Long/Short -- This is a setting which lets the script know if it is a long or a short trade, and the script will ask you to confirm this upon first adding it to the chart.
- Aggressiveness -- This directly affects how aggressive the exponential curve is. A value of 101 is the lowest possible setting, indicating a very non-aggressive exponential buildup. A value of 200 is the highest and most aggressive setting, indicating a doubling effect per bar on the slope.
Bollinger Bands SignalsDescription:
This indicator works well in trendy markets on long runs and in mean-reverting markets, at almost any timeframe.
That said, higher timeframes are much preferred for their intrinsic ability to cut out noise. The example chart is in 3H TF.
Be mindful, the script shows somewhat erratic jigsaw-like behaviour during consolidation periods when the price
jumps up and down in indecision which way to go. Fortunately, there are scripts out there that detect such periods.
You can choose between 4 Moving Averages, Vidya being the default. Period, Deviation and Bands Width parameters
all of them affect the signal generation.
For the Pine Script coder this script is pretty obvious.
It uses a standard technical analysis indicator - Bollinger Bands - and appends it with a 'width' parameter and
a signal generation procedure.
The signal generation procedure is the heart of this script that keeps the script pumping signals.
The BB width is used as a filter.
You can use this procedure in your own scripts and it will continue generate signals according to your rules.
Percent Levels From Previous CloseThis indicator plots on the chart +/- 1% / 2% / 3% ranges based on the previous day's close levels.
Disclaimer :
Success in trading is all about following your trading strategy and indicators should fit into your own strategy, and not be traded purely on.
This script is for informational and educational purposes only. Use of the script does not constitute professional and / or financial advice. You are solely responsible for evaluating the outcome of the script and the risks associated with using the script. In exchange for the use of the script, you agree not to hold monpotejulien TradingView user responsible for any possible claims for damages arising out of any decisions you make based on the use of the script.
ZenLibraryLibrary "ZenLibrary"
A collection of custom tools & utility functions commonly used with my scripts.
getDecimals() Calculates how many decimals are on the quote price of the current market
Returns: The current decimal places on the market quote price
truncate(float, float) Truncates (cuts) excess decimal places
Parameters:
float : _number The number to truncate
float : _decimalPlaces (default=2) The number of decimal places to truncate to
Returns: The given _number truncated to the given _decimalPlaces
toWhole(float) Converts pips into whole numbers
Parameters:
float : _number The pip number to convert into a whole number
Returns: The converted number
toPips(float) Converts whole numbers back into pips
Parameters:
float : _number The whole number to convert into pips
Returns: The converted number
av_getPositionSize(float, float, float, float) Calculates OANDA forex position size for AutoView based on the given parameters
Parameters:
float : _balance The account balance to use
float : _risk The risk percentage amount (as a whole number - eg. 1 = 1% risk)
float : _stopPoints The stop loss distance in POINTS (not pips)
float : _conversionRate The conversion rate of our account balance currency
Returns: The calculated position size (in units - only compatible with OANDA)
getMA(int, string) Gets a Moving Average based on type
Parameters:
int : _length The MA period
string : _maType The type of MA
Returns: A moving average with the given parameters
getEAP(float) Performs EAP stop loss size calculation (eg. ATR >= 20.0 and ATR < 30, returns 20)
Parameters:
float : _atr The given ATR to base the EAP SL calculation on
Returns: The EAP SL converted ATR size
barsAboveMA(int, float) Counts how many candles are above the MA
Parameters:
int : _lookback The lookback period to look back over
float : _ma The moving average to check
Returns: The bar count of how many recent bars are above the MA
barsBelowMA(int, float) Counts how many candles are below the MA
Parameters:
int : _lookback The lookback period to look back over
float : _ma The moving average to reference
Returns: The bar count of how many recent bars are below the EMA
barsCrossedMA(int, float) Counts how many times the EMA was crossed recently
Parameters:
int : _lookback The lookback period to look back over
float : _ma The moving average to reference
Returns: The bar count of how many times price recently crossed the EMA
getPullbackBarCount(int, int) Counts how many green & red bars have printed recently (ie. pullback count)
Parameters:
int : _lookback The lookback period to look back over
int : _direction The color of the bar to count (1 = Green, -1 = Red)
Returns: The bar count of how many candles have retraced over the given lookback & direction
getBodySize() Gets the current candle's body size (in POINTS, divide by 10 to get pips)
Returns: The current candle's body size in POINTS
getTopWickSize() Gets the current candle's top wick size (in POINTS, divide by 10 to get pips)
Returns: The current candle's top wick size in POINTS
getBottomWickSize() Gets the current candle's bottom wick size (in POINTS, divide by 10 to get pips)
Returns: The current candle's bottom wick size in POINTS
getBodyPercent() Gets the current candle's body size as a percentage of its entire size including its wicks
Returns: The current candle's body size percentage
isHammer(float, bool) Checks if the current bar is a hammer candle based on the given parameters
Parameters:
float : _fib (default=0.382) The fib to base candle body on
bool : _colorMatch (default=false) Does the candle need to be green? (true/false)
Returns: A boolean - true if the current bar matches the requirements of a hammer candle
isStar(float, bool) Checks if the current bar is a shooting star candle based on the given parameters
Parameters:
float : _fib (default=0.382) The fib to base candle body on
bool : _colorMatch (default=false) Does the candle need to be red? (true/false)
Returns: A boolean - true if the current bar matches the requirements of a shooting star candle
isDoji(float, bool) Checks if the current bar is a doji candle based on the given parameters
Parameters:
float : _wickSize (default=2) The maximum top wick size compared to the bottom (and vice versa)
bool : _bodySize (default=0.05) The maximum body size as a percentage compared to the entire candle size
Returns: A boolean - true if the current bar matches the requirements of a doji candle
isBullishEC(float, float, bool) Checks if the current bar is a bullish engulfing candle
Parameters:
float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)
float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage
bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?
Returns: A boolean - true if the current bar matches the requirements of a bullish engulfing candle
isBearishEC(float, float, bool) Checks if the current bar is a bearish engulfing candle
Parameters:
float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)
float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage
bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?
Returns: A boolean - true if the current bar matches the requirements of a bearish engulfing candle
timeFilter(string, bool) Determines if the current price bar falls inside the specified session
Parameters:
string : _sess The session to check
bool : _useFilter (default=false) Whether or not to actually use this filter
Returns: A boolean - true if the current bar falls within the given time session
dateFilter(int, int) Determines if this bar's time falls within date filter range
Parameters:
int : _startTime The UNIX date timestamp to begin searching from
int : _endTime the UNIX date timestamp to stop searching from
Returns: A boolean - true if the current bar falls within the given dates
dayFilter(bool, bool, bool, bool, bool, bool, bool) Checks if the current bar's day is in the list of given days to analyze
Parameters:
bool : _monday Should the script analyze this day? (true/false)
bool : _tuesday Should the script analyze this day? (true/false)
bool : _wednesday Should the script analyze this day? (true/false)
bool : _thursday Should the script analyze this day? (true/false)
bool : _friday Should the script analyze this day? (true/false)
bool : _saturday Should the script analyze this day? (true/false)
bool : _sunday Should the script analyze this day? (true/false)
Returns: A boolean - true if the current bar's day is one of the given days
atrFilter(float, float) Checks the current bar's size against the given ATR and max size
Parameters:
float : _atr (default=ATR 14 period) The given ATR to check
float : _maxSize The maximum ATR multiplier of the current candle
Returns: A boolean - true if the current bar's size is less than or equal to _atr x _maxSize
fillCell(table, int, int, string, string, color, color) This updates the given table's cell with the given values
Parameters:
table : _table The table ID to update
int : _column The column to update
int : _row The row to update
string : _title The title of this cell
string : _value The value of this cell
color : _bgcolor The background color of this cell
color : _txtcolor The text color of this cell
Returns: A boolean - true if the current bar falls within the given dates
Só Trade Top - Média de 8 - Augusto BackesThis strategy is an ADAPTATION of the EMA8 Setup from Augusto Backes (brazilian crypto youtuber).
The strategy was designed to work on the daily timeframe with the weekly EMA8.
Buy signals when there is a bullish candle above the weekly EMA8 - bullish candles in the script: engulfing candles, closing price reversal and bullish hammer.
Exit signals when there is a bearish candle below the weekly EMA8 - bearish candles in script: engulfing candles, closing price reversal and bearish hammer.
Entries and Exits on signals close.
Risk Management: all in on every trade.
The results here shown are from the standard parameters of the strategy.
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PORTUGUESE TRANSLATION
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Essa estratégia é uma adaptação do setup EMA8 do youtuber crypto Augusto Backes.
A estratégia foi desenvolvida para trabalhar em gráficos diários, usando a EMA8 do gráfico semanal.
Sinais de compra: quando uma figura de alta acontece acima da EMA8 semanal. Figuras de alta consideradas: Engolfo de Alta, Preço de fechamento de reversão de alta e Martelo de Alta
Sinais de saída do trade: quando uma figura de baixa acontece abaixo da EMA8 semanal. Figuras de baixa consideradas: Engolfo de Baixa, Preço de fechamento de reversão de baixa e Martelo de Baixa.
Todas as ordens são executadas dos fechamentos dos candles de sinal.
Gestão de risco: 100% do capital em cada trade.
Os resultados mostrados são com a aplicação dos parâmetros padrão da estratégia.
