Weis Pip Wave jayyWhat you see here is the Weis pip wave. The Weis pip wave shows how far in price a Weis wave has traveled through the duration of a Weis wave. The Weis pip wave is used in combination with the Weis cumulative volume wave. The two waves must be set to the same "wave size" and using the same method as described by Weis.
Using the traditional Weis method simply enter the desired wave size in the box "Select Weis Wave Size". In the example shown, it is set to 5 points. Each wave for each security and each timeframe requires its own wave size. Although not the traditional method a more automatic way to set wave size would be to use ATR. This is not the true Weis method but it does give you similar waves and, importantly, without the hassle of selecting a wave size for every chart. Once the Weis wave size is set then the pip wave will be shown.
I have put a zigzag of a 5 point Weis wave on the above bar chart. I have added it to allow your eye to get a better appreciation for Weis wave pivot points. You will notice that the wave is not in straight lines connecting wave tops to bottoms this is a function of the limitations of Pinescript version 1. This script would need to be in version 4 to allow straight lines. I will elaborate on the Weis pip zigzag script.
What is a Weis wave? David Weis has been recognized as a Wyckoff method analyst he has written two books one of which, Trades About to Happen, describes the evolution of the now popular Weis wave. The method employed by Weis is to identify waves of price action and to compare the strength of the waves on characteristics of wave strength. Chief among the characteristics of strength is the cumulative volume of the wave. There are other markers that Weis uses as well for example how the actual price difference between the start of the Weis wave from start to finish. Weis also uses time, particularly when using a Renko chart. Weis specifically uses candle/bar closes to define all wave action.
David Weis did a futures.io video which is a popular source of information about his method.
Cheers jayy
PS This script was published a day ago, however, I had included some links to the website of a person that uses Weis pip waves and also a dropbox link that contains the Weis wave chart for May 27, 2020, published by David Weis. Providing those links is against TV policy and so the script was hidden by TV. This is the identical script with the identical settings but without the offending links. If you want to see the pip Weis method in practice then search Weis pip wave. I have absolutely no affiliation. If you want to see Weis chart in pdf then message me and I will give a link or the Weis pdf. Why would you want to see the Weis chart for May 27, 2020? Merely to confirm the veracity of my algorithm. You could compare my chart () from the same period to the Weis chart. Both waves are for the ES!1 4 hour chart and both for a wave size of 5.
Pesquisar nos scripts por "THE SCRIPT"
(FRAMA) Fractal Adaptive Moving AverageThis script plots UP TO 4 FRAMAs (Fractal Adaptive Moving Average), a particularly useful adaptive MA which uses fractal price theory to "adapt" itself, or better, to auto-adjust its parameters. It's quite reactive, but its major strength resides in its ability to filter the noise during lateral price movements, avoiding some false signal provided by more common moving averages.
By default, the script plots the basic FRAMA version, the one firstly developed by John Ehlers, but also provides the possibility to play with the parameters, to obtain a modified FRAMA.
Unfortunately I'm not able to provide web sources about FRAMA here, due to Tradingview policies. So search online if you need more details about FRAMAs.
Please show me your support if you like my scripts. Hope you enjoy them.
Pivot Point SupertrendHello All,
There are many types of SuperTrend around. Recently I thought about a Supertrend based on Pivot Points then I wrote "Pivot Point SuperTrend" script. It looks it has better performance on keeping you in the trend more.
The idea is behind this script is finding pivot point, calculating average of them and like in supertrend creating higher/lower bands by ATR. As you can see in the algorithm the script gives weigth to past pivot points, this is done for smoothing it a bit.
As I wrote above it may keep you in the trend more, lets see an example:
As an option the script can show main center line and I realized that when you are in a position, this line can be used as early exit points. (maybe half of the position size)
While using Pivot Points, I added support resistance lines by using Pivot Point, as an option the script can show S/R lines:
And also it can show Pivot Points:
When you changed Pivot Point Period you can see its reaction, in following example PP period is 4 (default value is 2). Smaller PP periods more sensitive trendlines.
Alerts added for Buy/Sell entries and Trend Reversals. (when you set alerts use the option " Once Per Bar Close ")
ENJOY!
Linear Regression - Auto Adjust To Ideal Pearson's R (Min & Max)This is meant as a partner to my linear regression strategy script. This one however is just the indicator only so you can overlay the technique over other strategies.
To use this script you need to understand what Pearson's R is; which is how correlated a set of data is to a line within a given deviation (+ or -).
If the Pearson's R is negative (-) then the trend is going upwards. If the value is positive (+) then the trend is going downwards.
There is a lot of debate as to what the ideal negative and positive values are for the Pearson's R, so you can change these in the settings. What the script will do is attempt to automatically find (and draw the trend lines) based on a given minimum period and a maximum period (both set in the settings) that match the ideal Pearson's R settings selected.
Ideally the data is MOST correlated the closest it is to -1 or 1. This means the pattern is very reliable.
This script was designed and works very well with the bar replay mode. You may need a more professional version of TradingView to use this correctly. This mode allows you to see the script in action as it mutates and changes according to the new data being introduced.
I've pre-set the Pearson's R (+) and (-) ranges to what I think is ideal.
Daily RangeHey traders,
at first thanks to the one and only Master Educator Stefan Kassing for sharing his legendary system with us!
And also credit to Mortdiggiddy , RootDuk and PineCoders for helping me with the script =)
This script is calculating the daily range (in pips) of the current market you are in, in relation to the last 70 days (10 weeks) .
It is used for a possible Take Profit in Stefan Kassing's System .
How to add the script to your chart:
1. Click " Add to Favorite Scripts "
-> i.imgur.com
2. Go in the Chart & click the little arrow in the upper bar and then click " Daily Range ", then the Daily Range appears in the top left corner
-> i.imgur.com
To avoid errors make sure to right-click the Y-Axis on the right side of the chart and then left-click "Scale Price Chart Only" .
-> i.imgur.com
Also be aware that the daily range is only showing up , if you are in the daily time interval or below and you are not hovering with the cursor over the past candles respectively above or below them .
If you are using this script in exotic currencypairs or uncommon other markets , the daily range can be incorrect or not showing up .
So don't hesitate contacting me , then I will try to add the markets that you want to.
To change the color or the decimal places of the number, you can click the gear in the upper left corner.
-> i.imgur.com
Happy Pips
Triangular Moving Average (TMA) bandsWhat in the world is up folks ??!??
Here's the indicator of the day. Sharing a simple one today because I'm busy coding for a few clients (fun life of a top script author on TradingView)
The TMA bands is an indicator that I discovered on FXCM a few years ago FXCM TMA bands
From the screenshot above, we see that when the price hits the lower band, it's a possible reverse BUY signal. When it hits the upper band, it's a possible SELL signal
Methodology
1) The Take Profit 1 is the middle line, Take Profit 2 is the opposite band.
2) Once the TP1 is hit, set your Stop Loss to breakeven
3) Once the TP2 is hit, if you still want to stay in the trade, set your Stop Loss to the TP1
That's what we call a trailing stop loss which I offered in the Trade Manager : Trade-Manager-Open-Source-Version/
It will be a powerful tool in your arsenal for some scalp/intraday trades
After years of coding for traders, I worked with many brokers/API/languages so I'm very used to convert a script from a broker to another one (shameless self-advertising)
PS
Tomorrow I'll share the Signal version of my Algorithm Builder:
You'll be able to connect it in a single click to a very cool Backtest System made by the Pinescripters community
In other words, I'm selling the scripts to allow you to build your own signals in a few clicks AND to connect it easily to a kick-ass backtesting tool. More to come tomorrow
Hope you'll like it, like me, love it, love me, tip me :)
____________________________________________________________
Feel free to hit the thumbs up as it shows me that I'm not doing this for nothing and will motivate to deliver more quality content in the future. (Meaning... a few likes only = no indicators = Dave enjoying the beach)
- I'm an officially approved PineEditor/LUA/MT4 approved mentor on codementor. You can request a coaching with me if you want and I'll teach you how to build kick-ass indicators and strategies
Jump on a 1 to 1 coaching with me
- You can also hire for a custom dev of your indicator/strategy/bot/chrome extension/python
Smooth Moving Average Ribbon [STRATEGY] @PuppyTherapyThe Smooth moving average ribbon script is an enhancement of the script I posted yesterday. But will help you also create a very simple trend-following strategy or a simple trend-following filter.
You are able to select from a large variety of moving averages add Heikin Ashi Candles as a source and also add additional smoothing to every single of the moving averages.
The Strategy is using the basic backtesting engine.
It is a showcase that a simple strategy like buy when we going up and sell when we going down actually works especially on a bigger timeframe.
Thanks to all supporters and everget for some of the moving average scripts.
KK_Price Action Channel (TDI BH)Hey guys,
this little script is an addition to another one I will release right after this.
This is the Price Action Channel. The bands are calculated using a smoothed moving average of the highs/lows. I have taken the smoothed moving average script from the public library in order to create this, so all props to whoever created that one.
I am fairly new to creating scripts so use it with caution and let me know what you think!
EDIT: Here is the script I have written this one for:
vdubongCustom script I fabricated which I use for Binary Trading on the 1m & 3m charts together with Price action & Time management but the principles are the same for all mediums. Use Price action buy/sell in the clear zones. Use the outer 'pink' horizontal lines (highs / lows / pivots points) to place SL's.
I personally run an additional BB 50/2 for clearer BB higher highs & lower low perspective, but it's not part of the script. Script variables are fully customisable.
I don't take ownership of any part of the script, I not a programmer /script writer just a dabbler. Enjoy :) - VDUBONG UPDATED
FibVWAP_CCI_StrategyThis comprehensive Pine Script strategy combines Fibonacci retracement levels, Volume Weighted Average Price (VWAP), Commodity Channel Index (CCI), and Average True Range (ATR)-based stop levels to equip traders with essential tools for market analysis. Designed for intraday and swing traders, the script provides a detailed view of market momentum, dynamic support/resistance levels, and actionable buy/sell signals.
Key Features:
Fibonacci Levels:
Visualizes key support and resistance zones based on Fibonacci retracements.
Labels each level dynamically on the chart for easy reference.
VWAP with Standard Deviation Bands:
Tracks volume-weighted price trends to identify the true market value.
Includes upper and lower bands for detecting potential breakout or reversion zones.
CCI with Moving Average:
Highlights overbought/oversold conditions to anticipate market reversals.
Includes a smoothed moving average of CCI for trend validation.
ATR-Based Stop Levels:
Dynamic stop-loss levels (long and short) to manage risk effectively.
Helps traders maintain discipline with predefined exit strategies.
MACD:
Provides momentum signals with clear buy/sell crossovers.
Includes a histogram for identifying the strength of price movements.
Custom Alerts:
Bullish and bearish signals are triggered based on CCI crossovers and price action relative to VWAP.
Alerts are integrated for real-time decision-making.
Categories:
Indicators: Combines multiple technical indicators into a single script.
Volume Analysis: VWAP-based price tracking for volume-weighted trends.
Trend Analysis: CCI and MACD identify momentum shifts and trends.
How to Use:
Fibonacci Levels:
Use the displayed levels to identify potential support and resistance areas for trade entry and exit.
VWAP Bands:
Observe price interactions with VWAP and its bands to determine overbought/oversold conditions or breakout opportunities.
CCI and ATR Stops:
Use the CCI and its moving average to confirm trend direction and momentum.
Apply ATR stop levels for setting dynamic risk parameters.
MACD:
Monitor MACD crossovers for confirming bullish or bearish market momentum.
This script serves as a powerful toolkit for traders, offering robust functionality and visual clarity for effective decision-making in financial markets.
On-Chain Analysis [LuxAlgo]The On-Chain Analysis tool offers a comprehensive overview of essential on-chain metrics, enabling traders and investors to grasp the underlying activity and sentiment within the cryptocurrency market. By integrating metrics like wallet profitability, exchange flows, on-chain volume, social sentiment, and more into your charts, users can gain valuable insights into cryptocurrency network behavior, spot emerging trends, and better manage risk in the cryptocurrency market.
🔶 USAGE
🔹 On-Chain Analysis
When analyzing cryptocurrencies, several fundamental metrics are crucial for assessing the value and potential of a digital asset. This indicator is designed to help traders and analysts evaluate the markets by utilizing various data gathered directly from the blockchain. The gathered on-chain data includes wallet profitability, exchange flows, miner flows, on-chain volume, large buyers/sellers, market capitalization, market dominance, active addresses, total value locked (TVL), market value to realized value (MVRV), developer activity, social sentiment, holder behavior, and balance types.
Use wallet profitability and social sentiment metrics to gauge the overall mood of the market, helping to anticipate potential buying or selling pressure.
On-chain volume and active addresses provide insights into how actively a cryptocurrency is being used, indicating network health and adoption levels.
By tracking exchange flows and holder balance types, you can identify significant moves by whales or institutions, which may signal upcoming price shifts.
Market capitalization and miner flows give you an understanding of the supply side of the market, aiding in evaluating whether an asset is overvalued or undervalued.
The distribution of holdings among retail investors, whales, and institutional groups can greatly influence market dynamics. A large concentration of holdings by whales may indicate the potential for significant price swings, given their capacity to execute substantial trades. A higher proportion of institutional investors often suggests confidence in the asset's long-term potential, as these entities typically conduct thorough research before investing. While retail participation indicates broader adoption, it also introduces higher volatility, as these investors tend to be more reactive to market fluctuations.
Understanding the balance and behavior of short-term traders, mid-term cruisers, and long-term hodlers helps traders and analysts predict market trends and assess the underlying confidence in a particular cryptocurrency.
🔶 DETAILS
This script includes some of the most significant and insightful metrics in the crypto space, designed to evaluate and enhance trading decisions by assessing the value and growth potential of cryptocurrencies. The introduced metrics are:
🔹 Wallet Profitability
Definition: Represents the percentage distribution of addresses by profitability at the current price.
Importance: Indicates potential selling pressure or reduced selling pressure based on whether addresses are in profit or loss.
🔹 Exchange Flow
Definition: The total amount of a cryptocurrency moving in and out of exchanges.
Importance: Large inflows to exchanges can indicate potential selling pressure, while large outflows might suggest accumulation or long-term holding.
🔹 Miner Flow
Definition: Tracks the inflow and outflow of funds by miners.
Importance: High inflows could indicate selling pressure, whereas low inflows or outflows might reflect miner confidence.
🔹 On-Chain Volume
Definition: The total value of transactions conducted on a blockchain within a specific period.
Importance: On-chain volume reflects actual usage of the network, indicating how actively a cryptocurrency is being utilized for transactions.
🔹 Large Buyers/Sellers
Definition: Tracks the number of large buyers (bulls) and sellers (bears) based on transaction volume.
Importance: Comparing the number of large buyers (bulls) to large sellers (bears) helps gauge market trends and sentiment.
🔹 Market Capitalization
Definition: The total value of a cryptocurrency's circulating supply, calculated by multiplying the current price by the total supply.
Importance: Market cap is a key indicator of a cryptocurrency’s size and market dominance. It helps compare the relative size of different cryptocurrencies.
🔹 Market Dominance
Definition: Market dominance represents a cryptocurrency’s share of the total market capitalization of all cryptocurrencies. It is calculated by dividing the market cap of the cryptocurrency by the total market cap of the cryptocurrency market.
Importance: Market dominance is a crucial indicator of a cryptocurrency's influence and relative position in the market. It helps assess the strength of a cryptocurrency compared to others and provides insights into its market presence and potential influence.
Special Consideration: Since BTC and ETH dominance is relatively high compared to other cryptocurrencies, specific adjustments are made during the presentation of values and charts. When analyzing BTC, the total market capitalization is used. For ETH analysis, BTC is excluded from the total market cap. For any other cryptocurrency besides BTC and ETH, both BTC and ETH are excluded from the total market cap to provide a more accurate view.
🔹 Active Addresses
Definition: The number of unique addresses involved in transactions within a specific period.
Importance: A higher number of active addresses suggests greater network activity and user adoption, which can be a sign of a healthy ecosystem.
🔹 Total Value Locked (TVL)
Definition: The total value of assets locked in a decentralized finance (DeFi) protocol.
Importance: TVL is a key metric for DeFi platforms, indicating the level of trust and the amount of liquidity in a protocol.
🔹 Market Value to Realized Value (MVRV)
Definition: A ratio comparing the market cap to realized cap.
Importance: A high ratio may indicate overvaluation (potential selling), while a low ratio could signal undervaluation (potential buying).
🔹 Developer Activity
Definition: The level of activity on a cryptocurrency’s public repositories (e.g., GitHub).
Importance: Strong developer activity is a sign of ongoing innovation, updates, and a healthy project.
🔹 Social Sentiment
Definition: The general sentiment or mood of the community and investors as expressed on social media and forums.
Importance: Positive sentiment often correlates with price increases, while negative sentiment can signal potential downtrends.
🔹 Holder Balance (Behavior)
Definition: Distribution of addresses by holding behavior: Traders (short-term), Cruisers (mid-term), and Hodlers (long-term).
Importance: Helps predict market behavior based on different holder types.
🔹 Holder Balance (Type)
Definition: Distribution of cryptocurrency holdings among Retail (small holders), Whales (large holders), and Investors (institutional players).
Importance: Assesses the potential impact of different user groups on the market. A more decentralized distribution is generally viewed as positive, reducing the risk of price manipulation by large holders.
These metrics provide a comprehensive view of a cryptocurrency’s health, adoption, and potential for growth, making them essential for fundamental analysis in the crypto space.
🔶 SETTINGS
The script offers a range of customizable settings to tailor the analysis to your trading needs.
🔹 On-Chain Analysis
On-Chain Data: Choose the specific on-chain metric from the drop-down menu. Options include Wallet Profitability, Exchange Flow, Miner Flow, On-Chain Volume, Large Buyers/Sellers (Volume), Market Capitalization, Market Dominance, Active Addresses, Total Value Locked, Market Value to Realized Value, Developer Activity, Social Sentiment, Holder Balance (Behavior), and Holder Balance (Type).
Smoothing: Set the smoothing level to refine the displayed data. This can help in filtering out noise and getting a clearer view of trends.
Signal Line: Choose a signal line type (SMA, EMA, RMA, or None) and the length of the moving average for signal line calculation.
🔹 On-Chain Dashboard
On-Chain Stats: Toggle the display of the on-chain statistics.
Dashboard Size, Position, and Colors: Customize the size, position, and colors of the on-chain dashboard on the chart.
🔶 LIMITATIONS
Availability of on-chain data may vary and may not be accessible for all crypto assets.
🔶 RELATED SCRIPTS
Market-Sentiment-Technicals
ORB Screener with Trailing SLThis is an extension to our already published script ORB with ATR Trailing SL indicator
Many people requested to add screener to the existing indicator but since it's slowing down the performance heavily, we decided to add this as a separate screener.
Note: This screener does NOT plot the chart and so you want to have both plotting and screener, use both scripts together.
Overview:
The ORB Screener is a TradingView indicator designed to assist traders in identifying breakout opportunities based on the Opening Range Breakout (ORB) strategy. It features multi-symbol screening, customizable session timeframes, and a detailed table for quick visual reference and stock scanning.
The ORB Screener utilizes the ORB strategy to calculate breakout levels for multiple symbols. It identifies the high and low during a specified session (e.g., first 5 minutes after market open) and provides insights on whether the price is above the high (bullish), below the low (bearish), or between the range (neutral).
Additionally, the script calculates and displays the RSI values for each symbol, aiding traders in assessing momentum alongside breakout status.
Note: One can add up to 40 symbols for screening the stocks.
Key Features and Inputs:
ORB Session Time: Define a specific timeframe (e.g., "0915-0920") during which the ORB high and low are calculated. This serves as the foundation for identifying breakouts.
Multi-Symbol Screening: Screen up to 40 symbols at once, enabling you to monitor multiple opportunities without switching charts.
Breakout Validation:
Select from two methods for confirming a breakout: Close (based on closing prices) or Touch (based on intraday highs/lows).
Breakout Status Indicators:
Above High: Indicates a current bullish breakout when the price exceeds the ORB high.
Below Low: Indicates a current bearish breakout when the price falls below the ORB low.
Between Range: Indicates no breakout (price remains within the range).
RSI Integration : Calculates the RSI for each symbol to help traders evaluate momentum alongside breakout signals.
Customizable Table Display:
Position: Place the data table at the top, middle, or bottom of the chart and align it left, center, or right.
Size: Choose from multiple table size options for optimal visibility (Auto, Huge, Large, Normal, Small, Tiny).
Visual Feedback:
Green Background: Indicates a breakout happened at least once above the ORB high.
Red Background: Indicates a breakout happened at least once below the ORB low.
Gray Background: Indicates price is within the ORB range.
AmirAli 20 Pairs/USDT&BTCThis TradingView indicator, titled "20 Pairs/USDT&BTC," is designed to analyze and display the Exponential Moving Averages (EMAs) of various cryptocurrency pairs against USDT and BTC. Here's a detailed breakdown of its features, functionality, and usage:
Key Features:
Pairs Display: The indicator allows users to select which cryptocurrency pairs they wish to display on the chart. The available options include popular cryptocurrencies such as Ethereum (ETH), Binance Coin (BNB), Solana (SOL), Dogecoin (DOGE), Ripple (XRP), Litecoin (LTC), Polkadot (DOT), Avalanche (AVAX), Uniswap (UNI), Chainlink (LINK), Cardano (ADA), Cosmos (ATOM), Filecoin (FIL), Stellar (XLM), VeChain (VET), Enjin (ENJ), Celo (CELO), Hedera (HBAR), and Sandbox (SAND).
Dynamic Price Retrieval: For each selected pair, the indicator retrieves the closing prices for both USDT and BTC from Binance. This is done using the request.security function, which fetches real-time data.
EMA Calculation: The indicator calculates and plots the EMA for each cryptocurrency pair over a user-defined length, allowing traders to identify trends and potential buy/sell signals based on price movements relative to their EMAs.
User Customization: Users can customize several parameters, including the time frame for data retrieval, EMA length, and the visibility of each pair.
Market Hours Visualization: The indicator highlights the trading hours with a gray background, helping users identify when the market is active.
How to Use the Indicator:
Adding the Indicator: To use the indicator, add it to your TradingView chart by searching for "20 Pairs/USDT&BTC" in the public library or by pasting the provided Pine Script code into a new indicator script.
Select Pairs: Enable or disable specific cryptocurrency pairs in the input options at the top of the script. For example, if you want to analyze ETH and ADA, ensure that the respective boxes are checked.
Adjust Time Frame: Set the time frame for the indicator. You can choose any time frame or leave it blank to use the current chart's time frame.
Set EMA Length: Choose the length for the EMA calculation based on your trading strategy. A shorter EMA (e.g., 5) reacts more quickly to price changes, while a longer EMA (e.g., 20) smooths out price fluctuations.
Observe Trends: Monitor the plotted EMAs for the selected pairs. Crossovers of the price with the EMA can indicate potential buy or sell signals. For instance, if the price crosses above the EMA, it may signal a bullish trend, whereas a crossover below could indicate a bearish trend.
Consider Market Hours: Pay attention to the gray background during U.S. trading hours, as this may indicate higher volatility and trading opportunities.
Conclusion
The "20 Pairs/USDT&BTC" indicator is a powerful tool for cryptocurrency traders looking to analyze multiple pairs simultaneously. By providing a visual representation of EMAs, it aids in identifying trends and potential trading opportunities in a user-friendly manner. Make sure to adapt the settings according to your trading strategy and market conditions for optimal results.
Amir Hasankhah & Ali Beyki
MTOBVR_CheckOverview.
This indicator checks to see if the OBV follows a specific pattern and visually displays the trend of the OBV on different time legs. It also has the ability to set alerts when certain conditions are met.
How to use
Setting up the indicator
Add a new indicator on a chart in TradingView.
Copy the code into the “Pine Script™ Editor” and save it as a new script.
Apply the script to your chart.
Indicator Functions
OBV Calculation
Calculates OBV for each time frame (5-minute, 15-minute, 30-minute, 1-hour, 4-hour, daily, and weekly) and displays it on the chart OBV is an indicator that combines price changes and trading volume.
Pattern Detection
Detects whether a particular pattern, such as a double or triple bottom, appears in the OBV. This allows us to identify buy or sell signals.
When these patterns are detected, the background color changes.
Background Color Change
When an OBV forms a particular pattern, the background color of the chart changes. This provides visual confirmation that a pattern has appeared.
Minimum pattern (min_bool): when the 5-, 15-, and 30-minute conditions for OBV are met.
High hourly pattern (h_bool): when the condition is met for the 1-hour, 4-hour, and daily legs of the OBV.
One-week pattern (range_obv_1w_bool): when the condition is met for the 1-week OBV pattern.
When all conditions are met: when the minimum pattern, high hourly pattern, and one-week pattern are all met.
Alert Settings
You can set alerts when certain conditions are met. This allows you to receive signals in real time.
Minimum conditions (min_bool): conditions at 5, 15, and 30 minutes of OBV.
High timeframe condition (h_bool): condition on the 1-hour, 4-hour, and daily legs of the OBV.
When all conditions are met: When all of the above conditions are met.
One-week condition (range_obv_1w_bool): Condition for the one-week leg of the OBV.
When all conditions are met: when the minimum, high time leg, and one week conditions are all met.
Arrows
OBV_ALL_UP: A green triangle arrow is displayed when the OBV is rising on all time legs.
OBV_ALL_DOWN: A red triangle arrow appears when the OBV is falling on all time legs.
Usage Notes
Time Leg Settings: This script uses OBVs of different time legs to detect patterns. Depending on the time leg used, appropriate settings and interpretation are required.
Alert settings: In order to activate the alert function, the alert conditions and notification method must be configured using TradingView's alert system.
This indicator allows you to visually see trends and patterns in the OBV across multiple time frames, allowing you to make more informed trading decisions.
Delta Flow Profile [LuxAlgo]The Delta Flow Profile is a charting tool that tracks and visualizes money flow and the difference between buying and selling pressure accumulated within multiple price ranges over a specified period. It reveals the relationship between an asset's price and traders' willingness to buy or sell, helping traders identify significant price levels and analyze market activity.
The Normalized Profile displays the percentage of money flow at each price level relative to the maximum money flow level, enabling traders to easily compare levels and understand the relative importance of each price point in the context of overall trading activity.
🔶 USAGE
The Delta Flow Profile is made of two principal components with different usability, each one of them described in the sub-sections below.
🔹 Money Flow Profile
The Money Flow Profile illustrates the total buying and selling activity at different price ranges. By analyzing this profile, users can identify key price zones with substantial buying or selling pressure. These zones can often act as potential support or resistance.
The rows of the Money Flow Profile represent the trading activity at specific price ranges over a given period.
A normalized profile is included to compare each zone relative to the peak money flow using a percentage, with 100% indicating that a price range is the one with the highest accumulated money flow.
🔹 Delta Profile
The Delta Profile assesses the dominant sentiment (buying or selling) from volume delta at different price levels to gauge market sentiment and potential reversals.
Delta Profile rows with more significant buying or selling volume indicate dominance from one side of the market in that specific price area. Price coming back to that area might indicate willingness from a dominant side to further accumulate orders within it, potentially causing price to follow the direction established by this dominant side afterward.
The volume delta is determined from the user-selected Polarity Method, with "Bar Polarity" using candle sentiment to determine if a bar associated volume is buying or selling volume, and "Bar Buying/Selling Pressure" making use of the high/low price to obtain more precise results.
🔹 Level of Significance
Users can quickly highlight the price levels with the highest recorded money flow activity through the included "Level of Significance". Various display methods are included:
Developing: Show the price level with the highest recorded money flow activity spanning over the indicator calculation interval.
Level: Show the price level with the highest recorded money flow activity.
Row: Show the price zone with the highest recorded money flow activity.
These levels/zones can be used as potential support/resistance points and can serve as a reference of where prices might go next for market participants to accumulate orders.
🔶 SETTINGS
The script offers a range of customizable settings to tailor the analysis to your trading needs.
🔹 Calculation Settings
Money Flow Profile: Toggles the visibility of the Money Flow Profile.
Normalized: Toggles the visibility of the Normalized Profile.
Sentiment Profile: Toggles the visibility of the Sentiment Profile.
Polarity Method: Choose between Bar Polarity or Bar Buying/Selling Pressure to calculate the Sentiment Profile.
Level of Significance: Toggles the visibility of the level of significance line/zone.
Lookback Length / Fixed Range: Sets the lookback length.
Number of Rows: Specify how many rows each profile histogram will have.
🔹 Display Settings
Profile Width %: Alters the width of the rows in the histogram, relative to the profile length.
Profile Horizontal Offset: Enables moving the profile on the horizontal axis.
Profile Text: Toggles the visibility of profile texts, and alters the size of the text. Setting to Auto will keep the text within the box limits.
Currency: Extends the profile text with the traded currency.
Profile Price Levels: Toggles the visibility of the profile price levels.
🔶 RELATED SCRIPTS
Money-Flow-Profile
Volume-Profile-with-Node-Detection
Market Structure Oscillator [LuxAlgo]The Market Structure Oscillator indicator analyzes and synthesizes short-term, intermediate-term, and long-term market structure shifts and breaks, visualizing the output as oscillators and graphical representations of real-time market structures on the main price chart.
The oscillator presentation of the detected market structures helps traders visualize trend momentum and strength, identifying potential trend reversals, and providing different perspectives to enhance the analysis of classic market structures.
🔶 USAGE
A market structure shift signals a potential change in market sentiment or direction, while a break of structure indicates a continuation of the current trend. Detecting these events in real-time helps traders recognize both trend changes and continuations. The market structure oscillator translates these concepts visually, offering deeper insights into market momentum and strength. It aids traders in identifying overbought or oversold conditions, potential trend reversals, and confirming trend direction.
Oscillators often generate signals based on crossing certain thresholds or diverging from price movements, providing cues for traders to enter or exit positions.
The weights determine the influence of each period (short-term, intermediate-term, long-term) on the final oscillator value. By changing the weights, traders can emphasize or de-emphasize the importance of each period. Higher weights increase their respective market structure's influence on the oscillator value. For example, if the weight for the short-term period is set to 0, the final value of the oscillator will be calculated using only the intermediate-term and long-term market structures.
The indicator features a Cycle Oscillator component, which uses the market structure oscillator values to generate a histogram and provide further insights into market cycles and potential signals. The Cycle Oscillator aids in timing by allowing traders to more easily see the median length of an oscillation around the average point, helping them identify both favorable prices and favorable moments for trading.
Users can also display detected market structures on the price chart by enabling the corresponding market structure toggle from the "Market Structures on Chart" settings group.
🔶 DETAILS
The script initiates its analysis by detecting swing levels, which form the fundamental basis for its operations. It begins by identifying short-term swing points, automatically detected solely based on market movements without any reliance on user-defined input. Short-Term Swing Highs (STH) are peaks in price surrounded by lower highs on both sides, while Short-Term Swing Lows (STL) are troughs surrounded by higher lows.
To identify intermediate-term and long-term swing points, the script uses previously detected short-term swing points as reference points. It examines these points to determine intermediate-term swings and further analyzes intermediate-term swings to identify long-term swing points. This method ensures a thorough and unbiased evaluation of market dynamics, providing traders with reliable insights into market structures.
Once swing levels are detected, the process continues with the analysis of Market Structure Shifts (MSS) and Breaks of Structure (BoS). A Market Structure Shift, also known as a Change of Character (CHoCH), is a critical event in price action analysis that suggests a potential shift in market sentiment or direction. It occurs when the price reverses from an established trend, indicating that the current trend may be losing momentum and a reversal could be imminent.
On the other hand, a Break of Structure signifies the continuation of the existing market trend. This event occurs when the price decisively moves beyond a previous swing high or low, confirming the strength and persistence of the prevailing trend.
The indicator analyzes price patterns using a pure price action approach and identifies market structures for short-term, intermediate-term, and long-term periods. The collected data is then normalized and combined using specified weights to calculate the final Market Structure Oscillator value.
🔶 SETTINGS
The indicator incorporates user-defined settings, allowing users to tailor it according to their preferences and trading strategies.
🔹 Market Structure Oscillator
Market Structure Oscillator: Toggles the visibility of the market structures oscillator.
Short Term Weight: Defines the weight for the short-term market structure.
Intermediate Term Weight: Defines the weight for the intermediate-term market structure.
Long Term Weight: Defines the weight for the long-term market structure.
Oscillator Smoothing: Determines the smoothing factor for the oscillator.
Gradient Colors: Allows customization of bullish and bearish gradient colors.
Market Structure Oscillator Crosses: Provides signals based on market structure oscillator equilibrium level crosses.
🔹 Cycle Oscillator
Cycle Oscillator - Histogram: Toggles the visibility of the cycle oscillator.
Cycle Signal Length: Defines the length of the cycle signal.
Cycle Oscillator Crosses: Provides signals based on cycle oscillator crosses.
🔹 Market Structures on Chart
Market Structures: Allows plotting of market structures (short, intermediate, and long term) on the chart.
Line, Label, and Color: Options to display lines and labels for different market structures with customizable colors.
🔹 Oscillator Components
Oscillators: Separately plots short-term, intermediate-term, and long-term oscillators. Provides options to display these oscillators with customizable colors.
🔶 RELATED SCRIPTS
Market-Structures-(Intrabar)
