Bull Bear Trend IndicatorIntroduction: Origin of the Swing Point Indicator
In the quest for a reliable indicator that accurately predicts trend directions and identifies valid highs and lows, the genesis of the Swing Point Indicator emerged. Faced with the challenge of finding a tool that provided comprehensive market analysis and actionable insights, the need for a novel solution became evident. Combining insights gleaned from market analysis and innovative algorithmic approaches, the Swing Point Indicator was born.
Enhanced Feature: Highs and Lows Labeling in Trend Direction
In addition to its core functionalities, the Swing Point Indicator incorporates an advanced feature that enhances the visualization of trend direction. This feature provides further clarity by selectively labeling highs and lows based on the prevailing trend, reinforcing the identification of higher highs and lower lows in uptrends and downtrends, respectively. Overlapping labels on highs and lows signify a potential trend change, providing traders with valuable insight into market reversals.
Detailed Description:
1. Uptrend Labeling:
- Higher Highs (Green Label with Price): In an uptrend, where higher highs are observed, the indicator labels these points with vibrant green color and includes the corresponding price value. This visually highlights the significance of higher highs as pivotal points in the upward trajectory of prices.
- Higher Lows (Red Marker without Text or Diamond): To complement the identification of higher highs, higher lows are marked with a distinct red marker or diamond, devoid of any accompanying text. While these points are crucial in delineating the ascending trend, their emphasis lies in their role as support levels, providing a foundation for upward price movements.
2. Downtrend Labeling:
- Lower Lows (Red Label with Price): Conversely, in a downtrend characterized by lower lows, the indicator labels these points with conspicuous red color, accompanied by the corresponding price value. Lower lows signify critical levels of downward price momentum, acting as indicators of potential bearish continuation.
- Lower Highs (Green Marker without Text or Diamond): Lower highs, indicative of downward retracements in a downtrend, are marked by distinctive green markers or diamonds without accompanying text. While these points denote temporary pauses or pullbacks in the bearish trend, their emphasis lies in their role as resistance levels, impeding upward price movements.
Functionality and Utility:
- Customizable Lookback Candle Count: Traders have the option to adjust the lookback candle count, which is set by default at 108 candles in the settings. This flexibility allows traders to tailor the indicator to their specific trading preferences and timeframes.
- Equal Highs or Lows Option: When enabled, the Swing Point Indicator can identify equal highs or equal lows, providing traders with additional insight into market dynamics.
- Formation Confirmation: A new higher high along with its higher low or a new lower low along with its lower high is confirmed after two candles have closed following the swing point candle. This ensures the reliability of the identified trend direction.
Conclusion:
The incorporation of selective labeling for highs and lows based on trend direction, alongside the introduction of customizable settings and formation confirmation criteria, enhances the effectiveness of the Swing Point Indicator. This feature-rich tool empowers traders with a nuanced understanding of market dynamics, highlighting critical price levels and trend reversals. By offering enhanced visualization, customizable options, and confirmation criteria, the Swing Point Indicator equips traders with the confidence and precision needed to navigate the markets successfully, contributing to more informed and profitable trading strategies.
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Swing Failure Pattern (SFP) [LuxAlgo]The Swing Failure Pattern indicator highlights Swing Failure Patterns (SFP) on the user chart, a pattern occurring during liquidity generation from significant market participants.
A Confirmation level used to confirm a trend reversal is also included. Users can additionally filter out SFP based on a set Volume % Threshold .
🔶 USAGE
Swing failure patterns occur when candle wicks exceed (above/below) a recent swing level but close back below/above it, and occur from more significant market participants engineering liquidity. This pattern can be indicative of a potential trend reversal.
A label and an accentuated wick line highlight the SFP (both can be disabled).
Using a higher "Swings" period will not return different SFP but will however potentially reduce their detection rate.
🔹 Confirmation Level
The confirmation level is the highest point between the previous swing and SFP for a bullish SFP, and the lowest point for a bearish SFP. This level allows confirming a trend reversal after an SFP once the price breaks it.
A small triangle will be displayed when the price closes beyond the confirmation level.
A more reactive and contrarian approach could use the SFP as an entry point, and the confirmation level for taking (partial) profit, or stop loss. The example below shows a possible scenario:
🔹 Volume % Threshold
During the occurrence of an SFP, the Volume % Threshold option allows comparing the cumulative volume outside the Swing level to the total volume of the candle. The following options are included:
Volume outside swing < Threshold: Volume outside the Swing level needs to be lower than x % of total candle volume. Prevent excessive liquidity generation.
Volume outside swing > Threshold: Volume outside the Swing level needs to be higher than x % of total candle volume. Requires more significant liquidity to be generated.
None: No extra filter is applied
Note that in the above case, the left SFP is no longer highlighted because the volume above the swing level was higher than the 25% threshold of the total volume.
When we change the setting to "Volume outside swing > Threshold", we get the reversed situation.
The "Volume outside Swing level" is obtained using intrabar - Lower TimeFrame (LTF) data.
At the intrabar (LTF) level, there are a maximum of 100K bars available. When using the Volume % Threshold filter, a vertical line will highlight the maximum period during which intrabars are available.
🔶 DETAILS
🔹 LTF Settings
When 'Auto' is enabled (Settings, LTF), the LTF will be the nearest possible x times smaller TF than the current TF. When 'Premium' is disabled, the minimum TF will always be 1 minute to ensure TradingView plans lower than Premium don't get an error.
Examples with current Daily TF (when Premium is enabled):
500 : 3-minute LTF
1500 (default): 1-minute LTF
5000: 30 seconds LTF (1 minute if Premium is disabled)
The concerning LTF can be seen at the right-top (default) corner.
🔶 SETTINGS
Swings: Period used for the swing detection, with higher values returning longer-term Swing Levels.
Bullish SFP: enable/disable bullish Swing Failure Patterns.
Bearish SFP: enable/disable bearish Swing Failure Patterns.
🔹 Volume Validation
Validation:
Volume outside swing < Threshold: The volume outside the swing level needs to be lower than x % of the total volume.
Volume outside swing > Threshold: The volume outside the swing level needs to be higher than x % of the total volume.
None: No extra validation is applied.
Volume % Threshold: % of total volume as threshold.
Auto + multiple: Adjusts the initial set LTF
LTF: LTF setting
Premium: Enable when your TradingView plan is Premium or higher
🔹 Dashboard
Show Dashboard: Display applied Lower Timeframe (LTF)
Location: Location of the dashboard
Size: Size of the dashboard
🔹 Style
Swing Lines
Confirmation Lines
Swing Failure Wick
Swing Failure Label
Lines / Labels: Color for lines and labels
SFP Wicks: Color for SFP wick line
Channel CorridorOVERVIEW
The Channel Corridor indicator is designed to operate on a log chart of asset prices (e.g., BTCUSD), specifically on a weekly timeframe.
The intent of the indicator is to provide a visual representation of market dynamics, focusing on a dynamically adjusted corridor around a Simple Moving Average (SMA) of an asset's price. The corridor adapts to changing market conditions. The indicator includes channels within the corridor for additional reference points.
PURPOSE
Trend Identification: The channel corridor can aid in visualising the overall trend, as it dynamically adjusts the corridor based on an SMA and user-defined parameters.
Volatility Assessment: The width of the channel corridor can may act as a gauge of market volatility.
Reversal Points: The channel corridor may signal potential trend reversals or corrections when an asset price approaches the upper or lower bounds of the corridor.
Long-Term Trend Analysis: The channel corridor may aid in longer-term trend analysis.
CONSIDERATIONS
Validation: It's recommended that careful back-testing over historical data be done before acting on any identified opportunities.
User Discretion: Trading decisions should not rely solely on this script. Users should exercise judgment and consider market conditions.
CREDIT
Ideation: Thanks @Sw1ngTr4der for the idea and corridor seed code
Trend IndicatorThis indicator has different features:
1. Ichimoku = this indicator can plot Ichimoku calculated both in the common formula and with the volume average, you can choose the calculator method for each line.
2. Channel and Bands = this mode allows the user to choose from channel and band, "channel" shows the Keltner channel, and "band" shows the Bollinger bands. Both the indicators are calculated including the volume in the formula of the average midpoint.
3. Color candle = this function allows the user to see two different colors of candles on the chart, the positive color occurs when both the long-term average and the short team average of price calculated using the volume is above the two averages calculated without the volume. This function is great to analyze the volume pressure, useful to identify trend continuation and exhaustion.
4. Extreme reversal zones = this is a version of the Keltner channels calculated over a high number of candles and with high deviation, to identify the potential zones of reversal.
Note that in the "Ichimoku" indicator, the backline is the T.R.A.M.A. indicator, created and published open source by Lux Algo, which I thank for the script.
MTFT Patterns Noob, TheStrat Suite (1of5)Multi Time Frame Tools
Multi Time Frame Tools (MTFT) is a suite of scripts aimed to establish a standard timeframe-based color scheme. This can be utilized to overlay different timeframes calculations/values over a single timeframe. As one example, this would allow to observe the 5-month moving average, 5-week moving average, and 5-day moving average overlaid over each other. This would allow to study a chart, get accustomed to the color scheme and study all these at the same time much easier.
All indicators calculated using the below specific timeframes as input, will always use the color scheme outlined below. This is to get you in habit of recognizing the different timeframes overlaid in top of each other. These can be personalized.
Longer TF analysis.
Yearly - Black
Semi-Annual - Yellow
Quarterly - White
Monthly - Maroon
Weekly - Royal Blue
Daily - Lime
Shorter TF analysis.
4 hour - Fuchsia
1 hour - Orange
30 min - Red
15 min - Brown
10 min - Purple
5 min - Lilac
All color coordination is able to be modified in either the “Inputs” or “Style” section. If you need to make changes, make sure to select “Save as Default” on the bottom right of the settings menu.
Recommended Chart Color Layout
I played around with color coordination a lot. The final product was what worked best for me. I personally use the following chart settings to accent all available TF colors.
-> Click on the settings wheel on your chart. -> Click on “Appearance”.
Background - Solid -> On the top row pick the 6th color from the left.
Vert Grid Lines and Horz Grid Lines -> On the top row pick the 7th color from the left.
You may of course change these and the indicator line colors as you like.
Adding indicator to Chart
-> Open the TradingView “Indicators & Strategies” library, the icon has “ƒx”. -> All premium scripts will be located under “Invite-Only Scripts” -> Click indicator to add to your chart.
MTFT TheStrat Suite (5 Scripts)
Rob Smith is the creator of ‘TheStrat’ trading strategy. For ‘TheStrat’ I have put together a suite of 5 premium scripts that combined will offer people interested in learning ‘TheStrat’ a cleaner learning process. For 2 of the 5 scripts specifically, the MTFT approach of overlaying multiple longer timeframes(TF) over a shorter TF selected as a display cannot be utilized. The other 2 scripts will have full MTFT functionality and they are my personal favorite. I will be providing very basic info to utilize this script; it is up to you to dive deep into learning this strategy. I am not an expert with the tool or a financial advisor. As with all aspects of life, I recommend you research, learn, discern and practice extensively in order to become a master.
*1. MTFT Patterns Pro/Noob
2. MTFT Full Time Frame Continuity Table
3. MTFT Last HML wOpen
4. MTFT Actionable Signal Targets
5. MTFT Reversal Lines
MTFT Patterns Pro/Noob, TheStrat Suite (1of5)
Features includes:
1.) Absolute Truth #. This setting will provide the candlesticks absolute truth # below the CS.
2.) Color bars based on Absolute Truth. This setting will color all inside candlesticks yellow, all Green Outside Candlesticks White and all Red Outside Candlesticks Fuchsia. Scenario 2 candlesticks are left as is and will color based on the color of the original candlestick. This setting is default enabled and needs to be disabled in the “Style” tab under the indicator settings wheel. I found this more practical in getting used to the 3 absolute truth scenarios.
3.) Reversals. This setting will mark when reversal patterns as discussed by Rob are posted. Noob version will also include the description of the reversal pattern, while the Pro version will only plot an ‘R’ without the text description. Note: There should never be back-to-back green Rs or red Rs. I found this issue a lot on many of the other ‘TheStrat’ scripts out there. TradingView development team note: The plotchar function does not allow dynamic text so this is the only reason on why there needs to be two separate versions of the script. ‘Pro’ is important for experienced users that already identify the patterns without the text and ‘Noob’ is important for beginner users that still need the text description of the pattern.
4. Continuations. This setting will mark when continuation patterns as discussed by Rob are posted. Noob version will also include the description of the continuation pattern, while the Pro version will only plot a ‘C’ without the text description.
TradingView Admin note: The plotchar function does not allow dynamic text so this is the only reason why there needs to be two separate versions of the script. ‘Pro’ is important for experienced users that already identify the patterns without the text and ‘Noob’ is important for beginner users that still need the text description of the pattern.
5. Actionable Signals and Complex Actionable Signals (CAS). This has several objective parameters as defined by Rob’s course. ‘Complex Actionable Signals’ is a name I used when speaking of actionable signals that require a combination of 2 or more candlesticks.
Actionable Signals.
• All inside candlesticks(Absolute Truth #1)
• Hammers
• Shooting Stars
Complex Actionable Signals.
• (Absolute Truth Combo 1-3-1 )Inside Outside Inside
• Outside -> Hammer
• Outside -> Shooting Star
• Inside -> Hammer
• Inside -> Shooting Star
• Momentum Inside
• Momentum Hammer
• Momentum Shooting Star
• Hammer -> Shooting Star
• Shooting Star -> Hammer
5a. Example CAS 1-3G-1. I am including only one example of several of the CAS that are included in this script. The star is utilized for all CAS, the color and location designate the direction that the CAS would have you act on. Note the “Entry” and “Target” line were added manually and are not part of the script. This is one successful setup; don’t get excited thinking this is how it always works. I will let you discover and learn for yourself that there is many failed setups and many setups that never trigger the actionable signal. This is where setting alerts is very handy.
6. Alerts. Press on the “Create Alert” Icon for TradingView. When the prompt opens select the preferred script either “TheStrat Pro” or “TheStrat Noob” under “Condition” and then under the sub-menu select any of the following scenarios.
• C ▲/ ▼ = If the active CS shows a continuation up/down pattern, remember this CS is active and can still change direction and trigger a reversal in the other direction.
• R ▲/▼ = If the active CS shows a reversal up/down pattern, remember this CS is active and can still change direction and trigger a continuation in the previous trend direction.
• HM Trigger(Last High Cross) = Alert when the active CS breaks the high of the previous CS. As a new CS opens, it re-adjusts its values and is just constantly waiting for the active CS break through the previous CS high.
• SS Trigger(Last Low Cross) = Alert when the active CS breaks the low of the previous CS. As a new CS opens, it re-adjusts its values and is just constantly waiting for the active CS break through the previous CS low.
• Inside Trigger (Last High/Low Cross) = Alert when the active CS breaks the low or the high of the previous CS. As a new CS opens, it re-adjusts its values and is just constantly waiting for the active CS break through either the previous CS low or the high.
• Last CS Inside
• Last CS H
• Last CS S
• Last CS Actionable Signal (inside, H or S)
• Last CS Complex Actionable Signal
• Last CS Any Actionable Signal
Enhanced Convolution RasterChart (HeatMap) - Dr. John EhlersThis is my enhanced version of Dr. John Ehlers' convolution heat map using Pine Script version 4.0. The original concept comes from chapter 13 of his book "Cycle Analytics for Traders". I did heavily modify the original computations for the purpose of reducing lag, but sometimes only improved by occurring one bar sooner. I would consider this a confirmational indicator due to the fact, that the vibrant and dramatic color changing technique usually occurs after reversals at the lowest portion of the chart in an overall positive trend typically, unless you have adjusted the "Periods" optimally by chance.
I provided multiple color schemes with an inversion technique for those of you who may have color blindness vision impairments. You may contact me in private if these color schemes are not suitable for your diagnosed visual impairment, and you would wish to contribute to seeing this color scheme improved along with other future indicators I shall release.
The "Shortest Period" controls the smoother and the "Longest Period" controls the highpass roofing filter.
I once again would personally like to thank the talented individuals at TV for providing a platform that embraces an initial free membership, which I first obtained myself, for individuals like me to freely code in Pine with mathemagical ideas and mental wizardry, creating ultimately, inventions like this eye candy display above.
Features List Includes:
"Source" Selection
Longest period adjustment
Shortest period adjustment
Dual color scheme option
Color inversion checkbox
This is not a freely available indicator, FYI. To witness my Pine poetry in action, properly negotiated requests for unlimited access, per indicator, may ONLY be obtained by direct contact with me using TV's "Private Chats" or by "Message" in my member name above. The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... If you do have any questions or comments regarding this indicator, I will consider your inquiries, thoughts, and ideas presented below in the comments section, when time provides it. As always, "Like" it if you simply just like it, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
Mean Reversion Probability Zones [BigBeluga]🔵 OVERVIEW
The Mean Reversion Probability Zones indicator measures the likelihood of price reverting back toward its mean . By analyzing oscillator dynamics (RSI, MFI, or Stochastic), it calculates probability zones both above and below the oscillator. These zones are visualized as histograms, colored regions on the main chart, and a compact dashboard, helping traders spot when the market is statistically stretched and more likely to revert.
🔵 CONCEPTS
Mean Reversion : The tendency of price to return to its average after significant extensions.
Oscillator-Based Analysis : Uses RSI, MFI, or Stochastic as the base signal for detecting overextension.
Probability Model : The probability of reversion is computed using three factors:
Whether the oscillator is rising or declining.
Whether the oscillator is above or below user-defined thresholds.
The oscillator’s actual value (distance from equilibrium).
Dual-Zone Output :
Upper histogram = probability of downward mean reversion.
Lower histogram = probability of upward mean reversion.
Historical Extremes : The dashboard highlights the recent maximum probability values for both upward and downward scenarios.
🔵 FEATURES
Oscillator Choice : Switch between RSI, MFI, and Stochastic.
Customizable Zones : User-defined upper/lower thresholds with independent colors.
Probability Histograms :
Above oscillator → down reversion probability.
Below oscillator → up reversion probability.
Colored Gradient Zones on Chart : Visual overlays showing where mean reversion probabilities are strongest.
Probability Labels : Percentages displayed next to histogram values for clarity.
Dashboard : Compact table in the corner showing the recent maximum probabilities for both upward and downward mean reversion.
Overlay Compatibility : Works in both chart pane and sub-pane with oscillators.
🔵 HOW TO USE
Set Oscillator : Choose RSI, MFI, or Stochastic depending on your strategy style.
Adjust Zones : Define upper/lower bounds for when oscillator values indicate strong overbought/oversold conditions.
Interpret Histograms :
Orange (upper) histogram → higher chance of a pullback/downward mean reversion.
Green (lower) histogram → higher chance of upward reversion/bounce.
Watch Gradient Zones : On the main chart, shaded areas highlight where probability of mean reversion is elevated.
Consult Dashboard : Use the “Recent MAX” values to understand how strong recent reversion probabilities have been in either direction.
Confluence Strategy : Combine with support/resistance, order flow, or trend filters to avoid counter-trend trades.
🔵 CONCLUSION
The Mean Reversion Probability Zones provides traders with an advanced way to quantify and visualize mean reversion opportunities. By blending oscillator momentum, threshold logic, and probability calculations, it highlights when markets are statistically stretched and primed for reversal. Whether you are a contrarian trader or simply looking for exhaustion signals to fade, this tool helps bring structure and clarity to mean reversion setups.
Rally Base Drop Signals [LuxAlgo]The Rally Base Drop indicator is built around the Supply and Demand (SND) concept known as "Rally, Base & Drop" Candles. These candle types are commonly used in this trading approach to identify price structure.
This indicator highlights bars by labeling them as "Rally," "Drop," or "Base" candles. It also identifies specific sequence patterns formed by these candles.
🔶 USAGE
The Rally, Base, Drop candlestick approach is a straightforward method for identifying price action structure.
Candles are categorized into three types, which are then analyzed to understand market structure and Supply/Demand levels.
Rally: Two or more consecutive bullish candles.
Drop: Two or more consecutive bearish candles.
Base: A single bullish or bearish candle that breaks the previous trend.
🔹 Rally & Drop Candles
These candles show clear directional momentum and signal whether demand or supply is dominating. They are helpful when identifying trends, as they highlight strong price movement.
🔹 Base Candles
In most SND strategies, "Base" can have several interpretations.
Typically, base candles represent short periods of consolidation that test the trend before continuation. They can also be found at turning points (tops or bottoms).
For this indicator, a base candle is simply one that does not follow the direction of nearby candles or is where a Drop and Rally meet. Multiple base candles often reflect indecision in the market, suggesting a temporary balance between buyers and sellers.
🔹 Reversal Sequences
Rally-Base-Drop (RBD)
Drop-Base-Rally (DBR)
In Supply and Demand analysis, these sequences are considered reversals. They mark zones where buyer and seller activity has shifted, which can lead to future price reactions. These areas are known as "Supply or Demand Zones" and are often revisited by price, making them useful for trade setups.
🔹 Continuation Sequences
Rally-Base-Rally (RBR)
Drop-Base-Drop (DBD)
Continuation sequences show a brief pause in the trend, followed by further movement in the same direction. In SND terms, they represent zones where orders accumulate before a continuation move. These are typically used to join ongoing trends, as they indicate sustained interest from buyers or sellers.
🔶 DETAILS
🔹 Color Modes
The script includes three color modes. "No Color" is self-explanatory, while the other two options relate to how candles are detected.
A Rally or Drop requires at least two candles to be successfully identified. As a result, detection occurs on the second candle. However, the full Rally or Drop includes both candles.
Two coloring methods are available:
Full Color: Once a Rally or Drop is detected (on the second bar), both candles are colored, starting from the first. This reflects the full pattern.
Color on Detection: Only the second candle (where detection occurs) is colored. This avoids changing past bars and may be useful for live analysis.
🔶 SETTINGS
Sequences: Select which sequences to display on the chart.
Bar Color Logic: Choose the preferred bar coloring method.
FMX Trend Confirmation - No Reversals🔍 FMX Continuation Signal – No Reversals
Powered by the FMX Model (Fundamentals Meet Execution)
This indicator is designed to capture high-probability continuation trades only, avoiding risky reversals. It confirms buy or sell signals based on:
✅ 15-Minute Structure Shift Confirmation
✅ Liquidity Sweeps (stop hunts beyond recent highs/lows)
✅ Trend Validation using HTF SMA (default: 15min)
✅ Second Candle Close inside the sweep range — FMX-grade precision
📈 Green “Buy” labels appear when:
Liquidity is swept below recent lows
Price closes back inside the range
The higher timeframe trend is bullish
📉 Orange “Sell” labels appear when:
Liquidity is swept above recent highs
Price closes back inside the range
The higher timeframe trend is bearish
🛡️ No reversal signals are plotted. This tool is meant for traders who follow the trend with smart money logic, inspired by FMX principles.
EMA-VWAP Super Reversal (Final Advanced Version)EMA-VWAP Super Reversal – User Guide
This indicator is designed for high-probability reversal trading setups on futures such as NQ1! and ES1!, following strict confluence conditions.
✅ Signal Types
🟢 / 🔴 Mean Reversion Dots
Appear when all 4 stochastics (15m, 5m, 1m) are extreme (>80 or <20)
AND price is far (>0.05% by default, adjustable) from EMA21 on the 15m.
Indicates potential snapback to EMAs.
🔺 Green / Orange EMA Reversal Triangles
Appear when stochastics are extreme
AND price pulls back into EMAs while the EMAs are correctly postured (bullish or bearish).
Indicates a high-probability reversal.
💎 Purple Diamond Super Reversal
Appears when EMA reversal conditions are met
AND there is divergence on the fast stochastic (Stoch1).
Strongest reversal signal.
✅ Confluence Checks Built In
✔ Multi-timeframe stochastic alignment (15m, 5m, 1m)
✔ EMA posture (bullish or bearish stack)
✔ EMA pullback logic or EMA distance check
✔ VWAP reversion point consideration
✔ Divergence detection for strongest signals
✅ How to Use
Use on a 15-minute chart (optimal).
Look for Super Reversal diamonds first (highest conviction).
Confirm with price action and key levels before entry.
Combine with order flow, liquidity sweeps, or market structure for best results.
⚙ Settings
EMA Distance Threshold (%) → Default 0.05 (for Mean Reversion Dots).
Increase for fewer, stronger signals.
Decrease for more sensitivity.
📌 Best Practices
Focus on reversals during London & NY sessions.
Avoid trading against strong higher timeframe trends without extra confirmation.
Use tight stops and let winners run when the setup is strong.
💡 This tool is built to highlight only the cleanest reversal setups with layered confluence. Use it to filter noise and stay disciplined with your entries.
Savitzky Flow Bands [ChartPrime]An advanced trend-following tool that applies the Savitzky-Golay smoothing algorithm to price and dynamically adapts trend bands to visualize directional bias and trend strength.
savitzky_golay_filter_w_15_vectors(source) =>
float sum = 0.0
float polynomial = 0.0
float coefficients = array.new(16)
// Predefined 15 coefficients
for i = -4 to 4
coefficients.set(i + 4, i) // from -4 to 5
if i == 4
for j = 5 to -4
for g = 8 to 15
coefficients.set(g, j) // from 5 to -4
// Calculate normalization factor as the sum of absolute values of coefficients
float norm_factor = coefficients.sum()
// Loop through coefficients and calculate the weighted sum
for i = 0 to coefficients.size()-1
sum := sum + coefficients.get(i) * source
// Calculate the smoothed value
for i = 1 to length-1
polynomial := math.sum(sum / norm_factor, i) / i
polynomial
⯁ KEY FEATURES & HOW TO USE
Savitzky-Golay Filtered Line (Basis):
Smooths out price noise using the Savitzky-Golay method, offering a more refined trend path than traditional moving averages. This centerline acts as the trend anchor and visually changes color depending on its slope to reflect the active trend direction.
Dynamic Trend Bands (Upper/Lower):
Constructed from the filtered line with a dynamic offset based on recent price volatility (ATR). These bands shift based on price pressure and are locked once price closes beyond them.
Helpful for identifying breakout moments or exhaustion areas where reversals are likely.
Trend Direction Detection:
A directional signal is confirmed when price breaks and closes above the upper band (uptrend) or below the lower band (downtrend).
Provides a clear and systematic way to identify when a trend begins.
Trend Duration Counter (Visual Decay Line):
A fading overlay line shows how long a trend has been active since the last reversal. The longer the trend persists, the more transparent this extension becomes.
This visual fading effect helps traders anticipate potential trend exhaustion and prepare for reversals or take-profit zones.
Reversal Signals (Diamond Markers):
Diamond shapes are plotted at each market shift, allowing users to visually pinpoint when the trend has flipped.
These markers act as decision zones for entry, exit, or stop-loss adjustments based on directional flow changes.
Color-Based Bar and Candle Painting:
Candles are painted green in uptrends and orange in downtrends, providing an intuitive glance at trend state without needing to interpret numbers.
Helps users stay aligned with the trend visually and avoid counter-trend entries.
⯁ CONCLUSION
The Savitzky Flow Bands indicator offers a modernized, visually rich way to track trend shifts using a scientific smoothing method. With dynamic trend envelopes, color-coded cues, and visual markers, it equips traders with a structured framework to follow the market's flow and make data-driven decisions. Ideal for swing traders, momentum strategists, or any trader looking to trade in sync with the prevailing trend.
3-Bar ReversalAbout the Script
This script automatically detects and plots a signal when a Three-Bar Reversal pattern appears on the chart, helping traders identify potential trend reversals with ease.
How to Use the Script
1) Add the script to your chart.
2) Customize the visual appearance to match your preferences.
3) Click "OK" to apply the changes.
Once configured, the script will highlight valid Three-Bar Reversal patterns when they form.
How the Script Works
The Three-Bar Reversal pattern consists of three consecutive candlesticks, each playing a crucial role in identifying market shifts:
First Bar: Represents the existing trend.
In a bullish reversal, the first bar is typically bearish (downward).
In a bearish reversal, the first bar is typically bullish (upward).
Second Bar: Indicates indecision or trend exhaustion.
This bar often has a smaller body (such as a doji or spinning top), showing weakening momentum.
It may also feature wicks on both sides, reflecting market uncertainty.
Third Bar: Confirms the reversal.
In a bullish reversal, the third bar closes above the high of the first bar, signaling a potential upward move.
In a bearish reversal, the third bar closes below the low of the first bar, signaling a potential downward trend.
Once the pattern is confirmed, a marker will appear below the third bar, helping traders quickly spot opportunities.
Momentum Nexus Oscillator [UAlgo]The "Momentum Nexus Oscillator " indicator is a comprehensive momentum-based tool designed to provide traders with visual cues on market conditions using multiple oscillators. By combining four popular technical indicators—RSI (Relative Strength Index), VZO (Volume Zone Oscillator), MFI (Money Flow Index), and CCI (Commodity Channel Index)—this heatmap offers a holistic view of the market's momentum.
The indicator plots two lines: one representing the current chart’s combined momentum score and the other representing a higher timeframe’s (HTF) score, if enabled. Through smooth gradient color transitions and easy-to-read signals, the Momentum Nexus Heatmap allows traders to easily identify potential trend reversals or continuation patterns.
Traders can use this tool to detect overbought or oversold conditions, helping them anticipate possible long or short trade opportunities. The option to use a higher timeframe enhances the flexibility of the indicator for longer-term trend analysis.
🔶 Key Features
Multi-Oscillator Approach: Combines four popular momentum oscillators (RSI, VZO, MFI, and CCI) to generate a weighted score, providing a comprehensive picture of market momentum.
Dynamic Color Heatmap: Utilizes a smooth gradient transition between bullish and bearish colors, reflecting market momentum across different thresholds.
Higher Timeframe (HTF) Compatibility: Includes an optional higher timeframe input that displays a separate score line based on the same momentum metrics, allowing for multi-timeframe analysis.
Customizable Parameters: Adjustable RSI, VZO, MFI, and CCI lengths, as well as overbought and oversold levels, to match the trader’s strategy or preference.
Signal Alerts: Built-in alert conditions for both the current chart and higher timeframe scores, notifying traders when long or short entry signals are triggered.
Buy/Sell Signals: Displays visual signals (▲ and ▼) on the chart when combined scores reach overbought or oversold levels, providing clear entry cues.
User-Friendly Visualization: The heatmap is separated into four sections representing each indicator, providing a transparent view of how each contributes to the overall momentum score.
🔶 Interpreting Indicator:
Combined Score
The indicator generates a combined score by weighing the individual contributions of RSI, VZO, MFI, and CCI. This score ranges from 0 to 100 and is plotted as a line on the chart. Lower values suggest potential oversold conditions, while higher values indicate overbought conditions.
Color Heatmap
The indicator divides the combined score into four distinct sections, each representing one of the underlying momentum oscillators (RSI, VZO, MFI, and CCI). Bullish (greenish) colors indicate upward momentum, while bearish (grayish) colors suggest downward momentum.
Long/Short Signals
When the combined score drops below the oversold threshold (default is 26), a long signal (▲) is displayed on the chart, indicating a potential buying opportunity.
When the combined score exceeds the overbought threshold (default is 74), a short signal (▼) is shown, signaling a potential sell or short opportunity.
Higher Timeframe Analysis
If enabled, the indicator also plots a line representing the combined score for a higher timeframe. This can be used to align lower timeframe trades with the broader trend of a higher timeframe, providing added confirmation.
Signals for long and short entries are also plotted for the higher timeframe when its combined score reaches overbought or oversold levels.
🔶Purpose of Using Multiple Technical Indicators
The combination of RSI, VZO, MFI, and CCI in the Momentum Nexus Heatmap provides a comprehensive approach to analyzing market momentum by leveraging the unique strengths of each indicator. This multi-indicator method minimizes the limitations of using just one tool, resulting in more reliable signals and a clearer understanding of market conditions.
RSI (Relative Strength Index)
RSI contributes by measuring the strength and speed of recent price movements. It helps identify overbought or oversold levels, signaling potential trend reversals or corrections. Its simplicity and effectiveness make it one of the most widely used indicators in technical analysis, contributing to momentum assessment in a straightforward manner.
VZO (Volume Zone Oscillator)
VZO adds the critical element of volume to the analysis. By assessing whether price movements are supported by significant volume, VZO distinguishes between price changes that are driven by real market conviction and those that might be short-lived. It helps validate the strength of a trend or alert the trader to potential weakness when price moves are unsupported by volume.
MFI (Money Flow Index)
MFI enhances the analysis by combining price and volume to gauge money flow into and out of an asset. This indicator provides insight into the participation of large players in the market, showing if money is pouring into or exiting the asset. MFI acts as a volume-weighted version of RSI, giving more weight to volume shifts and helping traders understand the sustainability of price trends.
CCI (Commodity Channel Index)
CCI contributes by measuring how far the price deviates from its statistical average. This helps in identifying extreme conditions where the market might be overextended in either direction. CCI is especially useful for spotting trend reversals or continuations, particularly during market extremes, and for identifying divergence signals.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
MA Sabres [LuxAlgo]The "MA Sabres" indicator highlights potential trend reversals based on a moving average direction. Detected reversals are accompanied by an extrapolated "Sabre" looking shape that can be used as support/resistance and as a source of breakouts.
🔶 USAGE
If a selected moving average (MA) continues in the same direction for a certain time, a change in that direction could signify a potential reversal.
In this publication, when a trend change occurs, a sabre-shaped figure is drawn which can be used as support/resistance:
A sabre can be indicative of a direction, however, it can also act as a stop-loss when the price should go in the opposite direction:
Or show potential areas of interest:
🔶 DETAILS
This publication will look for a change in direction after the MA went in the same direction during x consecutive bars (settings: " Reversal after x bars in the same direction ").
Then a circle-shaped drawing will be drawn 1 bar back, at the previous high/low, dependable of the previous direction.
From there originates a sabre-shaped figure where the tip lies as far as the user-set MA length.
The angle of the "sabre" relies on the ATR of the previous 14 bars.
Less volatility will create a flatter sabre while the opposite is true when there is more volatility in the previous 14 bars.
The sabre is created by the latest feature, polylines , which enables us to connect several 'points', resulting in a polyline.new() object.
Do note that sabres are offset by one bar to the past to align their locations.
🔶 SETTINGS
MA Type: SMA, EMA, SMMA (RMA), HullMA, WMA, VWMA, DEMA, TEMA, NONE (off)
Length: this sets the length of MA, and the length of the sabre shape
Previous Trend Duration: After the MA direction is the same for x consecutive bars, the first time the direction changes, a sabre is drawn
Edri Extreme Points Buy & SellEDRI EXTREME POINTS BUY & SELL INDICATOR
This Buy and Sell (non-repainting) indicator uses signals based on the combined CCI/Momentum and RSI indicators and optional regular divergence.
The idea of the indicator is to look for a potential reversal after the price reached extreme points (overbought or oversold) and signals an entry when the price shows signs of momentum for reversal.
Optionally, it considers finding a divergence while RSI is at the extreme levels to improve the predictability of a possible reversal.
Additionally, the indicator includes a simple Mean Reversion visual on the chart to assist users in identifying extreme price levels and potential reversal opportunities. It features upper and lower bands that can be optionally plotted, showing calculated values where price bounces at those extreme levels.
The purpose of these bands is to help traders avoid getting trapped in the middle of a trend and to guide them to buy low and sell high. (It's important to note that this is purely a visual aid and does not impact the generation of trade signals.)
By utilizing the Mean Reversion bands alongside the entry conditions, traders can gain insights into potential price reversals and make more informed decisions about when to enter or exit trades.
Buy and Sell Entry conditions:
• The indicator looks at the CCI/Momentum indicator to turn positive (if buy) or negative (if sell) after the RSI was overbought or oversold in the recent past.
• It also checks if there is a 3-period regular bullish divergence in the RSI (if buy), or regular bearish divergence (if sell) and consider these in the entry condition.
• If these conditions are met, this indicator suggests that it may be a good time to enter a trade.
In summary this is how this indicator works:
• The indicator takes input settings such as the choice between using CCI or Momentum as the entry signal source, length parameters for CCI/Momentum, RSI levels for overbought and oversold conditions, RSI length, and options to plot mean reversion bands on the chart.
• It calculates the CCI and Momentum and RSI values based on user-defined length..
• It checks for regular bullish and bearish divergences (3 periods) in the RSI if the option is enabled.
• The script plots shapes on the chart to indicate the buy and sell signals based on the entry conditions.
• If the mean reversion bands option is enabled, it calculates the mean reversion, standard deviation, upper band, and lower band values.
• It also plots the upper band, mean reversion line, and lower band on the chart if the mean reversion bands option is enabled.
• This indicator includes alert conditions to generate alerts for the buy and sell signals.
• On top of that, users can opt to use only one alert for both buy and sell signals. (This can save Trading view subscribers with limited alerts.)
Important! Please do not consider everything you read here as financial advice. Additionally, do not rely solely on indicators for making your trading decisions. It is important to note that no indicator or strategy is perfect. Therefore, it is always recommended to backtest everything and practice proper risk management.
I appreciate your feedback on this indicator. As I am new to script development, I am open to comments and suggestions to improve it. If you encounter any issues while using this indicator, please let me know in the comments section. If you find it helpful, I kindly ask for your support in boosting it. Thank you for your cooperation.
Recursive Reversal Chart Patterns [Trendoscope]Caution: This algorithm is very heavy and bound to cause timeouts. If that happens, there are few settings you can change to reduce the load. (Will explain them in the description below)
🎲 Recursive Reversal Chart Patterns Indicator
Welcome to another exploration of Zigzag and Pattern ecosystem components. Previously we derived Pitchfork and Recursive Zigzag indicators. This indicator is designed to scan and highlight few popular "Reversal Chart Patterns". Similar to other indicators in the ecosystem, this too is built on recursive zigzags.
Double Taps
Triple Taps
Cup and Handles
Head and Shoulders
Indicator however names the patterns separately for bullish and bearish formations. So, the actual names you see on the screen are
Double Top
Double Bottom
Triple Top
Triple Bottom
Cup and Handle
Inverted Cup and Handle
Head and Shoulders
Inverse Head and Shoulders
Here is a snapshot on how each category of patterns look on the chart.
🎲 Architecture
Many of you may be cursing me for publishing too many libraries. But, these are all preparations for something big. Like other indicators in the Zigzag and Patterns Ecosystem, this too uses a bunch of libraries.
🎯Major direct dependencies
ZigzagTypes
ZigzagMethods
ReversalChartPatternLibrary
🎯Indirect dependencies
DrawingTypes
DrawingMethods
🎯Minor dependencies
Utils
TradeTracker
🎲 Indicator Settings
🎯Generic and Zigzag Settings.
Note: In case of timeout, please decrease the value of depth parameter
🎯Pattern Selection
Having all the patterns selected on chart may also cause timeouts and will make the chart look messy. It is better to limit one or two patterns on the chart to have clear picture.
🎯Scanner Settings
🎯Indicators.
These are options to use indicators as secondary confirmation to calculate divergence. If selected, the patterns are shown only if the divergence data is inline. Option also available to plugin external indicator. These calculations are not straightforward and not easy to measure by manual inspection. This feature at present is purely experimental.
Have a go and let me know how you feel :)
1-2-3 Pattern (Expo)█ Overview
The 1-2-3 pattern is the most basic and important formation in the market. Almost every great market move has started with this formation. That is why you must use this pattern to detect the next big trend. In fact, every trader has used the 1-2-3 formation to detect a trend change without realizing it.
Our 1-2-3 Pattern (Expo) indicator helps traders quickly identify the 1-2-3 Reversal Pattern automatically. By analyzing the price action data, the indicator shows the pattern in real-time. When the pattern is discovered, the 1-2-3 Pattern (Expo) Indicator notifies you via its built-in alert feature! Catching the upcoming big move can't be that much simpler.
█ How to use
The 1-2-3 pattern is used to spot trend reversals. The pattern indicates that a trend is coming to an end and a new one is forming.
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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!
AG FX - Pivot PointsPivot Points High Low
Definition
The Pivot Points High Low indicator is used to determine and anticipate potential changes in market price and reversals. The Highs referred to in the title are created based on the number of bars that exhibit lower highs on either side of a Pivot Point High, whereas the Lows are created based on the number of bars that exhibit higher lows on either side of a Pivot Point Low.
Calculations
As mentioned above, Pivot Point Highs are calculated by the number of bars with lower highs on either side of a Pivot Point High calculation. Similarly, Pivot Point Lows are calculated by the number of bars with higher lows on either side of a Pivot Point Low calculation.
Takeaways and what to look for
A Pivot Point is more significant or noteworthy if the trend is extended or longer than average. This can mean if a trader selects a higher period for before and after the Pivot Point, the trend could be longer and therefore prove the Pivot Point itself more notable.
Additionally, Pivot Points can help a trader assess where would be best to draw. By analyzing price changes and reversals, a trader has more of an ability to determine and predict price patterns and general price trends.
Summary
The Pivot Points High Low indicator can predict and determine price changes and potential reversals in the market. Pivot Points can also help traders identify price patterns and trends, depending on the period and significance of the Pivot Point value.
Volume Records + AlertContents
Overall Introduction
Settings menu parameters
Usage
How to use alerts
Limits
Overall Introduction
This indicator is a "volume analysis" tool for confirming the direction and strength of price trend and spotting trend reversals. This tool consists of two parts:
1- The colored graph is a custom volume oscillator which shows the relative changes in volume.
The darkening of the color of the bars is a sign of increasing volume.
2- Triangular labels that show trading volume records over different time periods based on the absolute values of the volume.
By creating an alert, you can be notified of new trading volume records. These records are:
Highest / lowest volume in one year,
Highest / lowest volume in six month
Highest / lowest volume in three month
Highest / lowest volume in one month
Highest / lowest volume in one week
Settings menu parameters
{Short Length} =>
The fast volume MA of the Volume Oscillator.
{Long Length} =>
The slow volume MA of the Volume Oscillator.
{Visual Parameters} =>
Parameters to personalize the appearance of the indicator.
{Alert Conditions Part 01: Highest Records ⏰ } =>
Parameters to customize the alert.
{Alert Conditions Part 02: Lowest Records ⏰ } =>
Parameters to customize the alert.
Usage
This indicator is a "volume analysis" tool for confirming the direction and strength of price trend and spotting trend reversals.
What Is Volume Analysis?
Volume analysis involves examining relative or absolute changes in an asset's trading volume in order to make inferences about future price movements.
A significant price increase along with a significant volume increase, for example, could be a credible sign of a continued bullish trend or a bullish reversal.
The gradual darkening of the bars is a sign of the strength of the trend.
Volume can be an indicator of market strength, as rising markets on increasing volume are typically viewed as strong and healthy.
How to use alerts
Note that by creating an alert, an instance of the indicator, with all your settings, will be activated on the site's server and alerts will be triggered by it.
After that, changing the indicator settings on the chart will no longer affect the alert.
Open the settings window and select the alert conditions as you wish
Click the Create Alert button (or press the A key while holding down the ALT key)
In the Condition section, select the name of the indicator.
Make the rest of the settings as you wish.
Finally, click on the Create button.
It's finished. After a few moments, your alert will be added to the Alerts menu.
Limits
The labels are displayed after the bars close.
Labels are displayed for the last 10,000 bars.
[blackcat] L1 Composite RSI-DMI Reversal IndicatorLevel: 1
Background
The Relative Strength Index (RSI) developed by J. Welles Wilder is a pulse oscillator that measures the speed and change of price movements. The RSI hovers between zero and 100. Traditionally, the RSI is considered overbought when it is above 70 and oversold when below 30. Signals can be generated by looking for divergences and error fluctuations. RSI can also be used to identify the general trend.
The Directional Movement Index (DMI) is an indicator developed by J. Welles Wilder in 1978 that indicates the direction in which the price of an asset is moving. The indicator compares previous highs and lows and draws two lines: a positive directional movement line (+ DI) and a negative directional movement line (-DI). An optional third line called Directional Movement (DX) shows the difference between the lines. When + DI is above -DI there is more upward pressure than downward pressure in price. When -DI is above + DI, the price continues to fall. This indicator can help traders estimate the direction of the trend. Crossovers between the lines are also sometimes used as trading signals to buy or sell.
Function
L1 Composite RSI-DMI Reversal Indicator combines J. Welles Wilder's RSI and DMI indicators together to identify trend reversals.
Key Signal
swinglow --> swing signal
trend --> trend signal to identify top reversal
Pros and Cons
Pros:
1. it exhibit leading character
2. it can disclose top and bottom reversals
Cons:
1. noise exists
2. depends on market and trading pairs
Remarks
Composite J. Welles Wilder indicator
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Supertrend Screener LABELThis screens for Supertrend reversal's in 10 different securities. The main logic for the screener is taken from "Simple Custom Screener in Pinescript" by QuantNomad with his permission. If the label color is not visible due to the text in it being white colored, then choose a different color from settings. Also added a simple supertrend to it.
Terminology explanation:
Confirmed Reversal: Supertrend reversal that happened in the last bar and cannot be repainted.
Potential Reversal: Supertrend reversal that might happen in the current bar but can also not happen depending upon the timeframe closing price.
Uptrend/Downtrend : Shows all the tickers that are either currently in uptrend or downtrend.
20 Pips & Dip™ Indicator20 Pips & Dipp script based on a few different indicators which together provides powerful help for all level of traders, especially beginners. Also, script have toggles to switch on/off: Renko Reversal, EMA, HHLL, Support/Resistance, Daily Open modules.
1st Module – Renko Reversal Alerts Indicator. The Indicator point out a spot where the revers are happens. Any changes in Price that do not reach a minimum amount are usually filtered. This helps to keep attention on larger, significant moves, and helps not to avoid the minute fluctuations in the market.
How it’s works?
- ENTER a trade JUST AFTER 1 Renko brick is printed. BUY triangle (green buy text with green triangle) is generated if a bearish Renko Brick is followed by a bullish brick. In other words, a buy signal happens when a white block is drawn after a black one. The buy happens then at the closing price that may be higher than the top of the last brick. It can go two bricks up minus a tick or pip.
- EXIT that trade, and open a new reverse position, just after 1 Renko brick is printed in the opposite direction. SELL triangle (red sell text with red triangle) is generated if a bullish brick is followed by a bearish brick. In other words, a sell signal happens when a black block is drawn, after a white block. The same situation as with a buy signal happens on sell signals. There is an uncertainty on the close price that may go as far as one tick above the next potential bearish block.
How to create custom ALERTS? Right click on a sell or buy triangle > Add Alert > 20 Pips & Dipp > Choose between Long or Short opportunity. In options field choose ONCE PER BAR. All other options you can choose according to your personal needs. If you want alert for another option (i.e. Short opportunity) just add one more.
Just to know! To understand how those module work better to switch to Renko chart. But Renko Chart with Renko brick size & Timeframe less than 1 day available only for PRO+ accounts and better. Also, we need to say that TradingView platform do not provide TICK data as we know. So, it may confuse you. Be careful!
2nd Module – Moving Average Exponential. The exponential moving average (EMA) is a weighted moving average (WMA) that gives more weighting, or importance, to recent price data than the simple moving average (SMA) does. The EMA responds more quickly to recent price changes than the SMA. The formula for calculating the EMA just involves using a multiplier and starting with the SMA. Like all moving averages, this technical indicator is used to produce buy and sell signals based on crossovers and divergences from the historical average. By default, our EMA have 50 period. The 50 moving average is the standard swing-trading moving average and very popular. Most traders use it to ride trends because it’s the ideal compromise between too short and too long term. Some people call it medium-term.
How to use it? EMAs are commonly used in conjunction with other indicators to confirm significant market moves and to gauge their validity. For traders who trade intraday and fast-moving markets, the EMA is more applicable. Quite often, traders use EMAs to determine a trading bias. For example, if an EMA on a daily chart shows a strong upward trend, an intraday trader’s strategy may be to trade only from the long side on an intraday chart.
Limitations of EMA! An EMA relies wholly on historical data. Many people believe that markets are efficient - that is, that current market prices already reflect all available information. If markets are indeed efficient, using historical data should tell us nothing about the future direction of asset prices.
3rd Module - Pivot Points (High/Low). Also known as Bar Count Reversals, are used to anticipate potential price reversals. Pivot Point Highs are determined by the number of bars with lower highs on either side of a Pivot Point High. Pivot Point Lows are determined by the number of bars with higher lows on either side of a Pivot Point Low. Default period is 10.
How this indicator works? The longer the trend (the higher the period selected) before and after the Pivot Point, the more significant the Pivot Point. Pivot Points can be used to help determine where to draw trendlines in order to visualize price patterns.
Calculation! Pivot Point Highs are determined by the number of bars with lower highs on either side of a Pivot Point High. Pivot Point Lows are determined by the number of bars with higher lows on either side of a Pivot Point Low.
4th Module - Higher High Lower Low indicator. Higher high and higher lows and Lower lows and lower highs are trends in a chart. Stocks in general never go up or down in linear fashion, every rise is followed by correction and then again it may either go up or down, same is true for downtrend every fall is followed by a correction in the upward direction and then new downtrend or uptrend is followed. After every rise, the stock took breather corrected to some extent and then new uptrend began, when you see the correction every low is higher than the previous lows and every next peak is higher than it’s previous peak. This is higher highs and higher lows trend.
How it’s work? This script finds pivot highs and pivot lows then calculates Higher Highs, Higher Lows & Lower Lows, Lower Highs. And it calculates support/resistance by using HH-HL-LL-LH points. Generally, HH and HL shows up-trend, LL and LH shows down-trend. If price breaks resistance levels it means the trend is up or if price breaks support level it means the trend is down, so the script can change bar colour blue or black by default. if there is up-trend then bar colour is blue, or if down-trend then bar colour is black. Support and resistance levels change dynamically.
Trick! If you use smaller numbers for Left Hand/Right Hand sides then it will be more sensitive!
5th Module - Daily Open Price. The opening price is the price at which a security first trades upon the opening of an exchange on a trading day; for example, the New York Stock Exchange (NYSE) opens at precisely 9:30 a.m. Eastern time. The price of the first trade for any listed stock is its daily opening price. The opening price is an important marker for that day's trading activity, particularly for those interested in measuring short-term results such as day traders.
Important! If daily open price was higher than current price, crosses will be red. And if daily open price lower than current price crosses will be green. Colours change dynamically.
You need to know it! An opening price is not identical to the previous day's closing price. There are several day-trading strategies based on the opening price of a market or security. Research “Gap Fade and Fill” or “Fade”.
Author – Christian Kopachelli . Huge thanks and credits to peoples which ideas, formulas, calculations, code snippets and code parts were used: Robert Nance, CryptoJoncis , FritzHaber , vacalo69 , Molle de Jong, Baris Yakut, LonesomeTheBlue , ChrisMoody , Robert N. ~~~ THANK you all! You are awesome!
DISCLAIMER! RISK WARNING!
PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. TRADERS SHOULD NOT BASE THEIR DECISION ON INVESTING IN ANY TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED, ADDITIONALLY, IN MAKING AN INVESTMENT DECISION, TRADERS MUST ALSO RELY ON THEIR OWN EXAMINATION OF THE PERSON // OR ENTITY MAKING THE TRADING DECISIONS.
XABCD ScannerXABCD Scanner for TradingView
These bullish and bearish 5-point patterns are based on various Fibonacci retracement levels and signify potential reversal zones (PRZ).
As they become 80% complete, the dashed-line pattern will appear, displaying the PRZ and giving you time to prepare for a reversal.
Different combinations of specific fib retracements and extensions result in different patterns, and each is named for identification.
Bullish patterns signify a potential turn to the upside are colored green.
Bearish patterns signify a potential turn to the downside are colored red.
9 popular patterns are currently recognized.
XABCDs can be applied to all markets: crypto, forex, commodities, indices, etc.
For access, please visit the link in our Signature below, or shoot us a PM.
