RSI CCI Correlating Oscillator (RCCO) by empowerTRCCO is pronounced "ree-koh" or "rico".
The RCCO is simply the plot of the values of both the RSI and CCI added together.
The RCCO makes some adjustments though, so that both the RSI and the CCI will fit correctly on the same scale - and so that these adjustments for scale allow reversals to be detected at crossings.
When the CCI crosses from underneath to up above the RSI, this is usually a bullish reversal. Alternatively, when the CCI crosses from above to back under the RSI, that usually signals a bearish trend. Look for the widest swings you can find to ensure good momentum. The larger the volume, the clearer and more decisive the trends. Low volume will lead to ranging and lazy momentum. High volume will create clear and forceful trends. The lowest negative RCCO in a timeframe, and then add some high volume... and you have yourself a good setup for a successful trade.
Because the RSI and CCI are adjusted, you may not recognize their values from having used the respective indicators on their own. The RSI and CCI values are less important. What matters with this indicator are the crossings and the RCCO value. The RCCO value should be negative, preferably, a deeply negative value. Look at the historical chart for the target per your selected timeframe and decide what values work for you.
I hope you enjoy the RCCO and that it can help you become a little más RICO!
Pesquisar nos scripts por "reversal"
Folded Relative Strength Index [CC]The Folded Relative Strength Index was created by Richard Poster (Stocks and Commodities July 2021 pg 21) and this indicator provides both trend strength but also momentum and of course reversal points using the overbought and oversold markers. If the indicator line is above the mid line then this shows upward momentum and when it falls below the midline then this means it is losing momentum. When the indicator rises above the signal line then this shows upward trend strength and vice versa. Buy when the indicator line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!
Line Break Chart StrategyHello All!
We should not pass this year without a gift!
My last publication in 2024 is Complete Line Break Chart Strategy with many features!
What is Line Break Chart?
" Line Break is a Japanese chart style that disregards time intervals and only focuses on price movements, similar to the Kagi and Renko chart styles. Line Break charts form a series of up and down bars (referred to as lines). Up lines represent rising prices, and down lines represent falling prices. New confirmed lines only form on the chart when closing prices break the range covered by previous lines. Users can control the number of past lines used in the calculation via the "Number of Lines" input in the chart settings. The typical "Number of Lines" setting is 3, meaning the chart forms a new up line when the closing price is above the high prices of the last three lines, and it forms a new down line when the closing price is below the past three lines' low prices. If the current price is higher, it is an up line and if it is lower, it is a down line. If the current closing price is the same or the move in the opposite direction is not large enough to warrant a reversal, l then no new line is draw n" by Tradingview. You can find it here
Now let's start examining the features of the indicator:
By using Line break reversals it shows trend on the main chart. You can create alert .
Moreover, you can decide which trade should be taken by using Risk Management in the indicator. You can set the " Maximum Risk " and then if the risk is more than you set then the trade is not taken. When trend changed it checks the distance between reversal level and open price and compare it with the Maximum Risk
Breakout:
It can find breakouts and shows on the chart. You can create alert for breakouts
It can show breakouts on the main chart:
Flip-Flops:
Upon looking at set of price break charts, the trader will notice that there are instances when uptrend blocks is followed by one reversal block, and then by a reversal to a series of uptrend blocks. The opposite is also possible: a series of downtrend blocks is followed by one reversal box and then by an immediate reversal to downtrend. This price action is called a " Flip-Flop ". This structure usually produces trend continuation signal. when we see this then we better use Buy/Sell stop order. lets see this on the chart:
Temporal Sequence Table:
Sequence frequency shows the frequency distribution of the number of sequential highs and the number of sequential lows that have been generated. This is quite important to the trader who is seeking to join a trend or put on a trade when the price break reverses into a new trend direction. For example, if the pattern over the past year has been that there never were more than nine consecutive high closes, it would make sense not to enter a position late into the sequence of new high closes.
also you can see market structure. I have tried to formalize it and show it under the table. so you can understand if it's choppy market.
"Number of Lines" has very important role. While using low time frames such seconds/minutes time frame you may want to choose higher number of lines such 5,6. ( this may minimize the risk of a whipsaw )
Gaps feature:
You can set Gaps on/off. if Gaps on then you can see how long it takes for each box
Reversal and Continuation Probability:
The script calculated Reversal level and Continuation probability of the trend by using Sequence frequency.
It also shows unconfirmed box and current closing price level:
Last but not least it has Overlay option for all items, and can show all items in the main chart!
P.S. I added alerts :)
Wish you all a happy new year!
Enjoy!
ArcTan Oscillator [LuxAlgo]The following indicator is a normalized oscillator making use of the arc tangent sigmoid function (ArcTan), this allows to "squarify" the output result, thus visually filtering out certain variations originally in the oscillator. The magnitude of this effect can be controlled by the user. The indicator contains a gradient that shows the possibility of a reversal, with red colors indicating that a reversal might occur.
Settings
Length : Period of the oscillator
Pre-Gain : Changes the amplitude of the oscillator before passing through the ArcTan function, this allows to amplify/reduce the "squarification" effect introduced by this function. In order to make it easier for the user, the setting is in a (-10,10) range, with negative values reducing the amplitude and positive one increasing it.
Src : Source input of the indicator
Usage
The oscillator can be used to determine the direction of the trend by looking at its sign, if the oscillator is positive, market is up-trending, else down-trending, based on this usage the user might not be interested to look at every variations produced by the oscillator, this is where the hyperbolic tangent function and pre-gain setting can be useful, by using an high value of pre-gain the user will be able to only focus on the sign of the oscillator.
Here pre-gain is set to 5, we can see that the oscillator is now easier to visualize. However, the use of sigmoid functions remove useful information for a trader that needs to find divergences, this is where using a negative value of the pre-gain setting will result useful.
Here pre-gain is set to -5.
The indicator makes use of a gradient to show potential reversals, this gradient is determined by the correlation between the oscillator and the price (this is a way to measure potential divergences). If the color is closer to red it means that a potential reversal might occur, it is possible to say in which direction price might go by looking at the sign of the oscillator, so if the gradient is red and the oscillator is negative price might rise. The gradient is not affected by the pre-gain setting.
HFX543This indicator will provide the possibility of when trend reversals may happen on any time frame. It can work on any time frame and the use of Heiken Ashi candles can enhance it further.
When used with other indicators such as the MACD it can increase the possibility of a trend reversal being identified. On shorter time frames the alerts are much more frequent therefore can be less accurate so other indicators can be used.
It will show an alert Arrow for the First Flat BOTTOM Candle that has flipped on the PSAR and when the MACD has a crossover to the upside within one bar either side of the candle and those that are directly below the candle.
It will show an alert Arrow for the First Flat TOP HA Candle that has flipped on the PSAR + when the MACD has a crossover to the downside within one bar either side of the candle and those that are directly below the candle.
The Bollinger Bands have been added to enhance the possibility of a trend reversal occurring when the price reaches the Bollinger Band extremities and these should be paid attention to along with the Higher Highs (HH) and Lower Lows (LL).
The Colour changes on the Bollinger Band Moving Average from Red to Green to support a trend change possibility.
This has been designed to provide a visual confirmation that selected indicators have met certain criteria and that the trend has the possibility of reversing in the near future.
It is NOT meant to be a trading system or offer trading advice. The indicator offers only possibilities of trend reversals when the above criteria is met.
This is designed for Trend analysis ONLY.
To gain access to this invite only script, please send me a private message on Trading View so I can assist you further.
Thanks Les Gallagher
Fearzone & Greedzone Levels - Contrarian & Breakout (Expo)"Be fearful when others are greedy, and greedy when others are fearful" - Warren Buffett. Fearzone & Greedzone Levels - Contrarian & Breakout (Expo) is a contrarian and breakout indicator that gives us an indication when fear and greed begins to take over in the market. Traders should be prepared for increased volatility and good trading opportunities.
This indicator can both be used to identify potential reversal points and be used to identify breakouts from previous Fear and Greed Levels.
The Fearzone and Greedzone can be visualized with candlesticks or with circles depending on what you prefer.
Alert conditions are added.
HOW TO USE
1. Use the indicator to identify when investors are fearful and greedy.
2. Use the indicator to identify potential reversal points.
3. Use the indicator to identify potential breakouts.
INDICATOR IN ACTION
4 hour chart
4 hour chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
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Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas 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, 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 are only for educational purposes!
Candlestick Reversal SystemHello Traders,
In the book "Secrets of a Pivot Boss: Revealing Proven Methods for Profiting in the Market" by Franklin Ochoa, Four different types of reversal systems were introduced and candlestick patterns are used to find reversals. I will not write a lot about the book, you should get/read it for yourself. There are many great ideas in the book, Candlesetick Reversal System, Following Trend, Time Price Opportunity, Advanced Camarilla Concepts and much more.
Reversal systems mentioned in the book are :
- Wick Reversal System
- Exteme Reversal System
- Outside Reversal System
- Doji Reversal System
I tried to add these four reversal systems to the script. If you need detailed info you better read the book ;)
Enjoy!
(JS)DMI BarsAlright - so this is my own version of John Carter's "10x Bars"... I have done multiple things that are different from his version so they are slightly different..
So first of all the main indicator is based off of the ADX and the DMI;
For those who aren't familiar with it, Directional Movement is what you'd pull up under "built-in's" from the indicators tab (if you want to check it out).
The standard interpretation of this however, is when the ADX is above 20 that suggests the trend is strong, whereas under 20 suggests it is weak.
Also, when the D+ is above the D- that suggests a bullish trend, and D- above D+ suggests a bearish trend.
These bars take away the need to have it at the bottom of your screen, and places the data on the bars on your chart instead.
=========================================================================================================================================
So here's what the colors stand for -
Yellow - The ADX is under 20, no strength in trend
Shades of green occur when the ADX is above 20 and there's a bullish trend (D+ higher than D-)
Bright Green (Lime) - Bullish trend, D+ above 30
Green - Bullish Trend
Yellow Green - Bullish trend, D+ below 15
Shades of red occur when the ADX is above 20 and there's a bearish trend (D- higher than D+)
Bright Red - Bearish trend, D- above 30
Red - Bearish Trend
Orange - Bearish trend, D- below 15
=========================================================================================================================================
I have also added multiple time frame labels (label script used is the one created by Ricardo Santos)
These labels are color coded the same as the bars/candles, and they appear off to the right of your screen using every built in time increment from TradingView.
The purpose is to show you in real time, and on any chart resolution, what the current trend is on every individual time frame.
So using just one single chart you'll see your current resolutions candles, but also on the labels you'll see:
1 Minute
3 Minute
5 Minute
15 Minute
30 Minute
45 Minute
1 Hour
2 Hour
3 Hour
4 Hour
Daily
Weekly
Monthly
There is an input I added that allows you to adjust where your labels appear on the side of your screen as well!
=========================================================================================================================================
Now onto the volume spike portion of the indicator. This will plot a blue dot under each bar that has a spike in volume which meets your specified criteria.
I have 500% as the default setting.
What that means is that this indicator looks back and gets the 50 bar volume average and then applies dots where volume is 500% above average.
=========================================================================================================================================
Now finally, the reversal arrows. This is another simple to understand concept that I first read in John Carter's book "Mastering the Trade" that he calls "HOLP/LOHP".
I have added the ability to change the look back period you'd like the indicator to watch for highs and lows on.
What that stands for is 'High of Low Period' and 'Low of High Period', and it is used like this-
Whenever a bar makes a new high the indicator watches the low on that highest bar. Then when a bar afterwards makes a lower low then the one on the high bar,
a reversal arrow is given. Apply this same concept in the other direction in for the highs on the lowest bars.
=========================================================================================================================================
Now, I didn't want to make a "set" or have a bunch of different indicators out there that are all intended for the same package, so I took the time to put them together,
and if there's a part of it you don't care for they can easily be turned off in the settings.
Enjoy!
New Improved Support Resistance / Pivot Points (NO REPAINT)This indicator plots local pivot points / support resistance levels in real time (No Repaint). I created this indicator based on my own research and testing (i.e. it is not just a a Pinescript adaptation of some other indicator available online).
The Problem with Similar Indicators Which Are Currently Available On TradingView:
Inaccurate placement of swing/pivot/SR points (making your screen cluttered with meaningless levels).
Repainting (meaning the historical values change as new data becomes available; this is misleading and not very useful when trading in real time).
Have a long delay before confirming/plotting the new pivot points (20/20 hindsight...).
Require you to specify a lookback period and simply looks for the highest or lowest value over that time frame (which isn't very useful since it disregards all of the swings in between).
Do not show all of the historical swing levels, only the most recent ones.
My Solution:
Accurately places swing/pivot/SR points on local highs and lows once a short term trend is over (allowing you to easily identify reversal points).
Does not repaint (the historic values shown are exactly what would have been seen upon the close of the given candles in live trading; this means you can use this indicator for live trading).
Has minimal lag. New swing lows/highs are typically identified by this indicator on the candle which immediately following the swing point (this allows for better entries/exits rather than waiting for the price to run too far in the wrong direction before confirmation).
No lookback period required. The indicator will automatically identify new swings regardless how long the run lasts.
Allows you to adjust for more/less sensitivity.
P.S.: Future developments will be using these levels to create an automatic plot of fibonacci retracement levels.
Projection Oscillator - Mel Widner, Ph.D.For any Mel Widner, Ph.D fans out there, I present this decades old "Projection Oscillator" employing PSv4.0, originally formulated by Mel Widner for TASC - July of 1995 Traders Tips. Just when you may have thought it was the end of the evolutionary line for Mel Widner technology, it's not! Basically it's a hybridization of linear regression, banding, and a stochastic rolled into one. It's purpose is intended to help identify reversal points.
While working on another member's project, I discovered other implementations on TV and a few scarcely found on the internet, they are not entirely correct and not in a package like this. I'm submitting this as a complimentary indicator for their trading system AND also for the TV community for hybridized indicator evolution. My implementation is a heavily modified version of the original indicator using novel techniques, surpassing Widner's original intended design.
Utilizing the "Power of Pine", I included the maximum amount of features I could surmise in an ultra small yet impressive package. Configurations are displayed above in multiple scenarios that should be suitable for most traders. Of notable mention, the original design was a range from 0-100 just like any other stochastic, but I rescaled the oscillator more towards a zero mean unity scale(+/-1.0), while still leaving the waveforms completely intact.
Features List Includes:
Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting
AND much, much more... you have the source!
For those of you who are new to Pine Script, this script also may help you understand advanced programming techniques in Pine and how they may be utilized in a most effective manner. I would like to see Tradingview become the go to platform for the best indicators attainable with this contribution to the TV community. This is commonly what my dense intricate code looks like behind the veil. If you are wondering why there is no notes, that's because the notation is in the variable naming. If you wish to contribute additional ideas, please do so below in the comments about all things Pine in regards to this indicator.
NOTICE: Copy pasting bandits who may be having nefarious thoughts, DO NOT attempt this, because this may violate Tradingview's terms, conditions and/or house rules regarding publishing and "fair" reuse of code. "WE" are always watching the TV community vigilantly for mischievous behaviors and actions that exploit well intended authors for the purpose of unscrupulously increasing brownie points in reputation scores. Hiding behind a "protected" wall may not protect you from investigation and account penalization by TV staff. Be respectful, and don't just throw a meaningless feature in there, then branding it as "your" gizmo if you reuse this code for publishing another indicator. Fair enough? Alrighty then... I firmly believe in "innovating" future state-of-the-art indicators, and please contact me if you wish to do so.
The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section if you do have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
FUSIONGAPS V5Market bullish/bearish phase indicator , with trend-reversal and golden/death cross indicators.
This the re-implementation of my old script, now allowing the selection between different moving-averaging modes.
Note: In no way is this intended as a financial/investment/trading advice. You are responsible for your own investment decisions and/or trades.
~ JuniAiko
(=^~^=)v~
(JS) Tip-and-Dip Oscillator 2.0I am going to start taking requests to open source my indicators and this is the first one I decided to do. They will also be updated to Version 4 of Pinescript.
I went through and added notes on what each area of the code is, and in this particular case I added color schemes as a way to improve upon the original code.
Link to original:
Original Description:
"Let me start by saying I know that the name is goofy lol
This is an oscillator that that looks at price action vs. standard deviation in order to illustrate the trend. This thing looks like an Awesome Oscillator but the math behind this and the Awesome Oscillator are totally different (which is pretty interesting, given they look a lot alike). I included the Awesome Oscillator on the chart here so you can look at them and see where they are different.
So the Tip-and Dip Oscillator is meant to help you pinpoint tops and bottoms. I even added arrows where the top and bottom signals are given.
The oscillator itself has 3 colors, an up, down, and neutral color that come as green, red, and yellow. Since the readings given by the oscillator can greatly vary depending on the chart resolution, I included an option to edit the range to fit your chart.
Also - I have 4 different smoothing options that you can use depending on what your preference is. The default setting is the most sensitive so it will identify tops and bottoms more frequently, but it is the most accurate when pinpointing the correct reversal candle. As you smooth it out, the arrows will appear less, but my be slightly delayed and give a later reading. I personally prefer the default, but going up to the second setting in smoothing works nicely as well.
Enjoy!"
Multi Divergence Overlay +This Indicator overlays Divergences lines and labels on the chart from multiple sources including RSI, RSI Signal Line and 2 Stochastics and more
The Colors and Labels match my other Divergence Indicators
The divergence script is thanks to @RicardoSantos, I've just adjusted it to suite my indicator
Remember that divergences work best when traded with the trend or very late in a trend when going against the trend
The + Part of this indicator is that it now plots
Exhaustion pivots
&
Bob Rooker - Reversal Tabs and Knoxville Divergences
PivotBoss TriggersI have collected the four PivotBoss indicators into one big indicator. Eventually I will delete the individual ones, since you can just turn off the ones you don't need in the style controller. Cheers.
Wick Reversal
When the market has been trending lower then suddenly forms a reversal wick candlestick , the likelihood of
a reversal increases since buyers have finally begun to overwhelm the sellers. Selling pressure rules the decline,
but responsive buyers entered the market due to perceived undervaluation. For the reversal wick to open near the
high of the candle, sell off sharply intra-bar, and then rally back toward the open of the candle is bullish , as it
signifies that the bears no longer have control since they were not able to extend the decline of the candle, or the
trend. Instead, the bulls were able to rally price from the lows of the candle and close the bar near the top of its
range, which is bullish - at least for one bar, which hadn't been the case during the bearish trend.
Essentially, when a reversal wick forms at the extreme of a trend, the market is telling you that the trend
either has stalled or is on the verge of a reversal. Remember, the market auctions higher in search of sellers, and
lower in search of buyers. When the market over-extends itself in search of market participants, it will find itself
out of value, which means responsive market participants will look to enter the market to push price back toward
an area of perceived value. This will help price find a value area for two-sided trade to take place. When the
market finds itself too far out of value, responsive market participants will sometimes enter the market with
force, which aggressively pushes price in the opposite direction, essentially forming reversal wick candlesticks .
This pattern is perhaps the most telling and common reversal setup, but requires steadfast confirmation in order
to capitalize on its power. Understanding the psychology behind these formations and learning to identify them
quickly will allow you to enter positions well ahead of the crowd, especially if you've spotted these patterns at
potentially overvalued or undervalued areas.
Fade (Extreme) Reversal
The extreme reversal setup is a clever pattern that capitalizes on the ongoing psychological patterns of
investors, traders, and institutions. Basically, the setup looks for an extreme pattern of selling pressure and then
looks to fade this behavior to capture a bullish move higher (reverse for shorts). In essence, this setup is visually
pointing out oversold and overbought scenarios that forces responsive buyers and sellers to come out of the dark
and put their money to work-price has been over-extended and must be pushed back toward a fair area of value
so two-sided trade can take place.
This setup works because many normal investors, or casual traders, head for the exits once their trade
begins to move sharply against them. When this happens, price becomes extremely overbought or oversold,
creating value for responsive buyers and sellers. Therefore, savvy professionals will see that price is above or
below value and will seize the opportunity. When the scared money is selling, the smart money begins to buy, and
Vice versa.
Look at it this way, when the market sells off sharply in one giant candlestick , traders that were short
during the drop begin to cover their profitable positions by buying. Likewise, the traders that were on the
sidelines during the sell-off now see value in lower prices and begin to buy, thus doubling up on the buying
pressure. This helps to spark a sharp v-bottom reversal that pushes price in the opposite direction back toward
fair value.
Engulfing (Outside) Reversal
The power behind this pattern lies in the psychology behind the traders involved in this setup. If you have
ever participated in a breakout at support or resistance only to have the market reverse sharply against you, then
you are familiar with the market dynamics of this setup. What exactly is going on at these levels? To understand
this concept is to understand the outside reversal pattern. Basically, market participants are testing the waters
above resistance or below support to make sure there is no new business to be done at these levels. When no
initiative buyers or sellers participate in range extension, responsive participants have all the information they
need to reverse price back toward a new area of perceived value.
As you look at a bullish outside reversal pattern, you will notice that the current bar's low is lower than the
prior bar's low. Essentially, the market is testing the waters below recently established lows to see if a downside
follow-through will occur. When no additional selling pressure enters the market, the result is a flood of buying
pressure that causes a springboard effect, thereby shooting price above the prior bar's highs and creating the
beginning of a bullish advance.
If you recall the child on the trampoline for a moment, you'll realize that the child had to force the bounce
mat down before he could spring into the air. Also, remember Jennifer the cake baker? She initially pushed price
to $20 per cake, which sent a flood of orders into her shop. The flood of buying pressure eventually sent the price
of her cakes to $35 apiece. Basically, price had to test the $20 level before it could rise to $35.
Let's analyze the outside reversal setup in a different light for a moment. One of the reasons I like this setup
is because the two-bar pattern reduces into the wick reversal setup, which we covered earlier in the chapter. If
you are not familiar with candlestick reduction, the idea is simple. You are taking the price data over two or more
candlesticks and combining them to create a single candlestick . Therefore, you will be taking the open, high, low,
and close prices of the bars in question to create a single composite candlestick .
Doji Reversal
The doji candlestick is the epitome of indecision. The pattern illustrates a virtual stalemate between buyers
and sellers, which means the existing trend may be on the verge of a reversal. If buyers have been controlling a
bullish advance over a period of time, you will typically see full-bodied candlesticks that personify the bullish
nature of the move. However, if a doji candlestick suddenly appears, the indication is that buyers are suddenly
not as confident in upside price potential as they once were. This is clearly a point of indecision, as buyers are no
longer pushing price to higher valuation, and have allowed sellers to battle them to a draw-at least for this one
candlestick . This leads to profit taking, as buyers begin to sell their profitable long positions, which is heightened
by responsive sellers entering the market due to perceived overvaluation. This "double whammy" of selling
pressure essentially pushes price lower, as responsive sellers take control of the market and push price back
toward fair value.
AhzTech_KD_RTI've taken the code Rob Booker has provided for Knoxville Divergence and Reversal Tab indicator into a signal indicator. Script has been updated to include additional alerting and a option to not show the reversal table.
Please leave a comment if this script has been helpful.
ITekSignal Full v1.0 Trend REVERSAL and CONTINUATION ITekSignal Trading System helps you identify trend reversals — quickly and accurately.
There’s a price action pattern that occurs in every market and on every time-frame.
This price pattern shows a fight for balance, between seller and buyers…
When the pattern is completed, that means the fight for balance has ended.
And you’d know which side has won: Seller or Buyers, Supply or Demand, Bulls or Bears.
Once ITekSignal indicator has spotted a reversal, it clearly displays these Buy or Sell alerts on your charts… showing you exactly where possible reversals may occur.
ITekSignal Indicator will draw an up/down arrow on your chart, telling you there’s a trade opportunity for you to consider. So we’d enter the market for a ride of the new trend.
The indicator is also capable of detecting CONTINUATION pattern (in addition to REVERSAL patterns)
ITekSignal indicator gives you all kinds of alerts you’ll ever need:
Trend Reversal alert & Trend Continuation alerts
Contact the Author for Subscription
@iteksignal
iteksignal@gmail.com
Volume Flow OscillatorVolume Flow Oscillator
Overview
The Volume Flow Oscillator is an advanced technical analysis tool that measures buying and selling pressure by combining price direction with volume. Unlike traditional volume indicators, this oscillator reveals the force behind price movements, helping traders identify strong trends, potential reversals, and divergences between price and volume.
Reading the Indicator
The oscillator displays seven colored bands that fluctuate around a zero line:
Three bands above zero (yellow) indicate increasing levels of buying pressure
Three bands below zero (red) indicate increasing levels of selling pressure
The central band represents the baseline volume flow
Color intensity changes based on whether values are positive or negative
Trading Signals
The Volume Flow Oscillator provides several valuable trading signals:
Zero-line crossovers: When multiple bands cross from negative to positive, potential bullish shift; opposite for bearish
Divergences: When price makes new highs/lows but oscillator bands fail to confirm, signals potential reversal
Volume climax: Extreme readings where outer bands stretch far from zero often precede reversals
Trend confirmation: Strong expansion of bands in direction of price movement confirms genuine momentum
Support/resistance: During trends, bands may remain largely on one side of zero, showing continued directional pressure
Customization
Adjust these key parameters to optimize the oscillator for your trading style:
Lookback Length: Controls overall sensitivity (shorter = more responsive, longer = smoother)
Multipliers: Adjust sensitivity spread between bands for different market conditions
ALMA Settings: Fine-tune how the indicator weights recent versus historical data
VWMA Toggle: Enable for additional smoothing in volatile markets
Best Practices
For optimal results, use this oscillator in conjunction with price action and other confirmation indicators. The multi-band approach helps distinguish between minor fluctuations and significant volume events that might signal important market turns.
STWP Probable Pullback/Reversal Indicator with PNL Table1. Overview
The STWP Probable Pullback/Reversal Indicator is a powerful, all-in-one technical tool designed to help traders identify high-probability reversal or pullback opportunities in the market. Built with precision, it combines candlestick patterns, trend validation, RSI strength, and volume analysis to generate more reliable entry signals. This indicator is ideal for intraday and swing traders, especially beginners who struggle to decode market movements or often enter trades too early or too late. It aims to simplify decision-making, reduce guesswork, and improve the timing of entries and exits, ultimately helping traders build more consistent strategies while managing risk effectively.
2. Signal Generation Logic
The signal generation logic of the STWP Probable Pullback/Reversal Indicator is built on a multi-layered confirmation system to ensure high-probability entries. It begins with the identification of powerful candlestick reversal patterns such as Bullish Engulfing, Bearish Engulfing, and the Piercing Line, which are commonly used by professional traders to spot potential reversals. To validate the overall trend, the indicator uses the 200 EMA—signals that align with the EMA trend direction are considered more reliable. An RSI filter is applied to assess whether the stock is in an overbought or oversold zone, helping confirm if the price move is genuinely strong or losing momentum. Additionally, a volume filter is used to tag each signal with either high or low volume, allowing traders to further gauge the strength behind the move. All these components—candlestick pattern, trend confirmation, RSI condition, and volume strength—work in synergy, and the signal is only highlighted when all selected conditions align, offering an optional but powerful confluence-based confirmation approach.
3. Settings
The indicator comes with flexible settings to help you tailor the signals to your trading style. You can choose which candlestick patterns to include, such as Bullish Engulfing, Bearish Engulfing, Piercing Line, Morning Star, and Evening Star. The trend is confirmed using the 200-period Exponential Moving Average (EMA), but you can also customize the EMA period if you prefer. To gauge momentum, the Relative Strength Index (RSI) is set to a 10-period default, which helps identify overbought and oversold conditions more sensitively. Additionally, a volume filter labels entries as high or low volume, allowing you to spot stronger moves. You have the option to require confirmation from all filters—pattern, trend, RSI, and volume—for more reliable signals, or to accept signals based on selected criteria. The display settings let you customize how signals appear on the chart, including colors and labels, and alert options notify you of bullish or bearish setups and volume spikes, ensuring you never miss an opportunity.
4. How To Trade Using This Indicator
How to Trade Using the Indicator
To effectively use this indicator, first watch for key candlestick patterns like Bullish Engulfing, Bearish Engulfing, and Piercing Line, which act as initial trade signals. Additionally, you can explore other candlestick patterns to broaden your signal generation and find more opportunities. Next, confirm the prevailing trend by checking the position of price relative to the 200-period EMA — trades aligned with this trend have higher chances of success. The RSI, set at 10 periods, serves as a filter to confirm momentum strength or signs of exhaustion, helping you avoid weak signals. Volume tags highlight whether the entry is supported by high or low trading activity, adding another layer of confidence. Ideally, you look for a combination of these factors — pattern, trend, RSI, and volume — to increase the reliability of your trade setups. Once all these conditions align, enter the trade and manage your exit based on your preferred risk management rules.
5. Additional Features
Additional Features
This indicator goes beyond just signal generation by helping you manage risk and position size effectively. You can set your risk per trade, and the indicator automatically calculates the optimal quantity based on your available capital and stop loss level, making position sizing simple and precise. The built-in formula ensures you never risk more than you’re comfortable with on any single trade. Additionally, a real-time PnL (Profit and Loss) table tracks every trade live, showing movement and performance with easy-to-understand color-coded rows—green for profits and red for losses. This feature is especially useful for manual traders who want to log and monitor their trades seamlessly, helping you stay disciplined and informed throughout your trading session.
6. Customization Options
The indicator is designed to fit your unique trading style with flexible customization settings. You can easily adjust parameters like the RSI period, choose which candlestick patterns to include for signal generation, and set your preferred EMA length for trend validation. Volume filters can be turned on or off, depending on how much weight you want to give to trading activity. Risk management settings such as your risk percentage per trade and stop loss distance are fully adjustable, allowing you to tailor the indicator’s alerts and calculations precisely to your comfort level. These customization options empower you to create a personalized trading tool that matches your goals and market approach, making it easier to spot high-quality trades that suit your strategy.
Disclaimer:
This content is for educational and informational purposes only and does not constitute financial advice, recommendation, or solicitation to buy or sell any financial instruments. Trading in the stock market involves risk, and past performance is not indicative of future results. Please consult with a qualified financial advisor before making any investment decisions. The creator and distributor of this content are not responsible for any losses incurred.
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Pivot Reversal Markers (3-bar strength)### Pivot Reversal Markers (3-Bar Strength)
**Overview:**
This indicator identifies and marks pivot high and pivot low reversal points on your chart using a customizable pivot strength. Ideal for traders seeking clear visual signals of potential reversals.
**Settings:**
* **Pivot Strength:** Number of bars checked before and after to confirm a pivot (default = 3).
**Signals:**
* 🔺 **Red Triangle (Pivot High):** Potential short entry or reversal from upward to downward trend.
* 🔻 **Green Triangle (Pivot Low):** Potential long entry or reversal from downward to upward trend.
**Usage:**
Combine these pivot signals with other technical analysis tools or indicators for optimal results.
[blackcat] L3 Magic-9/13 with Reversal Points ConfirmationOVERVIEW
The L3 Magic-9/13 with Reversal Points Confirmation indicator is designed to help traders identify potential reversal points in the market using a sequential approach. This indicator adopts the "buy when fearful, sell when greedy" philosophy, focusing on capturing key reversal moments 📉↗️. It plots labels on the chart to indicate these reversal points and uses custom functions to filter occurrences based on specific conditions.
FEATURES
Identifies consecutive price movements to detect potential reversals.
Plots labels for various sequential patterns:
High Sequentials: 5, 6, 7, 8, 9, 12, 13
Low Sequentials: 5, 6, 7, 8, 9, 12, 13
Uses custom functions to count consecutive occurrences and filter conditions.
Provides visual confirmation of reversal points with colored labels 🏷️.
Allows customization of sequence lengths and lookback periods ⚙️.
HOW TO USE
Add the indicator to your TradingView chart by selecting it from the indicators list.
Observe the plotted labels indicating potential reversal zones:
Green labels for buy signals ('B').
Red labels for sell signals ('S').
Customize the sequence lengths and lookback periods as needed in the settings panel.
Combine this indicator with other tools for confirmation before making trading decisions.
LIMITATIONS
The indicator relies heavily on sequential patterns, which might not capture all market nuances.
False signals can occur in ranging or sideways markets 🌪️.
Users should always confirm signals with other forms of analysis.
NOTES
Ensure that you have sufficient historical data available for accurate calculations.
Test the indicator thoroughly on demo accounts before applying it to live trading 🔍.
Understand the concept of buying at bottoms and selling at tops before using this indicator.
Combined + Reversal By DemirkanThis indicator is a comprehensive tool designed to identify potential trend reversals, trend direction, and entry/exit points by combining multiple technical analysis instruments. It includes the following components:
Two Reversal Lines (Based on Donchian Channel): Two lines with different periods indicate potential support/resistance levels and trend changes.
Hull Moving Average (HMA): A smoother, less lagging moving average helps determine trend direction and short-term momentum.
Fibonacci Level: A dynamic Fibonacci retracement level, calculated based on the highest high and lowest low over a specific period, serves as a potential support or area of interest.
Signal Generation: Produces Buy/Sell signals based on the crossovers and conditions of these components.
Visual Aids: Enhances interpretation by coloring the area between lines, coloring candlesticks, and adding labels.
Detailed Component Description:
Input Parameters (Settings):
Reversal Line 1 Length (Default: 100): The period (number of bars) used to calculate the first reversal line. Longer periods capture slower, more significant trends.
Reversal Line 2 Length (Default: 33): The period used to calculate the second reversal line. Shorter periods react to faster, shorter-term changes.
HMA Length (Default: 100): The period for calculating the Hull Moving Average.
Source (Default: close): The price source used for all calculations (close, open, high, low, etc.).
Reversal Line Bar Offset (Default: 3): Determines how many bars forward the Reversal Lines are shifted on the chart. This can make signals appear slightly earlier (or later, depending on the strategy). 0 means no shift.
Fibonacci Level (Default: 0.382): Specifies the Fibonacci retracement level (between 0.0 and 1.0). Common levels like 0.382, 0.5, 0.618 can be used.
Lookback Period (Default: 20): The period (number of bars) over which to look back for the highest high and lowest low to calculate the Fibonacci level.
Price Margin (Default: 0.005): Tolerance (as a percentage) determining how close the price needs to be to the Fibonacci level to be considered "at the level". E.g., 0.005 = 0.5%. If the price is within 0.5% of the calculated Fibonacci level, the condition is met.
Calculations:
donchian(len) Function: Calculates the average (math.avg) of the highest high (ta.highest) and lowest low (ta.lowest) over a specific period (len). This is effectively the midline of a classic Donchian Channel and is used here as the "Reversal Line".
Reversal Lines (conversionLine1, conversionLine2): Calculated using the donchian function based on the user-defined conversionPeriods1 and conversionPeriods2 lengths.
Hull Moving Average (hullMA): Calculated using the hma function. This function uniquely combines Weighted Moving Averages (WMA) to achieve less lag.
Fibonacci Level Calculation (fibLevel1, isAtFibLevel): Finds the highest high and lowest low within the lookbackPeriod, calculates the range (priceRange). fibLevel1 is determined by subtracting priceRange * fibLevel from the highest high (representing a retracement level). isAtFibLevel checks if the current closing price is within the priceMargin tolerance of the calculated fibLevel1.
Visual Elements (Plots/Drawing):
plot(conversionLine1 , ...): Plots the first reversal line in blue, shifted forward by barOffset.
plot(conversionLine2 , ...): Plots the second reversal line in black, shifted forward by barOffset.
plot(hullMA, ...): Plots the Hull Moving Average in orange.
plot(fibLevel1, ...): Plots the calculated Fibonacci level as a light blue, dashed line.
fill(...): Fills the area between the two (shifted) reversal lines. The area is colored blue if conversionLine1 > conversionLine2 (often interpreted as bullish) and red otherwise (bearish). The color transparency is set to 90 (almost opaque).
label.*: Adds labels at trend change points. A "Buy" label appears when the area turns blue (Line 1 crosses above Line 2), and a "Sell" label appears when it turns red (Line 1 crosses below Line 2). Labels appear once when the trend starts and are updated/deleted when the trend changes.
plotshape(...): Plots shapes (arrows/labels) on the chart when specific conditions are met:
Reversal Crossover Signals: A green up arrow (shape.labelup) appears when conversionLine2 crosses above conversionLine1 (Buy Signal - buySignal). A red down arrow (shape.labeldown) appears when conversionLine1 crosses below conversionLine2 (Sell Signal - sellSignal).
Hull MA Signals: A green up arrow (hullBuySignal) appears when the price closes above the HMA after being below it. A red down arrow (hullSellSignal) appears when the price closes below the HMA after being above it.
Fibonacci Buy Signal: A purple up arrow (fibBuySignal) appears when both the price is near the calculated Fibonacci level (isAtFibLevel) and a Hull MA Buy signal (hullBuySignal) occurs simultaneously. This signifies a "confluence" signal.
barcolor(...): Changes the color of the candlesticks. Bars turn blue on a Hull MA Buy signal (hullBuySignal) and red on a Hull MA Sell signal (hullSellSignal). Otherwise, the bar color remains the default chart color.
How to Use / Interpret:
Trend Direction:
Observe the color of the filled area between the reversal lines (Blue = Uptrend, Red = Downtrend).
Note whether the price is above or below the Hull MA.
Consider the slope of the Hull MA (upward or downward).
Entry/Exit Signals:
Aggressive: Use the crossovers of the reversal lines (buySignal, sellSignal). Green arrow suggests buy, red arrow suggests sell.
Trend Following: Use the HMA crossovers (hullBuySignal, hullSellSignal). Green arrow suggests buy, red arrow suggests sell. The bar colors also confirm these signals visually.
Confirmed Buy: Look for the Fibonacci Buy Signal (Purple arrow). When the price reaches a potential support level (Fibonacci) and simultaneously gets an HMA Buy signal, it can be considered a stronger buy indication.
Support/Resistance:
The reversal lines themselves can act as dynamic support/resistance levels.
The plotted Fibonacci level (fibLevel1) can be monitored as a potential retracement and support zone.
Strategy:
Confluence (multiple signals aligning) can increase confidence. For example, a buySignal or hullBuySignal occurring while the HMA is pointing up and the fill area is blue might be considered stronger.
Adjust the barOffset parameter to fine-tune the timing of the visual signals according to your trading style.
Use the Fibonacci Buy signal to potentially find entry points after pullbacks in an uptrend or near potential bottoms after a decline.
Important Notes:
No single indicator provides 100% accurate signals. It's crucial to use this indicator in conjunction with other analysis methods (price action, chart patterns, volume, etc.) and sound risk management strategies.
The indicator's performance might vary in different market conditions (trending, sideways) and across different timeframes. Backtesting before live trading is recommended.
The barOffset value shifts the plotting of the lines forward visually but does not change the time at which the underlying calculation occurs (it's still based on the data up to the current closing bar).
Triangle Reversal IndicatorTriangle Reversal Indicator – A Visual Tool for Identifying Reversal Patterns
This indicator is designed to highlight potential trend reversal moments by comparing the current candle with the previous one. It offers a unique approach by focusing on distinct candle patterns rather than generic trend indicators, making it a valuable addition to your trading toolkit.
How It Works:
For a bullish signal, the indicator checks if:
The current candle is bullish (closing higher than it opens) while the previous candle was bearish.
The current candle’s low breaches the previous bearish candle’s low.
The current candle’s close is above the previous bearish candle’s close.
When these conditions are met, a tiny green triangle is plotted below the candle to signal a potential bullish reversal.
Conversely, for a bearish signal, it verifies if:
The current candle is bearish (closing lower than it opens) following a bullish candle.
The current candle’s high exceeds the previous bullish candle’s high.
The current candle’s close falls below the previous bullish candle’s close.
If all conditions are satisfied, a small red triangle appears above the candle to indicate a potential bearish reversal.
How to Use:
Simply apply the indicator on your chart and look for the tiny triangles that appear above or below the candles. These markers can serve as an additional visual cue when confirming entry or exit points, but it’s best used alongside your other analysis techniques.
Customization Options:
Users can further enhance the script by adding inputs for lookback periods, adjusting the triangle size, or modifying colors to match their chart themes.
Johnny's Volatility-Driven Trend Identifier w/ Reversal SignalsJohnny's Volatility-Driven Trend Identifier w/ Reversal Signals is designed to identify high-probability trend shifts and reversals by incorporating volatility, momentum, and impulse-based filtering. It is specifically built for traders who want to capture strong trend movements while minimizing false signals caused by low volatility noise.
By leveraging Rate of Change (ROC), Relative Strength Index (RSI), and Average True Range (ATR)-based volatility detection, the indicator dynamically adapts to market conditions. It highlights breakout trends, reversals, and early signs of momentum shifts using strategically placed labels and color-coded trend visualization.
Inspiration taken from Top G indicator .
What This Indicator Does
The Volatility-Driven Trend Identifier works by:
Measuring Market Extremes & Momentum:
Uses ROC normalization with standard deviation to identify impulse moves in price action.
Implements RSI filtering to determine overbought/oversold conditions that validate trend strength.
Utilizes ATR-based volatility tracking to ensure signals only appear when meaningful market movements are occurring.
Identifying Key Trend Events:
Power Peak (🔥): Marks a confirmed strong downtrend, ideal for shorting opportunities.
Surge (🚀): Indicates a confirmed strong uptrend, signaling a potential long entry.
Soft Surge (↗): Highlights a mild bullish reentry or early uptrend formation.
Soft Peak (↘): Shows a mild bearish reentry or early downtrend formation.
Providing Adaptive Filtering for Reliable Signals:
Filters out weak trends with a volatility check, ensuring signals appear only in strong market conditions.
Implements multi-level confirmation by combining trend strength metrics, preventing false breakouts.
Uses gradient-based visualization to color-code market sentiment for quick interpretation.
What This Indicator Signals
Breakouts & Impulse Moves: 🚀🔥
The Surge (🚀) and Power Peak (🔥) labels indicate confirmed momentum breakouts, where the trend has been validated by a combination of ROC impulse, RSI confirmation, and ATR volatility filtering.
These signals suggest that the market is entering a strong trend, and traders can align their entries accordingly.
Early Trend Formation & Reentries: ↗ ↘
The Soft Surge (↗) and Soft Peak (↘) labels indicate areas where a trend might be forming, but is not yet fully confirmed.
These signals help traders anticipate potential entries before the trend gains full strength.
Volatility-Adaptive Trend Filtering: 📊
Since the indicator only activates in volatile conditions, it avoids the pitfalls of low-range choppy markets where false signals frequently occur.
ATR-driven adaptive windowing allows the indicator to dynamically adjust its sensitivity based on real-time volatility conditions.
How to Use This Indicator
1. Identifying High-Probability Entries
Bullish Entries (Long Trades)
Look for 🚀 Surge signals in an uptrend.
Confirm with RSI (should be above 50 for momentum).
Ensure volatility is increasing to validate the breakout.
Use ↗ Soft Surge signals for early entries before the trend fully confirms.
Bearish Entries (Short Trades)
Look for 🔥 Power Peak signals in a downtrend.
RSI should be below 50, indicating downward momentum.
Volatility should be rising, ensuring market momentum is strong.
Use ↘ Soft Peak signals for early entries before a full bearish confirmation.
2. Avoiding False Signals
Ignore signals when the market is ranging (low ATR).
Check RSI and ROC alignment to ensure trend confirmation.
Use additional confluences (e.g., price action, support/resistance levels, moving averages) for enhanced accuracy.
3. Trend Confirmation & Filtering
The stronger the trend, the higher the likelihood that Surge (🚀) and Power Peak (🔥) signals will continue in their direction.
Soft Surge (↗) and Soft Peak (↘) act as early warning signals before major breakouts occur.
What Makes This a Machine Learning-Inspired Moving Average?
While this indicator is not a direct implementation of machine learning (as Pine Script lacks AI/ML capabilities), it mimics machine learning principles by adapting dynamically to market conditions using the following techniques:
Adaptive Trend Selection:
It does not rely on fixed moving averages but instead adapts dynamically based on volatility expansion and momentum detection.
ATR-based filtering adjusts the indicator’s sensitivity to real-time conditions.
Multi-Factor Confirmation (Feature Engineering Equivalent in ML):
Combines ROC, RSI, and ATR in a structured way, similar to how ML models use multiple inputs to filter and classify data.
Implements conditional trend recognition, ensuring that only valid signals pass through the filter.
Noise Reduction with Data Smoothing:
The algorithm avoids false signals by incorporating trend intensity thresholds, much like how ML models remove outliers to refine predictions.
Adaptive filtering ensures that low-volatility environments do not produce misleading signals.
Why Use This Indicator?
✔ Reduces False Signals: Multi-factor validation ensures only high-confidence signals are triggered.
✔ Works in All Market Conditions: Volatility-adaptive nature allows the indicator to perform well in both trending and ranging markets.
✔ Great for Swing & Intraday Trading: It helps spot momentum shifts early and allows traders to catch major market moves before they fully develop.
✔ Visually Intuitive: Color-coded trends and clear signal markers make it easy to interpret.
Donchian Reversal Scanner by Hitesh2603How It Works:
Bearish Side Logic:
If the price is falling with bearish candles and touching the lower Donchian Channel, the bearishCondition flag is set to true.
When a bullish candle appears afterward, the flag is reset, and the bullishReversalSquare condition becomes true.
Bullish Side Logic:
If the price is rising with bullish candles and touching the upper Donchian Channel, the bullishCondition flag is set to true.
When a bearish candle appears afterward, the flag is reset, and the bearishReversalSquare condition becomes true.
Plotting Squares:
A green square is plotted below the candle when bullishReversalSquare is true.
A red square is plotted above the candle when bearishReversalSquare is true.
Scanner Output:
The scanCondition variable is true when either bullishReversalSquare or bearishReversalSquare is true.
How to Use the Script:
On the Chart:
Add the script to your chart.
You will see squares plotted on the chart when the conditions are met:
Green squares below the candle for bullish reversals.
Red squares above the candle for bearish reversals.
In the Scanner:
Open the Scanner tab in TradingView.
Click on "Create New Scanner".
In the "Condition" field, select the script you just created.
Choose the market or watchlist you want to scan (e.g., "NYSE", "NASDAQ", or a custom watchlist).
Run the scan. The Scanner will return a list of instruments where the scanCondition is true.
Why This Works:
The scanCondition variable is now properly declared and used.
The plotchar function explicitly outputs the scanCondition variable as a plot, which the Scanner can recognize.
