Rob Booker - ADX Breakout updated to pinescript V5Rob Booker - ADX Breakout. The strategy remains unchanged but the code has been updated to pinescript V5. This enables compatibility with all new Tradingview features. Additonally, indicators have been made more easily visible, default cash settings as well as input descriptions have been added.
Rob Booker - ADX Breakout: (Directly taken from the official Tradingview V1 version of the script)
Definition
Rob Booker’s Average Directional Index (ADX) Breakout is a trend strength indicator that affirms the belief that trading in the direction of a trend and continuing to follow its pull is more profitable for traders, while simultaneously reducing risk.
History
ADX was traditionally used and developed to determine a price’s trend strength. It is commonly known as a tool from the arsenal of Rob Booker, experienced entrepreneur and currency trader.
Calculations
Calculations for the ADX Breakout indicator are based on a moving average of price range expansion over a specific period of time. By default, the setting rests at 14 bars, this however is not mandatory, as other periods are routinely used for analysis as well.
Takeaways
The ADX line is used to measure and determine the strength of a trend, and so the direction of this line and its interpretation are crucial in a trader’s analysis. As the ADX line rises, a trend increases in strength and price moves in the trend’s direction. Similarly, if the ADX line is falling, a trend decreases in strength and price then enters a period of consolidation, or retracement.
Traditionally, the ADX is plotted on the chart as a single line that consists of values that range from 0-100. The line is non-directional, meaning that it always measures trend strength regardless of the position of a price’s trend (up or down). Essentially, ADX quantifies trend strength by presenting in both uptrends and downtrends of the line.
What to look for
The values associated with the ADX line help traders determine the most profitable trades and where risk lies in the current trend. It is important to know how to quantify trend strength and distinguish between the varying values in order to understand the differences in trending vs. non-trending conditions. Let’s take a look at ADX values and what they mean for trend strength.
ADX Value:
0-25: Signifies an absent of weak trend
25-50: Signifies a strong trend
50-75: Signifies a very strong trend
75-100: Signifies an extremely strong trend
To delve into this a bit further, let’s assess the meaning of ADX if it is valued below 25. If the ADX line remains below 25 for more than 30 or so bars, price then enters range conditions, making price patterns more distinguishable and visible to traders. Price will move up and down between resistance and support in order to determine selling and buying interest and may then eventually break out into a trend or pattern.
The way in which ADX peaks, ebs, and flows is also a signifier of its overall pattern and trend momentum. The line can clearly indicate to the trader when trend strength is strong versus when it is weak. When ADX peaks are pictured as higher, it points towards an increase in trend momentum. If ADX peaks are pictured as lower - you guessed it - it points towards a decrease in trend momentum. A trend of lower ADX peaks could be a warning for traders to watch prices and manage and assess risk before a trade gets out of hand. Similarly, whenever there is a sudden move that seems out of place or a change in trend character that goes against what you’ve seen before, this should be a clear sign to watch prices and assess risk.
Summary
The ADX Breakout indicator is a trend strength indicator that analyzes price movements relative to trend strength to signal a user when is best for a trade and when is best to manage risk and assess patterns. As long as a trader recognizes strong trends and assesses the risk of each trade properly, they should have no problem using this indicator and utilizing it to work in their favor. In addition, the ADX helps identify trending conditions, but while doing so, also aids traders in finding strong trends to trade. The indicator can even alert traders to specific changes in trend momentum, allowing them to be primed for risk management.
Pesquisar nos scripts por "美联储9月降息25个基点"
Price Displacement - Candlestick (OHLC) CalculationsA Magical little helper friend for Candle Math.
When composing scripts, it is often necessary to manipulate the math around the OHLC. At times, you want a scalar (absolute) value others you want a vector (+/-). Sometimes you want the open - close and sometimes you want just the positive number of the body size. You might want it in ticks or you might want it in points or you might want in percentages. And every time you try to put it together you waste precious time and brain power trying to think about how to properly structure what you're looking for. Not to mention it's normally not that aesthetically pleasing to look at in the code.
So, this fixes all of that.
Using this library. A function like 'pd.pt(_exp)' can call any kind of candlestick math you need. The function returns the candlestick math you define using particular expressions.
Candle Math Functions Include:
Points:
pt(_exp) Absolute Point Displacement. Point quantity of given size parameters according to _exp.
vpt(_exp) Vector Point Displacement. Point quantity of given size parameters according to _exp.
Ticks:
tick(_exp) Absolute Tick Displacement. Tick quantity of given size parameters according to _exp.
vtick(_exp) Vector Tick Displacement. Tick quantity of given size parameters according to _exp.
Percentages:
pct(_exp, _prec) Absolute Percent Displacement. (w/rounding overload). Percent quantity of bar range of given size parameters according to _exp.
vpct(_exp, _prec) Vector Percent Displacement (w/rounding overload). Percent quantity of bar range of given size parameters according to _exp.
Expressions You Can Use with Formulas:
The expressions are simple (simple strings that is) and I did my best to make them sensible, generally using just the ohlc abreviations. I also included uw, lw, bd, and rg for when you're just trying to pull a candle component out. That way you don't have to think about which of the ohlc you're trying to get just use pd.tick("uw") and now the variable is assigned the length of the upper wick, absolute value, in ticks. If you wanted the vector in pts its pd.vpt("uw"). It also makes changing things easy too as I write it out.
Expression List:
Combinations
"oh" = open - high
"ol" = open - low
"oc" = open - close
"ho" = high - open
"hl" = high - low
"hc" = high - close
"lo" = low - open
"lh" = low - high
"lc" = low - close
"co" = close - open
"ch" = close - high
"cl" = close - low
Candle Components
"uw" = Upper Wick
"bd" = Body
"lw" = Lower Wick
"rg" = Range
Pct() Only
"scp" = Scalar Close Position
"sop" = Scalar Open Position
"vcp" = Vector Close Position
"vop" = Vector Open Position
The attributes are going to be available in the pop up dialogue when you mouse over the function, so you don't really have to remember them. I tried to make that look as efficient as possible. You'll notice it follows the OHLC pattern. Thus, "oh" precedes "ho" (heyo) because "O" would be first in the OHLC. Its a way to help find the expression you're looking for quickly. Like looking through an alphabetized list for traders.
There is a copy/paste console friendly helper list in the script itself.
Additional Notes on the Pct() Only functions:
This is the original reason I started writing this. These concepts place a rating/value on the bar based on candle attributes in one number. These formulas put a open or close value in a percentile of the bar relative to another aspect of the bar.
Scalar - Non-directional. Absolute Value.
Scalar Position: The position of the price attribute relative to the scale of the bar range (high - low)
Example: high = 100. low = 0. close = 25.
(A) Measure price distance C-L. How high above the low did the candle close (e.g. close - low = 25)
(B) Divide by bar range (high - low). 25 / (100 - 0) = .25
Explaination: The candle closed at the 25th percentile of the bar range given the bar range low = 0 and bar range high = 100.
Formula: scp = (close - low) / (high - low)
Vector = Directional.
Vector Position: The position of the price attribute relative to the scale of the bar midpoint (Vector Position at hl2 = 0)
Example: high = 100. low = 0. close = 25.
(A) Measure Price distance C-L: How high above the low did the candle close (e.g. close - low = 25)
(B) Measure Price distance H-C: How far below the high did the candle close (e.g. high - close = 75)
(C) Take Difference: A - B = C = -50
(D) Divide by bar range (high - low). -50 / (100 - 0) = -0.50
Explaination: Candle close at the midpoint between hl2 and the low.
Formula: vcp = { / (high - low) }
Thank you for checking this out. I hope no one else has already done this (because it took half the day) and I hope you find value in it. Be well. Trade well.
Library "PD"
Price Displacement
pt(_exp) Absolute Point Displacement. Point quantity of given size parameters according to _exp.
Parameters:
_exp : (string) Price Parameter
Returns: Point size of given expression as an absolute value.
vpt(_exp) Vector Point Displacement. Point quantity of given size parameters according to _exp.
Parameters:
_exp : (string) Price Parameter
Returns: Point size of given expression as a vector.
tick(_exp) Absolute Tick Displacement. Tick quantity of given size parameters according to _exp.
Parameters:
_exp : (string) Price Parameter
Returns: Tick size of given expression as an absolute value.
vtick(_exp) Vector Tick Displacement. Tick quantity of given size parameters according to _exp.
Parameters:
_exp : (string) Price Parameter
Returns: Tick size of given expression as a vector.
pct(_exp, _prec) Absolute Percent Displacement (w/rounding overload). Percent quantity of bar range of given size parameters according to _exp.
Parameters:
_exp : (string) Expression
_prec : (int) Overload - Place value precision definition
Returns: Percent size of given expression as decimal.
vpct(_exp, _prec) Vector Percent Displacement (w/rounding overload). Percent quantity of bar range of given size parameters according to _exp.
Parameters:
_exp : (string) Expression
_prec : (int) Overload - Place value precision definition
Returns: Percent size of given expression as decimal.
Multi-Timeframe (MTF) Dashboard by RiTzMulti-Timeframe Dashboard
Shows values of different Indiactors on Multiple-Timeframes for the selected script/symbol
VWAP : if LTP is trading above VWAP then Bullish else if LTP is trading below VWAP then Bearish.
ST(21,1) : if LTP is trading above Supertrend (21,1) then Bullish , else if LTP is trading below Supertrend (21,1) then Bearish.
ST(14,2) : if LTP is trading above Supertrend (14,2) then Bullish , else if LTP is trading below Supertrend (14,2) then Bearish.
ST(10,3) : if LTP is trading above Supertrend (10,3) then Bullish , else if LTP is trading below Supertrend (10,3) then Bearish.
RSI(14) : Shows value of RSI (14) for the current timeframe.
ADX : if ADX is > 75 and DI+ > DI- then "Bullish ++".
if ADX is < 75 but >50 and DI+ > DI- then "Bullish +".
if ADX is < 50 but > 25 and DI+ > DI- then "Bullish".
if ADX is above 75 and DI- > DI+ then "Bearish ++".
if ADX is < 75 but > 50 and DI- > DI+ then "Bearish+".
if ADX is < 50 but > 25 and DI- > DI+ then "Bearish".
if ADX is < 25 then "Neutral".
MACD : if MACD line is above Signal Line then "Bullish", else if MACD line is below Signal Line then "Bearish".
PH-PL : "< PH > PL" means LTP is trading between Previous Timeframes High(PH) & Previous Timeframes Low(PL) which indicates Rangebound-ness.
"> PH" means LTP is trading above Previous Timeframes High(PH) which indicates Bullish-ness.
"< PL" means LTP is trading below Previous Timeframes Low(PL) which indicates Bearish-ness.
Alligator : If Lips > Teeth > Jaw then Bullish.
If Lips < Teeth < Jaw then Bearish.
If Lips > Teeth and Teeth < Jaw then Neutral/Sleeping.
If Lips < Teeth and Teeth > Jaw then Neutral/Sleeping.
Settings :
Style settings :-
Dashboard Location: Location of the dashboard on the chart
Dashboard Size: Size of the dashboard on the chart
Bullish Cell Color: Select the color of cell whose value is showing Bullish-ness.
Bearish Cell Color: Select the color of cell whose value is showing Bearish-ness.
Neutral Cell Color: Select the color of cell whose value is showing Rangebound-ness.
Cell Transparency: Select Transparency of cell.
Column Settings :-
You can select which Indicators values should be displayed/hidden.
Timeframe Settings :-
You can select which timeframes values should be displayed/hidden.
Note :- I'm not a pro Developer/Coder , so if there are any mistakes or any suggestions for improvements in the code then do let me know!
Note :- Use in Live market , might show wrong values for timeframes other than current timeframe in closed market!!
Nifty / Banknifty Dashboard by RiTzNifty / Banknifty Dashboard :
Shows Values of different Indicators on current Timeframe for the selected Index & it's main constituents according to weightage in index.
customized for Nifty & Banknifty (You can customize it according to your needs for the markets/indexes you trade in)
Interpretation :-
VWAP : if LTP is trading above VWAP then Bullish else if LTP is trading below VWAP then Bearish.
ST(21,1) : if LTP is trading above Supertrend (21,1) then Bullish , else if LTP is trading below Supertrend (21,1) then Bearish.
ST(14,2) : if LTP is trading above Supertrend (14,2) then Bullish , else if LTP is trading below Supertrend (14,2) then Bearish.
ST(10,3) : if LTP is trading above Supertrend (10,3) then Bullish , else if LTP is trading below Supertrend (10,3) then Bearish.
RSI(14) : Shows value of RSI (14) for the current timeframe.
ADX : if ADX is > 75 and DI+ > DI- then "Bullish ++".
if ADX is < 75 but >50 and DI+ > DI- then "Bullish +".
if ADX is < 50 but > 25 and DI+ > DI- then "Bullish".
if ADX is above 75 and DI- > DI+ then "Bearish ++".
if ADX is < 75 but > 50 and DI- > DI+ then "Bearish+".
if ADX is < 50 but > 25 and DI- > DI+ then "Bearish".
if ADX is < 25 then "Neutral".
MACD : if MACD line is above Signal Line then "Bullish", else if MACD line is below Signal Line then "Bearish".
PDH-PDL : "< PDH > PDL" means LTP is trading between Previous Days High(PDH) & Previous Days Low(PDL) which indicates Rangebound-ness.
"> PDH" means LTP is trading above Previous Days High(PDH) which indicates Bullish-ness.
"< PDL" means LTP is trading below Previous Days Low(PDL) which indicates Bearish-ness.
Alligator : If Lips > Teeth > Jaw then Bullish.
If Lips < Teeth < Jaw then Bearish.
If Lips > Teeth and Teeth < Jaw then Neutral/Sleeping.
If Lips < Teeth and Teeth > Jaw then Neutral/Sleeping.
Settings :
Style settings :-
Dashboard Location: Location of the dashboard on the chart
Dashboard Size: Size of the dashboard on the chart
Bullish Cell Color: Select the color of cell whose value is showing Bullish-ness.
Bearish Cell Color: Select the color of cell whose value is showing Bearish-ness.
Neutral Cell Color: Select the color of cell whose value is showing Rangebound-ness.
Cell Transparency: Select Transparency of cell.
Columns Settings :-
You can select which Indicators values should be displayed/hidden.
Rows Settings :-
You can select which Stocks/Symbols values should be displayed/hidden.
Symbol Settings :-
Here you can select the Index & Stocks/Symbols
Dashboard for Index : select Nifty/Banknifty
if you select Nifty then Nifty spot, Nifty current Futures and the stocks with most weightage in Nifty index will be displayed on the Dashboard/Table.
if you select Banknifty then Banknifty spot, Banknifty current Futures and the stocks with most weightage in Banknifty index will be displayed on the Dashboard/Table.
You can Customise it according to your needs, you can choose any Symbols you want to use.
Note :- This is inspired from "RankDelta" by AsitPati and "Nifty and Bank Nifty Dashboard v2" by cvsk123 (Both these scripts are closed source!)
I'm not a pro Developer/Coder , so if there are any mistakes or any suggestions for improvements in the code then do let me know!
EMA+MACDA simple script using EMA 25 and EMA 50 with MACD. Enter long when EMA 25 crossover ema 50 and MACD line > 0, enter short when EMA 50 crossover ema 25 and MACD < 0
Tendies Heist Auto Compounding ExampleThis is an example of how we can use compounding to control our position size. This example shows how we can automatically add and reduce position size based on account equity. The "initial capital" in properties is the starting account equity. At default its set to 100,000. If our max position size is set to 25 then the very first position that's taken has a position size of 10, IF our leverage is set to 10,000. Account equity divided by leverage equals position size. So in that example 100,000 divided by 10,000 in leverage gives us a max position size of 10. However the max position size was set to 25 meaning we would need 250k in equity for it to open a position size of 25 with the leverage set at 10k. Now if the initial capital was set to 100,000 and the max position size was set to 5 and leverage remained at 10,000, all though 100,000 divided by 10,000 equals 10 it will ONLY open a position size of 5, because the max position size in this example was set at 5. Since this works for strategies you may look through the trade log on the posted back test and check out the position size, you can see in this back test the default 100k is used for the initial capital and the default 10k was used for the leverage. You will be able to see as this logic loses money it takes contracts away and as it gains money it adds contracts. I'm using trading view's basic strategy logic example to provide an example of how the compounding logic works.
Note, don't forget to add the syntax below to your strategy.entry call for this logic to work.
qty = size
Tendies Heist LLC 2021
Ichimoku Kinkō HyōThe Ichimoku Kinko Hyo is an trading system developed by the late Goichi Hosoda (pen name "Ichimokusanjin") when he was the general manager of the business conditions department of Miyako Shinbun, the predecessor of the Tokyo Shimbun. Currently, it is a registered trademark of Economic Fluctuation Research Institute Co., Ltd., which is run by the bereaved family of Hosoda as a private research institute.
The Ichimoku Kinko Hyo is composed of time theory, price range theory (target price theory) and wave movement theory. Ichimoku means "At One Glace". The equilibrium table is famous for its span, but the first in the equilibrium table is the time relationship.
In the theory of time, the change date is the day after the number of periods classified into the basic numerical value such as 9, 17, 26, etc., the equal numerical value that takes the number of periods of the past wave motion, and the habit numerical value that appears for each issue is there. The market is based on the idea that the buying and selling equilibrium will move in the wrong direction. Another feature is that time is emphasized in order to estimate when changes will occur.
In the price range theory, there are E・V・N・NT calculated values and multiple values of 4 to 8E as target values. In addition, in order to determine the momentum and direction of the market, we will consider other price ranges and ying and yang numbers.
If the calculated value is realized on the change date calculated by each numerical value, the market price is likely to reverse.
転換線 (Tenkansen) (Conversion Line) = (highest price in the past 9 periods + lowest price) ÷ 2
基準線 (Kijunsen) (Base Line) = (highest price in the past 26 periods + lowest price) ÷ 2
It represents Support/Resistance for 16 bars. It is a 50% Fibonacci Retracement. The Kijun sen is knows as the "container" of the trend. It is prefect to use as an initial stop and/or trailing stop.
先行スパン1 (Senkou span 1) (Lagging Span 1) = {(conversion value + reference value) ÷ 2} 25 periods ahead (26 periods ahead including the current day, that is)
先行スパン2 (Senkou span 2) (Lagging Span 2) = {(highest price in the past 52 periods + lowest price) ÷ 2} 25 periods ahead (26 periods ahead including the current day, that is)
遅行スパン (Chikou span) (Lagging Span) = (current candle closing price) plotted 26 periods before (that is, including the current day) 25 periods ago
It is the only Ichimoku indicator that uses the closing price. It is used for momentum of the trend.
The area surrounded by the two lagging span lines is called a cloud. This is the foundation of the system. It determines the sentiment (Bull/Bear) for the insrument. If price is above the cloud, the instrument is bullish. If price is below the cloud, the instrument is bearish.
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The wave theory of the Ichimoku Kinko Hyo has the following waves.
All about the rising market. If it is the falling market, the opposite is true.
I wave rise one market price.
V wave the market price that raises and lowers.
N wave the market price for raising, lowering, and raising.
P wave the high price depreciates and the low price rises with the passage of time. Leave either.
Y wave the high price rises and the low price falls with the passage of time. Leave either.
S wave A market in which the lowered market rebounds and rises at the previous high level.
There are the above 6 types but the basis of the Ichimoku Kinko Hyo is the N wave of 3 waves.
In Elliott wave theory and similar theories, basically there are 5 waves but 5 waves are a series of 2 and 3 waves N, 3 for 7 waves, 4 for 9 waves and so on.
Even if it keep continuing, it will be based on N wave. In addition, since the P wave and the Y wave are separated from each other, they can be seen as N waves from a large perspective.
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There are basic E・V・N・NT calculated values and several other calculation methods for the Ichimoku Kinko Hyo. It is the only calculated value that gives a concrete value in the Ichimoku Kinko Hyo, which is difficult to understand, but since we focus only on the price difference and do not consider the supply and demand, it is forbidden to stick to the calculated value alone.
(The calculation method of the following five calculated values is based on the rising market price, which is raised from the low price A to the high price B and lowered from the high price B to the low price C. Therefore, the low price C is higher than the low price A)
E calculated value The amount of increase from the low price A to the high price B is added to the high price B. = B + (BA)
V calculated value Adds the amount of decline from the high price B to the low price C to the high price B. = B + (BC)
N calculated value The amount of increase from the low price A to the high price B is added to the low price C. = C + (BA)
NT calculated value Adds the amount of increase from the low price A to the low price C to the low price C. = C + (CA)
4E calculated value (four-layer double / quadruple value) Adds three times the amount of increase from the low price A to the high price B to the high price B. = B + 3 × (BA)
Calculated value of P wave The upper price is devalued and the lower price is rounded up, and the price range of both is the same.
Calculated value of Y wave The upper price is rounded up and the lower price is rounded down, and the price range of both is the same.
SALEH MACD Donchian + EMA & MACD + ADXI gathered all the signals coming from the MACD & Donchian channels indicators and filtered them with EMA 200 or ADX > 25 indicators (which both of them show the trend),
and put them on the chart to show me the buy and sell signals;
the signals rules are as following:
BUY:
when we have an uptrend ( the price is above the EMA 200 or ADX > 25 ) & the macd line cross up the signal line while they are both under the 0 level of histogram it generates buy signals.
SELL:
when we have a downtrend ( the price is below the EMA 200 or ADX > 25) & the macd line cross below the signal line while they are both above the 0 level of histogram it generates sell signals.
Donchian channel works as a confirmation for the macd signal.
this signals work best at London session, you can also filter them by chandelier exit indicator.
RSI of VWAP [SHORT selling]This is SHORT selling version of RSIofVWAP strategy. Settings and Logic are totally different from LONG side version , hence I am publishing it as a new strategy.
Settings
============
VWAP of RSI Length 15
Slow EMA Length 200
Short entry level 25
Cover short level 70
stop loss 5
SHORT Entry
============
condition1 : When RSIofVWAP crossdown below 25 and VWAP is below ema200
condition2: When weekly RSIofVWAP crossdown 70 and VWAP (note : session vwap , not weekly vwap) is below ema200
condition3: Use VIX value , if you want to short when the price is above ema200
vwap RSI crossing down 70 and VIX RSI is cossing up 70
enter short ... This is like falling knife :-)
I need to add the code -- later
if any of above condition is TRUE , SHORT entry will be taken
Take Profit
============
When close less than short entry price and RSIofVWAp is crossing up 25 , take profit ...close 1/3 of the position
Exit
============
When RSIofVWAP crossing up 70 level
Stop Loss
============
Stop Loss is set to 5%
Note:
1. When strategy is in SHORT position , background and bar color changes to gray
2. When strategy is already in short position , possible entries are shown in yellow background
3. RSI Length 15 is working most of the equities on hourly chart. ( RSI length 9 and 14 also works good , but not for all ... You may want to try which setting works for your symbol)
4. weekly VWAP (blue color) is also plotted by default ... you can disable it if you dont want to see it. But there is advantage keeping it on the chart , you can notice whenever weekly VWAP crosses above 70 line , trend is UP ... if you have LONG position you can hold on it ... Hurray :-)
Warning
============
For the educational purposes only
Triple EMA Scalper low lag stratHi all,
This strategy is based on the Amazing scalper for majors with risk management by SoftKill21
The change is in lines 11-20 where the sma's are replaced with Triple ema's to
lower the lag.
The original author is SoftKill21. His explanation is repeated below:
Best suited for 1M time frame and majors currency pairs.
Note that I tried it at 3M time frame.
Its made of :
Ema ( exponential moving average ) , long period 25
Ema ( exponential moving average ) Predictive, long period 50,
Ema ( exponential moving average ) Predictive, long period 100
Risk management , risking % of equity per trade using stop loss and take profits levels.
Long Entry:
When the Ema 25 cross up through the 50 Ema and 100 EMA . and we are in london or new york session( very important the session, imagine if we have only american or european currencies, its best to test it)
Short Entry:
When the Ema 25 cross down through the 50 Ema and 100 EMA , and we are in london or new york session( very important the session, imagine if we have only american or european currencies, its best to test it)
Exit:
TargetPrice: 5-10 pips
Stop loss: 9-12 pips
Amazing scalper for majors with risk managementHello,
Today I am glad to bring you an amazing simple and efficient scalper strategy.
Best suited for 1M time frame and majors currency pairs.
Its made of :
Ema (exponential moving average) , long period 25
Ema(exponential moving average) Predictive, long period 50,
Ema(exponential moving average) Predictive, long period 100
Risk management , risking % of equity per trade using stop loss and take profits levels.
Long Entry:
When the Ema 25 cross up through the 50 Ema and 100 EMA. and we are in london or new york session( very important the session, imagine if we have only american or european currencies, its best to test it)
Short Entry:
When the Ema 25 cross down through the 50 Ema and 100 EMA, and we are in london or new york session( very important the session, imagine if we have only american or european currencies, its best to test it)
Exit:
TargetPrice: 5-10 pips
Stop loss: 9-12 pips
Hope you enjoy it :)
ADX + DI x Upgraded to Pine v4 x KingThiesAverage Directional Movement Index
Momentum based tool to measure trend strength on scale of 1-100
Similar to the aroon but incorporates a 3rd measure, while aroon uses two
The majority of these calculations were pre-existing in older pine scripts but have since been updated
signals are given when -DI and +DI cross, ADX illustrates corresponding strength at time of cross
Full Intro
ADX can help investors to identify trend strengths, as di - di determines the trend direction, while d - d is an impulse indicator. If the ADX is below 20, it can be considered impulsive, while it is above 25 on a trend line.
A trading signal can be generated when the di - DI line is switched to d - d and vice versa. If the di-line crosses and the ADX is above 20 (ideally 25), a potential buy signal could ebb away.
If the ADX is above 20, there is the possibility of potential short selling if the DI crosses over DI. You can also use crosses to get out of the current deal if you need it for a long time.
If the di-line is crossed and the Adx is below 20 (or 25), there may be opportunities to enter the potential for short trading, but only if di are above or below DI or if the price is trendy and may not prove to be the ideal time to start trading.
Trend Monster HeadquartersADX-DMI enhanced & modified for faster reaction
ADX (black line) above 80 = mega-trend peaked, reversal imminent, rare case scenario
ADX (black line) above 60 = trend topping out, reversal possible, depending on other indicators
ADX (black line) above 25 threshold = trend strenghening
DMI- (red line) - above 25 - bear trend strenghening
DMI+ (green line) - above 25 - bull trend strenghening
DMI- (red line) - coming off the bottom - bull trend weakening
DMI+ (green line) - coming off the bottom - bear trend weakening
BB and RSI Indicator Alert v0.3 by JustUncleLI have just recently revised this indicator alert for public release. This is for the 60sec Bollinger Band break Binary Option traders.
This indicator alert is a variation of one found in a well known Broker's marketing videos. It uses Bollinger bands, RSI and moving averages. Included is a pre-warning alert condition. The strategy and settings are designed for 1min charts and Binary Options, but it could work for up to 15 min charts.
The default settings are BB(14,2) and RSI(11) with 75/25 Levels boundaries. To be a valid trade the RSI needs to be within 75/25 channel. The optional Market direction filter is enabled by default and is calculated by two EMA (200 and 50):
When 200ema rising and 50ema above 200ema then market going up.
When 200ema falling and 50ema below 200ema then market going down.
A potential Bollinger Break reversal trades identified by shapes: The purple diamond is the pre-warning purple alert and the green and red pointers with the PUT/CALL labels are the trade alerts. Make Binary Option trade in specified direction 60sec (or can also use 120sec trade without Martingale).
* Notes and Hints *
The original videos specified a Martingale money management strategy, be careful using this management. When I use Martingale I recommend go to 3 levels: 10, 25, 65 if no win at 65 stop trading this alert and start next alert back at 10, you should recovery loss by future wins given you are able to get a reasonable ITM rate with this strategy. Alternatively instead of using Martingale use 120sec Binary Option trade.
Be wary of break alerts on a steep Bollinger, they tend to keep running away for awhile, especially if steep on both sides of Bollinger channel.
As with most of this style of indicator the alert conditions will redraw until the candle is closed. For me this is okay, as it is an Alert is only to a potential trade and final decision to trade is made by me.
You need to practise this and be aware of market news, sessions boundaries, slow trading periods etc. Plan your periods of when you should trade, I prefer Asian session before lunch and London sessions.
Insync Index [LazyBear]BB Support + Histo mode
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Code: pastebin.com
Show enclosing BB
Show Insync as Histo:
v02 - Configurable levels
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Small update to allow configuring the 95/75/25/5 levels.
Latest source code: pastebin.com
v01 - orginal description
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Insync Index, by Norm North, is a consensus indicator. It uses RSI, MACD, MFI, DPO, ROC, Stoch, CCI and %B to calculate a composite signal. Basically, this index shows that when a majority of underlying indicators is in sync, a turning point is near.
There are couple of ways to use this indicator.
- Buy when crossing up 5, sell when crossing down 95.
- Market is typically bullish when index is above 50, bearish when below 50. This can be a great confirmation signal for price action + trend lines.
Also, since this is typical oscillator, look for divergences between price and index.
Levels 75/25 are early warning levels. Note that, index > 75 (and less than 95) should be considered very bullish and index below 25 (but above 5) as very bearish. Levels 95/5 are equivalent to traditional OB/OS levels.
The various values of the underlying components can be tuned via options page. I have also provided an option to color bars based on the index value.
More info: The Insync Index by Norm North, TASC Jan 1995
drive.google.com
List of my free indicators: bit.ly
List of my app-store indicators: blog.tradingview.com
(Support doc: bit.ly)
ダウ理論 Dow Theory – Slim HH/LL Labels + BOS/CHOCH + Trend (TAKA)ダウ理論の相場構造を“見える化”するインジケーター。
HH/LL（必要ならHL/LH）を自動ラベル化＋ジグザグ描画、BOS/CHOCHを検出。
右上に Uptrend / Downtrend / Range を常時表示。全時間足・全銘柄対応。
■主な機能
・HH/LL（間引き可）＋ジグザグ
・BOS（Break of Structure）/ CHOCH（転換）通知
・小波の自動フィルタ：変化率(%) と ATR×
・ADXフィルタでレンジ時の誤判定を抑制
・ライト/ダーク両モード視認性調整
■使い方（主要パラメータ）
・Pivot left/right：スイング感度（数値↑＝ゆっくり＆精度高め）
・Only HH/LL：要所だけ表示
・Min % / ATR×：小さすぎる波を間引き
・ADX 閾値：20〜25推奨（レンジ多い銘柄は上げる）
・表示ラベル上限：古いラベルを自動整理
■注意
・ピボットは right 本分が経過してから確定（確定足ベース）
・アラートは「Any alert()」で有効化
押し目買い/戻り売りの型づくり、構造学習、シナリオ共有に。
Granville × Dow Theory 併用推奨。
上位足でEMAトレンド（20/30/40）を確認、
下位足では本インジのHL/LH→HH/LLの継続サインを待って、EMA帯の押し/戻りで入る。
＝グランビル#2（押し目買い）/#6（戻り売り）を“構造＋平均線”の合流で狙う運用。
Dow Theory structure visualizer (indicator, not a strategy).
Auto labels HH/LL (optional HL/LH), draws a zigzag, detects BOS/CHOCH,
and shows Uptrend/Downtrend/Range at the top-right. Works on all timeframes & symbols.
■ Features
- HH/LL labels (filterable) + zigzag
- BOS (Break of Structure) / CHOCH alerts
- Noise filtering by % change and ATR multiplier
- ADX filter to suppress signals during ranges
- Optimized for light/dark modes
■ How to use (key inputs)
- Pivot left/right: swing sensitivity (higher = slower/cleaner)
- Only HH/LL: show key swings only
- Min % / ATR×: ignore tiny swings
- ADX threshold: 20–25 recommended
- Max labels: auto prune old labels
■ Notes
- Pivots confirm after ‘right’ bars (confirmed on closed bars)
- Enable alerts via “Any alert()”
Ideal for buy-the-dip / sell-the-rally planning and structure training
Granville × Dow Theory recommended.
Confirm the higher-timeframe EMA trend (20/30/40), then on the lower timeframe wait for this indicator’s continuation signal—HL→HH in uptrends or LH→LL in downtrends—and enter on pullbacks/returns to the EMA band.
In short, target Granville #2 (buy the dip) and #6 (sell the rally) at the confluence of structure + moving averages
GEX Options Flow Pro 100% free
INTRODUCTION
This script is designed to visualize advanced options-derived metrics and levels on TradingView charts, including Gamma Exposure (GEX) walls, gamma flip points, vanna levels, delta-neutral prices (DEX), max pain, implied moves, and more. It overlays dynamic lines, labels, boxes, and an info table to highlight potential support, resistance, volatility regimes, and flow dynamics based on options data.
These visualizations aim to help users understand how options market structure might influence price action, such as areas of potential stability (positive GEX) or volatility (negative GEX). All data is user-provided via pasted strings, as Pine Script cannot fetch external options data directly due to platform limitations (detailed below).
The script is open-source under TradingView's terms, allowing study, modification, and improvement. It draws inspiration from standard options Greeks and exposure metrics (e.g., gamma, vanna, charm) discussed in financial literature like Black-Scholes models and dealer positioning analyses. No external code is copied; all logic is original or based on mathematical formulas.
Disclaimer: This is an educational tool only. It does not provide investment advice, trading signals, or guarantees of performance. Past data is not indicative of future results. Use at your own risk, and combine with your own analysis. Not intended for qualified investors only.
How the Options Levels Are Calculated
Levels are not computed in Pine Script—they rely on pre-calculated values from external tools (e.g., Python scripts using libraries like yfinance for options chains). Here's how they're typically derived externally before pasting into the script:
Fetching Options Data: Retrieve options chain for a ticker: strikes, open interest (OI), volume, implied volatility (IV), expirations (e.g., shortest: 0-7 DTE, short: 7-14 DTE, medium: ~30 DTE, long: ~90 DTE). Get current price and 5-day history for context.
Gamma Walls (Put/Call Walls): Compute gamma for each option using Black-Scholes: gamma = N'(d1) / (S * σ * √T) where S = spot price, K = strike, T = time to expiration (years), σ = IV, N'(d1) = normal PDF. Aggregate GEX at strikes: GEX = sign * gamma * OI * 100 * S^2 * 0.01 (per 1% move, with sign based on dealer positioning: typically short calls/puts = negative GEX). Put Wall: Highest absolute GEX put strike below S (support via dealer buying on dips). Call Wall: Highest absolute GEX call strike above S (resistance via dealer selling on rallies). Secondary/Tertiary: Next highest levels. Historical walls track tier-1 levels over 5 days.
Gamma Flip: Net GEX profile across prices: Sum GEX for all options at hypothetical spots. Flip point: Interpolated price where net GEX changes sign (stable above, volatile below).
Vanna Levels: Vanna = -N'(d1) * d2 / σ. Weighted by OI; highest positive/negative strikes.
DEX (Delta-Neutral Price): Net dealer delta: Sum (delta * OI * 100 * sign), with delta from Black-Scholes. DEX: Price where net delta = 0 (interpolated).
Max Pain: Strike minimizing total intrinsic value for all options holders.
Skew: 25-delta skew: IV difference between 25-delta put and call (interpolated).
Net GEX/Delta: Total signed GEX/delta at current S.
Implied Move: ATM IV * √(DTE/365) for 1σ range.
C/P Ratio: (Call OI + volume) / (Put OI + volume).
Smart Stop Loss: Below lowest support (e.g., Put Wall, gamma flip), buffered by IV * √(DTE/30).
Other Metrics: IV: ATM average. 5-day metrics: Avg volume, high/low.
External tools handle dealer assumptions (e.g., short calls/puts) and scaling (per % move).
Effect as Support and Resistance in Technical Trading
Options levels reflect dealer hedging dynamics:
Put Wall (Gamma Support): High put GEX creates buying pressure on dips (dealers hedge short puts by buying stock). Use for long entries, bounces, or stops below.
Call Wall (Gamma Resistance): High call GEX leads to selling on rallies. Good for trims, shorts, or reversals.
Gamma Flip: Pivot for volatility—above: dampened moves (positive GEX, mean reversion); below: amplified trends (negative GEX, momentum).
Vanna Levels: Sensitivity to IV changes; crosses may signal vol shifts.
DEX: Dealer delta neutral—bullish if price below with positive delta.
Max Pain: Price magnet minimizing option payouts.
Implied Move/Confidence Bands: Expected ranges (1σ/2σ/3σ); breakouts suggest extremes.
Liquidity Zones: Wall ranges as price magnets.
Smart Stop Loss: Protective level below supports, IV-adjusted.
C/P Ratio & Skew: Sentiment (high C/P = bullish; high skew = put demand).
Net GEX: Positive = low vol strategies (e.g., condors); negative = momentum trades.
Combine with TA (e.g., volume, trends). High activity strengthens effects; alerts on crosses/proximities for awareness.
Limitations of the TradingView Platform for Data Pulling
Pine Script is sandboxed:
No API calls or internet access (can't fetch options data directly).
Limited to chart/symbol data; no real-time chains.
Inputs static per load; manual updates needed.
Caching not persistent across sessions.
This ensures lightweight scripts but requires external data sourcing.
Creative Solution for On-Demand Data Pulling
Users can use external tools (e.g., Python scripts with yfinance) to fetch/compute data on demand. Generate a formatted string (ticker,timestamp|term1_data|term2_data|...), paste into inputs. Tools can process multiple tickers, cache for ~15-30 min, and output strings for quick portfolio scanning. Run locally or via custom setups for near-real-time updates without platform violations.
For convenience, a free bot is available on my website that accepts commands like !gex to generate both current data strings (for all expiration terms) and historical walls data on demand. This allows users to easily obtain fresh or cached data (refreshed every ~30 min) for pasting into the indicator—ideal for scanning portfolios without manual coding.
Script Functionality Breakdown
Inputs: Data strings (current/historical); term selector (Shortest/Short/Medium/Long); toggles (historical walls, GEX profile, secondaries, vanna, table, max pain, DEX, stop loss, implied move, liquidity, bands); colors/styles.
Parsing: Extracts term-specific data; validates ticker match; gets timestamp for freshness.
Drawing: Dynamic lines/labels (width/color by GEX strength); boxes (moves, zones, bands); clears on updates.
Info Table: Dashboard with status (freshness emoji), Greeks (GEX/delta with emojis), vol (IV/skew), levels (distances), flow (C/P, vol vs 5D).
Historical Walls: Displays past tier-1 walls on daily+ timeframes.
Alerts: 20+ conditions (e.g., near/cross walls, GEX sign change, high IV).
Performance: Efficient for real-time; smart label positioning.
Release Notes
Initial release: Full features including multi-term support, enhanced table with emojis/sentiment, dynamic visuals, smart stop loss.
Data String Format: TICKER,TIMESTAMP|TERM1_DATA|TERM2_DATA|TERM3_DATA|TERM4_DATA Where each TERM_DATA = val0,val1,...,val30 (31 floats: current_price, prev_close, call_wall_1, call_wall_1_gex, ..., low_5d). Historical: TICKER|TERM1_HIST|... where TERM_HIST = date:cw,pw;date:cw,pw;...
Feedback welcome in comments. Educational only—not advice.
MA Disparity (乖離率％)このインジケータは、現在の終値と移動平均線（SMAまたはEMA）との**乖離率（かいりりつ）**を％で表示します。
「価格が移動平均線からどれだけ離れているか」を視覚的に把握することで、**過熱感（買われすぎ／売られすぎ）**を判断できます。
設定で期間（例：20日、25日など）を自由に変更可能
SMA／EMAの選択が可能
0%ラインを基準として、プラス側は上方乖離、マイナス側は下方乖離を示します
トレンドの勢い確認、押し目・戻り目の判断にも活用できます
📊 例：
+10%以上 → 短期的な過熱感
-10%以下 → 売られすぎの可能性
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This indicator displays the disparity ratio (price deviation) between the current close and a moving average (SMA or EMA), expressed in percentage.
It helps visualize how far the price has moved away from its average — a useful signal for identifying overbought or oversold conditions.
Adjustable period (e.g., 20, 25, 50, etc.)
Selectable MA type (SMA or EMA)
0% baseline: positive values = above MA, negative = below MA
Great for spotting trend strength, pullbacks, and reversals
📈 Example:
+10% → potential overbought zone
-10% → potential oversold zone
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#Kairi #Disparity #MovingAverage #Volume #SMA #EMA #Overbought #Oversold #Japan
8 SMA Bands (Points)The "8 SMA Bands (Points)" indicator creates a set of eight Simple Moving Average (SMA) bands with adjustable offsets, overlaid on a price chart.
Here’s a breakdown:
Purpose: It tracks price trends using multiple SMAs of varying lengths (default 25, 50, 100, 200, 400, 800, 1600 periods) and adds upper and lower bands around each SMA based on point offsets, helping identify potential support, resistance, and trend strength.
Key Components:
SMAs: Eight SMAs are calculated using closing prices with lengths ranging from 25 to 1600 periods. Each SMA is plotted with a distinct color and line thickness (e.g., MA 1 is blue, MA 8 is white with thicker lines).
Bands: For each SMA, upper and lower bands are created by adding or subtracting a point-based offset (suggestions are to use default Murray Math based numbers e.g., 0.305176 for MA 1, 39.062528 for MA 8) multiplied by a global multiplier (default 1.0). These offsets define the band width and are customizable.
Customization: Users can adjust SMA lengths, offset points, colors, and the global multiplier via input settings grouped by each MA.
Visuals: SMAs are plotted as solid lines with increasing thickness for longer periods (e.g., MA 6–8 use thicker lines or circles).
Bands are plotted as semi-transparent lines matching the SMA color, with longer-term bands (MA 6–7) using a different style for emphasis.
Usage: The indicator helps traders visualize trend direction (upward if price is above most SMAs, downward if below) and potential reversal zones where price interacts with band boundaries.
The flattening or crossing of bands can signal momentum shifts. The coming together of multiple envelope tops/bottoms can signal reversal zones of various degrees based on how many envelopes come together. More envelopes converging mean a more significant top or bottom.
This indicator is particularly useful for identifying multi-timeframe trends and volatility zones on assets like Gold Futures, with flexibility to fine-tune based on market conditions.
SuperScript Filtered (Stable)🔎 What This Indicator Does
The indicator is a trend and momentum filter.
It looks at multiple well-known technical tools (T3 moving averages, RSI, TSI, and EMA trend) and assigns a score to the current market condition.
• If most tools are bullish → score goes up.
• If most tools are bearish → score goes down.
• Only when the score is very strong (above +75 or below -75), it prints a Buy or Sell signal.
This helps traders focus only on high-probability setups instead of reacting to every small wiggle in price.
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⚙️ How It Works
1. T3 Trend Check
o Compares a fast and slow T3 moving average.
o If the fast T3 is above the slow T3 → bullish signal.
o If it’s below → bearish signal.
2. RSI Check
o Uses the Relative Strength Index.
o If RSI is above 50 → bullish momentum.
o If RSI is below 50 → bearish momentum.
3. TSI Check
o Uses the True Strength Index.
o If TSI is above its signal line → bullish momentum.
o If TSI is below → bearish momentum.
4. EMA Trend Check
o Looks at two exponential moving averages (fast and slow).
o If price is above both → bullish.
o If price is below both → bearish.
5. Score System
o Each condition contributes +25 (bullish) or -25 (bearish).
o The total score can range from -100 to +100.
o Score ≥ +75 → Strong Buy
o Score ≤ -75 → Strong Sell
6. Signal Filtering
o Only one buy is allowed until a sell appears (and vice versa).
o A minimum bar gap is enforced between signals to avoid clutter.
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📊 How It Appears on the Chart
• Green “BUY” label below candles → when multiple signals agree and the market is strongly bullish.
• Red “SELL” label above candles → when multiple signals agree and the market is strongly bearish.
• Background softly shaded green or red → highlights bullish or bearish conditions.
No messy tables, no clutter — just clear trend-based entries.
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🎯 How Traders Can Use It
This indicator is designed to help traders by:
1. Filtering Noise
o Instead of reacting to every small crossover or RSI blip, it waits until at least 3–4 conditions agree.
o This avoids entering weak trades.
2. Identifying Strong Trend Shifts
o When a Buy or Sell arrow appears, it usually signals a shift in momentum that can lead to a larger move.
3. Reducing Overtrading
o By limiting signals, traders won’t be tempted to jump in and out unnecessarily.
4. Trade Confirmation
o Traders can use the signals as confirmation for their own setups.
o Example: If your strategy says “go long” and the indicator also shows a strong Buy, that trade has more conviction.
5. Alert Automation
o Built-in alerts mean you don’t have to watch the chart all day.
o You’ll be notified only when a strong signal appears.
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⚡ When It Helps the Most
• Works best in trending markets (bullish or bearish).
• Very useful on higher timeframes (1h, 4h, daily) for swing trading.
• Can also work on lower timeframes (5m, 15m) if combined with higher timeframe trend filtering.
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👉 In short
This indicator is a signal filter + trend detector. It combines four powerful tools into one scoring system, and only tells you to act when the odds are stacked in your favor.
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Bollinger Bands with 4 Moving AveragesCombines Bollinger Bands (BB) with up to four optional Moving Averages (MA) to read volatility, trend direction, and dynamic support–resistance in one overlay.
How It Works
BB: basis = MA(length, type) with standard deviation mult. upper = basis + dev, lower = basis − dev.
MA1–MA4: additional averages you can toggle (default only MA4/200 enabled).
Key Features
Flexible basis MA type for BB: SMA / EMA / RMA (Wilder) / WMA / VWMA.
Four optional MAs with independent length, color, and width (defaults: 7, 25, 99, 200; only 200 on by default).
Offset to shift BB for visual testing.
Overlay on price with shaded band between Upper–Lower.
Inputs & Defaults
BB Length = 20, StdDev = 2.0, Source = close.
Basis MA Type = SMA.
MA4 active (200), MA1–MA3 off (7/25/99 ready).
Offset = 0.
Practical Use
Use BB for volatility context: squeeze → potential breakout; expansion → strong trend.
Treat Basis / Upper / Lower as dynamic levels:
Pullbacks to Basis often become decision zones in trends.
Upper/Lower touches = relative extremes.
Add MA4(200) for primary bias; enable MA1–MA3 for finer timing.
Typical behavior:
Price > MA200 and rising basis → bullish bias; watch pullbacks to basis/MA25-like zones.
Price < MA200 and falling basis → bearish bias; watch rejections at basis/MAs.
Common Signals (not financial advice)
Breakout + BB expansion confirms momentum.
Squeeze + basis break can preface volatility expansion.
Confluence: Lower touch + fast MA in uptrends → mean-reversion setups; inverse for downtrends.
Notes
MA1–MA4 are SMA in the code; BB basis follows the selected MA type.
Test across timeframes; tune length and mult to the asset.
Disclaimer
Visual tool only. Combine with risk management, multi-timeframe confirmation, and a tested plan.
Irrationality Index by CRYPTO_ADA_BTC"The market can be irrational longer than you can stay solvent" ~ John Maynard Keynes
This indicator, the Irrationality Index, measures how far the current market price has deviated from a smoothed estimate of its "fair value," normalized for recent volatility. It provides traders with a visual sense of when the market may be behaving irrationally, without giving direct buy or sell signals.
How it works:
1. Fair Value Calculation
The indicator estimates a "fair value" for the asset using a combination of a long-term EMA (exponential moving average) and a linear regression trend over a configurable period. This fair value serves as a smoothed baseline for price, balancing trend-following and mean-reversion.
2. Volatility-Adjusted Z-Score
The deviation between price and fair value is measured in standard deviations of recent log returns:
Z = (log(price) - log(fairValue)) / volatility
This standardization accounts for different volatility environments, allowing comparison across assets.
3. Irrationality Score (0–100)
The Z-score is transformed using a logistic mapping into a 0–100 scale:
- 50 → price near fair value (rational zone)
- >75 → high irrationality, price stretched above fair value
- >90 → extreme irrationality, unsustainable extremes
- <25 → high irrationality, price stretched below fair value
- <10 → extreme bearish irrationality
4. Price vs Fair Value (% deviation)
The indicator plots the percentage difference between price and fair value:
pctDiff = (price - fairValue) / fairValue * 100
- Positive values → Percentage above fair value (optimistic / overvalued)
- Negative values → Percentage below fair value (pessimistic / undervalued)
Visuals:
- Irrationality (%) Line (0–100) shows irrationality level.
- Background Colors: Yellow= high bullish irrationality, Green= extreme bullish irrationality, Orange= high bearish irrationality, Red= extreme bearish irrationality.
- Price - FairValue (%) plot: price deviation vs fair value (%), Colored green above 0 and red below 0.
- Label: display actual price, estimated fair value, and Z-score for the latest bar.
- Alerts: configurable thresholds for high and extreme irrationality.
How to read it:
- 50 → Market trading near fair value.
- >75 / >90 → Price may be irrationally high; risk of pullback increases.
- <25 / <10 → Price may be irrationally low; potential rebound zones, but trends can continue.
- Price - FairValue (%) plot → visual guide for % price stretch relative to fair value.
Notes / Warnings:
- Measures relative deviation, not fundamental value!
- High irrationality scores do not automatically indicate trades; markets can remain can be irrational longer than you can stay solvent .
- Best used with other tools: momentum, volume, divergence, and multi-timeframe analysis.
Grand Master's Candlestick Dominance (ATR Enhanced)### Grand Master's Candlestick Dominance (ATR Enhanced)
**Overview**
Unleash the ancient wisdom of Japanese candlestick charting with a modern twist! This comprehensive Pine Script v5 strategy and indicator scans for over 75 classic and advanced candlestick patterns (bullish, bearish, and neutral), assigning dynamic strength scores (1-10) to each for precise signal filtering. Enhanced with Average True Range (ATR) for volatility-aware body size validation, it dominates the markets by combining timeless pattern recognition with robust confirmation layers. Whether used as a backtestable strategy or visual indicator, it empowers traders to spot high-probability reversals, continuations, and indecision setups with surgical accuracy.
Inspired by Steve Nison's *Japanese Candlestick Charting Techniques*, this tool elevates pattern analysis beyond basics—think Hammers, Engulfing patterns, Morning Stars, and rare gems like Abandoned Baby or Concealing Baby Swallow—all consolidated into intelligent arrays for real-time averaging and prioritization.
**Key Features**
- **Extensive Pattern Library**:
- **Bullish (25+ patterns)**: Hammer (8.0), Bullish Engulfing (10.0), Morning Star (7.0), Three White Soldiers (9.0), Dragonfly Doji (8.0), and more (e.g., Rising Three, Unique Three River Bottom).
- **Bearish (25+ patterns)**: Hanging Man (8.0), Bearish Engulfing (10.0), Evening Star (7.0), Three Black Crows (9.0), Gravestone Doji (8.0), and exotics like Upside Gap Two Crows or Stalled Pattern.
- **Neutral/Indecision (34+ patterns)**: Doji variants (Long-Legged, Four Price), Spinning Tops, Harami Crosses, and multi-bar setups like Upside Tasuki Gap or Advancing Block.
Each pattern includes duration tracking (1-5 bars) and ATR-adjusted body/shadow criteria for relevance in volatile conditions.
- **Smart Confirmation Filters** (All Toggleable):
- **Trend Alignment**: 20-period SMA (customizable) ensures entries align with the prevailing trend; optional higher timeframe (e.g., Daily) MA crossover for multi-timeframe confluence.
- **Support/Resistance (S/R)**: Pivot-based levels with 0.01% tolerance to confirm bounces or breaks.
- **Volume Surge**: 20-period volume MA with 1.5x spike multiplier to validate momentum.
- **ATR Body Sizing**: Filters small bodies (<0.3x ATR) and long bodies (>0.8x ATR) for context-aware pattern reliability.
- **Follow-Through**: Ensures post-pattern confirmation via bullish/bearish closes or closes beyond prior bars.
Minimum average strength (default 7.0) and individual pattern thresholds (5.0) prevent weak signals.
- **Entry & Exit Logic**:
- **Long Entry**: Bullish average strength ≥7.0 (outweighing bearish), uptrend, volume spike, near support, follow-through, and HTF alignment.
- **Short Entry**: Mirror for bearish dominance in downtrends near resistance.
- **Exits**: Bearish/neutral shift, or fixed TP (5%) / SL (2%)—pyramiding disabled, 10% equity sizing.
- Backtest range: Jan 1, 2020 – Dec 31, 2025 (editable). Initial capital: $10,000.
- **Interactive Dashboard** (Top-Right Panel):
Real-time insights including:
- Market phase (e.g., "Bullish Phase (Avg Str: 8.2)"), active pattern (e.g., "BULLISH: Bullish Engulfing (Str: 10.0, Bars: 2)"), and trend status.
- Strength breakdowns (Bull/Bear/Neutral counts & averages).
- Filter status (e.g., "Volume: ✔ Spike", "ATR: Enabled (L:0.8, S:0.3)").
- Backtest stats: Total trades, win rate, streak, and last entry/exit details (price & timestamp).
Toggle mode: Strategy (live trades) or Indicator (signals only).
- **Advanced Alerts** (15+ Toggleable Types):
Set up via TradingView's "Any alert() function call" for bar-close triggers:
- Entry/Exit signals with strength & pattern details.
- Strong patterns (≥2 bullish/bearish), neutral indecision, volume spikes.
- S/R breakouts, HTF reversals, high-confidence singles (≥8.0 strength).
- Conflicting signals, MA crossovers, ATR volatility bursts, multi-bar completions.
Example: "STRONG BULLISH PATTERN detected! Strength: 9.5 | Top Pattern: Three White Soldiers | Trend: Up".
**Customization & Usage Tips**
- **Inputs Groups**: Strategy toggles, confirmations, exits, backtest dates, and 15+ alert switches—all intuitively grouped.
- **Optimization**: Tune min strengths for aggressive (lower) or conservative (higher) trading; enable/disable filters to suit your style (e.g., disable S/R for scalping).
- **Best For**: Forex, stocks, crypto on 1H–Daily charts. Test on historical data to refine TP/SL.
- **Limitations**: No external data installs; relies on built-in TA functions. Patterns are probabilistic—combine with your risk management.
Master the candles like a grandmaster. Deploy on TradingView, backtest relentlessly, and let dominance begin! Questions? Drop a comment.
*Version: 1.0 | Updated: September 2025 | Credits: Built on Pine Script v5 with nods to Nison's timeless techniques.*
