Probability Oscillator (Expo)█ Overview
The Probability Oscillator uses a Bayesian approach to measure the probability of a price movement and trend continuation. This approach considers the prior probability of a price movement and the current market conditions to identify trends, sentiment, momentum, and retracements.
█ How does the indicator work?
The Probability Oscillator is based on the idea of Bayesian probability , which is a way of using existing data to make predictions about the likelihood of an event occurring. This indicator uses the Bayesian probability model to analyze past trading activity and calculate the probability of a trend continuing. This function also considers the prior probability of a price movement and the current market conditions to analyze the likelihood of a retracement.
█ How to use
Investors can use this indicator to measure the market sentiment and the strength/direction of a trend. It does also give insights into momentum moves and retracements.
█ Indicator Customization
The user can change the trend approaches and input source as well as adjust the overbought and oversold areas to make the calculation more sensitive to retracements.
The user can change the sensitivity of the momentum function to adjust it only to identify the most significant momentum moves.
-----------------
Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Sentimentalanalysis
Synapse Level IndexSynapse Level Index Indicator
This indicator simply allows the user to set their desired "Lookback Period",
and "Lookahead Period" in the Bars Back and Bars Ahead, Pivot Settings. Once
selected, the indicator tracks the highest high from X Bars Ahead, and the
lowest low, from Y Bars Back. Then, the indicator calculates the Mean Value.
Then, the indicator proceeds to draw the High to Low range by Eighths.
Fear and Greed increase at these levels psychologically. Volatility Ensues.
Enjoy,
Mr. Storm
Big Whale Purchases and SalesBig Whale Purchases and Sales - plots big whale transactions on your chart!
People that hold more than 1% of a crypto currencies circulating supply are considered whales and have a huge influence on price, not just because they can move the market with their huge transactions, but also because other traders often track their wallets and follow their example. Taking a look at whale holdings, one can see why whale worship is so common in crypto: While Bitcoin has a relatively low whale concentration, many of the Top 100 Cryptocurrencies have whales control 60% or more of their circulating supply.
Integrating IntoTheBlock data, this script plots the transactions of these whales and, in strategy mode, copy trades them.
Features:
Strategy Mode: Switches the script between an indicator and a strategy.
Standard Deviations: The number of Standard Deviations that a transaction needs to surpass to be considered worth plotting. Setting this to 0 will show all whale transactions, higher settings will only show the biggest transactions.
Blockchain: The Chain on which Whale activity is tracked.
Trend Dominance Multi Timeframe [Misu]█ This indicator shows the repartition of bullish and bearish trends over a certain period in multiple timeframes. It's also showing the trending direction at the time.
█ Usages:
Trend dominance is expressed with two percentages: left is downtrend and right is uptrend. Cell colors turn green if dominance is up and red if it is down.
Knowing the trend dominance allows you to have a better overview of the market conditions.
You can use it to your advantage to favor long or short trades, reversal or breakout strategies, etc.
█ Features:
> Table colors
> Instant Trend Multitimeframe
> Trend Dominance Multitimeframe
█ Parameters:
> Length: Length is used to calculate ATR.
> Atr Multiplier: A factor used to balance the impact of the ATR on the Trend Bands calculation.
> UI Settings
BTC Twitter SentimentBTC Twitter Sentiment - shows the total numbers of all negative, neutral and positive Bitcoin related tweets.
On default settings, the tweets are plotted in red (negative) white (neutral) as well as green (positive). The three charts are stacked so the total number of tweets is easily discernible.
Furthermore, there's an optional smoothing setting in the options.
The Twitter Sentiment data is provided daily by IntoTheBlock; Since data is only updated once a day the graph might look chunky on lower timeframes, even with smoothing.
Blockchain Fundamentals: 200 Week MA Heatmap [CR]Blockchain Fundamentals: 200 Week MA Heatmap
This is released as a thank you to all my followers who pushed me over the 600 follower mark on twitter. Thanks to all you Kingz and Queenz out there who made it happen. <3
Indicator Overview
In each of its major market cycles, Bitcoin's price historically bottoms out around the 200 week moving average.
This indicator uses a color heatmap based on the % increases of that 200 week moving average. Depending on the rolling cumulative 4 week percent delta of the 200 week moving average, a color is assigned to the price chart. This method clearly highlights the market cycles of bitcoin and can be extremely helpful to use in your forecasts.
How It Can Be Used
The long term Bitcoin investor can monitor the monthly color changes. Historically, when we see orange and red dots assigned to the price chart, this has been a good time to sell Bitcoin as the market overheats. Periods where the price dots are purple and close to the 200 week MA have historically been good times to buy.
Bitcoin Price Prediction Using This Tool
If you are looking to predict the price of Bitcoin or forecast where it may go in the future, the 200WMA heatmap can be a useful tool as it shows on a historical basis whether the current price is overextending (red dots) and may need to cool down. It can also show when Bitcoin price may be good value on a historical basis. This can be when the dots on the chart are purple or blue.
Over more than ten years, $BTC has spent very little time below the 200 week moving average which is also worth noting when thinking about price predictions for Bitcoin or a Bitcoin price forecast.
Notes
1.) If you do not want to view the legend do the following: Indicator options > Style tab > Uncheck "Tables"
2.) I use my custom function to get around the limited historical data for bitcoin. You can check out the explanation of it here:
Candle StrengthIt is hard to know which party plays a vital role in the candle. Sometimes we see a red candle/ Seller's candle very weak, but still, the market continues. Here, I tried to figure out how much strength buyers/sellers possess in their respective candles.
The idea is simply to measure the area between high and low and then calculate the opposite party's oppression by calculating the wick's area.
This script is more like a tool, and hence I do not suggest using this as an independent strategy. However, combining it with other analyses and strategies will surely bear fruitful results.
I, in the future, will come up with strategies and more tools like this.
So, follow me to keep getting updates.
Thanks.
Sentimental Cycles with CrossingsThis indicator provides the following options, where you can choose to display:
DEMA TEMA cycles, filtered by default with sentiment.
Sentiment cloud, based on the 200ema area between the 1 minute and 1 hour lines.
One or both ema crossings with their respective timeframes (independent from current chart timeframe) and optional line display.
One or two tickers and their respective crossings based on selected timeframes.
Additional EMA lines supplied with their very own timeframe.
This indicator is intended to be used any way suitable to the user, nearly every aspect is customizable, and the defaults are just enough to get you started on deciding whether it's time to enter calls or puts.
TIPS for optimal results:
- Try using 2 charts: the 1 minute and the 1 hour per symbol. Under the 1 minute chart, use the 3 minute and 5 minute timeframe for crossings.
- Try to start a position when a sentimental DEMA TEMA cloud is beginning to form. The first bar usually pays thicc.
- Tickers SPY and VXX can be of good reference for market direction. If all crossings coincide, it's because there's a strong momentum in a certain direction for the market.
Sentiment by JDG v5.0Hi Trading View User,
First of all: Strictly use 1hr TF
This strategy uses the following indicators:
1. RSI (default and improved provided by trading view.
2. Fear and greed index
3. Slope of Fear and Greed Index( Drop over run formula)
Slope is calculated and fine tuned for every stock/coin.
All crypto coins have different slope structure / fear and greed DNA.
Slope is different for every coin/stock, this is automatically calculated by the script and optimized for best profit.
How the Fear and Greed Index is calculated
So how do they arrive at the final number? There are multiple factors that influence the ultimate output.
1. Volatility: The index compares volatility and max drawdowns (a drawdown is a decline in value) against the 30-day and 90-day average volatility and drawdown numbers. Higher volatility is considered fearful and increases the final output. Volatility represents 25% of the index value.
2. Momentum/volume: The index measures the current momentum and volume of the bitcoin market. Again, against the 30-day and 90-day averages. High volume and momentum are seen as negative metrics and increase the final index output. Momentum/ volume represents 25% of the index value.
3. Social Media: The index tracts mentions and hashtags for bitcoin , and compares them to historical averages. Higher mentions and hashtags are interpreted as increased market involvement and lead to an increase in the final index output. Social media represents 15% of the index value.
4. Surveys: The index conducts large, market-wide surveys on a weekly basis. Usually, there are 2,000-3,000 participants in each survey. More enthusiastic survey results drive the index higher, pointing to market greed prevailing. Surveys represent 15% of the index value.
5. Dominance: The index measures bitcoin dominance in the overall market. The higher the bitcoin dominance, the more fearful the market – as interpreted by the index. As alternative coins gain market share, the market is acting courageously and not fearfully. The lower the bitcoin dominance, the greedier the market is becoming. 6. 6. Dominance represents 10% of the index value.
7. Trends: The index includes Google trend numbers in the final value. The higher the search interest of cryptocurrency becomes; the higher amount of greed is seen in the market. Trends represent 10% of the index value.
For more information on Crypto Fear & Greed Index please do visit:
alternative.me
Strategy Buy Conditions:
1. Sentiment is at Extreme Fear and Fear , as this increases the price also increases.
2. Trading view RSI crossing up
Note: Wait for long signal, then enter a trade on the rocket emoji
Strategy Sell Conditions:
1. Sentiment is at Extreme Greed and Greed , as this decreases the price also decreases.
The current code/ strategy supports 55 coins from Binance for spot / futures trading.
Here are the list:
SHIBUSDT
AAVEUSDT
ADAUSDT
AKROUSDT
ALGOUSDT
ATOMUSDT
AUDIOUSDT
AVAXUSDT
AXSUSDT
BANDUSDT
BATUSDT
BLZUSDT
BTCDOMUSDTPERP
BTCUSDT
CTKUSDT
EGLDUSDT
EOSUSDT
ETHUSDT
FLMUSDT
FTMUSDT
GALAUSDT
IOTAUSDT
IOTXUSDT
KAVAUSDT
KLAYUSDT
LITUSDT
LRCUSDT
LUNAUSDT
MATICUSDT
MTLUSDT
NEARUSDT
NEOUSDT
ONTUSDT
ROSEUSDT
RUNEUSDT
SANDUSDT
SKLUSDT
SOLUSDT
THETAUSDT
WAVESUSDT
XRPUSDT
ZECUSDT
HBARUSDT
ONEUSDT
GRTUSDT
DOTUSDT
CTSIUSDT
VETUSDT
LINKUSDT
SRMUSDT
OGNUSDT
MANAUSDT
Reminding again, please use 1HR TF only when using this strategy.
Wait for long signal, then enter a trade on the rocket emoji
Message me for access.
-CodeFather
Volume Weighted Accumulation DistributionVWAD : Volume Weighted Accumulation Distribution
VWAD, is a "Sentiment analysis" indicator that measures a moving average of volume being bought versus volume being sold.
====================
SETTINGS:
Acc/Dist Immediacy : is a lookback length from which buying and selling volume data is collected.
Signal Smoothing : removes the whiplash effect of the raw Immediacy buy and sell data (higher numbers slows the averaging effect)
Short Term Sentiment : measures a period of candles to obtain a "reading" of accumulation or distribution sentiment.
Long Term Sentiment : measures a longer period of candles to obtain a "reading" of accumulation or distribution sentiment.
Volatility Threshold : affects the colouring of an optional Histogram display. When the signal line exceeds this negative or positive level, the histogram will colour depending on which accumulation/distribution state its in and whether it is accelerating or decelerating. This helps to remove false "Signals".
Show Histogram : allows you to "hide" the histogram and just view the two plot lines (the 'VWAD', which displays as red or green and the 'Signal' line which is a smoothed version of the VWAD line)
====================
BASIC USAGE:
Looking at just the yellow 'Signal' line, one can determine the sentiment of Accumulation or Distribution, depending on whether it is above the dashed zero horizontal line (accumulation) or below (distribution).
It can be helpful to see when the balance of buying or selling volume shifts toward the top or bottom of price movements. As such, this indicator is not intended to give "Buy" or "Sell" signals, but instead is used to 'start finding opportunities' to enter and exit.
I have found that with the default settings, the 4 - 8 hour chart offers a good balance of "signal to noise", however, feel free to adjust the settings to your liking.
-----------------------------
Notes:
This is intended to suit a dark background, if the VWAD becomes popular enough, there may be an update to allow re-colouring to suit those freaks that prefer light backgrounds.
====================\\
High Low Index SPY Top 40Modification from original code for "High Low Index" by © LonesomeTheBlue
- Made modification specifically for Top 40 AMEX:SPY holdings
- Added Market sentiment histogram (Total count green vs red), and SMA line for it
- Added arrows for peaks and dips on High Low Index and Market Sentiment MA
Idea behind this indicator is that SPY should follow the overall sentiment of its top holdings. I believe this bring great value to SPY traders.
Enjoy~!
Sentiment Estimator [AstrideUnicorn]Sentiment Estimator is an indicator that estimates market sentiment using only its pricing data. It counts bullish and bearish candles in a rolling window and calculates their relative values as percentages of the total amount of candles in the window. Market sentiment shows the direction in which the market is biased to move or the current trend direction. Extreme values of the market sentiment are contrarian signals. When the market sentiment is too bullish, it is time to sell and vice versa.
HOW TO USE
Sentiment Estimator plots a pair of green and red circles for each candle. They represent bullish and bearish sentiments, respectively.
The vertical positions of the circles show corresponding sentiment values in percentage units. For example, if a green circle's height is 60, the market is 60% bullish. In this case, the red circle's height will be 40, as bullish and bearish parts of the market sentiment sum to 100%.
The blue line plotted at the 50% level shows the neutral sentiment level. If a green circle is above the blue line, the prevailing market sentiment at that time is bullish, and the market is biased to move up. If a red one is above, the market has predominantly bearish sentiment and is prone to move down.
The red level shows extreme sentiment level. If a green or red circle is above this line, it means that the market is extremely bullish or bearish, respectively. It is a contrarian signal, and one can expect a reversal soon. In this case, a blue label with the text "reversal expected" is shown.
SETTINGS
Timeframe - allows choosing a timeframe other than the chart's one for the indicator calculation.
Look-Back Window - sets the historical window length used to perform the calculations. You can adjust the window to get the best results for a particular market or timeframe.
Prophit Ninja: Hidden ScrollStay ahead of the markets moves with "Prophit Ninja: Hidden Scroll".
Our legendary senseis have mastered the arts of wielding the Katana and Shuriken over many decades of focused practice and distilled their systems and techniques down to their most vital form- storing their knowledge in this ancient scroll for easy adoption by any ninja practiced enough to be able to decipher it.
═════════════════════════════════════════════════════════════════════════
█ INTERPRETATION
Each sub-indicator in this package can be used as a confirmation tool to check your bias and give you a more informed decision as they all take into account every reading shown and not shown being calculated across all Prophit Ninja packages. A sentiment rating below the candle shows bullish bias while a green color emphasizes bullish strength- a sentiment rating above the candle shows bearish bias while a red color emphasizes bearish strength- gold color signifies a strong turn in the market while grey/dark grey is a weak reading. A green trend sensei reading is bullish- while a red trend sensei reading is bearish. A green bull trade sensei label signifies a possible bullish trade set up, while a red bear label trade sensei signifies a possible bearish trade set up. Stat sensei gives you tick by tick multi-time frame readings to always keep you aware of the exact environment you're in. Lastly risk sensei will give you the most optimal least risk trade set-up based on user defined variables and give you tick by tick readings of your trade status. This can be used as a standalone decision-maker, or used in confluence with other indicator packages in our Prophit Ninja bundle to get higher precision.
═════════════════════════════════════════════════════════════════════════
█ OVERVIEW
1 — Sentiment Sensei: A toggle-able tick by tick rating system (0-100%) for each candle based on over 100 individual readings .
2 — Trend Sensei: A toggle-able background coloring that easily shows you the trend bias behind the moves.
3 — Trade Sensei: A toggle-able trade finder that finds confluent trade set-ups to give you the upper hand.
4 — Stat Sensei: A toggle-able multi-time frame candle progress tracker with a built in trend bias and price/volume/momentum change/ratio trackers.
5 — Risk Sensei: A toggle-able risk manager with two variations of auto profit target zones , three variations of trailing stop losses , a win/loss tracker , trade duration timer and all the information you need to stay updated with the status of your trade at a glance whether long or short.
═════════════════════════════════════════════════════════════════════════
█ EASY CUSTOMIZATION
i.imgur.com
With a fully customizable and easy-to-use input menu , this indicator gives you the ability to tailor your trading experience to your needs and see as much (or as little) information as you want to; presented in the manner you deem most viable with the following options in just a few clicks:
Indicator Package- This option allows you to switch between the four display modes available so in any moment you can completely change the metrics you’re reading in just two clicks. This allows you the ability to make decisions based on not only what you’re comfortable with; but also to find confirmation or disagreement with other systems instantly.
Color Theme- There are four color themes available which include original, colorful, monochrome and solid. These not only allow you a quick and easy way to change the colors to suit your style; they also make it so you can challenge your bias in an instant by viewing the data in a completely different way.
Dual Attack Modes- Whether you’re a scalper, day trader, swing trader, or investor; this option allows you to see the chart based on four different risk tolerance/time expectancy mentalities for the Katana and Shuriken separately in just two clicks. Investors can see what the scalpers are thinking and vice/versa to broaden their decision making and/or hone in when optimal.
Dual Sharpness Levels- This algorithm allows the user to display the data on five different smoothness levels for the Katana and Shuriken separately without suffering the inherent lag that accompanies most other indicators. Whether you like to see every tick of a choppy movement, or filter out the false signals into smooth readings, you can do so at any moment.
═════════════════════════════════════════════════════════════════════════
█ RISK SENSEI EXAMPLE
═════════════════════════════════════════════════════════════════════════
█ PRE-BUILT ALERTS
With Prophit Ninja: Hidden Scroll's built-in alerts you can enable alerts for any piece of the Hidden Scrollin just a few clicks. These alerts are way more specific and optimized than you can possibly achieve with the custom alert settings. Each checking for multiple possible activation triggers instead of one and populating the message field automatically so you can just click create.
═════════════════════════════════════════════════════════════════════════
As you can see; this ancient scroll has the ability to adapt to any reader or adversary and give those in control of its power the upper hand. Any mode of battle, any opponent, any circumstance- 'Prophit Ninja: Hidden Scroll' was polished by our finest artists to inform any reader and make sure they know when to attack, defend or simply allow the fight to play out by its easy-to-read coloring system. As long as you learn the techniques you'll have a much better chance of making the right decision than when you didn't.
This state-of-the-art tool is great for experienced traders, those who just started learning to trade, or anyone in between- truly made to suit the needs of any trader, in any moment, with any mindset (along with the other indicators in our Prophit Ninja bundle) you'll notice an immediate improvement in your market dexterity after learning it.
═════════════════════════════════════════════════════════════════════════
*everything displayed is part of the Prophit Ninja indicator bundle; this is an otherwise blank chart*
Rolling APY% [Benson]The indicator shows future rolling APY%.
Users can change the market by changing symbol. BTC is the default market.
Meanings of different BTC Rolling APY%:
Below 0 %= DOOMSDAY (it happened during the big crash on March 12, 2020)
0%-5% = extremely fearful
5%-10% = neutral
10%-15% = slightly optimistic
15%-20% = very optimistic
Above 20% = FOMO (it happened during the global top on 14 April, 2021)
Use this indicator to identify the arbitrage opportunities and the price top/bottom.
This is a paid indicator. Only for Sentiment Indicator subscribers.
Bull / Bear Volume (BBV) - Indicator"An approximation of the average Bull Volume component versus the average Bear Volume component of total Volume. Displays an interesting and helpful view of the ebb and flow of Bull and Bear Volume pressure in the market. Shows what the bears are up to while the bulls are in control and vice versa. You can see bull pressure building (or bear pressure diminishing) in advance of a bullish price move (especially in sideways markets and horizontal rectangular consolidations). The graph moves in curves from which you can often extrapolate reasonably accurate and useful projections of future Bull or Bear Volume Action." - Kaiji
This indicator has been totally converted by me from Amibroker Formula Language (AFL) into our pinescript just to make it suitable to use in our tradingview platform. I don't take any credits and neither I wished for. I just shared it for the sake of our tradingview community and whatever calculations are used in the script are all credit goes to 'kaiji' a developer in AFL who build this indicator in Amibroker platfrom where you can find him.
Identifying Trapped Traders - Market Phycology IndicatorThis indicator displays how many buyers and sellers are trapped into their positions. These figures are calculated by comparing the price they entered their positions, to the current price +- trading fees.
This indicator also features an option to account for trading fees, so that it can be used as reliably in the real world, on real people as much as possible!
The chart is a simple zero-line cross, displaying both buyers and sellers trapped in the form of a histogram.
Hope you enjoy! Happy trading!
Bitcoin Future Market Sentiment Pro (Indicator)[Benson]Sentiment Indicator Pro is a low-frequency trading signal developed by Benson.
It includes two products:
Indicators (display trading points on the K bar)
Stats (market sentiment stats)
This signals is based on the market stats from main BTC futures markets(BitMEX, Binance, Bybit, FTX), and uses composite technical indicators to filter out the best buying and selling points.
The backtest data of the past two years has a higher probability of identifying the relative high and low points of BTC's price
Since this signal is left-hand style trading style, ,it might be too early to identify the bottom or top, hence it is recommended that you use less than 2X leverage .
Note: The indicator is recommended to be applied in 1hr/2hr/4hr timeframes.
This is a paid indicator with a 14 days free trial, to get the access, please pm my Tradingview account directly.
Sentiment Indicator Pro 是 Benson 開發的低頻交易信號指標
此指標包含兩個產品：
Indicator (於K棒顯示買賣點)
Stats (市場情緒數字)
該信號基於多個期貨市場（BitMEX，Binance，Bybit，FTX）的數據，並使用綜合技術指標篩選出最佳的買入和賣出點
過去兩年的回測數據有較高機率識別出 BTC 價格的相對高低點
由於此信號是基於期貨市場數據作為左側交易的參考，有時候可能會過早識別出買點或賣點，因此建議您使用小於 2 倍的槓桿開單。
注意：建議在 1hr / 2hr / 4hr 時框使用該指標
這是一個付費指標，免費試用 14 天，如果你想使用這個指標，請直接私訊我的 Tradingview 帳號
Bitcoin Future Market Sentiment Pro (Stats) [Benson]Sentiment Indicator Pro is a low-frequency trading signal developed by Benson.
It includes two products:
Indicators (display trading points on the K bar)
Stats (market sentiment stats)
This signals is based on the market stats from main BTC futures markets(BitMEX, Binance, Bybit, FTX), and uses composite technical indicators to filter out the best buying and selling points.
The backtest data of the past two years has a higher probability of identifying the relative high and low points of BTC's price
Since this signal is left-hand style trading style, ,it might be too early to identify the bottom or top, hence it is recommended that you use less than 2X leverage .
Note: The indicator is recommended to be applied in 1hr/2hr/4hr timeframes.
This is a paid indicator with a 14 days free trial, to get the access, please pm my Tradingview account directly.
Sentiment Indicator Pro 是 Benson 開發的低頻交易信號指標
此指標包含兩個產品：
Indicator (於K棒顯示買賣點)
Stats (市場情緒數字)
該信號基於多個期貨市場（BitMEX，Binance，Bybit，FTX）的數據，並使用綜合技術指標篩選出最佳的買入和賣出點
過去兩年的回測數據有較高機率識別出 BTC 價格的相對高低點
由於此信號是基於期貨市場數據作為左側交易的參考，有時候可能會過早識別出買點或賣點，因此建議您使用小於2倍的槓桿開單。
注意：建議在1hr / 2hr / 4hr 時框使用該指標
這是一個付費指標，免費試用 14 天，如果你想使用這個指標，請直接私訊我的 Tradingview 帳號
Expanded Camarilla LevelsHello Everyone,
The Expanded Camarilla Level s is introduced in the book " Secrets of a Pivot Boss: Revealing Proven Methods for Profiting in the Market " by Franklin Ocho a. I will not write a lot about the book, you should read it for yourself. There are many great ideas in the book, such using these levels, following trend, time price opportunity, Advanced Camarilla Concepts and much more.
The definition/formula of the levels defined in the book. ( actualy L1, L2, H1 and H2 levels are not used in the strategy, so not shown on the chart )
RANGE = highhtf - lowhtf
H5 = (HIGH/ LOW) * CLOSE
H4 = CLOSE + RANGE * 1.1/2
H3 = CLOSE+ RANGE * 1.1/4
H2 = CLOSE+ RANGE * 1.1/6
H1 = CLOSE+ RANGE * 1.1/12
L1 = CLOSE- RANGE * 1.1/12
L2 = CLOSE- RANGE * 1.1/6
L3 = CLOSE- RANGE * 1.1/4
L4 = CLOSE- RANGE * 1.1/2
L5 = CLOSE- (H5 - CLOSE)
Levels:
Strategy: you need to take care of the candles, as you can see there is bearish candle on first part, and Bullish Candle on second part!
Another Strategy:
An Example:
ENJOY!
Scalper Pro Pivot - Scalpers WeaponToday I feel good to share with my all pals a new "Pivot Point" indicator which I never thought that it could be that easily done. I have been trading for years but I am, to be honest, new to pine script. I used to code other programming languages in the past like HTML, CSS, javascript, PHP, etc web-based programming language which luckily helped me to understand pinescript. It was a bit of my history about coding now talking to the main reason why I created this script in the first place? The answer is simple "I mean who the hell don't want to make their own indicators which work to accomplish own goals". There are lots of indicators which I saw in the public library as well as inside build in but, to be honest, I didn't found any pivot point indicator which calculates the "Fibonacci" method. Even if there are hundreds of pivot point indicators out there in public and built-in but they were either in higher timeframe (daily or above resolution) and weren't on a lower timeframe like starting from 1-minute resolution. There are some lower timeframe pivot point indicators but they aren't using the same method of calculation which I wished and if I ever figure out one then they just end up being repaints which didn't work properly as I wanted. The last but not least reason to create this indicator was obviously for all those short term traders (Scalpers) which I believe this indicator will be a game-changer by adding more support on their current trading strategies. It is so flexible that we can change the resolution from 1min to 1month and, to be honest with you all Fibonacci method used pivot points works most of the time with my own years of personal experience using them in higher timeframes and that is mainly one reason why I was eager to make one which can be used in lower timeframes. It will be useful for all types of traders (short-mid-long). The indicator was specially created for my own scalping purposes and indeed at the end, the creation of this indicator became like if I was mean to dedicate this to my fellow scalper's out there who value the pivot point! Lastly, I would like to give credit to pine script who gave support and knowledge for pine script as well as 'LonesomeTheBlue ' my friend who fixed some issue within the code and without him, my imagination wouldn't have been a reality. Inbox me if you are interested in it. Cheers!
