Multi-Step Vegas SuperTrend - strategy [presentTrading]Long time no see! I am back : ) Please allow me to gain some warm-up.
█ Introduction and How it is Different
The "Vegas SuperTrend Strategy" is an enhanced trading strategy that leverages both the Vegas Channel and SuperTrend indicators to generate buy and sell signals.
What sets this strategy apart from others is its dynamic adjustment to market volatility and its multi-step take profit mechanism. Unlike traditional single-step profit-taking approaches, this strategy allows traders to systematically scale out of positions at predefined profit levels, thereby optimizing their risk-reward ratio and maximizing potential gains.
BTCUSD 6hr performance
█ Strategy, How it Works: Detailed Explanation
The Vegas SuperTrend Strategy combines the strengths of the Vegas Channel and SuperTrend indicators to identify market trends and generate trade signals. The following subsections delve into the details of how each component works and how they are integrated.
🔶 Vegas Channel Calculation
The Vegas Channel is based on a simple moving average (SMA) and the standard deviation (STD) of the closing prices over a specified period. The channel is defined by upper and lower bounds that are dynamically adjusted based on market volatility.
Simple Moving Average (SMA):
SMA_vegas = (1/N) * Σ(Close_i) for i = 0 to N-1
where N is the length of the Vegas Window.
Standard Deviation (STD):
STD_vegas = sqrt((1/N) * Σ(Close_i - SMA_vegas)^2) for i = 0 to N-1
Vegas Channel Upper and Lower Bounds:
VegasChannelUpper = SMA_vegas + STD_vegas
VegasChannelLower = SMA_vegas - STD_vegas
The details are here:
🔶 Trend Detection and Trade Signals
The strategy determines the current market trend based on the closing price relative to the SuperTrend bounds:
Market Trend:
MarketTrend = 1 if Close > SuperTrendPrevLower
-1 if Close < SuperTrendPrevUpper
Previous Trend otherwise
Trade signals are generated when there is a shift in the market trend:
Bullish Signal: When the market trend shifts from -1 to 1.
Bearish Signal: When the market trend shifts from 1 to -1.
🔶 Multi-Step Take Profit Mechanism
The strategy incorporates a multi-step take profit mechanism that allows for partial exits at predefined profit levels. This helps in locking in profits gradually and reducing exposure to market reversals.
Take Profit Levels:
The take profit levels are calculated as percentages of the entry price:
TakeProfitLevel_i = EntryPrice * (1 + TakeProfitPercent_i/100) for long positions
TakeProfitLevel_i = EntryPrice * (1 - TakeProfitPercent_i/100) for short positions
Multi-steps take profit local picture:
█ Trade Direction
The trade direction can be customized based on the user's preference:
Long: The strategy only takes long positions.
Short: The strategy only takes short positions.
Both: The strategy can take both long and short positions based on the market trend.
█ Usage
To use the Vegas SuperTrend Strategy, follow these steps:
Configure Input Settings:
- Set the ATR period, Vegas Window length, SuperTrend Multiplier, and Volatility Adjustment Factor.
- Choose the desired trade direction (Long, Short, Both).
- Enable or disable the take profit mechanism and set the take profit percentages and amounts for each step.
█ Default Settings
The default settings of the strategy are designed to provide a balanced approach to trading. Below is an explanation of each setting and its effect on the strategy's performance:
ATR Period (10): This setting determines the length of the ATR used in the SuperTrend calculation. A longer period smoothens the ATR, making the SuperTrend less sensitive to short-term volatility. A shorter period makes the SuperTrend more responsive to recent price movements.
Vegas Window Length (100): This setting defines the period for the Vegas Channel's moving average. A longer window provides a broader view of the market trend, while a shorter window makes the channel more responsive to recent price changes.
SuperTrend Multiplier (5): This base multiplier adjusts the sensitivity of the SuperTrend to the ATR. A higher multiplier makes the SuperTrend less sensitive, reducing the frequency of trade signals. A lower multiplier increases sensitivity, generating more signals.
Volatility Adjustment Factor (5): This factor dynamically adjusts the SuperTrend multiplier based on the width of the Vegas Channel. A higher factor increases the sensitivity of the SuperTrend to changes in market volatility, while a lower factor reduces it.
Take Profit Percentages (3.0%, 6.0%, 12.0%, 21.0%): These settings define the profit levels at which portions of the trade are exited. They help in locking in profits progressively as the trade moves in favor.
Take Profit Amounts (25%, 20%, 10%, 15%): These settings determine the percentage of the position to exit at each take profit level. They are distributed to ensure that significant portions of the trade are closed as the price reaches the set levels, reducing exposure to reversals.
Adjusting these settings can significantly impact the strategy's performance. For instance, increasing the ATR period or the SuperTrend multiplier can reduce the number of trades, potentially improving the win rate but also missing out on some profitable opportunities. Conversely, lowering these values can increase trade frequency, capturing more short-term movements but also increasing the risk of false signals.
Supertrend
Machine Learning Adaptive SuperTrend [AlgoAlpha]📈🤖 Machine Learning Adaptive SuperTrend - Take Your Trading to the Next Level! 🚀✨
Introducing the Machine Learning Adaptive SuperTrend , an advanced trading indicator designed to adapt to market volatility dynamically using machine learning techniques. This indicator employs k-means clustering to categorize market volatility into high, medium, and low levels, enhancing the traditional SuperTrend strategy. Perfect for traders who want an edge in identifying trend shifts and market conditions.
What is K-Means Clustering and How It Works
K-means clustering is a machine learning algorithm that partitions data into distinct groups based on similarity. In this indicator, the algorithm analyzes ATR (Average True Range) values to classify volatility into three clusters: high, medium, and low. The algorithm iterates to optimize the centroids of these clusters, ensuring accurate volatility classification.
Key Features
🎨 Customizable Appearance: Adjust colors for bullish and bearish trends.
🔧 Flexible Settings: Configure ATR length, SuperTrend factor, and initial volatility guesses.
📊 Volatility Classification: Uses k-means clustering to adapt to market conditions.
📈 Dynamic SuperTrend Calculation: Applies the classified volatility level to the SuperTrend calculation.
🔔 Alerts: Set alerts for trend shifts and volatility changes.
📋 Data Table Display: View cluster details and current volatility on the chart.
Quick Guide to Using the Machine Learning Adaptive SuperTrend Indicator
🛠 Add the Indicator: Add the indicator to favorites by pressing the star icon. Customize settings like ATR length, SuperTrend factor, and volatility percentiles to fit your trading style.
📊 Market Analysis: Observe the color changes and SuperTrend line for trend reversals. Use the data table to monitor volatility clusters.
🔔 Alerts: Enable notifications for trend shifts and volatility changes to seize trading opportunities without constant chart monitoring.
How It Works
The indicator begins by calculating the ATR values over a specified training period to assess market volatility. Initial guesses for high, medium, and low volatility percentiles are inputted. The k-means clustering algorithm then iterates to classify the ATR values into three clusters. This classification helps in determining the appropriate volatility level to apply to the SuperTrend calculation. As the market evolves, the indicator dynamically adjusts, providing real-time trend and volatility insights. The indicator also incorporates a data table displaying cluster centroids, sizes, and the current volatility level, aiding traders in making informed decisions.
Add the Machine Learning Adaptive SuperTrend to your TradingView charts today and experience a smarter way to trade! 🌟📊
Trend Strength | Flux Charts💎 GENERAL OVERVIEW
Introducing the new Trend Strength indicator! Latest trends and their strengths play an important role for traders. This indicator aims to make trend and strength detection much easier by coloring candlesticks based on the current strength of trend. More info about the process in the "How Does It Work" section.
Features of the new Trend Strength Indicator :
3 Trend Detection Algorithms Combined (RSI, Supertrend & EMA Cross)
Fully Customizable Algorithm
Strength Labels
Customizable Colors For Bullish, Neutral & Bearish Trends
📌 HOW DOES IT WORK ?
This indicator uses three different methods of trend detection and combines them all into one value. First, the RSI is calculated. The RSI outputs a value between 0 & 100, which this indicator maps into -100 <-> 100. Let this value be named RSI. Then, the Supertrend is calculated. Let SPR be -1 if the calculated Supertrend is bearish, and 1 if it's bullish. After that, latest EMA Cross is calculated. This is done by checking the distance between the two EMA's adjusted by the user. Let EMADiff = EMA1 - EMA2. Then EMADiff is mapped from -ATR * 2 <-> ATR * 2 to -100 <-> 100.
Then a Total Strength (TS) is calculated by given formula : RSI * 0.5 + SPR * 0.2 + EMADiff * 0.3
The TS value is between -100 <-> 100, -100 being fully bearish, 0 being true neutral and 100 being fully bullish.
Then the Total Strength is converted into a color adjusted by the user. The candlesticks in the chart will be presented with the calculated color.
If the Labels setting is enabled, each time the trend changes direction a label will appear indicating the new direction. The latest candlestick will always show the current trend with a label.
EMA = Exponential Moving Average
RSI = Relative Strength Index
ATR = Average True Range
🚩 UNIQUENESS
The main point that differentiates this indicator from others is it's simplicity and customization options. The indicator interprets trend and strength detection in it's own way, combining 3 different well-known trend detection methods: RSI, Supertrend & EMA Cross into one simple method. The algorithm is fully customizable and all styling options are adjustable for the user's liking.
⚙️ SETTINGS
1. General Configuration
Detection Length -> This setting determines the amount of candlesticks the indicator will look for trend detection. Higher settings may help the indicator find longer trends, while lower settings will help with finding smaller trends.
Smoothing -> Higher settings will result in longer periods of time required for trend to change direction from bullish to bearish and vice versa.
EMA Lengths -> You can enter two EMA Lengths here, the second one must be longer than the first one. When the shorter one crosses under the longer one, this will be a bearish sign, and if it crosses above it will be a bullish sign for the indicator.
Labels -> Enables / Disables trend strength labels.
Custom Supertrend Multi-Timeframe Indicator [Pineify]Supertrend Multi-Timeframe Indicator
Introduction
The Supertrend Multi-Timeframe Indicator is an advanced trading tool designed to help traders identify trend directions and potential buy/sell signals by combining Supertrend indicators from multiple timeframes. This script is original in its approach to integrating Supertrend calculations across different timeframes, providing a more comprehensive view of market trends.
Concepts and Calculations
The indicator utilizes the Supertrend algorithm, which is based on the Average True Range (ATR). The Supertrend is a popular tool for trend-following strategies, and this script enhances its capabilities by incorporating data from a larger timeframe.
Supertrend Factor: Determines the sensitivity of the Supertrend line.
ATR Length: Defines the period for calculating the Average True Range.
Larger Supertrend Factor and ATR Length: Applied to the larger timeframe for a broader trend perspective.
Larger Timeframe: The higher timeframe from which the secondary Supertrend data is sourced.
How It Works
The script calculates the Supertrend for the current timeframe using the specified factor and ATR length.
Simultaneously, it requests Supertrend data from a larger timeframe.
Buy and sell signals are generated based on crossovers and crossunders of the Supertrend lines from both timeframes.
Visual cues (up and down arrows) are plotted on the chart to indicate buy and sell signals.
Background colors change to reflect the trend direction: green for an uptrend and red for a downtrend.
Usage
Add the indicator to your TradingView chart.
Customize the Supertrend factors, ATR lengths, and larger timeframe according to your trading strategy.
Enable or disable buy and sell alerts as needed.
Monitor the chart for visual signals and background color changes to make informed trading decisions.
Note: The indicator is best used in conjunction with other technical analysis tools and should not be relied upon as the sole basis for trading decisions.
Conclusion
The Supertrend Multi-Timeframe Indicator offers a unique and powerful way to analyze market trends by leveraging the strengths of the Supertrend algorithm across multiple timeframes. Its customizable settings and clear visual signals make it a valuable addition to any trader's toolkit.
Candlestick Structure [LuxAlgo]The Candlestick Structure indicator detects major market trends and displays various candlestick patterns aligning with the detected trend, filtering out potentially unwanted patterns as a result. Multiple trend detection methods are included and can be selected by the users.
A dashboard showing the alignment percentage of each individual pattern is also provided.
🔶 USAGE
By distinguishing major and minor trend detection, we can still detect patterns based on minor trends, yet filter out the patterns that do not align with the major trend.
By detecting candlestick patterns that align with a major trend, we can effectively detect the ending points of retracements, potentially providing various entry points of interest within a trend.
Users are able to track the alignment of each candlestick pattern in the dashboard to reveal which patterns typically align with the trend and which may not.
Note: Alignment % only checks if the pattern's direction is the same as the current trend direction. These are only raw readings and not any type of confidence score.
🔶 DETAILS
In this indicator, we are identifying and tracking 16 different Candlestick Patterns.
🔹 Bullish Patterns
Hammer: Identified by a small upper wick (or no upper wick) with a small body, and an elongated lower wick whose length is 2X greater than the candle body’s width.
Inverted Hammer: Identified by a small lower wick (or no lower wick) with a small body, and an elongated upper wick whose length is 2X greater than the candle body’s width.
Bullish Engulfing: A 2 bar pattern identified by a large bullish candle body fully encapsulating (opening lower and closing higher) the previous small (bearish) candle body.
Rising 3: A 5 bar pattern identified by an initial full-bodied bullish candle, followed by 3 bearish candles that trade within the high and low of the initial candle, followed by another full-bodied bullish candle closing above the high of the initial candle.
3 White Soldiers: Identified by 3 full-bodied bullish candles, each opening within the body and closing below the high, of the previous candle.
Morning Star: A 3 bar pattern identified by a full-bodied bearish candle, followed by a small-bodied bearish candle, followed by a full-bodied bullish candle that closes above the halfway point of the first candle.
Bullish Harami: A 2 bar pattern, identified by an initial bearish candle, followed by a small bullish candle whose range is entirely contained within the body of the initial candle.
Tweezer Bottom: A 2 bar pattern identified by an initial bearish candle, followed by a bullish candle, both having equal lows.
🔹 Bearish Patterns
Hanging Man: Identified by a small upper wick (or no upper wick) with a small body, and an elongated lower wick whose length is 2X greater than the candle body’s width.
Shooting Star: Identified by a small lower wick (or no lower wick) with a small body, and an elongated upper wick whose length is 2X greater than the candle body’s width.
Bearish Engulfing: A 2 bar pattern identified by a large bearish candle body fully encapsulating (opening higher and closing lower) the previous small (bullish) candle body.
Falling 3: A 5 bar pattern identified by an initial full-bodied bearish candle, followed by 3 bullish candles that trade within the high and low of the initial candle, followed by another full-bodied bearish candle closing below the low of the initial candle.
3 Black Crows: Identified by 3 full-bodied bearish candles, each open within the body and closing below the low, of the previous candle.
Evening Star: A 3 bar pattern identified by a full-bodied bullish candle, followed by a small-bodied bullish candle, followed by a full-bodied bearish candle that closes below the halfway point of the first candle.
Bearish Harami: A 2 bar pattern, identified by an initial bullish candle, followed by a small bearish candle whose range is entirely contained within the body of the initial candle.
Tweezer Top: A 2 bar pattern identified by an initial bullish candle, followed by a bearish candle, both having equal highs.
🔹 Trend Types
Major trend is displayed at all times, the display will change depending on the trend method selected.
The minor trend can also be visualized; to avoid confusion, the minor trend can optionally be displayed through the candle colors.
Supertrend: Displays Upper and Lower SuperTrend, When we break above the upper, it is considered an Uptrend. When we break below the lower, it is considered a Downtrend.
EMAs: Displays Fast and Slow EMAs, When Fast>Slow, it is considered an Uptrend. When Fast<Slow, it is considered a Downtrend.
ChoCh: Displays ChoCh Lines and Labels, When a Bullish ChoCh occurs, it is now considered as an Uptrend. When a Bearish ChoCh occurs, it is now considered a Downtrend.
Donchian Channel: Displays the Highest and Lowest Values, When we break above the Highest, it is considered an Uptrend. When we break below the Lowest, it is considered a Downtrend.
Below is an example of the Change of Character (ChoCh) method of trend detection.
Note: In this description, each screenshot has a different trend method in use, scroll through if you are looking for a specific one.
🔶 SETTINGS
Candlestick Patterns: Choose which candlestick patterns to include in calculations.
Minor Trend Length: Determines the Donchian Channel length to use for minor trend identification.
Major Trend Method: Determines which trend method to use for identifying Major Trend.
Major Trend Parameters: Various inputs for controlling Major trends, depending on the specific method you have selected.
Color Candles: Colors the chart candles based on minor trend.
Dashboard: Control display size and location of Alignment Dashboard.
TSI w SuperTrend decision - Strategy [presentTrading]This strategy aims to improve upon the performance of Traidngview's newly published "Trend Strength Index" indicator by incorporating the SuperTrend for better trade execution and risk management. Enjoy :)
█ Introduction and How it is Different
The "TSI with SuperTrend Decision - Strategy" combines the Trend Strength Index (TSI) with SuperTrend indicators to determine entry and exit points. Unlike traditional strategies that rely solely on one indicator, this method leverages the strengths of both TSI and SuperTrend to provide a more nuanced and adaptive trading strategy.
This dual approach allows for capturing trends more effectively, especially in volatile markets.
BTCUSD 8h LS Performance
█ Strategy, How it Works: Detailed Explanation
🔶 Trend Strength Index (TSI)
The TSI is a momentum oscillator that shows both the direction and strength of a trend. It is calculated by comparing the price movement with the bar index over a specified period. The formula for TSI is as follows:
```
TSI = (PC / |PC|)
where:
PC = Change in price over the period
```
In this strategy, TSI is calculated using the closing prices and a default period of 64 bars. The TSI values help identify overbought and oversold conditions, providing signals for potential market reversals.
🔶 SuperTrend Indicator
The SuperTrend is a trend-following indicator based on the average true range (ATR). It helps in identifying the direction of the market trend. The SuperTrend calculation involves:
```
SuperTrend = HLC3 ± (Factor * ATR)
where:
HLC3 = (High + Low + Close) / 3
Factor = User-defined multiplier
ATR = Average True Range over a period
```
The SuperTrend settings in this strategy include a length of 10 bars and a factor of 3.0.
Last Bull Cycle of BTC
🔶 Entry and Exit Conditions
The strategy uses the TSI and SuperTrend together to determine entry and exit points:
- Long Entry: When the SuperTrend indicates a downward trend (st.d < 0) and the TSI is above the oversold level (-0.241).
- Long Exit: When the SuperTrend indicates an upward trend (st.d > 0) and the TSI is below the overbought level (0.241).
- Short Entry: When the SuperTrend indicates an upward trend (st.d > 0) and the TSI is below the overbought level (0.241).
- Short Exit: When the SuperTrend indicates a downward trend (st.d < 0) and the TSI is above the oversold level (-0.241).
█ Trade Direction
The strategy allows users to select the trade direction through the `tradeDirection` input. The options are:
- Both: Enables both long and short trades.
- Long: Enables only long trades.
- Short: Enables only short trades.
█ Default Settings
- TSI Length: 64
- SuperTrend Length: 10
- SuperTrend Factor: 3.0
- Trade Direction: Both
- Take Profit (%): 30.0
- Stop Loss (%): 20.0
Impact of Default Settings
- TSI Length: A longer TSI period smooths out noise but may lag in identifying trends. A shorter period is more responsive but can generate false signals.
- SuperTrend Length: A shorter length provides quicker signals but can be prone to whipsaws. A longer length is more reliable but may delay entries and exits.
- SuperTrend Factor: A higher factor increases the distance of the SuperTrend from the price, reducing sensitivity to minor price fluctuations.
- Trade Direction: Allows flexibility in trading strategies by enabling both long and short trades based on market conditions.
- Take Profit and Stop Loss: These settings manage risk by automatically closing trades at predefined profit or loss levels. Higher percentages provide larger potential gains but also higher risk.
SuperThreeThe SuperThree is a comprehensive technical indicator designed to identify and visualize market trends and counter-trend momentum in trading. It uses a unique color-coding system to represent different market conditions and potential trading opportunities.
Uptrend (Green Fill) : This is indicated by a green fill. An uptrend is a period where prices are increasing overall, suggesting a strong market. It’s an ideal time for traders to consider entering long positions or exiting short positions.
Downtrend (Red Fill) : This is represented by a red fill. A downtrend is a period where prices are decreasing overall, indicating a bearish market. Traders might consider entering short positions or exiting long positions during this phase.
Sideways Trend (Blue Fill) : This is shown by a blue fill. A sideways trend, also known as a horizontal trend, is when the price is relatively stable and not making significant upward or downward movements. It’s often a period of consolidation before the price moves up or down.
Counter-Trend Momentum (Blue Arrows) : Blue arrows indicate counter-trend momentum, which can be a signal to exit trades or look for potential trend reversals. These are crucial points where the market’s momentum is shifting and may be about to move in the opposite direction.
The SuperThree indicator is an enhancement of the Supertrend indicator, providing additional features and visual cues to help traders make informed decisions. However, like all indicators, it should be used in conjunction with other forms of analysis to confirm signals and avoid potential false positives. Always consider your risk tolerance and investment goals before making trading decisions.
Happy trading! 😊
Strategic Multi-Step Supertrend - Strategy [presentTrading]The code is mainly developed for me to stimulate the multi-step taking profit function for strategies. The result shows the drawdown can be reduced but at the same time reduced the profit as well. It can be a heuristic for futures leverage traders.
█ Introduction and How it is Different
The "Strategic Multi-Step Supertrend" is a trading strategy designed to leverage the power of multiple steps to optimize trade entries and exits across the Supertrend indicator. Unlike traditional strategies that rely on single entry and exit points, this strategy employs a multi-step approach to take profit, allowing traders to lock in gains incrementally. Additionally, the strategy is adaptable to both long and short trades, providing a comprehensive solution for dynamic market conditions.
This template strategy lies in its dual Supertrend calculation, which enhances the accuracy of trend detection and provides more reliable signals for trade entries and exits. This approach minimizes false signals and increases the overall profitability of trades by ensuring that positions are entered and exited at optimal points.
BTC 6h L/S Performance
█ Strategy, How It Works: Detailed Explanation
The "Strategic Multi-Step Supertrend Trader" strategy utilizes two Supertrend indicators calculated with different parameters to determine the direction and strength of the market trend. This dual approach increases the robustness of the signals, reducing the likelihood of entering trades based on false signals. Here is a detailed breakdown of how the strategy operates:
🔶 Supertrend Indicator Calculation
The Supertrend indicator is a trend-following overlay on the price chart, typically used to identify the direction of the trend. It is calculated using the Average True Range (ATR) to ensure that the indicator adapts to market volatility. The formula for the Supertrend indicator is:
Upper Band = (High + Low) / 2 + (Factor * ATR)
Lower Band = (High + Low) / 2 - (Factor * ATR)
Where:
- High and Low are the highest and lowest prices of the period.
- Factor is a user-defined multiplier.
- ATR is the Average True Range over a specified period.
The Supertrend changes its direction based on the closing price in relation to these bands.
🔶 Entry-Exit Conditions
The strategy enters long positions when both Supertrend indicators signal an uptrend, and short positions when both indicate a downtrend. Specifically:
- Long Condition: Supertrend1 < 0 and Supertrend2 < 0
- Short Condition: Supertrend1 > 0 and Supertrend2 > 0
- Long Exit Condition: Supertrend1 > 0 and Supertrend2 > 0
- Short Exit Condition: Supertrend1 < 0 and Supertrend2 < 0
🔶 Multi-Step Take Profit Mechanism
The strategy features a multi-step take profit mechanism, which allows traders to lock in profits incrementally. This is achieved through four user-configurable take profit levels. For each level, the strategy specifies a percentage increase (for long trades) or decrease (for short trades) in the entry price at which a portion of the position is exited:
- Step 1: Exit a portion of the trade at Entry Price * (1 + Take Profit Percent1 / 100)
- Step 2: Exit a portion of the trade at Entry Price * (1 + Take Profit Percent2 / 100)
- Step 3: Exit a portion of the trade at Entry Price * (1 + Take Profit Percent3 / 100)
- Step 4: Exit a portion of the trade at Entry Price * (1 + Take Profit Percent4 / 100)
This staggered exit strategy helps in locking profits at multiple levels, thereby reducing risk and increasing the likelihood of capturing the maximum possible profit from a trend.
BTC Local
█ Trade Direction
The strategy is highly flexible, allowing users to specify the trade direction. There are three options available:
- Long Only: The strategy will only enter long trades.
- Short Only: The strategy will only enter short trades.
- Both: The strategy will enter both long and short trades based on the Supertrend signals.
This flexibility allows traders to adapt the strategy to various market conditions and their own trading preferences.
█ Usage
1. Add the strategy to your trading platform and apply it to the desired chart.
2. Configure the take profit settings under the "Take Profit Settings" group.
3. Set the trade direction under the "Trade Direction" group.
4. Adjust the Supertrend settings in the "Supertrend Settings" group to fine-tune the indicator calculations.
5. Monitor the chart for entry and exit signals as indicated by the strategy.
█ Default Settings
- Use Take Profit: True
- Take Profit Percentages: Step 1 - 6%, Step 2 - 12%, Step 3 - 18%, Step 4 - 50%
- Take Profit Amounts: Step 1 - 12%, Step 2 - 8%, Step 3 - 4%, Step 4 - 0%
- Number of Take Profit Steps: 3
- Trade Direction: Both
- Supertrend Settings: ATR Length 1 - 10, Factor 1 - 3.0, ATR Length 2 - 11, Factor 2 - 4.0
These settings provide a balanced starting point, which can be customized further based on individual trading preferences and market conditions.
Market Sentiment Technicals [LuxAlgo]The Market Sentiment Technicals indicator synthesizes insights from diverse technical analysis techniques, including price action market structures, trend indicators, volatility indicators, momentum oscillators, and more.
The indicator consolidates the evaluated outputs from these techniques into a singular value and presents the combined data through an oscillator format, technical rating, and a histogram panel featuring the sentiment of each component alongside the overall sentiment.
🔶 USAGE
The Market Sentiment Technicals indicator is a tool able to swiftly and easily gauge market sentiment by consolidating the individual sentiment from multiple technical analysis techniques applied to market data into a single value, allowing users to asses if the market is uptrending, consolidating, or downtrending.
The tool includes various components and presentation formats, each described in the sub-sections below.
🔹Indicators Sentiment Panel
The indicators sentiment panel provides normalized sentiment scores for each supported indicator, along with a synthesized representation derived from the average of all individual normalized sentiments.
🔹Market Sentiment Meter
The market sentiment meter is obtained from the synthesized representation derived from the average of all individual normalized sentiments. It allows users to quickly and easily gauge the overall market sentiment.
🔹Market Sentiment Oscillator
The market sentiment oscillator provides a visual means to monitor the current and historical strength of the market. It assists in identifying the trend direction, trend momentum, and overbought and oversold conditions, aiding in the anticipation of potential trend reversals.
Divergence occurs when there is a difference between what the price action is indicating and what the market sentiment oscillator is indicating, helping traders assess changes in the price trend.
🔶 DETAILS
The indicator employs a range of technical analysis techniques to interpret market data. Each group of indicators provides valuable insights into different aspects of market behavior.
🔹Momentum Indicators
Momentum indicators assess the speed and change of price movements, often indicating whether a trend is strengthening or weakening.
Relative Strength Index (RSI): Measures the magnitude of recent price changes to evaluate overbought or oversold conditions.
Stochastic %K: Compares the closing price to the range over a specified period to identify potential reversal points.
Stochastic RSI Fast: Combines features of Stochastic oscillators and RSI to gauge both momentum and overbought/oversold levels efficiently.
Commodity Channel Index (CCI): Measures the deviation of an asset's price from its statistical average to determine trend strength and overbought and oversold conditions.
Bull Bear Power: Evaluates the strength of buying and selling pressure in the market.
🔹Trend Indicators
Trend indicators help traders identify the direction of a market trend.
Moving Averages: Provides a smoothed representation of the underlying price data, aiding in trend identification and analysis.
Bollinger Bands: Consists of a middle band (typically a simple moving average) and upper and lower bands, which represent volatility levels of the market.
Supertrend: A trailing stop able to identify the current direction of the trend.
Linear Regression: Fits a straight line to past data points to predict future price movements and identify trend direction.
🔹Market Structures
Market Structures: Analyzes the overall pattern of price movements, including Break of Structure (BOS), Market Structure Shifts (MSS), also referred to as Change of Character (CHoCH), aiding in identifying potential market turning and continuation points.
🔹The Normalization Technique
The normalization technique employed for trend indicators relies on buy-sell signals. The script tracks price movements and normalizes them based on these signals.
normalize(buy, sell, smooth)=>
var os = 0
var float max = na
var float min = na
os := buy ? 1 : sell ? -1 : os
max := os > os ? close : os < os ? max : math.max(close, max)
min := os < os ? close : os > os ? min : math.min(close, min)
ta.sma((close - min)/(max - min), smooth) * 100
In this Pine Script snippet:
The variable os tracks market sentiment, taking a value of 1 for buy signals and -1 for sell signals, indicating bullish and bearish sentiments, respectively.
max and min are used to identify extremes in sentiment and are updated based on changes in os . When market sentiment shifts from buying to selling (or vice versa), max and min adjust accordingly.
Normalization is achieved by comparing current price levels to historical extremes in sentiment. The result is smoothed by default using a 3-period simple moving average. Users have the option to customize the smoothing period via the script settings input menu.
🔶 SETTINGS
🔹Generic Settings
Timeframe: This option selects the timeframe for calculating sentiment. If a timeframe lower than the chart's is chosen, calculations will be based on the chart's timeframe.
Horizontal Offset: Determines the distance at which the visual components of the indicator will be displayed from the primary chart.
Gradient Colors: Allows customization of gradient colors.
🔹Indicators Sentiment Panel
Indicators Sentiment Panel: Toggle the visibility of the indicators sentiment panel.
Panel Height: Determines the height of the panel.
🔹Market Sentiment Meter
Market Sentiment Meter: Toggle the visibility of the market sentiment meter (technical ratings in the shape of a speedometer).
🔹Market Sentiment Oscillator
Market Sentiment Oscillator: Toggle the visibility of the market sentiment oscillator.
Show Divergence: Enables detection of divergences based on the selected option.
Oscillator Line Width: Customization option for the line width.
Oscillator Height: Determines the height of the oscillator.
🔹Settings for Individual Components
In general,
Source: Determines the data source for calculations.
Length: The period to be used in calculations.
Smoothing: Degree of smoothness of the evaluated values.
🔹Normalization Settings - Trend Indicators
Smoothing: The period used in smoothing normalized values, where normalization is applied to moving averages, Bollinger Bands, Supertrend, VWAP bands, and market structures.
🔶 LIMITATIONS
Like any technical analysis tool, the Market Sentiment Technicals indicator has limitations. It's based on historical data and patterns, which may not always accurately predict future market movements. Additionally, market sentiment can be influenced by various factors, including economic news, geopolitical events, and market psychology, which may not be fully captured by technical analysis alone.
Supertrend + BB + Consecutive Candles + QQE + EMA [Pineify]Overview
This indicator, developed by Pineify, is a comprehensive tool designed to assist traders in making informed decisions by combining multiple technical analysis methods. It integrates Supertrend, Bollinger Bands (BB), Consecutive Candles, Quantitative Qualitative Estimation (QQE), and Exponential Moving Averages (EMA) into a single, cohesive script. This multi-faceted approach allows traders to analyze market trends, volatility, and potential buy/sell signals with greater accuracy.
Key Features
1. Supertrend: Utilizes the Supertrend indicator to identify the prevailing market trend. It provides clear buy and sell signals based on the direction of the trend.
2. Bollinger Bands (BB): Measures market volatility and identifies overbought or oversold conditions. The script calculates the middle, upper, and lower bands, along with the Bollinger Band Width (BBW) and Bollinger Band %B (BBR).
3. Consecutive Candles: Detects sequences of consecutive bullish or bearish candles, providing signals when a specified number of consecutive candles are detected.
4. Quantitative Qualitative Estimation (QQE): Combines the Relative Strength Index (RSI) with a smoothing factor to generate buy and sell signals based on the QQE methodology.
5. Exponential Moving Averages (EMA): Includes both fast and slow EMAs to identify potential crossovers, which are used as buy and sell signals.
How It Works
- Supertrend: The Supertrend indicator is calculated using a factor and ATR length. It plots the trend direction and generates buy/sell signals when the trend changes.
- Bollinger Bands: The BB indicator calculates the middle band as a Simple Moving Average (SMA) of the closing prices. The upper and lower bands are derived by adding and subtracting a multiple of the standard deviation from the middle band.
- Consecutive Candles: This feature counts the number of consecutive candles that close higher or lower than the previous candle. When the count reaches a specified threshold, it generates a buy or sell signal.
- QQE: The QQE indicator smooths the RSI values and calculates the QQE Fast and QQE Slow lines. Buy and sell signals are generated based on the crossover of these lines.
- EMA: The script calculates fast and slow EMAs and generates buy/sell signals based on their crossovers.
How to Use
1. Inputs: Customize the indicator settings through the input parameters:
- Supertrend Factor and ATR Length
- BB Length
- Consecutive Candles Counting
- QQE RSI Length
- Fast and Slow EMA Lengths
- Enable/Disable Alerts for various signals
2. Alerts: Set up alerts for Supertrend, Consecutive Candles, and EMA crossovers. Alerts can be enabled or disabled based on user preference.
3. Visualization: The indicator plots the Supertrend, Bollinger Bands, and EMA lines on the chart. It also marks buy and sell signals with arrows and labels for easy identification.
Concepts Underlying Calculations
- Supertrend: Based on the Average True Range (ATR) to determine the trend direction and potential reversal points.
- Bollinger Bands: Utilizes standard deviation to measure market volatility and identify overbought/oversold conditions.
- Consecutive Candles: A method to detect momentum by counting consecutive bullish or bearish candles.
- QQE: Enhances the traditional RSI by smoothing it and using a dynamic threshold to generate signals.
- EMA: A widely used moving average that gives more weight to recent prices, making it responsive to market changes.
This indicator is a powerful tool for traders looking to combine multiple technical analysis methods into a single, easy-to-use script. By integrating these diverse techniques, it provides a comprehensive view of market conditions and potential trading opportunities.
BBTrend w SuperTrend decision - Strategy [presentTrading]This strategy aims to improve upon the performance of Traidngview's newly published "BB Trend" indicator by incorporating the SuperTrend for better trade execution and risk management. Enjoy :)
█Introduction and How it is Different
The "BBTrend w SuperTrend decision - Strategy " is a trading strategy designed to identify market trends using Bollinger Bands and SuperTrend indicators. What sets this strategy apart is its use of two Bollinger Bands with different lengths to capture both short-term and long-term market trends, providing a more comprehensive view of market dynamics. Additionally, the strategy includes customizable take profit (TP) and stop loss (SL) settings, allowing traders to tailor their risk management according to their preferences.
BTCUSD 4h Long Performance
█ Strategy, How It Works: Detailed Explanation
The BBTrend strategy employs two key indicators: Bollinger Bands and SuperTrend.
🔶 Bollinger Bands Calculation:
- Short Bollinger Bands**: Calculated using a shorter period (default 20).
- Long Bollinger Bands**: Calculated using a longer period (default 50).
- Bollinger Bands use the standard deviation of price data to create upper and lower bands around a moving average.
Upper Band = Middle Band + (k * Standard Deviation)
Lower Band = Middle Band - (k * Standard Deviation)
🔶 BBTrend Indicator:
- The BBTrend indicator is derived from the absolute differences between the short and long Bollinger Bands' lower and upper values.
BBTrend = (|Short Lower - Long Lower| - |Short Upper - Long Upper|) / Short Middle * 100
🔶 SuperTrend Indicator:
- The SuperTrend indicator is calculated using the average true range (ATR) and a multiplier. It helps identify the market trend direction by plotting levels above and below the price, which act as dynamic support and resistance levels. * @EliCobra makes the SuperTrend Toolkit. He is GOAT.
SuperTrend Upper = HL2 + (Factor * ATR)
SuperTrend Lower = HL2 - (Factor * ATR)
The strategy determines market trends by checking if the close price is above or below the SuperTrend values:
- Uptrend: Close price is above the SuperTrend lower band.
- Downtrend: Close price is below the SuperTrend upper band.
Short: 10 Long: 20 std 2
Short: 20 Long: 40 std 2
Short: 20 Long: 40 std 4
█ Trade Direction
The strategy allows traders to choose their trading direction:
- Long: Enter long positions only.
- Short: Enter short positions only.
- Both: Enter both long and short positions based on market conditions.
█ Usage
To use the "BBTrend - Strategy " effectively:
1. Configure Inputs: Adjust the Bollinger Bands lengths, standard deviation multiplier, and SuperTrend settings.
2. Set TPSL Conditions: Choose the take profit and stop loss percentages to manage risk.
3. Choose Trade Direction: Decide whether to trade long, short, or both directions.
4. Apply Strategy: Apply the strategy to your chart and monitor the signals for potential trades.
█ Default Settings
The default settings are designed to provide a balance between sensitivity and stability:
- Short BB Length (20): Captures short-term market trends.
- Long BB Length (50): Captures long-term market trends.
- StdDev (2.0): Determines the width of the Bollinger Bands.
- SuperTrend Length (10): Period for calculating the ATR.
- SuperTrend Factor (12): Multiplier for the ATR to adjust the SuperTrend sensitivity.
- Take Profit (30%): Sets the level at which profits are taken.
- Stop Loss (20%): Sets the level at which losses are cut to manage risk.
Effect on Performance
- Short BB Length: A shorter length makes the strategy more responsive to recent price changes but can generate more false signals.
- Long BB Length: A longer length provides smoother trend signals but may be slower to react to price changes.
- StdDev: Higher values create wider bands, reducing the frequency of signals but increasing their reliability.
- SuperTrend Length and Factor: Shorter lengths and higher factors make the SuperTrend more sensitive, providing quicker signals but potentially more noise.
- Take Profit and Stop Loss: Adjusting these levels affects the risk-reward ratio. Higher take profit percentages can increase gains but may result in fewer closed trades, while higher stop loss percentages can decrease the likelihood of being stopped out but increase potential losses.
Double Vegas SuperTrend Enhanced - Strategy [presentTrading]
█ Introduction and How It Is Different
The "Double Vegas SuperTrend Enhanced" strategy is a sophisticated trading system that combines two Vegas SuperTrend Enhanced. Very Powerful!
Let's celebrate the joy of Children's Day on June 1st! Enjoyyy!
BTCUSD LS performance
The strategy aims to pinpoint market trends with greater accuracy and generate trades that align with the overall market direction.
This approach differentiates itself by integrating volatility adjustments and leveraging the Vegas Channel's width to refine the SuperTrend calculations, resulting in a dynamic and responsive trading system.
Additionally, the strategy incorporates customizable take-profit and stop-loss levels, providing traders with a robust framework for risk management.
-> check Vegas SuperTrend Enhanced - Strategy
█ Strategy, How It Works: Detailed Explanation
🔶 Vegas Channel and SuperTrend Calculations
The strategy initiates by calculating the Vegas Channel, which is derived from a simple moving average (SMA) and the standard deviation (STD) of the closing prices over a specified window length. This channel helps in measuring market volatility and forms the basis for adjusting the SuperTrend indicator.
Vegas Channel Calculation:
- vegasMovingAverage = SMA(close, vegasWindow)
- vegasChannelStdDev = STD(close, vegasWindow)
- vegasChannelUpper = vegasMovingAverage + vegasChannelStdDev
- vegasChannelLower = vegasMovingAverage - vegasChannelStdDev
SuperTrend Multiplier Adjustment:
- channelVolatilityWidth = vegasChannelUpper - vegasChannelLower
- adjustedMultiplier = superTrendMultiplierBase + volatilityAdjustmentFactor * (channelVolatilityWidth / vegasMovingAverage)
The adjusted multiplier enhances the SuperTrend's sensitivity to market volatility, making it more adaptable to changing market conditions.
BTCUSD Local picture.
🔶 Average True Range (ATR) and SuperTrend Values
The ATR is computed over a specified period to measure market volatility. Using the ATR and the adjusted multiplier, the SuperTrend upper and lower levels are determined.
ATR Calculation:
- averageTrueRange = ATR(atrPeriod)
**SuperTrend Calculation:**
- superTrendUpper = hlc3 - (adjustedMultiplier * averageTrueRange)
- superTrendLower = hlc3 + (adjustedMultiplier * averageTrueRange)
The SuperTrend levels are continuously updated based on the previous values and the current market trend direction. The market trend is determined by comparing the closing prices with the SuperTrend levels.
Trend Direction:
- If close > superTrendLowerPrev, then marketTrend = 1 (bullish)
- If close < superTrendUpperPrev, then marketTrend = -1 (bearish)
🔶 Trade Entry and Exit Conditions
The strategy generates trade signals based on the alignment of both SuperTrends. Trades are executed only when both SuperTrends indicate the same market direction.
Entry Conditions:
- Long Position: Both SuperTrends must signal a bullish trend.
- Short Position: Both SuperTrends must signal a bearish trend.
Exit Conditions:
- Positions are exited if either SuperTrend reverses its trend direction.
- Additional conditions include holding periods and configurable take-profit and stop-loss levels.
█ Trade Direction
The strategy allows traders to specify the desired trade direction through a customizable input setting. Options include:
- Long: Only enter long positions.
- Short: Only enter short positions.
- Both: Enter both long and short positions based on the market conditions.
█ Usage
To utilize the "Double Vegas SuperTrend Enhanced" strategy, traders need to configure the input settings according to their trading preferences and market conditions. The strategy includes parameters for ATR periods, Vegas Channel window lengths, SuperTrend multipliers, volatility adjustment factors, and risk management settings such as hold days, take-profit, and stop-loss percentages.
█ Default Settings
The strategy comes with default settings that can be adjusted to fit individual trading styles:
- trade Direction: Both (allows trading in both long and short directions for maximum flexibility).
- ATR Periods: 10 for SuperTrend 1 and 5 for SuperTrend 2 (shorter ATR period results in more sensitivity to recent price movements).
- Vegas Window Lengths: 100 for SuperTrend 1 and 200 for SuperTrend 2 (longer window length results in smoother moving averages and less sensitivity to short-term volatility).
- SuperTrend Multipliers: 5 for SuperTrend 1 and 7 for SuperTrend 2 (higher multipliers lead to wider SuperTrend channels, reducing the frequency of trades).
- Volatility Adjustment Factors: 5 for SuperTrend 1 and 7 for SuperTrend 2 (higher adjustment factors increase the responsiveness to changes in market volatility).
- Hold Days: 5 (defines the minimum duration a position is held, ensuring trades are not exited prematurely).
- Take Profit: 30% (sets the target profit level to lock in gains).
- Stop Loss: 20% (sets the maximum acceptable loss level to mitigate risk).
Multi-Chart Widget [LuxAlgo]The Multi-Chart Widget tool is a comprehensive solution crafted for traders and investors looking to analyze multiple financial instruments simultaneously. With the capability to showcase up to three additional charts, users can customize each chart by selecting different financial instruments, and timeframes.
Users can add various widely used technical indicators to the charts such as the relative strength index, Supertrend, moving averages, Bollinger Bands...etc.
🔶 USAGE
The tool offers traders and investors a comprehensive view of multiple charts simultaneously. By displaying up to three additional charts alongside the primary chart, users can analyze assets across different timeframes, compare their performance, and make informed decisions.
Users have the flexibility to choose from various customizable chart types, including the recently added "Volume Candles" option.
This tool allows adding to the chart some of the most widely used technical indicators, such as the Supertrend, Bollinger Bands, and various moving averages.
In addition to the charting capabilities, the tool also features a dynamic statistic panel that provides essential metrics and key insights into the selected assets. Users can track performance indicators such as relative strength, trend, and volatility, enabling them to identify trends, patterns, and trading opportunities efficiently.
🔶 DETAILS
A brief overview of the indicators featured in the statistic panel is given in the sub-section below:
🔹Dual Supertrend
The Dual Supertrend is a modified version of the Supertrend indicator, which is based on the concept of trend following. It generates buy or sell signals by analyzing the asset's price movement. The Dual Supertrend incorporates two Supertrend indicators with different parameters to provide potentially more accurate signals. It helps traders identify trend reversals and establish trend direction in a more responsive manner compared to a single Supertrend.
🔹Relative Strength Index
The Relative Strength Index is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between 0 and 100 and is typically used to identify overbought or oversold conditions in a market. Traditionally, RSI values above 70 are considered overbought, suggesting that the asset may be due for a reversal or correction, while RSI values below 30 are considered oversold, indicating potential buying opportunities.
🔹Volatility
Volatility in trading refers to the degree of variation or fluctuation in the price of a financial instrument, such as a stock, currency pair, or commodity, over a certain period of time. It is a measure of the speed and magnitude of price changes and reflects the level of uncertainty or risk in the market. High volatility implies that prices are experiencing rapid and significant movements, while low volatility suggests that prices are relatively stable and are not changing much. Traders often use volatility as an indicator to assess the potential risk and return of an investment and to make informed decisions about when to enter or exit trades.
🔹R-Squared (R²)
R-squared, also known as the coefficient of determination, is a statistical measure that indicates the proportion of the variance in the dependent variable that is predictable from the independent variable(s). In other words, it quantifies the goodness of fit of a regression model to the observed data. R-squared values range from %0 to %100, with higher values indicating a better fit of the model to the data. An R-squared of 100% means that all movements of a security are completely explained by movements in the index, while an R-squared value of %0 indicates that the model does not explain any of the variability in the dependent variable.
In simpler terms, in investing, a high R-squared, from 85% to 100%, indicates that the stock’s or fund’s performance moves relatively in line with the index. Conversely, a low R-squared (around 70% or less) indicates that the fund's performance tends to deviate significantly from the movements of the index.
🔶 SETTINGS
🔹Mini Chart(s) Generic Settings
Mini Charts Separator: This option toggles the visibility of the separator lines.
Number Of Bars: Specifies the number of bars to be displayed for each mini chart.
Horizontal Offset: Determines the distance at which the mini charts will be displayed from the primary chart.
🔹Mini Chart Settings: Top - Middle - Bottom
Mini Chart Top/Middle/Bottom: Toggle the visibility of the selected mini chart.
Symbol: Choose the financial instrument to be displayed in the mini chart. If left as an empty string, it will default to the current chart instrument.
Timeframe: This option determines the timeframe used for calculating the mini charts. If a timeframe lower than the chart's timeframe is selected, the calculations will be based on the chart's timeframe.
Chart Type: Selection from various chart types for the mini charts, including candles, volume candles, line, area, columns, high-low, and Heikin Ashi.
Chart Size: Determines the size of the mini chart.
Technical Indicator: Selection from various technical indicators to be displayed on top of the mini charts.
Note : Chart sizing is relative to other mini charts. For example, If all the mini charts are sized to x5 relative to each other, the result will be the same as if they were all sized as x1. This is because the relative proportions between the mini charts remain consistent regardless of their absolute sizes. Therefore, their positions and sizes relative to each other remain unchanged, resulting in the same visual representation despite the differences in absolute scale.
🔹Supertrend Settings
ATR Length: is the lookback length for the ATR calculation.
Factor: is what the ATR is multiplied by to offset the bands from price.
Color: color customization option.
🔹Moving Average Settings
Type: is the type of the moving average, available types of moving averages include SMA (Simple Moving Average), EMA (Exponential Moving Average), RMA (Root Mean Square Moving Average), HMA (Hull Moving Average), WMA (Weighted Moving Average), and VWMA (Volume Weighted Moving Average).
Source: Determines what data from each bar will be used in calculations.
Length: The time period to be used in calculating the Moving Average.
Color: Color customization option.
🔹Bollinger Bands Settings
Basis Type: Determines the type of Moving Average that is applied to the basis plot line.
Source: Determines what data from each bar will be used in calculations.
Length: The time period to be used in calculating the Moving Average which creates the base for the Upper and Lower Bands.
StdDev: The number of Standard Deviations away from the Moving Average that the Upper and Lower Bands should be.
Color: Color customization options for basis, upper and lower bands.
🔹Mini Chart(s) Panel Settings
Mini Chart(s) Panel: Controls the visibility of the panel containing the mini charts.
Dual Supertrend: Toggles the display of the evaluated dual super trend, based on the super trend settings provided below the option. The definitions for the options are the same as stated above for the super trend.
Relative Strength Index: Toggles the display of the evaluated RSI, based on the source and length settings provided below the option.
Volatility: Toggles the display of the calculated Volatility, based on the length settings provided below the option.
R-Squared: Toggles the display of the calculated R-Squared (R²), based on the length settings provided below the option.
🔶 LIMITATIONS
The tool allows users to display mini charts featuring various types of instruments alongside the primary chart instrument. However, there's a limitation: the selected primary chart instrument must have an ACTIVE market status. Alternatively, if the primary chart instrument is not active, the mini chart instruments must belong to the same exchange and have the same type as the primary chart instrument.
MTF Supertrend [CryptoSea]The MTF Supertrend Indicator is a versatile tool crafted to enhance trend analysis across multiple timeframes. Leveraging the reliable Supertrend formula, it provides traders with a comprehensive view of market trends and potential reversal points.
Key Features
Multi Timeframe Analysis: Tracks Supertrend signals over a variety of timeframes, offering a broad perspective on market direction.
Percentage Threshold Display: Filters out Supertrend data that is not within a specified percentage of the current price, keeping the display focused on relevant trends.
Adaptive Visual Display: Features a dynamic table that shows the current Supertrend status, which is fully customizable to the user's display preferences.
Customizable Sensitivity: Users can fine-tune the factor and ATR period settings, allowing for personalized trend sensitivity.
How it Works
Supertrend Calculation: Computes the Supertrend using the Average True Range (ATR) multiplied by a customizable factor, detecting changes in volatility and trend.
Higher Timeframe Filtering: Prioritizes higher timeframe trends over the current chart's timeframe to avoid chart clutter and focus on the most significant trends.
Colour-Coded Trends: Utilizes colour coding to clearly indicate bullish and bearish trends, aiding quick visual analysis.
Responsive Display Options: Includes a switchable table view to overlay trend information on the chart, with options for dark and light themes.
Benefits for Different Trading Styles
Day Traders: Use real-time updates to catch short-term trend reversals and ride the momentum for quick profits.
Swing Traders: Benefit from viewing medium to long-term trends to formulate strategies that span several days or weeks.
Position Traders: Utilize the monthly supertrend data to make long-term investment decisions based on prevailing market directions.
Application
Strategic Decision-Making: Assists traders in making informed decisions by providing a layered view of trend directions across timeframes.
Trend Confirmation: Reinforces trading strategies by confirming trends with higher timeframe Supertrend alignment.
Customized Analysis: Adapts to various trading styles with input settings that control the display and sensitivity of trend data.
The MTF Supertrend Indicator by is a powerful addition to the trader's toolkit, enhancing multi-timeframe trend analysis and contributing to a strategic trading approach in volatile markets.
AminioLibraryLibrary "AminioLibrary"
: this is my personal library that is being used in different indicators and strategies
calculateMA(source, len, maType)
This fuction returns a moving average value based on the type
Parameters:
source (float) : Is the time series source to calculate average from
len (simple int) : The length of the moving average, this should be integer
maType (string) : The type of moving average, acceptable types are : SMA, HMA, EMA, RMA, WMA, VWMA
Returns: value of moving average
atr(source, len)
This fuction returns atr value for a given source
Parameters:
source (float) : Is the time series source to calculate atr from
len (simple int) : The length of the atr, this should be integer
Returns: value of atr from source
superTrend(source, factor, len)
This fuction returns value of super trend indicator and the trend direction as a tupple
Parameters:
source (float) : Is the time series source to calculate super trend from
factor (simple float) : The multiplication factor for upper and lower band calcualtion, this can be a float
len (simple int) : The length of the super trend, this should be integer
Returns: value of atr from source
halfTrend(am, chdev)
This fuction returns a hTrend type carrying different values for half trend indicator
Parameters:
am (int) : This is the amplitude used for calcucating the half trend, use integers
chdev (float) : This is the Channel Deviation value used for calculating upper and lower atr channel boundaries, you can use floats
Returns: hTrend data type
hTrend
Fields:
halfTrend (series__float)
trend (series__integer)
atrHigh (series__float)
atrLow (series__float)
arrowUp (series__float)
arrowDown (series__float)
Vegas SuperTrend Enhanced - Strategy [presentTrading]█ Introduction and How it is Different
The "Vegas SuperTrend Enhanced - Strategy " trading strategy represents a novel integration of two powerful technical analysis tools: the Vegas Channel and the SuperTrend indicator. This fusion creates a dynamic, adaptable strategy designed for the volatile and fast-paced cryptocurrency markets, particularly focusing on Bitcoin trading.
Unlike traditional trading strategies that rely on a static set of rules, this approach modifies the SuperTrend's sensitivity to market volatility, offering traders the ability to customize their strategy based on current market conditions. This adaptability makes it uniquely suited to navigating the often unpredictable swings in cryptocurrency valuations, providing traders with signals that are both timely and reflective of underlying market dynamics.
BTC 6h LS
█ Strategy, How it Works: Detailed Explanation
This is an innovative approach that combines the volatility-based Vegas Channel with the trend-following SuperTrend indicator to create dynamic trading signals. This section delves deeper into the mechanics and mathematical foundations of the strategy.
Detail picture to show :
🔶 Vegas Channel Calculation
The Vegas Channel serves as the foundation of this strategy, employing a simple moving average (SMA) coupled with standard deviation to define the upper and lower bounds of the trading channel. This channel adapts to price movements, offering a visual representation of potential support and resistance levels based on historical price volatility.
🔶 SuperTrend Indicator Adjustment
Central to the strategy is the SuperTrend indicator, which is adjusted according to the width of the Vegas Channel. This adjustment is achieved by modifying the SuperTrend's multiplier based on the channel's volatility, allowing the indicator to become more sensitive during periods of high volatility and less so during quieter market phases.
🔶 Trend Determination and Signal Generation
The market trend is determined by comparing the current price with the SuperTrend values. A shift from below to above the SuperTrend line signals a potential bullish trend, prompting a "buy" signal, whereas a move from above to below indicates a bearish trend, generating a "sell" signal. This methodology ensures that trades are entered in alignment with the prevailing market direction, enhancing the potential for profitability.
BTC 6h Local
█ Trade Direction
A distinctive feature of this strategy is its configurable trade direction input, allowing traders to specify whether they wish to engage in long positions, short positions, or both. This flexibility enables users to tailor the strategy according to their risk tolerance, trading style, and market outlook, providing a personalized trading experience.
█ Usage
To utilize the "Vegas SuperTrend - Enhanced" strategy effectively, traders should first adjust the input settings to align with their trading preferences and the specific characteristics of the asset being traded. Monitoring the strategy's signals within the context of overall market conditions and combining its insights with other forms of analysis can further enhance its effectiveness.
█ Default Settings
- Trade Direction: Both (allows trading in both directions)
- ATR Period for SuperTrend: 10 (determines the length of the ATR for volatility measurement)
- Vegas Window Length: 100 (sets the length of the SMA for the Vegas Channel)
- SuperTrend Multiplier Base: 5 (base multiplier for SuperTrend calculation)
- Volatility Adjustment Factor: 5.0 (adjusts SuperTrend sensitivity based on Vegas Channel width)
These default settings provide a balanced approach suitable for various market conditions but can be adjusted to meet individual trading needs and objectives.
Kalman Hull Supertrend [BackQuant]Kalman Hull Supertrend
At its core, this indicator uses a Kalman filter of price, put inside of a hull moving average function (replacing the weighted moving averages) and then using that as a price source for the supertrend instead of the normal hl2 (high+low/2).
Therefore, making it more adaptive to price and also sensitive to recent price action.
PLEASE Read the following, knowing what an indicator does at its core before adding it into a system is pivotal. The core concepts can allow you to include it in a logical and sound manner.
1. What is a Kalman Filter
The Kalman Filter is an algorithm renowned for its efficiency in estimating the states of a linear dynamic system amidst noisy data. It excels in real-time data processing, making it indispensable in fields requiring precise and adaptive filtering, such as aerospace, robotics, and financial market analysis. By leveraging its predictive capabilities, traders can significantly enhance their market analysis, particularly in estimating price movements more accurately.
If you would like this on its own, with a more in-depth description please see our Kalman Price Filter.
2. Hull Moving Average (HMA) and Its Core Calculation
The Hull Moving Average (HMA) improves on traditional moving averages by combining the Weighted Moving Average's (WMA) smoothness and reduced lag. Its core calculation involves taking the WMA of the data set and doubling it, then subtracting the WMA of the full period, followed by applying another WMA on the result over the square root of the period's length. This methodology yields a smoother and more responsive moving average, particularly useful for identifying market trends more rapidly.
3. Combining Kalman Filter with HMA
The innovative combination of the Kalman Filter with the Hull Moving Average (KHMA) offers a unique approach to smoothing price data. By applying the Kalman Filter to the price source before its incorporation into the HMA formula, we enhance the adaptiveness and responsiveness of the moving average. This adaptive smoothing method reduces noise more effectively and adjusts more swiftly to price changes, providing traders with clearer signals for market entries or exits.
The calculation is like so:
KHMA(_src, _length) =>
f_kalman(2 * f_kalman(_src, _length / 2) - f_kalman(_src, _length), math.round(math.sqrt(_length)))
4. Integration with Supertrend
Incorporating this adaptive price smoothing technique into the Supertrend indicator further enhances its efficiency. The Supertrend, known for its proficiency in identifying the prevailing market trend and providing clear buy or sell signals, becomes even more powerful with an adaptive price source. This integration allows the Supertrend to adjust more dynamically to market changes, offering traders more accurate and timely trading signals.
5. Application in a Trading System
In a trading system, the Kalman Hull Supertrend indicator can serve as a critical component for identifying market trends and generating signals for potential entry and exit points. Its adaptiveness and sensitivity to price changes make it particularly useful for traders looking to minimize lag in signal generation and improve the accuracy of their market trend analysis. Whether used as a standalone tool or in conjunction with other indicators, its dynamic nature can significantly enhance trading strategies.
6. Core Calculations and Benefits
The core of this indicator lies in its sophisticated filtering and averaging techniques, starting with the Kalman Filter's predictive adjustments, followed by the adaptive smoothing of the Hull Moving Average, and culminating in the trend-detecting capabilities of the Supertrend. This multi-layered approach not only reduces market noise but also adapts to market volatility more effectively. Benefits include improved signal accuracy, reduced lag, and the ability to discern trend changes more promptly, offering traders a competitive edge.
Thus following all of the key points here are some sample backtests on the 1D Chart
Disclaimer: Backtests are based off past results, and are not indicative of the future.
INDEX:BTCUSD
INDEX:ETHUSD
BINANCE:SOLUSD
Elastic Buy-Sell Volume Wighted SupertrendCredits: This uses Trading View's buy and sell volume script and the Super trend script.
Elastic Buy-Sell Volume Wighted Supertrend can be used like a traditional supertrend indicator however we do not have to arbitrarily choose a multiplier depending on the stock and time frame the code dynamically adjust the multiplier and this is described below.
The buy and sell ATR (Average True Range) play a crucial role in determining the levels for potential buy and sell signals in the market. These ATR values are calculated based on volume-weighted averages, providing insights into the strength of buying and selling pressures. By incorporating volume into the ATR calculation, the indicator can better adapt to market dynamics, as volume often reflects the intensity of price movements. Instead of using Volume as whole this uses up and down volume derived from lower time frames which is used to calculate buy and sell ATR.
The multiplier is a key factor in the Supertrend calculation, which adjusts the width of the trend bands. The multiplier in this indicator dynamically adjusts itself based on two key components: the ratio of the asset's Average True Range (ATR) to that of a broader market benchmark and the coefficient of variation (CV) of the True Range (TR). The ratio comparison provides a historical context of the asset's volatility relative to the wider market over a longer time frame, while the CV accounts for short-term fluctuations in volatility.
By comparing the asset's ATR to that of the benchmark, traders gain insights into the asset's historical volatility behavior. A higher multiplier suggests that the asset's volatility has historically exceeded that of the benchmark, indicating potentially larger price movements compared to the broader market. Conversely, a lower multiplier suggests the opposite.
The CV component measures short-term variability in the asset's volatility, ensuring that the multiplier adapts to both long-term trends and short-term fluctuations. This combined approach enables traders to make informed decisions, considering both historical volatility relative to the broader market and short-term variability. Ultimately, the dynamic multiplier enhances traders' ability to adjust their strategies effectively across various market conditions.
Overall, the use of buy and sell ATR, along with a dynamically adjusted multiplier, enhances the indicator's ability to identify trend directions and to use a dynamic stop loss level.
Dynamic Trailing (Zeiierman)█ Overview
The Dynamic Trailing (Zeiierman) indicator enhances the traditional SuperTrend approach by providing a more nuanced, adaptable tool for trend analysis and market volatility assessment. It combines techniques to identify dynamic support and resistance levels, trend directions, and market volatility. By integrating the Average True Range (ATR) with a unique multiplier system and smoothing mechanisms, this indicator offers a nuanced approach to trend-following strategies, making it a valuable asset for traders looking to leverage SuperTrend methodologies with additional insights into market dynamics.
█ How It Works
At its core, this indicator builds on the traditional SuperTrend formula by utilizing a modified ATR calculation to define the deviation for dynamic support and resistance levels. These levels are dynamically adjusted based on market volatility. The innovation lies in the addition of the Hull Moving Average (HMA) and the Triple Exponential Moving Average (TEMA) for an enhanced smoothing effect, making the indicator's trend signals more reliable and less prone to market noise. The trend direction is determined by comparing the closing price with the dynamic levels, facilitating clear bullish or bearish signals.
The indicator incorporates a 'Supertrend' function, which uses the dynamic levels and the price’s position relative to them to determine the trend direction. This determination is visualized through color-coded lines and a cloud zone, which expands or contracts based on the ATR and a user-defined width setting, illustrating the market's volatility and trend strength.
ATR Calculation: Utilizes the Average True Range (ATR) to measure market volatility. The ATR is a cornerstone of this indicator, helping to dynamically adjust the support and resistance levels according to the market’s changing conditions.
Supertrend Calculation: Implements a supertrend formula that combines the ATR with user-defined multipliers to plot potential trend directions. This feature helps in identifying whether the market is in an uptrend or downtrend, offering visual cues for potential reversals.
TEMA Calculation: Employs the Triple Exponential Moving Average (TEMA) through a Hull Moving Average (HMA) calculation to smooth out price data. This smoothing process helps in reducing market noise and makes the trend direction clearer.
Dynamic Support and Resistance: Calculates dynamic support and resistance levels by applying a deviation (derived from the ATR and user-defined multiplier) to the smoothed price data. These levels adapt to market conditions, providing areas where price might experience support or resistance.
Trend and Cloud Calculation: Determines the overall trend direction and plots a 'Cloud' zone around it, which adjusts in width based on the ATR and a user-defined cloud width setting. This cloud acts as a visual buffer, indicating the strength and stability of the current trend.
█ How to Use
Trend Identification: The primary function of this indicator is to help traders quickly identify the prevailing market trend. A change in the color of the dynamic trailing line or its position relative to the price can signal potential trend reversals.
Dynamic Support and Resistance: Unlike static levels, the dynamic levels adjust with market conditions, providing current areas where the price might experience support or resistance.
Dynamic Support
Dynamic Resistance
█ Settings
Mult (Multiplier): Adjusts the multiplier for the ATR calculation, affecting the deviation distance for support and resistance levels. Higher values decrease sensitivity and vice versa.
Len (Length): Sets the period for the HMA in the TEMA calculation, influencing the indicator's responsiveness to price changes.
Smoothness: Determines the smoothness of the dynamic support and resistance lines by setting the SMA length. Higher values result in smoother lines.
Cloud Width : Modifies the width of the cloud, providing a visual representation of market volatility.
Color Settings (upcol and dncol): Allows users to customize the colors of the indicator's lines and cloud, aiding in visual trend identification.
-----------------
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!
Trend Deviation strategy - BTC [IkkeOmar]Intro:
This is an example if anyone needs a push to get started with making strategies in pine script. This is an example on BTC, obviously it isn't a good strategy, and I wouldn't share my own good strategies because of alpha decay.
This strategy integrates several technical indicators to determine market trends and potential trade setups. These indicators include:
Directional Movement Index (DMI)
Bollinger Bands (BB)
Schaff Trend Cycle (STC)
Moving Average Convergence Divergence (MACD)
Momentum Indicator
Aroon Indicator
Supertrend Indicator
Relative Strength Index (RSI)
Exponential Moving Average (EMA)
Volume Weighted Average Price (VWAP)
It's crucial for you guys to understand the strengths and weaknesses of each indicator and identify synergies between them to improve the strategy's effectiveness.
Indicator Settings:
DMI (Directional Movement Index):
Length: This parameter determines the number of bars used in calculating the DMI. A higher length may provide smoother results but might lag behind the actual price action.
Bollinger Bands:
Length: This parameter specifies the number of bars used to calculate the moving average for the Bollinger Bands. A longer length results in a smoother average but might lag behind the price action.
Multiplier: The multiplier determines the width of the Bollinger Bands. It scales the standard deviation of the price data. A higher multiplier leads to wider bands, indicating increased volatility, while a lower multiplier results in narrower bands, suggesting decreased volatility.
Schaff Trend Cycle (STC):
Length: This parameter defines the length of the STC calculation. A longer length may result in smoother but slower-moving signals.
Fast Length: Specifies the length of the fast moving average component in the STC calculation.
Slow Length: Specifies the length of the slow moving average component in the STC calculation.
MACD (Moving Average Convergence Divergence):
Fast Length: Determines the number of bars used to calculate the fast EMA (Exponential Moving Average) in the MACD.
Slow Length: Specifies the number of bars used to calculate the slow EMA in the MACD.
Signal Length: Defines the number of bars used to calculate the signal line, which is typically an EMA of the MACD line.
Momentum Indicator:
Length: This parameter sets the number of bars over which momentum is calculated. A longer length may provide smoother momentum readings but might lag behind significant price changes.
Aroon Indicator:
Length: Specifies the number of bars over which the Aroon indicator calculates its values. A longer length may result in smoother Aroon readings but might lag behind significant market movements.
Supertrend Indicator:
Trendline Length: Determines the length of the period used in the Supertrend calculation. A longer length results in a smoother trendline but might lag behind recent price changes.
Trendline Factor: Specifies the multiplier used in calculating the trendline. It affects the sensitivity of the indicator to price changes.
RSI (Relative Strength Index):
Length: This parameter sets the number of bars over which RSI calculates its values. A longer length may result in smoother RSI readings but might lag behind significant price changes.
EMA (Exponential Moving Average):
Fast EMA: Specifies the number of bars used to calculate the fast EMA. A shorter period results in a more responsive EMA to recent price changes.
Slow EMA: Determines the number of bars used to calculate the slow EMA. A longer period results in a smoother EMA but might lag behind recent price changes.
VWAP (Volume Weighted Average Price):
Default settings are typically used for VWAP calculations, which consider the volume traded at each price level over a specific period. This indicator provides insights into the average price weighted by trading volume.
backtest range and rules:
You can specify the start date for backtesting purposes.
You can can select the desired trade direction: Long, Short, or Both.
Entry and Exit Conditions:
LONG:
DMI Cross Up: The Directional Movement Index (DMI) indicates a bullish trend when the positive directional movement (+DI) crosses above the negative directional movement (-DI).
Bollinger Bands (BB): The price is below the upper Bollinger Band, indicating a potential reversal from the upper band.
Momentum Indicator: Momentum is positive, suggesting increasing buying pressure.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, indicating bullish momentum.
Supertrend Indicator: The Supertrend indicator signals an uptrend.
Schaff Trend Cycle (STC): The STC indicates a bullish trend.
Aroon Indicator: The Aroon indicator signals a bullish trend or crossover.
When all these conditions are met simultaneously, the strategy considers it a favorable opportunity to enter a long trade.
SHORT:
DMI Cross Down: The Directional Movement Index (DMI) indicates a bearish trend when the negative directional movement (-DI) crosses above the positive directional movement (+DI).
Bollinger Bands (BB): The price is above the lower Bollinger Band, suggesting a potential reversal from the lower band.
Momentum Indicator: Momentum is negative, indicating increasing selling pressure.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, signaling bearish momentum.
Supertrend Indicator: The Supertrend indicator signals a downtrend.
Schaff Trend Cycle (STC): The STC indicates a bearish trend.
Aroon Indicator: The Aroon indicator signals a bearish trend or crossover.
When all these conditions align, the strategy considers it an opportune moment to enter a short trade.
Disclaimer:
THIS ISN'T AN OPTIMAL STRATEGY AT ALL! It was just an old project from when I started learning pine script!
The backtest doesn't promise the same results in the future, always do both in-sample and out-of-sample testing when backtesting a strategy. And make sure you forward test it as well before implementing it!
Furthermore this strategy uses both trend and mean-reversion systems, that is usually a no-go if you want to build robust trend systems .
Don't hesitate to comment if you have any questions or if you have some good notes for a beginner.
Supertrended RSI [AlgoAlpha]🚀📈 Introducing the Supertrended RSI Indicator by AlgoAlpha!
Designed to empower your trading decisions, this innovative Pine Script™ creation marries the precision of the Relative Strength Index (RSI) with the dynamic prowess of the SuperTrend methodology. Whether you’re charting the course of cryptos, riding the waves of stock markets, or navigating the futures landscape, our SuperTrended RSI Indicator is your go-to tool for uncovering unique trend insights and crafting trading strategies. 🌟
Key Features:
🔍 Enhanced RSI Analysis: Combines the traditional RSI with a supertrend calculation for a dynamic look at market trends.
🔄 Multiple Moving Averages: Offers a selection of moving averages including SMA, HMA, EMA, and more for tailored analysis.
🎨 Customizable Visuals: Choose your own color scheme for uptrends and downtrends to match your trading dashboard.
📊 Flexible Input Settings: Tailor the indicator with customizable lengths, factors, and smoothing options.
⚡ Real-Time Alerts: Set alerts for bullish and bearish reversals to stay ahead of market movements.
Quick Guide to Using the Supertrended RSI Indicator
Maximize your trading with the Supertrended RSI by following these streamlined steps! 🚀✨
🛠 Add the Indicator: Search for "Supertrended RSI " in TradingView's Indicators & Strategies. Customize settings like RSI length, MA type, and Supertrend factors to fit your trading style.
🎨 Visual Customization: Adjust uptrend and downtrend colors for clear trend visualization.
📊 Market Analysis: Watch for the Supertrend color change for trend reversals. Use the 70 and 30 lines to spot overbought/oversold conditions.
🔔 Alerts: Enable notifications for reversal conditions to capture trading opportunities without constant chart monitoring.
How It Works:
At the core of this indicator is the combination of the Relative Strength Index (RSI) and the Supertrend framework, it does so by applying the SuperTrend on the RSI. The RSI settings can be adjusted for length and smoothing, with the option to select the data source. The Supertrend calculation takes into account a specified trend factor and the Average True Range (ATR) over a given period to determine trend direction.
Visual elements include plotting the RSI, its moving average, and the Supertrend line, with customizable colors for clarity. Overbought and oversold conditions are highlighted, and trend changes are filled with distinct colors.
🔔 Alerts: Enable alerts for crossover and crossunder events to catch every trading opportunity.
🌈 Whether you're a seasoned trader or just starting, the Supertrended RSI offers a fresh perspective on market trends. 📈
💡 Tip: Experiment with different settings to find the perfect balance for your trading style!
🔗 Explore, customize, and enhance your trading experience with the Supertrended RSI Indicator! Happy trading! 🎉
PresentTrend RMI Synergy - Strategy [presentTrading] █ Introduction and How it is Different
The "PresentTrend RMI Synergy Strategy" is the combined power of the Relative Momentum Index (RMI) and a custom presentTrend indicator. This strategy introduces a multifaceted approach, integrating momentum analysis with trend direction to offer traders a more nuanced and responsive trading mechanism.
BTCUSD 6h L/S Performance
Local
█ Strategy, How It Works: Detailed Explanation
The "PresentTrend RMI Synergy Strategy" intricately combines the Relative Momentum Index (RMI) and a custom SuperTrend indicator to create a powerful tool for traders.
🔶 Relative Momentum Index (RMI)
The RMI is a variation of the Relative Strength Index (RSI), but instead of using price closes against itself, it measures the momentum of up and down movements in price relative to previous prices over a given period. The RMI for a period length `N` is calculated as follows:
RMI = 100 - 100/ (1 + U/D)
where:
- `U` is the average upward price change over `N` periods,
- `D` is the average downward price change over `N` periods.
The RMI oscillates between 0 and 100, with higher values indicating stronger upward momentum and lower values suggesting stronger downward momentum.
RMI = 21
RMI = 42
For more information - RMI Trend Sync - Strategy :
🔶 presentTrend Indicator
The presentTrend indicator combines the Average True Range (ATR) with a moving average to determine trend direction and dynamic support or resistance levels. The presentTrend for a period length `M` and a multiplier `F` is defined as:
- Upper Band: MA + (ATR x F)
- Lower Band: MA - (ATR x F)
where:
- `MA` is the moving average of the close price over `M` periods,
- `ATR` is the Average True Range over the same period,
- `F` is the multiplier to adjust the sensitivity.
The trend direction switches when the price crosses the presentTrend bands, signaling potential entry or exit points.
presentTrend length = 3
presentTrend length = 10
For more information - PresentTrend - Strategy :
🔶 Strategy Logic
Entry Conditions:
- Long Entry: Triggered when the RMI exceeds a threshold, say 60, indicating a strong bullish momentum, and when the price is above the presentTrend, confirming an uptrend.
- Short Entry: Occurs when the RMI drops below a threshold, say 40, showing strong bearish momentum, and the price is below the present trend, indicating a downtrend.
Exit Conditions with Dynamic Trailing Stop:
- Long Exit: Initiated when the price crosses below the lower presentTrend band or when the RMI falls back towards a neutral level, suggesting a weakening of the bullish momentum.
- Short Exit: Executed when the price crosses above the upper presentTrend band or when the RMI rises towards a neutral level, indicating a reduction in bearish momentum.
Equations for Dynamic Trailing Stop:
- For Long Positions: The exit price is set at the lower SuperTrend band once the entry condition is met.
- For Short Positions: The exit price is determined by the upper SuperTrend band post-entry.
These dynamic trailing stops adjust as the market moves, providing a method to lock in profits while allowing room for the position to grow.
This strategy's strength lies in its dual analysis approach, leveraging RMI for momentum insights and presentTrend for trend direction and dynamic stops. This combination offers traders a robust framework to navigate various market conditions, aiming to capture trends early and exit positions strategically to maximize gains and minimize losses.
█ Trade Direction
The strategy provides flexibility in trade direction selection, offering "Long," "Short," or "Both" options to cater to different market conditions and trader preferences. This adaptability ensures that traders can align the strategy with their market outlook, risk tolerance, and trading goals.
█ Usage
To utilize the "PresentTrend RMI Synergy Strategy," traders should input their preferred settings in the Pine Script™ and apply the strategy to their charts. Monitoring RMI for momentum shifts and adjusting positions based on SuperTrend signals can optimize entry and exit points, enhancing potential returns while managing risk.
█ Default Settings
1. RMI Length: 21
The 21-period RMI length strikes a balance between capturing momentum and filtering out market noise, offering a medium-term outlook on market trends.
2. Super Trend Length: 7
A SuperTrend length of 7 periods is chosen for its responsiveness to price movements, providing a dynamic framework for trend identification without excessive sensitivity.
3. Super Trend Multiplier: 4.0
The multiplier of 4.0 for the SuperTrend indicator widens the trend bands, focusing on significant market moves and reducing the impact of minor fluctuations.
---
The "PresentTrend RMI Synergy Strategy" represents a significant step forward in trading strategy development, blending momentum and trend analysis in a unique way. By providing a detailed framework for understanding market dynamics, this strategy empowers traders to make more informed decisions.
SuperTrend Fisher [AlgoAlpha]🚀🌟 Introducing the "Super Fisher" by AlgoAlpha, a sophisticated and versatile tool crafted for the discerning trader. This innovative indicator merges the precision of the Fisher Transform with the adaptability of the SuperTrend methodology, offering a fresh perspective on market analysis. 📈🔍
Key Features:
🔶 Customizable Settings: Tailor the indicator to your trading style with adjustable inputs like "Fair-value Period" and "EMA Length". Choose your preferred "Up Color" and "Down Color" for a personalized visual experience.
🔶 Advanced Fisher Transform: At the heart of this tool is the Fisher Transform, an algorithm renowned for pinpointing potential price reversals by normalizing asset prices.
🔶 Integrated SuperTrend Functionality: This feature adds a layer of trend analysis, using the refined Fisher Transform values to generate dynamic, trend-following signals.
🔶 Enhanced Visualization: Clearly distinguishable bullish and bearish market phases, thanks to the color-coded plots of Fisher Transform and SuperTrend values.
🔶 Overbought/Oversold Levels: Visual plots and fills for these levels provide additional insights into market extremities.
🔶 Configurable Alerts: Stay informed with alerts for critical market movements like crossing the zero line or the SuperTrend.
Logic:
The "Super Fisher" operates on a sophisticated algorithm:
1. Fisher Transform Calculation: It starts by calculating the Detrended Price Oscillator (DPO) and its standard deviation. These values are then transformed using the Fisher Transform formula, which is subsequently smoothed with a Hull Moving Average.
2. SuperTrend Integration: The SuperTrend function employs the Fisher Transform values to create a dynamic trend-following tool. It calculates upper and lower bands and determines which one to use for market direction based on whether the fisher is above or below the bands, offering an insightful view of the price trend.
3. Overbought/Oversold Identification: The tool plots specific levels to indicate overbought and oversold conditions, aiding in the identification of potential reversal points.
Here's a closer look at the core calculations:
Calculates the Fisher Transform:
value = 0.0
value := round_(.66 * ((src - low_) / (high_ - low_) - .5) + .67 * nz(value ))
fish1 = 0.0
fish1 := .5 * math.log((1 + value) / (1 - value)) + .5 * nz(fish1 )
fish1 := ta.hma(fish1, l)
Calculates the SuperTrend:
supertrend(factor, atrPeriod, srcc) =>
src = srcc
atr = atrr(srcc, atrPeriod)
upperBand = src + factor * atr
lowerBand = src - factor * atr
prevLowerBand = nz(lowerBand )
prevUpperBand = nz(upperBand )
lowerBand := lowerBand > prevLowerBand or srcc < prevLowerBand ? lowerBand : prevLowerBand
upperBand := upperBand < prevUpperBand or srcc > prevUpperBand ? upperBand : prevUpperBand
int direction = na
float superTrend = na
prevSuperTrend = superTrend
if na(atr )
direction := 1
else if prevSuperTrend == prevUpperBand
direction := srcc > upperBand ? -1 : 1
else
direction := srcc < lowerBand ? 1 : -1
superTrend := direction == -1 ? lowerBand : upperBand
How to Use:
📊 To maximize the potential of the "Super Fisher", follow these steps:
1. Customize Settings: Adjust the inputs to match your trading preferences. This includes setting the periods for the Fisher Transform and SuperTrend, as well as choosing colors for better visualization.
2. Analyze the Market: Observe the Fisher Transform and SuperTrend plots to gauge market direction. Pay special attention to color changes, as they indicate shifts in market sentiment.
3. Identify Extremes: Use the overbought and oversold plots to understand potential reversal points.
4. Set Alerts: Utilize the alert functionality to stay informed about significant market movements, ensuring you never miss an opportunity.
🔥 In summary the "Super Fisher" is a comprehensive market analysis tool designed to enhance your trading insights and decision-making process. 📉🌟🚨
