Triangular Hull Moving Average + Volatility [BigBeluga]This indicator combines the Triangular Hull Moving Average (THMA) with a volatility overlay to provide a smoother trend-following tool while dynamically visualizing market volatility.
🔵 Key Features:
THMA-Based Trend Detection: The indicator applies a Triangular Hull Moving Average (THMA) to smooth price data, reducing lag while maintaining responsiveness to trend changes.
// THMA
thma(_src, _length) =>
ta.wma(ta.wma(_src,_length / 3) * 3 - ta.wma(_src, _length / 2) - ta.wma(_src, _length), _length)
Dynamic Volatility Bands: When enabled, the indicator displays wicks extending from the THMA-based candles. These bands expand and contract based on price volatility.
Trend Reversal Signals The indicator marks trend shifts using triangle-shaped signals:
- Upward triangles appear when the THMA trend shifts to bullish.
- Downward triangles appear when the THMA trend shifts to bearish.
Customizable Settings: Users can adjust the THMA length, volatility calculation period, and colors for up/down trends to fit their trading style.
Informative Dashboard: The bottom-right corner displays the current trend direction and volatility percentage, helping traders quickly assess market conditions.
🔵 Usage:
Trend Trading: The colored candles indicate whether the market is trending up or down. Traders can follow the trend direction and use trend reversals for entry or exit points.
Volatility Monitoring: When the volatility feature is enabled, the expanding or contracting wicks help visualize market momentum and potential breakout strength.
Signal Confirmation: The triangle signals can be used to confirm potential entry points when the trend shifts.
This tool is ideal for traders who want a responsive moving average with volatility insights to enhance their trend-following strategies.
Trendanalyisis
Bitcoin Log Growth Curve OscillatorThis script presents the oscillator version of the Bitcoin Logarithmic Growth Curve 2024 indicator, offering a new perspective on Bitcoin’s long-term price trajectory.
By transforming the original logarithmic growth curve into an oscillator, this version provides a normalized view of price movements within a fixed range, making it easier to identify overbought and oversold conditions.
For a comprehensive explanation of the mathematical derivation, underlying concepts, and overall development of the Bitcoin Logarithmic Growth Curve, we encourage you to explore our primary script, Bitcoin Logarithmic Growth Curve 2024, available here . This foundational script details the regression-based approach used to model Bitcoin’s long-term price evolution.
Normalization Process
The core principle behind this oscillator lies in the normalization of Bitcoin’s price relative to the upper and lower regression boundaries. By applying Min-Max Normalization, we effectively scale the price into a bounded range, facilitating clearer trend analysis. The normalization follows the formula:
normalized price = (upper regresionline − lower regressionline) / (price − lower regressionline)
This transformation ensures that price movements are always mapped within a fixed range, preventing distortions caused by Bitcoin’s exponential long-term growth. Furthermore, this normalization technique has been applied to each of the confidence interval lines, allowing for a structured and systematic approach to analyzing Bitcoin’s historical and projected price behavior.
By representing the logarithmic growth curve in oscillator form, this indicator helps traders and analysts more effectively gauge Bitcoin’s position within its long-term growth trajectory while identifying potential opportunities based on historical price tendencies.
Smart Market Bias [PhenLabs]📊 Smart Market Bias Indicator (SMBI)
Version: PineScript™ v6
Description
The Smart Market Bias Indicator (SMBI) is an advanced technical analysis tool that combines multiple statistical approaches to determine market direction and strength. It utilizes complexity analysis, information theory (Kullback Leibler divergence), and traditional technical indicators to provide a comprehensive market bias assessment. The indicator features adaptive parameters based on timeframe and trading style, with real-time visualization through a sophisticated dashboard.
🔧 Components
Complexity Analysis: Measures price movement patterns and trend strength
KL Divergence: Statistical comparison of price distributions
Technical Overlays: RSI and Bollinger Bands integration
Filter System: Volume and trend validation
Visual Dashboard: Dynamic color-coded display of all components
Simultaneous current timeframe + higher time frame analysis
🚨Important Explanation Feature🚨
By hovering over each individual cell in this comprehensive dashboard, you will get a thorough and in depth explanation of what each cells is showing you
Visualization
HTF Visualization
📌 Usage Guidelines
Based on your own trading style you should alter the timeframe length that you would like to be analyzing with your dashboard
The longer the term of the position you are planning on entering the higher timeframe you should have your dashboard set to
Bias Interpretation:
Values > 50% indicate bullish bias
Values < 50% indicate bearish bias
Neutral zone: 45-55% suggests consolidation
✅ Best Practices:
Use appropriate timeframe preset for your trading style
Monitor all components for convergence/divergence
Consider filter strength for signal validation
Use color intensity as confidence indicator
⚠️ Limitations
Requires sufficient historical data for accurate calculations
Higher computational complexity on lower timeframes
May lag during extremely volatile conditions
Best performance during regular market hours
What Makes This Unique
Multi-Component Analysis: Combines complexity theory, statistical analysis, and traditional technical indicators
Adaptive Parameters: Automatically optimizes settings based on timeframe
Triple-Layer Filtering: Uses trend, volume, and minimum strength thresholds
Visual Confidence System: Color intensity indicates signal strength
Multi-Timeframe Capabilities: Allowing the trader to analyze not only their current time frame but also the higher timeframe bias
🔧 How It Works
The indicator processes market data through four main components:
Complexity Score (40% weight): Analyzes price returns and pattern complexity
Kullback Leibler Divergence (30% weight): Compares current and historical price distributions
RSI Analysis (20% weight): Momentum and oversold/overbought conditions
Bollinger Band Position (10% weight): Price position relative to volatility
Underlying Method
Maintains rolling windows of price data for multiple calculations
Applies custom normalization using hyperbolic tangent function
Weights component scores based on reliability and importance
Generates final bias percentage with confidence visualization
💡 Note: For optimal results, use in conjunction with price action analysis and consider multiple timeframe confirmation. The indicator performs best when all components show alignment.
MTF Fractal Bias Confluence DetectorMTF Fractal Bias Confluence Detector
This indicator, the MTF Fractal Bias Confluence Detector, is based on the idea that the market exhibits fractal behaviour. The origin of the idea traces back to 1963, when Benoit Mandelbrot analyzed the fluctuations in cotton prices over a time series starting in 1900, discovering that price changes exhibited scale-invariant patterns. This means that the curve representing daily price changes mirrored the shape of monthly price changes, highlighting the fractal nature of market behaviour. When applied to swing points across multiple timeframes (MTF), this concept suggests that swing points demonstrate similar patterns regardless of the timeframe being analyzed. These self-similar fractal structures provide traders with insights into market reversals and trends, making them a powerful tool for multi-timeframe analysis.
A Swing Point is made up of three main parts: a move away from the last Break level; forming a peak (pivot point) with a Fakeout of the peak (explained through an example later); and a subsequent move away from it. These swing points recur across all timeframes as part of cyclical momentum patterns, meaning each swing point gives rise to a new cycle of market movement. Due to the fractal nature of the market, larger cycles encompass multiple smaller ones.
The theory behind the Fractal Bias Confluence Detector utilizes the idea that the market movements are fractal in nature and illustrates how such swing points can be identified across MTFs. To do so, we examine the Peak Fakeouts within these cycles, as they form. It is not possible to know in advance how long each of these moves will last, but a Swing Point will often occur with a Peak Fakeout. Therefore, the most critical element is to identify the Peak Fakeout.
The snapshot below captures a Peak Fakeout, as discussed earlier.
Similarly, the following snapshot shows various possible breakdowns of Higher Time Frame (HTF) cycles into smaller Lower Time Frame (LTF) movements. The chart contains a white table(not part of the indicator and shown for illustration purposes only).
To further illustrate. Consider the combination of Time Frames (TF) from the 2nd row (from the above snapshot). Cycle TF (1M), Setup TF (1W), Momentum TF (1D) etc.
Price movements in the 1M TF highlight the direction in which HTF traders are pushing the market. Often, when markets have broken out of a level, they tend to form a peak and can then pull back towards the prior breakout level. Once the pullback is beyond the last breakout level, in the opposite direction, we may say the peak formation is created, and directional bias has changed. This is also called Peak Fakeout. Due to the fractal nature of the market, Swing Points on the HTF will often constitute multiple Swing Points on the LTF, though they are not always in sync. However, after such peak formation, there is a high probability that the price might move away from the peak for at least 1 candle (in the cycle TF). This theory illustrates that once a new cycle is in play, we can then look at 1W (Setup TF) to look for possible in-sync movements, at least within that 1 candle of the HTF. Repeating the same for further lower TFs, we may arrive at a confluence of Fractal Bias and see how the movements in LTF are driven by the HTF momentum.
Another example within the chart:
Note: The above examples are just for illustration purposes, and other permutations and combinations of movements across multiple TFs are also possible.
This indicator aims to help users identify such fractal-bias-confluences, so that they can leverage the fractal nature of the market to get a holistic view. To do so, the indicator displays how the market has moved across multiple time frames, with respect to different historical levels.
Features:
1. The bias summary table
The following snapshot depicts the bias summary table at the bottom right of the chart.
1.1. Workings: The table will display, for various TFs, in the first four (starting from "current" to Prev ) rows, one of the following.
"F/H" , " Acronym for the failed break of the previous high",
"F/L" , " Acronym for the failed break of the previous low",
"B/H" , " Acronym for the break of the previous high",
"B/L" , " Acronym for the break of the previous low",
"IN" , " Acronym for an inside candle (never broke high or low of perv candle)",
"OT" , " Acronym for an outside candle (broke both high and low of previous candle and closing price is in between previous high and low)".
Note: these acronyms are customizable according to the user's choice of terminology in any language, as shown in the snapshot below.
1.1.1 In the above snapshot, the 1st row, called "Current", shows how the current candle is evolving with respect to the previous one. The "previous" row shows how the previous candle closed with respect to the pre-previous one. The next two rows represent the bias of the pre-previous and pre-pre-previous in a similar manner. By default, the bias is updated in real-time, even for the already closed historical candles. For example, if the previous 4H candle closed as a B/H and the current price then comes below the pre-previous 4H candle high, then the bias of the previous candle will get updated to F/H. This informs the user that the break above the pre-previous high has failed. However, the user has the option to turn this off. The information in these four rows shows the user how the market is moving currently and how it evolved before reaching the current price levels.
Note: The calculation done by the indicator is to keep track of how the price is moving with respect to the last candle levels in real-time. This means if the price first goes above the previous high and then goes below the previous low, the indicator is equipped to display what happened in the most recent time. The snapshot below shows the option to turn on/off such updates in the bias summary table.
Note: While the bias summary table is turned on, the user also has the option to turn off Prev and Prev rows, as shown in the snapshot below.
1.1.2 The 2nd to last row, called CL/CS(Consecutive Long/Short), shows whether consecutive (2+) breaks of high/low happened or not in one direction without taking out the previous candle's range in the opposite direction. When conditions are met, it will show the number of times the price has been pushed in one direction (in the above manner), followed by "L" for long and "S" for short, for each TF, for example, "4L". It gets updated in real-time for each push in the same direction. Furthermore, a good analogy of "4L" on an HTF is 4 consecutive Break of Structure (BOS) (in the same direction) on LTF, without a Change of Character (CHoCH). Another example would be Stacey Burke's 3 consecutive rises that can be mapped in the indicator, if the conditions are met for "3L" for a given TF.
1.1.3 The last row, FRC/FGC, stands for the first red/green candle. It shows whether the last candle of a TF has closed as green (i.e., close>open) after posting two red candles (i.e., close<open). This helps understand possible short-term retracements in price movements.
1.2 Customizability
1.2.1 We provide a wide range of customizable options, including multiple time frames to choose from for each type of TFs. This is shown in the snapshot below.
1.2.2 All the acronyms on the summary table are customizable and can be user-defined, including text, background color and transparency. This is shown in the snapshot below.
2. High-low lines
2.1 We also show the high and low of various TFs, including the current high and low lines (which are updated in real-time. This can be observed in one of the previous snapshots.
2.2 Previous high, low and close lines can be extended (for Cycles, Setups and Momentum TFs). Their style and thickness are also customizable. This can be observed in one of the previous snapshots.
Note: The user has the option to turn all the lines off. Sub-options include turning off the current line only. Changing the color, thickness, and transparency of the lines. This can be observed in one of the previous snapshots.
3. Last known Break / Failed Break lines.
3.1 We also depict the last known Break and Failed break lines for the user to have all the important levels at their disposal. This can be observed in one of the previous snapshots.
Note: The user has the option to turn this on/off.
4. Magnifier Box
4.1 We have provided the user to look at thirty 1m candles inside a magnifier box while they are in a higher TF chart.
The user has the option to turn this on/off.
5. Moving Averages (MA)
We have also grouped some built-in MA options for the user to utilize along with other elements of the indicator to help them get another layer of confluence.
The user has the option to turn this on/off.
Disclaimer:
The indicator leverages pre-existing theories of market movements. These can be found in decades-old published materials (like books, journals, public lectures accessible over popular video-sharing websites, etc.). As such, we do not claim to have any exclusive rights over the underlying theories. There are many analogous theories and nomenclatures that users can map onto this indicator. Users may also use the indicator in combination with other indicators.
1. Educational Use Only
The "MTF Fractal Bias Confluence Detector" is provided for educational purposes only. It does not constitute an offer, or an obligation, or a guarantee, of profitable trades or loss prevention.
2. No Financial Advice
This tool should not be viewed as financial advice for either trading or investment(s).
3. User Responsibility
Users alone bear all risks associated with any decisions they make using this tool. Past performance does not guarantee future results.
By using the "MTF Fractal Bias Confluence Detector," you acknowledge that you have read, understood and accepted this disclaimer in its entirety.
Smart Money Breakouts [iskess 01-02 11:05]This is an big update to the excellent Smart Money Breakout Script published in Oct 2023 by ChartPrime who, to my knowledge, was the original author.
FULL CREDIT GOES TO CHARTPRIME FOR THIS ORIGINAL WORK.
Per the moderator's rules, you will find below a meaningful, detailed self-contained description that does not rely on delegation to the open source code or links to other content. You will find in the description details on what the script does, how it does that, how to use it, and how it is original.
The "Smart Money Breakouts" indicator is designed to identify breakouts based on changes in character (CHOCH) or breaks of structure (BOS) patterns, facilitating automated trading with user-defined Take Profit (TP) level.
The indicator incorporates essential elements such as volume analysis and a data table to assist traders in optimizing their strategies.
🔸Breakout Detection:
The indicator scans price movements for "Change in Character" (CHOCH) and "Break of Structure" (BOS) patterns, signaling potential breakout opportunities in the market.
🔸User-Defined TP/SL :
Traders can customize the Take Profit (TP) and Stop Loss (SL) through the indicator settings, with these levels dynamically calculated based on the Average True Range (ATR). This allows for precise risk management and profit targets that adapt to market volatility. Traders can also select the lookback period for the TP/SL calculations.
🔸Volume Analysis and Trade Direction Specific Analysis:
The indicator includes a volume checker that provides valuable insights into the strength of the breakout, taking into account trade direction.
🔸If the volume label is red and the trade is long, it suggests a higher likelihood of hitting the Stop Loss (SL).
🔸If the volume label is green and the trade is long, it indicates a higher probability of hitting the Take Profit (TP).
🔸For short trades, a red volume label suggests a higher likelihood of hitting TP, while a green label suggests a higher likelihood of hitting SL.
🔸A yellow volume label suggests that the volume is inconclusive, neither favoring bullish nor bearish movements.
🔸Data Table:
The indicator features a data table that keeps track of the number of winning and losing trades for specific timeframes or configurations. It also shows the percentage of profits vs losses, and the overall profit/loss for the selected lookback period.
This table serves as a valuable tool for traders to analyze performance and discover optimal settings and timeframes.
The "Smart Money Breakouts" indicator provides traders with a comprehensive solution for breakout trading, combining technical analysis of changes in character and breaks of structure, volume insights, and performance tracking while dynamically adjusting TP and SL levels based on market volatility through the ATR.
This version of the script is a "significant improvement" from Chart Prime's original work in the following ways:
- A selectable range of candles for the profit/loss calculations to look back on.
- An updated table that includes the percentage of wins/losses, and and overall P&L during the selected lookback range.
- The user can now select only Long trades, Short trades, or both.
- The percentage gain/loss is now indicated for every trade on the chart.
- The user can now select a different multiplier for Stop Loss or Take Profit thresholds.
VIX CANDLESThe VIX CANDLES indicator is designed to visualize the Williams VIX Fix, a volatility measure that mimics the VIX index but applies to different financial instruments.
This indicator calculates a custom "VIX-like" value based on the highest close over a specified look-back period and plots the result as candlesticks. It also includes an Exponential Moving Average (EMA) to help identify trends and potential buy/sell signals.
Williams VIX Fix Calculation: Measures volatility by comparing the current low to the highest close over the given period, then expressing the result as a percentage.
Custom Candles: The VIX Fix is displayed as a set of candlesticks where the body is colored based on whether the close is higher (green) or lower (red) than the open.
Exponential Moving Average (EMA): An EMA is applied to the VIX Fix value to smooth the data and identify trend changes. The EMA's length is customizable.
Trade Direction Labels: Labels are plotted when the VIX Fix crosses above or below the EMA, signaling potential buy (▽) or sell (△) opportunities.
Customization: Colors for the candlesticks and EMA, as well as the look-back period and EMA length, can be adjusted to suit your preferences.
This indicator is useful for traders looking to track volatility and identify potential trend shifts in the market. By combining the Williams VIX Fix with an EMA, it provides a more dynamic view of market conditions, helping traders spot extreme volatility and adjust their strategies accordingly.
Volume IQOverview
Volume IQ is meant to be the ‘intelligent volume distribution analyzer’ that takes much of the work of interpreting volume profiles off of your shoulders. It attempts to ‘do the technical analysis’ of volume data for you, with its capstone feature being "Trading Action Zones": ranges on the chart whose placement are determined by high and low volume nodes and sentiment analysis, and their adapting range affected by current volatility. These zones are meant to offer practical levels for potential entries, exits, targets, and stops while trading. These zones are the cherry on top of other useful and original features like visuals for grouping areas of similar buy/sell bias.
Originality and Usefulness
Volume IQ stands out for its originality by offering a data-driven approach to interpreting volume profiles and presenting its analysis on the chart. Unlike traditional volume profiles, Volume IQ automates much of the volume analysis process, helping traders identify potential opportunities and key trading areas with minimal effort. Its unique "Trading Action Zones" leverage high and low volume nodes, sentiment analysis, and current volatility to highlight practical levels for entries, exits, targets, and stops. Additionally, the tool provides grouped bias visuals, gradient coloring, and flexible customization options, allowing traders to gain a clearer understanding of market sentiment and structure. By simplifying complex volume data into actionable insights, Volume IQ provides a valuable and efficient resource for charting on TradingView.
The ‘Capstone’ Feature:
Trading ‘Action Zones’: Potential areas to take trading action based on built-in interpretations of high-volume nodes, low-volume nodes, and overarching chart sentiment (whose calculation is described below), and their interplay. Categorized by tiers - with Tier 2 zones intended as potential entry areas, and Tier 1 zones for exits or adds. These zones can also present logical areas to consider targets and stops, for example placing a stop loss in a Tier 1 sell zone below price where there is a series of low-volume nodes and potentially not much support. These zones help you quickly identify potential areas on the chart to ‘take action’.
Key Features:
Level and Block Biases: By estimating buying and selling volume, as well as leveraging intrabar data, the Volume IQ profile provides detailed buy/sell sentiment at individual price levels. It then groups together consecutive price levels with the same bias into what we call ‘Block Biases’ making it easy to determine larger price areas with distinct buying or selling pressure.
Chart Sentiment Analysis: A ‘continuously optimizing algorithm’ configured to find high average runups after a sentiment switch powers what we call ‘bias guidelines’ which border the Volume IQ profile and influence the determination of Action Zones. This algorithm is based on comparing many combinations of volume-weighted trends, largely based on smoothed volume weighted moving averages, on each bar, to ensure that the approach with the highest average runup amongst the combinations is used.
Zones of Control: A gradient-coloring approach to the profile highlighst areas of influence at a glance, making it easier to focus on key price levels.
Broad Compatibility: Works across all chart timeframes and market types - so long as volume data and OHLC candle data is available.
Highly Customizable: Configure features to align with your trading preferences and workflow. Show them all, or pick and choose the ones you want.
Settings
Use a Color Theme: Toggle between our predefined color themes or customize your own.
Style: Select your preferred color theme (e.g., "TI Fusion").
Colors (When Not Using a Theme): Customize primary, secondary, and background colors for your own non-theme styling.
Gradient Coloring: Enable or disable gradient shading of the profile for visual enhancement of zones with high control and low control.
Action Zones: Turn trading action zones on or off to highlight key trading levels.
Time Staggering: Enabling this option will simply ‘stagger’ the display of action zones horizontally. Zones closer to price will be placed leftwards, and as they become more distant from price, they will be ‘staggered out’ rightwards, to give an intuitive feel for the time it may take for price to reach these zones.
Tier Labels: Enable or disable the ‘tier labels’ (1 square for Tier 1, 2 squares for Tier 2) for action zones.
Bias Blocks: Toggle the display of grouped buy/sell bias blocks.
Extend: Choose how the bias blocks are displayed: “Left” to stretch them from the end to the beginning of the histogram, “Right” to extend from the end outwards, and “Across” to extend from the beginning to outwards past the end, enveloping the bias and volume count labels.
Opacity: Adjust the transparency level of bias blocks (0–100).
Level Bias Labels: Turn on/off labels for individual price level biases.
Bias Guidelines: Enable the visual guidelines for bias levels which border the profile.
Volume Counts: Toggle volume count labels for each of the profile’s price levels.
Split Buy/Sell Volume: Enable separate display of buy and sell volume for each level (buy volume on the left, sell volume on the right).
Font Size: Adjust the font size for these labels.
Histogram Display: Choose the display option for the histogram bars of the profile themselves: "Full View" will display the profile, and “None” will hide it.
BG Shading Logic: Adjust the background shading logic for the display: “Neutral” will use the ‘Neutral Color’ from your color theme to put some emphasis around high and low volume nodes, while “None” will remove any background shading.
Detail: This option allows you to set the granularity of the volume data used: “Bar Data” will simply use the bar data from the chart timeframe, while “Intrabar Data” will attempt to use bar data from a lower timeframe. Please note that using intrabar data may not be available with your TradingView subscription on some timeframes, and also that using intrabar data may increase calculation time.
Data Request: Choose the lookback for the volume distribution: "Long-term" will look back 500 bars, and “Short-Term” will halve this.
# of Levels: Specify the number of levels/rows to display for visualizing the distribution.
Trend Counter [BigBeluga]The Trend Counter indicator is designed to help traders identify trend conditions and potential reversals by counting the number of bars within a specified period that are above or below an average price level. By smoothing and averaging these counts, the indicator provides a clear visual representation of market trends and highlights key trend changes.
Key Features:
⦾ Trend Counting:
Counts bars above and below average price levels over a specified period.
Smooths and rounds the count for better visualization.
// Count bars over length period above highest and lowest avg with offset loop
float mid = math.avg(ta.highest(length), ta.lowest(length))
for offset = 0 to length -1
switch
hl2 > mid => counter += 1.0
=> counter := 0.0
// Smooth Count and Round
counter := math.round(ta.ema(counter > 400 ? 400 : counter, smooth))
// Count Avg
count.push(counter)
avg = math.round(count.avg())
⦿ Color Indication:
Uses gradient colors to indicate the strength of the trend.
Colors the background based on trend strength for easier interpretation.
⦿ Trend Signals:
Provides visual cues for trend changes based on the counter crossing predefined levels.
⦿ Potential Tops:
Identifies potential market tops using a specified length and highlights these levels.
⦿ Additional Features:
Displays Trend Counter value with arrows to indicate the direction of the trend movement.
Displays average trend count and level for reference.
⦿ User Inputs Description
Length: Defines the period over which the trend counting is performed.
Trend Counter Smooth: Specifies the smoothing period for the trend counter.
Level: Sets the threshold level for trend signals.
Main Color: Determines the primary color for trend indication.
The Trend Counter indicator is a powerful tool for traders seeking to identify and visualize market trends.
By counting and smoothing price bars above and below average levels, it provides clear and intuitive signals for trend strength and potential reversals.
With customizable parameters and visual cues, the Trend Counter enhances trend analysis and decision-making for traders of all levels.
FibExtender [tradeviZion]FibExtender : A Guide to Identifying Resistance with Fibonacci Levels
Introduction
Fibonacci levels are essential tools in technical analysis, helping traders identify potential resistance and support zones in trending markets. FibExtender is designed to make this analysis accessible to traders at all levels, especially beginners, by automating the process of plotting Fibonacci extensions. With FibExtender, you can visualize potential resistance levels quickly, empowering you to make more informed trading decisions without manually identifying every pivot point. In this article, we’ll explore how FibExtender works, guide you step-by-step in using it, and share insights for both beginner and advanced users.
What is FibExtender ?
FibExtender is an advanced tool that automates Fibonacci extension plotting based on significant pivot points in price movements. Fibonacci extensions are percentages based on prior price swings, often used to forecast potential resistance zones where price might reverse or consolidate. By automatically marking these Fibonacci levels on your chart, FibExtender saves time and reduces the complexity of technical analysis, especially for users unfamiliar with calculating and plotting these levels manually.
FibExtender not only identifies Fibonacci levels but also provides a customizable framework where you can adjust anchor points, colors, and level visibility to suit your trading strategy. This customization allows traders to tailor the indicator to fit different market conditions and personal preferences.
Key Features of FibExtender
FibExtender offers several features to make Fibonacci level analysis easier and more effective. Here are some highlights:
Automated Fibonacci Level Identification : The script automatically detects recent swing lows and pivot points to anchor Fibonacci extensions, allowing you to view potential resistance levels with minimal effort.
Customizable Fibonacci Levels : Users can adjust the specific Fibonacci levels they want to display (e.g., 0.618, 1.0, 1.618), enabling a more focused analysis based on preferred ratios. Each level can be color-coded for visual clarity.
Dual Anchor Points : FibExtender allows you to choose between anchoring levels from either the last pivot low or a recent swing low, depending on your preference. This flexibility helps in aligning Fibonacci levels with key market structures.
Transparency and Visual Hierarchy : FibExtender automatically adjusts the transparency of levels based on their "sequence age," creating a subtle visual hierarchy. Older levels appear slightly faded, helping you focus on more recent, potentially impactful levels.
Connection Lines for Context : FibExtender draws connecting lines from recent lows to pivot highs, allowing users to visualize the price movements that generated each Fibonacci extension level.
Step-by-Step Guide for Beginners
Let’s walk through how to use the FibExtender script on a TradingView chart. This guide will ensure that you’re able to set it up and interpret the key information displayed by the indicator.
Step 1: Adding FibExtender to Your Chart
Open your TradingView chart and select the asset you wish to analyze.
Search for “FibExtender ” in the Indicators section.
Click to add the indicator to your chart, and it will automatically plot Fibonacci levels based on recent pivot points.
Step 2: Customizing Fibonacci Levels
Adjust Levels : Under the "Fibonacci Settings" tab, you can enable or disable specific levels, such as 0.618, 1.0, or 1.618. You can also change the color for each level to improve visibility.
Set Anchor Points : Choose between "Last Pivot Low" and "Recent Swing Low" as your Fibonacci anchor point. If you want a broader view, choose "Recent Swing Low"; if you prefer tighter levels, "Last Pivot Low" may be more suitable.
Fib Line Length : Modify the line length for Fibonacci levels to make them more visible on your chart.
Step 3: Spotting Visual Clusters (Manual Analysis)
Identify Potential Resistance Clusters : Look for areas on your chart where multiple Fibonacci levels appear close together. For example, if you see 1.0, 1.272, and 1.618 levels clustered within a small price range, this may indicate a stronger resistance zone.
Why Clusters Matter : Visual clusters often signify areas where traders expect heightened price reaction. When levels are close, it suggests that resistance may be reinforced by multiple significant ratios, making it harder for price to break through. Use these clusters to anticipate potential pullbacks or consolidation areas.
Step 4: Observing the Price Action Around Fibonacci Levels
As price approaches these identified levels, watch for any slowing momentum or reversal patterns, such as doji candles or bearish engulfing formations, that might confirm resistance.
Adjust Strategy Based on Resistance : If price hesitates or reverses at a clustered resistance zone, it may be a signal to secure profits or tighten stops on a long position.
Advanced Insights (for Intermediate to Advanced Users)
For users interested in the technical workings of FibExtender, this section provides insights into how the indicator functions on a code level.
Pivot Point and Swing Detection
FibExtender uses a pivot-high and pivot-low detection function to identify significant price points. The upFractal and dnFractal variables detect these levels based on recent highs and lows, creating the basis for Fibonacci extension calculations. Here’s an example of the code used for this detection:
// Fractal Calculations
upFractal = ta.pivothigh(n, n)
dnFractal = ta.pivotlow(n, n)
By setting the number of periods for n, users can adjust the sensitivity of the script to recent price swings.
Fibonacci Level Calculation
The following function calculates the Fibonacci levels based on the selected pivot points and applies each level’s specific ratio (e.g., 0.618, 1.618) to project extensions above the recent price swing.
calculateFibExtensions(float startPrice, float highPrice, float retracePrice) =>
fibRange = highPrice - startPrice
var float levels = array.new_float(0)
array.clear(levels)
if array.size(fibLevels) > 0
for i = 0 to array.size(fibLevels) - 1
level = retracePrice + (fibRange * array.get(fibLevels, i))
array.push(levels, level)
levels
This function iterates over each level enabled by the user, calculating extensions by multiplying the price range by the corresponding Fibonacci ratio.
Example Use Case: Identifying Resistance in Microsoft (MSFT)
To better understand how FibExtender highlights resistance, let’s look at Microsoft’s stock chart (MSFT), as shown in the image. The chart displays several Fibonacci levels extending upward from a recent pivot low around $408.17. Here’s how you can interpret the chart:
Clustered Resistance Levels : In the chart, note the grouping of several Fibonacci levels in the range of $450–$470. These levels, particularly when tightly packed, suggest a zone where Microsoft may encounter stronger resistance, as multiple Fibonacci levels signal potential barriers.
Applying Trading Strategies : As price approaches this clustered resistance, traders can watch for weakening momentum. If price begins to stall, it may be wise to lock in profits on long positions or set tighter stop-loss orders.
Observing Momentum Reversals : Look for specific candlestick patterns as price nears these levels, such as bearish engulfing candles or doji patterns. Such patterns can confirm resistance, helping you make informed decisions on whether to exit or manage your position.
Conclusion: Harnessing Fibonacci Extensions with FibExtender
FibExtender is a powerful tool for identifying potential resistance levels without the need for manual Fibonacci calculations. It automates the detection of key swing points and projects Fibonacci extensions, offering traders a straightforward approach to spotting potential resistance zones. For beginners, FibExtender provides a user-friendly gateway to technical analysis, helping you visualize levels where price may react.
For those with a bit more experience, the indicator offers insight into pivot points and Fibonacci calculations, enabling you to fine-tune the analysis for different market conditions. By carefully observing price reactions around clustered levels, users can identify areas of stronger resistance and refine their trade management strategies accordingly.
FibExtender is not just a tool but a framework for disciplined analysis. Using Fibonacci levels for guidance can support your trading decisions, helping you recognize areas where price might struggle or reverse. Integrating FibExtender into your trading strategy can simplify the complexity of Fibonacci extensions and enhance your understanding of resistance dynamics.
Note: Always practice proper risk management and thoroughly test the indicator to ensure it aligns with your trading strategy. Past performance is not indicative of future results.
Trade smarter with TradeVizion—unlock your trading potential today!
Supertrend with EMASupertrend + EMA Indicator
This custom indicator combines the popular Supertrend and Exponential Moving Average (EMA) indicators to enhance trend analysis and signal accuracy. The Supertrend tracks price volatility to identify potential trend directions, while the EMA provides a smooth moving average to help refine entries and exits based on trend momentum.
Features:
Supertrend: Detects trend reversals by using price action and volatility, making it effective in trending markets.
Exponential Moving Average (EMA): Smoothens price fluctuations, helping you gauge the trend’s strength and filter out false signals.
Versatile for multiple timeframes and asset classes.
Ideal for traders looking to catch sustained trends and avoid false breakouts, this indicator offers an improved way to follow market momentum and confirm trend strength. Customize the Supertrend ATR multiplier and EMA length to suit your trading style and timeframe.
Ehlers Loops [BigBeluga]The Ehlers Loops indicator is based on the concepts developed by John F. Ehlers, which provide a visual representation of the relationship between price and volume dynamics. This tool helps traders predict future market movements by observing how price and volume data interact within four distinct quadrants of the loop, each representing different combinations of price and volume directions. The unique structure of this indicator provides insights into the strength and direction of market trends, offering a clearer perspective on price behavior relative to volume.
🔵 KEY FEATURES & USAGE
● Four Price-Volume Quadrants:
The Ehlers Loops chart consists of four quadrants:
+Price & +Volume (top-right) – Typically indicates a bullish continuation in the market.
-Price & +Volume (bottom-right) – Generally shows a bearish continuation.
+Price & -Volume (top-left) – Typically indicates an exhaustion of demand with a potential reversal.
-Price & -Volume (bottom-left) – Indicates exhaustion of supply and near trend reversal.
By watching how symbols move through these quadrants over time, traders can assess shifts in momentum and volume flow.
● Price and Volume Scaling in Standard Deviations:
Both price and volume data are individually filtered using HighPass and SuperSmoother filters, which transform them into band-limited signals with zero mean. This scaling allows traders to view data in terms of its deviation from the average, making it easier to spot abnormal movements or trends in both price and volume.
● Loops Trajectories with Tails:
The loops draw a trail of price and volume dynamics over time, allowing traders to observe historical price-volume interactions and predict future movements based on the curvature and direction of the rotation.
● Price & Volume Histograms:
On the right side of the chart, histograms for each symbol provide a summary of the most recent price and volume values. These histograms allow traders to easily compare the strength and direction of multiple assets and evaluate market conditions at a glance.
● Flexible Symbol Display & Customization:
Traders can select up to five different symbols to be displayed within the Ehlers Loops. The settings also allow customization of symbol size, colors, and visibility of the histograms. Additionally, traders can adjust the LPPeriod and HPPeriod to change the smoothness and lag of the loops, with a shorter LPPeriod offering more responsiveness and a longer HPPeriod emphasizing longer-term trends.
🔵 USAGE
🔵 SETTINGS
Low pass Period: default is 10 to
obtain minimum lag with just a little smoothing.
High pass Period: default is 125 (half of the year if Daily timeframe) to capture the longer term moves.
🔵 CONCLUSION
The Ehlers Loops indicator offers a visually rich and highly customizable way to observe price and volume dynamics across multiple assets. By using band-limited signals and scaling data into standard deviations, traders gain a powerful tool for identifying market trends and predicting future movements. Whether you're tracking short-term fluctuations or long-term trends, Ehlers Loops can help you stay ahead of the market by offering key insights into the relationship between price and volume.
CPR by NKDCentral Pivot Range (CPR) Trading Strategy:
The Central Pivot Range (CPR) is a widely-used tool in technical analysis, helping traders pinpoint potential support and resistance levels in the market. By using the CPR effectively, traders can better gauge market trends and determine favorable entry and exit points. This guide explores how the CPR works, outlines its calculation, and describes how traders can enhance their strategies using an extended 10-line version of CPR.
What Really Central Pivot Range (CPR) is?
At its core, the CPR consists of three key lines:
Pivot Point (PP) – The central line, calculated as the average of the previous day’s high, low, and closing prices.
Upper Range (R1) – Positioned above the Pivot Point, acting as a potential ceiling where price may face resistance.
Lower Range (S1) – Found below the Pivot Point, serving as a potential floor where price might find support.
Advanced traders often expand on the traditional three-line CPR by adding extra levels above and below the pivot, creating up to a 10-line system. This extended CPR allows for a more nuanced understanding of the market and helps identify more detailed trading opportunities.
Applying CPR for Trading Success
1. How CPR is Calculation
The CPR relies on the previous day's high (H), low (L), and close (C) prices to create its structure:
Pivot Point (PP) = (H + L + C) / 3
First Resistance (R1) = (2 * PP) - L
First Support (S1) = (2 * PP) - H
Additional resistance levels (R2, R3) and support levels (S2, S3) are calculated by adding or subtracting multiples of the previous day’s price range (H - L) from the Pivot Point.
2. Recognizing the Market Trend
To effectively trade using CPR, it’s essential to first determine whether the market is trending up (bullish) or down (bearish). In an upward-trending market, traders focus on buying at support levels, while in a downward market, they look to sell near resistance.
3. Finding Ideal Entry Points
Traders often look to enter trades when price approaches key levels within the CPR range. Support levels (S1, S2) offer buying opportunities, while resistance levels (R1, R2) provide selling opportunities. These points are considered potential reversal zones, where price may bounce or reverse direction.
4. Managing Risk with Stop-Loss Orders
Proper risk management is crucial in any trading strategy. A stop-loss should be set slightly beyond the support level for buy positions and above the resistance level for sell positions, ensuring that losses are contained if the market moves against the trader’s position.
5. Determining Profit Targets
Profit targets are typically set based on the distance between entry points and the next support or resistance level. Many traders apply a risk-reward ratio, aiming for larger potential profits compared to the potential losses. However, if the next resistance and support level is far then middle levels are used for targets (i.e. 50% of R1 and R2)
6. Confirmation Through Other Indicators
While CPR provides strong support and resistance levels, traders often use additional indicators to confirm potential trade setups. Indicators such as moving averages can
help validate the signals provided by the CPR.
7. Monitoring Price Action At CPR Levels
Constantly monitoring price movement near CPR levels is essential. If the price fails to break through a resistance level (R1) or holds firm at support (S1), it can offer cues on when to exit or adjust a trade. However, a strong price break past these levels often signals a continued trend.
8. Trading Breakouts with CPR
When the price breaks above resistance or below support with strong momentum, it may signal a potential breakout. Traders can capitalize on these movements by entering positions in the direction of the breakout, ideally confirmed by volume or other technical indicators.
9. Adapting to Changing Market Conditions
CPR should be used in the context of broader market influences, such as economic reports, news events, or geopolitical shifts. These factors can dramatically affect market direction and how price reacts to CPR levels, making it important to stay informed about external market conditions.
10. Practice and Backtesting for Improvements
Like any trading tool, the CPR requires practice. Traders are encouraged to backtest their strategies on historical price data to get a better sense of how CPR works in different market environments. Continuous analysis and practice help improve decision-making and strategy refinement.
The Advantages of Using a 10-Line CPR System
An extended 10-line CPR system—comprising up to five resistance and five support levels—provides more granular control and insight into market movements. This expanded view helps traders better gauge trends and identify more opportunities for entry and exit. Key benefits include:
R2, S2 Levels: These act as secondary resistance or support zones, giving traders additional opportunities to refine their trade entries and exits.
R3, S3 Levels: Provide an even wider range for identifying reversals or trend continuations in more volatile markets.
Flexibility: The broader range of levels allows traders to adapt to changing market conditions and make more precise decisions based on market momentum.
So in Essential:
The Central Pivot Range is a valuable tool for traders looking to identify critical price levels in the market. By providing a clear framework for identifying potential support and resistance zones, it helps traders make informed decisions about entering and exiting trades. However, it’s important to combine CPR with sound risk management and additional confirmation through other technical indicators for the best results.
Although no trading tool guarantees success, the CPR, when used effectively and combined with practice, can significantly enhance a trader’s ability to navigate market fluctuations.
TS CalculatorWhat is Trailing Stop?
A trailing stop is a type of stop-loss order that adjusts itself as the price of an asset moves in a favorable direction. It’s designed to lock in profits or limit losses by following the asset’s price movement. Here’s how it works:
How a Trailing Stop Works
Initial Setup: You set a trailing stop at a certain percentage or dollar amount below (for long trades) or above (for short trades) the current market price.
Price Movement: As the price moves in your favor, the trailing stop moves with it, maintaining the set distance.
Locking in Profits: If the price reverses direction by the set amount, the trailing stop triggers a market order to sell (for long trades) or buy (for short trades), locking in your profits or limiting your losses.
Example
Long Trade: If you buy a stock at $100 and set a trailing stop at 10%, the stop-loss order will initially be at $90. If the stock price rises to $120, the trailing stop moves up to $108 (10% below $120). If the price then drops to $108, the trailing stop triggers a sell order.
Short Trade: If you short a stock at $100 and set a trailing stop at 10%, the stop-loss order will initially be at $110. If the stock price falls to $80, the trailing stop moves down to $88 (10% above $80). If the price then rises to $88, the trailing stop triggers a buy order.
Benefits
Automated Risk Management: It helps manage risk without the need to constantly monitor the market.
Profit Protection: It locks in profits as the price moves in your favor.
Flexibility: It adjusts dynamically with the market price, unlike a fixed stop-loss order.
What this script does ?
This script plots the Trailing Stop from the point of entry to current date, until it hits the trailing stop. Some of the market did not give the trailing stop values exactly so this script may give you a wise view of that.
Variables
Date : Date with YYYY-MM-DD format
Time : Time with HH:MM:SS format
Entry Price : Activation Price of TS order
Bounceback Ratio : Ratio for TS
Order Type : Position of order as Long/Short
There is an also a table implemented which shows
Entry
Ratio
Position
Current Stop
For possible updates feel free to contact me via DM.
Pip's FinderPip's Finder is an indicator designed to Find
"Trend direction" and capture reliable price movements.
This is very simple and powerful tool which generate direction of price movement , this tool is based on the dynamic fibonacci retracement and extension mechansim forged from the basic idea of fibonacci concept and identifier of the trend mechansism blended in one indicator so it can give precisely accurate trend direction signals and it's easy to understand and use.
This tool is specially designed for USOIL (Crude oil WTI) and UKOIL (Brent) , In 5 Min TimeFrame.
After Asian session starts it gives signal which is approximately 300 to 500 pips ,in each signal (with accuracy of 85%+)
After European session starts it gives signal which is approximately 100 to 200 pips ,in each signal (with accuracy of 75%+)
After North American session starts it gives signal which is approximately 300 to 500 pips , in each signal (with accuracy of 85%+) , in this session it also signals for 1000 pips but it's risky to taril such a heavy price movement
How can we make our trades using this tool ?
- Signal generates as a Red Arrow above the candle which reflect downward direction and Green Arrow below the candle which reflect upward direction.
- Wait for the candle closing which ensures the signal generation.
- When next Candle breaks High or Low of the candle in which signal is generated our signal is confirmed and we are ready to capture pips as per our plan according to sessions.
(Note:If next candle after signal generator candle did not Break high or low of the signal candle we'll consider signal as False signal
For UPTREND -
Ex- If signal is generated for upward direction (Below the candle noted by green arrow) the next candle should have to Break the high of signal candle , If next candle did not break high our signal is not confirmed and we'll consider signal as false, and if price move in opposite direction and breaks the low of the signal candle we'll consider signal as False .
StopLoss should be below the candle of signal generating candle.
For DOWNTREND -
Ex- If signal is generated for Downward direction (Above the candle noted by Red arrow) the next candle should have to Break the low of signal candle , If next candle did not break low our signal is not confirmed and we'll consider signal as false , and if price move in opposite direction and breaks the high of the signal candle we'll consider signal as False.
StopLoss should be above the candle of signal generating candle.
Special Note:
If signal occur for any of the direction and in the next candle breaks high or low but in the same candle which breaks high or low again signal occured for opposite direction then we should look for SL of the previous signal candle is striked or not , if not striked then we should continue our trade until SL is not striked.
Note:
1. Price differs in brokers app ,should focus on Tradingview terminal for charts and do calculations based on this chart and signal generation.
2. Signal confirmed when the price crosses High or Low of signal generating candle .
3. Always take a look on Session wise price fluctuation for best accuracy.
4. Trade should be placed as soon as price breaks high or low.
This indicator is based on Fib and IDM so sometimes it generates false signals to eliminate these, Follow the Suggestion and Rule's you'll get best results.
Bullish/Bearish Sentiment Cycle Indicator Sentiment Cycle Indicator: Understanding Market Psychology Through Technical Analysis
Overview:
The Sentiment Cycle Indicator is a unique blend of multiple technical analysis tools designed to help traders visualize and capitalize on market sentiment shifts. This indicator combines RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), volume analysis, and sentiment cycle detection to provide actionable buy and sell signals. By monitoring the emotional stages that market participants go through—such as optimism, excitement, euphoria, anxiety, denial, panic, and depression—this indicator helps traders identify turning points in the market cycle.
Key Components and How They Work Together:
1. RSI (Relative Strength Index):
• The RSI is a momentum oscillator that measures the speed and change of price movements. In this indicator, the RSI is used to determine overbought or oversold conditions, which are then translated into signals for potential market sentiment shifts.
• Integration: The RSI provides the foundational layer to assess whether the market is generally bullish or bearish. When combined with MACD and volume analysis, it helps confirm the strength of a sentiment cycle phase.
2. MACD (Moving Average Convergence Divergence):
• MACD is a trend-following indicator that shows the relationship between two moving averages of a security’s price. It is used in this script to identify trend direction and momentum changes.
• Integration: MACD crossovers are aligned with RSI conditions to detect the shift between bullish and bearish market sentiments. The MACD’s ability to capture trend changes strengthens the identification of sentiment phases, such as “optimism” or “panic.”
3. Volume Analysis:
• Volume analysis is a critical component in understanding market sentiment. The indicator uses a moving average of volume to detect volume spikes, which often coincide with significant market moves or reversals.
• Integration: Volume spikes are used to gauge the intensity of sentiment changes. For example, high volume during a bullish or bearish sentiment phase is a strong confirmation of a market sentiment shift. This integration enhances the reliability of the buy and sell signals generated by the sentiment cycle logic.
4. Sentiment Cycles:
• The indicator identifies four main sentiment phases—Optimism, Excitement, Panic, and Depression—based on combinations of RSI, MACD, and volume data. These phases are visually represented on the chart through background color zones, allowing traders to see the prevailing market sentiment at a glance.
• Integration: The sentiment phases are determined by a combination of the RSI trend, MACD crossovers, and volume analysis. For example, a transition from “Panic” to “Optimism” is detected when the RSI recovers from oversold levels, MACD turns bullish, and volume spikes decrease. This comprehensive approach ensures that all signals are well-founded and based on multiple dimensions of market data.
5. Buy and Sell Signals:
• The buy and sell signals are generated based on crossovers and crossunders between sentiment phases. For example, a buy signal is triggered when the market moves from a “Depression” (oversold) phase to an “Optimism” phase. A sell signal is triggered when the market transitions from “Excitement” to “Panic.”
• Integration: These signals are refined by adding a minimum distance between consecutive signals to avoid noise and enhance the clarity of trading opportunities. This further ensures that signals are not generated too frequently, reducing the chance of false positives.
Justification for Combining These Components:
The combination of RSI, MACD, volume analysis, and sentiment detection into a single indicator offers a holistic approach to understanding market psychology. Here’s why this mashup is particularly effective:
• Comprehensive Sentiment Analysis: The integration of RSI and MACD provides a well-rounded view of both momentum and trend, while volume analysis adds a layer of intensity to confirm sentiment shifts.
• Reduced Noise and Enhanced Signal Quality: By using multiple indicators to filter signals, the indicator minimizes noise and reduces the likelihood of false signals. This is particularly beneficial for traders looking to capitalize on meaningful market turns rather than being whipsawed by minor fluctuations.
• Visual Clarity: The background color zones corresponding to different sentiment phases offer a clear, at-a-glance view of the market’s current state, allowing traders to make more informed decisions quickly.
• Unique Combination for Market Sentiment Detection: While many indicators focus on either trend, momentum, or volume independently, this mashup uniquely combines these elements to detect the market’s underlying emotional state, providing a more nuanced understanding of market behavior.
How to Use This Indicator:
• Buy Signal: Look for the green “Buy” label when the market transitions from a bearish sentiment (grey or red zones) to a bullish sentiment (green zone).
• Sell Signal: Look for the red “Sell” label when the market transitions from a bullish sentiment (blue zone) to a bearish sentiment (red or gray zones).
• Dynamic Background Zones: Use the background color zones to visually track the prevailing market sentiment phase and anticipate potential buy or sell signals.
Originality and Practical Application:
This indicator’s originality lies in its ability to seamlessly integrate multiple widely-used technical analysis tools (RSI, MACD, and Volume) into a single, comprehensive tool for detecting market sentiment shifts. By doing so, it provides traders with a practical, easy-to-use tool that adapts to various market conditions, making it suitable for both day trading and longer-term strategies.
Conclusion:
The “Sentiment Cycle Indicator” is designed to offer traders a powerful, unified approach to identifying market sentiment shifts. By combining momentum, trend, and volume analysis, it delivers a unique and efficient way to navigate the complexities of market psychology, ultimately providing traders with an edge in understanding and predicting market movements.
Periodical Trend [BigBeluga]The Periodical Trend indicator is designed to provide a detailed analysis of market trends and volatility. It utilizes a combination of Moving Averages and volatility measures to plot trend line, highlight potential trend reversals, and indicate mean reversion opportunities. The indicator offers customizable display options, allowing traders to adjust for sensitivity, volatility bands, and price deviation visibility.
🔵 KEY FEATURES
● Periodical Trend Analysis
Uses (high + volatility) or (low - volatility) as the foundation for trend analysis with a set period.
// Condition to update the AVG array based on the selected mode
if mode == "Normal"
? bar_index == 122
: bar_index % period == 0
AVG.push(close) // Add the close price to the AVG array
// Update AVG array based on the period and price comparison
if bar_index % period == 0
if close > AVG.last() // If the current close is greater than the last stored value in AVG
AVG.push(low - vlt) // Add the low price minus volatility to the array
if close < AVG.last() // If the current close is lower than the last stored value in AVG
AVG.push(high + vlt) // Add the high price plus volatility to the array
Provides adjustable sensitivity modes ("Normal" and "Sensitive") for different market conditions.
Trend direction is visualized with dynamic color coding based on the relationship between the trend line and price.
● Volatility Bands
Displays upper and lower volatility bands derived from a moving average of price volatility (high-low).
The bands help identify potential breakout zones, overbought, or oversold conditions.
Users can toggle the visibility of the bands to suit their trading style.
● Mean Reversion Signals
Detects mean reversion opportunities when price deviates significantly from the trend line.
Includes both regular and strong mean reversion signals, marked directly on the chart.
Signals are based on oscillator crossovers, offering potential entry and exit points.
● Price Deviation Oscillator
Plots an oscillator that measures the deviation of price from the average trend line.
The oscillator is normalized using standard deviation, highlighting extreme price deviations.
Traders can choose to display the oscillator for in-depth analysis of price behavior relative to the trend.
● Dynamic Trend Coloring
The indicator colors the background on the direction of the trend.
Green indicates bullish trends, while blue indicates bearish trends.
The trend colors adapt dynamically to market conditions, providing clear visual cues for traders.
🔵 HOW TO USE
● Trend Analysis
The trend line represents the current market direction. A green trend line suggests a bullish trend, while a blue trend line indicates a bearish trend.
Use the trend line in conjunction with volatility bands to confirm potential breakouts or areas of consolidation.
● Volatility Bands
Volatility bands offer insight into potential overbought or oversold conditions.
Price exceeding these bands can signal a strong trend continuation or a possible reversal.
● Mean Reversion Strategies
Look for mean reversion signals (regular and strong) when price shows signs of reverting to the trend line after significant deviation.
Regular signals are represented by small dots, while strong signals are represented by larger circles.
These signals can be used as entry or exit points, depending on the market context.
● Price Deviation Analysis
The oscillator provides a detailed view of price deviations from the trend line.
A positive oscillator value indicates that the price is above the trend, while a negative value suggests it is below.
Use the oscillator to identify potential overbought or oversold conditions within the trend.
🔵 USER INPUTS
● Period
Defines the length of the period used for calculating the trend line. A higher period smooths out the trend, while a shorter period makes the trend line more sensitive to price changes.
● Mode
Choose between "Normal" and "Sensitive" modes for trend detection. The "Sensitive" mode responds more quickly to price changes, while the "Normal" mode offers smoother trend lines.
● Volatility Bands
Toggle the display of upper and lower volatility bands. These bands help identify potential areas of price exhaustion or continuation.
● Price Deviation
Toggle the display of the price deviation oscillator. This oscillator shows the deviation of the current price from the trend line and highlights extreme conditions.
● Mean Reversion Signals
Toggle the display of mean reversion signals. These signals highlight potential reversal points when the price deviates significantly from the trend.
● Strong Mean Reversion Signals
Toggle the display of stronger mean reversion signals, which occur at more extreme deviations from the trend.
● Width
Adjust the thickness of the trend line for better visibility on the chart.
🔵 CONCLUSION
The Periodical Trend indicator combines trend analysis, volatility bands, and mean reversion signals to provide traders with a comprehensive tool for market analysis. By offering customizable display options and dynamic trend coloring, this indicator can adapt to different trading styles and market conditions. Whether you are a trend follower or a mean reversion trader, the Periodical Trend indicator helps identify key market opportunities and potential reversals.
For optimal results, it is recommended to use this indicator alongside other technical analysis tools and within the context of a well-structured trading strategy.
Market Flow with Convergence🟪 Overview
The "Market Flow with Convergence" indicator leverages advanced volume metrics to accurately measure the underlying market pressure by analyzing the cumulative buying and selling volumes with the TICK index. This unique combination helps identify potential market reversals and trends, providing a comprehensive view of market flow. The indicator is particularly useful for those looking to capture convergence and divergence signals, crucial for making informed trading decisions.
🟪 Features
Volume-Based Convergence: Calculates the buying and selling pressures based on volume data, to produce color coded convergence. Visually represents areas where buying or selling pressures align.
Divergence Detection: Identifies and visually represents areas where buying and selling pressures diverge from each other, which can indicate key market turning points.
TICK Index: Incorporates data from the TICK index, normalizing and smoothing the cumulative data to highlight potential market reversals and trends.
Cumulative Flow Crossovers: Identifies and visually represents areas where buying and selling pressures crossover and become the dominant market flow.
Customizable Visualization: Uses conditional coloring and shapes to provide a clear, easy-to-interpret visual representation of the market state, making it easier to spot critical signals at a glance.
🟪 How it Works
Leveraging a combination of volume analysis and market breadth data, particularly the TICK index, to assess the underlying market pressure. By normalizing key market metrics, the indicator provides a clear view of buying and selling activity over time. The flow is standard across all charts, but convergence will change based on the charts ticker.
The indicator tracks and aggregates movements in the TICK index, allowing for an assessment of the market's cumulative momentum. This cumulative measure, combined with volume-based analysis, helps traders identify potential shifts in market trends, whether they be continuations or reversals.
The visual output of the indicator is designed to be intuitive and actionable. Key market conditions are highlighted through color-coded histograms and plot shapes, making it easy to interpret the data and apply it in real-time trading scenarios.
Understanding the Convergence Color Codes
Gray: represent periods of the markets lack of convergence, where neither buyers nor sellers have a decisive advantage. These conditions may indicate market indecision or a potential reversal point. The gray bars can also suggest a period of consolidation before a significant move.
Green: this indicates that buying pressure is greater than selling pressure, suggesting a bullish market condition. This is typically seen when the market may be trending upwards or when buyers are gaining control.
Red: signifies that selling pressure exceeds buying pressure, indicating a bearish market condition. This can be a signal that the market is trending downwards or that sellers are dominating the market.
Understanding Flow Crossovers
Green Dots: correspond to crossovers where the buying pressure (from the TICK) crosses above the selling pressure. This crossover often signals a potential upward move or a bullish market opportunity.
Red Dots: indicate a crossover where the selling pressure (from the TICK) crosses above the buying pressure. This crossover typically suggests a potential downward move or a bearish market signal.
🟪 Usage Examples
If the selling flow is consistently over buying and convergence is red, it indicates a strong and sustained bearish trend. This points to a potential downward move, with sellers predominantly in control.
When the buying flow is consistently over selling and convergence is green, it indicates a strong and sustained bullish trend. This can lead to a potential upward move, with buyers predominantly in control.
No convergence can mean it's time to be cautious. This could be a sign of market indecision, and it's often wise to wait for confirmation. This can lead to sideways market conditions or inverse of the current dominant flow.
🟪 Settings
This indicator does not require any user inputs as it automatically calculates the necessary data based on the ticker's price and volume information. It’s ready to use immediately upon application to any chart.
🟪 Limitations
This indicator is only works during the New York session of trading. It's flow values will not function outside of that trading session.
🟪 Conclusion
We believe in providing user-friendly tools to help speed up traders technical analysis and implement easy trading strategies. The "Market Flow with Convergence" offers a unique way to gauge prevailing market conditions, with simple visual cues for identifying trends.
🟪 Risk Disclaimer
All content, tools, scripts & education provided, are for informational & educational purposes only. Trading is risk and most lose their money, past performance does not guarantee future results.
VWAP Bands [TradingFinder] 26 Brokers Data (Forex + Crypto)🔵 Introduction
Indicators are tools that help analysts predict the price trend of a stock through mathematical calculations on price or trading volume. It is evident that trading volume significantly impacts the price trend of a stock symbol.
The Volume-Weighted Average Price (VWAP) indicator combines the influence of trading volume and price, providing technical analysts with a practical tool.
This technical indicator determines the volume-weighted average price of a symbol over a specified time period. Consequently, this indicator can be used to identify trends and entry or exit points.
🟣 Calculating the VWAP Indicator
Adding the VWAP indicator to a chart will automatically perform all calculations for you. However, if you wish to understand how this indicator is calculated, the following explains the steps involved.
Consider a 5-minute chart. In the first candle of this chart (which represents price information in the first 5 minutes), sum the high, low, and close prices, and divide by 3. Multiply the resulting number by the volume for the period and call it a variable (e.g., X).
Then, divide the resulting output by the total volume for that period to calculate your VWAP. To maintain the VWAP sequence throughout the trading day, it is necessary to add the X values obtained from each period to the previous period and divide by the total volume up to that time. It is worth noting that the calculation method is the same for intervals shorter than a day.
The mathematical formula for this VWAP indicator : VWAP = ∑ (Pi×Vi) / ∑ Vi
🔵 How to Use
Traders might consider the VWAP indicator as a tool for predicting trends. For example, they might buy a stock when the price is above the VWAP level and sell it when the price is below the VWAP.
In other words, when the price is above the VWAP, the price is rising, and when it is below the VWAP, the price is falling. Major traders and investment funds also use the VWAP ratio to help enter or exit stocks with the least possible market impact.
It is important to note that one should not rely solely on the VWAP indicator when analyzing symbols. This is because if prices rise quickly, the VWAP indicator may not adequately describe the conditions. This indicator is generally used for daily or shorter time frames because using longer intervals can distort the average.
Since this indicator uses past data in its calculations, it can be considered a lagging indicator. As a result, the more data there is, the greater the delay.
🟣 Difference Between VWAP and Simple Moving Average
On a chart, the VWAP and the simple moving average may look similar, but these two indicators have different calculations. The VWAP calculates the total price considering volume, while the simple moving average does not consider volume.
In simpler terms, the VWAP indicator measures each day's price change relative to the trading volume that occurred that day. In contrast, the simple moving average implicitly assumes that all trading days have the same volume.
🟣 Reasons Why Traders Like the VWAP Indicator
The VWAP Considers Volume: Since VWAP takes volume into account, it can be more reliable than a simple arithmetic average of prices. Theoretically, one person can buy 200,000 shares of a symbol in one transaction at a single price.
However, during the same time frame, 100 other people might place 200 different orders at various prices that do not total 100,000 shares. In this case, if you only consider the average price, you might be mistaken because trading volume is ignored.
The Indicator Can Help Day Traders: While reviewing your trades, you might notice that the shares you bought at market price are trading below the VWAP indicator.
In this case, there's no need to worry because with the help of VWAP, you always get a price below the average. By knowing the volume-weighted average price of a stock, you can easily make an informed decision about paying more or less than other traders for the stock.
VWAP Can Signal Market Trend Changes: Buying low and selling high can be an excellent strategy for individuals. However, you are looking to buy when prices start to rise and sell your shares when prices start to fall.
Since the VWAP indicator simulates a balanced price in the market, when the price crosses above the VWAP line, one can assume that traders are willing to pay more to acquire shares, and as a result, the market will grow. Conversely, when the price crosses below the line, this can be considered a sign of a downward movement.
🔵 Setting
Period : Indicator calculation time frame.
Source : The Price used for calculations.
Market Ultra Data : If you turn on this feature, 26 large brokers will be included in the calculation of the trading volume.
The advantage of this capability is to have more reliable volume data. You should be careful to specify the market you are in, FOREX brokers and Crypto brokers are different.
Multiplier : Coefficient of band lines.
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.
Linear Regression ChannelLinear Regression Channel with Logarithmic Scale Option
This advanced Linear Regression Channel indicator offers traders a powerful tool for technical analysis, with unique features that set it apart from standard implementations.
Key Features:
Logarithmic Scale Option: One of the most distinctive aspects of this indicator is the ability to switch between classic and logarithmic scales. This feature is particularly valuable for long-term analysis, as it ensures that equal percentage changes are represented equally, regardless of the price level.
Flexible Start Date: Unlike many indicators that rely on a fixed number of periods, this tool allows users to set a specific start date and time. This feature provides precise control over the regression analysis timeframe, enhancing its adaptability to various trading strategies.
Customizable Channel Settings: Users can adjust the upper and lower deviation multipliers, allowing for fine-tuning of the channel width to suit different market conditions and trading styles.
Trend Strength Indicator: An optional feature that displays the strength of the trend based on the Pearson correlation coefficient, offering additional insight into the reliability of the current trend.
Comprehensive Visual Customization: The indicator offers extensive color and style options for the regression line, upper and lower channel lines, and fill areas, allowing traders to create a visually appealing and easy-to-read chart setup.
Extended Line Options: Users can choose to extend the regression lines to the left, right, or both, facilitating projection and analysis of future price movements.
Multiple Alert Conditions: The indicator includes four alert conditions for crossing the upper deviation, lower deviation, and the main regression line in both directions, enhancing its utility for active traders.
Why Choose This Indicator:
The combination of logarithmic scale option and flexible start date setting makes this Linear Regression Channel uniquely suited for both short-term and long-term analysis. The logarithmic scale is particularly beneficial for analyzing assets with significant price changes over time, as it normalizes percentage moves across different price levels. This feature, coupled with the ability to set a precise start date, allows traders to perform more accurate and relevant regression analyses, especially when studying specific market cycles or events.
Moreover, the trend strength indicator and customizable visual elements provide traders with a comprehensive tool that not only identifies potential support and resistance levels but also offers insight into the reliability and strength of the current trend.
In summary, this Linear Regression Channel indicator combines flexibility, precision, and insightful analytics, making it an invaluable tool for traders seeking to enhance their technical analysis capabilities on TradingView.
MTF WaveTrend [CryptoSea]The MTF WaveTrend Indicator is a sophisticated tool designed to enhance market analysis through multi-timeframe WaveTrend calculations. This tool is built for traders who seek to identify market momentum and potential reversals with higher accuracy.
In the example below, we can see all the choosen timeframes agree on bearish momentum.
Key Features
Multi-Timeframe WaveTrend Analysis: Tracks WaveTrend values across multiple timeframes to provide a comprehensive view of market momentum.
Customizable Colour Rules: Offers three different colour rules (Traditional, WT1 0 Rule, WT1 & WT2 0 Rule) to suit various trading strategies.
Timeframe Visibility Control: Allows users to enable or disable specific timeframes, providing flexibility in analysis.
Clear Visual Indicators: Uses color-coded squares and labels to clearly display WaveTrend status across different timeframes.
Candle Colouring Option: Includes a setting for neutral candle coloring to enhance chart readability.
This example shows what can happen when all timeframes start alligning with eachother.
How it Works
WaveTrend Calculation: Computes the WaveTrend oscillator by applying a series of exponential moving averages and scaling calculations.
Multi-Timeframe Data Aggregation: Utilizes the `request.security` function to gather and display WaveTrend values from various timeframes without repainting issues.
Conditional Plotting: Displays visual cues only when higher timeframes align with the selected timeframe, ensuring relevant and reliable signals.
Dynamic Colour Rules: Adjusts the indicator colors based on the chosen rule, whether it's a traditional crossover, WT1 crossing zero, or both WT1 & WT2 crossing zero.
Traditional: Colors are determined by the relationship between WT1 and WT2. If WT1 is greater than WT2, it is bullish (bullColour), otherwise bearish (bearColour).
WT1 0 Rule: Colors are based on whether WT1 is above or below zero. WT1 above zero is bullish (bullColour), below zero is bearish (bearColour).
WT1 & WT2 0 Rule: A more complex rule where both WT1 and WT2 need to be above zero for a bullish signal (bullColour) or both below zero for a bearish signal (bearColour). If WT1 and WT2 are not in agreement, a neutral color (neutralColour) is displayed.
This indicator will make sure that the lowest timeframe you can see data from will be the timeframe you are on. This is to avoid false signals as you cannot display 3 x 5 minute candles whilst looking at the 15 minute candle.
Application
Strategic Decision-Making: Assists traders in making informed decisions by providing detailed analysis of WaveTrend movements across different timeframes.
Trend Confirmation: Reinforces trading strategies by confirming potential reversals with multi-timeframe WaveTrend analysis.
Customized Analysis: Adapts to various trading styles with extensive input settings that control the display and sensitivity of WaveTrend data.
The MTF WaveTrend Indicator by is an invaluable addition to a trader's toolkit, offering depth and precision in market trend analysis to navigate complex market conditions effectively.
Buy-Sell Volume Bar Gauge [By MUQWISHI]▋ INTRODUCTION :
The Buy-Sell Volume Bar Gauge is developed to provide traders with a detailed analysis of volume in bars using a low timeframe, such as a 1-second interval, to measure the dominance of buy and sell for each bar. By highlighting the balance between buying and selling activities, the Buy-Sell Volume Bar Gauge helps traders identify potential volume momentum of a bar; aimed at being a useful tool for day traders and scalpers.
_______________________
▋ OVERVIEW:
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▋ METHODOLOGY:
The concept is based on bars from a lower timeframe within the current chart timeframe bar, where volume is categorized into Up, Down, and Neutral Volume, with each one displayed as a portion of a column plot. Up Volume is recorded when the price experiences a positive change, Down Volume occurs when the price experiences a negative change, and Neutral Volume is observed when the price shows no significant change.
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▋ INDICATOR SETTINGS:
(1) Fetch data from the selected lower timeframe. Note: If the selected timeframe is invalid (higher than chart), the indicator will automatically switch to 1 second.
(2) Price Source.
(3) Treating Neutral Data (Price Source) as
Neutral: In a lower timeframe, when the bar has no change in its price, the volume is counted as Neutral Volume.
Previous Move: In a lower timeframe, when the bar has no change in its price, the volume is counted as the previous change; “Up Volume” if the previous change was positive, and “Down Volume” if the previous change was negative.
Opposite Previous Move: In a lower timeframe, when the bar has no change in its price, the volume is counted as the opposite previous change; “Up Volume” if the previous change was negative, and “Down Volume” if the previous change was positive.
(4) Average Volume Length, it's used for lighting/darkening columns in a plot.
(5) Enable Alert.
(7) Total bought (%) Level.
(8) Total Sold (%) Level.
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▋ COMMENT:
The Buy-Sell Volume Bar Gauge can be taken as confirmation for predicting the next move, but it should not be considered a major factor in making a trading decision.
Cosine Kernel Regressions [QuantraSystems]Cosine Kernel Regressions
Introduction
The Cosine Kernel Regressions indicator (CKR) uses mathematical concepts to offer a unique approach to market analysis. This indicator employs Kernel Regressions using bespoke tunable Cosine functions in order to smoothly interpret a variety of market data, providing traders with incredibly clean insights into market trends.
The CKR is particularly useful for traders looking to understand underlying trends without the 'noise' typical in raw price movements. It can serve as a standalone trend analysis tool or be combined with other indicators for more robust trading strategies.
Legend
Fast Trend Signal Line - This is the foreground oscillator, it is colored upon the earliest confirmation of a change in trend direction.
Slow Trend Signal Line - This oscillator is calculated in a similar manner. However, it utilizes a lower frequency within the cosine tuning function, allowing it to capture longer and broader trends in one signal. This allows for tactical trading; the user can trade smaller moves without losing sight of the broader trend.
Case Study
In this case study, the CKR was used alongside the Triple Confirmation Kernel Regression Oscillator (KRO)
Initially, the KRO indicated an oversold condition, which could be interpreted as a signal to enter a long position in anticipation of a price rebound. However, the CKR’s fast trend signal line had not yet confirmed a positive trend direction - suggesting that entering a trade too early and without confirmation could be a mistake.
Waiting for a confirmed positive trend from the CKR proved beneficial for this trade. A few candles after the oversold signal, the CKR's fast trend signal line shifted upwards, indicating a strong upward momentum. This was the optimal entry point suggested by the CKR, occurring after the confirmation of the trend change, which significantly reduced the likelihood of entering during a false recovery or continuation of the downtrend.
This is one of the many uses of the CKR - by timing entries using the fast signal line , traders could avoid unnecessary losses by preventing premature entries.
Methodology
The methodology behind CKR is a multi-layered approach and utilizes many ‘base’ indicators.
Relative Strength Index
Stochastic Oscillator
Bollinger Band Percent
Chande Momentum Oscillator
Commodity Channel Index
Fisher Transform
Volume Zone Oscillator
The calculated output from each indicator is standardized and scaled before being averaged. This prevents any single indicator from overpowering the resulting signal.
// ╔════════════════════════════════╗ //
// ║ Scaling/Range Adjustment ║ //
// ╚════════════════════════════════╝ //
RSI_ReScale (_res ) => ( _res - 50 ) * 2.8
STOCH_ReScale (_stoch ) => ( _stoch - 50 ) * 2
BBPCT_ReScale (_bbpct ) => ( _bbpct - 0.5 ) * 120
CMO_ReScale (_chandeMO ) => ( _chandeMO * 1.15 )
CCI_ReScale (_cci ) => ( _cci / 2 )
FISH_ReScale (_fish1 ) => ( _fish1 * 30 )
VZO_ReScale (_VP, _TV ) => (_VP / _TV) * 110
These outputs are then fed into a customized cosine kernel regression function, which smooths the data, and combines all inputs into a single coherent output.
// ╔════════════════════════════════╗ //
// ║ COSINE KERNEL REGRESSIONS ║ //
// ╚════════════════════════════════╝ //
// Define a function to compute the cosine of an input scaled by a frequency tuner
cosine(x, z) =>
// Where x = source input
// y = function output
// z = frequency tuner
var y = 0.
y := math.cos(z * x)
Y
// Define a kernel that utilizes the cosine function
kernel(x, z) =>
var y = 0.
y := cosine(x, z)
math.abs(x) <= math.pi/(2 * z) ? math.abs(y) : 0. // cos(zx) = 0
// The above restricts the wave to positive values // when x = π / 2z
The tuning of the regression is adjustable, allowing users to fine-tune the sensitivity and responsiveness of the indicator to match specific trading strategies or market conditions. This robust methodology ensures that CKR provides a reliable and adaptable tool for market analysis.
