Retail Insider Trend Following (HTF ONLY)Before I begin, here is a disclaimer: None of this is financial advice, and I'll recommend you to do your own research or talk to your financial advisor, if you want to use this. And also make sure you understand the risks properly before taking any trades. This particular indicator is a work of experiment, and I am publishing the optimized code. Please leave a comment below if you have any queries.
As per the logic, I am taking the highest point in a particular time window (used the in built ta.highest function) , and the lowest point in a particular time window (used the ta.lowest), and averaged it using the in built function (
RMA(which is the B33 Mean.)
For the offset, I am simply calculating and adding some values (which can also be input by the user.)
and this user input is in percentage.
So if you observe the lines, the Red line in between is the mean, and the Yellow lines are the offsets. (Everything can be changed in settings)
In simple layperson terms, if the price goes above the Red line, it's an uptrend,
and if the price goes below the Red line, it is in a downtrend.
Now I just wanted to keep the offset because I wanted more confirmation before actually entering a trade. (the offset can be changed again, from the settings, and the offset is in percentage)
A lot of times, you will see that the price is kind of going sideways, where, a lot of traders get trapped, as there is no clear trend.
So in order to eliminate that choppy price action and stay out, I'm using this offset. This should probably save a lot of bad trades.
So basically, if the price goes and closes above the higher offset, it will confirm a trend change, and a possible bull market.
Similarly, if the price goes and closes below the lower offset, it will confirm the end of the bull market, or a corrective phase, or a bear market.
A few things to note, however...
If you change the timeframe, you will see that the lines are not shifting/changing that much. This is because, it will consider the highest and the lowest points and average it.
So, basically, if you do the math, you will understand why,... and this logic is purely for a higher timeframe analysis/confirmation.
I'll personally recommend this kind of a setup for swing trading/confirmation on the daily or the 4H charts, mostly for longer timeframes. (If you are on the pro/pro+ or premium, you can try out 6H or 12H timeframes as well)
If you are looking for scalping, setups and indicators, this is not the right one.
If you liked it, don't forget to give a follow :)
Trendfollowing
ZigZag WavesHello All,
I am here with a new idea and script, " Zigzag Waves ". This indicator creates 3 Zigzags with different lengths, keeps the lengths of each zigzag wave and calculates/draws average waves for each zigzag. optionally it can reset the wave when zigzag direction changes and new highest/lowest found. And optionally it draws Exponential Moving Average(EMA) of the sum of waves. This idea is very new and at the moment there is no optimization for the Zigzag Periods. Maybe we altogether can improve the idea and find the best zigzag periods for different symbols and time frames.
Using the options You can play with the periods, add/remove EMA, set its color and reset the waves on new Highest/Lowest. As far as I see resetting the waves on new Highest/Lowest may bring better results.
if we enable "Reset the waves on new Highest/Lowest":
Using different periods and EMA length:
P.S. if you have ideas to improve this script, drop a comment under the script please.
Enjoy!
ROC PercentileRate Of Change Percentile calculates the current ROC (user defined length) as a percentile rank.
We use 2 separate arrays, one for all positive ROC values and one for all negative values within a defined lookback period. Then the current ROC value is compared to those arrays to find it's percentile ranking.
For example, a ranking of 75 means the ROC is in the 75th percentile of all POSITIVE ROC values over the lookback period.
A ranking of -80 is in the 80th percentile of all NEGATIVE ROC values over the lookback period.
Most ROC scripts use raw ROC values (or smoothed or otherwise altered), or have stochastic formula applied to them, I've not seen one that displays ROC as percentile ranking of previous positive/negative values.
What is the advantage?
Raw ROC data only gives half the picture. What we want to do is compare the ROC to previous ROC values, to give a sense of scale. Raw ROC values don't give you that context and you can only compare visually, usually limited to the number of bars you can see on your screen.
Using a percentile ranking gives us the context of current Rate of Change relative to the previous Rate of Change over a large lookback period, and not just visually but mathematically.
Why not using a long stochastic ROC? The problem with stochastics in general is that an outlier data point can ruin the data for the rest of the lookback period.
For example, imagine a huge outlier 8% ROC. The 2nd largest ROC is 4% and the 3rd largest is 2%, with all other values below this.
In this example, a stochastic ROC would display the 8% outlier as 100, the 4% as 50, the 2% as 25 and all other data would be squeezed down between 0-25.
Additionally, a value of 60 may have vastly different meaning depending on whether the lookback period contains a large outlier or not.
With a percentile ranking, that 8% outlier would still have a value of 100. But the 4% and 2% would be 99 and 98 respectively (this assumes 100 data points in the series, in reality values will usually be decimals).
This effectively flattens the curve and gives a more consistent and dependable experience, allowing you to more accurately assess the relative importance of the current ROC.
The line of circles is set at the 50 and -50 values for quick comparison.
Values > 50 represent ROC greater than 50% of previous positive ROC values.
Values < -50 represent ROC greater than 50% of previous negative ROC values.
EMA 3/5/10/20/50/100/200Trend follow the fastest moving stocks with the right EMAs to trail your stops.
High-Low IndexHello All,
High-Low Index is a breadth indicator based on Record High Percent (RHP). RHP is based on new 52-week highs and new 52-week lows. RHP => 100 * (new highs) / (new highs + new lows). High-Low Index is a 10-day Simple Moving Average of the RHP, which makes it a smoothed version of RHP. You can find many articles about High-Low Index on the net.
High-Low Index above 50 indicates that there are more new highs than new lows, and considered as Bullish.
High-Low Index below 50 indicates that there are more new lows than new highs, and considered as Bearish.
High-Low Index = 0 indicates there is no new highs (0% new highs).
High-Low Index = 100 indicates that there is at least 1 new high and no new lows.
and High-Low Index = 50 indicates that new highs and new lows is equal.
by default 40 cryptos are used in the script and shows High-Low Index for these cryptos. but you can change them as you wish. for example you can set all of them as stocks and see High-Low Index for these stocks.
You can set " Time frame " and the " Length " using the options. For example; if you set " Time frame " = 1 Week and the " Length " = 52 then it finds High-Low Index for 52weeks .
or another example; if you set " Time frame " = 1 Day and the " Length " = 22 the High-Low Indexn it finds High-Low Index for 22days.
You can enable/disable Record High Percent or Simple Moving Average of High-Low Index. Some traders use High-Low Index with its SMA, for example; High-Low Index generates a buy signal when it crosses above its moving average, and a sell signal when it crosses below its moving average.
Optionally you can see the securities in a table on the left bottom, you can change table size by usşng the options.
In the Table, for each security/cell;
=> if background is green then it has New High
=> if background is red then it has New Low
=> if background is gray then no New High, no New Low
=> if background is back then Data is not available for the security
As you can see in the screenshot below, the securities were changed and stocks are used instead of cryptos, so it calculates & shows High-Low Index for these stocks.
you can also find explanation in this screenshot:
Enjoy!
EneX SignalEneX is signal that give recommendation signals for entry and exit on spot market. This indicators not suitable for leverage trading in futures market.
EneX signal consider several indicators and has entry and exit rules.
EneX signal is suitable for investors who believe in trend following strategy (disclaimer on).
This script composed by Yohan Naftali for educational purpose only. Reader who will use this signal must do own research.
Indicator and Plot Involved
1. Williams Fractals with default periods = 2
2. William Alligator Indicators with default simple moving average 8, 13, and 21
3. Exponential Moving Averages with default value EMA 50, 100, and 200
4. Relative Strength Index with default overbought level = 80 and oversold level = 20
5. Williams Fractals are joined to create support and resistance line and fill area between support and resistance lines.
Entry signal conditions
1. Entry on Weakness when bullish fractal appear on n/2 period
2. Entry when price break resistance line
All entry condition must above EMA and alligator signal and not in overbought RSI
Exit signal conditions
1. Lowest price is below Exponential Moving Average
2. Lowest price is below William alligator lines
You can easily find entry and exit points by using Entry (E), Exit(X) signals
How to use
1. Monitor chart and wait until E or X signals
2. Entry if Entry Signal (E) appear (green colored label)
3. Exit if Exit Signal (X) appear (red colored label)
4. Change indicators setting when necessary
Best Practice
1. Entry only when entry signal (E) appear
2. Never entry when price below William alligator signal
3. Exit when exit signal (X) appear
4. Not exit when exit signal appear when you believe or you have information that price will be rebound
5. Exit if you believe that current price meet your target price
6. Always wise when use EneX signals
Disclaimer
Do your own research and consider fundamental price of asset.
The indicators provided on this script is for educational purposes only.
Author does not offer advisory or brokerage services, nor does it recommend or advise users to buy or sell particular stocks or securities.
Please examined script and give feedback for further improvement.
Higher Time Frame Chart OverlayHello All,
This script gets OHLC values from any security and Higher/Same time frame you set, then creates the chart including last 10 candles. it shows Symbol name, Time Frame, Highest/Lowest level of last 10 candles and Close Price at the right side of the chart as well. Closing price text color changes by the real-time candle of the related symbol and time frame. The all this was made using the Tables in Pine and the chart location doesn't change even if you change the size of main chart window.
Almost everything can be change as you want. You can change/set:
- Colors of Body and Top/Bottom Wicks separately
- The Height of each Cell
- The Width of Body and Wicks
- The Background and Frame color
- Enable/disable Status Panel (if you disable Status Panel then only candle chart is shown)
- Location of Status Panel
- Text color and Text size
- The Background color of Status Panel
Some examples:
The info shown in Status Panel:
You can change The Height of each Cell and The Width of Body and Wicks
You can change colors:
You can change location of the chart:
If you add the script more than once then you can see the charts for different symbols and time frames: (This may slow down your chart)
If you right-click on the script and choose "Visual Order" => "Bring to front" then it will be better visually:
P.S. Using this script may slow down your chart, especially if you add it more than once
Enjoy!
Bixord: FantailVMAThis indicator is a combination of moving average and ATR indicators. The indicator stays pretty close to price and at the same time shows clear trend of asset/stock. It shows you when price is above the FantailVMA it indicates an uptrend and when price is below it indicates a downtrend otherwise.
Hope you find this indicator useful!
Happy trading..
3rd WaveHello All,
In Elliott Wave Theory, 3rd wave is not the shortest one in the waves 1/3/5 and it's usually longest one. so if we can catch it then we may get good opportunities to trade. This script finds 3rd wave experimentally. it can be also the 3rd waves in the waves 1, 3, 5, A and C. the 3rd wave should have greater volume than other waves, the script can check its volume and compare with the volumes of the waves 1 and 2 optionally.
Pine Team released Pine version 5! This script was developed in v5 and it uses Library feature of Pine v5 for the zigzag functions. This script is also an example for the Pine developers who learn Pine v5 and Libraries.
Options:
Zigzag Period: is the length that is used to calculate highest/lowest and the zigzag waves
Min/Max Retracements: is the retracement rates to check the wave 2 according to wave 1. for example; if min/max values are 0.500-0.618 then wave 2 must be minimum 0.500 of wave 1 and maximum 0.618 of wave 1.
Check Volume Support: is an option to compare the volumes of1. 2. and . waves. if you enable this option then the script checks their volume and 3rd wave volume must be greater then 1 and 2
there are 4 options for the targets. you can enable/disable and change their levels. targets are calculated using length of wave 1.
Options to show breakout zone, zigzag, wave 1 and 2.
and some options for the colors.
The Library that is used in this script:
P.S. This is an experimental work and can be improved. So do not hesitate to drop your comments under the script ;)
Enjoy!
Moving Average Exponential with Standard Deviation BandThis is standard EMA script available on Trading View and i have just added ability to add a channel based on standard deviation. In addition to it you can enable/disable optional lines from options and it would add 50% levels of upper and under channel. I added 50% as it provide important price levels if you have right settings selected for channel factor.
Trend Gradient Moving Average This moving average uses a gradient function which calculates the number of advances/declines of the moving average to change the intensity of the colors, meaning a longer trend in either direction will show a stronger color. You can choose 3 colors to build the gradient: a bullish, bearish & neutral/transition color. The number of steps chosen will change the speed of color change, with a lower number of steps meaning a faster transition and viceversa.
Furthermore, you can choose between many different types of moving averages:
-SMA (Simple Moving Average)
-EMA (Exponential Moving Average)
-RMA (Rolling Moving Average)
-WMA (Weighted Moving Average)
-HMA (Hull Moving Average)
-VWMA (Volume Weighted Moving Average)
-TMA (Triangular Moving Average)
Enjoy!
MA Visualizer™TradeChartist MA Visualizer is a Moving Average based indicator aimed to visualize price action in relation to the Moving Average in a visually engaging way.
===================================================================================================================
█ MA Visualizer Features
11 different Moving Averages to choose from the settings to visualize based on MA Visualizer Length (Default - 55 period SMA).
2 Smoothing options (default - 0, 0 uses MA length as Smoothing factor, 1 uses no Smoothing).
4 colour themes to choose from and option to adjust Visualizer Vibrance.
█ Example Charts
1. 1hr chart of OANDA:XAUUSD using 55 period WMA.
2. 15m chart of OANDA:EURUSD using 144 period Tillson T3 MA.
3. 4 hr chart of OANDA:US30USD using 55 period SMMA.
===================================================================================================================
Best Practice: Test with different settings first using Paper Trades before trading with real money
===================================================================================================================
FiboDonchianDonchian channels were developed by Richard Donchian, the father of trend following. The two outer bands are plotted as the highest high and lowest low for a set period of time.
In the FiboDonchian, the channel is divided into 3 zones according to Fibonacci levels:
0-0.382 (Bullish Zone)
0.382-0.618 (Neutral Zone)
0.618-1(Bearish Zone)
These levels will usually act as support and resistance during trends, and will reverse depending on the direction of the trend (e.g. in an uptrend the .382 is above the .5 and during a downtrend it is below).
An option to color candles according to the trend is given, with the following logic:
-During uptrends, candles will turn bullish when a new high is made and will remain in this state as long as price closes in the upper zone. Below this zone price turns neutral until a new high or low is made.
-During downtrends, candles will turn bearish when a new low is made and will remain like this provided that price closes in the lower zone. Above this zone price turns neutral until a new low or high is made.
Enjoy!!
Keltner TrendThis indicator takes the concept of Keltner Channels and uses them as a trend following system by using a deviation band of 1 ATR, such that when the price closes above the upper band a bull trend is predicted to follow, and when the price closes below the lower band the start of a bear trend is assumed.
Only 1 band is plotted at all times depending on the bias of the trend.
Default settings are a 21 EMA as a centerline with a 13 period ATR.
Enjoy!
Trend Follow SystemTrend following algorithm:
We take 1- 5 Fibonacci Ema values. 21, 34, 55, 89, 144
2- We normalize the changes of these values over time between 1-100.
3- We take the ema value of 1 length so that it does not follow a horizontal course after the normalization process.
4- In order not to experience too much change, we take the value of sma with a length of 5.
5-We think that when all values are 100, the trend is up, when all values are 0, the trend is down, otherwise the trend is horizontal.
EMAC - Exponential Moving Average Cross - StudyEMAC - Exponential Moving Average Cross - Study
This is the short Study version of EMAC that has been optimized for TradersPost alerts only
For the original full Strategy version with many editable inputs please see EMAC - Exponential Moving Average Cross
For the full Strategy version with the best currently known optimized inputs (average best settings across 26 tickers) please see EMAC - Exponential Moving Average Cross - Optimized
Breakout FinderHelo All,
I got many requests for a Breakout script and here it's. This script searches the breakouts/breakdowns and draw square if there is one.
The options:
"Period" is used to find Pivot Points
"Max Breakout Length" is the maximum length to search breakouts
"Threshold Rate %" is channel width of the breakout area. calculated using highest/lowest of last 300 bars.
"Minimum Number of Tests" is the minimum number of tests that the Price tried to break the S/R level
and some options for coloring and linestyle
Lets see some examples:
in this example "Minimum Number of Tests" is 2 so the Price must have tested to break resistance area 2 times and then it breaks it as seen in the screenshot:
in following example Threshold rate is %10, so the channel width is very big:
as you can see in followinf screenshot you can choose different colors and line styles:
Alerts added ;)
Enjoy!
MTF Trend WidgetThis indicator identifies trends in multiple higher timeframes (D, W, M) and shows them in a widget off to the right of the chart.
It's meant to be used as an alternative filter for "trading with the trend." Typically people use moving averages of varying lengths for this (i.e. if over 200 MA it's an uptrend, etc.), but I wanted to see if it might be more effective to see if the higher timeframes were actually trending or not in a certain direction.
For the purposes of this indicator, an uptrend is defined as higher highs and higher lows. So if currently in a downtrend and the highs are broken, the indicator will flip to an uptrend because now we have a higher high. Vice versa for downtrends.
The user can choose the lookback period for defining these highs/lows (the pivot points). A smaller lookback number will give you more frequent pivot points.
The user can toggle on visibility of all historical pivot points to make sure the frequency and placement of the swing highs/lows is to their liking.
The user can show the support/resistance lines of those most recent swing high/low points on the multiple timeframes as well.
When these lines are breached, that is when the trends change, so you can see if you are close to changing any longer term trends.
My hope is that this gives people a quick glance at the overall trend without having to cycle through different timeframes.
Indicator PanelHello All,
This script shows Indicator panel in a Table. Table.new() is a new feature and released today! Thanks a lot to Pine Team to add this new great feature! This new feature is a game changer!
The script shows indicator values for each symbol and changes background color of each cell by using current and last values of the indicators for each symbol. if current value is greater than last value then backgroung color is green, if lower than last value then red, if they are equals then gray.
You can choose the indicators to display. Number of columns in the table is dynamic and is changed by number of the indicators.
You can choose 5 different Symbols, 6 Indicators and 2 Simple or Exponential Moving averages, you can set type of moving averages and the lengths. You can also set the lengths for each Indicators.
Indicators:
- RSI
- MACD ( MACD and Signal and Histogram )
- DMI ( +DI and -DI + and ADX )
- CCI
- MFI
- Momentum
- MA with Length 50 (length can be set)
- MA with Length 200 (length can be set)
In this example RSI, MACD and MA 200 were chosen, you can see how table size changes dynamically:
Enjoy!
BAM's Weighted ROCTraders,
BAM's Weighted ROC is a Momentum indicator. ROC stands for 'Rate of Change' therefor this indicator plots the reading of a weighted average Rate of Change. In its current form it uses 4 periods en 4 weightings. The periods are set to 21/63/126/252 which corresponds to the number of trading days in each 1/3/6/12 months. The weightings are set to emphasize the more recent periods where the 1-month period counts for 40% of the signal, the 3-monthh period for 30%, the 6-month for 20% and the 12-month for 10%. These settings, both periods and weightings, are customizable. The current settings are meant to serve the widely used 1-day time interval chart setting. Feel free to alter the time frame and adjust the parameters accordingly; eg I like trading the weekly chart on a 10/20/30/40 period settings.
BAM's Weighted ROC can be used as a trendfilter for Trend Following trading systems or as an entry signal for Swing trading systems, or both. In the current setting the indicator is set to trend-following; it turns green when positive (above 0), indicating positive momentum. And red when negative (below 0), indicating negative momentum. In the most basic form one can trade a well diversified portfolio of assets using the indicator as guidance for entry and exit signals as it flows back and forth between positive and negative. Another use for the indicator lies in Swing Trading systems. In this approach the transfer from declining momentum into ascending momentum can be interpreted as a shift in momentum from negative to positive, and therefor constitute an entry opportunity. A combination of the 2 signals is of perfectly viable too, wait for positive momentum (reading above 0) in combination with a upward shift from one bar to the other. Use the reverse logic as an exit signal. In these examples the indicator is used in a stand-alone fashion. But off course it can also be used in conjunction with other indicators.
I personally use the two functions, trend-following en swingtrading, in tandem (combined)
for further reading into the rational behind Trend Following trading systems I recommend the following sources:
- Free Read: Google for 'Meb Faber, Global Asset Allocation' he gives out free copies on his website. Meb is a well known character in the Momentum-factor arena.
- Easy read: 'Following the trend' By Andreas Clenow. I don't think there is any Trend Following trader that doesn't know this chaps work.
- sophisticated Read: Trend Following with Managed Futures by A. Greyserman and K. Kaminski. This one is for those who seriously mean business!
Good luck out there, pls consider that the momentum factor holds an edge, at least based on historical performance, but this out-performance (most often) lies in the low single digits.
Pls be aware that use of this indicator is at your own risk. All info provided is solely presented for educational purposes.
Kind regards,
Bam
RSI Trend Indicator [paRSI]The Relative Strength Index ( RSI ) is a measurement used by traders to assess the price momentum. It is scaled from 0 to 100. when RSI reads below 30, it is usually interpreted as oversold and when RSI is above 70 it is usually interpreted as overbought. However, it is usually not profitable to trade based on overbought and oversold signal.
RSI Trend Indicator or as I like to call it "paRSI" ("Parsa (my name) + RSI") shows that when RSI is above a specific number (default value = 60) it indicates bullish trend and when RSI is below a specific number (default value = 40 ) it indicates bearish trend. Lastly when RSI is below the 2 specified numbers it indicates a neutral trend.
I don't recommend trading based on this single indicator. If you're a trend trader this might be useful tool in addition to your own strategy
Usage:
If the created pattern has worked previously on the chart, you could enter on the first stages of the green or red section (depending on the market's trend).
It is not recommended to trade in any direction when there is no color
*THIS IS A TREND FOLLOWING STRATEGY AND DOES NOT WORK ON ALL MARKETS*
Support Resistance ChannelsHello All,
For Long time I was planning to make Support/Resistance Channels script, finally I had time and here it is.
How this script works?
- it finds and keeps Pivot Points
- when it found a new Pivot Point it clears older S/R channels then;
- for each pivot point it searches all pivot points in its own channel with dynamic width
- while creating the S/R channel it calculates its strength
- then sorts all S/R channels by strength
- it shows the strongest S/R channels, before doing this it checks old location in the list and adjust them for better visibility
- if any S/R channel was broken on last move then it gives alert and put shape below/above the candle
- The colors of the S/R channels are adjusted automatically
You can set/change following settings:
- Pivot Period
- Source : High/Low or Close/Open can be used
- Maximum Channel Width %: this is the maximum channel width rate, this is calculated using Highest/Lowest levels in last 300 bars
- Number of S/R to show : this is the number of Strongest S/R to show
- Loopback Period: While calculating S/R levels it checks Pivot Points in LoopBack Period
- Show S/R on last # Bars: To see S/R levels only on last N bars
- Start Date: the script starts calculating Pivot Point from this date, the reason I put this option is for visuality. Explained below
- You can set colors/transparency
- and You can enable/disable shapes for broken S/R levels
Examples:
You can change colors as you wish:
here " Show S/R on last # Bars " set 100:
Sometimes visuality may corrupt because of old S/R levels, to solve it you need to set "Start Date" in the options to start the script in visual part (last 292 bars)
here in first screenshot it doesn't look good (shrink), then on second screenshot I set the "Start Date" it looks better, if you change time frame don't forget to set it again :)
Enjoy!
Robust Channel [tbiktag]Introducing the Robust Channel indicator.
This indicator is based on a remarkable property of robust statistics , namely, the resistance to the presence of data points that deviate significantly from the established trend (generally speaking, outliers ). Being outlier-resistant, the Robust Channel indicator “remembers” a pre-existing trend and thus exhibits a very peculiar "lag" in case of a sharp price change. This allows high-confidence identification of such price actions as a trend reversal, range break, pullback, etc.
In the case of trending and range-bound market conditions, the price remains within the channel most of the time, fluctuating around the central line.
Technical details
The central line is calculated using the repeated median slope algorithm. For each data point in a lookback window of a user-specified Length , this method calculates the median slope of the lines that connect that point to all other points inside the window. The overall median of these median slopes is then calculated and used as an estimate of the trend slope. The algorithm is very efficient as it uses an on-the-fly procedure to update the array containing the slopes (new data pushed - old data removed).
The outer line is then calculated as the central line plus the Length -period standard deviation of the price data multiplied by a user-defined Channel Width Factor . The inner line is defined analogously below the central line.
Usage
As a stand-alone indicator, the Robust Channel can be applied similarly to the Bollinger Bands and the Keltner Channel:
A close above the outer line can be interpreted as a bullish signal and a close below the inner line as a bearish signal.
Likewise, a return to the channel from below after a break may serve as a bullish signal, while a return from above may indicate bearish sentiment.
Robust Channel can be also used to confirm chart patterns such as double tops and double bottoms.
If you like this indicator, feel free to leave your feedback in the comments below!
