TradeChartist Tracker™𝗧𝗿𝗮𝗱𝗲𝗖𝗵𝗮𝗿𝘁𝗶𝘀𝘁 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 is an essential real-time multi Indicator tracking toolkit that can be plotted as a standalone Indicator plot, a multi symbol tracker/screener for upto 10 different symbols and a visual scorecard for upto 5 different symbols. The indicators included in the tracker are Stochastic Oscillator, RSI, CCI, 15 different Moving Averages, MACD, Bollinger Bands %B (including Bollinger Bands and Breakout Signals), Ichimoku Cloud (including Breakout signals), Donchian Channels Oscillator (including Donchian Channels and Breakout Signals), Net Volume and Heikin Ashi Trend.
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™𝗧𝗿𝗮𝗱𝗲𝗖𝗵𝗮𝗿𝘁𝗶𝘀𝘁 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 𝗨𝘀𝗲𝗿 𝗠𝗮𝗻𝘂𝗮𝗹
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™TradeChartist Tracker Plot Types
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1. Indicator plot of Chart Symbol on its own , chosen from the 𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗧𝘆𝗽𝗲 dropdown, enabling 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫/𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝).
In this example Daily chart of XRP-USDT, 55 period Stochastic is tracked for the chart symbol XRP-USDT.
2. Indicator plot of a Symbol different from the Chart Symbol , chosen from the 𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗧𝘆𝗽𝗲 dropdown by enabling Tʀᴀᴄᴋ ᴀɴᴏᴛʜᴇʀ Sʏᴍʙᴏʟ's Iɴᴅɪᴄᴀᴛᴏʀ and entering the symbol name in the Sʏᴍʙᴏʟ ᴛᴏ Tʀᴀᴄᴋ input box, whilst keeping 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫/𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝) enabled.
In this example Daily chart of XRP-USDT, 55 period Stochastic is tracked for the BTC-USD (different from chart symbol XRP-USDT).
3. Tracker Plot of up to 10 Multiple Symbol Trackers for the Indicator chosen from the 𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗧𝘆𝗽𝗲 dropdown, by disabling 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫/𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝) and by entering the number of trackers required in the 𝐍𝐮𝐦𝐛𝐞𝐫 𝐨𝐟 𝐓𝐫𝐚𝐜𝐤𝐞𝐫𝐬 input box under 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 𝗣𝗹𝗼𝘁𝘀 section. Upto 10 Symbols can be tracked and can be input by the user in the input boxes from Sʏᴍʙᴏʟ 1,...Sʏᴍʙᴏʟ 10 . 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫/𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝) must be disabled for this plot type.
In this example Daily chart of Crypto Total Market Cap, Bollinger Bands %B is tracked for the chart symbol + 10 other Crypto symbols using Multi Symbol Trackers
4. Visual Scorecards of up to 5 Symbols for 8 indicators (all except Net Volume and HA Trend) can be plotted with real-time data by enabling 𝗗𝗶𝘀𝗽𝗹𝗮𝘆 𝗩𝗶𝘀𝘂𝗮𝗹 𝗦𝗰𝗼𝗿𝗲𝗰𝗮𝗿𝗱 - (𝟓 𝐓𝐫𝐚𝐜𝐤𝐞𝐫𝐬 𝐋𝐢𝐦𝐢𝐭). 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫/𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝) must be disabled for this plot type.
For the same example Daily chart of Crypto Total Market Cap as above, Visual Scorecard is plotted for 5 Symbols as shown.
5. Indicator Tracker labels can be plotted on Price chart by overlaying the Tracker on main chart and by switching from Separate Tracker Pane - Default to Tracker Labels only on Price Scale in the Lᴀʙᴇʟs Dɪsᴘʟᴀʏ Tʏᴘᴇ dropdown box.
In this example chart of 1hr XLM-USDT, Tracker labels of 55 EMA are plotted for 10 different symbols along with the 55 EMA plot of XLM-USDT.
Indicator plot that doesn't fit on price scale can be visualised using a second Tracker added to chart as shown in the ETH-USDT example below tracking Net Volume.
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𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿𝘀 𝗜𝗻𝗰𝗹𝘂𝗱𝗲𝗱 𝗶𝗻 ™𝗧𝗿𝗮𝗱𝗲𝗖𝗵𝗮𝗿𝘁𝗶𝘀𝘁 𝗧𝗿𝗮𝗰𝗸𝗲𝗿
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1. Stochastic Oscillator
2. RSI
3. CCI
4. MA - (15 types included)
5. MACD
6. Bollinger Bands %B + Optional plots of Bollinger Bands and Breakout Signals
7. Ichimoku Cloud Oscillator + Optional plots of Ichimoku Cloud and Breakout Signals
8. Donchian Channels + Optional plots of Donchian Channels and Breakout Signals
9. Net Volume
10. Heikin Ashi Trend
All of the above indicators can be plotted as independent plots of the Chart Symbol or of a different symbol by enabling 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫/𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝). Some Oscillators have the option of Pʟᴏᴛ Sᴛʏʟᴇ under their relevant sections, and can be plotted as line, area or a histogram.
Oscillators 1-8 (except 4) require source price, lookback length and smoothing (where available) for the indicator plot. The colour of the tracker blocks is based on the Upper/Lower bands (where available), specified by the user in the respective sections. For example, if the RSI indicator is chosen to be plotted with Upper band at 60 and Lower band at 40, the tracker blocks and the Indicator plot paint the values between 40 and 60 in neutral colour which can be changed from the settings.
Multi Window BTC-USDT 1hr example chart below with various indicators from ™TradeChartist Tracker.
Note: The tracker colour is exactly colour of the Indicator Plot. The Visual Scorecard , however uses the mid values and doesn't take into account the bands specified by the user. For example, RSI score is green on the Visual Scorecard as long as RSI is above 50 and doesn't get affected by the user specified upper/lower band and this applies to all Oscillators. This is shown in the 1hr BTC-USDT chart below.
Moving Averages (MA) and MACD
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Tracker plots and tracks one of 15 Moving Averages that can be chosen from the MA ᴛʏᴘᴇ and by specifying the MA Lᴇɴɢᴛʜ .
MACD uses EMA as default for calculating the MACD plots and Tracker data using Fᴀsᴛ Lᴇɴɢᴛʜ , Sʟᴏᴡ Lᴇɴɢᴛʜ and Sᴍᴏᴏᴛʜɪɴɢ . To experiment or use a different Moving Average to calculate MACD, disable 𝐔𝐬𝐞 𝐄𝐌𝐀 (Uɴᴄʜᴇᴄᴋ ᴛᴏ ᴜsᴇ MA ғʀᴏᴍ ᴀʙᴏᴠᴇ) and select the required Moving Average from MA ᴛʏᴘᴇ drop down of the 𝟰. 𝗠𝗼𝘃𝗶𝗻𝗴 𝗔𝘃𝗲𝗿𝗮𝗴𝗲 section.
Bollinger Bands %B + Optional plots of Bollinger Bands and Breakout Signals
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Bollinger Bands %B is a companion oscillator for Bollinger Bands and helps depict where the price is, in relation to the Bollinger Bands. To plot the actual Bollinger Bands, enable Dɪsᴘʟᴀʏ Bᴏʟʟɪɴɢᴇʀ Bᴀɴᴅs and to plot the Bollinger Bands Breakout Signals, enable Sʜᴏᴡ BB Bʀᴇᴀᴋᴏᴜᴛ Sɪɢɴᴀʟs , with 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫/𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝) enabled.
Ichimoku Cloud Oscillator + Optional plots of Ichimoku Cloud and Breakout Signals
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Ichimoku Cloud Oscillator helps visualize the current price in relation to the breakout support/resistance of the Ichimoku Cloud using strict Ichimoku Cloud criteria (including Chikou Span agreeing with the breakout etc.). To plot the actual Ichimoku Cloud, enable Dɪsᴘʟᴀʏ Iᴄʜɪᴍᴏᴋᴜ Cʟᴏᴜᴅ and to plot the Kumo Breakout Signals, enable Sʜᴏᴡ Kᴜᴍᴏ Bʀᴇᴀᴋᴏᴜᴛ Sɪɢɴᴀʟs , with 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫/𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝) enabled.
Cloud Settings form the fundamental factor for this indicator to detect the breakouts. The settings for the Ichimoku Cloud is Automatic (detects right settings for the symbol type) by default, but this can be changed to Classic or 24/7 Crypto , based on the user preference from the settings under 𝐂𝐥𝐨𝐮𝐝 𝐓𝐲𝐩𝐞, which also includes a manual input option. Ichimoku traders can experiment different settings combinations under manual settings to suit their trading frequency and timeframe traded.
Donchian Channels + Optional plots of Donchian Channels and Breakout Signals
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Donchian Channels comprises of three plots - a upper band, a lower band and a mean line (or mid line of the channel). The upper band is based on highest high of N periods specified by the user and the lower band is based on the lowest low of N periods specified by the user. These channels help spot price breaching high or low of last N periods clearly, thereby aiding the trader to understand the price action of any symbol better on any given timeframe.
Donchian Channels Oscillator helps visualize the current price in relation to the Mean line of the Donchian Channels of user specified lookback period (specified in the Dᴏɴᴄʜɪᴀɴ Cʜᴀɴɴᴇʟ Lᴇɴɢᴛʜ input box). The sensitivity of the oscillator can be adjusted using smoothing factor in the Sᴍᴏᴏᴛʜɪɴɢ input box. To plot the actual Donchian Channels, enable Dɪsᴘʟᴀʏ Dᴏɴᴄʜɪᴀɴ Cʜᴀɴɴᴇʟs and to plot the Donchian Channels Breakout Signals, enable Sʜᴏᴡ DC Bʀᴇᴀᴋᴏᴜᴛ Sɪɢɴᴀʟs , with 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫/𝐒𝐜𝐨𝐫𝐞𝐜𝐚𝐫𝐝) enabled.
Note: Using smoothing factor more than 1 doesn't reflect the actual Donchian Channels Mean line and also impacts the Tracker block colours.
Net Volume and Heikin Ashi Trend
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Net Volume and Heikin Ashi Trend can be tracked and plotted for up to 10 symbols in addition to the chart symbol, but both Net Volume and Heikin Ashi Trend are not included in the Visual Scorecard. Since the colour of the Net Volume depends on candle being bullish or bearish, it can help the user visualize if the current candle close of the symbol tracked is above or below the symbols's candle open.
Note: Bar Replay doesn't update the bar by bar indicator plot for historic bars for symbols other than the chart symbol. However, the Indicator Plot is perfectly usable for the realtime bar as data updates for both the Trackers and the Scorecard in realtime.
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𝗩𝗶𝘀𝘂𝗮𝗹 𝗦𝗰𝗼𝗿𝗲𝗰𝗮𝗿𝗱
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Visual Scorecard plots a green Bull or a red Bear Score colour plot for each Indicator from RSI to Donchian Channels Oscillator against every symbol tracked for up to 5 symbols max (First 5 symbols under 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 𝗣𝗹𝗼𝘁𝘀 section). The gap between the scores can be adjusted using gap factor under Gᴀᴘ Fᴀᴄᴛᴏʀ ʙᴇᴛᴡᴇᴇɴ Sᴄᴏʀᴇs dropdown.
Visual Scorecard scoring method
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RSI > 50 - 🟢
RSI < 50 - 🔴
Stoch > 50 - 🟢
Stoch < 50 - 🔴
CCI > 0 - 🟢
CCI < 0 - 🔴
Close price above MA plot - 🟢
Close price below MA plot - 🔴
MACD > 0 - 🟢
MACD < 0 - 🔴
Bollinger Bands %B > 50 - 🟢
Bollinger Bands %B < 50 - 🔴
Ichimoku Bullish Kumo Trend - 🟢
Ichimoku Bearish Kumo Trend - 🔴
Donchian Channels Oscillator > 0 (or close price above DC Mean Line) - 🟢
Donchian Channels Oscillator < 0 (or close price below DC Mean Line) - 🔴
Note: Bar Replay doesn't update the bar by bar scores/tracker data for historic bars for symbols other than the chart symbol. However, the Scorecard is perfectly usable for the realtime bar as data updates for both the Trackers and the Scorecard in realtime.
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𝗠𝘂𝗹𝘁𝗶 𝗦𝘆𝗺𝗯𝗼𝗹 𝗧𝗿𝗮𝗰𝗸𝗲𝗿𝘀/𝗟𝗮𝗯𝗲𝗹𝘀
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Multi Symbol Tracker blocks continuously track the real-time indicator data of up to 10 symbols (in addition to the chart symbol) based on the number of Symbol Trackers preferred in the 𝐍𝐮𝐦𝐛𝐞𝐫 𝐨𝐟 𝐒𝐲𝐦𝐛𝐨𝐥 𝐓𝐫𝐚𝐜𝐤𝐞𝐫𝐬 (𝟎-𝟏𝟎) input box under the 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 𝗣𝗹𝗼𝘁𝘀 section, and plots Bull, Bear and Neutral colour coded blocks based on both the indicator selected and settings preferred by the user under the relevant indicator section.
Multi Symbol Tracker Labels also continuously track the real-time indicator data in addition to the last close price (if 𝐒𝐡𝐨𝐰 𝐏𝐫𝐢𝐜𝐞 is enabled under 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 𝗣𝗹𝗼𝘁𝘀 section), which helps user see the real-time changes in the indicator values and price changes of the symbols tracked.
The Tracker Label colours are exactly the same as the Tracker Block colours and are filtered based on the user preferred bands on the Oscillator values. This is slightly different to the Visual Scorecard Colour coding as the range between the user preferred bands is colour coded in a neutral colour, whereas the Scorecard uses only Bull and Bear Colours as explained in the 𝗩𝗶𝘀𝘂𝗮𝗹 𝗦𝗰𝗼𝗿𝗲𝗰𝗮𝗿𝗱 heading above. For example, if the user prefers RSI upper band of 60 and lower band of 40, the range between the values of 40 and 60 will be colour coded in neutral colour which can be changed from the 𝗨𝘀𝗲𝗳𝘂𝗹 𝗘𝘅𝘁𝗿𝗮𝘀 section of the indicator settings.
Note 1: Default settings are based on the Oscillator mid values and hence the Tracker Blocks match with the Visual Scorecard colour codes. Using Upper and Lower bands for oscillators help spot the oversold and overbought zones and also helps spot breakout threshold based on Indicator values specified by the user. Example chart with visual depiction below using RSI.
Note 2: Bar Replay doesn't update the bar by bar scores/tracker data for historic bars for symbols other than the chart symbol. However, the Tracker blocks/labels are perfectly usable for the realtime bar as data updates for both the Trackers and the Scorecard in realtime.
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Frequently Asked Questions
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Q: When I load the ™TradeChartist Tracker, why are the values in the labels blurred sometimes?
A: This happens occasionally as shown in the chart below, when the script is loaded for the first time or when a different setting is used.
To resolve this, just hide and unhide the script using the 👁 next to the Indicator title. If it is not visible, just hover the mouse/crosshair over the Indicator Title and it will be visible.
Q: Why does the indicator plot, tracker blocks and labels of Symbols being tracked, not update when I use Bar Replay?
A: As explained in the relevant sections above, historic data for bars and indicators other than chart symbol doesn't update on bar replay. But the chart symbol data does update for every bar on bar replay. This doesn't affect the real-time values and block colours for the symbols tracked.
Q: Can I track real-time values of a currently trading symbol when I'm on a symbol chart that is inactive? For example, can I see labels with real-time BTC values on a Sunday when I'm on a SPX chart when its not in session?
A: Simple answer is no. This is because, the plots are based on bar times of the chart and the symbols are tracked based on the bar time. So if the SPX session ended on Friday, the last known value of the BTC labels will be from Friday and hence it is always recommended to track symbols from a symbol chart that is in session.
Q: Does ™TradeChartist Tracker repaint?
A: This indicator doesn't repaint but it is not recommended to trade a different symbol from the chart based on the real-time data alone without checking if the current symbol chart is in session as inactive price chart will not have updated data on symbols tracked. Also, bar replay doesn't work on data pulled from external symbol data than the chart symbol, but signals confirmed at candle close and confirmed by Tracker blocks with appropriate colour code will be in agreement with the respective indicator and can be double checked for building trust and confidence on the indicator.
Q: Can ™TradeChartist Tracker be connected to other indicators as external source?
A: Yes. ™TradeChartist Tracker can be connected to another script and there are several use cases in doing so. A couple of examples are shown below.
1. ™TradeChartist Tracker 's Bollinger Bands %B 𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗣𝗹𝗼𝘁 connected to ™TradeChartist Plotter to plot Divergences on the 4hr XAU-USD main price chart.
2. ™TradeChartist Tracker 's 𝐁𝐫𝐞𝐚𝐤𝐨𝐮𝐭 𝐓𝐫𝐞𝐧𝐝 𝐈𝐝𝐞𝐧𝐭𝐢𝐟𝐢𝐞𝐫 connected to ™TradeChartist Plug and Trade as Oscillatory Signal with 0/0 to generate trade signals with Targets and performance information on trades.
More Example Charts
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Best Practice: Test with different settings first using Paper Trades before trading with real money
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This is not a free to use indicator. Get in touch with me (PM me directly if you would like trial access to test the indicator)
Premium Scripts - Trial access and Information
Trial access offered on all Premium scripts.
PM me directly to request trial access to the scripts or for more information.
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Z-score
Fortuna 2.0This is a custom Algorithm that is highly adjustable for how aggressive you want the signals to be.
This script incorporates moving averages, volume , money flow , and trend reversal prediction.
I have included a very smooth trend line that is color coated for the trend.
Each toggle allows you to add more restrictions to the buy and sell signals to be more conservative.
The confirmation signals were designed to be used by themselves, but can also be used with the other toggles.
You can change RSI to be more aggressive or less aggressive
I suggest starting with commodity channel included.
Second Step would be to include Vwap or Keltners, or both.
Uptrend/downtrend predictor can be used by itself as well.
This script should be used in conjunction with your own TA to make any plays.
2.0 Includes The following Major Changes
The Ability to change it so you can only have 1 buy per 1 sell, allowing this to potentially be autotraded.
Also a very aggressive sell mode is an option.
Thank you,
The Tomikazi
Special Shout out to Skwasha for helping me with the PineScript, This has been many long nights and revisions to get to this point.
Skynett 2.0This is a custom Algorithm that is highly adjustable for how aggressive you want the signals to be.
This script incorporates moving averages, volume, money flow, and trend reversal prediction.
I have included a very smooth trend line that is color coated for the trend.
Each toggle allows you to add more restrictions to the buy and sell signals to be more conservative.
The confirmation signals were designed to be used by themselves, but can also be used with the other toggles.
I suggest starting with commodity channel included.
Second Step would be to include Vwap or Keltners, or both.
Uptrend/downtrend predictor can be used by itself as well.
This script should be used in conjunction with your own TA to make any plays.
Thank you,
The Tomikazi
Special Shout out to Skwasha for helping me with the PineScript, This has been many long nights and revisions to get to this point.
Skynett 1.0This is a custom algorithm that looks at 50 different settings and over 15 indicators combining them to create a strong reversal signal.
This is highly customizable.
The following settings have the most impact on signals issued.
Keltner on and off
T3 on and off
PSO level
The buy signals are issued when the probability of a strong reversal happens on a down trend.
The sell signals are given when the probability of a strong reversal on a uptrend happens.
This should be used to help to give you an idea of when you can enter a trade on a reversal and should not be used as a standalone indicator.
Thank you,
The Tomikazi
TC Chart Score 1.3 BETAIn version 1.3 I am switching it back to a study.
We have changed the formula for calculating the score with 9 buy conditions, each one allowing 1 point.
The idea is to predict a strong bullish reversal
To use this combine it with bullish candles ideally to confirm a buy signal.
This combines momentum, volume, money flow, and other indicators to show the strength of reversal probability.
Strongest possible score is 9.
I added a slow and fast moving SMA as well to smooth the score.
TC Chart Score StrategyThis is My Call Confidence Strategy
The Strategy is designed to help confirm a bullish reversal after a downtrend.
This uses custom weighted algorithm
The Algorithm combines directional movement, volume over average, and moving averages to formulate a score.
The score is then used in conjunction with a smoothed score of the same criteria to initiate a buy signal on a cross over.
The settings are designed to help you customize how you weight directional movement, and the moving averages to further finetune the algorithm to your timelines.
The default settings are designed to be used on a 1 hour time frame.
You can change the settings for other time frames to further increase effectiveness.
This script will be updated as needed if a better algorithm is designed.
Z-Score 'Bollinger Bands'The following script is an application of the Z-Score (previous script).
Z-Scores can be used in place of standard deviation (sigma) in 'Bollinger Bands'.
The average of the sample (x-bar) over 21 days (N)
21 average trading days per month, fixed value
The average of the population (mu) over 63 days (n)
63 days per quarter, default is set to 63
Z-Score is calculated by formula in previous script, and the absolute value is taken of "Z".
Z-High = absolute value of Z + (x-bar).
Z-Low = absolute value of Z - (x-bar).
Will update with Z from mu and Z from avg (working on UX and visualization details).
Z-Score The z-score is a way of counting the number of standard deviations between a given data value and the mean of the data set.
Z-score = (x̄ - μ) / (σ / √ n)
x̄ = sample mean (using the array.avg function = array(a,close ), where i = 1 to 21)
μ = population mean ( = avg(close, n))
σ = standard deviation of the population ( = stdev(close,n))
n = number of 'close' or trading day closes
n = input
... Note: The previous indicator is part of a larger series of indicators
Z-SCORE Currency Strength Indicator by Lukas"you must have" indicator if you trade Forex major pairs.
So far this is the most reliable script i have for trade forex pairs.
This indicator will give us information of momentum, strength and cycle.
What i like about Z-SCORE, it's calculate price and volume.
Setting :
1. Set Color 0 and Color 2 into thick line, it will give you strength information.
The strength information is base on cumulative Currency price Vs. 7 others currency,
When Source Price above EMA and Above LWMA "Color 0" active, above EMA "Color 2" active, below EMA "Color 1" active
so it's important to set the thickness.
2. You can set EMA length as thickness filter
3. You can set Signal line between EMA and LWMA
EMA = smoother
LWMA = reactive
Strong currency signal when Color 0 active and they are on upward movement, crossing -80 or above 0
Weak Color 1 active and they are on downward movement, crossing 80 or below 0
Trade Strong Vs. Weak
Any feedback are welcome.
Hope it useful!
I also have unpublished OBV and smooth RSI indicator,
OBV can give you earlier bull/bear sign, let me know if you are interested~
Thank you.
Z-HistogramIt is possible to approximate the underlying distribution of a random variable by using what is called an "Histogram". In order to construct an histogram one must first split the data into several intervals (also called bins) often of the same size and count the number of values falling within each intervals, the histogram plot is then constructed with the X axis representing the measured variable and the Y axis representing the frequency.
The proposed script aim to estimate the underlying distribution of a rolling z-score by constructing its histogram, here the histogram consist of 13 bins of width 0.5 rolling standard deviations. The length setting define the rolling z-score period, the window setting define the number of past data to be counted, finally using the "Total" option (true by default) will count all the rolling z-scores values since the first bar, in order to use the window setting make sure to uncheck the "Total" option.
DISPLAY
In order to see the entirety of the histogram make sure to double click on the indicator window and to have all the lower panels (text notes, pine editor...etc) hidden, finally make sure to zoom-in in order to see the frequency numbers displayed.
Z-Histogram on BTCUSD 15 min TF, the blue bins represent intervals situated over 0 while red bins represent intervals situated under 0. Here σ represent the X-axis in standard deviations, the histogram start with a bin situated at σ = -3 which count the number of times the rolling z-score was within -3 and -2.5, the histogram end with the bin situated at σ = 3 which count the number of time the rolling z-score was within 3 and 3.5.
It is also possible to look at the shape of the histogram without having the indicator window at full size.
INTERPREATION
An histogram can give really interesting information such as overall trend direction and strength. The direction can be measured by looking at the skewness of the histogram, with a negative skewness (the peak of the histogram situated at the right from the center) representing down-trending variations and positive skewness (the peak of the histogram situated at the left from the center) representing up-trending variations, while a symmetrical histogram could represent a ranging market. The farther away the peak of the histogram is situated from the center, the stronger the trend.
Another interesting characteristic is the tailedness of the histogram, which can give information about the cleanliness of the trend, for example a positive skew and high tailedness would represent a clean up-trend, as it could suggest less variations contrary to the main trend.
An histogram applied to the rolling z-score can give various useful information. As a recall the rolling z-score of the price measure the distance between the closing price and its moving average in term of rolling standard deviations, for example if the rolling z-score is equal to 2 it means that the closing price is currently 2 rolling standard deviations over its moving average.
Lets for example analyze the histogram using INTC 15 min tf with a window of 456 bars and rolling z-score of length = 100 in order to review longer term variations.
We can see from the histogram that the uptrend visible on the chart is represented by the bins situated over 0 having an overall higher frequency than the bins under 0, we can see that the closing price tended to stay between 1 and 1.5 rolling standard deviations over its period 100 moving average. Here bins under 0 accounts for retracements in the trend.
IN SUMMARY
An histogram can give various information regarding the price evolution of a security, the proposed script aim to plot the histogram of a rolling z-score. Now this script might not be too useful but it was fun to make, also it does not mean that an histogram is not an useful tool in the context of trading, the only thing required is a god implementation of it (like volume profiles for example)
In this post we have also reviewed some important statistical concepts such as distributions, z-score, skewness and tailedness, each being extremely important in the quantitative trading field.
Thx for reading !
Z Score Enhanced Time Segmented Volume (Multi MA)**THIS VERSION HAS BEEN STANDARDIZED WITH A Z SCORE CALCULATION AND ALLOWS THE USER TO SELECT WHICH MOVING AVERAGE THEY WOULD LIKE TO UTILIZE FOR THE SIGNAL LINE**
Chart shows the Non-Standardized Enhanced Time Segmented Volume (Multi MA) with default settings on top and the Standardized version with default settings on the bottom.
Time Segmented Volume was developed by Worden Brothers, Inc to be a leading indicator by comparing various time segments of both price and volume . Essentialy it is designed to measure the amount of money flowing in and out of an instrument.
Time Segmented Volume was originally ported to TradingView by user @liw0 and later corrected by user @vitelot. I never quite understood how to read Time Segmented Volume until I ran across a version by user @storma where they indicated when price would be long or short, but that code also utilized the incorrect calculation from user @liw0.
In an effort to make Time Segmented Volume more accessible and easier to read, I have re-coded it here. The calculations are based on the code from @vitelot and I have added direction indicators below the chart.
If the histogram (TSV) is greater than zero and greater than the moving average, price should be moving long and there will be a green box below the chart.
If TSV falls below the moving average while still being greater than zero, the trend may be exhausting and has been coded to read Price Action Long - FAILURE with a black x below the chart.
If the histogram (TSV) is less than zero and less than the moving average, price should be moving short and there will be a red box below the chart.
If TSV rises above the moving average while still being less than zero, the trend may be exhausting and has been coded to read Price Action Short - FAILURE with a black x below the chart.
At times, the moving average may be above zero while TSV is below zero or vice versa. In these situations the chart will indicate long or short based on whether or not TSV is greater or less than zero. It is possible a new trend may be forming as the moving average obviously lags, but also possible price is consolidating with little volume and causing TSV to oscillate close to zero.
**Z Score // Standardized Option **
Thist Standardized code implements all of the above but also allows the user to select a threshold level that should not need to be adjusted for each instrument (since the output is standardized).
If the TSV value meets the long and short signal requirements above and TSV is greater than the threshold values a green or red box will print ABOVE the oscillator. The histogram will also change color based on which threshold TSV has met.
This calculation allows us to compare current volatility to the mean (moving average) of the population (Z-Length). The closer the TSV Z-Score is to the mean, the closer it will be to the Zero Line and therefore price is likely consolidating and choppy. The farther TSV Z-Score is from the mean, the more likely price is trending.
The MA Mode determines the Moving Average used to calculate TSV itself. The Z-Score is ALWAYS calculated with a simple moving average (as that is the standard calculation for Z-Score).
The Threshold Levels are the levels at which TSV Z-Score will change from gray to yellow, orange, green ( bullish ), or red ( bearish ).
Statistically speaking, confidence levels in relation to Z-Score are noted below. The built in Threshold Levels are the positive and negative values for 90%, 95%, and 99%. This would indicate when volatility is greater than these values they are out of the ordinary from the standard range. You may wish to adjust these levels for TSV Z-Score to be more responsive to your trading needs
80% :: 1.28
85% :: 1.44
90% :: 1.64
95% :: 1.96
99% :: 2.58
The Z Length is the period for which the Z Score is calculated
More information regarding Time Segmented Volume can be found here: www.worden.com
Original code ported by @liw0
Corrected by @vitelot
Updated/Enhancements by @eylwithsteph with inspiration from @storma
Multiple MA Options Credits to @Fractured and @lejmer
Bits and Pieces from @AlexGrover, @Montyjus, and @Jiehonglim
As always, trade at your own risk.
5 Minute TraderBy request, this is an amalgamation of my most popular indicator features but tailored for lower timeframes.
Signals are generated by simple EMA crosses (with adjustable values) in the direction of the current trend and then validated against a scoring system that's comprised of 20 other indicators. When the majority of them agree then the trade can be taken. The tolerance score that permits a trade can be adjusted within the indicator preference panel and the values can be printed above/below the candle to help you tune your entry points.
To further reassure you, the smoothed candle direction from the 4 hour chart is printed in the background to validate the trend direction and a floating trade helper panel translates the scores in to practical terms (buy, sell etc)
Alerts are built in.
Note: This is a premium script. Please DM me for access.
WhipLashThis is a study to determine if small candle bodies (little difference between open and close), regardless of overall candle length (high/low), can be used to filter choppy markets.
The indicator will calculate the selected average "MA Mode" of (close-open). To standardize this result and ensure any filters/thresholds do not need to be recalculated for each instrument the result will be used to calculate the Z Score.
The idea is that when candle bodies are small there is very little actual price movement, and therefore price is choppy. When considering the Z Score of that result, any outliers ie larger candle bodies, could show a potential trend forming. This indicator is similar to QStick but allows more customization by the user.
MA Mode determines which MA is used to smooth the results of (close-open)
Price Smoothing is the number of running periods the MA Mode is calculated for.
The three Thresholds are preset to the 90%, 95%, and 99% levels for Z Score. If these thresholds are altered you may wish to also alter the horizontal lines programmed for each level on the positive and negative sides.
The Z Length is the period for which the Z Score is calculated
Multiple MA Options Credits to @Fractured
Bits and Pieces from @AlexGrover, @Montyjus, and @Jiehonglim
As always, trade at your own risk.
VQZL Z-ScoreVolatility Qaulity Zero Line attempts to keep a trader out of ranging markets, but the original calculation on TradingView had to be adjusted for each instrument. To avoid this issue, I have applied a z-score calculation to the VQZL so the result is standardized for all instruments. A Z-Score is simply a value's relationship to the mean (average) of a group of values, measured in terms of standard deviations from the mean.
This calculation allows us to compare current volatility to the mean (moving average) of the population (Z-Length). The closer the VQZL Z-Score is to the mean, the closer it will be to the Zero Line and therefore price is likely consolidating and choppy. The farther VQZL Z-Score is from the mean, the more likely price is trending.
The MA Mode determines the Moving Average used to calculate VQZL itself. The Z-Score is ALWAYS calculated with a simple moving average (as that is the standard calculation for Z-Score).
The Threshold Levels are the levels at which VQZL Z-Score will change from gray to yellow, orange, green (bullish), or red (bearish). These levels can be adjusted but you should adjust the Threshold Lines as well (in the style section), so they line up with your adjusted values.
Statistically speaking, confidence levels in relation to Z-Score are noted below. The built in Threshold Levels are the positive and negative values for 90%, 95%, and 99%. This would indicate when volatility is greater than these values they are out of the ordinary from the standard range. You may wish to adjust these levels for VQZL Z-Score to be more responsive to your trading need
80% :: 1.28
85% :: 1.44
90% :: 1.64
95% :: 1.96
99% :: 2.58
As always, trade at your own risk.
VQZL Created by Investo And Adapted From @sarangab
Multiple MA Options Credits to @Fractured
Bits and Pieces from @AlexGrover and @Montyjus
TD Moon Cycle Standard Deviation Z Score AlertsHas alerts for the TD 9 function, also the black is Z score and blue is STD Dev
Also the moon functionality of Ichimoonku is built into this as well because sometimes I just want to see the cycles of moon with TD9 ; see that script (Ichimoonku) for more info on moon functionality.
Much love
Enjoy
GL HF
xoxo
Snoop
Inverse Fisher Fast Z-scoreIntroduction
The fast z-score is a modification of the classic z-score that allow for smoother and faster results by using two least squares moving averages, however oscillators of this kind can be hard to read and modifying its shape to allow a better interpretation can be an interesting thing to do.
The Indicator
I already talked about the fisher transform, this statistical transform is originally applied to the correlation coefficient, the normal transform allow to get a result similar to a smooth z-score if applied to the correlation coefficient, the inverse transform allow to take the z-score and rescale it in a range of (1,-1), therefore the inverse fisher transform of the fast z-score can rescale it in a range of (1,-1).
inverse = (exp(k*fz) - 1)/(exp(k*fz) + 1)
Here k will control the squareness of the output, an higher k will return heavy side step shapes while a lower k will preserve the smoothness of the output.
Conclusion
The fisher transform sure is useful to kinda filter visual information, it also allow to draw levels since the rescaling is in a specific range, i encourage you to use it.
Notes
During those almost 2 weeks i was even lazier and sadder than ever before, so i think its no use to leave, i also have papers to publish and i need tv for that.
Thanks for reading !
Fast Z-ScoreIntroduction
The ability of the least squares moving average to provide a great low lag filter is something i always liked, however the least squares moving average can have other uses, one of them is using it with the z-score to provide a fast smoothing oscillator.
The Indicator
The indicator aim to provide fast and smooth results. length control the smoothness.
The calculation is inspired from my sample correlation coefficient estimation described here
Instead of using the difference between a moving average of period length/2 and a moving average of period length , we use the difference between a lsma of period length/2 and a lsma of period length , this difference is then divided by the standard deviation. All those calculations use the price smoothed by a moving average as source.
The yellow version don't divide the difference by a standard deviation, you can that it is less reactive. Both version have length = 200
Conclusion
I presented a smooth and responsive version of a z-score, the result could be used to estimate an even faster lsma by using the line rescaling technique and our indicator as correlation coefficient.
Hope you like it, feel free to modify it and share your results ! :)
Notes
I have been requested a lot of indicators lately, from mt4 translations to more complex time series analysis methods, this accumulation of work made that it is impossible for me to publish those within a short period of time, also some are really complex. I apologize in advance for the inconvenience, i will try to do my best !
Trend Score by KIVANÇ fr3762Trend Score compares close prices between last close with previous closes by a certain period of time.
It's like momentum but gives a score +1 when close price is equal to or above (defaultly) 10 bars ago and gives a score of -1 when below.
calculation continues from default length to the 2 times of length.
Defaultly (for 10 bars length)
If Trend Score converges to 10; that means there's a strong uptrend
conversely if Trend Score converges to -10; that means a strong downtrend market is on.
Z-Score Strategy Backtest The author of this indicator is Veronique Valcu. The z-score (z) for a data
item x measures the distance (in standard deviations StdDev) and direction
of the item from its mean (U):
z = (x-StdDev) / U
A value of zero indicates that the data item x is equal to the mean U, while
positive or negative values show that the data item is above (x>U) or below
(x Values of +2 and -2 show that the data item is two standard deviations
above or below the chosen mean, respectively, and over 95.5% of all data
items are contained within these two horizontal references (see Figure 1).
We substitute x with the closing price C, the mean U with simple moving
average (SMA) of n periods (n), and StdDev with the standard deviation of
closing prices for n periods, the above formula becomes:
Z_score = (C - SMA(n)) / StdDev(C,n)
The z-score indicator is not new, but its use can be seen as a supplement to
Bollinger bands. It offers a simple way to assess the position of the price
vis-a-vis its resistance and support levels expressed by the Bollinger Bands.
In addition, crossings of z-score averages may signal the start or the end of
a tradable trend. Traders may take a step further and look for stronger signals
by identifying common crossing points of z-score, its average, and average of average.
You can change long to short in the Input Settings
Please, use it only for learning or paper trading. Do not for real trading.
MAC-Z Indicator [LazyBear]This indicator is a composite of MACD and Z-Score (requested by @ChartAt). The general idea is that counter-trend component of the Z-score is used to adjust/improve the trend component of the MACD. The advantage is that it is a more accurate and “assumption-free” and can more accurately describe how a market or stock actually works in a given time frame.
I have also added support to smooth out the MAC-Z using Laguerre filter (Thanks @TheLark for the excellent LMA). Note that smoothing removes the "noise" component additive of Z-Score, so you may miss some good signals. By default Laguerre smoothing is OFF, I suggest playing with the Gamma to see if you can find a proper trade-off value.
Theme credits --> @liw0
More info:
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