Reversal Bar RecognizerThis script recognizes some specific reversal bars(different kinds of pin bars) and plot arrow on chart to determine the next possible move. It uses a basic algorithm to find only the best reversal bars not all of them. It can also be used to setup alerts on TradingView when these bars show up.
ローソク足分析
Engulfing Bar IndicatorEngulfing Bar indicator is a pattern recognition indicator for Forex, Stocks, Indices, Futures, Commodities and Cryptos.
The Engulfing Bar indicator is an enhanced pattern of the popular Engulfing Bar to keep only the best patterns produced in the market.
The strategy that comes with the Engulfing Bar is based on price action.
Inputs of the indicator are:
MaxBars: number of bars back used to calculate the indicator
BuySignals (true/false): you can filter signals and decide to show BUY signals or not. Default settings is true (no filter).
SellSignals (true/false): you can filter signals and decide to show SELL signals or not. Default settings is true (no filter).
Alerts:
The alerts are managed by TradingView trading platform features and not by the indicator itself. You must use Engulfing Sell less than zero and Engulfing Buy greater than zero as settings for the alerts.
Trading rules:
For BUY: wait for a bullish Engulfing Bar to print on a support zone after a down trend. Wait for the price to break high of the Engulfing Bar (5 pips above the high for H1 and higher timeframes, 1 pip for M5). Immediately enter in the trade once high is broken. You also can use a BUY STOP order placed 5 pips above the high of the candle (plus spread). Stop Loss should be placed below the low of the Engulfing Bar. If order is not triggered in the next candle, then trade is invalidated and should be canceled.
For SELL: wait for a bearish Engulfing Bar to print on resistance zone after an up trend. Wait for price to break the low of the Engulfing (5 pips below the low for H1 and higher timeframes, 1 pip for M5). Immediately enter in the trade once low is broken. You also can use a SELL STOP order to place 5 pips below the low of the candle. Stop Loss should be placed above the high of the Engulfing Bar. If order is not triggered in the next candle then trade is invalidated and should be canceled.
The Engulfing Bar indicator can be used with any timeframe.
The Engulfing Bar indicator can be used with any class of asset: Forex, Stocks, Indices, Futures, Commodities and Cryptos.
For updates of the present description please visit our website (see signature below). We are not allowed by house rules of TradingView to update the present description nor to mention our web page directly in the description.
For any question or assistance please feel free to send a message to my TradingView inbox or contact us over our website if you prefer. I will answer as soon as I receive your request.
Moving Average of Upper and Lower Wicks with optional smoothingIn the book, The New Technical Trader by Tushar Chande and Stanley Kroll there is a part that talks about candlestick analysis and how the wicks play a role on how the price will behave. When wick lengths increase then there could be uncertainty. Weakening of support and resistance levels can also be seen by the size of the candlestick wicks or shadows. Shoutouts to Mango2Juice from Tradingview and the The Academy of Forex for helping me out in making this and providing the moving averages function.
When combined with other indicators or strategies, I find that this increases their accuracy when used correctly. For those that believe in price action, this might be worth a try. The book has only a brief section on candlestick wicks but it is one of the most interesting ideas I found. The book likes to include a simple moving average in its indicators with a certain length to provide a smoothing type of effect or a sort of extra indicator for the other to be above to give off quicker signals at the cost of accuracy. For this indicator it acts as a smoothing type effect which I put in because it is hard to see the slope and direction of where the moving averages of the wicks are going. The type of moving averages to use and the correct lengths are questionable and are not explained well in the book. If anyone can figure out a good use for this or know better settings or tips, please let me know.
Multi Time Frame CandlesHello Traders,
This script can show (upto) 3 candles of another time frames without changing chart time frame realtime . You can choose the time frame and number of candles in the options. You have option to change body and wick colors as well.
in this example number of candles is 2:
You can set body and wick colors:
In this example, weekly candles are shown on 1h chart:
Enjoy!
ArrowsI decided to republish this one without the trend filter and with all the major symbols active. This will allow for all the patterns to show up.
Due to 15 different candlestick formations in this one script, it will be difficult to turn off the last few due to screen size. You can turn off individual patterns on the settings screen.
I have everything spelled out except the hammer and inverted hammer . They are "H" and "IH" respectively on the charts. They show up so often that they cluttered the charts.
The default script has: Doji , Evening Star , Morning Star , Shooting Star , Hammer , Inverted Hammer , Bearish Harami, Bullish Harami, Bearish Engulfing , Bullish Engulfing , Piercing Line, Bullish Belt, Bullish Kicker, Bearish Kicker, Hanging man , and Dark Cloud Cover. You can turn off what you don't like. The Piercing Line, Bullish Belt, and the Kickers will usually show up better in the daily charts .
I recommend watching videos with Stephen Bigalow to get a feel for how to trade these. You will want to add an 8 EMA to your chart with his setups. Enjoy.
Body Gap Detector
This script was inherited from "GAP DETECTOR" by Asch- and the modified version is being published with consent of the author.
This script identifies gap up or gap down between candle bodies (for the selected time frame). The original script has been reworked to consider Open/Close instead of the High/Low. It identifies "Gap" up/down and indicates them with markers drawn from "Open/Close" of one candle to the "Close/Open" of another.
The default setting is to consider the last 1500 candles. "Gap Up" is indicated by Green bars and "Gap Down" is indicated with Red bars.
Jackrabbit.modulus.StopLossThis is an algorithic stop loss for the Jackrabbit suite and modulus framework.
This module is not a standalone and relies on previous modules to send a signal data in order to function properly. This module acts on buy and sell data from within the indicator on indicator framework that TradingView supports.
This module is NOT a substitute for a flat percentage based stop loss provided by trading platforms and many exchanges. This is an algorithic approach that is designed to follow the market. Such a methodology has been proven by many traders to help mitigate risk.
This module sets a risk/reward ratio to which a modified ATR is used to determine the stop loss and take profit. Note that the take profit can also be on the basis of the strategy sell markers. A multiplier and a look back are user configurable to help tune the module for more favorable results.
It is important to remember that this module does NOT allow accumulation, so your buying strategy will need to be surigical in nature to maximize your profits.
The Jackrabbit modulus framework is a plug in play paradigm built to operate through TradingView's indicator on indicatior (IoI) functionality. As such, this script receives a signal line from the previous script in the IoI chain, and evaluates the buy/sell signals appropriate to the current analysis.
This script is by invitation only. To learn more about accessing this script, please see my signature or send me a PM. Thank you.
Gowri_1.0 After going through various ORB stratergy, I wrote this pine script. This gives exact risk and quantity in the right side panel. so, risk management is always taken care of.
When to use: wait for the first five minutes after the market opens.
Which stocks: use with Market gainers after the first five minutes based on the signal.
Risk/reward: Say you have a capital of 50,000 and you want to risk 2% on one trade. So the risk comes out to be 1000. Means you can risk 1000 on one trade.
Let's say the stop loss on your setup comes out to be 5. Just divide the stop by the risk and that's the no. of shares you should trade. In this case 1000/5=200 shares.
Hunt for your targets:
Look for 1:1 or 1:2 target depending on the stop loss. If the stop is wide then go for just 1:1 or else go for 1:2
Tips for short plays:
This strategy works well on long trades rather than on the short side. As on the short side the action, most of the times, is very huge in the first 5 min bar which increases the risk on the trade. However you may apply ORB on the short side If the action is not very strong on the first bar and the stock actually develops a range for the first 30 minutes or so and then breaks it.
Popgun Bar PatternI created this script to research the trading effectiveness of the Popgun Bar Pattern.
The Popgun Bar Pattern is found when 3 candlesticks in order form the following pattern:
0. Any bar that is then followed by:
1. An inside bar. This is a bar that is completely engulfed by the bar before it. It will have a lower high and a higher low than the previous bar.
2. An outside bar immediately after. This is a bar that completely engulfs the prior inside bar. It will have a higher high and a lower low than the previous bar.
Simply put, the Popgun Bar Pattern is an inside bar followed by an outside bar.
I would highly recommend incorporating this signal as a "trigger" for existing technical analysis. Used in isolation it may not have a high probability of success.
To make it more effective as a trigger to a trading signal I incorporated into my code an Entry, Stop, and a Target dot.
The Entry dot is offset from the low of a bearish Popgun Bar Pattern or the high of a bullish Popgun Bar Pattern by a factor of ATR. The default ATR percentage is 33% but can be adjusted.
The Stop dot is based on the recent highest high (bearish) or lowest low (bullish) of a set range (default is 9 bars) plus/minus the ATR percentage buffer.
The Target dot is automatically calculated from the entry based on a configurable reward factor (default is 3) from the entry to stop distance. This projects a potential 3:1 reward/risk trade by default.
There is an additional alert condition which can be configured at the end of the script.
DePriExchange weighted price for cryptocurrencies
DECENTRALIZED PRICE CHART FOR DECENTRALIZED WORLD
See non-manipulated , globally price action that comes from whole liquidity!
The main idea behind this script is that...
The value of each trading pair finally determined globally and the price displayed in exchanges is its own and not global! differences between exchanges, reduced to near zero gradually by market makers and arbitrages, so..
Every min tick price changes Must be backed by liquidity to be part of the global fluctuations
more liquidity gives it more credibility
more credibility give it more weight
..Against opposing movements.
This script can collect price of crypto pairs from 12 exchanges that listed on TV and have effective volume.
In the first step, summarizes the volume of all exchanges and creates the total volume
In the next step, divide each exchange volume to total volume to obtain relative weight of each exchange.
In the final step, multiply each exchange price to weight of itself and summarizes these numbers .. now, we have Exchange weighted price!
The results on high liquidity pairs like BTCUSDT, ETHUSDT, is not much differ then simple chart but when you apply it on lower liquidity, lower time frames of altcoins, you realize its benefits and usefulness. Altcoins chart in composite and simple mode is very differ, I hope you enjoy from TRUE CHART.
With this, also you can..
Filter and smooth candlestick chart with SMA or EMA
Plot a line chart of pair at your desired frame separate from the main chart for monitor important price levels
Get realtime report of whole volume of pair on included exchanges
Get realtime report of each exchange weight and share
Note.1:
some of pairs queted on more than one like BTCUSD, BTCUSDT, BTCUSDC and etc. In this pairs we choose the one that usually has more volume on that exchange.
Note.2:
At this time, supported queted currencies are BTC, ETH, USD, USDT, BUSD, USDC, USDK.
Note.3:
This script is relatively heavy! This is not cuz of bad coding.
Each bar compution contains at least one plot and some of security calls, so 10 to 15 seconds is normal load time.
Note.4:
You can combine this with your price action base scripts and use balanced OHLCV. The necessary explanations about this are available in the code.
Note.5:
You must only include exchanges that support your ticker, Otherwise you will receive an error.
I hope it comes useful to you.
Lachie 5.0.1.2: DDS (Divergence Detection System)Introduction:
The purpose of this indicator is to assist users in detecting bullish and bearish divergence. This is purely for educational purposes and should only be used as an indicator to invest further time in TA.
This indicator is a further release of my previous indicator Lachie 3.0: DDS (Divergence Detection System).
How to interpret:
When a unique event occurs in the market the logic of the code will trigger:
-Bullish Divergence: Yellow X = divergence detected/forming, Orange X = strong confirmation, Green snow flake = targets end of divergence (fails sometimes)
-Bearish Divergence: Red X = Divergence detected/forming, Red snow flake = attempts to hit end of divergence/peaks
The chart may draw several characters in one location usually adding to the strength of the divergence.
What should I do when a character is painted on my chart:
As this is an educational indicator, I can only recommend that once a character(s) is drawn you should pay further attention to the currency/stock (do further Technical Analysis ). Treat this indicator as a hunting dog, looking for areas for you to investigate. You don’t give your dog the gun so please do not link it to automation and get tilted when something doesn’t go quite your way.
What time frames is this indicator best on:
This indicator was designed on a 1 hour chart. However, it does perform quite well on the daily, 4 and 6 hour charts. Its performance is reduced on 15 and 5 min since previous release (Lachie 3.0: DDS (Divergence Detection System)).
FAQ:
Should I Buy/Long when I see a bullish indicators?
I will not recommend any purchases without first proper TA. Majority of the time the indicator will correctly fin the bottom however in extreme down trends the code will display fake characters. Upon proper TA you will see how these are fake, but if you rely on a signal, you may get caught out.
Should I Sell/Short when I see a bearish indicators?
Only on 125x leve..... nope, please use this for educational purposes until full versions is released.
I am getting too many characters on my chart?
Although this was worked on heavily since previous release you may still encounter numerous characters in one place, for now this is quite normal and can happen when:
-High strength divergence.
-In a down trend occasionally the logic cannot correct interpret the weakness in the market.
Is this indicator applicable to any market?
Yes, although the indicator was developed based on Crypto Currency markets, the indicator is usable and in most instances more accurate on traditional markets.
Will there be future updates released?
As the code ages and further development is made, updates including increase accuracy for automation and signals may be released. This is really released for educational support. These updates may be released under a separate indicator listing.
This is an earlier derivative of current indicator with bullish and bearish divergence with higher accuracy (signal) script.
For access (vendor requirement):
Please contact me via private message on Trading View.
Images of Indicator:
Previous versions:
Lachie 3.0: DDS (Divergence Detection System)
Created and owned by Lachlan Schahinger. (2019)
CSRSCandlesticked RSI for price action traders!
See the True Momentum.
You can smooth RSI to remove noises and also find divergences.
fully customizable.
CC - Candle Momentum IndicatorA simple VWAP and SMA smoothing on the candles along with some momentum coloring. Basically, if the "slider" is slid all the way up and it turns red, moving down or losing volume t's probably going down. If it's all the way down and starts turning green, getting bigger and seeing volume, it's probably going up. this is a prototype indicator that I plan to extend using arrays and averages if it is seen as something useful.
Tweezer Pro IndicatorTweezer Pro Indicator is a pattern recognition indicator for Forex, Stocks, Indices, Futures, Commodities and Cryptos.
The standard Tweezer is a two bar pattern. Our enhanced version is a multi-bar pattern. We filter the patterns for you so that you only get the best and most effective patterns and ignore the noise.
The Tweezer pattern is a simple and effective pattern to trade.
The strategy that comes with the Tweezer is based on price action.
The indicator was developed with the expertise of Justin Mueller. The indicator uses same rules as Justin who is an expert trader using the Tweezer pattern for a while now. You can visit Justin Youtube channel, like and subscribe.
The indicator does what he was designed for: displaying Tweezer patterns. Don't expect to follow the up and down arrows and make money. Trading is not that simple. The Tweezer pattern is a starting point. The arrow is not a confirmed BUY and SELL signal in itself. The Tweezer indicator alerts you that the market might be at a turning point now. Then you must use other elements of your strategy (trend, momentum, support/resistance, volatility, daily bias, and other indicators) to confirm the signal and place a trade.
The Tweezer Pro version let users define their own pattern definition. This version is meant for expert traders who want to use their own optimized settings.
Inputs of the indicator are:
MaxBars: maximum number of bars back to calculate searching for signals
Settings (automatic/manual): you can either use the defaults settings optimized by Justin Mueller (automatic) or use your own settings (manual).
TrendPeriod (20 as default): number of candles the indicator should look back to determine current trend direction.
CandleSize (0.5 as default): minimum size for candles to consider pattern as valid (0.0:no filter, 0.5:middle size candle, 1.0:big candle only).
SameTailsSize (0.9 as default): check accuracy of same candle wicks size to validate pattern (0.0:ignore wick size criterion, 0.8:strict same size, 0.9:very strict same size).
SameOpenClose (0.9 as default): check accuracy of same open and close for the candles (0.0:ignore criterion, 0.8:strict same open/close, 0.9:very strict same open/close).
UseEngulfingFilter (true/false): if set to true then ignore patterns that do not include engulfing pattern.
UseEngulfingEvenAfter (true/false): if set to true then will also consider engulfing pattern with the next candle after the Tweezer formation.
Trading rules:
For BUY: wait for a bullish Tweezer (Tweezer bottom) to print on a support zone after a down trend. Wait for price to break high of the Tweezer pattern (5 pips above the high for H1 and higher time frames). Immediately enter in the trade once high is broken. You also can use a BUY STOP order placed 5 pips above the high of the candle (plus spread). Stop Loss should be placed below the low of the Tweezer pattern. If order is not triggered in the next candle then trade is invalidated and should be canceled.
For SELL: wait for a bearish Tweezer (Tweezer top) to print on resistance zone after an up trend. Wait for price to break the low of the Tweezer pattern (5 pips below the low for H1 and higher time frames). Immediately enter in the trade once low is broken. You also can use a SELL STOP order place 5 pips below the low of the candle. Stop Loss should be placed above the high of the Tweezer pattern. If order is not triggered in the next candle then trade is invalidated and should be canceled.
The Tweezer indicator can be used with any time frame.
The Tweezer indicator can be used with any class of asset: Forex, Stocks, Indices, Futures, Commodities and Cryptos.
Support and Resistance Levels with Breaks [LuxAlgo]This script provides basic pivot point Support and Resistance Levels to the user whilst displaying Break signal tags. It also has the ability to let the user display more significant breaks by filtering using the Volume Oscillator.
Only more significant breaks of these basic levels are displayed to the user when optimized which avoids noise and messy signals.
It will also display breaks with candles it deems to be bullish (e.g. having a longer upper or lower wick).
Notation
The notation of "B" denotes a break of either a Support or Resistance level with a volume greater than the threshold.
The notation of "Bull or Bear Wick" denotes a bullish or bearish candle on the break.
Settings:
Left Bars - the number of bars left hand side of the pivot.
Right Bars - the number of bars right hand side of the pivot.
Volume Threshold - the threshold value (%) for the Volume Oscillator.
Usage & Details:
Knowing when a pivot S/R level is broken with significance can be of great help to a trader. Many times significant levels may not be broken with significant force and the move is therefore weaker and possibly not worth trading.
Original Bravo SwingThe Bravo Swing is based on the methods taught by YouTube celebrity J Bravo.
It uses the 9 day moving average as a base for selecting optimal entry and exit points.
Buy indicator:
A full candle closing above the 9 day moving average generally indicates a bullish signal for an entry.
If conditions are right, this can be seen as a great opportunity to buy.
Sell indicator:
If the candles continue to close above the 9 day moving average, the trend appears to remain bullish.
However, an exit is to be considered once a candle closes below the 9 day moving average, as this indicates a bearish signal may be approaching.
If you you're feeling confident about the uptrend continuing and choose to ignore the exit signal, a candle close below the 20 day exponential moving average should be used as a definite exit point.
Options:
Color code option to display the 180 day moving average in gray during downtrends and white during an uptrend.
The 50 day moving average can be turned on to help better visualize conflicting trends.
Strat Signal Setup Scanner (5/15/30/60/D) - Part 3
** PLEASE READ BEFORE USING THIS INDICATOR **
This indicator is strictly for helping people like myself learn 'The Strat' method by Rob Smith. This indicator DOES NOT provide trading advice or trade entry signals!
This scanner is Part 3 only. Please use with Strat Signal Scanner's (5/15/30/60/D) Part 1 and 2 for full function.
A demo video of this indicator is available:
Change indicators label color’s and adjust scanner window as required.
Strat Signal and Setup Scanner (5/15/30/60/D) - Part 1/2/3 version is also available.
Strat Signal and Setup Scanner (5/15/30/60/D) - Part 1, 2 and 3 features:
Strat Signal Scanner - Part 1 - (The Current bar’s condition with Hammer / Shooting Star combos if identified)
Inside Bar
2UP
2DOWN
Outside Bar
Shooting Star (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Hammer (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Shooter-Hammer (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Hammer-Shooter (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Strat Signal Setup Scanner - Part 2 - (Previous Bar + Current bar to identify setups)
2U-1
2D-1
3-1
1-2U
1-2D
1-3
3-2U
3-2D
Strat Signal Setup Scanner - Part 3 - (Previous two bars + Current bar to identify setups)
3-1-2U
3-1-2D
2U-1-2U
2D-1-2D
2U-1-2D
2D-1-2U
1-2U-2D
1-2D-2U
How to use the Strat Signal and Setup Scanner?
Open the 3 indicators in order starting with Part 1, Part 2 then Part 3. That way the scanner headings (5/15/30/60/D) will line up with the setups signals.
IMPORTANT: For the scan to work across ALL Timeframe Groups (5/15/30/60/D) successfully you must open a 5min chart on the stock you want to scan.
Once the scan results are displayed with the 5min chart open you can then click on a 15/30/60/D chart to see the setups. But do not pay attention to the new lower timeframe scan results when you have a higher timeframe chart open as they will be incorrect.
For an example: a Successful (5/15/30/60/D) Scan = after you open a 5min chart only. If you open the 15min chart the (15/30/60/D) scan results will be correct but the 5min scan results will be incorrect. If you open the 30min chart the (30/60/D) results will be correct but the 5 and 15 scan results will be incorrect always go back to the 5min chart to correct. This anomaly if due to a historical data issue with pine script.
How to change the Scanner Labels and Text Color’s?
Color’s changed within the Indicator Settings. After you choose your color's on the 'Inputs' page make sure you click the drop down arrow next to 'Defaults' (bottom left of the indicator settings) and then click 'Save As Default' to save your personalised indicator preferences.
How to create an Alert?
With a 1HR chart open click on Add Alert.
Change Condition to Strat Signal Scanner Part 1, Part or Part 3
Now select signal/setup in drop down box below example: ‘Inside 60’
Click Create
A Warning will appear, click ‘Continue anyway’. An alert is now set.
Strat Signal Setup Scanner (5/15/30/60/D) - Part 2
** PLEASE READ BEFORE USING THIS INDICATOR **
This indicator is strictly for helping people like myself learn 'The Strat' method by Rob Smith. This indicator DOES NOT provide trading advice or trade entry signals!
This scanner is Part 2 only. Please use with Strat Signal Setup Scanner's (5/15/30/60/D) Part 1 and 3 for full function.
A demo video of this indicator is available:
Change indicators label color’s and adjust scanner window as required.
Strat Signal and Setup Scanner (60/D/W/M/Q) - Part 1/2/3 version is also available.
Strat Signal and Setup Scanner (60/D/W/M/Q) - Part 1, 2 and 3 features:
Strat Signal Scanner - Part 1 - (The Current bar’s condition with Hammer / Shooting Star combos if identified)
Inside Bar
2UP
2DOWN
Outside Bar
Shooting Star (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Hammer (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Shooter-Hammer (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Hammer-Shooter (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Strat Signal Setup Scanner - Part 2 - (Previous Bar + Current bar to identify setups)
2U-1
2D-1
3-1
1-2U
1-2D
1-3
3-2U
3-2D
Strat Signal Setup Scanner - Part 3 - (Previous two bars + Current bar to identify setups)
3-1-2U
3-1-2D
2U-1-2U
2D-1-2D
2U-1-2D
2D-1-2U
1-2U-2D
1-2D-2U
How to use the Strat Signal and Setup Scanner?
Open the 3 indicators in order starting with Part 1, Part 2 then Part 3. That way the scanner headings (5/15/30/60/D) will line up with the setups signals.
IMPORTANT: For the scan to work across ALL Timeframe Groups (5/15/30/60/D) successfully you must open a 5min chart on the stock you want to scan.
Once the scan results are displayed with the 5min chart open you can then click on a 15/30/60/D chart to see the setups. But do not pay attention to the new lower timeframe scan results when you have a higher timeframe chart open as they will be incorrect.
For an example: a Successful (5/15/30/60/D) Scan = after you open a 5min chart only. If you open the 15min chart the (15/30/60/D) scan results will be correct but the 5min scan results will be incorrect. If you open the 30min chart the (30/60/D) results will be correct but the 5 and 15 scan results will be incorrect always go back to the 5min chart to correct. This anomaly if due to a historical data issue with pine script.
How to change the Scanner Labels and Text Color’s?
Color’s changed within the Indicator Settings. After you choose your color's on the 'Inputs' page make sure you click the drop down arrow next to 'Defaults' (bottom left of the indicator settings) and then click 'Save As Default' to save your personalised indicator preferences.
How to create an Alert?
With a 1HR chart open click on Add Alert.
Change Condition to Strat Signal Scanner Part 1, Part or Part 3
Now select signal/setup in drop down box below example: ‘Inside 60’
Click Create
A Warning will appear, click ‘Continue anyway’. An alert is now set.
Strat Signal Scanner (5/15/30/60/D) - Part 1
** PLEASE READ BEFORE USING THIS INDICATOR **
This indicator is strictly for helping people like myself learn 'The Strat' method by Rob Smith. This indicator DOES NOT provide trading advice or trade entry signals!
This scanner is Part 1 only. Please use with Strat Signal Scanner's (5/15/30/60/D) Part 2 and 3 for full function.
A demo video of this indicator is available:
Change indicators label color’s and adjust scanner window as required.
Strat Signal and Setup Scanner (5/15/30/60/D) - Part 1/2/3 version is also available.
Strat Signal and Setup Scanner (5/15/30/60/D) - Part 1, 2 and 3 features:
Strat Signal Scanner - Part 1 - (The Current bar’s condition with Hammer / Shooting Star combos if identified)
Inside Bar
2UP
2DOWN
Outside Bar
Shooting Star (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Hammer (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Shooter-Hammer (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Hammer-Shooter (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Strat Signal Setup Scanner - Part 2 - (Previous Bar + Current bar to identify setups)
2U-1
2D-1
3-1
1-2U
1-2D
1-3
3-2U
3-2D
Strat Signal Setup Scanner - Part 3 - (Previous two bars + Current bar to identify setups)
3-1-2U
3-1-2D
2U-1-2U
2D-1-2D
2U-1-2D
2D-1-2U
1-2U-2D
1-2D-2U
How to use the Strat Signal and Setup Scanner?
Open the 3 indicators in order starting with Part 1, Part 2 then Part 3. That way the scanner headings (5/15/30/60/D) will line up with the setups signals.
IMPORTANT: For the scan to work across ALL Timeframe Groups (5/15/30/60/D) successfully you must open a 5min chart on the stock you want to scan.
Once the scan results are displayed with the 5min chart open you can then click on a 15/30/60/D chart to see the setups. But do not pay attention to the new lower timeframe scan results when you have a higher timeframe chart open as they will be incorrect.
For an example: a Successful (5/15/30/60/D) Scan = after you open a 5min chart only. If you open the 15min chart the (15/30/60/D) scan results will be correct but the 5min scan results will be incorrect. If you open the 30min chart the (30/60/D) results will be correct but the 5 and 15 scan results will be incorrect always go back to the 5min chart to correct. This anomaly if due to a historical data issue with pine script.
How to change the Scanner Labels and Text Color’s?
Color’s changed within the Indicator Settings. After you choose your color's on the 'Inputs' page make sure you click the drop down arrow next to 'Defaults' (bottom left of the indicator settings) and then click 'Save As Default' to save your personalised indicator preferences.
How to create an Alert?
With a 1HR chart open click on Add Alert.
Change Condition to Strat Signal Scanner Part 1, Part or Part 3
Now select signal/setup in drop down box below example: ‘Inside 60’
Click Create
A Warning will appear, click ‘Continue anyway’. An alert is now set.
Strat Signal Setup Scanner (60/D/W/M/Q) - Part 3** PLEASE READ BEFORE USING THIS INDICATOR **
This indicator is strictly for helping people like myself learn 'The Strat' method by Rob Smith. This indicator DOES NOT provide trading advice or trade entry signals!
This scanner is Part 3 only. Please use with Strat Signal Scanner's (60/D/W/M/Q) Part 1 and 2 for full function.
A demo video of this indicator is available:
Change indicators label color’s and adjust scanner window as required.
Intraday Strat Signal and Setup Scanner (5/15/30/60/D) - Part 1/2/3 version is also available.
Strat Signal and Setup Scanner (60/D/W/M/Q) - Part 1, 2 and 3 features:
Strat Signal Scanner - Part 1 - (The Current bar’s condition with Hammer/Shooting Star combos if identified)
Inside Bar
2UP
2DOWN
Outside Bar
Shooting Star (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Hammer (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Shooter-Hammer (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Hammer-Shooter (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Strat Signal Setup Scanner - Part 2 - (Previous Bar + Current bar to identify setups)
2U-1
2D-1
3-1
1-2U
1-2D
1-3
3-2U
3-2D
Strat Signal Setup Scanner - Part 3 - (Previous two bars + Current bar to identify setups)
3-1-2U
3-1-2D
2U-1-2U
2D-1-2D
2U-1-2D
2D-1-2U
1-2U-2D
1-2D-2U
How to use the Strat Signal and Setup Scanner?
Open the 3 indicators in order starting with Part 1, Part 2 then Part 3. That way the scanner headings (60/D/W/M/Q) will line up with the setups signals.
IMPORTANT: For the scan to work across ALL Timeframe Groups (60/D/W/M/Q) successfully you must open a 1HR (60min) chart on the stock you want to scan.
Once the scan results are displayed with the 1HR chart open you can then click on a Daily, Weekly, Monthly or Quarter chart to see the setups. But do not pay attention to the new lower timeframe scan results when you have a higher timeframe chart open as they will be incorrect.
For an example: a Successful (60/D/W/M/Q) Scan = after you open a 1HR chart only. If you open the Daily chart the (D/W/M/Q) scan results will be correct but the 60 scan results will be incorrect. If you open the Weekly chart the (W/M/Q) results will be correct but the 60 and Daily scan results will be incorrect always go back to the 1HR chart to correct. This anomaly if due to a historical data issue with pine script.
How to change the Scanner Labels and Text Color’s?
Color’s changed within the Indicator Settings. After you choose your color's on the 'Inputs' page make sure you click the drop down arrow next to 'Defaults' (bottom left of the indicator settings) and then click 'Save As Default' to save your personalised indicator preferences.
How to create an Alert?
With a 1HR chart open click on Add Alert.
Change Condition to Strat Signal Scanner Part 1, Part or Part 3
Now select signal/setup in drop down box below example: ‘Inside 60’
Click Create
A Warning will appear now click ‘Continue anyway’. An alert is now set.
Strat Signal Setup Scanner (60/D/W/M/Q) - Part 2** PLEASE READ BEFORE USING THIS INDICATOR **
This indicator is strictly for helping people like myself learn 'The Strat' method by Rob Smith. This indicator DOES NOT provide trading advice or trade entry signals!
This scanner is Part 2 only. Please use with Strat Signal Scanner's (60/D/W/M/Q) Part 1 and 3 for full function.
A demo video of this indicator is available:
Change indicators label color’s and adjust scanner window as required.
Intraday Strat Signal and Setup Scanner (5/15/30/60/D) - Part 1/2/3 version is also available.
Strat Signal and Setup Scanner (60/D/W/M/Q) - Part 1, 2 and 3 features:
Strat Signal Scanner - Part 1 - (The Current bar’s condition with Hammer/Shooting Star combos if identified)
Inside Bar
2UP
2DOWN
Outside Bar
Shooting Star (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Hammer (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Shooter-Hammer (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Hammer-Shooter (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Strat Signal Setup Scanner - Part 2 - (Previous Bar + Current bar to identify setups)
2U-1
2D-1
3-1
1-2U
1-2D
1-3
3-2U
3-2D
Strat Signal Setup Scanner - Part 3 - (Previous two bars + Current bar to identify setups)
3-1-2U
3-1-2D
2U-1-2U
2D-1-2D
2U-1-2D
2D-1-2U
1-2U-2D
1-2D-2U
How to use the Strat Signal and Setup Scanner?
Open the 3 indicators in order starting with Part 1, Part 2 then Part 3. That way the scanner headings (60/D/W/M/Q) will line up with the setups signals.
IMPORTANT: For the scan to work across ALL Timeframe Groups (60/D/W/M/Q) successfully you must open a 1HR (60min) chart on the stock you want to scan.
Once the scan results are displayed with the 1HR chart open you can then click on a Daily, Weekly, Monthly or Quarter chart to see the setups. But do not pay attention to the new lower timeframe scan results when you have a higher timeframe chart open as they will be incorrect.
For an example: a Successful (60/D/W/M/Q) Scan = after you open a 1HR chart only. If you open the Daily chart the (D/W/M/Q) scan results will be correct but the 60 scan results will be incorrect. If you open the Weekly chart the (W/M/Q) results will be correct but the 60 and Daily scan results will be incorrect always go back to the 1HR chart to correct. This anomaly if due to a historical data issue with pine script.
How to change the Scanner Labels and Text Color’s?
Color’s changed within the Indicator Settings. After you choose your color's on the 'Inputs' page make sure you click the drop down arrow next to 'Defaults' (bottom left of the indicator settings) and then click 'Save As Default' to save your personalised indicator preferences.
How to create an Alert?
With a 1HR chart open click on Add Alert.
Change Condition to Strat Signal Scanner Part 1, Part or Part 3
Now select signal/setup in drop down box below example: ‘Inside 60’
Click Create
A Warning will appear now click ‘Continue anyway’. An alert is now set.
Strat Signal Scanner (60/D/W/M/Q) - Part 1** PLEASE READ BEFORE USING THIS INDICATOR **
This indicator is strictly for helping people like myself learn 'The Strat' method by Rob Smith. This indicator DOES NOT provide trading advice or trade entry signals!
This scanner is Part 1 only. Please use with Strat Signal Scanner's (60/D/W/M/Q) Part 2 and 3 for full function.
A demo video of this indicator is available:
Change indicators label color’s and adjust scanner window as required.
Intraday Strat Signal and Setup Scanner (5/15/30/60/D) - Part 1/2/3 version is also available.
Strat Signal and Setup Scanner (60/D/W/M/Q) - Part 1, 2 and 3 features:
Strat Signal Scanner - Part 1 - (The Current bar’s condition with Hammer/Shooting Star combos if identified)
Inside Bar
2UP
2DOWN
Outside Bar
Shooting Star (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Hammer (signal will trigger when candle is forming live not after the candle has closed allowing you to prepare)
Shooter-Hammer (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Hammer-Shooter (signal will trigger when pattern is forming live AND after both the Shooter and Hammer candles have closed giving you the new bar to action)
Strat Signal Setup Scanner - Part 2 - (Previous Bar + Current bar to identify setups)
2U-1
2D-1
3-1
1-2U
1-2D
1-3
3-2U
3-2D
Strat Signal Setup Scanner - Part 3 - (Previous two bars + Current bar to identify setups)
3-1-2U
3-1-2D
2U-1-2U
2D-1-2D
2U-1-2D
2D-1-2U
1-2U-2D
1-2D-2U
How to use the Strat Signal and Setup Scanner?
Open the 3 indicators in order starting with Part 1, Part 2 then Part 3. That way the scanner headings (60/D/W/M/Q) will line up with the setups signals.
IMPORTANT: For the scan to work across ALL Timeframe Groups (60/D/W/M/Q) successfully you must open a 1HR (60min) chart on the stock you want to scan.
Once the scan results are displayed with the 1HR chart open you can then click on a Daily, Weekly, Monthly or Quarter chart to see the setups. But do not pay attention to the new lower timeframe scan results when you have a higher timeframe chart open as they will be incorrect.
For an example: a Successful (60/D/W/M/Q) Scan = after you open a 1HR chart only. If you open the Daily chart the (D/W/M/Q) scan results will be correct but the 60 scan results will be incorrect. If you open the Weekly chart the (W/M/Q) results will be correct but the 60 and Daily scan results will be incorrect always go back to the 1HR chart to correct. This anomaly if due to a historical data issue with pine script.
How to change the Scanner Labels and Text Color’s?
Color’s changed within the Indicator Settings. After you choose your color's on the 'Inputs' page make sure you click the drop down arrow next to 'Defaults' (bottom left of the indicator settings) and then click 'Save As Default' to save your personalised indicator preferences.
How to create an Alert?
With a 1HR chart open click on Add Alert.
Change Condition to Strat Signal Scanner Part 1, Part or Part 3
Now select signal/setup in drop down box below example: ‘Inside 60’
Click Create
A Warning will appear now click ‘Continue anyway’. An alert is now set.
Reversal closing priceThe reversal closing price (RCP) is a candlestick pattern which follows two simples rules:
the low price of current candle needs to be lower than the low price of the last 2 candles
the closing price of current candle needes to be higher than the closing price of the last candle
This generates a signal for a long position. For a short position, the conditions are inverted:
the high price of current candle needs to be higher than the high price of the last 2 candles
the closing price of current candle needes to be lower than the closing price of the last candle
Since RCP is a trend follower indicator, the strategy is programmed in such a way that long positions are only placed if the short period EMA is above the long period EMA, and short positions are only placed if the short EMA is bellow the long EMA. Both periods are configurable, and should be ajusted for each asset.
This strategy uses a fixed stop loss and take profit, and the it's ratio is configurable. The stop price is one tick lower than the lowest price of X candles prior to the order execution for long positions, while in short positions it's one tick higher than the higher price. The amount of candles to lookback (X) is configurable. Both stop and take profit prices are displayed, the first as a red line, and the second as a green line.
This is the setting that I've found to work best with TVC:SPX , but you may find a better setting. While the RCP is universal, it's placement depends on the trend and it's strenght, something that is very heterogeneous among assets.
I really wish that I was able to place images, but I don't have PRO, so text will have to do.
This strategy was designed by Alexandre Wolwacz, a.k.a. Stormer.
