This indicator is a tool designed to be used with Steven Hart's RSI Exhaustion strategy. For more information google TheTradingChannel or look him up on YouTube :)
The default RSI settings for this strategy are:
RSI Overbought: 80
RSI Oversold: 20
When the RSI gets above 80, the line will turn red and the script will begin looking for a specific...
This script attempts to find the end of countertrend.
This script uses oscillators to measure long term and short period trends. When the long term trend keeps positive and clear short term period is over, this script provides a buy signal.
This script does not contain pullback, cut loss and re-enter. You need to add it manually.
Contrarian Scalping is an trading strategy designed to take advanted of a counter-trend.
The advantage of these strrategies types is that they have a good profitability but with do not great gain (in relation at the time frame).
Rules for entry
For short: close of the price is above upper band from bb and...
The purpose of this script is to trade with the trend, trade trend continuation, and counter-trend trades.
Uptrend is price above 200 ema: Background is green and the bar colors are normal
Downtrend is price below 200 ema: Background is red and the bar colors are normal
Counter-trend to uptrend--Bar colors are white and the background is purple
Based on "How Naked Trading Works" video by Walter Peters: youtu.be I don't know this person and I am in no way affiliated with him. I just found his video interesting enough to make this into a script.
Rules as described by Walter in his video:
1. if current candle makes a higher high than the previous one
2. and is a bearish engulfing candle
3. and has room to...
I wanted to apply an RSI filter to some of the new Candlestick Patterns (in the indicators tab) since some of them looked to be quite effective for picking reversals. Turns out it's a pretty good pairing.
You can modify the RSI length in addition to the upper and lower thresholds. I also added in check boxes to combine different bullish and bearish patterns.
A dynamic envelope is designed to build an actual envelope that consider the volatility of a trading instrument.
A dynamic envelope is an ideal counter-trend indicator, it takes into account the nature of the movement of the instrument. At the same time, it does not require adjustment of parameters over time, it adjusts itself to volatility.
The indicator can be...
An interesting experiment to make an indicator act as a counter. I call it CCH - Close Counter Histogram.
It adds 1 when current close is higher than previous close and reduces -1 when current close is lower than previous close.
In the CCH settings you set how many bars to look back and use EMA to smooth the results or disable EMA smoothing.
Disable the EMA...
Multi-timeframe Squeeze and ADX
This indicator is designed to be able to get used in combination with others that can lead to a potential help for trading.
The indicator uses colors such us light green, dark green, light red and dark red. Light green and light red to indicate the second half and strongest movement of an upwards and downwards movement,...
About The Indicator
I want to start with a few short paragraphs of how this indicator came to be and why it's different than 80% of the indicators on this platform. If you are just interested in how the indicator works, you can skip the story, although I recommend at least skimming through it.
Originally, this indicator was developed to be part of a...
Yet another Array indicator, simple, but efficient which i call ADO. The indicator acts as a COUNTER of when CLOSE closes above OPEN and vice versa based on specified look back period in settings.
If we have more Closes above Opens, obviously the indicator will be above ZERO and GREEN, otherwise RED.
Optional to smooth it by EMA (true by default).
Like if you...
this is a mean reversion strategy using ema std deviations
use flat scaling 5 orders buy and sell - just close it back when it hits the VWMA
strategy operates to make dozens of small profitable trades in exchange for a larger loss on rare trending moves.
It works by projecting five 0.5% std deviations from the ema as volatility bands to help you scale into...
This is a simple algorithm that I used on timeframe > m30 to detect strong reversal signals based on :
- Engulfing pattern
- MACD ZL 12, 26, 9
- Price vs SMA 7
Last two parameters are optional but gives more security. Otherwise, waiting for confirmation gives later entry.
Up to you to find the right balance between too much security (and...
Script for grid trading on Bitmex XBTUSD 5min
A quick description for the input parameters. I can detail privately the ones that are important:
Points between two same dir trades = how much the price must change before a new DCA can happen
Points between SHORTS = same for short trades
Global Take Profit points = take profit for all open positions expressed in the...
Concept of this strategy or signal is Reversal and Counter Trend, as soon as the "power" have weaken, there will be show up signal for both of long and short, depends on the conditions.
At the moment, this strategy only valid for US stock, need further research for other instrument.