Bollinger Bands Breakout StrategyBollinger Bands Breakout Strategy is the strategy version of Bollinger Bands Filter study version, which can be found under my scripts page. The strategy goes long when price closes above the upper band and goes short signal when price closes below the lower band.
Bollinger Bands is a classic indicator that uses a simple moving average of 20 periods, along with plots of upper and lower bands that are 2 standard deviations away from the basis line. These bands help visualize price volatility and trend based on where the price is, in relation to the bands.
The strategy doesn't take into account any other parameters such as Volume / RSI / Fundamentals etc, so user must use discretion based on confirmations from another indicator or based on fundamentals. The strategy results are based on purely long and short trades and doesn't take into account any user defined targets or stop losses.
The strategy works great when the price closes above/below upper/lower bands with continuation on next bar. It is definitely useful to have this strategy or the Bollinger Bands filter along with other indicators to get early glimpse of breach/fail of bands on candle close during BB squeeze or based on volatility .
This can be used on Heikin Ashi candles for spotting trends, but HA candles are not recommended for trade entries as they don't reflect true price of the asset.
The strategy settings default is 55 SMA and 1 standard deviation for Bollinger Bands filter, but these can be changed from settings.
It is definitely worth reading the 22 rules of Bollinger Bands written by John Bollinger if interested in trading Bollinger Bands successfully.
Filter
[A618]Improved Wave channel 3D The Script is an Amalgamation of Two prominent Scripts in One
1. Ehlers 2 Pole ButterWorth Filter
2. Wave Channel 3D
Intuitively,
Buy when Candles are above all the filter Lines
Sell when Candles are below the Filter Lines
CREDITS
[A618] Vortex Indicator Alert Screener [Noise Filtered]This Indicator helps you get alerts from Vortex Indicator if a trend is Established.
One of my followers asked me to do this: @Kiran_05
How this is made ?
1. Vortex Crossovers are taken into consideration in a noise filtered manner
2. Noise filtering is done by trend establishment due to Ehlers 2 pole ButterWorth Filter and EMA50 Crosses
How to use it ?
1. Can be used as a screener on the Script to generate the screened Securities from a Watchlist of Securities
2. Wait for a Candle break above of the generate green signal to get into trade, and vice versa
Credits :
@CheatCountry
For Ehlers 2 Pole Butterworth Filter V2
Hope this Helps
Band-Pass FilterJust a clean script that can be applied on top of other indicators/sources or you can take the function out of the source and use it in other scripts.
The idea for this was taken from www.pinecoders.com except I am utilizing an EMA instead of SMA. Simply put, we are combining a low-pass filter (moving average) with a high-pass filter (smoothed difference between the source and moving average). The result is a filter/moving average that provides a great combination of minimizing noise while still reacting strongly to price and trend changes.
I like to use this filter in place of other MAs in Pine Scripts to smooth my data. So instead of doing something like sma(stochastic,5) I can easily plug in bp(stochastic,5). It works just fine for your primary moving averages against price as well.
Tool: Chop & Trade ZonesA simple yet powerful way to filter out choppy ranges or sideways moves without missing out on good trades
It calculates the %-distance of the price to a moving average so you can ignore buy/sell signals around the center line.
The upper and lower line are thresholds to catch reversals of the trend when the distance to moving average is increasing.
Thanks @dgtrd and @imzeeshan for the inspiration 🙏
KINSKI Laguerre Filter WaveThe "Laguerre Filter Wave" Indicator usually shows market cycles and is a perfect fit for swing traders who trade with market fluctuations. Upward-trends are shown as green lines and optional bands. Downward trends are represented by the color red. Each of the 18 available lines can be adjusted to your own preferences via a gamma factor.
You also have the following display options:
- "Up/Down Movements: On/Off" - Shows ascending and descending of lines
- "Bands: On/Off" - Fills the space between the lines with colors to indicate up or down trends
- "Bands: Transparency" - sets the transparency of the fill color
- "MA Line: Size" - sets the width of the lines
- "MA Line: Transparency" - sets the transparency of the lines
Index Trend Filter - Weekend Trend TraderThis little script simply gives you a quick visual cue of where price is compared to a particular EMA of another security or underlying index.
It is based on Nick Radge's broader market filter weekend trend trader system, but can be applied to other timeframes if you want to confirm if the index is in an up trend or down trend.
• Green means the underlying index price is above the EMA
• Red means the underlying index price is below the EMA
Ehlers 2 Pole Butterworth Filter V2 [CC]The 2 Pole Butterworth Filter was created by John Ehlers (Cycle Analytics For Traders pg 32) and this is an updated version of his original 2 pole Butterworth Filter script that seems to follow the price even closer. Buy when the indicator line turns green and sell when it turns red.
Let me know if there are other scripts you would like to see me publish or if you want something custom done!
Ehlers 2 Pole Butterworth Filter V1 [CC]The 2 Pole Butterworth Filter was created by John Ehlers (Cybernetic Analysis For Stocks And Futures pg 192) and this is one of his many filters that cuts out the noise and follows the price very closely. I recommend combining a 2 pole and 3 pole system of the same type of filter. Buy when the indicator line is green and sell when it is red.
Let me know if there are other indicators you would like to see or if you want something custom done!
Ehlers Super PassBand Filter [CC]The Super PassBand Filter was created by John Ehlers (Stocks & Commodities V. 34:07 (10–13)) and this is a pretty useful indicator to let you know how volatile the market is right now. This is useful for scalpers because this lets you avoid the choppy markets (usually when the rms is 1.50 or less but feel free to choose your own level) and gives you good entry and exit points. Buy when the indicator line is green and sell when it is red.
Let me know if there are other indicators you would like to see me publish or if you want something custom done!
Ehlers 2 Pole Super Smoother Filter V1 [CC]The 2 Pole Super Smoother Filter was created by John Ehlers (Cybernetic Analysis For Stocks And Futures pg 202) and this one of his filters that follows the price very closely. I would recommend to change the default settings to what fits your trading style the best. Buy when the indicator line turns green and sell when it turns red.
Let me know if there are other scripts you would like to see or if you want something custom done!
Ehlers Laguerre Filter [CC]The Laguerre Filter was created by John Ehlers (Cybernetic Analysis For Stocks And Futures pg 216) and this indicator works well with letting you know both the short and long term trend as well as a pretty good moving average. If the indicator line is above the black line then it is a long term uptrend and below the black line is a long term downtrend. Buy when the indicator line is green and sell when it turns red.
Let me know if there are other scripts you would like to see me publish or if you want something custom done!
Ehlers Roofing Filter [CC]The Roofing Filter was created by John Ehlers (Cycle Analytics For Traders pgs 81-82) and this can be interpreted in a few ways. When the indicator crosses over its signal then it is a short term uptrend and when it crosses below its signal then it is a short term downtrend. It is also in a major uptrend or downtrend when it is above 0 and below 0 respectively. Buy when the indicator line is green and sell when the indicator line turns red.
Let me know if there are other indicators you would like to see me publish or if you want something custom done!
Ehlers Truncated BandPass Filter [CC]Hot off the presses! The Truncated BandPass Filter was created by John Ehlers (Stocks & Commodities July 2020) and this is a much more reactive version of his original bandpass filter. When the indicator rises above 0 then it is an uptrend and when it falls below 0 then it is in a downtrend. Buy when the indicator line is red and sell when it is green.
Let me know if there are other scripts you would like to see me publish or if you want something custom done!
Ehlers HighPass-LowPass Roofing Filter [CC]The HighPass-LowPass Roofing Filter was created by John Ehlers (Cycle Analytics For Traders pg78) and this is a variation of a roofing filter that will let you know which direction the stock is trending. If it falls below 0 then the stock is in a downtrend and if it rises above 0 then it is an uptrend. Buy when the indicator line is green and sell when it is red.
Let me know if there are other scripts you would like me to publish or if you want something custom done!
Ehlers 3 Pole Butterworth Filter [CC]The 3 Pole Butterworth Filter was created by John Ehlers (Cycle Analytics For Traders pg 32) and this is a nice filter that follows the price very closely. Buy when the indicator is green and sell when it turns red.
This was a custom request so let me know if you would like me to publish any other scripts or if you want something custom done!
Ehlers Spectrum Derived Filter Bank [CC]The Spectrum Derived Filter Bank was created by John Ehlers (Stocks & Commodities V. 26:3 (16-22)) and this is technically two indicators in one. This will let you know the current cycle period which is in blue and the other indicator will let you know if you should buy the stock or not. Buy when it is green and sell when it is red.
Let me know if you would like me to publish other scripts or if you want something custom done!
Note: I'm republishing this because the original script couldn't be found in searches so this will fix that.
Ehlers Dominant Cycle Tuned Bypass Filter [CC]The Dominant Cycle Tuned Bypass Filter was created by John Ehlers (Stocks & Commodities V. 26:3 (16-22)) and this is a particularly unique indicator because this does a pretty good job at predicting the future stock movements. If the blue line crosses over the red then a few bars from now the stock price will most likely go up and if the blue line crosses below the red then a few bars from now the stock price should go down. Since this is such a unique indicator to use with entry and exit points, I don't have them color coded but try this out and let me know what you think.
This was a special request so let me know what other scripts you would like to see me publish or if you want anything custom done!
Note: I'm republishing this because the original script couldn't be found in searches so this will fix that.
Ehlers Swiss Army Knife Indicator [CC]The Swiss Army Knife Indicator was created by John Ehlers (Stocks & Commodities V. 24:1 (28-31, 50-53)) and it is 9 different filters in one big mega indicator! This is my first attempt at allowing you all to select different timeframes, to choose if you allow repainting or not, or by letting you choose which indicator you want to see on the chart. I know this may cause problems so feel free to send me a pm if you are stuck or if you have any questions!
This was a custom request so please let me know if you want to see me publish any other scripts or if you want something custom done!
Note: I'm republishing this because the original script couldn't be found in searches so this will fix that.
[LunaOwl] Swing Filter作品: 擺盪濾波器 (Swing Filter)
This is a Swing Filter, the function is to remind you that you do not need to trade during the neutral period, only buy or long when the series is higher than the high-level you set, when the series is lower than the low-level you set, you need to short or hedge. Hope your to use it happily. In a larger time frame, the length can be set smaller, the default value is 100.
這是一個擺盪濾波器，它的功能是提醒您在中性時期不用交易，僅在市場高水平的時候買進持有或做多，當來到低水平時需要做空或對沖。希望使用愉快。此外，在較大的時間框架，期數設定小一點，預設是100。
Long Wick TrialI've created this as a confirmation indicator to help know when market conditions are favorable to enter a trade. It measures volume, volatility, and ATR. It is not intended to tell you when to enter/exit the market, but use it with another indicator such as the mirror macd to filter out many losses and avoid entering the market during low volume or excessive volatility that may trip your stop loss.
Green = Favorable Market conditions
Yellow = Enter with caution, the market is moving sideways but is slightly trending
Orange = Enter with caution, the market is trending but extremely volatile and may trip stop loss early
Black = Shouldn't enter market here, market is moving sideways and volume is also low.
Filter Information Box - PineCoders FAQWhen designing filters it can be interesting to have information about their characteristics, which can be obtained from the set of filter coefficients (weights). The following script analyzes the impulse response of a filter in order to return the following information:
Lag
Smoothness via the Herfindahl index
Percentage Overshoot
Percentage Of Positive Weights
The script also attempts to determine the type of the analyzed filter, and will issue warnings when the filter shows signs of unwanted behavior.
DISPLAYED INFORMATION AND METHODS
The script displays one box on the chart containing two sections. The filter metrics section displays the following information:
- Lag : Measured in bars and calculated from the convolution between the filter's impulse response and a linearly increasing sequence of value 0,1,2,3... . This sequence resets when the impulse response crosses under/over 0.
- Herfindahl index : A measure of the filter's smoothness described by Valeriy Zakamulin. The Herfindahl index measures the concentration of the filter weights by summing the squared filter weights, with lower values suggesting a smoother filter. With normalized weights the minimum value of the Herfindahl index for low-pass filters is 1/N where N is the filter length.
- Percentage Overshoot : Defined as the maximum value of the filter step response, minus 1 multiplied by 100. Larger values suggest higher overshoots.
- Percentage Positive Weights : Percentage of filter weights greater than 0.
Each of these calculations is based on the filter's impulse response, with the impulse position controlled by the Impulse Position setting (its default is 1000). Make sure the number of inputs the filter uses is smaller than Impulse Position and that the number of bars on the chart is also greater than Impulse Position . In order for these metrics to be as accurate as possible, make sure the filter weights add up to 1 for low-pass and band-stop filters, and 0 for high-pass and band-pass filters.
The comments section displays information related to the type of filter analyzed. The detection algorithm is based on the metrics described above. The script can detect the following type of filters:
All-Pass
Low-Pass
High-Pass
Band-Pass
Band-Stop
It is assumed that the user is analyzing one of these types of filters. The comments box also displays various warnings. For example, a warning will be displayed when a low-pass/band-stop filter has a non-unity pass-band, and another is displayed if the filter overshoot is considered too important.
HOW TO SET THE SCRIPT UP
In order to use this script, the user must first enter the filter settings in the section provided for this purpose in the top section of the script. The filter to be analyzed must then be entered into the:
f(input)
function, where `input` is the filter's input source. By default, this function is a simple moving average of period length . Be sure to remove it.
If, for example, we wanted to analyze a Blackman filter, we would enter the following:
f(input)=>
pi = 3.14159,sum = 0.,sumw = 0.
for i = 0 to length-1
k = i/length
w = 0.42 - 0.5 * cos(2 * pi * k) + 0.08 * cos(4 * pi * k)
sumw := sumw + w
sum := sum + w*input
sum/sumw
EXAMPLES
In this section we will look at the information given by the script using various filters. The first filter we will showcase is the linearly weighted moving average (WMA) of period 9.
As we can see, its lag is 2.6667, which is indeed correct as the closed form of the lag of the WMA is equal to (period-1)/3 , which for period 9 gives (9-1)/3 which is approximately equal to 2.6667. The WMA does not have overshoots, this is shown by the the percentage overshoot value being equal to 0%. Finally, the percentage of positive weights is 100%, as the WMA does not possess negative weights.
Lets now analyze the Hull moving average of period 9. This moving average aims to provide a low-lag response.
Here we can see how the lag is way lower than that of the WMA. We can also see that the Herfindahl index is higher which indicates the WMA is smoother than the HMA. In order to reduce lag the HMA use negative weights, here 55% (as there are 45% of positive ones). The use of negative weights creates overshoots, we can see with the percentage overshoot being 26.6667%.
The WMA and HMA are both low-pass filters. In both cases the script correctly detected this information. Let's now analyze a simple high-pass filter, calculated as follows:
input - sma(input,length)
Most weights of a high-pass filters are negative, which is why the lag value is negative. This would suggest the indicator is able to predict future input values, which of course is not possible. In the case of high-pass filters, the Herfindahl index is greater than 0.5 and converges toward 1, with higher values of length . The comment box correctly detected the type of filter we were using.
Let's now test the script using the simple center of gravity bandpass filter calculated as follows:
wma(input,length) - sma(input,length)
The script correctly detected the type of filter we are using. Another type of filter that the script can detect is band-stop filters. A simple band-stop filter can be made as follows:
input - (wma(input,length) - sma(input,length))
The script correctly detect the type of filter. Like high-pass filters the Herfindahl index is greater than 0.5 and converges toward 1, with greater values of length . Finally the script can detect all-pass filters, which are filters that do not change the frequency content of the input.
WARNING COMMENTS
The script can give warning when certain filter characteristics are detected. One of them is non-unity pass-band for low-pass filters. This warning comment is displayed when the weights of the filter do not add up to 1. As an example, let's use the following function as a filter:
sum(input,length)
Here the filter pass-band has non unity, and the sum of the weights is equal to length . Therefore the script would display the following comments:
We can also see how the metrics go wild (note that no filter type is detected, as the detected filter could be of the wrong type). The comment mentioning the detection of high overshoot appears when the percentage overshoot is greater than 50%. For example if we use the following filter:
5*wma(input,length) - 4*sma(input,length)
The script would display the following comment:
We can indeed see high overshoots from the filter:
@alexgrover for PineCoders
Look first. Then leap.
