Market Open Range Breakaway v1.2Script Name: Market Open Range Breakaway 1.2
This TradingView script, "Market Open Range Breakaway," highlights the market's opening range for a user-selected day of the week. It calculates the high and low prices during a specified period after the market opens, plots these levels, and tracks the opening price. The script dynamically adjusts for time zones and only displays data during market hours on the chosen day, with optional background shading for the defined range period.
Purpose: Identifies and highlights the market's opening range for a selected day of the week.
Features: Calculates and plots the high, low, and open price during the market's opening range.
Configurable range duration (e.g., 15, 30, or 60 minutes).
Automatically adjusts for different time zones.
Displays levels only during market hours on the target day.
Optional background shading for the opening range.
Inputs: Target day of the week.
Opening range duration.
Use Case: Ideal for traders looking to analyze breakout levels or price movements around the opening range.
インジケーターとストラテジー
Daily Manipulation and Distribution Levels with Buy/Sell SignalsIndicator Summary:
This indicator is designed for intraday traders, highlighting key price levels and providing simple buy/sell signals based on price manipulation and distribution concepts.
Key Features:
Core Levels:
Manipulation Plus/Minus: Derived from the daily open and a portion of the daily range (e.g., 25%).
Distribution Levels: Daily high and low serve as ultimate targets or resistance/support levels.
Buy and Sell Signals:
Buy Signal: Triggered when the price crosses above the Manipulation Plus level. A green "BUY" label marks the entry.
Sell Signal: Triggered when the price crosses below the Manipulation Minus level. A red "SELL" label marks the entry.
Clean Chart Design:
Hides unnecessary clutter, showing only relevant key levels and labeled signals for clarity.
How to Use:
Entry Points:
Buy Entry: When a green "BUY" label appears after the price breaks above the Manipulation Plus level.
Sell Entry: When a red "SELL" label appears after the price breaks below the Manipulation Minus level.
Exit Strategy:
Take Profit: Use the Distribution Levels (daily high/low) as take-profit zones.
Stop Loss: Set just above/below the Manipulation Levels to manage risk effectively.
One to Two Trades per Session: Focus on high-probability moves to ensure clarity and reduce overtrading.
Who It’s For:
This indicator is ideal for traders seeking a structured and visual approach to intraday trading, with clear entry/exit criteria based on price manipulation and distribution theory. It simplifies decision-making and ensures clean chart setups without overwhelming visuals.
Heikin Ashi Processed Generalized Smooth StepDisclaimer : This is my attempt of smoothing and improving @tarasenko_ script. Find the originial author here :
Overview:
The Smooth Step Heikin Ashi Indicator is an enhanced version of the original script developed by tarasenko_. This advanced TradingView tool integrates Heikin Ashi candlestick calculations with a sophisticated smoothing oscillator, offering traders improved trend visualization and dynamic alert capabilities.
Key Enhancements:
Refined Heikin Ashi Calculations: The indicator computes smoothed Open, High, Low, and Close (OHLC) values with adjustable factors, allowing for more precise trend analysis. It also includes an optional second-level modified Heikin Ashi calculation for additional smoothing.
Advanced Smooth Step Oscillator: Utilizing Pascal’s triangle, this oscillator provides a visual representation of price momentum. Traders can configure the lookback period, equation order, and threshold to tailor the oscillator to specific trading strategies.
Enhanced Customization Options: Users can toggle between standard and Heikin Ashi candles, adjust smoothing parameters, and set display preferences to align with their analytical needs.
Noise Reduction: Smoothes out market fluctuations using customizable Heikin Ashi factors. Introduces a second-level smoothing option for even greater noise reduction, allowing traders to focus on the core trend.
Original Indicator :
Heikin Ashi processed version :
Visualization Features:
Heikin Ashi Candles: Displays candles with customizable colors and visibility settings, aiding in clearer trend identification.
Smooth Step Oscillator Line: Plots a line that reflects trend strength and momentum, assisting traders in making informed decisions.
Threshold Line: Provides a visual reference point to facilitate quick assessments of market conditions.
Conclusion:
Building upon tarasenko_'s original work, the Smooth Step Heikin Ashi Indicator delivers a robust tool for traders seeking refined market analysis. Its combination of advanced smoothing techniques and dynamic alert features makes it a valuable addition to any trader's toolkit.
Volume-Based Bar ColorThis indicator changes the bar color if the bar has more than a specified amount of volume. Best use case would be to apply it to a tick chart (ex: 500 Tick) and set the volume threshold to say 590-600 volume. This would show you visually where and when 18-20% more volume than required was in a candle. That candle can then be used to identify volume based zones where buys and sellers may be in control. Works well with volume profile.
SMB MagicSMB Magic
Overview: SMB Magic is a powerful technical strategy designed to capture breakout opportunities based on price movements, volume spikes, and trend-following logic. This strategy works exclusively on the XAU/USD symbol and is optimized for the 15-minute time frame. By incorporating multiple factors, this strategy identifies high-probability trades with a focus on risk management.
Key Features:
Breakout Confirmation:
This strategy looks for price breakouts above the previous high or below the previous low, with a significant volume increase. A breakout is considered valid when it is supported by strong volume, confirming the strength of the price move.
Price Movement Filter:
The strategy ensures that only significant price movements are considered for trades, helping to avoid low-volatility noise. This filter targets larger price swings to maximize potential profits.
Exponential Moving Average (EMA):
A long-term trend filter is applied to ensure that buy trades occur only when the price is above the moving average, and sell trades only when the price is below it.
Fibonacci Levels:
Custom Fibonacci retracement levels are drawn based on recent price action. These levels act as dynamic support and resistance zones and help determine the exit points for trades.
Take Profit/Stop Loss:
The strategy incorporates predefined take profit and stop loss levels, designed to manage risk effectively. These levels are automatically applied to trades and are adjusted based on the market's volatility.
Volume Confirmation:
A volume multiplier confirms the strength of the breakout. A trade is only considered when the volume exceeds a certain threshold, ensuring that the breakout is supported by sufficient market participation.
How It Works:
Entry Signals:
Buy Signal: A breakout above the previous high, accompanied by significant volume and price movement, occurs when the price is above the trend-following filter (e.g., EMA).
Sell Signal: A breakout below the previous low, accompanied by significant volume and price movement, occurs when the price is below the trend-following filter.
Exit Strategy:
Each position (long or short) has predefined take-profit and stop-loss levels, which are designed to protect capital and lock in profits at key points in the market.
Fibonacci Levels:
Fibonacci levels are drawn to identify potential areas of support or resistance, which can be used to guide exits and stop-loss placements.
Important Notes:
Timeframe Restriction: This strategy is designed specifically for the 15-minute time frame.
Symbol Restriction: The strategy works exclusively on the XAU/USD (Gold) symbol and is not recommended for use with other instruments.
Best Performance in Trending Markets: It works best in trending conditions where breakouts occur frequently.
Disclaimer:
Risk Warning: Trading involves risk, and past performance is not indicative of future results. Always conduct your own research and make informed decisions before trading.
Infinity Market Grid -AynetConcept
Imagine viewing the market as a dynamic grid where price, time, and momentum intersect to reveal infinite possibilities. This indicator leverages:
Grid-Based Market Flow: Visualizes price action as a grid with zones for:
Accumulation
Distribution
Breakout Expansion
Volatility Compression
Predictive Dynamic Layers:
Forecasts future price zones using historical volatility and momentum.
Tracks event probabilities like breakout, fakeout, and trend reversals.
Data Science Visuals:
Uses heatmap-style layers, moving waveforms, and price trajectory paths.
Interactive Alerts:
Real-time alerts for high-probability market events.
Marks critical zones for "buy," "sell," or "wait."
Key Features
Market Layers Grid:
Creates dynamic "boxes" around price using fractals and ATR-based volatility.
These boxes show potential future price zones and probabilities.
Volatility and Momentum Waves:
Overlay volatility oscillators and momentum bands for directional context.
Dynamic Heatmap Zones:
Colors the chart dynamically based on breakout probabilities and risk.
Price Path Prediction:
Tracks price trajectory as a moving "wave" across the grid.
How It Works
Grid Box Structure:
Upper and lower price levels are based on ATR (volatility) and plotted dynamically.
Dashed green/red lines show the grid for potential price expansion zones.
Heatmap Zones:
Colors the background based on probabilities:
Green: High breakout probability.
Blue: High consolidation probability.
Price Path Prediction:
Forecasts future price movements using momentum.
Plots these as a dynamic "wave" on the chart.
Momentum and Volatility Waves:
Shows the relationship between momentum and volatility as oscillating waves.
Helps identify when momentum exceeds volatility (potential breakouts).
Buy/Sell Signals:
Triggers when price approaches grid edges with strong momentum.
Provides alerts and visual markers.
Why Is It Revolutionary?
Grid and Wave Synergy:
Combines structural price zones (grid boxes) with real-time momentum and volatility waves.
Predictive Analytics:
Uses momentum-based forecasting to visualize what’s next, not just what’s happening.
Dynamic Heatmap:
Creates a living map of breakout/consolidation zones in real-time.
Scalable for Any Market:
Works seamlessly with forex, crypto, and stocks by adjusting the ATR multiplier and box length.
This indicator is not just a tool but a framework for understanding market dynamics at a deeper level. Let me know if you'd like to take it even further — for example, adding machine learning-inspired probability models or multi-timeframe analysis! 🚀
MM8 Professional Regression Histogram
The MM8 Professional Regression Histogram is a cutting-edge TradingView script designed to provide traders with advanced visual insights using regression analysis. This tool is particularly useful for identifying price trends and volatility zones with precision. Its unique approach combines a regression channel with a histogram representation, enabling users to better understand price behavior and distribution.
Key Features:
Dynamic Regression Channel:
Utilizes linear regression to calculate a price channel over a customizable period (Length).
Automatically adjusts the width of the channel using a Multiplier based on market volatility.
Supports user-defined Line Styles (solid, dashed, dotted) for clear visualization.
Gradient-Based Channel Visualization:
The upper and lower channel lines are color-coded with a gradient that transitions between user-specified colors.
This provides a visually intuitive way to understand price movement within the channel.
Interactive Histogram:
Displays a histogram representing price distribution across segmented bins within the channel.
The histogram dynamically updates based on the number of bins (Bins Number) and reflects the density of price action in each section.
Customizable histogram color for better integration with individual chart setups.
Custom Styling Options:
Flexible options to tailor the appearance, including:
Channel colors (upper and lower).
Histogram bin color.
Toggle the histogram display on or off.
Accurate and Real-Time Calculations:
Implements robust mathematical techniques for regression analysis.
Dynamically recalculates at each bar close to ensure the most accurate representation of the market.
Applications:
Trend Analysis: The regression channel helps identify prevailing market trends by tracking price movement and its deviation from the channel center.
Volatility Detection: The histogram bins provide a visual representation of volatility within the channel, highlighting areas of price congestion and low volatility.
Scalping and Range Trading: With its granular segmentation, the tool is perfect for scalpers and range traders seeking to pinpoint high-probability trade zones.
Enhanced Decision Making: By combining regression channels with histogram visualization, traders gain a comprehensive understanding of both trend direction and price distribution.
Why Choose MM8 Professional Regression Histogram ?
This tool is built on state-of-the-art financial modeling principles, making it a unique addition to any trader's toolkit. Whether you are a beginner or an advanced trader, this script offers a level of precision and customization rarely seen in traditional indicators.
Make informed decisions and gain a competitive edge in the market with MM8 Regression Histogram. Your path to smarter trading starts here.
Aligned Highs and Lows (0.25% Error, 3+ Required)This indicator shows when three or more bars in a row have the same end as the previous start within a 0.25% range. This helps identify when there is a possible accumulation or an attempt to break a support or resistance level from an order block.
MA Ratio Weighted Trend System I [InvestorUnknown]The MA Ratio Weighted Trend System I combines slow and fast indicators to identify stable trends and capture potential market turning points. By dynamically adjusting the weight of fast indicators based on the Moving Average Ratio (MAR), the system aims to provide timely entry and exit signals while maintaining overall trend stability through slow indicators.
Slow and Fast Indicators with Dynamic Weighting
Slow Indicators: Designed for stable trend identification, these indicators maintain a constant weight in the overall signal calculation. They include:
DMI For Loop (Directional Movement Index)
CCI For Loop (Commodity Channel Index)
Aroon For Loop
Fast Indicators: Aim to detect rapid market changes and potential turning points. Their weights are dynamically adjusted based on the absolute value of the Moving Average Ratio (MAR). Fast indicators include:
ZLEMA For Loop (Zero-Lag Exponential Moving Average)
IIRF For Loop (Infinite Impulse Response Filter)
Dynamic Weighting Mechanism:
Moving Average Ratio (MAR) is calculated as the ratio of the price to its moving average, minus one (for simplicity and visualization).
Weight Calculation
Fast indicator weights are determined based on the absolute value of MAR, possibly with an offset to avoid scenarios where MAR follows rapid price reversals too closely:
// Function to calculate weights based on MAR
f_mar_weights(series float mar, simple int offset, simple float weight_thre) =>
o_mar = math.abs(mar )
float fast_weight = 0
float slow_weight = 1
if o_mar != 0
if weight_thre > 0
if o_mar <= weight_thre
fast_weight := o_mar
else
fast_weight := o_mar
Threshold-Based vs. Continuous Weighting:
Threshold-Based: Fast indicators receive weight only when the absolute MAR exceeds a user-defined threshold (weight_thre).
Continuous: By setting weight_thre to zero, fast indicators always receive some weight, though this may increase false signals.
Offset Mechanism
The offset parameter shifts the MAR used for weighting by a certain number of bars. This helps avoid situations where the MAR follows sudden price movements too closely, preventing fast indicators from failing to provide timely exit signals.
Signal Calculation
The final signal is a weighted average of the slow and fast indicators:
// Calculate Signal (as weighted average)
float sig = math.round(((DMI*slow_w) + (CCI*slow_w) + (Aroon*slow_w) + (ZLEMA*fast_w) + (IIRF*fast_w)) / (3*slow_w + 2*fast_w), 2)
Backtesting and Performance Metrics
Enables users to test the indicator's performance over historical data, comparing it to a buy-and-hold strategy.
Alerts
Set up alerts for when the signal crosses above or below the thresholds.
alertcondition(long_alert, "LONG (MAR Weighted Trend System)", "MAR Weighted Trend System flipped ⬆LONG⬆")
alertcondition(short_alert, "SHORT (MAR Weighted Trend System)", "MAR Weighted Trend System flipped ⬇Short⬇")
Important Notes
Customization: Due to the experimental nature of this indicator, users are strongly encouraged to adjust and calibrate the settings to align with their trading strategies and market conditions.
Default Settings Disclaimer: The default settings are not optimized or recommended for any specific use and serve only as placeholders for the indicator's publication.
Backtest Results Disclaimer: Historical backtest results are not indicative of future performance. Market conditions change, and past results do not guarantee future outcomes.
BUY/SELL Timeframe ContinuityTime frame continuity refers to the alignment of price trends across multiple time frames. This means that the price movement is showing a consistent trend (either up or down) on various timeframes, like the 5-minute, 30-minute, hourly, and daily charts.
Why is it important?
Confirms Trend Strength: When multiple timeframes align, it indicates a strong and sustained trend.
Risk Management: Trading in the direction of the aligned trend can reduce risk.
This indicator checks if the current price of a selected timeframe is above or below its opening price. A buy/sell signal appears the second all bullish timeframes align (buy) or all bearish timeframes align. You can choose to paint the candles when the buy/sell conditions happen. You can select up to 10 different timeframes.
NOTE: With this indicator I prefer timeframes 15m, 30m, 1H, 4H, D, 5D, W - Together these timeframes are great for short-term trends on any stock.
Cosmic Cycle Trader -AYNETThe "Cosmic Cycle Trader 🌌"
Here's a summarized breakdown of the code:
Inputs
Orbital Periods (Moving Averages):
User specifies moving average (MA) periods as a comma-separated string (e.g., "10,20,50,100").
Predefined colors for each MA are used.
Fibonacci Sphere Levels:
User specifies Fibonacci retracement levels as a string (e.g., "0.236,0.382,0.618,1.0").
Color customization for Fibonacci levels is included.
Gravitational Pull (Signal Thresholds):
Configurable thresholds (buy_pull and sell_pull) to define signal triggers.
Alerts can be toggled on or off.
Core Features
Helper Functions:
parse_floats: Converts a comma-separated string into an array of floating-point numbers.
parse_ints: Converts a comma-separated string into an array of integers.
Orbital Periods (Moving Averages):
Moving averages are calculated for the given periods using the ta.sma function.
Each MA is stored in an array and plotted on the chart with a unique color.
Fibonacci Spheres:
Fibonacci levels are calculated based on the high and low of the current bar.
These levels are plotted as circles, visually indicating key price zones.
Signals:
Buy Signal: Triggered when:
The price closes above the highest MA.
The price is between specific Fibonacci levels.
Sell Signal: Triggered when:
The price closes below the lowest MA.
The price is below specific Fibonacci levels.
Alerts:
Alerts are created for buy and sell signals.
Signals are also annotated on the chart with labels and shapes.
Visual Elements
Plots:
Moving averages are plotted with distinct colors and line widths.
Fibonacci spheres are plotted as circles with customizable transparency.
Shapes:
Triangles indicate buy (green) and sell (red) signals on the chart.
Labels:
Buy signals display a "🌕 Buy" label.
Sell signals display a "🌑 Sell" label.
Purpose
This indicator helps traders identify potential buy and sell zones based on:
Moving average trends (orbital periods).
Key Fibonacci retracement levels.
Configurable thresholds (gravitational pull).
This combination of technical analysis tools makes it a visually appealing and functional indicator for traders.
Fibonacci Rainbow Day Trade-AYNETSummary of the "Fibonacci Rainbow Day Trade"
This script dynamically calculates Fibonacci retracement levels based on the daily high and low and plots them as colorful lines on the chart. It is designed for day traders to visually identify potential support and resistance zones using Fibonacci levels.
Key Features:
Dynamic Fibonacci Levels:
Levels are calculated using the daily high (day_high) and low (day_low).
Default levels: 0, 0.236, 0.382, 0.5, 0.618, 0.786, 1.
These levels represent key areas where price is likely to react.
Colorful Rainbow Visualization:
Each Fibonacci level is represented by a unique color.
Colors are defined in a rainbow_colors array: red, orange, yellow, green, blue, purple, teal.
Customizable Inputs:
Users can modify the Fibonacci levels, line thickness (fibo_line_width), and whether to show labels.
Labels display the level percentage (e.g., 0.236) at their respective lines.
Optional Labels:
The script includes labels that annotate each Fibonacci level on the chart.
Labels are placed beside the corresponding lines for clarity.
Works on Any Timeframe:
Although the levels are based on the daily high/low, the script can be applied to any intraday timeframe.
Use Case:
Identify Support and Resistance Zones:
Watch for price reactions near Fibonacci levels to determine potential entry/exit points.
Dynamic Updates:
Fibonacci levels are updated daily, ensuring they remain relevant for intraday trading.
Custom Visualization:
Adjust levels, colors, and display options to suit your trading style.
Example Calculation:
Daily High: $120
Daily Low: $100
Fibonacci 0.618 Level: $100 + ($120 - $100) * 0.618 = $111.36
This script provides a visually appealing and effective way to incorporate Fibonacci levels into day trading strategies. 🌈
Volatility % (Standard Deviation of Returns)This script takes closing prices of candles to measure the Standard Deviation (σ) which is then used to calculate the volatility by taking the stdev of the last 30 candles and multiplying it by the root of the trading days in a year, month and week. It then multiplies that number by 100 to show a percentage.
Default settings are annual volatility (252 candles, red), monthly volatility (30 candles, blue) and weekly volatility (5 candles, green) if you use daily candles. It is open source so you can increase the number of candles with which the stdev is calculated, and change the number of the root that multiplies the stdev.
Roman's Ranges(GOLD FUTURES)This indicator provides the user with Gold Future's previous day’s range and how long it took for the price to reach its first extreme for the day. This information is used to predict the most probable daily direction trend and estimate how long you should expect to hold your winning trade. The distance and time are based on the market open candle (6:30 am). It measures from the retracement wick of the candle to the last 5m close of the day’s first extreme low or high point. It also includes that distance in pts.
Previous market data does not guarantee future results, however, you can leverage the knowledge of the previous day’s ranges to set reasonable take profit levels and when your target is not met automatically, you know how long it took on the previous day to reach the day’s first low/high. If you are nearing that amount of time and your trade is not as profitable as expected, it is easier to get out with less profits using this estimated time rather than hoping the market closes in your favor.
Markets go through cycles and it can be difficult to trade them all if you have a fault expectation how how far the price is expected to move. Price tends to deviate slowly from the average ranges slightly day after day, but you can expect an average range to prevail throughout the week +/- 3 points. It can be very easy to be stuck on 5-point take-profit levels that you don’t pay attention to the average range being twice or three times that distance. The same can be said for the opposite scenario with having higher profit expectations than reasonably possible.
This indicator and my statements are not financial advice. This is meant for educational purposes only.
GP - SRSI ChannelGP - SRSI Channel Indicator
The GP - SRSI Channel is a channel indicator derived from the Stochastic RSI (SRSI) oscillator. It combines SRSI data from multiple timeframes to analyze minimum, maximum, and closing values, forming a channel based on these calculations. The goal is to identify overbought and oversold zones with color coding and highlight potential trading opportunities by indicating trend reversal points.
How It Works
SRSI Calculation: The indicator calculates the Stochastic RSI values using open, high, low, and close prices from the selected timeframes.
Channel Creation: Minimum and maximum values derived from these calculations are combined across multiple timeframes. The midpoint is calculated as the average of these values.
Color Coding: Zones within the channel are color-coded with a gradient from red to green based on the ratios. Green zones typically indicate selling opportunities, while red zones suggest buying opportunities.
Visual Elements:
The channel boundaries (min/max) are displayed as lines.
Overbought/oversold regions (95-100 and 0-5) are highlighted with shaded areas.
Additional explanatory labels are placed on key levels to guide users.
How to Use
Trading Strategy: This indicator can be used for both trend following and identifying reversal points. Selling opportunities can be evaluated when the channel reaches the upper green zone, while buying opportunities can be considered in the lower red zone.
Timeframe Selection: Users can analyze multiple timeframes simultaneously to gain a broader perspective.
Customization: RSI and Stochastic RSI parameters are adjustable, allowing users to tailor the indicator to their trading strategies.
Important Note
This indicator is for informational purposes only and should not be used as a sole basis for trading decisions. Please validate the results of the indicator with your own analysis.
MA Rainbow-AYNETSummary of the "MA Rainbow"
The 200 MA Rainbow script creates a visually appealing representation of multiple moving averages (MAs) with varying lengths and colors to provide insights into price trends and market momentum.
Key Features:
Base Moving Average:
A starting point (ma_length, default 200) is used as the foundation for all other bands.
Rainbow Bands:
The script generates multiple moving averages (bands) with increasing lengths, spaced by a user-defined band_spacing multiplier.
The number of bands is controlled by rainbow_bands, allowing up to 7 bands.
Moving Average Types:
Users can select the MA type: Simple (SMA), Exponential (EMA), or Weighted (WMA).
Dynamic Colors:
Each band is assigned a unique color from a predefined rainbow palette, making the chart visually distinct.
Inputs for Customization:
ma_length: Adjust the base period of the moving average.
rainbow_bands: Set the number of bands to display.
band_spacing: Control the spread between bands.
How It Works:
Precomputing Bands:
Each band’s length is calculated based on the base length (ma_length) and a multiplier (band_spacing).
For example, if ma_length = 200 and band_spacing = 0.2, the lengths of the first 3 bands will be:
Band 1: 200
Band 2: 240
Band 3: 280
Global Plotting:
Each band’s moving average is precomputed using the selected type (SMA, EMA, or WMA).
Bands are plotted globally to avoid scope issues, ensuring compatibility with Pine Script rules.
Color Cycling:
Colors are assigned dynamically from a rainbow palette (red, orange, yellow, green, blue, purple, teal).
Use Case:
The 200 MA Rainbow helps traders:
Visualize market trends with multiple layers of moving averages.
Identify areas of support and resistance.
Gauge momentum through the spread and alignment of bands.
Customization:
Users can:
Change the base moving average length (ma_length).
Adjust the number of bands (rainbow_bands).
Control the spread between bands with band_spacing.
Select the moving average type (SMA, EMA, WMA).
Application:
Copy the script into the Pine Editor in TradingView.
Apply it to your chart to observe the Rainbow MA visualization.
Adjust inputs to match your trading style or strategy.
This script is a versatile tool for both beginner and advanced traders, providing a colorful way to track price trends and market conditions. 🌈
Sharpe Ratio Z-ScoreThe "Sharpe Ratio Z-Score" indicator is a powerful tool designed to measure risk-adjusted returns in financial assets. This script helps investors evaluate the performance of a security relative to its risk, using a Z-score based modification of the Sharpe Ratio. The indicator is suitable for assessing market environments and understanding periods of underperformance or overperformance relative to historical standards.
Features:
Risk Assessment and Scaling: The indicator calculates a modified version of the Sharpe Ratio
over a user-defined period. By using scaling and mean offset adjustments, it allows for better
fitting to different market conditions.
Customizable Settings:
Period Length: The number of bars used to calculate the Sharpe Ratio.
Mean Adjustment: Offset value to adjust the average return of the calculated Sharpe ratio.
Scale Factor: A multiplier for emphasizing or reducing the calculated score's impact.
Line Color: Easily customize the plot's appearance.
Visual Cues:
Plots horizontal lines and fills specific regions to visually represent significant Z-score levels.
Highlighted zones include risk thresholds, such as overbought (positive Z-scores) and oversold
(negative Z-scores) areas, using intuitive color fills:
Green for areas below -0.5 (potential buy opportunities).
Red for areas above 0.5 (potential sell opportunities).
Yellow for neutral zones between -0.5 and 0.5.
Use Cases:
Risk-Adjusted Decision Making: Understand when returns are favorable compared to risk, especially during volatile market conditions.
Timing Reversion to Mean: Use highlighted zones to identify potential reversion-to-mean scenarios.
Trend Analysis: Identify times when an asset's performance is significantly deviating from its
average risk-adjusted return.
How It Works:
The script computes the daily returns over a set period, calculates the standard deviation of
those returns, and then applies a modified Sharpe Ratio approach. The Z-score transformation
helps to visualize how far an asset's risk-adjusted return deviates from its historical average.
This "Sharpe Ratio Z-Score" indicator is well-suited for investors seeking to combine quantitative metrics with visual cues, enhancing decision-making for long and short positions while maintaining a risk-adjusted perspective.
SessionsOverview of the "Sessions" Indicator
The "Sessions" indicator is a powerful tool designed for traders who want to visualize and analyze the market activity during different global trading sessions directly on their charts. This indicator highlights the London, New York, Tokyo, and Sydney sessions with distinct background colors, making it easy to see when each market is open.
Key Features
Session Visualization: The indicator provides clear visual cues for the active trading sessions, allowing traders to quickly identify periods of high market activity.
Customizable Timeframes: Users can set their preferred resolution for viewing session data, making it adaptable to any trading strategy.
Automatic Session Detection: The indicator automatically detects the start and end of each session based on specified times, updating in real-time as the market progresses.
Practical Applications
Trend Identification: By observing how prices move during specific sessions, traders can identify trends and make informed predictions about future price movements.
Volatility Analysis: Different sessions often exhibit varying levels of volatility. This indicator helps traders anticipate potential price spikes or lulls during these times.
Strategy Optimization: Traders can optimize their strategies by focusing on sessions that align with their trading style, whether it's the high volatility of the London session or the quieter Sydney session.
Market Overlap: The indicator makes it easy to see when sessions overlap, which is typically when the market experiences increased liquidity and volatility.
Conclusion
The "Sessions" indicator is an essential tool for traders looking to enhance their market analysis by visualizing global trading sessions. Whether you're a day trader seeking to capitalize on volatile market conditions or a swing trader looking for optimal entry and exit points, this indicator provides valuable insights into market dynamics.
Dynamic Supply & Demand Zones- AYNETSummary of the Code: Dynamic Supply & Demand Zones
This Pine Script creates dynamic supply (resistance) and demand (support) zones on a chart by identifying the highest and lowest prices over a user-defined lookback period. It visualizes these zones with shaded regions and horizontal lines that dynamically adjust to price movements.
Key Features:
Dynamic Support Zone (Demand):
Calculated using the lowest price in the last lookback bars.
Creates a shaded region around this price, extended up and down by a user-defined zone width.
Horizontal lines clearly mark the top and bottom of the demand zone.
Dynamic Resistance Zone (Supply):
Calculated using the highest price in the last lookback bars.
Similarly, a shaded region and lines are drawn for this zone, representing supply.
Customizable Inputs:
lookback: Number of bars to calculate the highest and lowest prices.
zone_width: The buffer distance above/below the highest/lowest price to create the zone.
Colors: Separate color inputs for the fill and lines of support and resistance zones.
Dynamic Updates:
Both zones update automatically as new bars are added and the highest/lowest prices change.
Visual Representation:
The script uses plot to create shaded regions and line objects to draw horizontal boundaries.
How It Works:
Inputs:
The user provides a lookback period and zone_width.
Calculations:
Lowest price in the last lookback bars defines the support zone.
Highest price in the same period defines the resistance zone.
Plotting:
The zones are plotted with shaded regions and dynamic lines.
Use Case:
This indicator helps identify key price levels where supply (resistance) or demand (support) is likely to affect price movement.
Useful for traders who rely on support/resistance levels in their strategies.
Let me know if you'd like further enhancements or integrations! 😊
Dynamic Trend Lines-AYNETCode Summary: Dynamic Trend Lines
This code dynamically draws trend lines and labels based on swing highs and lows identified from historical price action.
Key Features
Swing Point Detection:
Uses the ta.pivothigh and ta.pivotlow functions to identify recent swing highs and swing lows based on a customizable lookback period.
Trend Lines:
Uptrend Line:
Draws a line connecting swing low points.
Colored in blue by default.
Downtrend Line:
Draws a line connecting swing high points.
Colored in red by default.
Lines dynamically adjust as new swing points are identified.
Labels:
Adds a circle-style label at each swing high and swing low.
Displays the price value of the swing point.
Labels have:
Green background for uptrends.
Red background for downtrends.
Customizable Inputs:
lookback: Sensitivity of swing point detection (higher value = fewer swings).
line_color_up and line_color_down: Colors for the trend lines.
label_bg_up and label_bg_down: Colors for the label backgrounds.
Auto Updates:
Trend lines and labels update dynamically as the chart progresses, ensuring they reflect the latest market conditions.
How It Works
Identify Swing Points:
Detects local highs and lows within the defined lookback period.
Draw Lines:
Uptrend lines are drawn from the most recent swing lows.
Downtrend lines are drawn from the most recent swing highs.
Add Labels:
Each swing point is labeled with its price value for easy reference.
Visual Output
Trend Lines:
Blue for uptrends, red for downtrends.
Labels:
Circular labels with price values:
Green for swing lows (uptrend points).
Red for swing highs (downtrend points).
Example Use Case
This script is useful for traders who want to:
Visually identify key trend lines based on swing highs and lows.
Understand the critical price points of market reversals.
Use labeled price points for informed trade decisions.
Let me know if you'd like any specific refinements! 😊
Candlestick Pattern ScannerCandlestick Pattern Scanner
This indicator identifies popular candlestick patterns on the chart and provides visual and alert-based support for traders. Based on technical analysis, it provides insights into potential trend reversals or continuation signals in price action. The following patterns are detected and marked:
1. Bullish Engulfing
Definition: Considered a strong bullish signal. A small red candle is followed by a large green candle that completely engulfs the previous one.
Chart Display: Marked with a green arrow below the price bar.
Alert Message: "Bullish Engulfing Pattern Detected!"
2. Bearish Engulfing
Definition: Considered a strong bearish signal. A small green candle is followed by a large red candle that completely engulfs the previous one.
Chart Display: Marked with a red arrow above the price bar.
Alert Message: "Bearish Engulfing Pattern Detected!"
3. Doji
Definition: Indicates indecision in the market. The candlestick has an opening and closing price that are almost the same, forming a very small body.
Chart Display: Marked with a blue triangle below the price bar.
Alert Message: "Doji Pattern Detected!"
4. Hammer
Definition: Can signal a strong bullish reversal. It has a long lower shadow and a small body, often appearing at the end of a downtrend.
Chart Display: Marked with an orange triangle below the price bar.
Alert Message: "Hammer Pattern Detected!"
5. Shooting Star
Definition: Can signal a strong bearish reversal. It has a long upper shadow and a small body, often appearing at the end of an uptrend.
Chart Display: Marked with a purple triangle above the price bar.
Alert Message: "Shooting Star Pattern Detected!"
Features:
Visual Support: Patterns are clearly marked on the chart using distinct shapes (arrows and triangles).
Alerts: Receive real-time notifications through TradingView’s alert system when a pattern is detected.
Versatility: Useful for identifying both trend reversals and continuation signals.
User-Friendly: Patterns are easily distinguishable with unique color coding.
Purpose:
This indicator helps traders identify potential reversal points or strong trend beginnings in price action. It can be used as a supportive tool in scalping, swing trading, or long-term investment strategies.
Solar Movement Gradient-AYNETSummary of the Solar Movement Gradient Indicator
This Pine Script creates a dynamic, colorful indicator inspired by solar movements. It uses a sinusoidal wave to plot oscillations over time with a rainbow-like gradient that changes based on the wave's position.
Key Features
Sinusoidal Wave:
A wave oscillates smoothly based on the bar index (time) or optionally influenced by price movements.
The wave’s amplitude, baseline, and wavelength can be customized.
Dynamic Colors:
A spectrum of seven colors (red, orange, yellow, green, blue, purple, pink) is used.
The color changes smoothly along with the wave, emulating a solar gradient.
Background Gradient:
An optional gradient fills the background with colors matching the wave, adding a visually pleasing effect.
Customizable Inputs
Gradient Speed:
Adjusts how fast the wave and colors change over time.
Amplitude & Wavelength:
Controls the height and smoothness of the wave.
Price Influence:
Allows the wave to react dynamically to price movements.
Background Gradient:
Toggles a colorful gradient in the chart’s background.
Use Case
This indicator is designed for visual appeal rather than trading signals. It enhances the chart with a dynamic and colorful representation, making it perfect for aesthetic customization.
Let me know if you need further refinements! 🌈✨
Stick Figure - AYNETKey Features
Customizable Inputs:
base_price: Sets the vertical position (price level) where the figure's feet are placed.
bar_offset: Adjusts the horizontal placement of the stick figure on the chart.
body_length, arm_length, leg_length, head_size: Control the proportions of the stick figure.
Stick Figure Components:
Head: A horizontal line to symbolize the head.
Body: A vertical line for the torso.
Arms: A horizontal line extending from the torso.
Legs: Two diagonal lines representing the legs.
Dynamic Positioning:
The stick figure can be moved along the chart using bar_offset (horizontal) and base_price (vertical).
How It Works
Head:
A horizontal line (line.new) is drawn above the torso using the specified head_size.
Body:
A vertical line connects the head to the base price (base_price).
Arms and Legs:
Arms are horizontal lines extending from the middle of the body.
Legs are diagonal lines extending from the bottom of the torso.
Error Handling:
All x1 and x2 parameters are converted to int using int() to comply with Pine Script's requirements.
Example Use Case
This script is purely for fun and visualization:
Create visual markers for specific price levels or events.
Customize the stick figure's proportions to make it more prominent on the chart.
Let me know if you'd like further refinements or additions! 😊
