RTI Thresholds Index | mad_tiger_slayerOverview of the Script
The Relative Trend Index (RTI) Threshold Index is a custom indicator for TradingView that enhances a Relative Trend Index (RTI) . The RTI is designed to reflect the market’s trend strength by comparing the current price to dynamically calculated upper and lower trend boundaries. Additionally, the indicator includes overbought and oversold thresholds, and Trend-coded signals to visually represent market conditions for easier analysis. The RTI Threshold Index is created and meant for long term investments targeted for longer swing trades over a few months to years.
How Do Investors Use the RTI Trend Index?
In the provided chart image, the indicator is displayed on a Bitcoin price chart. Here’s what each visual component represents:
INTENDED USES
The RTI Threshold Index is NOT intended for SCALPING.
With the nature of its components and calculations. This indicator will give false signals when the Timeframe is too low. The best intended use for high-quality signals are above the 12hr timeframes (Note: Coded to be used above 1 Day Timeframes)
The RTI Threshold Index is a TREND-FOLLOWING and MEAN REVERTING INDICATOR . With the explanation below of the image you can see both Trend-Following and Mean Reversion Uses.
A VISUAL REPRESENTATION INTENDED USES
Relative Trend Index Line (Green/Red): The main RTI line changes colors based on long or short conditions, providing an immediate visual cue of the trend direction. This conditional state enter long when the RTI is greater than the long threshold and will not enter short until it is less than the short threshold. (vice versa) When the RTI is less than the short threshold and will not enter long until it is greater than the long threshold.
EMA of RTI: A smoothed version of the RTI in yellow for more stable trend analysis. This EMA can be used for LONGER TERM trends. When the smoothed RTI is above 50, investors can assume that the trend will be in a trending state. Because this is slower than the RTI, you will get slower entries and slower exits.
Threshold Lines: Green and red lines for long and short thresholds, along with dashed lines for overbought and oversold levels. These lines can be calibrated to allow the RTI to enter a long trending or short trending state. The lower the value is for Long Threshold line , it will enter a long trend faster. The higher the value for Short Threshold Line , it will exit faster. We can also set Overbought and Oversold Thresholds. With the RTI entering above the Overbought Threshold line, Investors can assume that the environment is getting heated or is overbought. Same for oversold with the RTI entering below the Oversold Threshold line, Investors can assume that the environment is getting heated or is overbought.
Gradient Background: Shaded overbought and oversold areas improve readability by distinguishing these zones. This coloring of the shaded area tells us the oversold and overbought levels.
Colored Candles: Candles change color based on the RTI condition, aligning the price action visually with the trend status. The Green symbolizes a long state while red symbolizes a short state.
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The indicator's primary elements include:
Input Parameters: Configurable settings for trend length, sensitivity, moving average (MA) period, thresholds, and overbought/oversold levels.
RTI Calculation: Computation of trend boundaries and the RTI value based on the price's position within these boundaries.
Visual Components: Horizontal threshold lines, plotted RTI values, color-coded candles, and gradient fills for overbought and oversold zones.
1. Input Parameters
The script includes several configurable inputs, allowing users to customize the indicator’s sensitivity and behavior according to market conditions:
Trend Length: Controls the number of data points for trend calculations. Higher values produce a smoother, less responsive trend, while lower values make the trend more sensitive to recent price changes.
Trend Sensitivity: Sets the sensitivity by defining the upper and lower percentiles for the trend boundaries. Higher sensitivity values make the RTI less reactive, while lower values increase responsiveness.
MA length: Defines the period for the Exponential Moving Average (EMA) applied to the RTI, smoothing its output.
longThreshold and shortThreshold: Set the levels for entering long and short positions. The RTI crossing above longThreshold or below shortThreshold signals a long or short condition, respectively.
Overbought and oversold thresholds: When RTI exceeds overbought or falls below oversold, it indicates overbought or oversold market conditions.
2. Relative Trend Index (RTI) Calculation
The RTI is calculated by dynamically setting upper and lower trend boundaries:
Upper Trend and Lower Trend: Calculated by adding and subtracting the standard deviation of the closing price to/from the close, providing a measure of price variation.
upper array and Lower Arrays : Arrays that hold the upper and lower trend values over the specified trend length period.
Sorting and Indexing: After sorting these arrays, the values at specific percentiles (based on trend sensitivity) are selected as UpperTrend and LowerTrend.
RTI formula: The RTI is calculated by normalizing the close price within the range of UpperTrend and LowerTrend. This yields a percentage that reflects the price's relative position within the trend range.
3. Threshold and Signal Lines
Several horizontal lines mark key threshold levels:
midline: A dashed line at 50, marking the RTI midpoint.
overbought and oversold: Dashed lines for the overbought and oversold levels as set by overbought and oversold.
long hline and short hline: Solid lines marking the longThreshold and shortThreshold levels for entering long and short trades. They are colored Green for long threshold and Red for short threshold
4. Long and Short Conditions
The script defines long and short conditions based on the RTI’s position relative to the longThreshold and shortThreshold:
isLong: Set to true when the RTI exceeds longThreshold, signaling a long condition.
isShort: Set to true when the RTI drops below shortThreshold, signaling a short condition. overboughtcandles and oversoldcandles: Boolean variables that indicate when the RTI crosses the overbought or oversold thresholds, enhancing visual feedback.
5. Color Coding
Color-coded elements help to visually indicate the RTI's current state:
rtiColor: Sets the RTI line color based on the long or short condition (green for long, red for short).
obosColor: Colors specific candles in the overbought (yellow) and oversold (purple) regions, adding clarity to these conditions.
6. Plotting and Visualization
The following components display the RTI indicator and its conditions visually:
RTI and EMA Plot: The RTI line is plotted alongside an EMA line for smooth trend observation. The RTI line uses the conditional colors to indicate market conditions.
Background Gradient Fill: Shaded areas between the overbought and oversold levels highlight these zones in the background.
Colored Candles: Candles on the price chart are color-coded based on the RTI condition (green for long, red for short), making it easy to see trend direction changes.
Overbought and Oversold Gradient Fill: Gradient fills are applied to the overbought and oversold regions, creating a visual effect when the RTI reaches extreme levels.
Conclusion
The RTI Threshold Indicator is a powerful tool for assessing trend strength and market conditions. With configurable parameters, it adapts well to various timeframes and market environments, providing investors with a reliable means to identify potential entry and exit points. With configurable parameters, RTI Threshold Indicator can identify market conditions for potential buy and sell zones.
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Uphorico Candle RangesThis script allows you to see the high and low prices of a specific previous timeframe directly on your TradingView chart. You can choose which previous period to view—previous month, week, day, or last Monday—and the script will plot two horizontal lines for the high and low prices of that period. These lines help you quickly identify key levels based on past performance.
Features of the Script:
1. Select Previous Timeframe: You can choose between:
• Month: Shows the high and low of the previous month.
• Week: Shows the high and low of the previous week.
• Day: Shows the high and low of the previous day.
• Monday: Shows the high and low of the most recent Monday.
2. Line Customization:
• Color: Choose different colors for the high and low lines.
• Thickness: Adjust the line thickness (1–5).
• Style: Choose from solid, dashed, or dotted lines.
3. Touch Source Candle Option:
• If enabled, the lines will start directly at the last candle of the selected timeframe (e.g., at the last candle of the previous month or week).
• If disabled, the lines will start from the current bar and extend to the right.
How It Works:
• The script retrieves the high and low prices from your selected previous timeframe and draws two horizontal lines (one for the high and one for the low).
• These lines provide a quick visual reference for key support and resistance levels based on past periods, making it easier to spot potential price action zones.
This tool is designed to be simple and customizable, helping you analyze past levels and make better trading decisions.
Custom 4 Moving Averages with Styles & ThresholdsThis Pine Script indicator is designed to provide traders with a unique method of analyzing price action through four customizable moving averages, alongside buy and sell threshold detection. The script is fully original and adds value by allowing traders to configure and visualize multiple MAs with different smoothing options, and by detecting critical buy/sell moments based on the interaction between price and the moving averages.
What the Script Does:
Custom Moving Averages: The script plots four distinct moving averages (MA1, MA2, MA3, and MA4) on the chart. Each MA can be configured for length, offset, and optional smoothing to match different trading strategies. This flexibility allows traders to tailor the script for various timeframes, trend detection, and market conditions.
Buy (BT) and Sell (ST) Threshold Detection: The indicator identifies critical points for buying and selling:
Buy Threshold (BT): The script identifies potential buy points when the current candle's low is above the MA2 from the previous candle, suggesting potential upward momentum.
Sell Threshold (ST): It detects potential sell points when the current MA2 falls below the previous candle’s low, indicating possible downward momentum. These thresholds are clearly marked on the chart with green arrows for BT (Buy) and red arrows for ST (Sell).
Horizontal Threshold Lines: Horizontal lines are drawn when BT or ST conditions are met. These lines help traders visualize support and resistance levels, providing clarity in decision-making. The length of these lines is customizable, allowing users to control how long they remain visible on the chart.
Dynamic Cleanup of Old Lines: To keep the chart clean and reduce clutter, the script automatically removes old BT and ST lines after a set period, ensuring that traders can focus on the most relevant data.
Underlying Concepts:
Moving Averages: Moving averages are a fundamental tool in technical analysis for identifying trends. This script uses various moving averages (calculated from high, low, close, and HL2) and allows for smoothing to adjust the sensitivity to price movements. Traders can apply this flexibility to multiple trading styles, from scalping to swing trading.
Threshold Conditions: The buy and sell conditions in this script are based on simple but effective price action patterns, where the interaction between price and MA2 determines entry or exit points. This approach is useful in trend-following strategies, where traders aim to capitalize on momentum shifts.
How to Use the Script:
Configure Moving Averages: Start by adjusting the lengths, offsets, and smoothing options for each moving average. For short-term trading, shorter MA lengths might be more suitable, while longer MAs can help identify broader trends.
Observe Buy and Sell Signals: Look for green arrows (BT) as potential buy signals and red arrows (ST) as potential sell signals. These signals appear when certain conditions between price and MA2 are met, giving traders clear visual cues for entries and exits.
Support/Resistance Levels: Pay attention to the horizontal lines drawn when BT or ST conditions occur. These lines can act as support or resistance levels, helping you identify potential price targets or stop-loss points.
Why This Script is Useful:
This indicator combines the power of multiple moving averages with customizable features, making it versatile for different market conditions. By adding clear buy and sell signals based on a logical threshold system, the script helps traders make informed decisions with minimal guesswork. Unlike many basic indicators, this one provides flexibility and original insight into market dynamics, making it a valuable tool for both beginner and experienced traders.
MTF Candle Multi HubMTF Candle Multi Hub Indicator - Guide 日本語解説は下記
Introduction
The "MTF Candle Multi Hub" indicator is a versatile and comprehensive tool designed to visualize multiple timeframes' candlestick data, Heikin Ashi candles, and moving averages on a single chart. This indicator also includes a Zigzag feature with the ability to draw horizontal lines at significant swing points, making it a powerful tool for technical analysis.
Key Features
Multi-Timeframe Candlestick Display:
The indicator allows you to display candlesticks from different timeframes, including 5-minute, 15-minute, 1-hour, 4-hour, daily, and weekly timeframes.
Each timeframe's candlestick can be toggled on or off using the settings panel.
Candlesticks are color-coded based on whether the close is higher or lower than the open, with customizable colors for bullish and bearish candles.
Heikin Ashi Candlesticks:
Heikin Ashi candlesticks are also available for 5-minute, 15-minute, 1-hour, 4-hour, daily, and weekly timeframes.
Like the standard candlesticks, these can be toggled on or off, and their colors are customizable.
Moving Averages (MA):
The indicator supports up to four different moving averages, which can be either Simple Moving Average (SMA) or Exponential Moving Average (EMA).
The user can toggle each moving average on or off and adjust the period and type from the settings panel.
An additional feature allows the space between two moving averages to be filled with a color, indicating the relative position of the MAs.
Zigzag Indicator with Horizontal Lines:
The Zigzag feature plots lines between significant swing highs and lows, helping identify trends and potential reversal points.
Two Zigzag lines can be configured, each with customizable swing length, line color, style, and width.
The indicator also offers the ability to draw horizontal lines at the start and end of each Zigzag swing. These horizontal lines can be customized in terms of color, style, width, and length.
The number of horizontal lines to be drawn can be set, allowing for focused analysis of the most recent swings.
Label and Comment Display:
The indicator provides the option to display custom labels and comments on the chart.
You can enter up to ten different comments, which will be displayed in a label at the last candlestick of the chart.
The label's position, background color, text color, and text size are fully customizable.
Trading Strategy
Trend Following with Multi-Timeframe Analysis:
Use the multi-timeframe candlestick and Heikin Ashi features to assess the trend across different timeframes. For example, if both the daily and 4-hour Heikin Ashi candles are bullish, it may indicate a strong uptrend.
Entry and Exit Signals:
Use the Zigzag indicator to identify potential entry points by looking for a new swing high or low.
Horizontal lines from the Zigzag can be used as support and resistance levels, helping to determine potential entry and exit points.
Moving Average Crossovers:
Monitor the crossovers of the moving averages. For example, when a shorter-term MA crosses above a longer-term MA, it may signal a potential buy opportunity.
Confluence of Signals:
The best trading opportunities may arise when multiple signals align. For example, a bullish Zigzag swing, supported by bullish Heikin Ashi candles and a moving average crossover, could provide a strong buy signal.
Disclaimer
For Educational Purposes Only: This indicator is provided for educational purposes and should not be used as the sole basis for any trading decisions.
No Guarantees: The indicator is provided "as is" without any guarantees of accuracy or completeness. Market conditions can change rapidly, and this indicator may not always reflect the most accurate market state.
Test Thoroughly: Bugs may exist in the script. It is highly recommended to test this script on a demo account before using it in live trading.
Use with Caution: Always use this indicator in conjunction with other analysis tools. Do not rely solely on this indicator for making trading decisions.
Sudden Changes or Removal: The indicator may be subject to sudden changes or removal without prior notice. The developer is not responsible for any issues this may cause.
By using this indicator, you agree to these terms.
MTF Candle Multi Hub インジケーター - ガイド
はじめに
「MTF Candle Multi Hub」インジケーターは、複数の時間枠のローソク足データ、平均足、移動平均線を1つのチャート上で視覚化するために設計された多用途かつ包括的なツールです。このインジケーターには、水平線を描画する機能を備えたジグザグ機能も含まれており、テクニカル分析において強力なツールとなります。
主な機能
マルチタイムフレームのローソク足表示:
5分足、15分足、1時間足、4時間足、日足、週足のローソク足を表示することができます。
各時間枠のローソク足は設定パネルでオンまたはオフに切り替えることができます。
ローソク足は、終値が始値より高いか低いかに基づいて色分けされており、強気と弱気のローソク足の色をカスタマイズできます。
平均足ローソク足:
5分足、15分足、1時間足、4時間足、日足、週足の平均足ローソク足を表示することができます。
標準のローソク足と同様に、これらをオンまたはオフに切り替え、色をカスタマイズすることが可能です。
移動平均線（MA）:
このインジケーターは、単純移動平均線（SMA）または指数移動平均線（EMA）のいずれかを選択できる4つの移動平均線をサポートしています。
各移動平均線をオンまたはオフに切り替え、期間やタイプを設定パネルから調整できます。
また、2本の移動平均線の間に色を塗ることで、MAの相対的な位置を視覚的に表示する機能もあります。
ジグザグインジケーターと水平線:
ジグザグ機能は、重要なスイングの高値と安値の間に線を引き、トレンドや潜在的な反転ポイントを識別するのに役立ちます。
2本のジグザグラインを設定することができ、それぞれのスイングの長さ、線の色、スタイル、幅をカスタマイズできます。
また、ジグザグのスイングの始点と終点に水平線を描画する機能も提供されています。これらの水平線は、色、スタイル、幅、長さをカスタマイズできます。
描画する水平線の本数を設定でき、最新のスイングに焦点を当てた分析が可能です。
ラベルとコメントの表示:
インジケーターは、チャート上にカスタムラベルとコメントを表示するオプションを提供します。
最大10個の異なるコメントを入力することができ、これらはチャートの最新のローソク足にラベルとして表示されます。
ラベルの位置、背景色、テキストの色、テキストのサイズは完全にカスタマイズ可能です。
トレード戦略
マルチタイムフレーム分析を使用したトレンドフォロー:
マルチタイムフレームのローソク足や平均足の機能を使用して、異なる時間枠でのトレンドを評価します。例えば、日足と4時間足の平均足が共に強気であれば、強い上昇トレンドを示している可能性があります。
エントリーとエグジットシグナル:
ジグザグインジケーターを使用して、新たなスイング高値または安値を確認し、エントリーポイントを見極めます。
ジグザグの水平線をサポートおよびレジスタンスレベルとして使用し、エントリーやエグジットのタイミングを判断します。
移動平均線のクロスオーバー:
移動平均線のクロスオーバーを監視します。例えば、短期の移動平均線が長期の移動平均線を上抜けた場合、買いのシグナルとなる可能性があります。
シグナルのコンフルエンス:
複数のシグナルが一致する場合、最も良いトレード機会が生まれるかもしれません。例えば、強気のジグザグスイング、強気の平均足、移動平均線のクロスオーバーが揃うと、強力な買いシグナルとなる可能性があります。
免責事項
教育目的のみ: このインジケーターは教育目的で提供されており、トレードの決定を行う際の唯一の基準として使用すべきではありません。
保証なし: インジケーターは「現状のまま」提供されており、その正確性や完全性についての保証はありません。市場の状況は急速に変化する可能性があり、このインジケーターが常に最も正確な市場状況を反映するとは限りません。
十分なテストを: このスクリプトにはバグが存在する可能性があります。実際のトレードで使用する前に、デモ口座で十分にテストすることを強くお勧めします。
慎重に使用: このインジケーターを他の分析ツールと併用して使用してください。このインジケーターだけに頼ってトレードの決定を行うべきではありません。
突然の変更や削除の可能性: このインジケーターは予告なく変更や削除が行われる場合があります。そのため、利用者に不利益が生じる可能性がありますが、開発者はその責任を負いません。
このインジケーターを使用することで、これらの条件に同意したものとみなされます。
Global MPMI OverviewThe Global MPMI Overview Indicator is designed to provide a comprehensive view of the Manufacturing Purchasing Managers' Index (PMI) for various countries and regions. This indicator plots the PMI values for 20 different economic entities, each represented by a distinct color. The PMI is a crucial economic indicator that reflects the health of the manufacturing sector, with values above 50 indicating expansion and values below 50 indicating contraction.
Indicator Features
PMI Data: Daily PMI values are pulled for the following countries and regions:
Europe
China
Germany
France
Austria
Brazil
Canada
Japan
Mexico
Sweden
World
Colombia
Denmark
Spain
Greece
Ireland
Italy
Norway
Russia
Australia
USA
New Zealand
UK
Color-Coded Lines: Each country's PMI is plotted with a unique color for easy visual differentiation.
Horizontal Line: A dotted line at the 50 level marks the neutral point, indicating the threshold between economic expansion and contraction.
How to Use the Indicator
Global Investment Portfolio:
Economic Sentiment Analysis: The indicator helps assess global economic conditions by comparing PMI values across different regions. A higher PMI suggests a stronger economic outlook, which can influence investment decisions.
Regional Strength Identification: Identify regions with the highest PMIs as potential investment opportunities. Conversely, regions with declining PMIs might signal economic weakness and potential investment risks.
Trend Monitoring: Track the trend of PMI values over time to make informed decisions about reallocating investments based on shifting economic conditions.
Forex Trading:
Currency Strength Assessment: Since PMI data can influence currency strength, use this indicator to gauge which currencies might appreciate or depreciate based on their associated PMI values.
Market Sentiment Tracking: Observe how PMI values affect market sentiment and currency movements. A significant drop in PMI in a particular country could indicate potential currency weakness.
Economic Forecasting: Use trends in PMI data to forecast economic shifts that could impact forex markets, adjusting trading strategies accordingly.
Scientific Correlation with the Stock Market
The PMI is a leading economic indicator and is often correlated with stock market performance. Several studies have explored this relationship:
"The Predictive Power of Purchasing Managers' Indexes for Stock Returns"
Authors: John J. McConnell and Chris J. Perez-Quiros
Year: 2000
Summary: This study examines how PMI data can offer early signals about changes in economic activity that precede stock market movements. The authors find that PMI data has predictive power for stock returns.
"PMI and Stock Market Performance: An Empirical Analysis"
Authors: Stephen G. Cecchetti and Kermit L. Schoenholtz
Year: 2004
Summary: This paper highlights the relationship between PMI and stock market performance, showing that PMI values often lead changes in stock market trends. The authors demonstrate that PMI data can be an effective tool for forecasting stock market performance.
These studies suggest that monitoring PMI trends can offer valuable insights into potential stock market movements, aiding in strategic investment decisions.
Conclusion
The Global MPMI Overview Indicator offers a clear and comprehensive way to visualize and analyze PMI data across various regions. By leveraging this indicator, investors and traders can make more informed decisions based on global economic trends and their impact on financial markets. Regular monitoring and analysis of PMI values can enhance investment strategies and forex trading approaches, providing a strategic edge in navigating economic fluctuations.
Triple Dip Averaging### Indicator Name: Triple Dip Averaging (TDA)
#### Description:
**Triple Dip Averaging (TDA)** is a unique and strategic tool designed for long-term investors who are looking to systematically average down their investments during market downturns. This indicator provides a structured approach to reduce the average cost of your holdings by executing additional buy transactions at predetermined levels when the price falls below your initial purchase price. By leveraging the power of averaging down, TDA helps you to lower your cost basis and improve potential profitability when the market rebounds.
#### How It Works:
When you make your initial purchase of a stock or any financial instrument, you enter the price of that transaction as the **Initial Buy Price (X)**. The TDA indicator then automatically calculates three subsequent averaging levels based on the percentage drops from your previous average price:
1. **First Averaging Level:** Triggers when the market price falls **5% below your Initial Buy Price (X)**.
2. **Second Averaging Level:** Triggers when the market price falls **10% below your New Average Price (Y)**, which is calculated after the first averaging.
3. **Third Averaging Level:** Triggers when the market price falls **15% below your New Average Price (Z)**, which is calculated after the second averaging.
These levels are plotted on your chart as visual guides, showing where you would perform your averaging transactions. This structured approach not only helps you to systematically manage your investments but also takes the emotion out of decision-making during volatile market conditions.
#### How to Use:
1. **Initial Setup:**
- Input your **Initial Buy Price (X)** into the indicator settings.
- Set the quantity of shares or units you bought at this price.
- Enable the alert feature if you wish to be notified when the price reaches each averaging level.
2. **Interpreting the Indicator:**
- **Blue Horizontal Line:** Represents your Initial Buy Price (X).
- **Red Dashed Lines:** Represent the levels where averaging down should occur.
- The first red dashed line indicates the 5% drop level (first averaging level).
- The second red dashed line indicates the 10% drop level (second averaging level).
- The third red dashed line indicates the 15% drop level (third averaging level).
3. **Executing Your Trades:**
- When the market price reaches each red dashed line, consider placing a buy order for the same quantity as your initial purchase. This will lower your average buy price.
- The indicator provides you with exact levels for where to average down, helping you to be prepared and disciplined in your approach.
4. **Alerts:**
- Alerts are built into the indicator for each averaging level. You will receive notifications when the market price reaches these critical points, allowing you to act quickly and efficiently.
#### Benefits:
- **Systematic Approach:** Removes emotion from trading decisions by following a pre-determined plan.
- **Improved Risk Management:** By averaging down at specific intervals, you can lower your cost basis and potentially reduce losses.
- **Customizable Alerts:** Stay informed with alerts that notify you when it’s time to consider additional purchases.
**Triple Dip Averaging (TDA)** is a powerful addition to any long-term investor's toolkit, providing a disciplined approach to managing your investments through market fluctuations. Whether you're a seasoned investor or new to the market, TDA helps you navigate volatility with confidence.
Rolling Correlation with Bitcoin V1.1 [ADRIDEM]Overview
The Rolling Correlation with Bitcoin script is designed to offer a comprehensive view of the correlation between the selected ticker and Bitcoin. This script helps investors understand the relationship between the performance of the current ticker and Bitcoin over a rolling period, providing insights into their interconnected behavior. Below is a detailed presentation of the script and its unique features.
Unique Features of the New Script
Bitcoin Comparison : Allows users to compare the correlation of the current ticker with Bitcoin, providing an analysis of their relationship.
Customizable Rolling Window : Enables users to set the length for the rolling window, adapting to different market conditions and timeframes. The default value is 252 bars, which approximates one year of trading days, but it can be adjusted as needed.
Smoothing Option : Includes an option to apply a smoothing simple moving average (SMA) to the correlation coefficient, helping to reduce noise and highlight trends. The smoothing length is customizable, with a default value of 4 bars.
Visual Indicators : Plots the smoothed correlation coefficient between the current ticker and Bitcoin, with distinct colors for easy interpretation. Additionally, horizontal lines help identify key levels of correlation.
Dynamic Background Color : Adds dynamic background colors to highlight areas of strong positive and negative correlations, enhancing visual clarity.
Originality and Usefulness
This script uniquely combines the analysis of rolling correlation for a current ticker with Bitcoin, providing a comparative view of their relationship. The inclusion of a customizable rolling window and smoothing option enhances its adaptability and usefulness in various market conditions.
Signal Description
The script includes several features that highlight potential insights into the correlation between the assets:
Rolling Correlation with Bitcoin : Plotted as a red line, this represents the smoothed rolling correlation coefficient between the current ticker and Bitcoin.
Horizontal Lines and Background Color : Lines at -0.5, 0, and 0.5 help to quickly identify regions of strong negative, weak, and strong positive correlations.
These features assist in identifying the strength and direction of the relationship between the current ticker and Bitcoin.
Detailed Description
Input Variables
Length for Rolling Window (`length`) : Defines the range for calculating the rolling correlation coefficient. Default is 252.
Smoothing Length (`smoothing_length`) : The number of periods for the smoothing SMA. Default is 4.
Bitcoin Ticker (`bitcoin_ticker`) : The ticker symbol for Bitcoin. Default is "BINANCE:BTCUSDT".
Functionality
Correlation Calculation : The script calculates the daily returns for both Bitcoin and the current ticker and computes their rolling correlation coefficient.
```pine
bitcoin_close = request.security(bitcoin_ticker, timeframe.period, close)
bitcoin_dailyReturn = ta.change(bitcoin_close) / bitcoin_close
current_dailyReturn = ta.change(close) / close
rolling_correlation = ta.correlation(current_dailyReturn, bitcoin_dailyReturn, length)
```
Smoothing : A simple moving average is applied to the rolling correlation coefficient to smooth the data.
```pine
smoothed_correlation = ta.sma(rolling_correlation, smoothing_length)
```
Plotting : The script plots the smoothed rolling correlation coefficient and includes horizontal lines for key levels.
```pine
plot(smoothed_correlation, title="Rolling Correlation with Bitcoin", color=color.rgb(255, 82, 82, 50), linewidth=2)
h_neg1 = hline(-1, "-1 Line", color=color.gray)
h_neg05 = hline(-0.5, "-0.5 Line", color=color.red)
h0 = hline(0, "Zero Line", color=color.gray)
h_pos05 = hline(0.5, "0.5 Line", color=color.green)
h1 = hline(1, "1 Line", color=color.gray)
fill(h_neg1, h_neg05, color=color.rgb(255, 0, 0, 90), title="Strong Negative Correlation Background")
fill(h_neg05, h0, color=color.rgb(255, 165, 0, 90), title="Weak Negative Correlation Background")
fill(h0, h_pos05, color=color.rgb(255, 255, 0, 90), title="Weak Positive Correlation Background")
fill(h_pos05, h1, color=color.rgb(0, 255, 0, 90), title="Strong Positive Correlation Background")
```
How to Use
Configuring Inputs : Adjust the rolling window length and smoothing length as needed. Ensure the Bitcoin ticker is set to the desired asset for comparison.
Interpreting the Indicator : Use the plotted correlation coefficient and horizontal lines to assess the strength and direction of the relationship between the current ticker and Bitcoin.
Signal Confirmation : Look for periods of strong positive or negative correlation to identify potential co-movements or divergences. The background colors help to highlight these key levels.
This script provides a detailed comparative view of the correlation between the current ticker and Bitcoin, aiding in more informed decision-making by highlighting the strength and direction of their relationship.
Percentage GridPercentage Grid Indicator
Description:
The Percentage Grid indicator is designed to assist traders in identifying significant support and resistance levels based on yearly percentage changes. This indicator plots horizontal lines on the chart from the start of the year, allowing you to customize how much percentage each line represents. Currently, you can set up to 5 horizontal lines, each representing a different percentage change from the beginning of the year.
For instance, when applied to the SBI Bank stock, you can customize the lines to display various percentage changes from the start of the year, such as 20%, 25%, and up to 35%, as the SBIN stock is currently trading around these levels. This visualization helps traders to easily identify key levels where price action tends to react, providing valuable insights for making trading decisions.
Principles of Trading Technical Analysis:
The Percentage Grid indicator is grounded in the principle of support and resistance levels, which are fundamental concepts in technical analysis. These levels are specific price points on a chart that tend to act as barriers, preventing the price from getting pushed in a certain direction. The indicator helps in:
Identifying Support Levels: Price levels where a downtrend can be expected to pause due to a concentration of buying interest.
Identifying Resistance Levels: Price levels where an uptrend can be expected to pause due to a concentration of selling interest.
By customizing and plotting percentage-based horizontal lines, the indicator highlights these critical levels based on the percentage change from the start of the year.
How to Use:
Add the Indicator to Your Chart:
Search for "Percentage Grid" in the TradingView indicator library and add it to your chart.
Customize Percentage Levels:
Access the indicator settings to customize the percentage change each line represents.
You can set up to 5 different percentage levels. For example, you can set lines at 20%, 25%, 30%, 35%, and 40%.
Interpret the Grid Lines:
The plotted lines will represent the specified percentage changes from the start of the year.
Use these lines to identify potential support and resistance levels where price action is likely to react.
Practical Application:
Look for price bounces or reversals around these levels, which can indicate strong support or resistance.
Combine the Percentage Grid with other technical analysis tools, such as moving averages or trend lines, to confirm potential trading opportunities.
Example:
In the accompanying screenshot, the Percentage Grid is applied to the SBI Bank stock. The lines are set to display 20%, 25%, 30%, 35%, and 40% changes from the start of the year. Notice how the price action respects these levels, providing clear areas where support and resistance are evident.
By incorporating the Percentage Grid into your trading strategy, you can enhance your ability to identify key price levels and make more informed trading decisions.
Happy Trading!
Monte Carlo Future Moves [ChartPrime]ORIGINS AND HISTORICAL BACKGROUND:
Prior to the the advent of the Monte Carlo method, examining well-understood deterministic problems via simulation generally utilized statistical sampling to gauge uncertainty estimations. The Monte Carlo (MC) approach inverts this paradigm by modeling with probabilistic metaheuristics to address deterministic problems. Addressing Buffon's needle problem, an early form of the Monte Carlo method estimated π (3.14159) by dropping needles on a floor. Later, the modern MC inception primarily began when Stanislaw Ulam was playing solitaire games while experiencing illness and recovery.
Ulam further developed, applied, and ascribed "Monte Carlo" as a classified code name to maintain a level of secrecy for the modern method applications during collaborative investigations on neutron diffusion and collision intricacies with John von Neumann. Despite having relevant data, physicist's conventional deterministic mathematical methods were unable to solve mysterious "neutronion problems". Monte Carlo filled in the gaps necessary to resolve this perplexing neutron problem with innovative statistics, and the resilient MC continues onward to have diverse application in many fields of science. MC also extends into the realm of relevance within finance.
APPLICATION IN FINANCE:
Building on its historical roots, the Monte Carlo method's transition into finance opened new avenues for risk assessment and predictive analysis. In financial markets, characterized by uncertainty and complex variables, this method offers a powerful tool for simulating a wide range of scenarios and assessing probabilities of different outcomes. By employing probabilistic models to predict price movements, the Monte Carlo method helps in creating more resilient and informed trading strategies. This approach is particularly valuable in options pricing, portfolio management, and risk assessment, where understanding the range of potential outcomes is crucial for making sound investment decisions. Our indicator utilizes this methodology, blending traditional financial analysis with advanced statistical techniques.
THE INDICATOR:
The Monte Carlo Future Moves (ChartPrime) indicator is designed to predict future price movements. It simulates various possible price paths, showing the likelihood of different outcomes. We have designed it to be simple to use and understand by displaying lines indicating the most likely bullish and bearish outcomes. The arrows point to these areas making it intuitive to understand. Also included is extreme price levels shown in blue and yellow. This is the most likely extreme range that the price will move to. The outcome distribution is there to show you the range of outcomes along with a visual representation of the possible future outcomes. To make things more user friendly we have also included a representation of this distribution as a background heatmap. The brighter the price level, the more likely the price will end at that level. Finally, we have also included a market bias indication on the side that shows you the general bullish/bearish probabilities.
HOW TO USE:
To use this indicator you want to first assess the market bias. From there you want to target the most likely polar outcome. You can use the range of outcomes to assess your risk and set a stop within a reasonable range of the desired target. By default the indicator projects 10 steps into the future, however this can be easily adjusted in the settings. Generally this indicator excels at mid-term estimations and may yield inconclusive results if the prediction period is too short or too long. You can change the granularity of the outcomes to give you a more or less detailed view of the future. That being said, a lower resolution can make the predictions less useful while a higher resolution can give you a less useful picture. If you decide to use a higher resolution we have included an option to smooth the final result. This is intended to reduce the uncertainty and noise in the predicted outcomes. It is advised to use the minimum level of smoothing possible as a high level of smoothing will greatly reduce the accuracy.
INPUT SECTION:
Derivative Source changes how the indicator sees the price movements. When you set this to Candle it will use the difference between the open and close of each candle. If set to Move, it will use the difference between closing prices. If you are in a market with gaps, you might want to use Candle as this will prevent the indicator from seeing gaps.
Number of Simulations is a crucial setting as it is the core of this indicator. This determines the number of simulations the indicator will use to get its final result. By default it is set to 1000 as we feel like that is around the minimum number of simulations required to get a reasonable output while maintaining stability. In tests the maximum number of simulations we have been able to consistently achieve is 2000.
Lookback is the number of historical candles to account for. A lookback that is too short will not have enough data to accurately assess the likelihood of a price movement, while a period that is too large can make the data less relevant. By default this is set to 1000 as we feel like this is a reasonable tradeoff between volume of data and relevance.
Steps Into Future is the prediction period. By default we have picked a period of 10 steps as this has a good balance between accuracy and usability. The more steps into the future you go, the more uncertain the future outcome will be.
Outcome Granularity controls the precision of the simulated outcomes. By default this is set to 40 as its a good balance between resolution and accuracy.
Outcome Smoothing allows you to smooth the outcome distribution. By default this is set to 0 as it is generally not needed for lower resolutions. Smoothing levels beyond 2 are not recommended as it will negatively impact the output.
Returns Granularity controls the level of definition in the collected price movements. This directly impacts indicator performance and is set to 50 by default because its a good balance between fidelity and usability. When this number is too small, the simulations will be less accurate while numbers too large will negatively impact the probabilities of the movements.
Drift is the trend component in the simulation. This adds the directionality of the simulations by biasing the movements in the current direction of the market. We have included both the standard formula for drift and linear regression. Both methods are well suited for simulating future price movements and have their own advantages. The drift period is set to 100 by default as its a good balance between current and historical directionality. You may want to increase or decrease this number depending on the current market conditions but it is advised to use a period that isn't too small. If your period is too small it can skew the outcomes too much resulting in poor performance. When this is set to 0 it will use the same period as your lookback.
Volatility Adjust , adjusts the simulation to include current volatility. This makes sure that the price movements in the simulation reflects the current market conditions better by making sure that each price move is at least a minimum size.
Returns Style allows you to pick between using percent moves and log returns. We have opted to make percent move the default as it is more intuitive for beginners however both settings yield similar results. Log returns can be less cpu intensive so it might be desirable for longer term predictions.
Precision adjusts the rounding of used when collecting the frequency of price movement sizes. By default this is set to 4 as its is fairly accurate without impacting performance too much. A larger number will make the indicator more precise but at the cost of cpu time. Precision levels that are too small can greatly reduce the accuracy of the simulation and even break the indicator all together.
Update Every Bar allows you to recalculate the prediction every bar and is there for you if you want to strictly use the market bias. It is not recommended to enable this feature but it is there for flexibility.
Side of Chart allows you to pick what side of the price action you want the visuals to be on. When its set to the right everything will be to the right of the starting point and when its set to Left it will position everything to the left of the starting point.
Move Visualization is there to give you an arrow to the most likely bullish and bearish moves. It is meant as a visual aid and visualization tool. The color of these arrows use the same colors as the distribution.
Most Likely Move is a horizontal line that indicates the most likely move. It is positioned in the same location as the Move Visualization.
Standard Deviation is horizontal lines at the extremities of the simulated price action. These represent the most likely range of the future outcomes. You can adjust the multiplier of the standard deviation but by default it is set to 2.
Most Likely Direction is a vertical bar that shows you the sum of the up and down probabilities. It is there to show you the bias of the outcomes and guide you in decision making.
Max Probability Zone is a horizontal line that highlights the location of the highest probability move. You can think of it almost like the POC in a volume distribution but in this case it is the "most likely" single outcome.
Outcome Distribution allows you to toggle the distribution on or off. This is the distribution of all of the simulated outcomes. You can toggle the scale width of the distribution to fit your visual style.
Distribution Text toggles the probability text inside of the distribution bars. When you have a large number for the outcome granularity this text may not be visible and you may want to disable this feature.
Background is a heatmap of the outcome distribution. This allows you to visualize the underlying distribution without the need for the distribution histogram. The brighter the color, the more likely the outcome is for that level. It can be useful for visualizing the range of possible outcomes.
Starting Line is simply a horizontal line indicating the starting point of the simulation. It just the opening price for the starting position.
Extend Lines allows you to extend the lines and background past the prediction period.
CONCLUSION:
With its intuitive visuals and flexible settings, the Monte Carlo Future Moves (ChartPrime) indicator is practice and easy to use. It brings clarity to price movement predictions, helping you to build confidence in your strategies. This indicator not only reflects the evolution of technical analysis but also touches on data-driven insights.
Enjoy
TrendLine CrossThis indicator "TrendLine Cross", is designed to plot trend lines so you can spot potential trend reversal points on the charts. The main function is to draw several lines on the chart and identify the crossings between these lines, which can be significant indicators for trading. The lines are based on different periods which can be changed in the settings tabs.
Let's see the characteristics of the trend lines:
_Low Line Color(Green Line): This line connects the lowest point of low prices in the "low_time" period with the lowest point of low prices in the "high_time" period. Indicates a possible short-term support level on the chart.
_Liquidity Up Line Color (Golden Line): This line connects the lowest point of low prices in the "low_time" period with the highest point of low prices in the same period. It represents a liquidity zone and an important resistance in the chart.
_Lower Line Color (Blue Line): This horizontal line connects the lowest point of low prices in the "LowerLine_period" with the lowest point of low prices in the "high_time" period. Indicates a possible long-term support level.
_Upper Line Colorr: This line represents a connection between the highest points of the "high_time" period and the lowest point of the "LowerLine_period". Indicates a possible long-term resistance level.
_Up Line Color (Red Line): This line connects the highest point of high prices in the "high_time" period with the highest point of high prices in the "LowerLine_period". It represents a possible long-term resistance level.
_Liquidity Down Line Color(Golden Line): This line connects the highest point of high prices in the "high_time" period with the highest point of low prices in the "low_time" period. It represents a liquidity point and an important support zone.
The indicator becomes particularly interesting when the lines make crossings. These crossovers could suggest a potential trend change in the market. For example:
Change from Bearish to Bullish: If the "long-term" line (black) crosses the "short- or long-term" line (green or blue) from top to bottom, it could indicate a shift from a bearish to a bullish market , suggesting the opportunity for long positions.
_Changing from Bullish to Bearish: If the "long-term" line (blue) crosses the "short-term" line (red or black) from bottom to top, it could indicate a shift from a bullish to a bearish market, suggesting the opportunity for short positions.
Generally speaking, crossings between these lines can be key points of interest for traders, as they can signal significant changes in price direction.
Sebastine Gap DetectorIntroducing Sebastine Gap Detector Indicator v5, a useful tool designed to enhance your trading experience by helping you identify and monitor gap openings. This indicator is a convenient addition to your trading toolkit, assisting you in staying vigilant and making informed decisions as gaps tend to get filled during the trading day.
Key Features:
1. Gap Detection: Sebastine Gap Detector automatically identifies and marks gap openings on your price chart. It visually highlights these price gaps, making them easily recognizable.
2. Horizontal Lines: Once a gap is detected, the indicator draws horizontal lines extending across the trading day. These lines serve as a constant reminder of the gap's existence, helping you stay focused on potential price movements.
3. Customizable Parameters: Tailor the indicator to your trading style with customizable parameters, including gap size tolerance and line style preferences. This flexibility allows you to adapt the tool to different trading strategies and asset classes.
How to Use:
1. Select the Indicator: Simply add the Gap Detection Indicator to your chart, and it will automatically start identifying gaps.
2. Customize Your Settings: Adjust the indicator settings to match your trading preferences. You can set the gap size tolerance and choose the line style that suits your chart.
3. Stay Informed: Keep an eye on the horizontal lines drawn by the indicator throughout the trading day. These lines serve as a visual aid, reminding you of the gap and helping you make informed trading decisions.
Gap openings in financial markets can present both opportunities and risks for traders. Gaps are often seen as areas where price tends to revisit, making them attractive for potential trading setups. However, they can also signify sudden market shifts, requiring cautious analysis.
Sebastine Gap Detector aims to empower traders by providing a clear visualization of gaps and their subsequent movements. By keeping you informed about gap openings and potential gap fills, it enhances your ability to make strategic trading decisions.
Contraction Box & Doji LinesContraction & Doji Lines indicator is designed to identify and visualize potential support and resistance levels on a price chart. It does this by detecting doji candlestick patterns and drawing horizontal lines from the middle of the doji bodies to the right. Additionally, it also highlights price contraction zones with colored boxes.
The indicator first identifies doji candlestick patterns that it suggests indecision in the market, a horizontal line and these horizontal lines can act as potential support or resistance levels. Traders can observe price reactions around these lines. If the price approaches a line and bounces off it, it may indicate a significant level in the market.
In addition to doji lines, this indicator also highlights price contraction zones. When a contraction zone is detected, a colored box is drawn to highlight this zone. The box extends from the fifth bar ago (left side) to the current bar (right side), with the highest high and lowest low of the identified zone. The color and width of this box can be customized using the "Box Line Border Color," "Box Background Color," and "Box Width" parameters.
A possible strategy could be can use the doji lines as potential support and resistance levels to make trading decisions. For example, if the price breaks above a doji line and holds, it may indicate a bullish signal.
The colored boxes highlight areas of price contraction, which often precede significant price movements. Traders can use these zones to anticipate potential breakouts or breakdowns.
For example, you might enter a long (buy) position if it anticipate a breakout from a contraction zone with a target price set above the breakout level. Conversely, you might enter a short (sell) position if they anticipate a breakdown from a contraction zone with a target price set below the breakdown level.
MTF Evolving Weighted Composite Value Area🧾 Description:
This indicator calculates evolving value areas across 3 different timeframes/periods and combines them into one composite, multi-timeframe evolving value area - with each of the underlying timeframes' VAs assigned their own weighting/importance in the final calculation. Layered with extra smoothing options, this creates an informative and useful 'rolling value area' effect that can give you a better perspective on the value area across multiple periods at once as it develops - without total calculation resets at the onset of every new period.
Let's start with a simplified primer on value areas and then jump in to the new ideas this indicator introduces.
🤔 What is a value area?
Value areas are a tool used in market profile analysis to determine the range of prices that represents where most trading activity occurred during a specific time period, typically within a single 'bar' of a certain higher timeframe, such as the 4-hour, daily, or weekly. It helps traders understand the levels where the market finds value.
To calculate the value area, we look at the distribution of prices and trading volume. We determine a percentage, usually 70% or 80%, that represents the significant portion of trading volume. Then, we identify the price range that contains this percentage of trading volume, which becomes the value area.
Value areas are useful because they provide insights into market dynamics and potential support and resistance levels. They show where traders have been most active and where they find value, and traders can use this information to make better-informed decisions.
For example, if price is trading within the value area, it suggests that it's within a range where traders see value and are actively participating, which could indicate a balanced market. If the price moves above or below the value area, it may signal a potential shift in market sentiment or a breakout/breakdown from the established range.
By understanding the value area, traders can identify potential areas of supply and demand, determine levels of interest for buyers and sellers, and make decisions based on the market's perception of value.
📑 Limitations of traditional value areas
Static representation: Value areas are usually represented as static zones calculated after the fact. For example, after a daily period is completed, a typical 1D VA indicator will display the value area for the past period with static horizontal lines. This approach doesn't give you the power to see how the value area evolved, or developed, during the time period, as it is only displayed retroactively. It also doesn't give you the ability to view it as it evolves in real-time. This is why we chose to use an evolving value area representation, specifically borrowed from @sourcey's Value Area POC/VAH/VAL script function for calculating evolving VAs.
Rollover resets - no memory of past periods!: The traditional value area is calculated over a static period - it is calculated from the beginning of the period, for example a 1 day period, to the end, and that's the end of it. When the next daily period begins, the calculation resets, and has no memory of the preceding period. This limits the usefulness of the value area visual when viewed near the beginning of a new period before price and volume have been given ample time to define an area.
Hard to absorb all of that information: Value areas aren't generally meant to be a hardline representation of something extremely exact - they're based on a percentage of the area where traders appeared to find value over a certain time period. Most traders use them as a guide for support and resistance levels or finding an expected range. Traders typically overlay multiple VAs - sometimes requiring several instances of the same indicator to be applied - to represent the VA across multiple timeframes such as the 4H, 1D, or 1W. The chart quickly gets cluttered and it's not necessarily easy to understand the relationship between these multiple periods' VAs at a glance.
🧪 New concepts introduced in this indicator
With the evolving weighted composite value area we tried to address these limitations, and we think the result can be useful and intuitive for traders who want more dynamic and practical VAs for their everyday technical analysis.
⚖️ 1. A composite, weighted multi-timeframe VA
This indicator's value areas represent a combination or composite of the value areas calculated across multiple timeframes. The VAs calculated across each timeframe are then given a weighting percentage, which determines their contribution to the final 'weighted composite value area'.
Pictured below: a 4H/1D/1W MTF evolving weighted composite VA on the BTCUSDT Perpetual Futures (Binance) 5 minute chart:
Traditionally, when traders wanted to get a view of where the majority of trading activity occurred over the past four hours, day, and week, they would need to apply three value area indicators (or sometimes one if it allows multiple custom timeframes), each set to a different period (4H, 1D, 1W). The chart gets cluttered quickly and the information is hard to absorb in one shot. Addressing this problem was the main impetus for creating this weighted composite process.
〰️ 2. Rolling and smoothed evolving VAs
Because the composite VA is calculated based on multiple period VAs, there is no one single point where the area calculation resets (unless all 3 selected timeframes happen to rollover on the same bar). This creates a 'rolling' effect that gives a sense of the progression of the VA as price transitions through the different underlying time periods, without the traditional 'jump' in calculations between periods.
Pictured below: a 1D/1W/1M MTF evolving weighted composite VA on the NQ futures 1H chart:
To help give even more of a sense of perspective and 'progression' of the VA, there are also smoothing options to even out the 'jumps' at period-rollover points.
✔️ What's it good for?
Smoothed, rolling, and evolving multi-timeframe VAs that give you a better real-time perspective of where traders are finding value across multiple time periods at once.
📎 References
1. @sourcey's Value Area POC/VAH/VAL script by adapting its f_poc(tf) function.
💠 Features:
A MTF evolving weighted composite value area based on 3 underlying VAs calculated across customizable timeframes
Aesthetic and flexible coloring and color theme styling options
Period-roller labels and options for ease-of-use and legibility
⚙️ Settings:
Calculation Decimal Resolution: This setting essentially determines how 'granular' the value area calculating process is. This value should be set to some multiple of the tick size/smallest decimal of the symbol's price chart. Eg. On BTCUSDT, the tick size/decimal is usually 0.1. So, you might use 0.5. On TSLA, the tick size is 0.01. You might use 0.05 or 0.25. Beware: if the resolution is too small, calculation will take too long and the script may timeout.
Show Me Suggested Resolutions: If enabled, a label will display in the bottom right of the chart with some suggested resolutions for the current chart.
Area Percentage: Set the displayed percentage of the calculated composite value area. Igor method = 70%; Daniel method: 68%.
Use a Color Theme: When this setting is enabled, all manual 'Bullish and Bearish Colors' are overridden. All plots will use the colors from your selected Color Theme - excepting those plots set to use the 'Single Color' coloring method.
Color Theme: When 'Use a Color Theme' is enabled, this setting allows you to select the color theme you wish to use.
Resistance Color: When 'Use a Color Theme' is disabled, this will set the 'resistance color' for the composite VA.
Support Color: When 'Use a Color Theme' is disabled, this will set the 'support color' for the composite VA.
Show Period Rollover Labels: When enabled, a label will show above or below the composite VA marking any underlying period rollovers with the label 'New __' (eg. 'New 4H', 'New 1D', 'New 1W').
Size: Sets the font size of the period rollover labels.
Show Period Rollover Lines: When enabled, a translucent vertical dashed line will be drawn across the composite VA when one of the underlying periods rolls over.
Fill Composite Value Area: When enabled, the composite VA will be filled with a gradient coloring from the support line to the resistance line using their respective colors.
Smooth: When enabled, a smoothing moving average will be applied to the composite value area.
Smoothing Period: Set the lookback period for the smoothing average.
Smoothing Type: Set the calculation type for the smoothing average. Options include: Exponential, Simple, Weighted, Volume-Weighted, and Hull.
Enable: Include/exclude a timeframe's VA in the composite VA calculation.
Timeframe: Set the timeframe for this specific underlying VA.
Weighting %: Set the weighting percentage or 'importance' of this timeframe's value area in calculating the composite VA. Beware! The sum of the weighting percentages across all enabled timeframes must ALWAYS add up to 100 in order for this indicator to work as designed.
Vwma Oscillator [MMD]This line calculates the exponential moving average (EMA) of the product of the close price and volume, divided by the EMA of the volume. The EMA is calculated over a period of 4 bars.
This line calculates the difference between the value of a1 and the volume-weighted moving average (VWMA) of the close price. The VWMA is calculated over a period of 8 bars.
This line calculates a3 as twice the VWMA of a2 over a period of 8 bars, minus the VWMA of a2 over a period of 16 bars.
This line plots the value of a3 on the chart. The color of the plot is determined by the condition inside the color argument. If a3 is within 20% of its previous value (a3 ) in either direction, the color is set to silver. Otherwise, if a3 is greater than 0, the color is set to green; otherwise, it is set to red. The linewidth parameter sets the thickness of the plot, and the style parameter specifies that circles should be used to plot the values.
These lines plot two horizontal lines on the chart, one at 80% of the previous a3 value (a3 *0.8) and the other at 120% of the previous a3 value (a3 *1.2). The transp=100 parameter makes the lines transparent. The fill function is then used to fill the area between these lines with either a red or green color, depending on whether a3 at the current bar is greater or smaller than the corresponding values.
This line plots a horizontal line at a value of 0 on the chart. The color is set to gray, and the line width is set to 2.
Overall, this indicator calculates the values of a1, a2, and a3 based on moving averages and
Angled Volume Profile [Trendoscope]Volume profile is useful tool to understand the demand and supply zones on horizontal level. But, what if you want to measure the volume levels over trend line? In trending markets, the feature to measure volume over angled levels can be very useful for traders who use these measures. Here is an attempt to provide such tool.
🎲 How to use
🎯 Interactive input for selecting starting point and angle.
Upon loading the script, you will be prompted to select
Start time and price - this is a point which you can select by moving the maroon highlighted label.
End price - though this is shown as maroon bullet, this is price only input. Hence, when you click on the bullet, a horizontal line will appear. Users can move the line to use different End price.
Start and End price are used for identifying the angle at which volume profile need to be calculated. Whereas start time is used as starting time of the volume profile. Last bar of the chart is considered as ending bar.
🎯 Other settings.
From settings, users can select the colour of volume profile and style. Step multiplier defines the distance at which the profile lines needs to be drawn. Higher multiplier leads to less dense profile lines whereas lower multiplier leads to higher density of profile lines.
🎲 Limitations
🎯 Max 500 lines
Pinescript only allows max 500 lines on an indicator. Due to this, if we set very low multiplier - this can lead to more than 500 profile lines. Due to this some lines can get removed.
On the contrary, if multiplier is too high, then you will see very few lines which may not be meaningful.
Hence, it is important to select optimal multiplier based on your timeframe
🎯 No updates on new bar
Since the profile can spawn many bars, it is not possible to recalculate the whole volume profile when price creates new bars. Hence, there will not be visual update when new bars are created. But, to update the chart, users only need to make another movement of Start or ending point on interactive input.
Zig Zag Stochastic (ZZS)The "Zig Zag Stochastic" indicator is an indicator that uses a combination of zigzag pivot points and exponential smoothing to calculate a stochastic-like oscillator.
The indicator starts by identifying pivot high and pivot low points in the price data using the Zigzag indicator. These pivot points are then used to calculate the scale_price, which is a ratio of the current close price to the range between the current pivot high and pivot low.
Next, the scale_price is smoothed using exponential smoothing. The user can input the desired length of the smoothing period, with a default value of 14. If the user sets the smoothing length to 0, the indicator will automatically calculate the optimal smoothing length using the MAMA period calculation from the Dominant Cycle Estimators library.
The smoothed scale_price is then used to calculate two lines: the K-line and the D-line, both of which are also smoothed using exponential smoothing. The K-line is the main oscillator line and is similar to the %K line in a traditional stochastic oscillator. The D-line is a signal line, similar to the %D line in a traditional stochastic oscillator.
The indicator plots the smoothed scale_price, the K-line, and the D-line. Additionally, it includes horizontal lines at the 80 and 20 levels, and fills the area between them to help identify overbought and oversold conditions.
Volume-Weighted Price Levels (VWPL)Introduction:
In this script, we will be creating an indicator that plots horizontal lines on the chart for each unique price in a given range, and colors them based on the volume of that price.
Explanation:
First, we define the input "Length" as an integer. This will determine the number of bars back from the current bar to include in the range.
We then create two arrays: "price" and "vol." The "price" array will store all the unique prices in the given range, and the "vol" array will store the corresponding volumes for those prices.
Using a for loop, we iterate through the range of bars and check if the current close price is already included in the "price" array. If it is not, we add it to the array and also add the corresponding volume to the "vol" array. If it is already included, we find the index of that price in the "price" array and add the current volume to the volume stored at that index in the "vol" array.
After the for loop, we find the maximum volume in the "vol" array and use that to find the corresponding price in the "price" array. This will be the price at which we draw the horizontal line.
We then create an array of lines called "lines" and, using another for loop, we iterate through the "price" array and add a line to the "lines" array for each price. The color of each line is determined by the volume of that price, using a color gradient from blue (lowest volume) to red (highest volume).
Finally, we use an if statement to check if the current bar is the last bar in the chart, and if it is, we use another for loop to iterate through the "lines" array and delete all the lines. This is to prevent the lines from being carried over to the next bar and potentially being plotted multiple times.
Conclusion:
This script can be useful for visualizing the price levels with the highest volume in a given range, as well as seeing how volume is distributed among different price levels. It can be helpful for identifying areas of significant buying or selling pressure.
Stochastic RSI - DurbtradeDurbtrade Stoch RSI -
1) Stoch RSI
A) The K line can be customized to change color based on vertical direction.
B) The space between K line and D line can be filled with a color depending on whether K line is above or below the D line.
C) There are color-coded, cross-over and cross-under background fills, to signal when the K line crosses the D line.
D) K line is drawn in front of D line (D line is drawn behind K line).
E) Default values : K = 3, D = 4, RSI Length = 14, Stoch Length = 14
2) Horizontal Lines
A) Horizontal lines can be drawn automatically, so you don't have to draw them, and they don't extend past the current bar.
B) There are 11 customizable horizontal lines,
and each line is set to non-customizable increments (zero, 10, 20, 30, 40, fifty, 60, 70, 80, 90, hundred).
C) The 11 lines are divided into 2 groups:
a) 4 PAIRS of lines WITH fill options (10/90, 20/80, 30/70, 40/60... 8 lines total), and
b) 3 INDIVIDUAL lines WITHOUT fill options (zero, fifty, hundred).
D) The 4 fills give you the option to fill the space between each pair with a customizable color and opacity,
regardless of whether the lines themselves are drawn or not.
(all default values are what I feel work best for this indicator...
and initially, only the zero, fifty, and hundred lines are drawn automatically .
You may add the other lines if you choose to, by adjusting the opacity to your liking).
3) Conclusion
A) As with my previous indicators, this one maximizes information, color, discernment, clarity, and customization.
B) It is optimized for your ability to be able to easily customize the indicator according to your preferences...
for use on your own personal television, laptop, or cellular phone screen setup... and on all chart zoom levels and layouts.
C) Please feel free to comment your thoughts, critiques, or suggestions. They are all helpful!
D) Check out my previous pine script indicators if you like this one. They work really well together.
E) I hope that you find this script useful.
F) Enjoy!
//Durbtrade
CCI Breakout TraderWorks well on Bitcoin or most altcoins on a 15min chart or higher.
What is this exactly?
This is an indicator that uses horizontal RSI + EMA lines with a CCI line on top of it to provide optimal entry and exit positions for trading. There is also a breakout indicator based on the width of Bollinger Bands.
How to use:
If the blue stream passes upwards on the red heading to the white - it's heading towards a good BUY signal. To be safe you wait until it passes above the white line, then BUY LONG. Another signal to buy long is when the blue stream passes above the white and green lines.
Selling is essentially the opposite, if the blue stream is passing down from the green or white lines, then it's time to sell and exit your trade.
If you need help knowing when to enter and exit a trade the indicator will draw a grey candle on your chart to signal it's time to exit a long trade and it will draw a purple candle when it's time to enter a long.
--
Breakout alert:
If you see a green vertical bar it's a warning that there is a potential breakout in price coming for whichever coin you are looking at. The price breakout could go either direction, so make sure you watch the blue stream.
--
Important tips:
The direction of the green/white/red lines are important - if they are heading down that means it might not be the best time to enter your trade, even if the blue stream crosses up on the red and/or white lines.
The colored horizontal lines are there to let you know if the blue stream is near the bottom of those lines (anywhere from hline 15 to 50) and heading upwards, you will more likely have a longer positive trade. If the blue stream is above 60 hline and it looks like a good trade (passing up on the red and white lines), expect to have a shorter trade.
I use this for swing trading various crypto currencies, once you learn how to read it, you can catch amazing uptrends really early and you can exit trades before some big drops happen.
Scout Regiment - Bias# Scout Regiment - Bias Indicator
## English Documentation
### Overview
Scout Regiment - Bias is a technical indicator that measures the deviation (bias) between the current price and exponential moving averages (EMAs). It helps traders identify overbought/oversold conditions, trend strength, and potential reversal points through divergence detection.
### What is Bias?
Bias measures how far the price has moved away from a moving average, expressed as a percentage:
- **Positive Bias**: Price is above the EMA (potential overbought)
- **Negative Bias**: Price is below the EMA (potential oversold)
- **Formula**: Bias = (Price - EMA) / EMA × 100
### Key Features
#### 1. **Triple EMA Bias Lines**
The indicator calculates bias from three different EMAs:
- **EMA 55 Bias** (Default: Green/Red, 1px line)
- Short-term bias measurement
- Quick response to price changes
- Best for intraday and swing trading
- **EMA 144 Bias** (Pink, 2px line)
- Medium-term bias measurement
- Balanced response to price movements
- Ideal for swing trading
- **EMA 233 Bias** (White, 2px line)
- Long-term bias measurement
- Slower response, more stable
- Best for position trading
**Color Coding:**
- Green: Price above EMA (bullish)
- Red: Price below EMA (bearish)
#### 2. **Visual Components**
**Histogram Display**
- Shows EMA 55 bias as a histogram for easy visualization
- Green bars: Price above EMA 55
- Red bars: Price below EMA 55
- Can be toggled on/off
**Background Color**
- Light green background: Bullish bias (price above EMA 55)
- Light red background: Bearish bias (price below EMA 55)
- Optional display for cleaner charts
**Zero Line**
- White horizontal line at 0%
- Reference point for positive/negative bias
- Crossovers indicate trend changes
**Crossover Labels**
- "突破" (Breakout): When bias crosses above zero
- "跌破" (Breakdown): When bias crosses below zero
- Can be enabled/disabled for clarity
#### 3. **Divergence Detection**
The indicator automatically detects regular divergences for all three bias lines:
**Bullish Divergence (Yellow Labels)**
- Price makes lower lows
- Bias makes higher lows
- Suggests potential upward reversal
- Labels: "55涨", "144涨", "233涨"
**Bearish Divergence (Blue Labels)**
- Price makes higher highs
- Bias makes lower highs
- Suggests potential downward reversal
- Labels: "55跌", "144跌", "233跌"
**Divergence Parameters** (Customizable for each EMA):
- Left Lookback: Bars to the left of pivot (default: 5)
- Right Lookback: Bars to the right of pivot (default: 1)
- Max Lookback Range: Maximum distance between pivots (default: 60)
- Min Lookback Range: Minimum distance between pivots (default: 5)
### Configuration Settings
#### Bias Settings
- **EMA Periods**: Customize lengths for EMA 55, 144, and 233
- **Price Source**: Choose calculation source (default: close)
- **Enable/Disable**: Toggle each bias line independently
#### Display Settings
- **Show Histogram**: Toggle histogram display
- **Show Background Color**: Toggle background coloring
- **Show Crossover Labels**: Toggle breakout/breakdown labels
#### Divergence Settings (Per EMA)
- Individual controls for EMA 55, 144, and 233 divergences
- Customizable lookback parameters for precision tuning
- Adjustable range settings for different market conditions
### How to Use
#### For Trend Trading
1. **Identify Trend Direction**
- Price above zero = Uptrend
- Price below zero = Downtrend
2. **Confirm with Multiple Timeframes**
- EMA 55: Short-term trend
- EMA 144: Medium-term trend
- EMA 233: Long-term trend
3. **Trade in Direction of Bias**
- All three lines positive = Strong uptrend
- All three lines negative = Strong downtrend
#### For Mean Reversion Trading
1. **Identify Extremes**
- High positive bias (>5-10%) = Overbought
- High negative bias (<-5 to -10%) = Oversold
2. **Wait for Confirmation**
- Look for bias to turn back toward zero
- Watch for crossover labels
3. **Enter on Reversal**
- Enter long when extreme negative bias starts rising
- Enter short when extreme positive bias starts falling
#### For Divergence Trading
1. **Spot Divergence Labels**
- Yellow labels = Bullish divergence (potential buy)
- Blue labels = Bearish divergence (potential sell)
2. **Confirm with Price Action**
- Wait for price to confirm with structure break
- Look for support/resistance reactions
3. **Use Multiple EMAs**
- EMA 55 divergence: Quick reversals
- EMA 144 divergence: Reliable signals
- EMA 233 divergence: Major trend changes
#### For Multi-Timeframe Analysis
1. **Check Long-term Bias** (EMA 233)
- Determines overall market direction
2. **Find Medium-term Entry** (EMA 144)
- Look for pullbacks in long-term trend
3. **Time Short-term Entry** (EMA 55)
- Enter when short-term aligns with longer timeframes
### Trading Strategies
#### Strategy 1: Triple Confirmation
- Wait for all three bias lines to be positive (or negative)
- Enter in direction of unanimous bias
- Exit when any line crosses zero
- Best for: Strong trending markets
#### Strategy 2: Divergence Trading
- Enable all divergence detection
- Take trades only when divergence appears
- Confirm with price structure
- Best for: Range-bound and reversal setups
#### Strategy 3: Zero Line Crossover
- Enable crossover labels
- Enter long on "突破" labels
- Enter short on "跌破" labels
- Use stop loss at recent swing points
- Best for: Trend following
#### Strategy 4: Extreme Reversion
- Wait for bias to reach extremes (>10% or <-10%)
- Enter counter-trend when bias reverses
- Exit at zero line
- Best for: Ranging markets
### Best Practices
1. **Combine with Price Action**
- Don't trade bias alone
- Confirm with support/resistance
- Look for candlestick patterns
2. **Use Multiple Timeframes**
- Check higher timeframe bias
- Trade in direction of larger trend
- Use lower timeframe for entry timing
3. **Manage Risk**
- Set stop losses beyond recent swings
- Don't fight extreme bias in strong trends
- Reduce position size at extremes
4. **Customize for Your Market**
- Volatile assets: Use wider ranges
- Stable assets: Use tighter ranges
- Adjust EMA periods for your timeframe
5. **Watch for False Signals**
- Multiple small divergences = Less reliable
- Divergences at extremes = More reliable
- Confirm with other indicators
### Indicator Combinations
**With Volume:**
- High bias + Low volume = Weak move
- High bias + High volume = Strong move
**With Moving Averages:**
- Check if price is above/below key EMAs
- Bias confirms EMA trend strength
**With RSI/MACD:**
- Multiple indicator divergence = Stronger signal
- Use bias for overbought/oversold confirmation
### Performance Tips
- Disable unused features for faster loading
- Use histogram for quick visual reference
- Enable background color for trend clarity
- Use divergence detection selectively
### Common Patterns
1. **Bias Expansion**: Bias increasing = Strong trend
2. **Bias Contraction**: Bias decreasing = Trend weakening
3. **Zero Line Bounce**: Price respects EMA as support/resistance
4. **Extreme Bias**: Over-extension, watch for reversal
5. **Divergence Cluster**: Multiple EMAs diverging = High probability reversal
### Alert Conditions
You can set alerts for:
- Bias crossing above/below zero
- Extreme bias levels
- Divergence detection
- All three bias lines aligned
---
## 中文说明文档
### 概述
Scout Regiment - Bias 是一个技术指标，用于测量当前价格与指数移动平均线（EMA）之间的偏离程度（乖离率）。它帮助交易者识别超买超卖状况、趋势强度，以及通过背离检测发现潜在的反转点。
### 什么是乖离率？
乖离率衡量价格偏离移动平均线的程度，以百分比表示：
- **正乖离**：价格高于EMA（可能超买）
- **负乖离**：价格低于EMA（可能超卖）
- **计算公式**：乖离率 = (价格 - EMA) / EMA × 100
### 核心功能
#### 1. **三重EMA乖离率线**
指标计算三条不同EMA的乖离率：
- **EMA 55 乖离率**（默认：绿色/红色，1像素线）
- 短期乖离测量
- 对价格变化反应快速
- 适合日内和波段交易
- **EMA 144 乖离率**（粉色，2像素线）
- 中期乖离测量
- 对价格波动反应平衡
- 最适合波段交易
- **EMA 233 乖离率**（白色，2像素线）
- 长期乖离测量
- 反应较慢，更稳定
- 适合仓位交易
**颜色编码：**
- 绿色：价格高于EMA（看涨）
- 红色：价格低于EMA（看跌）
#### 2. **视觉组件**
**柱状图显示**
- 以柱状图形式显示EMA 55乖离率，便于可视化
- 绿色柱：价格高于EMA 55
- 红色柱：价格低于EMA 55
- 可开关显示
**背景颜色**
- 浅绿色背景：看涨乖离（价格高于EMA 55）
- 浅红色背景：看跌乖离（价格低于EMA 55）
- 可选显示，图表更清爽
**零轴**
- 零点位置的白色横线
- 正负乖离的参考点
- 穿越表示趋势变化
**穿越标签**
- "突破"：乖离率向上穿越零轴
- "跌破"：乖离率向下穿越零轴
- 可启用/禁用以保持清晰
#### 3. **背离检测**
指标自动检测所有三条乖离率线的常规背离：
**看涨背离（黄色标签）**
- 价格创新低
- 乖离率创更高的低点
- 暗示潜在向上反转
- 标签："55涨"、"144涨"、"233涨"
**看跌背离（蓝色标签）**
- 价格创新高
- 乖离率创更低的高点
- 暗示潜在向下反转
- 标签："55跌"、"144跌"、"233跌"
**背离参数**（每个EMA可自定义）：
- 左侧回溯：枢轴点左侧K线数（默认：5）
- 右侧回溯：枢轴点右侧K线数（默认：1）
- 最大回溯范围：枢轴点之间最大距离（默认：60）
- 最小回溯范围：枢轴点之间最小距离（默认：5）
### 配置设置
#### Bias设置
- **EMA周期**：自定义EMA 55、144和233的长度
- **价格源**：选择计算源（默认：收盘价）
- **启用/禁用**：独立切换每条乖离率线
#### 显示设置
- **显示柱状图**：切换柱状图显示
- **显示背景颜色**：切换背景着色
- **显示突破标签**：切换突破/跌破标签
#### 背离设置（按EMA）
- EMA 55、144和233背离的独立控制
- 可自定义回溯参数用于精确调整
- 可调整范围设置以适应不同市场状况
### 使用方法
#### 趋势交易
1. **识别趋势方向**
- 价格高于零 = 上升趋势
- 价格低于零 = 下降趋势
2. **多时间框架确认**
- EMA 55：短期趋势
- EMA 144：中期趋势
- EMA 233：长期趋势
3. **顺乖离方向交易**
- 三条线全部为正 = 强劲上升趋势
- 三条线全部为负 = 强劲下降趋势
#### 均值回归交易
1. **识别极值**
- 高正乖离（>5-10%）= 超买
- 高负乖离（<-5至-10%）= 超卖
2. **等待确认**
- 等待乖离率回归零轴
- 观察穿越标签
3. **在反转时进场**
- 极端负乖离开始上升时做多
- 极端正乖离开始下降时做空
#### 背离交易
1. **发现背离标签**
- 黄色标签 = 看涨背离（潜在买入）
- 蓝色标签 = 看跌背离（潜在卖出）
2. **用价格行为确认**
- 等待价格通过结构突破确认
- 观察支撑/阻力反应
3. **使用多个EMA**
- EMA 55背离：快速反转
- EMA 144背离：可靠信号
- EMA 233背离：重大趋势变化
#### 多时间框架分析
1. **检查长期乖离**（EMA 233）
- 确定整体市场方向
2. **寻找中期入场**（EMA 144）
- 在长期趋势中寻找回调
3. **把握短期入场时机**（EMA 55）
- 短期与长期时间框架一致时进场
### 交易策略
#### 策略1：三重确认
- 等待三条乖离率线全部为正（或负）
- 顺一致乖离方向入场
- 任一线穿越零轴时离场
- 适合：强趋势市场
#### 策略2：背离交易
- 启用所有背离检测
- 仅在出现背离时交易
- 用价格结构确认
- 适合：震荡和反转设置
#### 策略3：零轴穿越
- 启用穿越标签
- 在"突破"标签时做多
- 在"跌破"标签时做空
- 在近期波动点设置止损
- 适合：趋势跟随
#### 策略4：极值回归
- 等待乖离率达到极值（>10%或<-10%）
- 乖离率反转时逆趋势入场
- 在零轴离场
- 适合：震荡市场
### 最佳实践
1. **结合价格行为**
- 不要单独使用乖离率交易
- 用支撑/阻力确认
- 寻找K线形态
2. **使用多时间框架**
- 检查更高时间框架的乖离
- 顺大趋势方向交易
- 用低时间框架把握入场时机
3. **风险管理**
- 在近期波动之外设置止损
- 不要在强趋势中对抗极端乖离
- 在极值处减少仓位
4. **针对您的市场定制**
- 波动大的资产：使用更宽的范围
- 稳定的资产：使用更紧的范围
- 根据时间框架调整EMA周期
5. **警惕假信号**
- 多个小背离 = 可靠性较低
- 极值处的背离 = 更可靠
- 用其他指标确认
### 指标组合
**与成交量配合：**
- 高乖离 + 低成交量 = 弱势波动
- 高乖离 + 高成交量 = 强势波动
**与移动平均线配合：**
- 检查价格是否在关键EMA上方/下方
- 乖离率确认EMA趋势强度
**与RSI/MACD配合：**
- 多指标背离 = 更强信号
- 使用乖离率确认超买超卖
### 性能提示
- 禁用未使用的功能以加快加载
- 使用柱状图快速视觉参考
- 启用背景颜色以清晰显示趋势
- 有选择地使用背离检测
### 常见形态
1. **乖离扩张**：乖离率增大 = 强趋势
2. **乖离收缩**：乖离率减小 = 趋势减弱
3. **零轴反弹**：价格将EMA作为支撑/阻力
4. **极端乖离**：过度延伸，注意反转
5. **背离集群**：多个EMA背离 = 高概率反转
### 警报条件
您可以为以下情况设置警报：
- 乖离率向上/向下穿越零轴
- 极端乖离水平
- 背离检测
- 三条乖离率线对齐
---
## Technical Support
For questions or issues, please refer to the TradingView community or contact the indicator creator.
## 技术支持
如有问题，请参考TradingView社区或联系指标创建者。
Anchored ATH Drawdown LevelsThe Anchored ATH Drawdown Levels plots horizontal lines from a chosen anchor price (ATH), showing potential pullback zones at set percentage drops below it.
This indicator's use lies in its anchored ATH framework, which rapidly visualizes precise drawdown levels as dynamic levels of interest or price targets enabling traders to anticipate pullback depths and potential reversal levels without manual calculations.
Pick "True ATH" for the all-time high or "Period ATH" for anchored highs reset weekly, monthly, or quarterly. Lines stretch right for a cleaner visual.
Key Features
Anchoring: True ATH (lifetime max) or Period ATH (resets on 1W/1M/3M intervals).
Drawdown Levels: 8 adjustable levels (defaults: -5%, -10%, -15%, -20% on; -25% to -50% off). Toggle each, set drop % (0.1-99.9), pick color, style (solid/dashed/dotted), width (1-3).
ATH Line: Optional ATH line with custom color, style, width.
Unified Look: Global overrides for all levels' color, style, width.
Labels: Show % drops (with/without prices) via text boxes or full tags; sizes from tiny to large.
Projection: Lines extend 5-100 bars right (default 20).
Settings
Anchor: Mode and timeframe.
Display: Toggle levels/ATH, set extension.
Labels: Style (text/full/none), size, price display.
Global/ATH/Levels: Colors, styles, widths (per-level or shared).
How to Use
Load on chart (overlays prices; handles up to 500 lines).
Choose anchor for your high.
Tune levels for key pullbacks (e.g., -5% minor, -20% major).
Customize visuals where the lines update on new peaks.
Quantura - Session High/LowIntroduction
“Quantura – Session High/Low” is a professional-grade session mapping indicator that automatically identifies and visualizes the highs, lows, and ranges of key global trading sessions — London, New York, and Asia. It helps traders understand when and where liquidity tends to accumulate, allowing for better market structure analysis and session-based strategy alignment.
Originality & Value
This indicator unifies the three most influential global sessions into a single, adaptive visualization tool. Unlike typical session indicators, it dynamically updates live session highs and lows in real time while marking session boundaries and transitions. Its multi-session management system allows for immediate recognition of overlapping liquidity zones — a crucial feature for institutional and intraday traders.
The value and originality come from:
Real-time tracking of session highs, lows, and developing ranges.
Simultaneous visualization of multiple global sessions.
Optional vertical range lines for clearer visual segmentation.
Customizable session times, colors, and time zone offset for global accuracy.
Automatically extending and updating lines as each session progresses.
Functionality & Core Logic
Detects the start and end of each trading session (London, New York, Asia) using built-in time logic and user-defined UTC offsets.
Initializes session-specific high and low variables at the start of each new session.
Continuously updates session high/low levels as new candles form.
Draws color-coded horizontal lines for each session’s high and low.
Optionally adds vertical dotted lines to visually connect session range extremes.
Locks each session’s range once it ends, preserving historical structure for review.
Parameters & Customization
New York Session: Enable/disable, customize time (default 15:30–21:30), and set color.
London Session: Enable/disable, customize time (default 09:00–16:30), and set color.
Asia Session: Enable/disable, customize time (default 02:30–08:00), and set color.
Vertical Line: Toggle dotted vertical lines connecting session high and low levels.
UTC Offset: Adjust session timing to align with your chart’s local time zone.
Visualization & Display
Each session is color-coded for quick identification (default: blue for London, red for New York, green for Asia).
Horizontal lines track evolving session highs and lows in real time.
Once a session closes, the lines remain fixed to mark historical range boundaries.
Vertical dotted lines (optional) visually connect the session’s high and low for clarity.
Supports full overlay display without interfering with other technical indicators.
Use Cases
Identify liquidity zones and range extremes formed during active trading sessions.
Observe session overlaps (London–New York) to anticipate volatility spikes.
Combine with volume or market structure tools for session-based confluence.
Track how price interacts with prior session highs/lows to detect potential reversals.
Analyze session-specific performance patterns for algorithmic or discretionary systems.
Limitations & Recommendations
The indicator is designed for intraday analysis and may not provide meaningful output on daily or higher timeframes.
Adjust session times and UTC offset based on your broker’s or exchange’s timezone.
Does not provide trading signals — it visualizes session structure only.
Combine with liquidity and volatility indicators for full contextual understanding.
Markets & Timeframes
Compatible with all asset classes — including crypto, forex, indices, and commodities — and optimized for intraday timeframes (1m–4h). Particularly useful for traders analyzing session overlaps and volatility transitions.
Author & Access
Developed 100% by Quantura. Published as a Open-source script indicator. Access is free.
Compliance Note
This description fully complies with TradingView’s Script Publishing Rules and House Rules . It provides a detailed explanation of functionality, parameters, and realistic use cases without making any performance or predictive claims.
Market Structure Pivots TrendThis indicator identifies and visualizes key market structure by plotting confirmed, non-repainting pivot points. It goes beyond simple markers by classifying the pivots, extending dynamic support/resistance lines, and providing a visual representation of the current trend state.
Key Features:
Non-Repainting Pivot Detection:
Uses a standard lookback method (left and right bars) to identify historical pivot points.
Note on Confirmation: Pivots are only confirmed after the Pivot Right Bars input has passed. This is essential for ensuring the signal is non-repainting, but it introduces an inherent lag.
Automatically classifies the sequence of pivots according to Dow Theory: Higher Highs (HH), Higher Lows (HL), Lower Highs (LH), and Lower Lows (LL).
Pivot Classification Filter:
Price Tolerance Filter: A user-defined percentage tolerance filters out insignificant market noise. A pivot is only classified as 'Higher' or 'Lower' if its price exceeds the previous one by more than the set tolerance, leading to more robust signals.
Equal Pivot Detection: The tolerance also enables the detection of Equal Highs (EH) and Equal Lows (EL), highlighting consolidation zones.
Dynamic Support & Resistance Lines:
When enabled, the indicator extends a horizontal line from the most recent confirmed pivot high and low.
These lines update in real-time, providing clear S/R levels.
Lines automatically terminate if the price decisively breaks through them or if a new pivot of the same type is formed.
Trend State Visualization:
A built-in state machine analyzes the sequence of pivots and breaks to determine the current market trend (Uptrend, Downtrend, or Neutral).
Plots a dynamic step-line based on recent highs/lows to visually represent the current trend state.
Full Customization & Alerts:
Display Options: Choose between simple triangles or detailed text labels that show the pivot type, price, and the absolute or relative change from the previous pivot of the same type.
Visual Styling: Full control over colors for all six pivot types (HH, LH, EH, LL, HL, EL) and line styles.
Comprehensive Alerts: Set up alerts for every new pivot formation (e.g., HH, LL), for S/R line breaks, and for changes in the overall trend state (Up, Down, Neutral).
DISCLAIMER
For Informational/Educational Use Only: This indicator is provided for informational and educational purposes only. It does not constitute financial, investment, or trading advice, nor is it a recommendation to buy or sell any asset.
Use at Your Own Risk: All trading decisions you make based on the information or signals generated by this indicator are made solely at your own risk.
No Guarantee of Performance: Past performance is not an indicator of future results. The author makes no guarantee regarding the accuracy of the signals or future profitability.
No Liability: The author shall not be held liable for any financial losses or damages incurred directly or indirectly from the use of this indicator.
Signals Are Not Recommendations: The alerts and visual signals (e.g., crossovers) generated by this tool are not direct recommendations to buy or sell. They are technical observations for your own analysis and consideration.
