Fund Master Plus (TV Rev1, Dec2024)License: Mozilla Public License 2.0 (Open Source)
Version: Pine Script™ v6
Indicator Name: Fund Master Plus (TV Rev1, Dec2024)
Short Title: Fund Master Plus
About Fund Master Plus
Fund Master Plus indicator is an oscillating technical analysis tool designed to simulate the fund inflow and outflow trend.
Key features:
1. Fund Master Value and Candle
The candle highlights the direction of the Fund Master value.
Green candles represent an upward trend, while red candles indicate a downward trend.
When the candle crossover 0, it is a sign of the start of mid term bull, vice versa.
When the candle is above 0, it is a sign of mid-term bull, vice versa.
2. Fund Master Bar
This bar provides added visual representation of the Fund Master value.
Green bars represent and upward trend, while red bars indicate a downward trend.
3. FM EMA (Exponential Moving Average)
The Fund Master EMA (Exponential Moving Average) helps smooth out FM value fluctuations
and identify the overall trend.
When the candle crossover FM EMA, it is a sign of the start of short term bull, vice vera.
When the candle is above FM EMA, it is a sign of short term bull, vice versa.
4. EMA of FM EMA
This is an EMA of the Fund Master EMA, which can provide additional insights into the
trend's strength.
5. Candle Turn Green or Red
This feature generates alerts to signal potential trend changes.
6. Bottom Deviation & Top Deviation
Line plot and label of these deviation will show on indicator and the price chart to help user
identify potential buying and selling opportunities.
7. Alertcondition for Turn Green or Turn Red
User can set the alert using the Create Alert (the Clock Icon).
8. Table Summary
A table summary is provided to show indicator name, FM value, FM candle status,
Crossover, Crossunder, Turn Green, Turn Red status, Bar Number etc.
A tooltip for Filter Setting and a filter status check.
SOP to use the indicator:
Table (GR1):
Show Table: This option enables or disables the display of the table.
Text Size: This option allows you to set the text size for the table entries.
Width: This option sets the width of the table.
Fund Master Candle Color Setting (GR2):
FM candle will up by default.
This option enables the color setting of Fund Master candle.
Up: This option sets the color of the Fund Master candle for uptrend.
Down: This option sets the color of the Fund Master candle for downtrend.
Fund Master Bar and Color Setting (GR3):
Show Fund Master Bar: This option enables or disables the display of the Fund Master bar.
Up: This option sets the color of the Fund Master bar for uptrend.
Down: This option sets the color of the Fund Master bar for downtrend.
Fund Master EMA plots (GR4):
Show FM EMA: This option enables or disables the display of the Fund Master EMA line.
Look Back Period: This option sets the lookback period for the Fund Master EMA calculation.
EMA Color: This option sets the color of the Fund Master EMA line.
Show EMA of FM EMA: This option enables or disables the display of the EMA of the Fund Master EMA line.
Look Back Period 2: This option sets the lookback period for the EMA of the Fund Master EMA calculation.
Alerts: Fund Master Crossover & Crossunder EMA Line or 0 (GR5):
Show FM Crossover 0: This option enables or disables the display of the alert for FM crossover above the 0 line.
Show FM Crossunder 0: This option enables or disables the display of the alert for FM crossover below the 0 line.
Show FM Crossover EMA: This option enables or disables the display of the alert for FM crossover above the EMA line.
Show FM Crossunder EMA: This option enables or disables the display of the alert for FM crossover below the EMA line.
Bottom and Top Deviation (GR6):
Show Bottom Deviation: This option enables or disables the display of the bottom deviation line.
Show Top Deviation: This option enables or disables the display of the top deviation line.
Turn Green, Turn Red Alert (GR7):
Show Turn Green/Red Alerts: This option enables or disables the display of alerts for when the Fund Master value changes direction.
Current & Turn Green/Red Alerts: This option sets the number of bars to look back for the turn green/red alerts.
Band and User Input Setting (GR8):
100: This option enables or disables the display of the 100 band.
0: This option enables or disables the display of the 0 band.
-100: This option enables or disables the display of the -100 band.
User Input: This option enables or disables the display of a custom band based on user input.
Value: This option sets the value for the custom band.
Disclaimer
Attached chart is for the purpose of illustrating the use of indicator, no recommendation of buy/sell.
In this chart, all features in the setting are turned on (default and non default).
This chart is used to demonstrate the FM trend movement from mid-term bear to mid-term bull,
short-term bear and bull, bottom deviation and top deviation.
Hope this help. Merry Christmas and Happy New Year.
"text"に関するスクリプトを検索
SnowglobeA fun Christmas publication where snowflakes fall to the bottom, as in a Snowglobe.
☃️ Shake Snowglobe
- Set the settings as desired.
Position the chart so the current real-time bar at the right is still visible; otherwise, the snowflakes will not move.
- Simple move the chart a bit, zoom, or adjust the settings if you want to start over.
'White Theme' users will experience black snow, while 'Dark Themers' will get white snow! 😄
🎄 Pine Script™
- If the 'Amount' is 500 or lower, only label.new() is used, if higher, box.new() with text comes also in play.
- The size of the text is set with numeric values, a new feature of Pine Script™ version 6!
☃️ Settings
Amount: Maximum amount of snowflakes
Moving Flakes: Maximum amount of moving snowflakes per tick move
Max Speed: Maximum speed of tumbling snowflakes
Drift: Maximum bar distance of snowflakes' drift
Happy Holidays! 🎅🏻🧑🏻🎄
Thygoo Countdown TimerThis custom Pine Script indicator displays a real-time countdown timer on your chart, showing the remaining time until the current candle closes based on the active timeframe. The timer is updated dynamically, providing a clear and easy-to-read countdown directly on the chart.
Features:
Real-Time Countdown: The indicator automatically calculates the time remaining for the current candle to close, updating in real-time.
Multiple Timeframes: It works with any active timeframe, including minute-based and multi-minute intervals, such as 3m, 5m, 15m, 1h, etc.
Dynamic Box Position: The countdown is displayed inside a resizable and repositionable box on the chart, placed above the current price action.
Visibility: The box and text are clearly visible, with customizable font sizes for better readability.
No Extra Clutter: The countdown text appears without any unnecessary border lines, keeping the display clean and unobtrusive.
How to Use:
Add this indicator to your chart to monitor the countdown of the current timeframe.
The timer will update automatically, showing the time left (minutes:seconds) until the next bar closes.
Adjust the chart's zoom level to ensure the timer box remains clearly visible in the right-hand section of your chart.
Ideal for:
Traders who want a quick and efficient way to track the time remaining on their current chart timeframe.
Anyone looking to add a countdown timer to their TradingView chart without the clutter of additional indicators.
Total Volume for Custom PeriodIndicator Description: Total Volume for Custom Period
This indicator calculates the total trading volume for a specified time period and displays the result in the top-right corner of the chart. It is designed for traders and analysts who want to see the cumulative volume over a defined range of time without needing to calculate it manually.
Features:
Customizable Time Period:
Define the start and end times of the calculation using the easy-to-use settings panel.
The indicator dynamically updates as you adjust the dates.
Accurate Volume Calculation:
Calculates the total trading volume for all candlesticks between the selected start and end dates.
Works on all assets and timeframes supported by TradingView (stocks, crypto, forex, etc.).
Fixed Display:
The result is displayed in the top-right corner of the chart inside a clear and simple table.
The value remains visible regardless of chart movement or zoom level.
Real-time Updates:
Automatically recalculates the volume when new data is added or the selected time period changes.
Customizable Design:
Black text with a transparent background ensures the display is clear and non-intrusive.
Large text size for easy readability.
Use Cases:
Volume Analysis: Quickly assess the total trading activity over a specific time period.
Historical Data Analysis: Compare volume data across different time intervals.
Custom Strategies: Use the total volume metric as part of a broader trading strategy or analysis.
How It Works:
Open the settings panel of the indicator and input the desired Start Date and End Date.
The indicator calculates the total trading volume for all candles within the selected range.
The result is displayed in the top-right corner of the chart.
This indicator is a simple yet powerful tool for traders who rely on volume analysis to make informed decisions. It enhances your ability to study market behavior during specific periods and provides insights into trading activity with ease.
Harmonic Pattern Detector (75 patterns)Harmonic Pattern Detector offers a record amount of "Harmonic Patterns" in one script, with 75 different patterns detected, together with up to 99 different swing lengths.
🔶 USAGE
Harmonic Patterns are detected from several different ZigZag lines, derived from Swings with different lengths (shorter - longer term)
Depending on the settings ' Minimum/Maximum Swing Length ', the user will see more or less patterns from shorter and/or longer-term swing points.
🔹 Fibonacci Ratio
Certain patterns have only one ratio for a specific retrace/extension instead of one upper and one lower limit. In this case, we add a ' Tolerance ', which adds a percentage tolerance below/above the ratio, creating two limits.
A higher number may show more patterns but may become less valid.
Hoovering over points B, C, and D will show a tooltip with the concerning limits; adjusted limits will be seen if applicable.
Tooltips in settings will also show which patterns the Fibonacci Ratio applies to.
🔹 Triangle Area Ratio
Using Heron's formula , the triangle area is calculated after the X-Y axis is normalized.
Users can filter patterns based on the ratio of the smallest triangle to the largest triangle.
A lower Triangle Area Ratio number leads to more symmetrical patterns but may appear less frequently.
🔶 DETAILS
Harmonic patterns are based on geometric patterns, where the retracement/extension of a swing point must be located between specific Fibonacci ratios of the previous swing/leg. Different Harmonic Patterns require unique ratios to become valid patterns.
In the above example there is a valid 'Max Butterfly' pattern where:
Point B is located between 0.618 - 0.886 retracement level of the X-A leg
Point C is located between 0.382 - 0.886 retracement level of the A-B leg
Point D is located between 1.272 - 2.618 extension level of the B-C leg
Point D is located between 1.272 - 1.618 extension level of the X-A leg
Harmonic Pattern Detector uses ZigZag lines, where swing highs and swing lows alternate. Each ZigZag line is checked for valid Harmonic Patterns . When multiple types of Harmonic Patterns are valid for the same sequence, the pattern will be named after the first one found.
Different swing lengths form different ZigZag lines.
By evaluating different ZigZag lines (up to 99!), shorter—and longer-term patterns can be drawn on the same chart.
🔹 Blocks
The patterns are organized into blocks that can be toggled on or off with a single click.
When a block is enabled, the user can still select which specific patterns within that block are enabled or disabled.
🔹 Visuals
Besides color settings, labels can show pattern names or arrows at point D of the pattern.
Note this will happen 1 bar after validation because one extra bar is needed for confirmation.
An option is included to show only arrows without the patterns.
🔹 Updated Patterns
When a Swing Low is followed by a lower low or a Swing High followed by a higher high , triggering a pattern identical to a previous one except with a different point D, the pattern will be updated. The previous C-D line will be visible as a dashed line to highlight the event. Only the last dashed line is shown when this happens more than once.
🔹 Optimization
The script only verifies the last leg in the initial phase, significantly reducing the time spent on pattern validation. If this leg doesn't align with a potential Harmonic Pattern , the pattern is immediately disregarded. In the subsequent phase, the remaining patterns are quickly scrutinized to ensure the next leg is valid. This efficient process continues, with only valid patterns progressing to the next phase until all sequences have been thoroughly examined.
This process can check up to 99 ZigZag lines for 75 different Harmonic Patterns , showcasing its high capacity and versatility.
🔹 Ratios
The following table shows the different ratios used for each Harmonic Pattern .
' min ' and ' max ' are used when only one limit is provided instead of 2. This limit is given a percentage tolerance above and below, customizable by the setting ' Tolerance - Fibonacci Ratio '.
For example a ratio of 0.618 with a tolerance of 1% would result in:
an upper limit of 0.624
a lower limit of 0.612
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
| NAME PATTERN | BCD (BD) | ABC (AC) | XAB (XB) | XAD (XD) |
| | min max | min max | min max | min max |
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
| 'ABCD' | 1.272 - 1.618 | 0.618 - 0.786 | | |
| '5-0' | 0.5 *min - 0.5 *max | 1.618 - 2.24 | 1.13 - 1.618 | |
| 'Max Gartley' | 1.128 - 2.236 | 0.382 - 0.886 | 0.382 - 0.618 | 0.618 - 0.786 |
| 'Gartley' | 1.272 - 1.618 | 0.382 - 0.886 | 0.618*min - 0.618*max | 0.786*min - 0.786*max |
| 'A Gartley' | 1.618*min - 1.618*max | 1.128 - 2.618 | 0.618 - 0.786 | 1.272*min - 1.272*max |
| 'NN Gartley' | 1.128 - 1.618 | 0.382 - 0.886 | 0.618*min - 0.618*max | 0.786*min - 0.786*max |
| 'NN A Gartley' | 1.618*min - 1.618*max | 1.128 - 2.618 | 0.618 - 0.786 | 1.272*min - 1.272*max |
| 'Bat' | 1.618 - 2.618 | 0.382 - 0.886 | 0.382 - 0.5 | 0.886*min - 0.886*max |
| 'Alt Bat' | 2.0 - 3.618 | 0.382 - 0.886 | 0.382*min - 0.382*max | 1.128*min - 1.128*max |
| 'A Bat' | 2.0 - 2.618 | 1.128 - 2.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'Max Bat' | 1.272 - 2.618 | 0.382 - 0.886 | 0.382 - 0.618 | 0.886*min - 0.886*max |
| 'NN Bat' | 1.618 - 2.618 | 0.382 - 0.886 | 0.382 - 0.5 | 0.886*min - 0.886*max |
| 'NN Alt Bat' | 2.0 - 4.236 | 0.382 - 0.886 | 0.382*min - 0.382*max | 1.128*min - 1.128*max |
| 'NN A Bat' | 2.0 - 2.618 | 1.128 - 2.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'NN A Alt Bat' | 2.618*min - 2.618*max | 1.128 - 2.618 | 0.236 - 0.5 | 0.886*min - 0.886*max |
| 'Butterfly' | 1.618 - 2.618 | 0.382 - 0.886 | 0.786*min - 0.786*max | 1.272 - 1.618 |
| 'Max Butterfly' | 1.272 - 2.618 | 0.382 - 0.886 | 0.618 - 0.886 | 1.272 - 1.618 |
| 'Butterfly 113' | 1.128 - 1.618 | 0.618 - 1.0 | 0.786 - 1.0 | 1.128*min - 1.128*max |
| 'A Butterfly' | 1.272*min - 1.272*max | 1.128 - 2.618 | 0.382 - 0.618 | 0.618 - 0.786 |
| 'Crab' | 2.24 - 3.618 | 0.382 - 0.886 | 0.382 - 0.618 | 1.618*min - 1.618*max |
| 'Deep Crab' | 2.618 - 3.618 | 0.382 - 0.886 | 0.886*min - 0.886*max | 1.618*min - 1.618*max |
| 'A Crab' | 1.618 - 2.618 | 1.128 - 2.618 | 0.276 - 0.446 | 0.618*min - 0.618*max |
| 'NN Crab' | 2.236 - 4.236 | 0.382 - 0.886 | 0.382 - 0.618 | 1.618*min - 1.618*max |
| 'NN Deep Crab' | 2.618 - 4.236 | 0.382 - 0.886 | 0.886*min - 0.886*max | 1.618*min - 1.618*max |
| 'NN A Crab' | 1.128 - 2.618 | 1.128 - 2.618 | 0.236 - 0.447 | 0.618*min - 0.618*max |
| 'NN A Deep Crab' | 1.128*min - 1.128*max | 1.128 - 2.618 | 0.236 - 0.382 | 0.618*min - 0.618*max |
| 'Cypher' | 1.272 - 2.00 | 1.13 - 1.414 | 0.382 - 0.618 | 0.786*min - 0.786*max |
| 'New Cypher' | 1.272 - 2.00 | 1.414 - 2.14 | 0.382 - 0.618 | 0.786*min - 0.786*max |
| 'Anti New Cypher' | 1.618 - 2.618 | 0.467 - 0.707 | 0.5 - 0.786 | 1.272*min - 1.272*max |
| 'Shark 1' | 1.618 - 2.236 | 1.128 - 1.618 | 0.382 - 0.618 | 0.886*min - 0.886*max |
| 'Shark 1 Alt' | 1.618 - 2.618 | 0.618 - 0.886 | 0.446 - 0.618 | 1.128*min - 1.128*max |
| 'Shark 2' | 1.618 - 2.236 | 1.128 - 1.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'Shark 2 Alt' | 1.618 - 2.618 | 0.618 - 0.886 | 0.446 - 0.618 | 0.886*min - 0.886*max |
| 'Leonardo' | 1.128 - 2.618 | 0.382 - 0.886 | 0.5*min - 0.5*max | 0.786*min - 0.786*max |
| 'NN A Leonardo' | 2.0*min - 2.0*max | 1.128 - 2.618 | 0.382 - 0.886 | 1.272*min - 1.272*max |
| 'Nen Star' | 1.272 - 2.0 | 1.414 - 2.14 | 0.382 - 0.618 | 1.272*min - 1.272*max |
| 'Anti Nen Star' | 1.618 - 2.618 | 0.467 - 0.707 | 0.5 - 0.786 | 0.786*min - 0.786*max |
| '3 Drives' | 1.272 - 1.618 | 0.618 - 0.786 | 1.272 - 1.618 | 1.618 - 2.618 |
| 'A 3 Drives' | 0.618 - 0.786 | 1.272 - 1.618 | 0.618 - 0.786 | 0.13 - 0.886 |
| '121' | 0.382 - 0.786 | 1.128 - 3.618 | 0.5 - 0.786 | 0.382 - 0.786 |
| 'A 121' | 1.272 - 2.0 | 0.5 - 0.786 | 1.272 - 2.0 | 1.272 - 2.618 |
| '121 BG' | 0.618 - 0.707 | 1.128 - 1.733 | 0.5 - 0.577 | 0.447 - 0.786 |
| 'Black Swan' | 1.128 - 2.0 | 0.236 - 0.5 | 1.382 - 2.618 | 1.128 - 2.618 |
| 'White Swan' | 0.5 - 0.886 | 2.0 - 4.237 | 0.382 - 0.786 | 0.238 - 0.886 |
| 'NN White Swan' | 0.5 - 0.886 | 2.0 - 4.236 | 0.382 - 0.724 | 0.382 - 0.886 |
| 'Sea Pony' | 1.618 - 2.618 | 0.382 - 0.5 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Navarro 200' | 0.886 - 3.618 | 0.886 - 1.128 | 0.382 - 0.786 | 0.886 - 1.128 |
| 'May-00' | 0.5 - 0.618 | 1.618 - 2.236 | 1.128 - 1.618 | 0.5 - 0.618 |
| 'SNORM' | 0.9 - 1.1 | 0.9 - 1.1 | 0.9 - 1.1 | 0.618 - 1.618 |
| 'COL Poruchik' | 1.0 *min - 1.0 *max | 0.382 - 2.618 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Henry – David' | 0.618 - 0.886 | 0.44 - 0.618 | 0.128 - 2.0 | 0.618 - 1.618 |
| 'DAVID VM 1' | 1.618 - 1.618 | 0.382*min - 0.382*max | 0.128 - 1.618 | 0.618 - 3.618 |
| 'DAVID VM 2' | 1.618 - 1.618 | 0.382*min - 0.382*max | 1.618 - 3.618 | 0.618 - 7.618 |
| 'Partizan' | 1.618*min - 1.618*max | 0.382*min - 0.382*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2' | 1.618 - 2.236 | 1.128 - 1.618 | 0.128 - 3.618 | 1.618 - 3.618 |
| 'Partizan 2.1' | 1.618*min - 1.618*max | 1.128*min - 1.128*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.2' | 2.236*min - 2.236*max | 1.128*min - 1.128*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.3' | 1.618*min - 1.618*max | 0.618 - 1.618 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.4' | 2.236*min - 2.236*max | 1.618*min - 1.618*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'TOTAL' | 1.272 - 3.618 | 0.382 - 2.618 | 0.276 - 0.786 | 0.618 - 1.618 |
| 'TOTAL NN' | 1.272 - 4.236 | 0.382 - 2.618 | 0.236 - 0.786 | 0.618 - 1.618 |
| 'TOTAL 1' | 1.272 - 2.618 | 0.382 - 0.886 | 0.382 - 0.786 | 0.786 - 0.886 |
| 'TOTAL 2' | 1.618 - 3.618 | 0.382 - 0.886 | 0.382 - 0.786 | 1.128 - 1.618 |
| 'TOTNN 2NN' | 1.618 - 4.236 | 0.382 - 0.886 | 0.382 - 0.786 | 1.128 - 1.618 |
| 'TOTAL 3' | 1.272 - 2.618 | 1.128 - 2.618 | 0.276 - 0.618 | 0.618 - 0.886 |
| 'TOTNN 3NN' | 1.272 - 2.618 | 1.128 - 2.618 | 0.236 - 0.618 | 0.618 - 0.886 |
| 'TOTAL 4' | 1.618 - 2.618 | 1.128 - 2.618 | 0.382 - 0.786 | 1.128 - 1.272 |
| 'BG 1' | 2.618*min - 2.618*max | 0.382*min - 0.382*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 2' | 2.237*min - 2.237*max | 0.447*min - 0.447*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 3' | 2.0 *min - 2.0 *max | 0.5 *min - 0.5 *max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 4' | 1.618*min - 1.618*max | 0.618*min - 0.618*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 5' | 1.414*min - 1.414*max | 0.707*min - 0.707*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 6' | 1.272*min - 1.272*max | 0.786*min - 0.786*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 7' | 1.171*min - 1.171*max | 0.854*min - 0.854*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 8' | 1.128*min - 1.128*max | 0.886*min - 0.886*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
🔶 SETTINGS
🔹 Swings
Minimum Swing Length: Minimum length used for the swing detection.
Maximum Swing Length: Maximum length used for the swing detection.
🔹 Patterns
Toggle Pattern Block
Toggle separate pattern in each Pattern Block
🔹 Tolerance
Fibonacci Ratio: Adds a percentage tolerance below/above the ratio when only one ratio applies, creating two limits.
Triangle Area Ratio: Filters patterns based on the ratio of the smallest triangle to the largest triangle.
🔹 Display
Labels: Display Pattern Names, Arrows or nothing
Patterns: Display or not
Last Line: Display previous C-D line when updated
🔹 Style
Colors: Pattern Lines/Names/Arrows - background color of patterns
Text Size: Text Size of Pattern Names/Arrows
🔹 Calculation
Calculated Bars: Allows the usage of fewer bars for performance/speed improvement
Divides company with IndexOverview:
This indicator simplifies the comparison of a stock's performance against a specified index, such as the Nifty 50. By calculating and plotting the ratio between the two, it provides a clear visual representation of relative strength.
Key Features:
-Direct Comparison: Easily compare any stock against a selected index.
-Customizable Index: Choose from a dropdown menu or input a custom index symbol.
-Visual Clarity: Maximizing the chart provides a clear view of the relative performance.
-SMA Overlay: Add a Simple Moving Average (SMA) to identify trends and potential entry/exit
points.
-Customizable Appearance: Adjust background color, text color, and label size for personalized
visualization.
How to Use:
Add the Indicator: Add the indicator to your chart.
Select the Index: Choose the desired index from the dropdown menu or input a custom symbol.
Analyze the Ratio:
-A rising ratio indicates the stock is outperforming the index.
-A falling ratio suggests underperformance.
-The SMA can help identify potential trends and momentum.
Customize the Appearance: Adjust the background color, text color, and label size to suit your preferences.
Benefits:
-Improved Decision Making: Gain insights into a stock's relative strength.
-Faster Analysis: Quickly compare multiple stocks against a benchmark index.
-Enhanced Visualization: Customize the chart for better understanding.
-By leveraging this indicator, you can make informed trading decisions and gain a deeper
understanding of market dynamics.
B-Xtrender By Neal inspired from @PuppytherapyThanks to @puppytherapy for creating the original B-Xtrender indicator, available at this link: B-Xtrender by @QuantTherapy
I played around the code to have entry and exit condition. The B-Xtrender @QuantTherapy
indicator is a momentum-based tool designed to help traders identify potential trade opportunities by tracking shifts in market momentum. Using a smoothed momentum oscillator, it detects changes in trend direction and provides clear signals for entry and exit points.
Features
Momentum Detection:
Tracks market momentum using the BX-Trender Oscillator.
Green bars indicate bullish momentum, while red bars indicate bearish momentum.
Lighter shades of green/red reflect weakening momentum.
Entry and Exit Signals:
Entry Condition: A long trade is triggered when the oscillator changes from red to green .
Exit Condition: A long trade exit is triggered when the oscillator changes from green to red .
Dynamic PnL Calculation:
Automatically calculates profit or loss in percentage (%) when a trade is exited.
Positive PnL values are prefixed with `+`, and negative values are shown as `-`.
Clear Visualization:
Bar chart-style oscillator in a separate pane for better trend visualization.
Trade labels on the main price chart for clear entry and exit points.
Inputs
Short-Term Momentum Parameters:
Short - L1: Length of the first EMA for short-term momentum calculations.
Short - L2: Length of the second EMA for short-term momentum calculations.
Short - L3: RSI smoothing period applied to the short-term momentum.
Long-Term Momentum Parameters:
Long - L1: Length of the EMA for long-term momentum calculations.
Long - L2: RSI smoothing period applied to the long-term momentum.
Entry and Exit Logic
Entry Condition:
A long trade is triggered when:
The BX-Trender Oscillator changes from red to green .
This shift indicates bullish momentum.
Exit Condition:
A long trade exit is triggered when:
The BX-Trender Oscillator changes from green to red .
This shift indicates a loss of bullish momentum or the start of bearish momentum.
PnL Calculation:
When exiting a trade, the indicator calculates the profit or loss as a percentage of the entry price.
Example:
A profit is displayed as +5.67% .
A loss is displayed as -3.21% .
Visualization
Oscillator Bars:
Green Bars: Represent increasing bullish momentum.
Light Green Bars: Represent weakening bullish momentum.
Red Bars: Represent increasing bearish momentum.
Light Red Bars: Represent weakening bearish momentum.
Just make sure that you checked off the B-Xtrend oscillator off from the style so chart can be active
Trade Labels:
Entry Labels: Displayed below the candle with the text Entry, long .
Exit Labels: Displayed above the candle with the text Exit .
Bar Chart Pane:
The oscillator is displayed in a separate pane for clear trend visualization.
Default Style
Oscillator Colors:
Green for bullish momentum.
Red for bearish momentum.
Light green and light red for weaker momentum.
Trade Labels:
Green labels for entries.
Red labels for exits, with percentage PnL displayed.
Use Cases
Momentum-Based Entries:
Detects shifts in momentum from bearish to bullish for precise trade entry points.
Trend Reversal Detection:
Identifies when bullish momentum weakens, signaling an exit opportunity.
Visual Simplicity:
Offers an intuitive way to track trends with its bar chart-style oscillator and clear trade labels.
This indicator doesn't indicate that it will work perfectly. More updates on the way.
Sticky Note Pro: Customizable Trading ChecklistStay organized and disciplined with this customizable sticky note on your TradingView chart. Perfect for traders who want to keep essential trading reminders, checklists, or notes visible while analyzing the market.
### Features:
- **Customizable Templates**: Choose from a **Trading Checklist**, **Risk Management**, or **Custom** template.
- **Section Customization**: Tailor the titles and content for up to three sections:
- 📊 **Analysis**: Track trend direction and support/resistance levels.
- 💰 **Risk Management**: Ensure proper risk management with reminders for risk percentage and stop loss settings.
- 🧠 **Psychology**: Stay disciplined with reminders to stick to your plan and avoid overtrading.
- **Dynamic Content**: Add or hide sections based on your preference, with dynamic spacing and content formatting.
- **Visual Customization**: Change text and background colors, and adjust text size and line spacing for optimal visibility.
- **Chart Integration**: The sticky note is displayed on the top-right corner of your chart and updates with the most recent bar.
### Why Use This Indicator?
This tool helps you stay on track with your trading plan, offering reminders for analysis, risk management, and trading psychology, all in one convenient place. Customize it to fit your style, and never miss a key point during your trading sessions again.
Arshtiq - Multi-Timeframe Trend StrategyMulti-Timeframe Setup:
The script uses two distinct timeframes: a higher (daily) timeframe for identifying the trend and a lower (hourly) timeframe for making trades. This combination allows the script to follow the larger trend while timing entries and exits with more precision on a shorter timeframe.
Moving Averages Calculation:
higher_ma: The 20-period Simple Moving Average (SMA) calculated based on the daily timeframe. This average gives a sense of the larger trend direction.
lower_ma: The 20-period SMA calculated on the hourly (current) timeframe, providing a dynamic level for detecting entry and exit points within the broader trend.
Trend Identification:
Bullish Trend: The script determines that a bullish trend is present if the current price is above the daily moving average (higher_ma).
Bearish Trend: Similarly, a bearish trend is identified when the current price is below this daily moving average.
Trade Signals:
Buy Signal: A buy signal is generated when the price on the hourly chart crosses above the hourly 20-period MA, but only if the higher (daily) timeframe trend is bullish. This ensures that buy trades align with the larger upward trend.
Sell Signal: A sell signal is generated when the price on the hourly chart crosses below the hourly 20-period MA, but only if the daily trend is bearish. This ensures that sell trades are consistent with the broader downtrend.
Plotting and Visual Cues:
Higher Timeframe MA: The daily 20-period moving average is plotted in red to help visualize the long-term trend.
Buy and Sell Signals: Buy signals appear as green labels below the price bars with the text "BUY," while sell signals appear as red labels above the bars with the text "SELL."
Background Coloring: The background changes color based on the identified trend for easier trend recognition:
Green (with transparency) when the daily trend is bullish.
Red (with transparency) when the daily trend is bearish.
Dynamic Open Levels# Dynamic Open Levels Indicator v1.0
Release Date: November 5, 2024
Introducing the Dynamic Open Levels indicator on TradingView! This tool helps traders visualize and analyze key opening price levels across multiple timeframes, making your market analysis more effective.
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### Key Features
- Multiple Timeframes : Yearly, Quarterly, Monthly, Weekly, Daily, 4H, and 1H levels available.
- Visibility Controls : Easily toggle visibility for each timeframe to suit your trading style.
- Line Customization : Set custom thickness and colors for lines, making charts easy to interpret.
- Monthly: Purple
- Weekly: Blue
- Daily: Green
- 4H: Red
- 1H: Orange
- Dynamic Coloring : Lines adjust color based on market conditions—teal for bullish (`rgb(34, 171, 148)`) and coral for bearish (`rgb(247, 82, 95)`).
### Labels & Customization
- Real-Time Labels : Each level is labeled for easy identification (e.g., Y for Yearly, Q for Quarterly).
- Label Settings : Customize opacity, text color, size, and position for clarity without cluttering your chart.
- Sizes : Choose from tiny, small, normal, large, to huge.
- Offset : Set labels from 1 to 10 to position them precisely.
- Color Management : Organize all colors under a dedicated Line Colors group for easy adjustments.
### Advanced Plotting & Performance
- Real-Time Updates : Levels are updated dynamically with the latest open prices.
- Extended Lines : Lines extend to the right, offering a consistent reference for future price movement.
- Optimized Performance : Handles up to 500 lines efficiently to maintain smooth performance.
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### Installation Instructions
1. Add to Chart :
- Go to the Indicators section in TradingView.
- Search for Dynamic Open Levels and add it to your chart.
2. Customize Settings :
- Line Thickness : Adjust to suit your preference.
- Visibility : Toggle timeframes like Yearly, Monthly, Weekly, etc., as needed.
- Labels : Configure opacity, text color, size, and offset under the Label Settings group.
---
### Documentation & Support
For guidance on using the Dynamic Open Levels indicator, visit our Documentation (#). If you need assistance, check out our Support Channel (#).
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Thank you for choosing Dynamic Open Levels . Stay tuned for future updates that will continue to improve your trading experience!
H A Z E D
Bullish/Bearish Reversal Bars Indicator [Skyrexio]Introduction
Bullish/Bearish Reversal Bars Indicator leverages the combination of candlestick reversal bar pattern and the Williams Alligator indicator to help traders in understanding where there is a high probability of market reversal or correction. Indicator works for both bearish and bullish cases. It visualizes the bearish and bullish reversal bars with red and green dots and also plots the Alligator's lips to make it more convenient for traders to understand if price is above or below lips line (more information in "Methodology and it's justification" paragraph).
Features
Market Facilitation Index(MFI) filter: with the specified parameter in settings user can choose to filter bullish and bearish reversal bars which passed the MFI condition.
Awesome Oscillator(AO) filter: with the specified parameter in settings user can choose to filter bullish and bearish reversal bars which passed the AO condition.
Alerts: user can set up the alert and have notifications when bullish/bearish reversal bar has been printed.
Methodology and it's justification
In the script’s methodology, we apply the concepts of bullish and bearish reversal bars introduced by Bill Williams in his book Trading Chaos. So, what exactly is a bullish or bearish reversal bar? At its core, it’s a candlestick pattern. A bullish reversal bar is a bar that closes in its upper half, while a bearish reversal bar closes in its lower half.
Why is this type of bar significant? Let’s look at the bullish reversal bar as an example. When the price is trending upward, forming higher highs with each candle, and we suddenly see a bullish bar that makes a new high but ultimately closes in its lower half, it signals a shift in control. Bears have taken control toward the end of that candle's period, pushing the price back down. This can be interpreted as a sign of trend weakness and a potential reversal (or at least a correction).
An additional key point is that a reversal bar often indicates a possible end to the trend. Therefore, for a reversal bar to be valid, several preceding candles should show lower highs (for bullish bars) or higher lows (for bearish bars), reinforcing the likelihood of a trend change.
The second step on methodology is the location of the bar related to Williams Alligator. The Williams Alligator Indicator, developed by Bill Williams, is a technical analysis tool that helps traders identify trends and potential turning points in the market. It consists of three lines, often called the jaw, teeth, and lips of the alligator, each representing different moving averages:
Jaw (Blue Line): A slower moving average, typically a 13-period smoothed moving average shifted 8 bars into the future.
Teeth (Red Line): A medium moving average, typically an 8-period smoothed moving average shifted 5 bars into the future.
Lips (Green Line): A faster moving average, usually a 5-period smoothed moving average shifted 3 bars into the future.
When the three lines are spread out and moving in the same direction, it suggests a strong trend (the "alligator" is "awake and feeding"). When they intertwine, the indicator suggests that the market is moving sideways, or in a range, signaling a lack of clear trend (the "alligator" is "sleeping"). Traders use the Alligator Indicator to enter trades in trending markets and avoid trades in choppy, non-trending markets.
If bullish reversal bar's high is not below and bearish reversal bar's low is not above all three Alligator's lines (jaw, lips, teeth) they cannot be interpreted as these types of bars. It can be explained as following: if we are waiting for the bullish reversal bar it shall be reversal from downtrend. If price is not below all three lines it can't be interpret as the downtrend according to this method. The opposite is true for the bearish reversal bar.
All described above are obligatory conditions for reversal bar, now let's discuss two not obligatory conditions. The first one is Market Facilitation Index (MFI) restriction. Let's briefly look what is MFI. The Market Facilitation Index (MFI) is a technical indicator that measures the price movement per unit of volume, helping traders gauge the efficiency of price movement in relation to trading volume. Here's how you can calculate it:
MFI = (High−Low)/Volume
MFI can be used in combination with volume, so we can divide 4 states. Bill Williams introduced these to help traders interpret the interaction between volume and price movement. Here’s a quick summary:
Green Window (Increased MFI & Increased Volume): Indicates strong momentum with both price and volume increasing. Often a sign of trend continuation, as both buying and selling interest are rising.
Fake Window (Increased MFI & Decreased Volume): Shows that price is moving but with lower volume, suggesting weak support for the trend. This can signal a potential end of the current trend.
Squat Window (Decreased MFI & Increased Volume): Shows high volume but little price movement, indicating a tug-of-war between buyers and sellers. This often precedes a breakout as the pressure builds.
Fade Window (Decreased MFI & Decreased Volume): Indicates a lack of interest from both buyers and sellers, leading to lower momentum. This typically happens in range-bound markets and may signal consolidation before a new move.
For our purposes we are interested in squat bars. This is the sign that volume cannot move the price easily. This type of bar increases the probability of trend reversal. In this indicator we added to enable the MFI filter of reversal bars. If potential reversal bar or two preceding bars have squat state this bar can be interpret as a reversal one.
The second additional filter is Awesome Oscillator. The Awesome Oscillator (AO), developed by Bill Williams, is a momentum indicator that measures market momentum by comparing recent price action to a longer historical context. It helps traders identify potential trend reversals and the strength of trends. Formula:
AO = SMA5(Median Price) − SMA34(Median Price)
where:
Median Price = (High + Low) / 2
SMA5 = 5-period Simple Moving Average of the Median Price
SMA 34 = 34-period Simple Moving Average of the Median Price
If AO is decreasing momentum is bearish, if increasing - bullish. According to Bill Williams approach reversal bars are the potential trades against the trend. As a result we added second filter for bullish reversal bars AO shall be decreasing, for bearish increasing.
How to use indicator
Apply it to desired chart and time frame. It works on every time frame.
Setup the filters with the "Enable MFI" and "Enable AO" checkboxes in the settings. By default they are turned on.
Analyze the price action. Indicator plotted the white line, this is the lips of an Alligator. It will help you to understand how price is moving in comparison to lips line. Indicator will print the green dot and text "BULL" below it current bar is bullish reversal. It will print the red dot and text "BEAR" above it if current bar is interpreted by algorithm as a bearish reversal.
Set up the alerts if it's needed. Indicator has two custom alerts called "Bullish reversal bar has been printed" and "Bearish reversal bar has been printed"
Disclaimer:
Educational and informational tool reflecting Skyrex commitment to informed trading. Past performance does not guarantee future results. Test indicators before live implementation.
Performance Summary and Shading (Offset Version)Modified "Recession and Crisis Shading" Indicator by @haribotagada (Original Link: )
The updated indicator accepts a days offset (positive or negative) to calculate performance between the offset date and the input date.
Potential uses include identifying performance one week after company earnings or an FOMC meeting.
This feature simplifies input by enabling standardized offset dates, while still allowing flexibility to adjust ranges by overriding inputs as needed.
Summary of added features and indicator notes:
Inputs both positive and negative offset.
By default, the script calculates performance from the close of the input date to the close of the date at (input date + offset) for positive offsets, and from the close of (input date - offset) to the close of the input date for negative offsets. For example, with an input date of November 1, 2024, an offset of 7 calculates performance from the close on November 1 to the close on November 8, while an offset of -7 calculates from the close on October 25 to the close on November 1.
Allows user to perform the calculation using the open price on the input date instead of close price
The input format has been modified to allow overrides for the default duration, while retaining the original capabilities of the indicator.
The calculation shows both the average change and the average annualized change. For bar-wise calculations, annualization assumes 252 trading days per year. For date-wise calculations, it assumes 365 days for annualization.
Carries over all previous inputs to retain functionality of the previous script. Changes a few small settings:
Calculates start to end date performance by default instead of peak to trough performance.
Updates visuals of label text to make it easier to read and less transparent.
Changed stat box color scheme to make the text easier to read
Updated default input data to new format of input with offsets
Changed default duration statistic to number of days instead of number of bars with an option to select number of bars.
Potential Features to Add:
Import dataset from CSV files or by plugging into TradingView calendar
Example Input Datasets:
Recessions:
2020-02-01,COVID-19,59
2007-12-01,Subprime mortgages,547
2001-03-01,Dot-com,243
1990-07-01,Oil shock,243
1981-07-01,US unemployment,788
1980-01-01,Volker,182
1973-11-01,OPEC,485
Japan Revolving Door Elections
2006-09-26, Shinzo Abe
2007-09-26, Yasuo Fukuda
2008-09-24, Taro Aso
2009-09-16, Yukio Hatoyama
2010-07-08, Naoto Kan
2011-09-02, Yoshihiko Noda
Hope you find the modified indicator useful and let me know if you would like any features to be added!
Weekly High/Low Day BreakdownThe "Weekly High/Low Day Breakdown" is a tool designed to help identify patterns in market behaviour by analysing the days of the week when weekly highs and lows occur. This indicator calculates the frequency and percentage of weekly highs and lows for each day from Monday to Sunday within the visible range of your chart.
Features:
Weekly Analysis: Calculates weekly highs and lows based on daily open high and low prices from Monday to Sunday.
Day-Specific Breakdown: Tracks which day of the week each weekly high and low occurred.
Visible Range Focus: Only considers data within the current visible range of your chart for precise analysis.
Interactive Table Display: Presents the results in an easy-to-read table directly on your chart.
How It Works:
Data Collection: Fetches daily high, low, day of the week, and time data regardless of your chart's timeframe. Uses these daily figures to determine the weekly high and low for each week.
Weekly Tracking: Monitors the day of the week when the weekly high and low prices occur. Resets tracking at the end of each week (Sunday).
Visible Range Analysis: Only includes weeks that fall entirely within the visible time range of your chart. Ensures that the analysis is relevant to the period you are focusing on.
Percentage Calculation: Counts the occurrences of weekly highs and lows for each day. Calculates the percentage based on the total number of weeks in the visible range.
Result Display: Generates a table with days of the week as columns and "Weekly High" and "Weekly Low" as rows. Displays the percentage values, indicating how often highs and lows occur on each day.
How to Use:
Add the Indicator: Apply the "Weekly High/Low Day Breakdown" indicator to your TradingView chart.
Adjust Visible Range: Zoom in or out to set the desired visible time range for your analysis.
Interpret the Table:
Columns: Represent days from Monday to Sunday.
"Weekly High" Row: Shows the percentage of times the weekly high occurred on each day. "Weekly Low" Row: Shows the percentage of times the weekly low occurred on each day.
Colors: Blue text indicates high percentages, red text indicates low percentages.
Example Interpretation:
If the table shows a 30% value under "Tuesday" for "Weekly High," it means that in 30% of the weeks within the visible range, the highest price of the week occurred on a Tuesday.
Similarly, a 40% value under "Friday" for "Weekly Low" indicates that 40% of the weekly lows happened on a Friday.
Market Bias IndicatorOverview
This Pine Script™ code generates a "Market Sentiment Dashboard" on TradingView, providing a visual summary of market sentiment across multiple timeframes. This tool aids traders in making informed decisions by displaying real-time sentiment analysis based on Exponential Moving Averages (EMA).
Key Features
Panel Positioning:
Custom Placement: Traders can position the dashboard at the top, middle, or bottom of the chart and align it to the left, centre, or right, ensuring optimal integration with other chart elements.
Customizable Colours:
Sentiment Colours: Users can define colours for bullish, bearish, and neutral market conditions, enhancing the dashboard's readability.
Text Colour: Customizable text colour ensures clarity against various background colours.
Label Size:
Scalable Labels: Adjustable label sizes (from very small to very large) ensure readability across different screen sizes and resolutions.
Market Sentiment Calculation:
EMA-Based Sentiment: The dashboard calculates sentiment using a 9-period EMA. If the EMA is higher than two bars ago, the sentiment is bullish; if lower, it's bearish; otherwise, it's neutral.
Multiple Timeframes: Sentiment is calculated for several timeframes: 30 minute, 1 hour, 4 hour, 6 hour, 8 hour, 12 hour, 1 day, and 1 week. This broad analysis provides a comprehensive view of market conditions.
Dynamic Table:
Structured Display: The dashboard uses a table to organize and display sentiment data clearly.
Real-Time Updates: The table updates in real-time, providing traders with up-to-date market information.
How It Works
EMA Calculation: The script requests EMA(9) values for each specified timeframe and compares the current EMA with the EMA from two bars ago to determine market sentiment.
Colour Coding: Depending on the sentiment (Bullish, Bearish, or Neutral), the corresponding cell in the table is color-coded using predefined colours.
Table Display: The table displays the timeframe and corresponding sentiment, allowing traders to quickly assess market trends.
Benefits to Traders
Quick Assessment: Traders can quickly evaluate market sentiment across multiple timeframes without switching charts or manually calculating indicators.
Enhanced Visualization: The color-coded sentiment display makes it easy to identify trends at a glance.
Multi-Timeframe Analysis: Provides a broad view of short-term and long-term market trends, helping traders confirm trends and avoid false signals.
This dashboard enhances the overall trading experience by providing a comprehensive, customizable, and easy-to-read summary of market sentiment.
Usage Instructions
Add the Script to Your Chart: Apply the "Market Sentiment Dashboard" indicator to your TradingView chart.
Customize Settings: Adjust the panel position, colours, and label sizes to fit your preferences.
Interpret Sentiment: Use the color-coded table to quickly understand the market sentiment across different timeframes and make informed trading decisions.
Ultimate Fibonacci Trading Tool [CHE]Ultimate Fibonacci Trading Tool – Your Key to More Precise Trading Decisions!
Description:
Discover the Ultimate Fibonacci Trading Tool , a powerful instrument designed to revolutionize your technical analysis. This tool is crafted to assist traders of all experience levels in better understanding market movements and making informed decisions. By utilizing a higher reference period from the past, it provides you with a clear advantage in identifying critical support and resistance levels.
🌟 Key Features in Detail:
1. Automatic Timeframe Selection:
- Auto Timeframe: The tool automatically detects the optimal higher reference period based on your current chart, providing more precise analysis without additional effort.
- Multiplier Mode: Define the higher timeframe using a multiplier. By default set to 5, this can be adjusted to suit your individual needs.
- Manual Selection: For maximum control, you can manually select the desired timeframe.
2. Customizable Fibonacci Levels:
- Enable/Disable Levels: Toggle specific Fibonacci levels (e.g., 0.236, 0.382, 0.5, 0.618, etc.) on or off to personalize your analysis.
- User-Defined Values: Input custom numerical values for each level to support specialized Fibonacci calculations.
- Color Customization: Choose individual colors for each level to keep your charts clear and visually appealing.
3. Automatic Trend Detection:
- The tool automatically identifies whether the market is in a bullish or bearish trend and adjusts the Fibonacci calculations accordingly, ensuring you always have the most relevant information at hand.
4. Period Separators with Start and Stop Labels:
- Customizable Separator Lines: Visualize the beginning of new time periods with lines that you can customize in style, color, and width.
- Start/Stop Labels: Clear markers help you instantly recognize critical time points and potential trend changes.
5. Flexible Label Management:
- Display Styles: Decide how Fibonacci levels are presented—percentage, price level, or both—so you get the information most important to you.
- Size Adjustment: Modify the size of the labels to optimize readability on your chart.
- Positioning: Place labels where they make the most sense for your analysis.
6. Informative Time Period Display:
- Customizable Info Box: Keep track of the reference period used with a customizable information box displayed directly on your chart.
- Layout Options: Determine the size, position, background, and text colors for seamless integration into your chart environment.
🔧 Detailed Settings Options:
- Timeframe Selection:
- Timeframe Type: Choose between "Auto Timeframe," "Multiplier," or "Manual" to control how the reference period is calculated.
- Multiplier: Set the multiplier when using the "Multiplier" mode; this value determines how many units of the current timeframe are used as the reference.
- Manual Resolution: If "Manual" is selected, you can input the exact timeframe (e.g., "60," "1D," "1W").
- Fibonacci Level Settings:
- Enabling Individual Levels: Toggle each Fibonacci level on or off according to your preference.
- Adjusting Level Values: Enter custom numerical values for each level to perform specialized calculations.
- Color Selection: Choose a unique color for each level to ensure clear differentiation.
- Period Separator Settings:
- Separator Color: Define the color of the separator lines to make them distinctly visible.
- Separator Style: Choose between "Solid," "Dashed," or "Dotted" to adjust the style of the separator lines.
- Separator Width: Set the width of the separator lines to match your chart aesthetics.
- Label Management:
- Label Style: Select how labels are displayed:
- Default: Shows both percentage and price.
- None: No labels are displayed.
- Percentage: Shows only the Fibonacci level percentage.
- Price: Shows only the price at the Fibonacci level.
- Label Size: Adjust the size of the labels (tiny, small, normal, large, huge) for optimal readability.
- Time Period Display:
- Show Time Period: Enable or disable the information box displaying the reference period.
- Size: Choose the size of the information box (tiny, small, normal, large, huge, auto).
- Positioning: Set the vertical (top, middle, bottom) and horizontal (left, center, right) position of the box.
- Color Customization: Select the background and text color of the information box to integrate it into your chart design.
📈 Why Is the Higher Reference Period Important?
The Ultimate Fibonacci Trading Tool leverages a higher reference period from the past to calculate Fibonacci levels. This approach offers several advantages:
- Deeper Market Analysis: By considering longer timeframes, you can uncover major market movements and trends that might be hidden in shorter periods.
- More Accurate Support and Resistance Levels: Higher timeframes provide more robust Fibonacci levels that are observed by many market participants.
- Better Decision-Making Foundation: With a comprehensive view of the market, you can make more informed trading decisions and minimize potential risks.
🎯 How This Tool Enhances Your Trading Strategy:
- Increased Efficiency: Automate complex calculations and save valuable time.
- Personalized Analysis: Adapt the tool to your individual needs and strategies.
- Enhanced Precision: Utilize precise Fibonacci levels to better determine entry and exit points.
- Improved Market Insight: Gain deeper understanding of market trends and structures by using higher timeframes.
🚀 Get Started Now!
Don't miss the opportunity to revolutionize your chart analysis. Integrate the Ultimate Fibonacci Trading Tool into your trading routine and benefit from more precise analyses and improved trading decisions.
Disclaimer
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
Best regards
Chervolino
Signals Pro [traderslog]The "Signals Pro" indicator is an advanced and versatile trading tool designed to help traders accurately identify key buy and sell signals using a combination of technical analysis factors such as candle patterns , RSI (Relative Strength Index) , and candle stability . It is highly customizable and offers a range of options that make it suitable for both short-term and long-term traders. By filtering market noise and providing actionable insights, this indicator enhances decision-making and helps traders capitalize on market movements.
At the core of the "Signals Pro" indicator is the concept of Candle Stability . The Candle Stability Index measures the ratio between a candle's body and its wicks, providing insight into the strength of the price movement during that period. A higher value indicates that the candle is more stable, meaning that the price has moved significantly without much retracement. This stability filter is crucial because it prevents the generation of signals during volatile or choppy market conditions where price direction is uncertain. Traders can adjust the Candle Stability Index from 0 to 1, allowing for precise control over how stable a candle must be for the indicator to generate a signal.
Another key feature is the use of RSI (Relative Strength Index) , a momentum oscillator that measures the speed and change of price movements. The RSI index parameter in the indicator can be customized to detect overbought or oversold conditions. When the RSI falls below the defined threshold, it signals that the market may be oversold , which can indicate a potential buying opportunity . Conversely, when the RSI exceeds a certain value, it suggests that the market is overbought , signaling a potential selling opportunity . This allows traders to time their trades more effectively by entering when market conditions are favorable and exiting before a potential reversal occurs.
The Candle Delta Length is another critical element of the "Signals Pro" indicator. This parameter measures how much the price has increased or decreased over a specific number of candles. By adjusting the Candle Delta Length , traders can define how many periods the indicator should analyze before generating a signal. A longer Candle Delta Length means the price has been trending in one direction for a longer period, providing more reliable signals. For instance, if the price has been steadily decreasing for five candles, this could signal a bullish reversal , triggering a buy signal .
To further enhance its accuracy, the "Signals Pro" indicator includes a unique feature that allows traders to disable repeating signals . This is particularly useful in situations where the market is moving sideways or during low volatility periods, where multiple signals may cluster close together, creating confusion. By enabling the disable repeating signals option, traders can prevent these repeated signals and focus on the most important and confirmed signals, ensuring cleaner charts and reducing the risk of overtrading.
A key technical aspect of the indicator is its ability to detect bullish and bearish engulfing patterns . The indicator looks for bullish engulfing patterns, which occur when a bullish candle fully engulfs the body of the previous bearish candle, signaling a potential bullish reversal . Conversely, bearish engulfing patterns occur when a bearish candle fully engulfs the previous bullish candle, indicating a bearish reversal . By incorporating these candle patterns with the Candle Stability Index and RSI levels , the indicator provides highly reliable signals based on price action and market sentiment.
Visual customization is another major advantage of the "Signals Pro" indicator. Traders can choose from several different label styles , such as text bubbles , triangles , or arrows to mark the buy and sell signals on the chart. This makes the signals stand out and easy to interpret at a glance. Furthermore, the color of these signals can be customized: green for buy signals and red for sell signals , along with options to adjust the text size and label styles for even more personalization. Traders can make the signals more or less prominent based on their preference, enhancing readability and workflow efficiency.
The indicator also includes a comprehensive alert system , ensuring traders never miss an opportunity. Alerts can be set for both buy and sell signals , and the system triggers in real-time when a valid signal is generated. This is especially useful for active traders who want to stay on top of the markets without constantly monitoring their screens. The alert system helps ensure that traders are notified of potential trading opportunities as soon as they arise, allowing them to act quickly in volatile markets.
From a practical standpoint, the "Signals Pro" indicator is designed to work seamlessly across multiple timeframes, making it suitable for scalpers, day traders, swing traders, and even long-term investors. Its flexibility allows it to adapt to different trading styles and time horizons, providing value for a wide range of market participants.
In summary, the Signals Pro indicator offers a robust and customizable solution for identifying buy and sell signals . By combining candle stability , RSI analysis , and engulfing patterns , the indicator provides traders with reliable signals to enter or exit trades. The ability to customize signal appearance, coupled with a real-time alert system , makes the "Signals Pro" indicator an invaluable tool for traders looking to improve their timing and decision-making. Whether you are looking to capture short-term price movements or want to time entries and exits in longer-term trends, this indicator offers the insights needed to navigate the markets with confidence.
Mars Signals - SSL Trend AnalyzerIntroduction
The "Mars Signals - Precision Trend Analyzer with SSL Baseline & Price Action Zones" is a comprehensive technical analysis tool designed for traders seeking to enhance their market analysis and trading strategies. This indicator integrates multiple advanced trading concepts, including dynamic moving averages, trend detection algorithms, momentum indicators, volume analysis, higher timeframe confirmation, candlestick pattern recognition, and precise price action zones. By combining these elements, the indicator aims to provide clear and actionable buy and sell signals, helping traders to make informed decisions in various market conditions.
Core Components and Functionality
1.Dynamic Baseline Calculation
Moving Average Types: The indicator allows users to select from a variety of moving average types for the baseline calculation, including Simple Moving Average (SMA), Exponential Moving Average (EMA), Hull Moving Average (HMA), Weighted Moving Average (WMA), Double EMA (DEMA), Triple EMA (TEMA), Least Squares Moving Average (LSMA), Triangular Moving Average (TMA), Kijun (from Ichimoku Kinko Hyo), and McGinley's Dynamic.
Baseline Length: Users can customize the length of the moving average, providing flexibility to adjust the sensitivity of the baseline to market movements.
Signal Line Generation: The indicator computes a dynamic signal line based on the relationship between the close price and the moving averages of the high and low prices. This signal line adapts to market volatility and trend changes.
2.SSL Baseline Integration
SSL Baseline: In addition to the primary baseline, the indicator incorporates an SSL (Semaphore Signal Level) Baseline, which further refines trend detection by considering the highs and lows over a specified period.
Dual Confirmation: The combination of the primary baseline and the SSL baseline enhances the reliability of the trend signals by requiring agreement between both baselines before generating a signal.
3.Momentum and Trend Filters
Relative Strength Index (RSI): The indicator uses the RSI to assess the momentum of price movements, filtering out signals that occur during overbought or oversold conditions.
Moving Average Convergence Divergence (MACD): The MACD is employed to identify the direction and strength of the trend, adding another layer of confirmation to the signals.
Average Directional Index (ADX): The ADX measures the strength of the trend, ensuring that signals are generated only when the market shows significant directional movement.
4.Volume Analysis
Volume Filter: An optional volume filter compares the current volume to its moving average, allowing traders to focus on signals that occur during periods of higher market activity.
5.Higher Timeframe Confirmation
Multi-Timeframe Analysis: The indicator can incorporate data from a higher timeframe, comparing the current price to the higher timeframe's baseline and signal line. This feature helps traders align their trades with the broader market trend.
6.Candlestick Pattern Recognition
Bullish Patterns: The indicator detects bullish patterns such as Bullish Engulfing, Piercing Line, Hammer, and Doji.
Bearish Patterns: It also identifies bearish patterns like Bearish Engulfing, Dark Cloud Cover, Shooting Star, and Doji.
Pattern Prioritization: The patterns are prioritized to highlight the most significant formations, which can serve as additional confirmation for trade entries and exits.
7.Price Action Zones
Support and Resistance Levels: The indicator automatically identifies pivot highs and lows to establish dynamic support and resistance levels.
Zone Visualization: It draws shaded rectangles on the chart to represent these zones, providing a clear visual aid for potential reversal or breakout areas.
ATR-Based Zone Width: The zones' thickness is dynamically calculated using the Average True Range (ATR), adjusting to the current market volatility.
Background Coloring: The chart background changes color when the price is above the maximum resistance or below the minimum support, alerting traders to significant price movements.
Interpreting the Signals
1.Buy Signals
Conditions:
Price crosses above the signal line.
RSI is below 70 (not overbought).
MACD line is above the signal line (indicating bullish momentum).
ADX is above the user-defined threshold (default is 20), confirming a strong trend.
(Optional) Volume is above its moving average if the volume filter is enabled.
(Optional) Price is above the higher timeframe baseline and signal line if the higher timeframe filter is enabled.
(Optional) A bullish candlestick pattern is detected if the candlestick pattern filter is enabled.
Visual Indicators:
An upward-pointing label with the text "BUY" appears below the price bar.
The baseline and SSL baseline lines turn to colors indicating bullish conditions.
2.Sell Signals
Conditions:
Price crosses below the signal line.
RSI is above 30 (not oversold).
MACD line is below the signal line (indicating bearish momentum).
ADX is above the user-defined threshold, confirming a strong trend.
(Optional) Volume is above its moving average if the volume filter is enabled.
(Optional) Price is below the higher timeframe baseline and signal line if the higher timeframe filter is enabled.
(Optional) A bearish candlestick pattern is detected if the candlestick pattern filter is enabled.
Visual Indicators:
A downward-pointing label with the text "SELL" appears above the price bar.
The baseline and SSL baseline lines turn to colors indicating bearish conditions.
3.Support and Resistance Zones
Interpretation:
Resistance Zones: Represent areas where the price may face selling pressure. A break above these zones can signal a strong bullish move.
Support Zones: Represent areas where the price may find buying interest. A break below these zones can signal a strong bearish move.
Background Color:
The background turns red when the price is above the maximum resistance, indicating potential overextension.
The background turns green when the price is below the minimum support, indicating potential undervaluation.
Effective Usage Strategies
1.Customization
Adjusting Baseline and SSL Settings: Traders should experiment with different moving average types and lengths to match their trading style and the specific characteristics of the asset being analyzed.
Filtering Parameters: Modify RSI, MACD, and ADX settings to fine-tune the sensitivity of the signals.
Volume and Higher Timeframe Filters: Enable these filters to add robustness to the signals, especially in volatile markets or when trading higher timeframes.
2.Combining with Other Analysis
Fundamental Analysis: Use the indicator in conjunction with fundamental insights to validate technical signals.
Risk Management: Always apply proper risk management techniques, such as setting stop-loss and take-profit levels based on the support and resistance zones provided by the indicator.
3.Backtesting
Historical Analysis: Utilize the indicator's settings to backtest trading strategies on historical data, helping to identify the most effective configurations before applying them in live trading.
4.Monitoring Market Conditions
Volatility Awareness: Pay attention to the ATR and ADX readings to understand market volatility and trend strength, adjusting strategies accordingly.
Event Considerations: Be cautious around major economic announcements or events that may impact market behavior beyond technical indications.
Indicator Inputs and Customization Options
Baseline Type and Length: Select from multiple moving average types and specify the period length.
ADX Settings: Adjust the length, smoothing, and threshold for trend strength confirmation.
Volume Filter: Enable or disable the volume confirmation filter.
Higher Timeframe Filter: Choose to incorporate higher timeframe analysis and specify the desired timeframe.
Candlestick Patterns: Enable or disable the detection of candlestick patterns for additional signal confirmation.
SSL Baseline Type and Length: Customize the SSL baseline settings separately from the primary baseline.
Price Action Zones Settings:
Zone Thickness: Adjust the visual thickness of the support and resistance zones.
Lookback Period: Define how far back the indicator looks for pivot points.
ATR Multiplier for Zone Width: Set the multiplier for ATR to determine the dynamic width of the zones.
Maximum Number of Zones: Limit the number of support and resistance zones displayed.
Pivot Bars: Customize the number of bars to the left and right used for identifying pivot highs and lows.
Conclusion
The "Mars Signals - Precision Trend Analyzer with SSL Baseline & Price Action Zones" is a versatile and powerful tool that amalgamates essential technical analysis techniques into a single, user-friendly indicator. By providing clear visual signals and incorporating multiple layers of confirmation, it assists traders in identifying high-probability trading opportunities. Whether you are a day trader, swing trader, or long-term investor, this indicator can be tailored to suit your trading style and enhance your decision-making process.
To maximize the benefits of this indicator:
Understand Each Component: Familiarize yourself with how each part of the indicator contributes to the overall signal generation.
Customize Thoughtfully: Adjust the settings based on the asset class, market conditions, and your risk tolerance.
Practice Diligently: Use demo accounts or paper trading to practice and refine your strategy before deploying it in live markets.
Stay Informed: Continuously educate yourself on technical analysis and market dynamics to make the most informed decisions.
Disclaimer
Trading financial markets involves risk, and past performance is not indicative of future results. This indicator is a tool to aid in analysis and should not be the sole basis for any trading decision. Always conduct your own research and consider consulting with a licensed financial advisor.
Prometheus Fractal WaveThe Fractal Wave is an indicator that uses a fractal analysis to determine where reversals may happen. This is done through a Fractal process, making sure a price point is in a certain set and then getting a Distance metric.
Calculation:
A bullish Fractal is defined by the current bar’s high being less than the last bar’s high, and the last bar’s high being greater than the second to last bar’s high, and the last bar’s high being greater than the third to last bar’s high.
A bearish Fractal is defined by the current low being greater than the last bar’s low, and the last bar’s low being less than the second to last bar’s low, and the last bar’s low being less than the third to last bar’s low.
When there is that bullish or bearish fractal the value we store is either the last bar’s high or low respective to bullish or bearish fractal.
Once we have that value stored we either subtract the last bar’s low from the bullish Fractal value, and subtract the last bar’s high from the bearish Fractal value. Those are our Distances.
Code:
isBullishFractal() =>
high > high and high < high and high > high
isBearishFractal() =>
low < low and low > low and low < low
var float lastBullishFractal = na
var float lastBearishFractal = na
if isBullishFractal() and barstate.isconfirmed
lastBullishFractal := high
if isBearishFractal() and barstate.isconfirmed
lastBearishFractal := low
//------------------------------
//-------CACLULATION------------
//------------------------------
bullWaveDistance = na(lastBullishFractal) ? na : lastBullishFractal - low
bearWaveDistance = na(lastBearishFractal) ? na : high - lastBearishFractal
We then plot the bullish distance and the negative bearish distance.
The trade scenarios come from when one breaks the zero line and then goes back above or below. So if the last bullish distance was below 0 and is now above, or if the last negative bearish distance was above 0 and now below. We plot a green label below a candle for a bullish scenario, or a red label above a candle for a bearish one, you can turn them on or off.
Code:
plot(bullWaveDistance, color=color.green, title="Bull Wave Distance", linewidth=2)
plot(-bearWaveDistance, color=color.red, title="Bear Wave Distance", linewidth=2)
plot(0, "Zero Line", color=color.gray, display = display.pane)
bearish_reversal = plot_labels ? bullWaveDistance < 0 and bullWaveDistance > 0 : na
bullish_reversal = plot_labels ? -bearWaveDistance > 0 and -bearWaveDistance < 0 : na
plotshape(bullish_reversal, location=location.belowbar, color=color.green, style=shape.labelup, title="Bullish Fractal", text="↑", display = display.all - display.status_line, force_overlay = true)
plotshape(bearish_reversal, location=location.abovebar, color=color.red, style=shape.labeldown, title="Bearish Fractal", text="↓", display = display.all - display.status_line, force_overlay = true)
We can see in this daily NASDAQ:QQQ chart that the indicator gives us marks that can either be used as Reversal signals or as breathers in the trend.
Since it is designed to provide reversals, on something like Gold where the uptrend has been strong, the signals may be just short breathers, not full blown strong reversal signs.
The indicator works just as well intra day as it does on larger timeframes.
We encourage traders to not follow indicators blindly, none are 100% accurate. Please comment on any desired updates, all criticism is welcome!
lib_setLibrary "lib_set"
This is a convenience lib that bundles different setter functions allowing to update all coordinates and of line/box in one call, and coordinates and text for label.
method set_xy_text(this, x, y, txt, tooltip)
Updates a label object with new data (equals redrawing it)
Namespace types: series label
Parameters:
this (label)
x (int) : reassigns the x coordinate, optional param, no effect if x = na (same as draw(extend_only = true) for Line objects). Avoiding to reassign x can prevent errors for invalid params passed to set_x***
y (float) : reassigns the y coordinate
txt (string) : reassigns the label text
tooltip (string) : reassigns the label tooltip
method set_xy1_xy2(this, x1, y1, x2, y2)
Updates a line object with new data (equals redrawing it)
Namespace types: series line
Parameters:
this (line)
x1 (int) : reassigns the x1 coordinate, optional param, no effect if x1 = na (same as draw(extend_only = true) for Line objects). Avoiding to reassign x1 can prevent errors for invalid params passed to set_x***
y1 (float) : reassigns the y1 coordinate
x2 (int) : reassigns the x2 coordinate
y2 (float) : reassigns the y2 coordinate
method set_left_top_right_bottom(this, left, top, right, bottom)
Updates a box object with new data (equals redrawing it)
Namespace types: series box
Parameters:
this (box)
left (int) : reassigns the left coordinate, optional param, no effect if left = na (same as draw(extend_only = true) for Box objects). Avoiding to reassign 'left' can prevent errors for invalid params passed to set_x***
top (float) : reassigns the top coordinate
right (int) : reassigns the right coordinate
bottom (float) : reassigns the bottom coordinate
Pivot-based Swing Highs and LowsRelease Notes for Pivot-based Swing Highs and Lows Indicator with HH, HL, LH, LL and Labels
Version 1.0.0
Release Date: 29th Sept 2024
Overview:
This Pine Script version 5 indicator is designed to identify and display Swing Highs and Swing Lows based on pivot points. The indicator visually marks Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL) on the chart. The release introduces an improved visual representation with dotted lines and colored labels for easy identification of market structure, using plotshape() and line.new().
Key Features:
1. Pivot-Based Swing Identification:
The indicator uses ta.pivothigh() and ta.pivotlow() to detect significant pivot points on the chart.
The length of the pivot can be adjusted through the pivot_length parameter, allowing users to customize the sensitivity of swing identification.
2. Swing Highs and Lows with Labels:
Higher High (HH) and Lower High (LH) points are marked with green downward triangles.
Higher Low (HL) and Lower Low (LL) points are marked with red upward triangles.
The plotshape() function is used to provide clear visual markers, making it easy to spot the changes in market structure.
3. Dotted Line Visuals:
Green Dotted Lines: Connect Higher Highs (HH) and Higher Lows (HL) to their corresponding previous swings.
Red Dotted Lines: Connect Lower Highs (LH) and Lower Lows (LL) to their corresponding previous swings.
The use of color-coded dotted lines ensures better visual understanding of the trend continuation or reversal patterns.
4. Customizable Input:
The user can adjust the pivot_length parameter to fine-tune the detection of pivot highs and lows according to different timeframes or trading strategies.
Usage:
Higher High (HH): Green downward triangle, indicating a new high compared to the previous pivot high.
Lower High (LH): Green downward triangle, indicating a lower high compared to the previous pivot high.
Higher Low (HL): Red upward triangle, indicating a higher low compared to the previous pivot low.
Lower Low (LL): Red upward triangle, indicating a new lower low compared to the previous pivot low.
Dotted Lines: Connect previous swing points, helping users visualize the trend and potential market structure changes.
Improvements:
Label Substitution: In place of label.new() (which might cause issues in some environments), the indicator now uses plotshape() to provide a reliable and visually effective solution for marking swings.
Streamlined Performance: The logic for determining higher highs, lower highs, higher lows, and lower lows has been optimized for smooth performance across multiple timeframes.
Known Limitations:
No Direct Text Labels: Due to the constraints of plotshape(), text labels like "HH", "LH", "HL", and "LL" are not directly displayed. Instead, color-coded shapes are used for easy identification.
How to Use:
Apply the script to your chart via the TradingView Pine Editor.
Customize the pivot_length to suit your trading style or the timeframe you are analyzing.
Monitor the chart for marked Higher Highs, Lower Highs, Higher Lows, and Lower Lows for potential trend continuation or reversal opportunities.
Use the dotted lines to trace the evolution of market structure.
Please share your comments, thoughts. Also please follow me for more scripts in future. Mean time Happy Trading :)
Sector Performance v0.3Sector Performance Dashboard v0.3 (Work In Progress)
- Provides a comprehensive view of sector and stock performance across multiple timeframes
Features:
- Displays performance data for various Indian market sectors and their constituent stocks
- Allows selection of different sector groups (e.g., NIFTY, BANKNIFTY, CNXAUTO, etc.)
- Shows performance over four customizable time periods (default: Year, Quarter, Month, Week)
- Calculates percentage change for each time period
- Presents current price, 250-day high and low, and percentage distance from these extremes
- Uses color-coding to quickly identify positive (green) and negative (red) performance
- Adjustable text size for better visibility
- Functionality:
- Creates a table in the center of the chart
- Populates the table with up to 15 symbols per sector
- Updates data in real-time on daily timeframe
- Allows for easy comparison of different stocks within a sector
- User Inputs:
- Sector selection
- Four customizable date inputs for different time periods
- Adjustable text size for the table
- Use Cases:
- Quick sector rotation analysis
- Identifying outperforming and underperforming stocks within a sector
- Monitoring multiple timeframes simultaneously for comprehensive market view
- Assisting in stock screening and selection process
Risk Contract Table by Soothing TradesDescription:
Risk Contract Table by Soothing Trades
This script provides an intuitive table that displays the calculated risk in dollars for various contract sizes based on the size of the last closed candle.
It is designed to help traders quickly assess their risk exposure based on the most recent price movement.
Key Features:
Automatic and Manual Tick Value Calculation: Automatically fetches the tick value for your instrument.
You can also override it with a manual input using a convenient checkbox.
Customizable Contract Sizes: Easily input your preferred contract sizes.
The script dynamically adjusts the table headers and risk calculations based on your inputs.
Real-Time Updates:
The table updates with each new candle close, ensuring that your risk calculations are always based on the latest candle size.
User-Friendly Display: The table is displayed directly on your chart with customizable colors for both text and background, making it easy to match your chart’s theme.
How to Use:
Tick Value: By default, the script uses the automatic tick value.
To manually set the tick value, check the "Use Manual Tick Value" box and enter your desired value.
Contract Sizes: You can input the number of contracts for each category (5ct, 10ct, 15ct, 17ct). The script calculates and displays the risk for each contract size based on the tick movement of the last closed candle only.
Real-Time Calculations: Risk calculations are updated only after the candle is closed, so there are no misleading values during live market activity.
Customization Options:
Manual Tick Value Override: Use a custom tick value by enabling the "Use Manual Tick Value" option.
Custom Contract Sizes: Input your desired contract sizes, and the table headers and risk calculations will update accordingly.
Color Customization: Customize the text and background colors to fit your chart’s aesthetic.
How It Works:
The script calculates the tick movement from the last closed candle and multiplies it by the specified tick value and the number of contracts.
You can choose to use the default automatic tick value or manually input your own.
A table appears on the chart showing the risk for different contract sizes based solely on the size of the last candle, providing a quick snapshot of potential exposure from the most recent price movement.
This script is ideal for traders who want to keep a quick and accurate overview of their potential risk exposure based on the size of the most recent price action.
Whether you are scalping, day trading, or holding positions overnight, this tool by Soothing Trades will help you stay informed and make better trading decisions.
Happy Trading!
- use at own risk, for education and test purpose only.
Developed by Soothing Trades
Stochastic RSI Strategy with Inverted Trend LogicOverview:
The Stochastic RSI Strategy with Inverted Trend Logic is a custom-built Pine Script indicator that leverages the Stochastic RSI and a 200-period moving average to generate precise buy and sell signals. It is specifically designed for traders looking to capture opportunities during short-term market movements while factoring in broader trend conditions.
Key Components:
Stochastic RSI:
Stochastic RSI is a momentum indicator that applies stochastic calculations to the standard Relative Strength Index (RSI), rather than price data. This makes it particularly sensitive to market momentum changes, which is essential for timing entries and exits.
K Line and D Line: The indicator calculates and smooths both the K and D lines to capture momentum shifts more accurately.
200-Period Moving Average:
The 200-period Simple Moving Average (SMA) is used as a trend filter.
If the price is above the 200-period SMA, the trend is considered bullish.
If the price is below the 200-period SMA, the trend is considered bearish.
Inverted Trading Logic:
The trading logic is inverted from traditional strategies:
Long trades are executed only when the market is in a bearish trend (price below the 200-period moving average).
Short trades are executed only when the market is in a bullish trend (price above the 200-period moving average).
This inversion allows traders to take advantage of potential trend reversals by entering positions in the opposite direction of the prevailing trend.
Trading Rules:
Long Trade Conditions (Buy Signal):
The Stochastic RSI K line must be below 5 for 4 consecutive candles (oversold condition).
The price must be below the 200-period SMA (indicating a bearish trend).
Once these conditions are met, the indicator will generate a buy signal on the close of the 4th candle.
Exit Condition: The long position is exited when the Stochastic RSI K line crosses above 50 (neutral level).
Short Trade Conditions (Sell Signal):
The Stochastic RSI K line must be above 95 for 4 consecutive candles (overbought condition).
The price must be above the 200-period SMA (indicating a bullish trend).
Once these conditions are met, the indicator will generate a sell signal on the close of the 4th candle.
Exit Condition: The short position is exited when the Stochastic RSI K line crosses below 50.
Visual Signals on the Chart:
Buy Signal:
A green triangle below the bar is displayed on the chart when a buy condition is met, indicating a potential long trade opportunity.
The text "BUY" is displayed for further clarity.
Sell Signal:
A red triangle above the bar is displayed on the chart when a sell condition is met, indicating a potential short trade opportunity.
The text "SELL" is displayed for further clarity.
How to Use the Indicator:
Attach the Indicator: Apply the indicator to your desired chart (works on any time frame, but is optimized for short- to medium-term trading).
Monitor Signals: Watch for buy and sell signals on the chart:
Buy Signal: Enter long positions when a green triangle appears below the candle.
Sell Signal: Enter short positions when a red triangle appears above the candle.
Exit Positions: Exit long positions when the Stochastic RSI crosses above the 50 level, and exit short positions when the Stochastic RSI crosses below the 50 level.
Indicator Display:
Stochastic RSI: A visual representation of the Stochastic RSI (K and D lines) is plotted below the price chart, with overbought (100), midpoint (50), and oversold (0) levels clearly marked.
200-period SMA: The 200-period moving average is plotted on the price chart, giving a clear indication of the broader trend direction (orange line).
Key Benefits:
Reversal Opportunities: This strategy allows traders to capture reversal trades by using an inverted logic where longs are taken in bearish conditions and shorts are taken in bullish conditions. This can help capitalize on potential trend exhaustion and reversals.
Clear and Simple Rules: The use of Stochastic RSI and the 200-period moving average ensures the strategy remains simple yet effective, making it easy for traders to follow.
Visual Alerts: The indicator provides clear buy and sell signals, making it easy for traders to spot trading opportunities in real-time without needing to monitor multiple conditions manually.
Limitations and Considerations:
Trend Changes: Since the strategy is designed to work during trend reversals, it might not perform as well during strong, prolonged trends where price continues moving in one direction without significant pullbacks.
Time Frame Suitability: While the indicator works on any time frame, shorter time frames may result in more frequent signals and higher trade frequency, whereas higher time frames will provide fewer but potentially stronger signals.
Conclusion:
The Stochastic RSI Strategy with Inverted Trend Logic is a powerful tool for traders looking to capture market reversals by entering trades against the prevailing trend direction based on momentum exhaustion. Its simple and clear logic, combined with easy-to-understand visual signals, makes it a versatile indicator for both novice and experienced traders.
