BEST Ultimate Engulfing ScreenerHello traders
Continuing deeper and stronger with the screeners serie. I keep getting requests private messages and requests saying that screeners aren't possible with TradingView.
My answer is always... "Reallyyy ??" (I never find a better answer than that...)
I'll publish a few screeners just for everyone to understand what can be done with Pinescript. We don't have to wait for TradingView to allow screener based on custom indicator - we can build our own ^^
I - What is an engulfing pattern
Let's start with a screener to check for a very famous candlestick pattern called engulfing
Engulfing candles tend to signal a reversal of the current trend in the market. This specific pattern involves two candles with the latter candle ‘engulfing’ the entire body of the candle before it.
The engulfing candle can be bullish or bearish depending on where it forms in relation to the existing trend
Source and more info here
These engulfing candles indicate a strong shift in direction, and when combined with observation of the price-trending direction that precedes it, this shift creates the opportunity for a trading strategy.
II - How did I set the screener
I added an optional filter being Price vs SMA. The idea is to select only the engulfing whenever the price also breaks an SMA - this usually translates a stronger move - but could sometimes give the signal too late (#meh #trading #ain't #easy)
The visual signals are as follow:
- square: whenever the engine detects an engulfing and an SMA breakout
- triangle: the engine only detects an engulfing
- dash: none of the above
Then the colors are:
- orange when bullish
- yellow when bearish
- aqua/dash when none of the above
Cool Hacks
"But sir... what can we do with only 5 instruments for a screener?" I agree not much but...
even if I allow only 5 instruments per indicator - nothing prevents you from adding multiple times the same indicator and changing the selected instruments for each. I also show why the SPX500 gave a yellow triangle (bearish engulfing) and how to match it with the screener.
=> imgur.com
Wishing you all the BEST trading
Dave
Alertsignals
Main Trend Alert v1.1*** New Version of Main Trend Alert ***
This is an indicator that shows the main trend of and chart (crypto, forex, stock and etc). Good for day trading.
- HOW TO USE: When you are on lower timeframe, set the "Main Timeframe" to a higher timeframe from settings.
For example: Set "Main Timeframe = 1 Hour" when you are trading on 5 minute chart.
* Never trade just based on alerts of this script. Always use it with a system you like. Keep in mind that his script doesn't determine the stop loss and exit point.
* NO REPAINTS *
Good Luck,
JERK UP {LM.Alerts Edition} (D)This is the " LONGS-MANAGEMENT Alerts " {LM.Alerts} Edition of JERK UP to enable auto-trading via alerts signaling.
Only the long-signals, generated from the underlying JERK UP algorithm, is used in this strategy-alerts script, with my latest risk-exit (collect gains) and stop-limit algorithms, as well as a bear-market filter, implemented.
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Since {LM.Alerts} engine only focuses on trading and managing longs, a bear-market filter is implemented base on the FUSIONGAPS indicator.
The FUSIONGAPS algorithm signals local bull or bear market phases, and then disables trades conditionally to reduce the chances of having to take losses during a local bear market phase (since the short-signals are not traded).
Enabling the different (Fastest >> Slowest) FUSIONGAPS levels (e.g. 50/15, 100/50, 200/50, 200/100, etc) activates the use of each of these levels to decide the local bull/bear market phases.
So in summary, the {LM.Alerts} algorithm trades up a bullish-hill, taking profits along the way; but stops all trading activity when the market is rolling down a bearish-hill; and then once a local bull-phase is detected again, it resumes trading, etc.
Note: To trade on both bullish and bearish phases, {LM.Alerts} scripts can be applied on an inverse-chart (i.e. 0-BTCUSD) for shorts.
The {LM.Alerts} engine will be ported to my other more powerful trade-signaling scripts in the future.
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FUSIONGAPS V5
Note: In no way is this intended as a financial/investment/trading advice. You are responsible for your own investment decisions and/or trades.
~JuniAiko
(=^~^=)v~
Bollinger Bands Outside ReversalNot the most accurate indicator, but if combined with some others, it could help you.
BUY Conditions (green):
1. Blue candlestick closes above Bollinger Bands
2. Red candlestick opens outside Bollinger Bands
SELL Conditions (red):
1. Red candlestick closes below Bollinger Bands
2. Blue candlestick opens outside Bollinger Bands
Please always remember, there is no holy grail indicator!
Philakone 55 EMA Swing Trading StrategyThis strategy was inspired by Philkone Crypto's "Lesson 12: Let's Learn Advanced 55 EMA Strategy" video.
steemit.com
Supports Buy and Sell Condition alerts and displays arrows on the chart.