ADI Market Internals MatrixUsage
This script is designed for use during market hours but is particularly useful in the last trading hour—a period known for increased volatility and volume as traders close positions and make final decisions for the day.
Trend Analysis
The histogram provides a quick visual reference for the market's direction based on USI:ADD and $VOLSPD. A predominance of green bars suggests a bullish trend, while red bars indicate bearish conditions based on the BIAS EMA.
Volatility Assessment
The VIX label gives a quick glance at the user-inputted VIX pivot, aiding in volatility assessment and bias determination.
Features
VIX Label: Changes color (red/green) to indicate a bullish or bearish bias based on the user's input for the VIX pivot.
EMA Calculations: Calculates the EMAs for USI:ADD and $VOLSPD based on custom input, which helps determine the market trend.
Trend Determination: Identifies the close value of USI:ADD and $VOLSPD and whether they are above or below their respective EMAs.
Loopback Period: Calculates how far to look back to determine the trend, adjustable by the user.
Market Hours Control: Includes an input (startTime) for specifying when the histogram should start and end (9:30 AM to 4:00 PM EST).
Histogram Coloring
Green: Indicates a bullish trend (above the specified EMA length).
Red: Indicates a bearish trend (below the specified EMA length).
Gray: Indicates a neutral trend.
Customization
Users can adjust the script's sensitivity by changing the length for the EMAs, vixThreshold, startTime, and loopbackPeriod to fit their trading style or market conditions.
Note
Always use this tool in conjunction with other technical analysis tools and ensure proper risk management strategies are employed.
Индикаторы ширины рынка
NSE Market Breadth based on 4% Advance & DeclineThis indicator displays a ratio count of NSE (India) stocks advancing or declining by 4% daily.
Market breadth provides insights into the participation of stocks in a market's movement.
Various interpretations of market breadth exist, including gauging the quantity of new highs and new lows or evaluating up and down volume. Nevertheless, all breadth indicators fundamentally stem from the same basic concept, which can be expressed mathematically as the number of advancing & declining stocks.
Thus, a count or ratio of advancing & declining stock objectively depicts the participation of stocks in an index or stock universe.
A 4% advance or decline shows a significant range expansion.
⦿ The script calculates advances as a ratio of the daily percentage change ≥ 4% & the total number of stocks.
⦿ Declines are calculated as a ratio of the daily percentage change < -4% & the total number of stocks.
⦿ Net breadth is simply calculated by subtracting the declines from the advances. (4% up - 4% down). This depicts whether the day was bearish or bullish.
Green area depicts the 4% advances.
Red area depicts the 4% declines.
The table provides the actual values for the Advances, declines & the net breadth for the day.
There is an option to turn on dark mode in the settings.
There is an option to display only the net breadth .
You can turn on the Expanded mode for the table which will display the data for the past week.
Among other options, you can choose to not display colors in the table .
There is an option plot ' comfort' levels ' of +/- 10 also.
Interpretation
A market where advances are more than declines is indicative of a healthy bull market. But extreme breadth can signal exhaustion, often leading to a reversal. This is true in case of advances as well as declines.
If a market continues to rise while breadth does not increase, this is considered a divergence, which frequently leads to a reversal of the prevailing trend.
Dependency:
The script uses the Pine Seeds service to import custom data hosted in a GitHub repository and accesses it via TradingView as the frontend. So, the number of bars appearing on charts is fully dependent on the amount of historical data available. Any error or omission, if there, is a reflection of the hosted data, & not that of TradingView.
Limitations:
Such data has some limitations, like it can only be updated at EOD (End-of-Day), & only daily-based timeframes can be applied to such data. Irrespective of the intraday changes, only the last saved value on the chart is seen. So, it's best to use this script as EOD, rather than intraday.
At the time of publication of this script, historical data was available till the year 2004.
The universe of stocks chosen for the data is all stocks with latest Close >= 1 and Market Cap > 10.
Credits:
NSE Market Breadth data is from Chhirag_Kedia , & the Pine seeds are courtesy of EquityCraze
NSE Market Breadth VolumeMarket Breadth Volume (MBV) is defined as the ratio between the count of stocks giving a volume 1.5 times greater than its 20-day SMA, and the count of stocks giving a volume 0.5 times lesser than its 20-day SMA. This breadth indicator reflects participation in the markets. A sloping upward MBV shows that money is coming into the market.
MBV was devised by Chhirag_Kedia & this is how he explains it:
When it surpasses 1+ (benchmarking), it shows a matured upswing, which in the initial stages will result in strong buying but as the time passes with such a high rating will result in an extended market with high no. of breakout failures.
The final stage is ratings above 1.5 to 2+. These in later stages will reflect extreme reading and will result in trend exhaustion.
Similarly on the bearish side, the volume will dry up as we get a shakeout or a strong red day. This reduction in participation will result in lacklustre outcome in breakouts and will subsequently dry up further, usually coming under 0.2 to show extreme dryness.
Look for a systematic pick-up in volume post 15-20 days of first shakeout. Look for days with significant pick up with positive breadth, like volume coming around 0.20 etc. jumps to 0.35 to 0.45 etc. This will suggest that participation is picking up in the market and we will see a rally soon.
FEATURES
⦿ Multi-color Mode
For the sake of visual representation, you can turn on the multi-color mode where the volume bars can have one of the 4 colors:
Dry volume (Grey): Volume ≤ 0.25
Low Volume (Orange): Volume between 0.25 & 0.5
Mid Volume (Green): Volume between 0.5 & 1
High Volume (blue): Volume > 1 → Mature upswing
⦿ Background Net Breadth
Option to display the to display the net breadth as a background color. By default, the background colors are turned off.
⦿ Moving Average
There is an option to turn on a moving average of the volume. By default, it is the 5 SMA. This shows the near-term trend, & whether the MBV is sloping upward or not.
Dependency:
The script uses the Pine Seeds service to import custom data hosted in a GitHub repository and accesses it via TradingView as the frontend. So, the number of bars appearing on charts is fully dependent on the amount of historical data available. Any error or omission, if there, is a reflection of the hosted data, & not that of TradingView.
Limitations:
Such data has some limitations, like it can only be updated at EOD (End-of-Day), & only daily-based timeframes can be applied to such data. Irrespective of the intraday changes, only the last saved value on the chart is seen. So, it's best to use this script as EOD, rather than intraday.
At the time of publication of this script, historical data was available till the year 2004.
The universe of stocks chosen for the data is all stocks with latest Close >= 1 and Market Cap > 10.
Credits:
NSE Market Breadth data is from Chhirag_Kedia , & the Pine seeds are courtesy of EquityCraze
NSE Percentage of stocks above Moving AveragesThis indicator displays the percentage of NSE (India) stocks trading above key moving averages.
Market breadth measures the degree of participation & the conviction in the overall mood of the underlying index. A positive market breadth is said to happen when more stocks are advancing than are declining. Among many ways to measure this, one simple way is the % of stocks trading above a certain moving average. When most of the stocks are trading above a specific moving average, the market breadth is termed strong.
This script uses 10-day & 20-day EMA for short-term timeframes, & 50-day & 200-day EMA for medium to long-term timeframes.
Default Mode
We have a bullish bias when >50% of stocks are above their 50-day and 200-day MAs. We have a bearish bias when <50% of stocks are above their 50-day and 200-day MAs.
We also look at short-term timeframes (10 & 20 MA) for overbought and oversold levels. Values above 80% are considered overbought and readings below 20% are deemed oversold .
Individual Moving averages, & the table also, can be turned off.
Oversold/overbrought market breadth does not necessarily indicate reversal, but rather an exhaustion. This can get resolved by either a price correction or a time correction. The breadth can remain in overbought zones for a long time while the price is in a strong uptrend — and equally so at oversold zones during a strong downtrend.
Moving Average of Market Breadth
Turning-on the MA of breadth displays the 50-day Moving Average of the % of stocks above the 50-day Moving Average.
This is another way to visualise a smoothed version of the market breadth. If the % of stocks above the 50-day Moving Average is above its own 50-day Moving Average, then we can say that the breadth is strong.
Mini Mode
Turning on the mini-mode converts the table into a 4-color block, with the blocks reflecting the status of 10, 20, 50 & 200 MAs respectively, from top to bottom.
Text Mode
Turning on the text-mode converts the percentage numbers in the table into 1-word text descriptions.
Dependency:
The script uses the Pine Seeds service to import custom data hosted in a GitHub repository and accesses it via TradingView as the frontend. So, the number of bars appearing on charts is fully dependent on the amount of historical data available. Any error or omission, if there, is a reflection of the hosted data, & not that of TradingView.
Limitations:
Such data has some limitations, like it can only be updated at EOD (End-of-Day), & only daily-based timeframes can be applied to such data. Irrespective of the intraday changes, only the last saved value on the chart is seen. So, it's best to use this script as EOD, rather than intraday.
At the time of publication of this script, historical data was available till the year 2004.
The universe of stocks chosen for the data is all stocks with latest Close >= 1 and Market Cap > 10.
Credits:
NSE Market Breadth data is from Chhirag_Kedia , & the Pine seeds are courtesy of EquityCraze
NSE Net New HighsThis indicator displays the net number of stocks on NSE (India) making 52-week highs or lows. The count is displayed as a fraction of the total number of stocks in the NSE universe.
Net New Highs (NNH) are calculated by taking the number of new 52-week highs on any given day and subtracting from it the number of new 52-week lows. A market is considered strong (bullish) when NNH are positive, or, in other words, when new highs exceed new lows.
⦿ Background highlight : We consider the bias as positive (bullish) when NNH stays positive for 3 consecutive days, & negative (bullish) when NNH stays negative for 3 consecutive days. Positive bias is highlighted with a green background. Negative bias is highlighted with a red background.
⦿ Moving Average : Another way to decrease whipsaws in analysing positive or negative NNH can be by smoothing them with a moving average. The script uses a 10-day SMA (user can modify this) of NNH. The bias is bullish when the smoothed NNH line is positive and bearish when negative.
⦿ Table: There is an option to display, in a table, the number of stocks making new 52-week highs and new 52-week lows separately. This helps in understanding which of the two metrics is responsible for the other overall net score.
Dependency:
The script uses the Pine Seeds service to import custom data hosted in a GitHub repository and accesses it via TradingView as the frontend. So, the number of bars appearing on charts is fully dependent on the amount of historical data available. Any error or omission, if there, is a reflection of the hosted data, & not that of Tradingview.
Limitations:
Such data has some limitations, like it can only be updated at EOD (End-of-Day), & only daily-based timeframes can be applied to such data. Irrespective of the intraday changes, only the last saved value on the chart is seen. So, it's best to use this script as EOD, rather than intraday.
At the time of publication of this script, historical data was available till the year 2004.
Credits:
NSE Market Breadth data is from Chhirag_Kedia , & the Pine seeds are courtesy of EquityCraze
The script concept & colors are based on CarusoInsights 's NNH script for US markets , & Fred6724 's open-source version of that script.
CSC_Macchiato Price Trend Oscillator by CoffeeShopCryptoDescription:
Introducing "The Macchiato" – your go-to indicator in the realm of trading, meticulously crafted by CoffeeShopCrypto. Much like the complex flavors of a well-made Macchiato, this tool offers a robust suite of functionalities designed to enhance your trading experience across Forex, stocks, and cryptocurrencies.
The Macchiato stands out for its distinct ability to confirm market trends, identify building momentum, and navigate through periods of market stalls. Drawing cues from the RSI (Relative Strength Index), its color scheme dynamically reflects the shifts in market forces, providing traders with real-time insights into price action dynamics.
Gone are the days of navigating through market uncertainties blindly. With The Macchiato at your disposal, you gain a more clear understanding of market movements, helping you to make informed decisions with confidence. Whether you're a seasoned trader or just starting out, this indicator adds more confluence to your trading strategy, ensuring that you stay ahead of the curve in today's fast-paced trading environment.
So, say goodbye to guesswork and hello to precision trading with The Macchiato – where real-time data analysis meets actionable insights, all in the quest for trading success.
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The Histogram:
The Macchiato Histogram gives you a representation of current change in closing values against the closing values within a "Range" of the lookback period. It calculates your price ranging extremes of the highest high vs lowest low according to your lookback setting. Then it shows you whether the momentum of these closing prices calculated against the highs or the lows is either rising or falling. It takes into account the difference in the highs, lows, open and closing prices as a whole. This helps to determine the actual trend of your market structure.
Histogram Rising / Falling:
The Histogram of the Macchiato doesn't care about being above or below zero. Since we are simply calculating momentum rising or falling, then we only care that the histogram is rising or falling. Especially when it's doing this in line with our Macchiato Average.
Macchiato Average:
Included is a smoothing line called "the Macchiato Average"
Using the average is just like using a moving average against price action, however here we are using one against momentum to determine whether price is moving against, with, better, or worse than the current average of momentum.
The RSI:
The base purpose of the RSI in this tool is mainly to color the columns of the Histogram.
I gave you the benefit of exposing the RSI so you can see where it lies in the oscillator for any additional strategies you may use.
How the RSI Colors the Histogram:
The Histogram has 4 momentum colors and 1 non-momentum color.
They are described below but here we will understand why they exist the way they do against the RSI positioning.
The 4 momentum colors:
You can have the RSI in 4 different positions against its moving average.
Trend Trading Colors and setups:
Strong Long - RSI above zero and above its average is a strong long trend.
Strong Short - RSI below zero and below its average is a strong short trend.
These can also be seen as breakout indications.
Counter Trend Trading and Setups:
Weak Long - RSI above zero and below its average is a weak long trend.
Weak Short - RSI below zero and above its average is a weak short trend.
(Only trade weak momentum to known internal support and resistance areas.)
You'll notice that when the RSI is set up against its RSI Moving average under these conditions, the Histogram is colored accordingly to tell you whether you have strong or weak momentum.
For these colors to appear accordingly, the RSI and the momentum of the histogram must be moving in the same direction as each other.
The 5th color of the Histogram:
(GRAY)
This is where there is a divergence / disagreement between your RSI setup and the momentum being observed. If momentum is moving one way and the force of the RSI is not matching the overall momentum, you have a divergence. This commonly means that higher timeframe momentum is in disagreement to lower or current timeframe closing momentum changes.
Conditions of a Bullish Trending Market:
The color scheme has specific implications when all columns are above zero.
As noted before, the Macchiato doesn't care that it is above or below zero. It simply needs to be rising or falling. The color scheme is depicted by what the RSI is doing in relation to ZERO and where it lies against its average.
This image helps to differentiate what is happening with momentum when in a strong bullish market.
The color scheme is always the same. You always have 4 conditions of momentum.
According to the default settings:
Strong Long = Dark Green
Weak Long = Light Green
Strong Short = Dark Red
Weak short = Light Red
The final color is GRAY which is standard for a NON directional market.
You can alter the colors as you choose for your chart background and color preference.
Macchiato Bias Line Conditions
The "Bias Line" helps you understand whether your current momentum is traveling into opposing forces or if your momentum is going WITH the bias.
Going against the bias would be like momentum and price action converging against each other.
Going in the same direction would offer much larger movements on price.
Using the Bias to trade
Trading Internal Support and Resistance
Noting previous price action, pivots, and price swings is important in its use.
When you see momentum coming to a halt or changing, note the previous price action that you are approaching. You should see the histogram change its color, telling you where momentum is ending in its current direction.
EXAMPLE BULLISH MARKET FLIP
There is the exception however that when the market flips, from bearish to bullish, you can see the following:
BIAS LINE switches to a Bullish Bias
Histogram is showing Strong Long Color
Histogram stays ahead of the BIAS line
Price should break previous swing highs to create new highs.
Strategy you can use in observance. (short pause, to pullback, to continued short)
If the momentum is rising while RSI is falling you'll have gray columns until the RSI is in the correct positions against its average.
For your trend to continue downward you are looking for dark red or "Strong Short" columns.
When there is a disagreement, your columns will be gray and then switch to weak long. (Light Green)
This is because your RSI is above its average while the RSI is bearish.
This light green area can be observed as the pullback area.
If you only want to trade short, you would wait for the pullback to be complete.
This occurs when the weak long changes back to gray and then strong short, or skipping gray into strong short.
NSE + BSE Volume with Relative Volume Multiplier By AfnanIntroducing the Combined NSE + BSE Volume Indicator with Relative Volume indicator (CRVI).
The Combined NSE + BSE Volume Indicator with Relative Volume Multiplier (CRVI) is an essential tool for Indian traders who are engaged in volume breakout analysis, particularly breakout traders.
Key Features of CRVI:
Combining NSE and BSE Volume: The CRVI consolidates volume data from both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) into a single chart, ensuring that traders do not miss out on vital volume data from either exchange.
Understanding Operator Activity: This indicator gives traders the advantage of identifying whether operators or smart investors are building positions in either exchange. For instance, while observing an NSE stock chart, traders can now identify if operators are building positions in BSE stocks as well.
Add-on to Relative Volume / Volume Breakout Multiplier (RVI) Indicator: The CRVI is an additional feature integrated into the Relative Volume / Volume Breakout Multiplier (RVI) indicator, providing an enhanced perspective on volume dynamics.
Usage of CRVI:
Quantifying Volume Breakouts: The indicator quantifies the degree of volume breakouts concerning the Simple Moving Average (SMA), facilitating a clearer understanding of the strength of volume breakouts.
Relative Volume Interpretation: By comparing the current volume with the volume SMA, the CRVI delivers a breakout number, such as 2.0 for double the volume SMA or 0.50 for half the volume SMA. This assists traders in gauging the momentum and potential trading opportunities more effectively.
Advantages for Traders:
Enhanced Volume Analysis: Breakout traders, in particular, will find the CRVI invaluable for identifying potential trading opportunities and assessing volume strength more accurately.
Essential Toolkit Inclusion: Traders focusing on volume breakout analysis can benefit significantly from incorporating this indicator into their trading toolkit.
Embracing Continuous Improvement:
Every tool and analysis utilized contributes to the ongoing process of becoming more adept traders. Embracing continuous learning and improvement is the foundation of successful trading. As we move forward, armed with the right tools and mindset, we eliminate the doubts of today and pave the way for a more confident tomorrow.
Gratitude :
Your support, likes, and comments are deeply appreciated. If you have any questions, do not hesitate to reach out. Let's work together to make trading an enriching experience!
Previous Day High Low Close By Anil ChawraHow Users Can Make Profit Using This Script:
1. Calculate the difference between the previous day's high and low prices to determine the price range.
2. Identify if today's close price is significantly higher or lower than the previous day's close price.
3. If today's close price is at least 10 points higher than the previous close, consider a potential buy signal.
4. If today's close price is at least 10 points lower than the previous close, consider a potential sell signal.
5. These signals indicate potential profit opportunities based on significant price movements.
6. Users should verify market conditions and perform additional analysis before executing trades.
7. Monitoring price action and volume can help confirm the validity of these signals.
8. Implementing stop-loss orders can help mitigate risks associated with trading based on price movements.
9. Regularly reviewing and adjusting trading strategies based on market conditions is essential for long-term success.
10. Exercise caution and discipline when trading, and consider seeking advice from financial professionals if needed.
How the Script Works:
1. The strategy analyzes the high, low, and close prices of the previous trading day.
2. It calculates the range of prices by subtracting the low from the high.
3. The close price of the current trading day is compared to the previous day's close.
4. If today's close is significantly higher than yesterday's close, it could indicate bullish sentiment.
5. Conversely, if today's close is significantly lower, it could suggest bearish sentiment.
6. A threshold, typically 10 points, is set to identify significant price movements.
7. If today's close is at least 10 points higher, it triggers a potential buy signal.
8. If it's at least 10 points lower, it triggers a potential sell signal.
9. Users can act on these signals to enter or exit trades for potential profit.
10. Regular monitoring, risk management, and market analysis are essential for effective implementation of this strategy.
EMA 9/13/18/25 + Bollinger BandThe indicator combines two components: Exponential Moving Averages (EMAs) and Bollinger Bands.
Exponential Moving Averages (EMAs): The indicator calculates four EMAs with different periods: 9, 13, 18, and 25. An Exponential Moving Average is a type of moving average that places a greater weight and significance on the most recent data points. As the name suggests, it's an average of the asset's price over a certain period, with recent prices given more weight in the calculation, making it more responsive to recent price changes.
Bollinger Bands: Bollinger Bands consist of a simple moving average (the basis) and two standard deviations plotted away from it. The standard deviations are multiplied by a factor (usually 2) to determine the distance from the basis. These bands dynamically adjust themselves based on recent price movements. The upper band represents the highest price level reached in the given period, while the lower band represents the lowest price level.
Combining these components provides traders with insights into both trend direction and volatility. The EMAs help identify trends by smoothing out price data, while the Bollinger Bands offer insights into volatility and potential price reversal points. Traders often use the crossovers of EMAs and interactions with Bollinger Bands to make trading decisions. For example, when the price touches the upper Bollinger Band, it may indicate overbought conditions, while touching the lower band may suggest oversold conditions. Additionally, crossovers of EMAs (such as the shorter-term EMA crossing above or below the longer-term EMA) may signal changes in trend direction.
QuarterCandlesChanges candle color when close is within the top 25% or bottom 25% of candle range (High - Low) on the last candle update.
Due to limitations of barcolor command, I'd suggest that you turn OFF the candle borders (chart settings--> right click on chart --> settings -->symbol and uncheck the border option) to ensure that the bar color is easily identifiable.
EMA 20/50/100/200 [NT-DIGITALS]This script plots Exponential Moving Averages (EMA) of 20, 50, 100, and 200 periods on the chart. EMAs are commonly used by traders to identify trends and potential reversal points in the market. The EMA smooths out price data to create a single line that follows the overall trend more closely than a simple moving average. By plotting multiple EMAs of different periods, traders can observe the interaction between short-term and long-term trends, aiding in decision-making for entry and exit points.
Exponential Moving Average (EMA) is a type of moving average that gives more weight to recent price data, making it more responsive to current price movements compared to a simple moving average (SMA). The EMA is calculated by applying a smoothing factor to the previous EMA value and adding a fraction of the difference between the current price and the previous EMA value. This weighting mechanism results in EMAs reacting more quickly to price changes, making them popular for traders looking to capture short-term trends in the market.
C.S.S.R_RYU INDICATOR단기 STO_MTM, 중기 STO_MTM, CCI & RSI를 계산하여 차트에 반영하는 보조지표
설명:
단기 STO_MTM(스토캐스틱 모멘텀) (5,3)과 중기 STO_MTM (14,3)로 현재 차트의 단기 진행 방향성을 파악하고,
CCI와 RSI 보조지표를 통해 현재 구간은 과매수 혹은 과매도 구간인지 파악 후,
해당 신호들이 모두 해당될 때, 시그널을 플로팅 하는 보조지표
BUY SIGNAL: 단기 Sto_mtm과 중기 Sto_mtm이 동시에 -40이하이면서, CCI가 -100이하, RSI가 30이하일 때
초록색 십자가로 표시
SELL SIGNAL: 단기 Sto_mtm과 중기 Sto_mtm이 동시에 40이상이면서, CCI가 100이상, RSI가 70이상일 때
빨간색 십자가로 표시
(4개의 지표중 하나라도 해당되지 않으면 표시 X)
사용 방법:
시그널의 직관성을 위해 설정에서 RSI에 관한 설정을 제외하고 전부 안보이게 설정(이유: STO_MTM과 CCI보다 RSI의 그래프가 훨씬 직관적이기 때문)
기본적으로 시간대가 클수록 해당 시그널의 신뢰도가 올라간다고 생각함, 4시간>1시간>30분>15분 이런식으로 신뢰도가 올라가지만,
초단기 (1,5,15분봉)에서도 과매도, 과매수 구간을 캐치하는데 시각적으로 직관적이게 만듦.
사용예시:
4시간봉, 1시간봉에서 현재 진행 추세 확인 후, 큰 프레임(일봉,4시간봉)에서 상승 추세일 경우 짧은 시간 프레임(1시간,15분,5분)에서 해당 시그널이 발생했을 때 진입
Short-term STO_MTM, medium-term STO_MTM, CCI & RSI auxiliary indicators reflecting calculations on the chart.
Description:
Calculates short-term STO_MTM (5,3) and medium-term STO_MTM (14,3) to determine the short-term directional bias of the current chart. Utilizes CCI and RSI auxiliary indicators to identify whether the current range is overbought or oversold. When all signals are met, plots a signal indicator.
BUY SIGNAL: Indicates a green cross when both short-term STO_MTM and medium-term STO_MTM are below -40 simultaneously, with CCI below -100, and RSI below 30.
SELL SIGNAL: Indicates a red cross when both short-term STO_MTM and medium-term STO_MTM are above 40 simultaneously, with CCI above 100, and RSI above 70.
(If none of the four indicators meet the criteria, no signal is plotted.)
how to use:
For clarity of signals, exclude all settings related to RSI from the settings menu. Reason being, the graph of RSI is much more intuitive compared to STO_MTM and CCI.
Generally, the higher the timeframe, the higher the reliability of the signal. Confidence in the signal increases as follows: 4-hour > 1-hour > 30-minute > 15-minute. However, designed to visually capture overbought and oversold zones even in short-term (1, 5, 15-minute candles).
Example of use:
Confirm the current trend on 4-hour and 1-hour candles. If there is an uptrend in larger time frames (daily, 4-hour), consider entry when the signal occurs on shorter time frames (1-hour, 15-minute, 5-minute).
Murrey Math
The Murrey Math indicator is a set of horizontal price levels, calculated from an algorithm developed by stock trader T.J. Murray.
The main concept behind Murrey Math is that prices tend to react and rotate at specific price levels. These levels are calculated by dividing the price range into fixed segments called "ranges", usually using a number of 8, 16, 32, 64, 128 or 256.
Murrey Math levels are calculated as follows:
1. A particular price range is taken, for example, 128.
2. Divide the current price by the range (128 in this example).
3. The result is rounded to the nearest whole number.
4. Multiply that whole number by the original range (128).
This results in the Murrey Math level closest to the current price. More Murrey levels are calculated and drawn by adding and subtracting multiples of the range to the initially calculated level.
Traders use Murrey Math levels as areas of possible support and resistance as it is believed that prices tend to react and pivot at these levels. They are also used to identify price patterns and possible entry and exit points in trading.
The Murrey Math indicator itself simply calculates and draws these horizontal levels on the price chart, allowing traders to easily visualize them and use them in their technical analysis.
HOW TO USE THIS INDICATOR?
To use the Murrey Math indicator effectively, here are some tips:
1. Choose the appropriate Murrey Math range : The Murrey Math range input (128 by default in the provided code) determines the spacing between the levels. Common ranges used are 8, 16, 32, 64, 128, and 256. A smaller range will give you more levels, while a larger range will give you fewer levels. Choose a range that suits the volatility and trading timeframe you're working with.
2. Identify potential support and resistance levels: The horizontal lines drawn by the indicator represent potential support and resistance levels based on the Murrey Math calculation. Prices often react or reverse at these levels, so they can be used to spot areas of interest for entries and exits.
3. Look for price reactions at the levels: Watch for price action like rejections, bounces, or breakouts at the Murrey Math levels. These reactions can signal potential trend continuation or reversal setups.
4. Trail stop-loss orders: You can place stop-loss orders just below/above the nearest Murrey Math level to manage risk if the price moves against your trade.
5. Set targets at future levels: Project potential profit targets by looking at upcoming Murrey Math levels in the direction of the trend.
7. Adjust range as needed: If prices are consistently breaking through levels without reacting, try adjusting the range input to a different value to see if it provides better levels.
In which asset can this indicator perform better?
The Murrey Math indicator can potentially perform well on any liquid financial asset that exhibits some degree of mean-reversion or trading range behavior. However, it may be more suitable for certain asset classes or trading timeframes than others.
Here are some assets and scenarios where the Murrey Math indicator can potentially perform better:
1. Forex Markets: The foreign exchange market is known for its ranging and mean-reverting nature, especially on higher timeframes like the daily or weekly charts. The Murrey Math levels can help identify potential support and resistance levels within these trading ranges.
2. Futures Markets: Futures contracts, such as those for commodities (e.g., crude oil, gold, etc.) or equity indices, often exhibit trading ranges and mean-reversion trends. The Murrey Math indicator can be useful in identifying potential turning points within these ranges.
3. Stocks with Range-bound Behavior: Some stocks, particularly those of large-cap companies, can trade within well-defined ranges for extended periods. The Murrey Math levels can help identify the boundaries of these ranges and potential reversal points.
4. I ntraday Trading: The Murrey Math indicator may be more effective on lower timeframes (e.g., 1-hour, 30-minute, 15-minute) for intraday trading, as prices tend to respect support and resistance levels more closely within shorter time periods.
5. Trending Markets: While the Murrey Math indicator is primarily designed for range-bound markets, it can also be used in trending markets to identify potential pullback or continuation levels.
Taylor True Ranges - deviationsDescription:
The Taylor True Ranges - Deviations indicator in Pine Script 5.0 computes various price levels and averages based on Taylor's trading principles. It provides insights into potential buying and selling opportunities by analyzing deviations from average price movements. The indicator calculates and visualizes critical levels such as Decline Average, Buying Under Average, Pivot Brake Sell, Rally Average, Buying High Average, and Pivot Brake Buy. These levels are derived from historical price data and help traders identify key support and resistance zones, trend reversals, and breakout points.
Key Features:
Taylor's Trading Principles: The indicator implements Taylor's methodology to analyze price movements and identify trading opportunities based on deviations from average ranges.
Multiple Price Levels: It calculates and displays various price levels, including Decline Average, Buying Under Average, Pivot Brake Sell, Rally Average, Buying High Average, and Pivot Brake Buy.
Customizable Visualization: Traders can customize the visualization by toggling the display of individual price levels and adjusting the appearance settings such as line style, color, and text size.
Daily Lookback: The indicator supports a customizable daily lookback period, allowing traders to analyze historical price movements over a specified timeframe.
Usage:
Apply the Taylor True Ranges - Deviations indicator to your chart to analyze deviations from average price movements and identify potential trading opportunities.
Customize the indicator settings, including the daily lookback period, line style, color, and text size, to suit your trading preferences and analysis requirements.
Use the calculated price levels and averages as part of your technical analysis to make informed trading decisions, including identifying support and resistance levels, trend reversals, and breakout points.
Example:
Traders can use the Taylor True Ranges - Deviations indicator to analyze deviations from average price movements and identify key support and resistance levels. For instance, observing a Pivot Brake Sell level crossing above the current price might indicate a potential selling opportunity, while a Pivot Brake Buy level crossing below the price could signal a buying opportunity.
Market Internals & InfoThis script provides various information on Market Internals and other related info. It was a part of the Daily Levels script but that script was getting very large so I decided to separate this piece of it into its own indicator. I plan on adding some additional features in the near future so stay tuned for those!
The script provides customizability to show certain market internals, tickers, and even Market Profile TPO periods.
Here is a summary of each setting:
NASDAQ and NYSE Breadth Ratio
- Ratio between Up Volume and Down Volume for NASDAQ and NYSE markets. This can help inform about the type of volume flowing in and out of these exchanges.
Advance/Decline Line (ADL)
The ADL focuses specifically on the number of advancing and declining stocks within an index, without considering their trading volume.
Here's how the ADL works:
It tracks the daily difference between the number of stocks that are up in price (advancing) and the number of stocks that are down in price (declining) within a particular index.
The ADL is a cumulative measure, meaning each day's difference is added to the previous day's total.
If there are more advancing stocks, the ADL goes up.
If there are more declining stocks, the ADL goes down.
By analyzing the ADL, investors can get a sense of how many stocks are participating in a market move.
Here's what the ADL can tell you:
Confirmation of Trends: When the ADL moves in the same direction as the underlying index (e.g., ADL rising with a rising index), it suggests broad participation in the trend and potentially stronger momentum.
Divergence: If the ADL diverges from the index (e.g., ADL falling while the index is rising), it can be a warning sign. This suggests that fewer stocks are participating in the rally, which could indicate a weakening trend.
Keep in mind:
The ADL is a backward-looking indicator, reflecting past market activity.
It's often used in conjunction with other technical indicators for a more complete picture.
TRIN Arms Index
The TRIN index, also called the Arms Index or Short-Term Trading Index, is a technical analysis tool used in the stock market to gauge market breadth and sentiment. It essentially compares the number of advancing stocks (gaining in price) to declining stocks (losing price) along with their trading volume.
Here's how to interpret the TRIN:
High TRIN (above 1.0): This indicates a weak market where declining stocks and their volume are dominating the market. It can be a sign of a potential downward trend.
Low TRIN (below 1.0): This suggests a strong market where advancing stocks and their volume are in control. It can be a sign of a potential upward trend.
TRIN around 1.0: This represents a more balanced market, where it's difficult to say which direction the market might be headed.
Important points to remember about TRIN:
It's a short-term indicator, primarily used for intraday trading decisions.
It should be used in conjunction with other technical indicators for a more comprehensive market analysis. High or low TRIN readings don't guarantee future price movements.
VIX/VXN
VIX and VXN are both indexes created by the Chicago Board Options Exchange (CBOE) to measure market volatility. They differ based on the underlying index they track:
VIX (Cboe Volatility Index): This is the more well-known index and is considered the "fear gauge" of the stock market. It reflects the market's expectation of volatility in the S&P 500 index over the next 30 days.
VXN (Cboe Nasdaq Volatility Index): This is a counterpart to the VIX, but instead gauges volatility expectations for the Nasdaq 100 index over the coming 30 days. The tech-heavy Nasdaq can sometimes diverge from the broader market represented by the S&P 500, hence the need for a separate volatility measure.
Both VIX and VXN are calculated based on the implied volatilities of options contracts listed on their respective indexes. Here's a general interpretation:
High VIX/VXN: Indicates a high level of fear or uncertainty in the market, suggesting investors expect significant price fluctuations in the near future.
Low VIX/VXN: Suggests a more complacent market with lower expectations of volatility.
Important points to remember about VIX and VXN:
They are forward-looking indicators, reflecting market sentiment about future volatility, not necessarily current market conditions.
High VIX/VXN readings don't guarantee a market crash, and low readings don't guarantee smooth sailing.
These indexes are often used by investors to make decisions about portfolio allocation and hedging strategies.
Inside/Outside Day
This provides a quick indication of it we are still trading inside or outside of yesterdays range and will show "Inside Day" or "Outside Day" based upon todays range vs. yesterday's range.
Custom Ticker Choices
Ability to add up to 5 other tickers that can be tracked within the table
Show Market Profile TPO
This only shows on timeframes less than 30m. It will show both the current TPO period and the remaining time within that period.
Table Customization
Provided drop downs to change the text size and also the location of the table.
Broad market index / quantifytools- Overview
Broad market index is a market breadth based oscillator, depicting broad market trend by analysing ratio between symbols moving up and symbols moving down in a given market. When market breadth is positive, more symbols are going up and when negative, more symbols are going down. As markets tend to correlate, broad market trend dictates likely path for all individual symbols that make up the market.
This tool provides market breadth for US equities (based on NYSE advancers - decliners) and ability to build two custom breadth baskets with up to 39 symbols included in each. Market breadth can be customized with variety of smoothing options, weighting and threshold modes to find most optimal rules for trend following. Performance of the model is reflected on metrics showing percentage of up/down moves during bullish/bearish states.
Example
↑ 63% = 63% of price moves during positive breadth state are to the upside
↓ 59% = 59% of price moves during negative breadth state are to the downside
Breadth state is colorized on line and chart according to its state (negative/positive/equilibrium) and direction (trending up/down). Upper and lower bands depict historical turning points in breadth for identifying extremes in broad market trend. Triangles mark breadth thrusts, in other words abnormally large moves in breadth at either upper or lower extreme. Breadth thrusts can serve as early signs of broad market trend reverting.
- Concept and features
By default, market breadth is calculated based on NYSE advancers - decliners, usable for all major indices that depict broad markets in US equities (SP500, QQQ, IWM). Users can also build 2 custom breadth baskets consisting of up to 39 symbols for defining broad market on other asset classes, such as cryptocurrencies. Custom baskets are suitable for any chart that fairly represents a market as a whole.
Example
Basket consisting of cryptocurrencies = Use on CRYPTOCAP:TOTAL (all cryptocurrencies aggregated)
Basket consisting of healthcare stocks = Use on AMEX:XLV (healthcare sector ETF)
Breadth line can be further refined using various smoothing options (SMA, EMA, HMA, RMA, WMA), threshold method and weights. By default, threshold (dividing line between bullish and bearish states) is set to fixed at 0, depicting an equilibrium where equal amount of symbols are going up and down.
Threshold mode can also be set to Dynamic, switching threshold to a moving average of the breadth line. Fundamental functionality still remains, breadth line above threshold marks bullish state and below threshold marks bearish state. Difference here is that the threshold no longer depicts a point of equilibrium, but simply a smoothed version of the breadth line itself, which can catch turns in broad market trend earlier.
Breadth basket can be adjusted to volatility of the viewed chart, causing an overstating of breadth on high volatility and understating on low volatility. Weighting takes into account magnitude of up/down moves, which can provide better relevance for trend following purposes.
- Practical guide
Example #1 : Broad market trend
The utility of market breadth is based on the idea that markets correlate and individual symbols making up the market will eventually join the broad market trend. With this in mind, going against broad market is like swimming upstream, it's going to be the hard way. A well performing basket with clear skew for upside and downside on respective breadth states can be used to form directional bias for trades and risk on/off regimes for investing.
Example #2 : Broad market reversals
Thrusts signify two things: a historical extreme in breadth and an aggressive move to the opposite direction. Thrusts are valuable clues for exhaustion in broad market trend, potentially leading to a reversal.
Example #3 : Breadth/price divergences
Market breadth and price diverging signify events where most symbols that make up the market are going one way but a few high weight symbols (big tech for SP500) are going the other way. In other words, only a few symbols are moving the market while general interest and intention is to the other direction. Divergences in breadth and price are not ideal for sustainable trend and can be expected to eventually revert to the direction of broad market.
Price and Volume Stochastic Divergence [MW]Introduction
This indicator creates signals of interest for entering and exiting long and short positions on equities. It primarily uses up and down trends defined by the change in cumulative volume with some filtering provided by a short period exponential moving average (9 EMA by default).
Settings
Moving Average Period : The moving average over which the cumulative volume delta is calculated. Default: 14
Short Period EMA : The EMA used to represent price action, and is used to generate the EMA Delta line. Default: 27 (3*3*3)
Long Period EMA : The second EMA used to calculate the EMA Delta line. Default: 108 (2*2*3*3*3)
Stochastic K Value : The value used for stochastic curve smoothing. Default: 3
Dot Size : The diameter of the larger indicator. Default: 10
Dot Transparency : The transparency level of the outer ring of the primary BUY/SELL signal. Default: 50 (0 is opaque, 100 is transparent)
Band Distance from 0 to 100 : The upper and lower band distance. Default: 20
Calculations
The cumulative volume delta (CVD) is calculated using candle bodies and wicks. For a red candle, buying volume is calculated by multiplying the volume by the spread percentage of the average of the top and bottom wicks, while Selling Volume is calculated multiplying the volume by the spread percentage of the average of the top and bottom wicks - in addition to the spread percentage of the candle body.
For a green candle, buying volume is calculated by multiplying the volume by the spread percentage of the average of the top and bottom wicks - plus the spread percentage of the candle body - while Selling Volume is calculated using only the spread percentage average of the top and bottom wicks.
Once we have the CVD, we can then perform a stochastic calculation of the CVD value.
stochastic calculation = (current value - lowest value in period) / (highest value in period - lowest value in period)
We’ll do the same stochastic calculation for the short term EMA (27 EMA default) as well as for the difference between the short term and long term EMA.
When the stochastic CVD value is rising from zero and the short term EMA stochastic value equals 100, then it’s a major bullish signal. When the stochastic CVD value is falling from 100 and the short term EMA stochastic value equals 0, then it’s a major bearish signal.
Sometimes, after a bullish or bearish signal, the stochastic CVD will reverse direction triggering a new opposing signal.
How to Interpret
The CVD indicates when there is either more buying than selling or vice versa. A value over 50 for the stochastic CVD curve represents more buying taking place. A value below 50 represents more selling. One might intuitively believe that when there is more buying volume than selling volume that the price would follow suit. This is not always the case.
Most of the time buying volume will precede consistent price movement upwards, and selling volume will precede consistent price movement downwards. When this divergence occurs, the indicator generates a signal. When this divergence begins to fail, and buying or selling volume reverses, then another signal is generated indicating that the buying/selling impulse is headed back into the direction of price action.
These interactions are visually represented on the chart with the coral line that represents CVD, and the yellow line that represents the EMA, or the average price. When the coral line goes up and the yellow line stays down, that’s the BUY signal. When the coral line goes down and the yellow line stays up, that’s the sell signal. When the coral line switches direction, the chart generates another signal showing that volume is moving in a direction that supports the price.
The orange line represents the stochastic representation of the difference between the short EMA (27 by default) and the long EMA (108 by default). EMA differences is a method that can be used to define a trend. When a short term EMA is above a longer term EMA, that may represent a bullish trend. When it is below, that may represent a bearish trend. When all 3 lines are rising or falling in the same direction at the same time, it tends to indicate a movement that has the potential to continue.
Other Usage Notes and Limitations
It's important for traders to be aware of the limitations of any indicator and to use them as part of a broader, well-rounded trading strategy that includes risk management, fundamental analysis, and other tools that can help with reducing false signals, determining trend direction, and providing additional confirmation for a trade decision. Diversifying strategies and not relying solely on one type of indicator or analysis can help mitigate some of these risks.
This indicator can be paired with the MW Volume Impulse indicator if it is desired to see the actual buying and selling cumulative volume deltas. Also, in many cases, the BUY and SELL signals tend to correspond with Keltner Bands (ATR Bands) becoming extended. Lastly, volume weighted average price (VWAP) along with other macro events can impact price and negate signals. To view VWAP lines, you may choose to use the Multi VWAP or Multi VWAP for Gaps indicator to help ensure that the signals you see in this indicator are not being affected by VWAP lines.
On Balance Volume WaveIntroducing an Enhanced Version of the Classic OBV Indicator
The On-Balance Volume (OBV) indicator is a well-known tool among traders, celebrated for its ability to track momentum by using volume flow to predict changes in stock price. For an overview of the original OBV indicator, please visit: www.tradingview.com .
What Makes This Version Different?
This enhanced version of the OBV indicator incorporates advanced signal processing techniques to bring new depth to market analysis. Here's what sets it apart:
Standard Deviation Bands and EMAs: These additions to the OBV offer a visual representation of significant market movements—highlighting major pumps and dumps, as well as identifying potential support and resistance levels.
Color-Coded Insights: The standard deviation bands utilize color coding based on signal processing principles. This feature becomes increasingly useful the more you zoom out, making it easier to observe and interpret market waves.
Market Maker Activity: By examining fluctuations within the standard deviation bands, traders can gauge when Market Makers are actively maneuvering to establish their long and short positions, often at the expense of retail traders.
EMA Support and Resistance: The embedded Exponential Moving Averages (EMAs) serve as dynamic support and resistance levels. Analyzing these can help traders determine the continuing strength of a market move, whether bullish or bearish.
Visual Guide to the Basics
For a clearer understanding of what this enhanced indicator can show, please refer to the image below:
And in addition to all the above one can detect relevant W and M structures way easier with this indicator ;)
Candle Range ExtensionThis script defines an indicator called "Candle Range Extension" that calculates the range of each candle (high minus low) and then multiplies that range by 3 to get the extension distance. It then plots two lines on the chart: one line that extends 3 times the candle range above the candle's high (in green) and another line that extends 3 times the candle range below the candle's low (in red).
Breadth - New Highs & New Lows [bluesky509]Breadth - Highs & Lows Indicator
█ Description: View market highs and lows across various timeframes and exchanges.
█ Key Features:
Moving Averages: Choose from a range of MA types.
Flexible Market/Periods: Analyze different markets and different periods of NH-NL
Hi-Low Mode: Analyze high-low differences or individually
Repaint Control: Toggle between repainting and non-repainting modes to suit your strategy.
Visual Enhancements: Color-coded data visualization for easy interpretation.
█ Usage & Compliance:
Designed for educational and informational purposes, complementing your trading strategy with enhanced market insights.
█ Note:
This indicator is not intended as direct investment advice. It serves as a tool to aid in market analysis and decision-making.
█ CODE
The script is published as a protected code due to the usage of a certain style/formula. While the idea of knowledge sharing is encouraged, certain aspects of the script remain confidential.
Breadth - MTF Cumulative New Highs - New LowsBreadth - MTF Cumulative New Highs - New Lows
📈 Plots cumulative 52W New Highs - New Lows with various timeframes/exchanges.
There are already similar scripts available. This just adds more exchanges and timeframe options.
Key Features :
🔄 Repaint Control: Toggle between repainting and non-repainting modes to align with your trading approach.
📊 Adjustable Timeframes: Fine-tune the timeframe multiplier to fit your analytical needs.
📉 MA Integration: Leverage a Moving Average to identify and follow trends.
🔄 Exchange Selection: Choose from a range of markets for targeted analysis.
Trading with Awareness:
This tool is designed to augment your trading strategy by offering additional insights. It's not a crystal ball for market behavior but a lens to view market dynamics more clearly.
Usage:
Primarily intended for educational and informational purposes. Not to be taken as direct investment advice.
Table SessionIt's a part of a script taken from the lux_Algo indicator and optimized with the BTCUSDT symbol to display the real status of sessions since the crypto market is always open.
Key Features:
Customizable Sessions: Choose from major global financial centers, including New York, London, Tokyo, and Sydney. Customize the parameters for each session according to your preferences.
Intuitive Dashboard: The interactive dashboard displays real-time active and inactive sessions, providing you with an instant overview of the market status.
Automatic Timezone Support: Avoid timezone confusion with automatic exchange timezone support.
Customizable Aesthetics: Tailor the appearance of the table to your style with customization options, whether it's vibrant colors or text sizes.
Easy to Use: No technical expertise required. Simply enable the sessions you want to display and let the script handle the rest.
Why Choose "Table Session":
Time-Saving: Eliminate the time-consuming manual search for trading sessions. Our script does it for you, freeing up your attention for more critical decisions.
Unmatched Decision-Making: Instantly identify prime trading opportunities by understanding which sessions are active and when.
Total Flexibility: Customize the script to your trading style and preferred markets for a tailored trading experience.
ka66: Relative StrengthSimple indicator that allows you to compare the price's series vs. another selected (input) series. The scale is unbounded. If it's rising, that means the chart series is outperforming the compared against series, otherwise it's underperforming it. The compared against series is usually a relevant index, e.g. marketwide like US500, or a sector series, or in the case of currencies, the DXY index.
We color code things, and have the option of adding an average line using several common averaging types.
The chart example shows how the indicator works by showing the it's movement when the AUDUSD close series is compared to the DXY close series.
If AUDUSD moves up strongly, away from/above (or towards if under) the DXY, the indicator rises upward.
If both series are roughly at the same spot, the indicator flattens.
If AUDUSD moves down strongly, away from, below (or towards if over) the DXY, the indicator falls downward.
The basic use is to confirm the validity of an up or down move on the chart, e.g. if the indicator has had 2 to 3 contiguous declines at an inflection point, then the move is likely valid.
There might be divergence signals too, but I haven't checked.
