Bar Outlines [UkutaLabs]█ OVERVIEW
The Bar Outlines indicator will automatically draw bars from higher time frames onto lower time frames, allowing traders to analyse multiple levels of information at a glance. This indicator is intended to assist traders by allowing them to see different depths of the market on one single chart, as well as to improve the clarity of other indicators that mirror higher time frame data.
The purpose of this script is to simplify the experience of users by allowing them to mirror bars from several higher time frame options onto lower time frame charts.
█ USAGE
Users can choose between several different time frames that they would like to have displayed on their lower time frame charts.
The colors of these bars are customizable, allowing users to distinguish between bullish and bearish bars, as well as making it easier to understand which time frame the bars are being mirrored from if they choose to mirror multiple time frames.
The mirrored bars also contain two sections. The main section is a solid section that represents the body of the higher time frame bar, and the secondary section is a border that represents the wick of the higher time frame bar, making it easier for the user to get all the information they need about the higher time frame bar at a glance.
█ SETTINGS
Configuration
- Max Bars to Display: Determines the number of higher time frame bars to draw on the chart. This number is for each higher time frame that the user has enabled, not the total.
5 Minute (Higher Time Frame)
- Display (On/Off): Determines whether bars from the 5 minute chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the 5 minute time frame.
- Bearish Color: Determines the color of bearish bars drawn from the 5 minute time frame.
15 Minute (Higher Time Frame)
- Display (On/Off): Determines whether bars from the 15 minute chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the 15 minute time frame.
- Bearish Color: Determines the color of bearish bars drawn from the 15 minute time frame.
30 Minute (Higher Time Frame)
- Display (On/Off): Determines whether bars from the 30 minute chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the 30 minute time frame.
- Bearish Color: Determines the color of bearish bars drawn from the 30 minute time frame.
60 Minute (Higher Time Frame)
- Display (On/Off): Determines whether bars from the 60 minute chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the 60 minute time frame.
- Bearish Color: Determines the color of bearish bars drawn from the 60 minute time frame.
240 Minute (Higher Time Frame)
- Display (On/Off): Determines whether bars from the 240 minute chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the 240 minute time frame.
- Bearish Color: Determines the color of bearish bars drawn from the 240 minute time frame.
Daily (Higher Time Frame)
- Display (On/Off): Determines whether bars from the daily chart are drawn on the current chart.
- Bullish Color: Determines the color of bullish bars drawn from the daily time frame.
- Bearish Color: Determines the color of bearish bars drawn from the daily time frame.
Multitimeframe
Table Volume MultiframeDescription
The Table Volume Multiframe indicator displays volume information across multiple timeframes in a convenient table format. Users can customize the table's position, size, and the specific timeframes to be displayed. This indicator helps traders analyze volume trends and divergences across different timeframes, providing a comprehensive view of market activity. The table shows the total volume, buy percentage, sell percentage, and a countdown timer for the next bar close for each selected timeframe. The countdown function updates consistently to provide real-time information.
Features
- Customizable table position and size
- Selectable timeframes
- Displays volume, buy percentage, sell percentage
- Countdown timer for next bar close
- Real-time updates
Average price in candlePlots the average price a security had within a candle.
So, for example: If you have a 15m candle, and price stayed near the candle's high for 10 out of the 15 minutes, you would expect the average price top be near the candle's high as well. And that's actually how it is.
(Blue 10:30 candle in the screenshot.)
I think this "average in-candle price" could be a useful thing to know. You can't gather this information from the normal chart (as you would need to go to a lower timeframe). Plus this plot can be smoother than plots of, say, closing price or hl2.
The calculation happens in a lower timeframe which is selected automatically. There is a precision selector which allows you to influence this. By default, at least 10 values are sampled for each candle.
If you have TradingView Premium, the script is able to use second-based intervals to look inside 1m candles. (Tick the corresponding checkbox to enable this.)
How it works: I collect timestamps and hl2 values from the lower timeframe. (I figure hl2 is the best choice here because a close is so arbitrary. If we don't have further information, our guess is the average is simply exactly in the middle of the candle's range.)
Then I throw the last close and current close (from the CHART timeframe) into the mix and calculate an average of the prices we collected weighted by the duration that price was in effect.
tl;dr; It's just math baby
CARNAC Trading Support and Resistance LevelsOverview
The "Carnac Trading Support and Resistance Levels" indicator is a powerful tool designed to help traders identify key support and resistance levels across multiple timeframes. This tool enhances trading strategies by visually marking significant price levels and providing configurable stop-loss and alert features.
Features
Support and Resistance Levels: Automatically calculates and plots support and resistance levels for the following timeframes:
5 minutes (5M)
10 minutes (10M)
15 minutes (15M)
30 minutes (30M)
1 hour (1H)
2 hours (2H)
4 hours (4H)
6 hours (6H)
12 hours (12H)
1 day (1D)
1 week (1W)
1 month (1M)
Configurable Stop-Loss (SL) Levels: Adds a stop-loss line below each support level and above each resistance level with customizable padding (as a percentage).
Visual Labels: Clearly labels support, resistance, and stop-loss levels with the corresponding prices and timeframes for easy identification.
Line Customization:
Support Levels: Green lines with varying thickness based on the timeframe.
Resistance Levels: Red lines with varying thickness based on the timeframe.
Stop-Loss Levels: Gray dotted lines for clear distinction.
Alerts: Alerts trigger when the price gets to a configurable percentage from the support or resistance levels, helping you stay informed about potential buying and selling opportunities.
Visibility Toggling: Easily toggle the visibility of support and resistance levels for each timeframe (default enabled for 2H, 4H, and 1D).
How to Use
Add the Indicator:
Navigate to the TradingView Pine Editor.
Paste the provided Pine Script code and click "Add to Chart."
Configure Inputs:
Lookback Periods: Adjust the lookback periods for each timeframe to suit your analysis needs.
Padding Percentage: Set the padding percentage for the stop-loss levels to define the distance below the support levels and above the resistance levels.
Visibility: Toggle the visibility of the support and resistance levels for each timeframe as needed (default enabled for 2H, 4H, and 1D).
Alert Trigger Distance: Set the alert trigger distance as a percentage to determine when the alerts should be triggered.
Interpret the Plotted Levels:
Green Lines: Indicate support levels for the respective timeframes.
Red Lines: Indicate resistance levels for the respective timeframes.
Gray Dotted Lines: Represent the stop-loss levels below each support level and above each resistance level, with the specified padding.
Labels: Provide clear indications of the price levels and their respective timeframes in white text for visibility.
Identifying Buying and Selling Opportunities:
Buying Opportunities:
Look for the price to approach or bounce off a support level (green line).
Confirm the potential for a reversal by checking if the price is nearing a key support level from multiple timeframes.
Use the stop-loss level (gray dotted line) to set your stop-loss order below the support level to minimize risk.
Selling Opportunities:
Look for the price to approach or get rejected at a resistance level (red line).
Confirm the potential for a reversal by checking if the price is nearing a key resistance level from multiple timeframes.
Use the stop-loss level (gray dotted line) to set your stop-loss order above the resistance level to minimize risk.
Alerts:
Alerts will notify you when the price gets within the specified percentage distance from each support or resistance level.
Use these alerts to stay informed about potential buying and selling opportunities.
True Market Structure {DCAquant}
True Market Structure
Overview
The True Market Structure is a technical analysis tool designed for use across all timeframes. It identifies and visualizes market structure breaks (MSBs) and break of structure (BOS) events, emphasizing interim highs and lows using the "Deroz Wick" system. Unlike many other indicators, this tool does not rely on traditional pivot points, making it a unique addition to any trader's toolkit.
How It Works
The True Market Structure indicator uses a combination of algorithms to detect and highlight significant market structure events. By analyzing price action and identifying key levels, the indicator aids in understanding potential reversal points and trend continuations.
Bull and Bear Market Structures: Differentiates between bullish and bearish market structures, applying distinct color settings for easy visualization.
Customizable Settings: Users can tailor the indicator’s appearance and functionality to their preferences, including toggling lines, labels, and selecting between SWING and INTERIM MS settings.
How our market structure indicator is different
All known market structure indicators work with pivot points. This is a lookback function to find highs and lows within a certain period and then producing market structure.
Our indicator doesn't work like this as the DCAquant True Market Structure finds swing and interim lows and saves it into memory thus giving us the ability to create real market structure breaks and BOS’s.
This is achieved when an MSB or BOS is triggered the script will perform a check through its memory to find previous Interim or swing which ever setting the user has selected.
A saved interim or swing will never change unless it is broken giving you true market structure, this Indicator cannot repaint because it only produces breaks whenever candle is closed.
The next MSB or BOS you see on the chart are the direct function of saved memory points which gives clear indication of true market structure.
Almost 500 lines of code to give you True Market Structure usable on any timeframe.
Key Features
1. Market Structure Breaks (MSBs) and Break of Structure (BOS)
Market Structure Breaks (MSBs): Occur when the price breaks through a previous significant high or low, indicating a potential reversal or continuation of the current trend.
Break of Structure (BOS): Highlights significant breaks in market structure, providing insights into potential trend changes.
2. Visualization Options
Customizable colour settings for both bull and bear market structures, ensuring it integrates with any chart setup.
Options to enable or disable lines and labels for flexible information display.
3. The WICK System
Standard WICK System: Identifies wicks based on standard high/low calculations.
Deroz WICK System: Enhances the standard WICK system by looking back at price history and replacing the standard wick if an even lower or higher wick is found in the subsequent bar.
4. MS Settings
SWING Setting: Sets future MSB events at swing highs/lows, offering a broader market perspective.
INTERIM Setting: Sets future MSB events at interim highs/lows, providing more immediate and frequent market structure updates.
Understanding Market Structure
Market structure is defined by a series of price actions that form recognizable patterns indicating the current trend. Key elements include:
Higher Highs (HH) and Higher Lows (HL): Indicate an uptrend, where each successive high and low is higher than the previous one.
Lower Highs (LH) and Lower Lows (LL): Indicate a downtrend, where each successive high and low is lower than the previous one.
These patterns help traders identify trend direction and potential reversal points. In an uptrend, traders look for higher highs and higher lows to continue, whereas in a downtrend, they look for lower highs and lower lows.
Application in Breakout Trading
Market structure analysis is crucial for breakout trading, where traders seek to capitalize on significant price movements following a break of established price levels.
Uptrend Breakouts: Traders watch for breaks above higher highs as potential entry points for long positions.
Downtrend Breakouts: Traders watch for breaks below lower lows as potential entry points for short positions.
The True Market Structure indicator assists by visually marking these critical levels, simplifying the process of identifying and acting on breakout opportunities.
Visual Representation
Indicator Settings
Standard WICK vs. Deroz WICK System:
Standard WICK
Deroz WICK
SWING MSB
INTERIM MSB
Summary
The True Market Structure indicator provides a clear and detailed view of market structure changes. By highlighting key MSB and BOS events and incorporating advanced wick detection through the Deroz WICK system, this tool can aid in making informed decisions based on a thorough understanding of market dynamics. However DCAquant recommends using this indicator as part of a system.
ALT Trend DetectionALT Trend Detection Indicator
Overview:
The "ALT Trend Detection" indicator is designed to help traders analyze the relationship between Bitcoin's dominance, Bitcoin's price, and the potential impact on altcoin prices. This indicator uses various time frames and average true range (ATR) calculations to detect trends and provide insights into the altcoin market conditions based on Bitcoin's movements.
How It Works:
BTC Dominance and Price Data:
The indicator fetches Bitcoin dominance data (percentage of the total cryptocurrency market cap that Bitcoin represents) and Bitcoin price data using the selected time frame.
It calculates whether Bitcoin dominance and price are trending up, down, or remaining stable based on ATR calculations.
Altcoin Trend Detection:
The indicator then evaluates different scenarios based on the combination of Bitcoin dominance and price movements. These scenarios help predict the potential impact on altcoin prices.
For instance, if Bitcoin dominance is up and Bitcoin price is up, it might indicate a bearish trend for altcoins. Conversely, if Bitcoin dominance is down and Bitcoin price is up, it might indicate a bullish trend for altcoins (altseason).
Table Display:
The indicator displays a table on the chart that summarizes the current conditions for Bitcoin dominance, Bitcoin price, and the expected impact on altcoins. Each cell in the table is color-coded to provide a quick visual representation of the trends.
Usage:
Add the indicator to your TradingView chart.
Customize the time frame, ATR multiplier, table position, table size, and background color as per your preference.
Observe the table displayed on the chart. It shows the current state of Bitcoin dominance, Bitcoin price, and the potential trend for altcoin prices based on predefined scenarios.
Use this information to make informed trading decisions about altcoins. For example, if the table shows "ALT SEASON" in green, it might be a good time to consider investing in altcoins.
By analyzing the interaction between Bitcoin dominance and price, this indicator helps traders identify potential opportunities and risks in the altcoin market.
AlgoBuilder [Trend-Following] | FractalystWhat's the strategy's purpose and functionality?
This strategy is designed for both traders and investors looking to rely on and trade based on historical and backtested data using automation. The main goal is to build profitable trend-following strategies that outperform the underlying asset in terms of returns while minimizing drawdown. For example, as for a benchmark, if the S&P 500 (SPX) has achieved an estimated 10% annual return with a maximum drawdown of -57% over the past 20 years, using this strategy with different entry and exit techniques, users can potentially seek ways to achieve a higher Compound Annual Growth Rate (CAGR) while maintaining a lower maximum drawdown.
Although the strategy can be applied to all markets and timeframes, it is most effective on stocks, indices, future markets, cryptocurrencies, and commodities and JPY currency pairs given their trending behaviors.
In trending market conditions, the strategy employs a combination of moving averages and diverse entry models to identify and capitalize on upward market movements. It integrates market structure-based trailing stop-loss mechanisms across different timeframes and provides exit techniques, including percentage-based and risk-reward (RR) based take profit levels.
Additionally, the strategy has also a feature that includes a built-in probability and sentiment function for traders who want to implement probabilities and market sentiment right into their trading strategies.
Performance summary, weekly, and monthly tables enable quick visualization of performance metrics like net profit, maximum drawdown, compound annual growth rate (CAGR), profit factor, average trade, average risk-reward ratio (RR), and more. This aids optimization to meet specific goals and risk tolerance levels effectively.
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How does the strategy perform for both investors and traders?
The strategy has two main modes, tailored for different market participants: Traders and Investors.
Trading:
1. Trading (1x):
- Designed for traders looking to capitalize on bullish trending markets.
- Utilizes a percentage risk per trade to manage risk and optimize returns.
- Suitable for active trading with a focus on trend-following and risk management.
- (1x) This mode ensures no stacking of positions, allowing for only one running position or trade at a time.
◓: Mode | %: Risk percentage per trade
2. Trading (2x):
Similar to the 1x mode but allows for two pyramiding entries.
This approach enables traders to increase their position size as the trade moves in their favor, potentially enhancing profits during strong bullish trends.
◓: Mode | %: Risk percentage per trade
3. Investing:
- Geared towards investors who aim to capitalize on bullish trending markets without using leverage while mitigating the asset's maximum drawdown.
- Utilizes 100% of the equity to buy, hold, and manage the asset.
- Focuses on long-term growth and capital appreciation by fully investing in the asset during bullish conditions.
- ◓: Mode | %: Risk not applied (In investing mode, the strategy uses 100% of equity to buy the asset)
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What's the purpose of using moving averages in this strategy? What are the underlying calculations?
Using moving averages is a widely-used technique to trade with the trend.
The main purpose of using moving averages in this strategy is to filter out bearish price action and to only take trades when the price is trading ABOVE specified moving averages.
The script uses different types of moving averages with user-adjustable timeframes and periods/lengths, allowing traders to try out different variations to maximize strategy performance and minimize drawdowns.
By applying these calculations, the strategy effectively identifies bullish trends and avoids market conditions that are not conducive to profitable trades.
The MA filter allows traders to choose whether they want a specific moving average above or below another one as their entry condition.
This comparison filter can be turned on (>/<) or off.
For example, you can set the filter so that MA#1 > MA#2, meaning the first moving average must be above the second one before the script looks for entry conditions. This adds an extra layer of trend confirmation, ensuring that trades are only taken in more favorable market conditions.
MA #1: Fast MA | MA #2: Medium MA | MA #3: Slow MA
⍺: MA Period | Σ: MA Timeframe
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What entry modes are used in this strategy? What are the underlying calculations?
The strategy by default uses two different techniques for the entry criteria with user-adjustable left and right bars: Breakout and Fractal.
1. Breakout Entries :
- The strategy looks for pivot high points with a default period of 3.
- It stores the most recent high level in a variable.
- When the price crosses above this most recent level, the strategy checks if all conditions are met and the bar is closed before taking the buy entry.
◧: Pivot high left bars period | ◨: Pivot high right bars period
2. Fractal Entries :
- The strategy looks for pivot low points with a default period of 3.
- When a pivot low is detected, the strategy checks if all conditions are met and the bar is closed before taking the buy entry.
◧: Pivot low left bars period | ◨: Pivot low right bars period
By utilizing these entry modes, the strategy aims to capitalize on bullish price movements while ensuring that the necessary conditions are met to validate the entry points.
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What type of stop-loss identification method are used in this strategy? What are the underlying calculations?
Initial Stop-Loss:
1. ATR Based:
The Average True Range (ATR) is a method used in technical analysis to measure volatility. It is not used to indicate the direction of price but to measure volatility, especially volatility caused by price gaps or limit moves.
Calculation:
- To calculate the ATR, the True Range (TR) first needs to be identified. The TR takes into account the most current period high/low range as well as the previous period close.
The True Range is the largest of the following:
- Current Period High minus Current Period Low
- Absolute Value of Current Period High minus Previous Period Close
- Absolute Value of Current Period Low minus Previous Period Close
- The ATR is then calculated as the moving average of the TR over a specified period. (The default period is 14).
Example - ATR (14) * 1.5
⍺: ATR period | Σ: ATR Multiplier
2. ADR Based:
The Average Day Range (ADR) is an indicator that measures the volatility of an asset by showing the average movement of the price between the high and the low over the last several days.
Calculation:
- To calculate the ADR for a particular day:
- Calculate the average of the high prices over a specified number of days.
- Calculate the average of the low prices over the same number of days.
- Find the difference between these average values.
- The default period for calculating the ADR is 14 days. A shorter period may introduce more noise, while a longer period may be slower to react to new market movements.
Example - ADR (14) * 1.5
⍺: ADR period | Σ: ADR Multiplier
Application in Strategy:
- The strategy calculates the current bar's ADR/ATR with a user-defined period.
- It then multiplies the ADR/ATR by a user-defined multiplier to determine the initial stop-loss level.
By using these methods, the strategy dynamically adjusts the initial stop-loss based on market volatility, helping to protect against adverse price movements while allowing for enough room for trades to develop.
Trailing Stop-Loss:
One of the key elements of this strategy is its ability to detec buyside and sellside liquidity levels across multiple timeframes to trail the stop-loss once the trade is in running profits.
By utilizing this approach, the strategy allows enough room for price to run.
There are two built-in trailing stop-loss (SL) options you can choose from while in a trade:
1. External Trailing Stop-Loss:
- Uses sell-side liquidity to trail your stop-loss, allowing price to consolidate before continuation. This method is less aggressive and provides more room for price fluctuations.
Example - External - Wick below the trailing SL - 12H trailing timeframe
⍺: Exit type | Σ: Trailing stop-loss timeframe
2. Internal Trailing Stop-Loss:
- Uses the most recent swing low with a period of 2 to trail your stop-loss. This method is more aggressive compared to the external trailing stop-loss, as it tightens the stop-loss closer to the current price action.
Example - Internal - Close below the trailing SL - 6H trailing timeframe
⍺: Exit type | Σ: Trailing stop-loss timeframe
Each market behaves differently across various timeframes, and it is essential to test different parameters and optimizations to find out which trailing stop-loss method gives you the desired results and performance.
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What type of break-even and take profit identification methods are used in this strategy? What are the underlying calculations?
For Break-Even:
- You can choose to set a break-even level at which your initial stop-loss moves to the entry price as soon as it hits, and your trailing stop-loss gets activated (if enabled).
- You can select either a percentage (%) or risk-to-reward (RR) based break-even, allowing you to set your break-even level as a percentage amount above the entry price or based on RR.
For TP1 (Take Profit 1):
- You can choose to set a take profit level at which your position gets fully closed or 50% if the TP2 boolean is enabled.
- Similar to break-even, you can select either a percentage (%) or risk-to-reward (RR) based take profit level, allowing you to set your TP1 level as a percentage amount above the entry price or based on RR.
For TP2 (Take Profit 2):
- You can choose to set a take profit level at which your position gets fully closed.
- As with break-even and TP1, you can select either a percentage (%) or risk-to-reward (RR) based take profit level, allowing you to set your TP2 level as a percentage amount above the entry price or based on RR.
The underlying calculations involve determining the price levels at which these actions are triggered. For break-even, it moves the initial stop-loss to the entry price and activate the trailing stop-loss once the break-even level is reached.
For TP1 and TP2, it's specifying the price levels at which the position is partially or fully closed based on the chosen method (percentage or RR) above the entry price.
These calculations are crucial for managing risk and optimizing profitability in the strategy.
⍺: BE/TP type (%/RR) | Σ: how many RR/% above the current price
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What's the ADR filter? What does it do? What are the underlying calculations?
The Average Day Range (ADR) measures the volatility of an asset by showing the average movement of the price between the high and the low over the last several days.
The period of the ADR filter used in this strategy is tied to the same period you've used for your initial stop-loss.
Users can define the minimum ADR they want to be met before the script looks for entry conditions.
ADR Bias Filter:
- Compares the current bar ADR with the ADR (Defined by user):
- If the current ADR is higher, it indicates that volatility has increased compared to ADR (DbU).(⬆)
- If the current ADR is lower, it indicates that volatility has decreased compared to ADR (DbU).(⬇)
Calculations:
1. Calculate ADR:
- Average the high prices over the specified period.
- Average the low prices over the same period.
- Find the difference between these average values in %.
2. Current ADR vs. ADR (DbU):
- Calculate the ADR for the current bar.
- Calculate the ADR (DbU).
- Compare the two values to determine if volatility has increased or decreased.
By using the ADR filter, the strategy ensures that trades are only taken in favorable market conditions where volatility meets the user's defined threshold, thus optimizing entry conditions and potentially improving the overall performance of the strategy.
>: Minimum required ADR for entry | %: Current ADR comparison to ADR of 14 days ago.
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What's the probability filter? What are the underlying calculations?
The probability filter is designed to enhance trade entries by using buyside liquidity and probability analysis to filter out unfavorable conditions.
This filter helps in identifying optimal entry points where the likelihood of a profitable trade is higher.
Calculations:
1. Understanding Swing highs and Swing Lows
Swing High: A Swing High is formed when there is a high with 2 lower highs to the left and right.
Swing Low: A Swing Low is formed when there is a low with 2 higher lows to the left and right.
2. Understanding the purpose and the underlying calculations behind Buyside, Sellside and Equilibrium levels.
3. Understanding probability calculations
1. Upon the formation of a new range, the script waits for the price to reach and tap into equilibrium or the 50% level. Status: "⏸" - Inactive
2. Once equilibrium is tapped into, the equilibrium status becomes activated and it waits for either liquidity side to be hit. Status: "▶" - Active
3. If the buyside liquidity is hit, the script adds to the count of successful buyside liquidity occurrences. Similarly, if the sellside is tapped, it records successful sellside liquidity occurrences.
5. Finally, the number of successful occurrences for each side is divided by the overall count individually to calculate the range probabilities.
Note: The calculations are performed independently for each directional range. A range is considered bearish if the previous breakout was through a sellside liquidity. Conversely, a range is considered bullish if the most recent breakout was through a buyside liquidity.
Example - BSL > 50%
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What's the sentiment Filter? What are the underlying calculations?
Sentiment filter aims to calculate the percentage level of bullish or bearish fluctuations within equally divided price sections, in the latest price range.
Calculations:
This filter calculates the current sentiment by identifying the highest swing high and the lowest swing low, then evenly dividing the distance between them into percentage amounts. If the price is above the 50% mark, it indicates bullishness, whereas if it's below 50%, it suggests bearishness.
Sentiment Bias Identification:
Bullish Bias: The current price is trading above the 50% daily range.
Bearish Bias: The current price is trading below the 50% daily range.
Example - Sentiment Enabled | Bullish degree above 50% | Bullish sentimental bias
>: Minimum required sentiment for entry | %: Current sentimental degree in a (Bullish/Bearish) sentimental bias
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What's the range length Filter? What are the underlying calculations?
The range length filter identifies the price distance between buyside and sellside liquidity levels in percentage terms. When enabled, the script only looks for entries when the minimum range length is met. This helps ensure that trades are taken in markets with sufficient price movement.
Calculations:
Range Length (%) = ( ( Buyside Level − Sellside Level ) / Current Price ) ×100
Range Bias Identification:
Bullish Bias: The current range price has broken above the previous external swing high.
Bearish Bias: The current range price has broken below the previous external swing low.
Example - Range length filter is enabled | Range must be above 5% | Price must be in a bearish range
>: Minimum required range length for entry | %: Current range length percentage in a (Bullish/Bearish) range
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What's the day filter Filter, what does it do?
The day filter allows users to customize the session time and choose the specific days they want to include in the strategy session. This helps traders tailor their strategies to particular trading sessions or days of the week when they believe the market conditions are more favorable for their trading style.
Customize Session Time:
Users can define the start and end times for the trading session.
This allows the strategy to only consider trades within the specified time window, focusing on periods of higher market activity or preferred trading hours.
Select Days:
Users can select which days of the week to include in the strategy.
This feature is useful for excluding days with historically lower volatility or unfavorable trading conditions (e.g., Mondays or Fridays).
Benefits:
Focus on Optimal Trading Periods:
By customizing session times and days, traders can focus on periods when the market is more likely to present profitable opportunities.
Avoid Unfavorable Conditions:
Excluding specific days or times can help avoid trading during periods of low liquidity or high unpredictability, such as major news events or holidays.
Increased Flexibility: The filter provides increased flexibility, allowing traders to adapt the strategy to their specific needs and preferences.
Example - Day filter | Session Filter
θ: Session time | Exchange time-zone
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What tables are available in this script?
Table Type:
- Summary: Provides a general overview, displaying key performance parameters such as Net Profit, Profit Factor, Max Drawdown, Average Trade, Closed Trades, Compound Annual Growth Rate (CAGR), MAR and more.
CAGR: It calculates the 'Compound Annual Growth Rate' first and last taken trades on your chart. The CAGR is a notional, annualized growth rate that assumes all profits are reinvested. It only takes into account the prices of the two end points — not drawdowns, so it does not calculate risk. It can be used as a yardstick to compare the performance of two strategies. Since it annualizes values, it requires a minimum 4H timeframe to display the CAGR value. annualizing returns over smaller periods of times doesn't produce very meaningful figures.
MAR: Measure of return adjusted for risk: CAGR divided by Max Drawdown. Indicates how comfortable the system might be to trade. Higher than 0.5 is ideal, 1.0 and above is very good, and anything above 3.0 should be considered suspicious and you need to make sure the total number of trades are high enough by running a Deep Backtest in strategy tester. (available for TradingView Premium users.)
Avg Trade: The sum of money gained or lost by the average trade generated by a strategy. Calculated by dividing the Net Profit by the overall number of closed trades. An important value since it must be large enough to cover the commission and slippage costs of trading the strategy and still bring a profit.
MaxDD: Displays the largest drawdown of losses, i.e., the maximum possible loss that the strategy could have incurred among all of the trades it has made. This value is calculated separately for every bar that the strategy spends with an open position.
Profit Factor: The amount of money a trading strategy made for every unit of money it lost (in the selected currency). This value is calculated by dividing gross profits by gross losses.
Avg RR: This is calculated by dividing the average winning trade by the average losing trade. This field is not a very meaningful value by itself because it does not take into account the ratio of the number of winning vs losing trades, and strategies can have different approaches to profitability. A strategy may trade at every possibility in order to capture many small profits, yet have an average losing trade greater than the average winning trade. The higher this value is, the better, but it should be considered together with the percentage of winning trades and the net profit.
Winrate: The percentage of winning trades generated by a strategy. Calculated by dividing the number of winning trades by the total number of closed trades generated by a strategy. Percent profitable is not a very reliable measure by itself. A strategy could have many small winning trades, making the percent profitable high with a small average winning trade, or a few big winning trades accounting for a low percent profitable and a big average winning trade. Most trend-following successful strategies have a percent profitability of 15-40% but are profitable due to risk management control.
BE Trades: Number of break-even trades, excluding commission/slippage.
Losing Trades: The total number of losing trades generated by the strategy.
Winning Trades: The total number of winning trades generated by the strategy.
Total Trades: Total number of taken traders visible your charts.
Net Profit: The overall profit or loss (in the selected currency) achieved by the trading strategy in the test period. The value is the sum of all values from the Profit column (on the List of Trades tab), taking into account the sign.
- Monthly: Displays performance data on a month-by-month basis, allowing users to analyze performance trends over each month.
- Weekly: Displays performance data on a week-by-week basis, helping users to understand weekly performance variations.
- OFF: Hides the performance table.
Labels:
- OFF: Hides labels in the performance table.
- PnL: Shows the profit and loss of each trade individually, providing detailed insights into the performance of each trade.
- Range: Shows the range length and Average Day Range (ADR), offering additional context about market conditions during each trade.
Profit Color:
- Allows users to set the color for representing profit in the performance table, helping to quickly distinguish profitable periods.
Loss Color:
- Allows users to set the color for representing loss in the performance table, helping to quickly identify loss-making periods.
These customizable tables provide traders with flexible and detailed performance analysis, aiding in better strategy evaluation and optimization.
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User-input styles and customizations:
To facilitate studying historical data, all conditions and rules can be applied to your charts. By plotting background colors on your charts, you'll be able to identify what worked and what didn't in certain market conditions.
Please note that all background colors in the style are disabled by default to enhance visualization.
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How to Use This Algobuilder to Create a Profitable Edge and System:
Choose Your Strategy mode:
- Decide whether you are creating an investing strategy or a trading strategy.
Select a Market:
- Choose a one-sided market such as stocks, indices, or cryptocurrencies.
Historical Data:
- Ensure the historical data covers at least 10 years of price action for robust backtesting.
Timeframe Selection:
- Choose the timeframe you are comfortable trading with. It is strongly recommended to use a timeframe above 15 minutes to minimize the impact of commissions on your profits.
Set Commission and Slippage:
- Properly set the commission and slippage in the strategy properties according to your broker or prop firm specifications.
Parameter Optimization:
- Use trial and error to test different parameters until you find the performance results you are looking for in the summary table or, preferably, through deep backtesting using the strategy tester.
Trade Count:
- Ensure the number of trades is 100 or more; the higher, the better for statistical significance.
Positive Average Trade:
- Make sure the average trade value is above zero.
(An important value since it must be large enough to cover the commission and slippage costs of trading the strategy and still bring a profit.)
Performance Metrics:
- Look for a high profit factor, MAR (Mar Ratio), CAGR (Compound Annual Growth Rate), and net profit with minimum drawdown. Ideally, aim for a drawdown under 20-30%, depending on your risk tolerance.
Refinement and Optimization:
- Try out different markets and timeframes.
- Continue working on refining your edge using the available filters and components to further optimize your strategy.
Automation:
- Once you’re confident in your strategy, you can use the automation section to connect the algorithm to your broker or prop firm.
- Trade a fully automated and backtested trading strategy, allowing for hands-free execution and management.
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What makes this strategy original?
1. Incorporating direct integration of probabilities into the strategy.
2. Leveraging market sentiment to construct a profitable approach.
3. Utilizing built-in market structure-based trailing stop-loss mechanisms across various timeframes.
4. Offering both investing and trading strategies, facilitating optimization from different perspectives.
5. Automation for efficient execution.
6. Providing a summary table for instant access to key parameters of the strategy.
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How to use automation?
For Traders:
1. Ensure the strategy parameters are properly set based on your optimized parameters.
2. Enter your PineConnector License ID in the designated field.
3. Specify the desired risk level.
4. Provide the Metatrader symbol.
5. Check for chart updates to ensure the automation table appears on the top right corner, displaying your License ID, risk, and symbol.
6. Set up an alert with the strategy selected as Condition and the Message as {{strategy.order.alert_message}}.
7. Activate the Webhook URL in the Notifications section, setting it as the official PineConnector webhook address.
8. Double-check all settings on PineConnector to ensure the connection is successful.
9. Create the alert for entry/exit automation.
For Investors:
1. Ensure the strategy parameters are properly set based on your optimized parameters.
2. Choose "Investing" in the user-input settings.
3. Create an alert with a specified name.
4. Customize the notifications tab to receive alerts via email.
5. Buying/selling alerts will be triggered instantly upon entry or exit order execution.
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Strategy Properties
This script backtest is done on 4H COINBASE:BTCUSD , using the following backtesting properties:
Balance: $5000
Order Size: 10% of the equity
Risk % per trade: 1%
Commission: 0.04% (Default commission percentage according to TradingView competitions rules)
Slippage: 75 ticks
Pyramiding: 2
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Terms and Conditions | Disclaimer
Our charting tools are provided for informational and educational purposes only and should not be construed as financial, investment, or trading advice. They are not intended to forecast market movements or offer specific recommendations. Users should understand that past performance does not guarantee future results and should not base financial decisions solely on historical data.
Built-in components, features, and functionalities of our charting tools are the intellectual property of @Fractalyst Unauthorized use, reproduction, or distribution of these proprietary elements is prohibited.
By continuing to use our charting tools, the user acknowledges and accepts the Terms and Conditions outlined in this legal disclaimer and agrees to respect our intellectual property rights and comply with all applicable laws and regulations.
Pvsra Candles Boxes and VolumeIntroduction:
The PVSRA Candles and Liquidity Zones Indicator is a indicator created to support your trading analysis on TradingView. This indicator integrates PVSRA candle analysis, liquidity zone identification, gap detection, and volume visualization, providing a detailed view of market dynamics.
Key Features:
PVSRA Candles: The indicator detects PVSRA candle patterns, which are based on price, volume, and support/resistance analysis. These candles illustrate the interaction between price movements and volume activity, offering insights into market behavior.
Liquidity Zones: The indicator marks liquidity zones, representing areas of unrecovered liquidity on both PVSRA candles and regular candles. These zones can help you identify key price levels and areas of interest for price action.
Gap Detection: The indicator automatically identifies and highlights price gaps on the chart. These gaps can indicate strong market sentiment and potential areas for price retracement or continuation.
Custom PVSRA Zones: You can plot custom PVSRA zones from higher timeframes onto the current chart, enabling the analysis of key levels and trends from multiple timeframes for a broader market perspective.
Midpoints with Price Labels: Each zone, whether it's a PVSRA zone or a custom zone, includes midpoints and price labels, aiding in the quick identification of important levels within each zone.
Volume Visualization: The indicator offers an option to display the volume of PVSRA candles directly on the PVSRA candle zones, providing additional context to understand volume activity within each zone.
Customization Options: Extensive customization options allow you to tailor the indicator to your preferences, including color schemes, wick inclusion, volume visualization, and other parameters.
Usage Instructions:
Apply the indicator to your TradingView chart.
Customize the indicator's settings based on your preferences, such as color schemes, wick inclusion, volume visualization, gap detection, and other parameters.
Observe the PVSRA candles, liquidity zones, gaps, and custom zones plotted on the chart.
Analyze the interactions between price, volume, gaps, and liquidity zones to identify potential trade setups.
Combine the insights from PVSRA candles, liquidity zones, gap detection, and volume visualization with your existing trading strategy and risk management techniques for informed decision-making.
Conclusion:
The PVSRA Candles and Liquidity Zones Indicator provides traders with a comprehensive toolset for analyzing PVSRA candle patterns, liquidity zones, gap detection, and volume visualization. By utilizing this indicator's features and customization options, you can enrich your trading analysis.
Please ensure to thoroughly test the indicator and its functionality within your trading strategy before applying it to live trading scenarios. Happy trading!
Open Interest liquidation map [Ox_kali]This script is inspired by @LeviathanCapital work on aggregating Open Interest , as presented in the Open Interest Suite Aggregated script. This script aims to provide a liquidation map of Open Interest by identifying significant anomalies across multiple trading platforms. By integrating data from Binance, BitMEX, and Kraken, this script tries to offer a comprehensive and detailed view of Open Interest movements and attempts to define zones of interest.
Key Points
1. Multiple Data Sources : The script retrieves Open Interest data from several trading platforms, including Binance (USDT, USD, BUSD), BitMEX (USD, USDT), and Kraken (USD).
2. Anomaly Detection : Utilizes a simple moving average (SMA) to calculate the average size of Open Interest candles and identify anomalies based on a user-specified size factor.
3. Background Coloring : Offers an option to color the background of the charts based on detected anomalies, allowing for clear visualization of significant movements.
4. Dynamic Support and Resistance Zones : Defines and dynamically updates support and resistance zones based on Open Interest anomalies.
5. Alerts : Configures alerts to notify the user when an Open Interest anomaly is detected.
Trading Utility
This script can be useful for monitoring significant changes in Open Interest and potential liquidation zones across multiple platforms. The main trading applications include:
1. Identifying Liquidation Points : By detecting Open Interest anomalies, it is possible to identify potential liquidation points where significant price movements might occur.
2. Multi-Platform Analysis : By aggregating Open Interest data from multiple platforms, a more comprehensive market overview is obtained.
3. Detecting Support and Resistance Zones : Dynamic support and resistance zones help identify key price levels where trend reversals might occur.
4. Customized Alerts: Anomaly alerts allow for automated responses to market changes.
Conclusion
The “Open Interest liquidation map ” script is an experimental tool for analyzing Open Interest across multiple trading platforms. Inspired by Leviathan’s work, this script attempts to identify liquidation and interest zones. This is an experimental version, and I welcome any comments and feedback for improvement.
Please note that the Open Interest liquidation map is not a guarantee of future market performance and should be used in conjunction with proper risk management. Always ensure that you have a thorough understanding of the indicator’s methodology and its limitations before making any investment decisions. Additionally, past performance is not indicative of future results.
Cipher Mean ReversionThe Cipher Mean Reversion Indicator is an advanced trading tool that dynamically adjusts to market volatility to provide optimal entry and exit signals. This indicator is designed to identify significant deviations from a calculated mean, signaling potential reversal points where prices might revert to their average.
Core Functionality:
Cipher Mean Reversion uses an Exponential Moving Average (EMA) as the foundation for its mean price calculation. What sets Cipher apart is its dynamic adjustment mechanism that adapts the sensitivity of the EMA based on a volatility index. This index assesses both the rate and magnitude of price changes over a user-specified period, utilizing standard deviation and average true range calculations to gauge market volatility.
Unique Features:
Dynamic Sensitivity Adjustment: The sensitivity of our mean reversion detection changes in real-time, driven by our proprietary volatility index. This index is calculated using a combination of standard deviation and average true range, providing a robust measure of market volatility that informs the adjustment of our signal thresholds.
Adaptive Signal Thresholds: Instead of static buy and sell thresholds, Cipher uses thresholds that adapt to ongoing market conditions. These thresholds expand during periods of high volatility to reduce the risk of false signals and contract during quieter market conditions to capture smaller price reversals.
Signal Generation:
Buy Signals: Generated when the price falls significantly below the dynamically adjusted lower threshold, indicating an oversold condition ripe for reversal.
Sell Signals: Occur when the price exceeds the dynamically adjusted upper threshold, suggesting an overbought condition likely to revert.
Usage Tips:
Parameter Customization: Users can adjust the lookback period for the volatility assessment and the length of the EMA to better fit different assets and trading styles.
Complementary Analysis: For enhanced trading decisions, combine the Cipher Mean Reversion with other analytical tools such as volume indicators or momentum oscillators.
Risk Management: Employ risk management strategies, including predefined stop-loss and take-profit levels, tailored to the volatility insights provided by the indicator.
Originality and Usefulness:
The Cipher Mean Reversion Indicator offers a novel approach to mean reversion analysis by integrating real-time volatility adaptations into the signal generation process. This methodology ensures that the indicator remains highly responsive to changing market dynamics, providing traders with signals that are both timely and relevant.
Intended Use:
Cipher is versatile and can be used across various asset classes, including stocks, forex, and commodities. It is ideal for traders who require an indicator that can adapt to different market environments, from fast-moving markets to more stable conditions.
ka66: FX Sessions High/LowThis indicator is specific to the 24-hour Forex Market. It provides 2 features:
Demarcating forex sessions with open and close lines. Note that looking at various sources online, we use the convention that the Asia session starts with the Tokyo market open, rather than the earlier Sydney session. Presumably this is better since we then have more liquidity in the market. Note that we have three sessions: Asia, London, New York.
At the end of each session, we begin plotting that (closed) session's high and low, which acts as a natural support and resistance for the Forex market. This is the key feature it provides. The first feature is mainly there for a visual guide, which can be turned off via the UI settings, but it certainly helps verifying the logic!
For more background, we are taking the idea of Previous Day High/Low (PDH/PDL), but adjusting it to a multi-session market like Forex. In essence, this is is a "Previous Session High/Low" indicator.
PDH/PDL works fine when you have a market with Regular Trading Hours, ignoring Extended Hours. However, in the Forex market, each session can have differing sentiments, e.g. we often see say London bringing prices up, and New York bringing them back down.
The break of session high/lows (or bouncing off them) can reflect where the potential direction price is going to take.
I also categorised this as a Sentiment indicator, because support and resistance areas where prices react do provide the sentiment of the market. They aren't just lines, they are prices of interest to major players.
MTF Bollinger BandWidth [CryptoSea]The MTF Bollinger BandWidth Indicator is an advanced analytical tool crafted for traders who need to gauge market volatility and trend strength across multiple timeframes. This powerful indicator leverages the Bollinger BandWidth concept to provide a comprehensive view of price movements and volatility changes, making it ideal for those looking to enhance their trading strategies with multi-timeframe analysis.
Key Features
Multi-Timeframe Analysis: Allows users to monitor Bollinger BandWidth across various timeframes, providing a macro and micro perspective on market volatility.
Pivot Point Detection: Identifies crucial high and low pivot points, offering insights into potential support and resistance levels. Pivot points are dynamic and adjust based on the timeframe viewed, reflecting short-term fluctuations or longer-term trends.
Customizable Parameters: Includes options to adjust the length of the moving average, the standard deviation multiplier, and more, enabling traders to tailor the tool to their specific needs.
Dynamic Color Coding: Utilizes color changes to indicate different market conditions, aiding in quick visual assessments.
In the example below, notice how changes in BBW across different timeframes provide early signals for potential volatility increases or decreases.
How it Works
Calculation of BandWidth: Measures the percentage difference between the upper and lower Bollinger Bands, which expands or contracts based on market volatility.
High and Low Pivot Tracking: Automatically calculates and tracks the pivots in BBW values, which are critical for identifying turning points in market behavior. High and low levels will change depending on the timeframe, capturing distinct market behaviors from granular movements to broad trends.
Visual Alerts and Table Display: Highlights significant changes in BBW with visual alerts and provides a detailed table view for comparison across timeframes.
In the example below, BBW identifies a significant contraction followed by an expansion, suggesting a potential breakout.
Application
Strategic Market Entry and Exit: Assists traders in making well-informed decisions about when to enter and exit trades based on volatility cues.
Trend Strength Assessment: Helps in determining the strength of the prevailing market trend through detailed analysis of expansion and contraction periods.
Adaptable to Various Trading Styles: Suitable for day traders, swing traders, and long-term investors due to its customization capabilities and effectiveness across different timeframes.
The MTF Bollinger BandWidth Indicator is a must-have in the arsenal of traders who demand depth, accuracy, and responsiveness in their market analysis tools. Enhance your trading decisions by integrating this sophisticated indicator into your strategy to navigate the complexities of various market conditions effectively.
Multi Timeframe Moving Average Convergence Divergence {DCAquant}Overview
The MTF MACD indicator provides a unique view of MACD (Moving Average Convergence Divergence) and Signal Line dynamics across various timeframes. It calculates the MACD and Signal Line for each selected timeframe and aggregates them for analysis.
Key Features
MACD Calculation
Utilizes standard MACD calculations based on user-defined parameters like fast length, slow length, and signal smoothing.
Determines the difference between the MACD and Signal Line to identify convergence or divergence.
Multiple Timeframe Analysis
Allows users to select up to six different timeframes for analysis, ranging from minutes to days, providing a holistic view of market trends.
Calculates MACD and Signal Line for each timeframe independently.
Aggregated Analysis
Combines MACD and Signal Line values from multiple timeframes to derive a consolidated view.
Optionally applies moving average smoothing to aggregated MACD and Signal Line values for better clarity.
Position Identification
Determines the trading position (Long, Short, or Neutral) based on the relationship between MACD and Signal Line.
Considers the proximity of MACD and Signal Line to identify potential trading opportunities.
Visual Representation
Plots MACD and Signal Line on the price chart for visual analysis.
Utilizes color-coded backgrounds to indicate trading conditions (Long, Short, or Neutral) for quick interpretation.
Dynamic Table Display
Displays trading position alongside graphical indicators (rocket for Long, snowflake for Short, and star for Neutral) in a customizable table.
Offers flexibility in table placement and size for user preference.
How to Use
Parameter Configuration
Adjust parameters like fast length, slow length, and signal smoothing to fine-tune MACD calculations.
Select desired timeframes for analysis based on trading preferences and market conditions.
Interpretation
Monitor the relationship between MACD and Signal Line on the price chart.
Pay attention to color-coded backgrounds and graphical indicators in the table for actionable insights.
Decision Making
Consider entering Long positions when MACD is above the Signal Line and vice versa for Short positions.
Exercise caution during Neutral conditions, as there may be uncertainty in market direction.
Risk Management
Combine MTF MACD analysis with risk management strategies to optimize trade entries and exits.
Set stop-loss and take-profit levels based on individual risk tolerance and market conditions.
Conclusion
The Multi Timeframe Moving Average Convergence Divergence (MTF MACD) indicator offers a robust framework for traders to analyze market trends across multiple timeframes efficiently. By combining MACD insights from various time horizons and presenting them in a clear and actionable format, it empowers traders to make informed decisions and enhance their trading strategies.
Disclaimer
The Multi Timeframe Moving Average Convergence Divergence (MTF MACD) indicator provided here is intended for educational and informational purposes only. Trading in financial markets involves risk, and past performance is not indicative of future results. The use of this indicator does not guarantee profits or prevent losses.
Please be aware that trading decisions should be made based on your own analysis, risk tolerance, and financial situation. It is essential to conduct thorough research and seek advice from qualified financial professionals before engaging in any trading activity.
The MTF MACD indicator is a tool designed to assist traders in analyzing market trends and identifying potential trading opportunities. However, it is not a substitute for sound judgment and prudent risk management.
By using this indicator, you acknowledge that you are solely responsible for your trading decisions, and you agree to indemnify and hold harmless the developer and distributor of this indicator from any losses, damages, or liabilities arising from its use.
Trading in financial markets carries inherent risks, and you should only trade with capital that you can afford to lose. Exercise caution and discretion when implementing trading strategies, and consider seeking independent financial advice if necessary.
Multi Timeframe Relative Strength Index {DCAquant}Overview
The Multi Timeframe Relative Strength Index (MTF RSI) is a powerful technical analysis tool designed to provide insights into market momentum and potential trend reversals across multiple timeframes. Leveraging the Relative Strength Index (RSI) formula, this indicator offers traders a comprehensive view of market sentiment and identifies overbought and oversold conditions.
Key Features
RSI Calculation:
Utilizes the standard RSI calculation formula to measure the magnitude of recent price changes and assess the strength of market trends.
Employs a user-defined length parameter to customize the sensitivity of the RSI calculation based on trading preferences.
Multiple Timeframe Analysis:
Allows traders to analyze RSI values across up to six different timeframes, ranging from minutes to days, providing a holistic perspective on market dynamics.
Calculates RSI values independently for each selected timeframe, enabling comparison and trend identification.
Threshold Levels:
Defines overbought and oversold levels to highlight potential reversal points in market trends.
Offers flexibility in adjusting threshold levels based on individual risk tolerance and trading strategies.
Neutral Zone:
Establishes upper and lower neutral thresholds to identify periods of consolidation or sideways movement in price.
Helps traders distinguish between trending and ranging market conditions for more accurate analysis.
Moving Average Smoothing:
Provides the option to apply moving average smoothing to aggregated RSI values for enhanced clarity and reduced noise.
Enables smoother visualization of RSI trends, facilitating easier interpretation for traders.
Visual Representation:
Plots the aggregated MTF RSI values on the price chart, allowing traders to visually assess market momentum and potential reversal points.
Utilizes color-coded backgrounds to indicate Long, Short, or Neutral conditions for quick identification.
Dynamic Table Display:
Displays trading signals alongside graphical indicators (rocket for Long, snowflake for Short, and star for Neutral) in a customizable table format.
Offers flexibility in table placement and size to accommodate user preferences.
How to Use:
Parameter Configuration:
Adjust the length parameter to fine-tune the sensitivity of the RSI calculation based on the desired timeframe and trading strategy.
Define overbought and oversold levels to identify potential reversal points in market trends.
Customize upper and lower neutral thresholds to differentiate between trending and ranging market conditions.
Interpretation:
Monitor the aggregated MTF RSI values plotted on the price chart for signals of overbought or oversold conditions.
Pay attention to color-coded backgrounds and graphical indicators in the table for actionable trading insights.
Trading Strategy:
Consider entering Long positions when the aggregated MTF RSI is above the upper neutral threshold, indicating potential bullish momentum.
Evaluate Short opportunities when the aggregated MTF RSI falls below the lower neutral threshold, signaling possible bearish momentum.
Exercise caution during Neutral conditions, as there may be uncertainty in market direction.
Risk Management:
Combine MTF RSI analysis with robust risk management strategies, including stop-loss and take-profit levels, to manage trading risks effectively.
Practice prudent risk management and trade within your risk tolerance to minimize potential losses.
Disclaimer
Trading in financial markets involves risk, and past performance is not indicative of future results. The use of the MTF RSI indicator does not guarantee profits or prevent losses. Traders should conduct their own analysis, exercise caution, and seek advice from qualified financial professionals before making trading decisions.
HTF Descending TriangleHTF Descending Triangle aims at detecting descending triangles using higher time frame data, without repainting nor misalignment issues.
Descending triangles are defined by a falling upper trend line and an horizontal lower trend line. It is a chart pattern used in technical analysis to predict the continuation of a downtrend.
This indicator can be useful if you, like me, believe that higher time frames can offer a broader perspective and provide clearer signals, smoothing out market noise and showing longer-term trends.
You can change the indicator settings as you see fit to tighten or loosen the detection, and achieve the best results for your use case.
Features
It draws the detected descending triangle on the chart.
It supports alerting when a detection occurs.
It allows for setting the higher time frame to run the detection on.
It allows for setting the minimum number of consecutive valid higher time frame bars to fit the pattern criteria.
It allows for setting a low factor detection criteria to apply on higher time frame bars low as a proportion of the distance between the reference bar low and open/close.
It allows for turning on an adjustment of the triangle using highest/lowest values within valid higher time frame bars.
Settings
Higher Time Frame dropdown: Selects higher time frame to run the detection on. It must be higher than, and a multiple of, the chart's timeframe.
Valid Bars Minimum field: Sets minimum number of consecutive valid higher time frame bars to fit the pattern criteria.
Low Factor checkbox: Turns on/off low factor detection criteria.
Low Factor field: Sets low factor to apply on higher time frame bars low as a proportion of the distance between the reference bar low and open/close.
Adjust Triangle checkbox: Turns on/off triangle adjustment using highest/lowest values within valid higher time frame bars.
Detection Algorithm Notes
The detection algorithm recursively selects a higher time frame bar as reference. Then it looks at the consecutive higher time frame bars (as per the requested number of minimum valid bars) as follows:
High must be lower than previous bar.
Open/close min value must be higher than reference bar low.
When low factor criteria is turned on, low must be lower than reference bar open/close min value minus low factor proportion of the distance between reference bar low and open/close min value.
VolCorrBeta [NariCapitalTrading]Indicator Overview: VolCorrBeta
The VolCorrBeta indicator is designed to analyze and interpret intermarket relationships. This indicator combines volatility, correlation, and beta calculations to provide a comprehensive view of how certain assets (BTC, DXY, CL) influence the ES futures contract (I tailored this indicator to the ES contract, but it will work for any symbol).
Functionality
Input Symbols
BTCUSD : Bitcoin to USD
DXY : US Dollar Index
CL1! : Crude Oil Futures
ES1! : S&P 500 Futures
These symbols can be customized according to user preferences. The main focus of the indicator is to analyze how the price movements of these assets correlate with and lead the price movements of the ES futures contract.
Parameters for Calculation
Correlation Length : Number of periods for calculating the correlation.
Standard Deviation Length : Number of periods for calculating the standard deviation.
Lookback Period for Beta : Number of periods for calculating beta.
Volatility Filter Length : Length of the volatility filter.
Volatility Threshold : Threshold for adjusting the lookback period based on volatility.
Key Calculations
Returns Calculation : Computes the daily returns for each input symbol.
Correlation Calculation : Computes the correlation between each input symbol's returns and the ES futures contract returns over the specified correlation length.
Standard Deviation Calculation : Computes the standard deviation for each input symbol's returns and the ES futures contract returns.
Beta Calculation : Computes the beta for each input symbol relative to the ES futures contract.
Weighted Returns Calculation : Computes the weighted returns based on the calculated betas.
Lead-Lag Indicator : Calculates a lead-lag indicator by averaging the weighted returns.
Volatility Filter : Smooths the lead-lag indicator using a simple moving average.
Price Target Estimation : Estimates the ES price target based on the lead-lag indicator (the yellow line on the chart).
Dynamic Stop Loss (SL) and Take Profit (TP) Levels : Calculates dynamic SL and TP levels using volatility bands.
Signal Generation
The indicator generates buy and sell signals based on the filtered lead-lag indicator and confirms them using higher timeframe analysis. Signals are debounced to reduce frequency, ensuring that only significant signals are considered.
Visualization
Background Coloring : The background color changes based on the buy and sell signals for easy visualization (user can toggle this on/off).
Signal Labels : Labels with arrows are plotted on the chart, showing the signal type (buy/sell), the entry price, TP, and SL levels.
Estimated ES Price Target : The estimated price target for ES futures is plotted on the chart.
Correlation and Beta Dashboard : A table displayed in the top right corner shows the current correlation and beta values for relative to the ES futures contract.
Customization
Traders can customize the following parameters to tailor the indicator to their specific needs:
Input Symbols : Change the symbols for BTC, DXY, CL, and ES.
Correlation Length : Adjust the number of periods used for calculating correlation.
Standard Deviation Length : Adjust the number of periods used for calculating standard deviation.
Lookback Period for Beta : Change the lookback period for calculating beta.
Volatility Filter Length : Modify the length of the volatility filter.
Volatility Threshold : Set a threshold for adjusting the lookback period based on volatility.
Plotting Options : Customize the colors and line widths of the plotted elements.
BEC (Bearish Elephant Candle)Description:
The Bearish Elephant Candle Indicator is designed to identify and signal potential short entry points based on the Bearish Elephant Candle pattern. This pattern is characterized by a large bearish candle, where the body (difference between open and close) is more than 70% of the entire range (difference between high and low), and the total range is greater than the average true range over a specified period. The indicator also plots a 20-period Exponential Moving Average (EMA) to help visualize the trend.
How It Works:
Bearish Elephant Candle Identification:
The indicator calculates the true range and the average true range (ATR) over a specified period (default is 20 periods).
A candle is identified as a Bearish Elephant Candle if the body is more than 70% of the entire range, and the total range exceeds the average true range.
Short Entry Signal:
When a Bearish Elephant Candle is identified, a short entry signal is plotted on the chart as a red downward label.
Exponential Moving Average (EMA):
A 20-period EMA is plotted on the chart to help users visualize the overall trend. The EMA can serve as an additional filter or exit point for trades.
Pros:
Simplicity: The Bearish Elephant Candle pattern is straightforward to understand and identify.
Visual Signals: The indicator provides clear visual signals for potential short entries, making it easy for traders to spot opportunities.
Trend Visualization: The inclusion of the EMA helps traders stay aligned with the overall trend, potentially improving the effectiveness of the signals.
Cons:
False Signals: Like any pattern-based indicator, it can generate false signals, especially in choppy or sideways markets.
No Confirmation: This version of the indicator does not include additional confirmation signals (e.g., from other indicators like MACD), which may reduce its reliability.
Limited Scope: The indicator focuses solely on bearish signals and does not provide long entry signals.
Best Way to Use It:
Trend Alignment: Use the 20-period EMA to ensure you are trading in the direction of the overall trend. For example, prioritize short signals when the price is below the EMA.
Combine with Other Indicators: Enhance the reliability of the signals by combining this indicator with other technical indicators (e.g., MACD, RSI) for additional confirmation.
Risk Management: Always use proper risk management techniques, such as stop-loss orders, to protect against adverse market movements. Consider placing stop-loss orders above the high of the Bearish Elephant Candle.
Market Context: Be mindful of the broader market context and avoid using the indicator in highly volatile or news-driven environments where patterns may be less reliable.
Multi-Timeframe MA Levels█ OVERVIEW
This Pine Script is an indicator for displaying multiple moving average (MA) levels from several timeframes on your TradingView charts. At the Realtime Bar (the right-most bar on your chart), it draws a line where the various moving averages currently are.
For example, it will show you where the 8 EMA on the 5 minute timeframe is on your 1-minute timeframe chart.
It derives its look and function from "Lepelle's Key Levels" and focuses on visualizing various moving averages to complement this indicator.
█ FEATURES
1 — Multi-Timeframe Analysis:
• The script allows traders to view moving averages from different timeframes on a single chart.
This multi-timeframe approach helps identify significant levels and trends that might not be apparent when looking at a single timeframe.
2 — Customization and Flexibility:
• Extensive input options for customizing the appearance of the lines (width, style, color) and labels (size, position, distance from price).
This ensures that the indicator can be tailored to individual preferences and charting styles.
3 — Multiple Moving Averages:
• Support for various types of moving averages (8 EMA, 21 EMA, 50 SMA, 100 SMA, 200 SMA).
Each moving average can be individually enabled or disabled for specific timeframes,
providing a flexible tool for technical analysis.
█ SETTINGS
Inputs for Styling:
• Controls the appearance of the lines and labels.
• Includes options for line width, line style, text size, distance from the candlesticks, label position,
and whether to hide prices or use shorthand notation.
Moving Averages Settings:
• Inputs to select different moving averages (8 EMA, 21 EMA, 50 SMA, 100 SMA, 200 SMA) and their corresponding colors.
• Boolean inputs to enable or disable these moving averages on various timeframes (2 min, 5 min, hourly, daily).
█ SUMMARY
In essence, this script provides a comprehensive tool for technical analysis by combining multi-timeframe moving averages into a single, customizable, and user-friendly indicator. It enhances traders' ability to make informed decisions by providing clear visual representations of key moving average levels across different timeframes.
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█ LIMITATIONS
This script is best used with a short timeframe such as 1-minute or lower because of the limitations of Multi-Timeframe scripts. Basically, the alternate timeframes in use should always be higher than the chart timeframe.
═════════════════════════════════════════════════════════════
█ NOTES
This indicator is intended to complement and be used with "Lepelle's Key Levels" indicator.
In that indictor settings, I recommend turning off the 5 Daily timeframe moving average levels in that script, if using this one.
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Supply & Demand (MTF) | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Supply and Demand (MTF) Indicator! This new indicator renders Supply and Demand zones based on momentum candles. It can detect Supply and Demand zones across up to 3 diferent timeframes. It's capable of combining zones, retest & break labels and it's customizable with invalidation and style settings.
Features of the new Supply and Demand (MTF) Indicator:
Renders Supply and Demand Zones Across 3 Timeframes
Combination Of Overlapping Zones
Retest & Break Labels
Retest & Break Alerts
Enable / Disable Historic Zones
Visual Customizability
📌 HOW DOES IT WORK ?
Supply and Demand is a key concept in trading. It helps traders see the zones that market-makers buy & sell the asset in large amounts. It's detected by finding momentum candles (candles that have large bodies) in a row.
Momentum candles are defined to have a larger body than the average candle in the chart, and at least 4 of them in a row is required to draw a supply or demand zone. The zone is drawn from the high wick to low wick of two candles before the first momentum candle in the row.
Check this example :
These zones are usually where market makers trade the asset in larger amounts. Thus, they act as support & resistance zones by their nature. A retest of these zones can make the price bounce to the opposite direction, while a breakout usually means strong price action momentum is incoming in that direction. Supply zones indicate bearish momentum while demand zones indicate bullish momentum.
Check this example :
Here a Supply Zone (Bearish) forms. Then price comes back up to test the zone, and it fails to break. After the failed attemp, a stong bearish momentum takes the price back to a lower level. Then another test of the zone occurs and successfully breaks the zone this time. This breakout starts a bullish momentum that takes the price to a higher level.
🚩UNIQUENESS
This indicator provides Supply and Demand zones in your chart with pure simplicity. It supports up to 3 different timeframes as we believe supporting your trades with higher timeframes can improve your trading experience. It also gets rid of complexity by combining overlapping zones into a single zone, even if they are from different timeframes! You can also set-up alerts to get notified when a supply or demand zone is being retested, or is broken. Overall, this indicator is the ultimate kit for supply and demand zones.
⚙️SETTINGS
1. General Configuration
Max Distance To Last Bar -> The maximum distance that the indicator will render supply and demand zones from. Higher settings mean rendering older supply and demand zones.
Zone Invalidation -> Select between Wick & Close price for Supply and Demand Zone Invalidation.
Retests & Breaks -> Enable retest & break labels in your chart.
Show Historic Zones -> This will show historic supply & demand zones which are invalidated if enabled. You can disable this to only see active supply and demand zones for a simpler chart.
2. Timeframes
You can set up to 3 different timeframes and enable / disable them using the checkboxes in this section.
Higher Timeframe High & Low [ChartPrime]The Higher Timeframe High & Low Indicator plots key levels (high, low, and average price) from a higher timeframe onto the current chart, aiding traders in identifying significant support and resistance zones.
The indicator also detects and labels breakout points and can display trend directions based on these higher timeframe levels breakout points.
Key Features:
◆ Higher Timeframe Levels:
Plots the high, low, and average price from a selected higher timeframe onto the current chart.
Extends these levels into the future for better visualization.
◆ Breakout Detection:
Identifies and labels breakouts above the higher timeframe high or below the higher timeframe low.
Breakout points are clearly marked with labels indicating "High Break" or "Low Break" with timeframe mark.
If the following break out type is the same that previous, it does not marked by labels, but still marked by bar color.
◆ Trend Visualization:
Optionally displays trend direction by changing bar colors and line styles based on breakout conditions.
Trend indication helps in identifying bullish or bearish market conditions.
◆ Support and Resistance Indication:
Marks support and resistance points with '◆' symbols when the current timeframe's high or low interacts with the higher timeframe's levels.
◆ Period separation:
Background color changes to indicate period separation if enabled.
◆ Inputs:
Extension to the right of High and Low: Sets the number of bars to extend the high and low lines into the future.
Timeframe: Selects the higher timeframe (e.g., Daily) to use for plotting high and low levels.
Period Separator: Toggles the visual separator for periods.
Show Trend?: Toggles the trend visualization, changing bar colors and plot styles based on breakouts.
Show Breakout Labels?: Toggles the Breakout Labels visualization.
Indicator Logic:
Historical vs. Real-Time Bars: Adjusts values based on whether the bar is historical or real-time to ensure accurate plotting.
High and Low Prices: Retrieves the high and low prices from the selected higher timeframe.
Breakout Conditions: Determines if the current price has crossed above the higher timeframe high (high break) or below the higher timeframe low (low break).
Color and Trend Logic: Adjusts colors and checks for breakouts to avoid multiple labels and indicate trend direction.
Usage Notes:
This indicator is ideal for traders looking to integrate multi-timeframe analysis into their strategy.
The higher timeframe levels act as significant support and resistance zones, helping traders identify potential reversal or continuation points.
The breakout labels and trend visualization provide additional context for trading decisions, indicating when the price has breached key levels and is likely to continue in that direction.
This indicator enhances chart analysis by providing clear, visual cues from higher timeframe data, helping traders make more informed decisions based on a broader market perspective.
Multi-Frame Market Sentiment DashboardOverview
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, center, or right, ensuring optimal integration with other chart elements.
Customizable Colors:
Sentiment Colors: Users can define colors for bullish, bearish, and neutral market conditions, enhancing the dashboard's readability.
Text Color: Customizable text color ensures clarity against various background colors.
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: 1 minute, 3 minutes, 5 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, and 1 day. 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.
Color Coding: Depending on the sentiment (Bullish, Bearish, or Neutral), the corresponding cell in the table is color-coded using predefined colors.
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, colors, 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.
RSI Multiple TimeFrame, Version 1.0RSI Multiple TimeFrame, Version 1.0
Overview
The RSI Multiple TimeFrame script is designed to enhance trading decisions by providing a comprehensive view of the Relative Strength Index (RSI) across multiple timeframes. This tool helps traders identify overbought and oversold conditions more accurately by analyzing RSI values on different intervals simultaneously. This is particularly useful for traders who employ multi-timeframe analysis to confirm signals and make more informed trading decisions.
Unique Feature of the new script (described in detail below)
Multi-Timeframe RSI Analysis
Customizable Timeframes
Visual Signal Indicators (dots)
Overbought and Oversold Layers with gradual Background Fill
Enhanced Trend Confirmation
Originality and Usefulness
This script combines the RSI indicator across three distinct timeframes into a single view, providing traders with a multi-dimensional perspective of market momentum. It also provides associated signals to better time dips and peaks. Unlike standard RSI indicators that focus on a single timeframe, this script allows users to observe RSI trends across short, medium, and long-term intervals, thereby improving the accuracy of entry and exit signals. This is particularly valuable for traders looking to align their short-term strategies with longer-term market trends.
Signal Description
The script also includes a unique signal feature that plots green and red dots on the chart to highlight potential buy and sell opportunities:
Green Dots : These appear when all three RSI values are under specific thresholds (RSI of the shortest timeframe < 30, the medium timeframe < 40, and the longest timeframe < 50) and the RSI of the shortest timeframe is showing an upward trend (current value is greater than the previous value, and the value two periods ago is greater than the previous value). This indicates a potential buying opportunity as the market may be shifting from an oversold condition.
Red Dots : These appear when all three RSI values are above specific thresholds (RSI of the shortest timeframe > 70, the medium timeframe > 60, and the longest timeframe > 50) and the RSI of the shortest timeframe is showing a downward trend (current value is less than the previous value, and the value two periods ago is less than the previous value). This indicates a potential selling opportunity as the market may be shifting from an overbought condition.
These signals help traders identify high-probability turning points in the market by ensuring that momentum is aligned across multiple timeframes.
Detailed Description
Input Variables
RSI Period (`len`) : The number of periods to calculate the RSI. Default is 14.
RSI Source (`src`) : The price source for RSI calculation, defaulting to the average of the high and low prices (`hl2`).
Timeframes (`tf1`, `tf2`, `tf3`) : The different timeframes for which the RSI is calculated, defaulting to 5 minutes, 1 hour, and 8 hours respectively.
Functionality
RSI Calculations : The script calculates the RSI for each of the three specified timeframes using the `request.security` function. This allows the RSI to be plotted for multiple intervals, providing a layered view of market momentum.
```pine
rsi_tf1 = request.security(syminfo.tickerid, tf1, ta.rsi(src, len))
rsi_tf2 = request.security(syminfo.tickerid, tf2, ta.rsi(src, len))
rsi_tf3 = request.security(syminfo.tickerid, tf3, ta.rsi(src, len))
```
Plotting : The RSI values for the three timeframes are plotted with different colors and line widths for clear visual distinction. This makes it easy to compare RSI values across different intervals.
```pine
p1 = plot(rsi_tf1, title="RSI 5m", color=color.rgb(200, 200, 255), linewidth=2)
p2 = plot(rsi_tf2, title="RSI 1h", color=color.rgb(125, 125, 255), linewidth=2)
p3 = plot(rsi_tf3, title="RSI 8h", color=color.rgb(0, 0, 255), linewidth=2)
```
Overbought and Oversold Levels : Horizontal lines are plotted at standard RSI levels (20, 30, 40, 50, 60, 70, 80) to visually identify overbought and oversold conditions. The areas between these levels are filled with varying shades of blue for better visualization.
```pine
h80 = hline(80, title="RSI threshold 80", color=color.gray, linestyle=hline.style_dotted, linewidth=1)
h70 = hline(70, title="RSI threshold 70", color=color.gray, linestyle=hline.style_dotted, linewidth=1)
...
fill(h70, h80, color=color.rgb(33, 150, 243, 95), title="Background")
```
Signal Plotting : The script adds green and red dots to indicate potential buy and sell signals, respectively. A green dot is plotted when all RSI values are under specific thresholds and the RSI of the shortest timeframe is rising. Conversely, a red dot is plotted when all RSI values are above specific thresholds and the RSI of the shortest timeframe is falling.
```pine
plotshape(series=(rsi_tf1 < 30 and rsi_tf2 < 40 and rsi_tf3 < 50 and (rsi_tf1 > rsi_tf1 ) and (rsi_tf1 > rsi_tf1 )) ? 1 : na, location=location.bottom, color=color.green, style=shape.circle, size=size.tiny)
plotshape(series=(rsi_tf1 > 70 and rsi_tf2 > 60 and rsi_tf3 > 50 and (rsi_tf1 < rsi_tf1 ) and (rsi_tf1 < rsi_tf1 )) ? 1 : na, location=location.top, color=color.red, style=shape.circle, size=size.tiny)
```
How to Use
Configuring Inputs : Adjust the RSI period and source as needed. Modify the timeframes to suit your trading strategy.
Interpreting the Indicator : Use the plotted RSI values to gauge momentum across different timeframes. Look for overbought conditions (RSI above 70, 60 and 50) and oversold conditions (RSI below 30, 40 and 50) across multiple intervals to confirm trade signals.
Signal Confirmation : Pay attention to the green and red dots that provide signals to better time dips and peaks. dots are printed when the lower timeframe (5mn by default) shows sign of reversal.
These signals are more reliable when confirmed across all three timeframes.
This script provides a nuanced view of RSI, helping traders make more informed decisions by considering multiple timeframes simultaneously. By combining short, medium, and long-term RSI values, traders can better align their strategies with overarching market trends, thus improving the precision of their trading actions.
Lower Timeframe Volume BarsDescription:
The Lower Timeframe Volume Bars indicator enhances your TradingView experience by allowing you to visualize volume data from lower timeframes on your current chart. This powerful tool helps you gain deeper insights into volume trends and activity that are not immediately visible on higher timeframe charts. Specifically, it shows the volume data from the last bar of the selected lower timeframe.
Key Features:
Volume Bars from Lower Timeframes:
Display volume data from 1-minute or 1-second timeframes directly on higher timeframe charts, such as 15 minutes or 1 hour.
Each volume bar represents the aggregated volume from the lower timeframe within the selected higher timeframe period.
Enhanced Volume Analysis:
Gain a more detailed understanding of volume spikes and troughs that may be hidden in higher timeframe charts.
Identify potential market turning points and confirm trends with precise volume data.
Customizable Display:
Adjust the appearance of volume bars to fit your chart style and preferences.
Configure settings such as color, size, and positioning of volume bars for optimal visibility and clarity.
Seamless Integration:
Easily add the indicator to any chart in TradingView with a few clicks.
Works in conjunction with other technical indicators and tools to provide a comprehensive analysis environment.
How to Use:
Add the Lower Timeframe Volume Bars indicator to your chart.
Select the lower timeframe you wish to fetch volume data from (e.g., 1-minute or 1-second).
Customize the display settings to match your charting style.
Observe the volume bars overlaying your current chart to analyze volume activity across different timeframes, specifically showing the last bar's volume.
Use the detailed volume information to make informed trading decisions and enhance your market analysis.
Benefits:
Increased Clarity: See detailed volume activity that is often lost in higher timeframe aggregation.
Better Decision Making: Make more informed trading decisions with a clear view of volume trends and spikes.
Improved Trend Confirmation: Use lower timeframe volume data to confirm the strength and sustainability of market trends.
Enhance your trading strategy and gain a deeper understanding of market dynamics with the Lower Timeframe Volume Bars indicator. Visualize, analyze, and trade with confidence by leveraging detailed volume insights from lower timeframes.
