Volatility FilterThe "Volatility Filter" script is designed to measure market volatility across two different timeframes and determine whether the market is flat or trending.
It uses custom-tuned versions of four different indicators to measure volatility and distinguish between trending and ranging conditions.
The selected indicators are:
1 - Average Directional Index (ADX) Volatility
2 - Damiani Volameter
3 - Trader Pressure Index (TPI)
4 - Williams Alligator Indicator
The script calculates a filter score for both the current timeframe and a user-specified higher timeframe. It offers two types of filter scores, controlled by the 'FilterType' parameter. The filter score is then visualized on the chart as the main oscillator for the current timeframe and a filled bar for the higher timeframe.
The script utilizes a custom moving average function that provides 17 different ways to calculate a moving average, giving the user extensive flexibility in tailoring the script to their needs.
By using custom indicators and unique score calculation methods across two timeframes, this script provides a comprehensive measure of market volatility, aiding traders in identifying trending and ranging market conditions.
This script also provides two additional parameters for tuning its calculations and output, allowing to adjust the script to any trading style and the characteristics of the market being traded.
1 - Threshold: This parameter sets a threshold that the oscillator needs to surpass for the current market move to be considered as a trend. By adjusting the threshold, traders can control how much volatility is required to register a move as trending. A higher threshold will require more volatility for a trend to be recognized, meaning that the market needs to be moving more strongly for a trend to be identified.
2 - Length: This parameter is used to smooth the oscillator. It determines the number of periods used in the calculation of the moving average of the volatility filter score. A longer length will consider more data points and therefore provide a smoother line, which can be useful in accounting for the fading of trends. When trends start to lose their strength but are still present, a longer length can help in maintaining the recognition of the trend, aiding in making accurate trading decisions.
By adjusting these parameters, traders can fine-tune the script's sensitivity to market volatility and its recognition of trends, providing valuable flexibility in adapting to different market conditions and trading strategies.
Multitimeframe
Advanced Cumulative TrendThis is advanced version of Cumulative trend Indicator. The "Advanced Cumulative Trend" indicator calculates the strength and direction of a market trend by incorporating volume and volatility adjusted price changes. It uses various time frames to compute intermediate metrics such as price change, intraday volatility, and volume adjustments. Traders can customize the indicator by selecting which calculations to include in the average, allowing for personalized trend analysis. The indicator then derives the cumulative sum of the average volume and volatility adjusted price change to evaluate the overall trend direction. Additionally, users have the flexibility to toggle between two visualization options: the ROC histogram and the average cumulative sum for trend analysis. They can choose to display either the ROC histogram or the average cumulative sum (trend) plot separately, based on their preference or focus. providing valuable insights into trend momentum and potential reversals. (DO NOT HAVE BOTH ON SAME PLOT IT MAKES VISULIZATION HARD)
The primary calculation remains the same but it calculates the volume and volatility adjusted price on three different time frames and Users can customize the indicator by selecting which calculations (time frame) to include in the average," it means that the code allows traders or analysts to have control over which specific calculations are used to compute the average volume and volatility adjusted price change. The indicator offers flexibility in choosing the underlying data points and time frames that contribute to the final trend analysis.
In the code, this customization is achieved through the use of three input options: useCalculation1, useCalculation2, and useCalculation3. Each of these options corresponds to a specific set of volume and volatility adjusted price change calculations with different time frames.
For example, if a user wants to include calculations based on a shorter time frame, they can enable useCalculation1. If they prefer calculations based on a longer time frame, they can enable useCalculation3. If they don't want to include a particular calculation in the average, they can simply disable the corresponding option.
By selecting or deselecting these options, users can tailor the indicator to their trading preferences and strategies. This flexibility allows them to experiment with different combinations of calculations to gain deeper insights into the trend's behavior across various time frames. Ultimately, the ability to customize the indicator empowers users to adapt it to different market conditions and improve the accuracy of their trend analysis.
Calculation of Volume and Volatility Adjusted Price Change:
The term "previous" refers to the average of the previous data points over a defined length. Instead of considering the exact previous data point, the code calculates the average of a specific number of preceding data points. It enables the consideration of multiple preceding values, resulting in a smoother representation of trends and a more robust analysis of the data
The indicator starts by calculating the price change as a percentage relative to the previous opening price.
It determines the standard deviation of the close prices, providing a measure of price volatility.
The coefficient of variation is calculated by comparing the standard deviation to the previous close price.
Intraday volatility is calculated as the difference between the high and low prices divided by the close price.
Various ratios are derived by comparing the current volume to the previous volume and relating the intraday volatility to the coefficient of variation.
Cumulative Sum:
The Volume and Volatility Adjusted Price Change values are cumulatively summed to form the cumulative sum.
This cumulative sum represents the overall trend of the price changes, incorporating the impact of volume and volatility.
Average Cumulative Sum:
The average cumulative sum is calculated by applying a simple moving average to the cumulative sum over a specified window size.
This moving average helps smooth out the cumulative trend and highlights the general direction of the price changes.
Average Cumulative Sum Change:
The change in the average cumulative sum is determined by subtracting the previous average cumulative sum value from the current value.
This calculation provides insights into the rate of change in the cumulative trend.
Color Determination:
Thresholds are introduced to define levels at which the trend is considered to change.
The average cumulative sum change is compared against these thresholds.
If the average cumulative sum change exceeds the upper threshold, the color is set to green, indicating a potential upward trend.
If the average cumulative sum change falls below the lower threshold, the color is set to red, indicating a potential downward trend.
If the average cumulative sum change is within the threshold range, the color is set to a yellowish tone, indicating a neutral or transitional phase.
Plotting:
The average cumulative sum is plotted as a line on the chart.
The color of the line is determined based on the calculated color value, reflecting the perceived trend direction.
In summary, the Cumulative Trend indicator integrates volume, volatility, and price changes to provide a cumulative perspective on the trend. It tracks the cumulative price changes, calculates the average trend, and visually represents potential trend shifts through color changes. Traders and analysts can utilize this indicator to identify and monitor changes in the underlying trend, aiding in decision-making and market analysis.
Buyers & Sellers / RangeBuyers & Sellers / Range
Volatility oscillator that measures the relationship of Buying & Selling Pressure to True Range.
In other words, how much % Buyers and Sellers separately occupy the Bar
BSP is a part of Bar Range. Entire bar metrics will always have bigger value than its composite elements (body and wicks).
Since there will be NO chance of BP or SP being more than ATR, their ratio would serve crucial Volatility details.
Hence, we can relate each of them to the overall range.
As a result we have simultaneous measurements of proportions buyers and sellers to the bar.
Default mode shows BP/ATR and SP/ATR mirrored. When one rises, the other falls to compensate.
Buying Pressure / True Range ⬆️🟢 ⬇️🔵
Selling Pressure / True Range ⬆️🔴 ⬇️🟠
They are being averaged in 2 different ways:
Pre-average first, then relate as ratio
Related first, then Averaged
Enable "Preaveraged" to use already averaged BSP and Ranges in ratio instead of averaging the ratio of BSP to individual bar. For example, we're looking BP/ATR, in calculation of buyers / Range it will use "MA(Buying Pressure) / MA(True Range)" instead of "MA(Buying Pressure / True Range)".
Due such calculation, it is going to be more lagging than in off mode. Nevertheless, it reduces noise from the impact of individual bar change.
Second way of noise reduction is enabling "Body / Range"
BSP Body / Range where Bullish & Bearish Body = Buying & Selling Pressure - Relevant Wick
Buying Body = Buying Pressure - Lower Wick
Selling Body = Selling Pressure - Upper Wick
And only then it is divided to ATR.
Note that Balance line differs because body is less than it used to be with wicks. So change in wicks won't play any role in computing the ratio anymore. Thus, signals of their crossings will be more reliable than in default mode.
Yesterday's High v.17.07Yesterday’s High Breakout it is a trading system based on the analysis of yesterday's highs, it works in trend-following mode therefore it opens a long position at the breakout of yesterday's highs even if they occur several times in one day.
There are several methods for exiting a trade, each with its own unique strategy. The first method involves setting Take-Profit and Stop-Loss percentages, while the second utilizes a trailing-stop with a specified offset value. The third method calls for a conditional exit when the candle closes below a reference EMA.
Additionally, operational filters can be applied based on the volatility of the currency pair, such as calculating the percentage change from the opening or incorporating a gap to the previous day's high levels. These filters help to anticipate or delay entry into the market, mitigating the risk of false breakouts.
In the specific case of INJ, a 12% Take-Profit and a 1.5% Stop-Loss were set, with an activated trailing-stop percentage, TRL 1 and OFF 0.5.
To postpone entry and avoid false breakouts, a 1% gap was added to the price of yesterday's highs.
Name: Yesterday's High Breakout - Trend Follower Strategy
Author: @tumiza999
Category: Trend Follower, Breakout of Yesterday's High.
Operating mode: Spot or Futures (only long).
Trade duration: Intraday.
Timeframe: 30M, 1H, 2H, 4H
Market: Crypto
Suggested usage: Short-term trading, when the market is in trend and it is showing high volatility.
Entry: When there is a breakout of Yesterday's High.
Exit: Profit target or Trailing stop, Stop loss or Crossunder EMA.
Configuration:
- Gap to anticipate or postpone the entry before or after the identified level
- Rate of Change for Entry Condition
- Take Profit, Stop Loss and Trailing Stop
- EMA length
Backtesting:
⁃ Exchange: BINANCE
⁃ Pair: INJUSDT
⁃ Timeframe: 4H
- Treshold: 1
- Gap%: 1
- SL: 1.5
- TP:12
- TRL: 1
- OFF-TRL: 0.5
⁃ Fee: 0.075%
⁃ Slippage: 1
- Initial Capital: 10000 USDT
- Position sizing: 10% of Equity
- Start : 2018-07-26 (Out Of Sample from 2022-12-23)
- Bar magnifier: on
Credits: LucF for Pine Coders (f_security function to avoid repainting using security)
Disclaimer: Risk Management is crucial, so adjust stop loss to your comfort level. A tight stop loss can help minimise potential losses. Use at your own risk.
How you or we can improve? Source code is open so share your ideas!
Leave a comment and smash the boost button!
Thanks for your attention, happy to support the TradingView community.
Scalping The Bull - BullBot for Stock and ForexName : Scalping The Bull - BullBot for Stock and Forex.
Category : Scalping tool for the Stock and Forex market, optimized for trend following and mean reversal operations.
Timeframe : Recommended to be used on timeframe 1m, 5m, 30m, 1h, 1D, depending on the specific technique.
Technical Analysis : The indicator implements the trading techniques of Scalping The Bull. Even if the techniques are exquisitely discretionary, we have written the indicator with our interpretation of the them to identify the patterns automatically. We also codified a the process described below, giving the possibility to trade mechanically. The indicator is designed for a short-term (intraday or scalping) trend-following approach, where the entry is made on the breakout of significant price levels. Entry setups are calculated by price action analysis using 5-10-50-200 EMAs as reference. According to the interaction of price action with the EMAs, patterns are generated, and the indicator finds them independently.
Suggested use :
The process follows:
1. Selection of the instrument to trade on
Given the short duration of the trades, there must be sufficient volatility and liquidity. You can add the different instruments to a TradingView watch list and then make a first skim, considering the daily percentage change. Once an instrument has been selected, the indicator allows you to check at a glance things like the Rate of Change (ROC) and the detection of opening gaps.
2. Identification of the main trend
Once in the instrument, the main trend of the underlying is identified through the 50-200 EMAs: if the fast EMA is greater than the slow one, we have a bullish trend, otherwise a bearish trend on a higher timeframe than the one in which the trade is executed. The rule is to trade in favor of the main trend. For this reason, the indicator prints to chart reference averages. It is also recommended to check the daily timeframe, always using the averages, preferring those instruments where the price follows an average without touching it too often.
3. Identification of breakout levels
Breakout levels favoring the trend are identified near the daily high/minimum, the previous day's high/minimum, or the weekly high/minimum. The indicator prints such levels on the chart with lines.
4. Identification of secondary trends and entry levels
Patterns can be divided into three categories. Trend-based ones have the function of identifying the secondary trend and then confirming the trade. Breakout patterns are used to find entry levels.
a. Trend Continuation Patterns (Price/EMA) : are used to get confirmation that the minor trend is in agreement with the major trend (i.e., Shimano, Dive, Dip, Anti-crossing).
b. Trend Change Patterns (Price/EMA) : are used to get confirmation that a minor trend in the opposite direction of the main trend is ending and therefore are used to get further confirmation of the trade (i.e., Bounce, Viagra, Return to Highs/Minimums).
c. Breakout Patterns : identify the optimal price levels for trade entry (i.e., Third Touch, Bud, Maxi Bud, Color Change).
Details on how the specific patterns are computed can be found below in the description of this indicator.
5. Definition of Stop Loss and Take Profit
Once the entry price is calculated, different types of Stop Loss (e.g., relative minimum of Tot candles, first or second average below price, price levels) and Take Profit (relative maximum of Tot candles, first or second average above price, price levels) can be considered. A risk/reward ratio of at least 1.2 should always be considered, depending on one's risk appetite.
6. Define the position management strategy
Normally, when a mock breakout is executed, the advice is to exit the trade as soon as possible or at least to bring the stop-loss to break even. A trailing stop on relative lows or the nearest average is also possible.
7. Enter the position
Usually, with a stop order, follow the rules defined in the previous steps.
Configuration :
Graphical configuration :
Show ROC filter : turns the background green when the asset has enough volatility to activate patterns.
Show Legend : enables the description on the lines of the trigger points.
Show Table : displays the volatility table where the GAP and ROC (Rate of Change) information is present.
Show Take Profit % - Automatic : shows the percentage scale that automatically adjusts to the volatility of the chart to identify the Take Profit and Stop Loss at a glance.
Label color : adjusts the color of the labels.
Trigger Point Colors : Adjust the colors of the trigger points.
Trigger Points
Today's highs and lows : draw on the chart the closing price of Yesterday, the opening price of the daily candlestick, and the highs and lows of the day (high in purple, low in red, Yesterday's close in green, and open in orange).
Yesterday's highs and lows : draw on the chart the highs and lows of the previous day (high in yellow, low in red). An alert can be activated with a % offset.
Weekly highs and lows : draw the highs and lows of the previous week on the chart (high in white, low in red). An alert can be activated with a % offset.
Price Patterns :
Gap : a label and an alert can be activated.
Pay..!! : a label and an alert can be activated.
Third Touch and Third Touch on EMA : a label and an alert can be activated.
Return to Highs : a label and an alarm can be activated.
Return to Lows : a label and an alarm can be activated.
Long and Short Color Change : a label and an alert can be activated.
EMA Patterns :
Viagra long and short : a label and an alert can be activated for the specific market and EMA situations.
Shimano : a label and an alert can be activated with a configurable candlestick threshold.
Emergence - Dive : a label and an alert can be activated.
Anti-crossing - Anti-crossing short : a label and an alarm can be activated.
Bounce on EMA long and short : a label and an alert can be activated with a configurable tick tolerance.
Bud - Maxi Bud - Bud Short : a label and an alert can be activated on all timeframes.
Alerts :
Activate all alerts : you can activate alerts by clicking on Alerts, then on the condition "BullBot" and then on "Any alert() function.". So that you know, creating alerts on the price-EMA crossing is also possible.
Patterns :
The list of patterns that are automatically recognized by the indicator follows.
Gap : indicates when a Gap Up or Gap Down occurs at the opening of a session, particularly useful in the equity markets.
Pay : signals when the stock has risen by a sufficient percentage to be tradable, adjusts the triggering of many bounce and breakout patterns.
Viagra : signaled for both a long and short setup, indicates an overbought or oversold situation by the appearance of gaps and a series of consecutive candles contained by the fast EMAs (5 -10) depending on the market of reference.
Third touch and third touch EMA : signals a breakout conformation, indicated when three touches occur at the same price level or below one of the slow EMAs (50 - 200).
Shimano : detects lateralization between Ema 50 and Ema 200, indicating that we are in a retracement phase and that a new impulsive move may soon develop.
Emergence - Dive : these are the main patterns for identifying the trend. The indicator signals when the EMA 50 and 200 are approaching to anticipate their crossing to the top or bottom.
Anti-crossing long - Anti-crossing short : occurs when the price, after an important impulse, makes a retracement to the EMA 200, bringing the EMA 50 to approach it without ever touching it, but before the cross, an opposite impulse determines the end of the retracement and the resumption of the trend in place.
Rebound : signals in the first rebound on the EMA 50 and EMA 200 after an impulse that recorded new highs or lows.
Return to the Highs - Return to the Lows : this pattern is closely related to rebounds. It indicates that the price is approaching the highs or lows again after a rebound on a slow EMA.
Change Color : is based on the previous session's closing price. It indicates when the price is approaching either from above or below this level, which determines the Color of the daily candlestick.
Bud - Maxi Bud - Bud Short : Bud occurs when the price breaks above EMA 10, and there are at least two consecutive candles between the high and low of the breakout impulse. Maxi Bud signals near the day's highs when this situation occurs, and Bud Short signals the breakout levels for a short trade.
MACD Higher TimeFrameThis Pine script is an indicator called "MACD Higher TimeFrame" that calculates and displays the Moving Average Convergence Divergence (MACD) on a higher timeframe. It is designed to be used on a lower timeframe chart but show the MACD values from a specified higher timeframe.
The indicator takes several inputs, including the fast length, slow length, source data, signal smoothing length, and the types of moving averages to be used for the MACD and signal lines. The default values are set to 12, 26, the closing price, 9, and exponential moving averages (EMA) for both lines, respectively. These inputs can be modified by the user.
The script calculates the MACD and signal lines based on the specified inputs and the source data. It uses the `init_ma` function to initialize the moving average calculation based on the selected moving average type (EMA or SMA) and length.
To display the MACD and signal lines from the higher timeframe, the script utilizes the `request.security` function, fetching the values of MACD and signal lines one bar ago on the higher timeframe. It handles any gaps in data and lookahead considerations.
The script also includes a function called `int_htf_fillna`, which handles the filling of `na` (not available) values for the higher timeframe indicators. It ensures that the indicator values are carried forward if they are not available for a particular bar.
To enhance the visualization, the script includes customizable colors for the MACD line, signal line, and histogram bars. The histogram bars are styled using the `plot.style_columns` option, and their color is determined by the `color_handle_ducplicate_value` function. This function checks for duplicate values and assigns colors based on whether the indicator is rising or falling, and whether it is above or below zero.
The script also includes a zero line (color #787B86) to provide a visual reference for the zero level.
Overall, this Pine script allows users to view the MACD indicator from a higher timeframe on a lower timeframe chart, providing insights into the broader market trend.
Evolution Ranger V2This indicator plots 4H and 15M ranges and fractals.
The ranges are formed by the fractals and breaks of these candles
It also shows in a label if the trend BIAS on the 4H is "UC, NFT, FT or SFT" (Long or Short)
This will give the user a BIAS for the coming trading day. So when price breaks out of the plotted range, you'll have a new bias trend change
If it trading within the range, the trend bias remains the same
UC = unconfirmed Bias => wait
NFT= No follow through => Take only trades in the opposite direction from the break
FT = Follow through. => Wait for price to retrace to the other side of the 4H range, than trade in the direction of the BIAS
SFT = Strong follow through => Take trades in the direction of the BIAS anywhere in the 4H range
It draws all the range lines you need, so you don't have to.
4H Range (also on 15M), on the 15M; external and internal ranges.
Lots of possibilities:
-Plots the fractals, so you don't need another indicator. (Option to let the fractals repaint or not)
-4H Fractal Range lines and BIAS (previous fractal break line) and a 4H-BIAS label both on the M15 and 4H charts. No more switching between 4H and 15M charts needed.
-Option to switch on/off historic ranges.
-BIAS label shows 'UC, NFT, FT and SFT' - Long and Short
-Lots of alerts, break of 4H range, 15M external and internal ranges. You can go wild with it. Select 'Alert Once per bar'
-Option to show the 'Inside bar' and in a different candle colour.
-Option to toggle the repaint of fractal when the current candle has not closed yet.
-Option to show the BIAS label only for a confirmed bar while trading in live markets. When 'Off' the BIAS label repaints, but gives information on what might come, when the current bar closes.
-Most of the lines can be adjusted for colour and style to your own liking.
20/200MAs+LTF+4HTF and HighLowBox+3HTF20/200MAs
Shows 20 and 200 MAs in each TFs(tfChart,1 Lower and 4 Higher).
TFs:
current TF
Lower TF (default: lower1)
Higher TF1 (default: higher1)
Higher TF2 (default: higher1)
Higher TF3 (default: higher1)
Higher TF4 (default: higher1)
MAs:
20MA (default: sma)
1st 200MA (default: sma)
2nd 200MA (default: ema)
VWAP (optional)
HighLowBox+3HTF
Enclose in a square high and low range in each timeframe.
Shows price range and duration of each box.
In current timeframe, shows Fibonacci Scale inside(23.6%, 38.2%, 50.0%, 61.8%, 76.4%)/outside of each box.
Outside(161.8%,261.8,361.8%) would be shown as next target, if break top/bottom of each box.
1st box for current timeframe.
2nd box for higher timeframe.(default: higher1)
3rd box for higher timeframe.(default: higher2)
4th box for higher timeframe.(default: higher3)
static timeframes can also be used.
RSI Multi Timeframe Based on Moving Average By Alireza PhoenixHi. I have prepared for you the multi-time frame RSI indicator based on moving average
You can use it in three different time frames
Open the settings and put the value you want in the Time 1 and Time 2 fields
In the fast and slow section, specify the length of the moving period of fast and slow origins as desired
In the offset section, you can add or reduce the time interval as you wish
This indicator shows you the RSI index in three different time frames along with two different lengths of the moving average based on the RSI index.
You can use this indicator in all financial, forex or crypto markets
The crossing of RSI and moving average lines in different time frames and lengths will give you a buy or sell signal.
Whenever the faster line or smaller RSI total frame succeeds in breaking the slower line or the RSI time is higher than the low, a free signal is issued and vice versa.
I do not guarantee that 100% of the issued signals are accurate and correct, and I have coded this indicator only for your convenience.
I hope you can get help from this indicator and make profit
Love From IRAN
PhaseAlgo PremiumPhaseAlgo Indicator includes multiple features such as standard buy and sell signals on the chart, key levels, trend direction & trend candle momentum.
There are two main settings used to determine the sensitivity of the buy and sell signals which are:
- The "Power" setting controllers how reactive the algorithm reacts to the simple trend changes in the market. This allows you to adjust the sensitivity to relatively fit your preferred trading time frame.
- The "Strength" setting controllers how accurate the buy & sells are in correspondence with the most recent swing in the market. This allows you to refine the signals based on the current time frame you are on to give the most accurate entries.
We also provide a trend filter option which allows the user to only see buy and sell signals in the same direction as the colour of the trend.
Our trend direction Indicator:
Use: Helps you trade with the trend, understand when the market is changing trend & allows you to stay out of trade that could be going in the wrong direction
Our trend direction indicator is derived from multiple factors, mainly using price action and a bunch of our own formally created volatility, volume and momentum tools. We also allow the user to show the trend on the candle colors to give a more visually pleasing experience. The settings for the trend direction tool are not customizable as we have created a strong blend using volatility, volume and momentum along with price action which we believe is the best possible for our indicator.
The trend direction can also be displayed on multiple time frames on the top right with our custom made dashboard. The user has the choice to input the time frames they wish to view. This allows the user to see the trend direction on multiple time frames without having to open multiple charts or switch the current time frame on screen.
Key Levels Feature:
Use: This is used to see areas of importance in which price could react from.
This is a unique feature based on price action along with a combination of market structure using a method that builds synthetic support and resistance areas & trend direction to show us market sentiment. We have created a unique system which incorporates price action and the sensitivity can be adjusted by the user to determine how strong the price action needs to be in order to show the key levels.
Reversal Areas Feature:
Use: The user can see areas where the market is likely to reverse.
This is a blend of past price data, support and resistance & trend momentum to determine where the most likely area is to reverse based on calculations to project these areas forward.
Use the link below to get access to this indicator
StdDev ChannelsThis script draws two sets of standard deviation channels on the price chart, providing a nuanced view of price volatility over different lengths.
The script starts by declaring a set of user-defined inputs allowing traders to customize the tool according to their individual requirements. The price input sets the source of the price data, defaulting to the closing price but customizable to use open, high, or low prices. The deviations parameter defines the width of the channels, with larger numbers resulting in wider channels. The length and length2 inputs represent the number of periods (in bars) that the script considers when calculating the regression line and standard deviation. Traders can also personalize the visual aspects of the indicator on the chart using the color, linewidth, and linestyle parameters.
Calculation of Standard Deviation:
The core of this script lies in calculating the regression line and standard deviation. This is where the InertiaAll function comes into play. This function calculates the linear regression line, which serves as the middle line of each channel. The function takes in two parameters: y (price data) and n (length for calculation). It returns an array containing the values for the regression line (InertiaTS), counter variable (x), slope of the line (a), and y-intercept (b). The standard deviation is then calculated using the built-in function ta.stdev, which measures the amount of variation or dispersion from the average.
After the calculation, the script proceeds to draw the channels. It creates two sets of lines (upper, middle, and lower) for each channel. These lines are initialized at the lowest price point on the chart (low). The coordinates for these lines get updated in the last section of the script, which runs only on the last bar on the chart (if barstate.islast). The functions line.set_xy1 and line.set_xy2 are used to adjust the starting and ending points for each line, forming the channels.
If the "full range" toggle is enabled, the script uses the maximum number of bars available on the chart to calculate the regression and standard deviation. This can give a broader perspective of the price's volatility over the entire available data range.
A Basic Strategy
The channels generated by this script may inform your trading decisions. If the price hits the upper line of a channel, it could suggest an 'overbought' condition indicating a potential selling opportunity. Conversely, if the price hits the lower line, it might signal an 'oversold' condition, suggesting a buying opportunity. The second channel, calculated over a different length, may serve to confirm these signals or identify longer-term trends.
StDev RSI +Alright, let's dive into this script, which I like to call 'StDev RSI+'. It's a unique take on the classic Relative Strength Index (RSI), a popular tool among traders that helps identify potential overbought or oversold conditions in a stock. But what makes our StDev RSI+ special is how it normalizes price changes against the standard deviation, taking into account the volatility of the stock prices.
The main difference between the original script and this new 'StDev RSI+' script lies in the method of normalization used to calculate price changes. In the original script, the normalization was done using the average of current and previous closing prices. This approach is quite simple and direct, essentially comparing the day-to-day change relative to the average price.
However, the StDev RSI+ script takes a more sophisticated approach. It normalizes the price changes against the standard deviation of the closing prices over a defined period. This method takes into account the volatility of the stock price, providing a measure of how much the prices have been fluctuating during that period.
This means the StDev RSI+ script doesn't just look at the raw change in price, but rather it considers how significant that change is compared to the usual volatility of the stock. So, a big price change may not be considered as significant if the stock is typically very volatile. Conversely, a smaller price change could be seen as more meaningful if the stock is usually quite stable.
Another notable difference is the length of the period used for calculations. While the original script used a period of 14 units (days, weeks, etc.), the StDev RSI+ script uses a period of 153 units. This longer timeframe will smooth out the RSI line and make it less sensitive to individual price changes, but more reflective of longer-term trends.
In essence, while both scripts aim to provide useful trading signals through the RSI, they offer different perspectives. The original script provides a more straightforward, immediate view of price changes, while the StDev RSI+ script offers a volatility-adjusted, longer-term perspective.
Time Profile [QuantVue]The Time Profile indicator provides traders with a comprehensive view of volume and time-based price activity. The indicator combines two essential components into one indicator: the volume profile and the time profile.
The volume profile represents the distribution of trading volume at different price levels over a specified period and is displayed as a circle on the chart.
It provides a visual representation of where the majority of trading volume occurred and often highlights significant support and resistance levels. The volume profile is calculated as the closing price of the highest volume intraday bar, based on the user selected lower time frame.
On the other hand, the time profile focuses on analyzing the time spent at certain price levels. The indicator divides the current bars range into 10 blocks and counts the number of user selected lower time frame closes within each time block.
The block with the most lower time frame closes in it is deemed the time point of control. Traders can use this information to identify time blocks where price movement was most significant.
The time profile is drawn on the Y axis of the current bar to allow for an easy visualization of where price spent most of its time. Historical time profiles are also noted on previous bars with a dash marking the level.
The Time Profile indicator offers several customization options. Traders can adjust the timeframe for the lower time frame data, decide whether to display the time profile, and customize colors for visual clarity.
Additionally, traders can choose to highlight instances where the Volume POC and Time POC align, indicating a strong concentration of volume and price activity.
Don't hesitate to reach out with any questions or concerns.
We hope you enjoy!
Cheers.
Scalping level 1.3.0The indicator shows the horizontal levels behind which the liquidity accumulates. The indicator is based on the price extremums according to the specified settings. Each extremum is marked with a faint blue line and the price. If two or more extrema are located at the same price or close enough to each other, they are highlighted in bright blue, and it indicates a strong resistance or support level. When prices approach strong resistance levels, we can consider the situation on a long breakout or a bounce from the level in the short. As price approaches strong support levels, we could consider a breakout in the short or a bounce from the level in the long. Each level has a time (indicated at each price extremum), when it was formed in hours, the more hours ago the level was formed, the stronger it is and the more likely is the price reaction at this level.
The marks next to the price show the distance in percent to the nearest strong levels, it gives a reference point for how soon the price will approach these levels.
Additional indicators, located at the top right of the chart help to make decisions in trading.
Daily dollar volume - shows how interesting the instrument to the market participants, if the traded volume for 24 hours is low, then it is not worth to pay attention to this tool.
Bitcoin correlation - (used for the cryptocurrency market), if the coin price follows the bitcoin (the indicator value is close to 1), then you should exclude this coin, because the price is controlled by robot correlators, not market participants.
Natr - the average volatility of a 5-minute candle in %. The low value of volatility can indicate that the instrument is not active at the moment. Also it is possible to use this value as a stoploss in scalper deals.
Price change - price change for the current session in %, if the value is more than 10% (for cryptocurrencies), then the breakdown of resistance levels have a higher probability than a bounce, if the value is less than -10%, then the probability of breaking support levels have a higher than a bounce.
Percentage of average daily ATR - shows how much the price passed in % for the current session from the average daily ATR. If price passed about 100%, it is possible to consider the price reversal from resistance or support levels.
Important! When trading on levels it is necessary to consider the situation in the Depth of Market. Pay attention to large densities located near support and resistance levels.
=== Basic settings: ===
LOCAL LEVEL, MIDDLE LEVEL, GLOBAL LEVEL . Three ranges of levels (local, middle, global). For each range, you can configure the period and lifetime of the level. For example, global levels are the strongest, they have the longest period and the longest time of existence (note: 0 for Lifetime means infinite time of existence), while local levels have the shortest period and the shortest time of existence. Period - the period in which the level is built. Lifetime - time after which the level is removed from the chart. Color and width - color and width of the line.
BREAK LEVELS . Levels broken by the price. These levels are displayed for convenient tracking of previous breakouts. Parameters are set similarly to other levels.
IMPORTANT LEVELS . Important levels show behind which price range the greatest accumulation of liquidity. Important levels can be adjusted by setting the minimum number of adjacent levels, for example 2 or more, as well as the maximum distance between adjacent levels. Thus, important levels show the accumulation of price extremums, behind which there are Stop Losses of the participants.
Near level coefficient - the distance coefficient between adjacent levels, the higher the coefficient is, the greater is the acceptable price range between the levels. The coefficient is multiplied by the average ATR, as a result we get the price range. For example, if we specify 0, then strong levels will be detected only if 2 or more extrema have the same price.
Minimum near levels - the minimum number of adjacent (close to each other) levels. For example, if 2 is specified, then if 2 or more levels are situated near each other at a distance not exceeding the distance, specified in the Near level coefficient, then those levels will be displayed in bright blue color.
Week level transparent - transparency of "weak" levels located at the price extremums.
COMMON.
Max distance to level - the maximum distance of levels is set by a coefficient, it is necessary to display only the closest levels to hide the levels that are formed very far from the current price. It is calculated on the basis of ATR.
Show level time - shows level existence time.
PRICE. Visual settings of price levels on the chart
Size - print size of price on the chart
Color - color of price on the chart
Round price color - color of the round price number. The round number is the price with the last two digits 0. Example 28124.00 or 0.2500
INDICATORS. Auxiliary numeric indicators (located in the upper right corner of the chart):
Daily dollar volume , the traded volume for the last 24 hours in dollars. You can specify a volume threshold in millions of dollars, above which the value will be highlighted in green. The default value is 100 million dollars. A high value of traded volume indicates a large number of participants and increases the probability of volatility of the instrument.
Bitcoin correlation , an indicator of price correlation with bitcoin, the lower the indicator, the instrument is more independent, the closer to 1, the stronger the instrument repeats bitcoin price movements. It has a threshold value of 0.5 by default. If the indicator reading is below the threshold, it is highlighted in color.
Natr , shows the average range at which the price passes in 5 min. The higher the indicator, the higher the volatility of the instrument.
Price change , price change in % for the current session.
Percentage of average daily ATR , shows how much the price passed in % for the current session from the average daily ATR.
RSI +This enhanced RSI script, titled "RSI +", is designed to provide traders with more detailed and nuanced information about market conditions.
// INPUTS
The length input allows you to specify the number of periods used in the RSI calculation, with a default value of 14.
The Source input designates the price used for the calculations, typically the closing price.
// CALCULATIONS + PLOTTING
The RSI itself is then calculated as 50 plus 50 times the ratio of two RMAs (Running Moving Averages) - one of the gain_loss, and another of the absolute value of gain_loss. Both RMAs use the specified length.
This script also plots several horizontal lines (bands) at fixed levels: 70, 60, 50, 40, and 30. These bands help to visually delineate areas of potential overbought (above 70) and oversold (below 30) conditions, as well as median levels. The color of the plotted RSI line changes depending on its relation to these bands and its own simple moving average (Moving_Average), providing an additional visual cue.
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What sets this script apart from a standard RSI is its unique calculation method. Unlike the traditional RSI, which simply compares the magnitude of recent gains to recent losses, this script incorporates a normalization factor (norm), calculated as the average of the current and previous period's source prices. The gain or loss (gain_loss) is then determined by dividing the change in the source price by this normalization factor. This method can potentially reduce noise and improve accuracy.
Always remember, though, that no indicator should be used in isolation. The best results are often achieved when they're used as part of a comprehensive trading strategy that considers multiple aspects of market analysis. This script, with its unique enhancements, could be used with other technical indicators like Moving Averages to ascertain the direction of the prevailing trend, while volume-based indicators like Volume-Weighted Average Price (VWAP) could provide insights into the strength behind price movements.
MTF Smart Money ConceptsOverview
This indicator displays major elements of Smart Money Concepts and price action trading with multi-timeframes(MTF) and layered market structures with color visualization.
What is Smart Money Concepts?
Smart Money Concepts(SMC) is one of the methodologies to interpret how financial market moves and to analyze it and execute trades, focusing on liquidity and order flow of financial institutions.
Smart money means the funds invested by large financial institutions such as banks, institutional traders/investors, market makers, hedge funds etc. contrary to retail traders/investors' money.
It is important to note that there is no proof or evidence that those institutions move the market as described in Smart Money Concepts.
Personally speaking, it is one of the interpretation of the market and another angle to view the market just like other technical analysis methodologies such as Elliott Wave Principle, Gann Theory, Wyckoff Method and even traditional price action trading.
Importance of MTF Analysis
MTF analysis(a.k.a Topdown analysis) is the foundation to technically analyze charts and the most fundamental skill in trading because lower timeframes are always influenced by upper timeframes where large financial institutions operate.
How to use
This indicator is designed to help traders analyze how the market moves in terms of SMC and price action with multi-timeframes and color visualization of the market structures, which makes this indicator unique and different from other indicators.
There is two key settings that you can use based on your trading style.
1.Upper timeframe selection
You have two options to determine upper timeframe; Auto mode and Manual mode.
When Auto mode selected, upper timeframe will be determined based on chart timeframe as follows.
Chart timeframe => Upper timeframe
1M=>15M
5M/15M=>1H
30M/1H=>4H
4H=>D
D=>W
W=>M
If you select Manual mode, you can fix an upper timeframe.
2.High/low settings
This affects all other settings of the indicator and most importantly designs the market structure.
This is the key setting to determine how you view the market as price action trading is all about highs and lows and story of how highs and lows have been created with the market structure.
You can specify left bars and right bars to identify swing highs/lows and these highs/lows become the basis to design the market structure and determine how SMC elements are displayed.
Example:
Left bar&right bar: 10
You can see bigger wave(magenta line) in the market structure(stepped line).
(Magenta line is a drawn object by manual)
Left bar&right bar: 4
With this setting, you can see smaller wave in the market structure.
Since market moves like wave as there is a lot of wave theories in financial investment/trading industry such as Elliott wave, Wolf wave etc., users can define market structure with this setting depending on what degree of wave they aim to trade.
Functions:
MTF Order Block
Concept
Order block is a block of orders where buying orders and selling orders are accumulated. Order blocks are created when the institutions move the market up and down, temporality placing orders in an opposite direction to the way they want to move, in order to match their own orders with counter-orders.
Visualization by the indicator
The indicator displays both chart timeframe's order blocks and upper timeframe's order blocks(MTF).
You can also select from two options how to display order blocks;
1. Show all order blocks
2. Show strong order blocks only
Note: Strong order blocks mean order blocks created at strong highs/lows. See also strong high/low below.
Alerts can be set when prices reach strong order blocks.
MTF Fair Value Gap(FVG)/Imbalance
Concept
Fair Value Gap(FVG)(Imbalance) is a void generated among three consecutive candlesticks.
FVG(s) is created when the market moves so rapidly generating buy side or sell side order imbalances.
FVG(s) is characterized by price action that prices tend to come back to the area where FVG(s) exists, filling in the space among the candlesticks.
Visualization by the indicator
The indicator displays both chart timeframe's FVG and upper timeframe's FVG.
MTF Liquidity Grab
Concept
Liquidity grab is price action to sweep liquidity for the institutions to move the market.
This price action often happens because the size of their orders is so huge and they need a bunch of counter-orders to match their orders. This is why prices sometimes come to areas where liquidity rest and swipe them before the market goes up/down.
Liquidity visualization
Where does liquidity rest?
The answer is above highs(buy side liquidity) and below lows(sell side liquidity).
Among all highs and lows, swing highs and lows are where liquidity is accumulated the most because swing highs and lows can be created only by the institutions, therefore massive liquidity is indicated.
Visualization by the indicator
The indicator displays liquidity dots so that users can easily identify where liquidity rests and liquidity grab of both a chart timeframe and an upper timeframe.
Alerts can be set when liquidity grab happens.
MTF Strong High/Low
Concept
Strong high/low literally means strong highs and lows among all highs and lows including swing highs and lows.
There is a few different definitions of strong high/low in price action trading and the definition in this indicator is as follows.
Strong high
A high that that breaks higher low or lower low
Strong low
A low that breaks lower high or higher high
Visualization by the indicator
The indicator displays strong highs and lows of both a chart timeframe and an upper timeframe.
MTF Market Structure Visualization
Concept
Market structure is a series of price movement with highs and lows which outlines the way the market directs. It is a basis to see trend occurrence, trend reversal and sideways and analyzing the market structures in multi-timeframes is the most fundamental technical skill in trading/investment.
Visualization by the indicator
The indicator displays market structures of both a chart timeframe and an upper timeframe and provide color visualization depending on bullish and bearish market structures.
The definition of bullish and bearish market structure is as follows.
Bullish market structure
When a price breaks a Lower High or Higher High
Bearish market structure
When a price breaks a Higher Low or Lower Low
Settings
All the functions above, colors and line settings are parameterized and can be turned on/off depending on users’ needs.
———————————————————————————
概要
Smart Money Concepts(SMC)およびプライスアクショントレードにおける重要な要素をマルチタイムフレームで表示することのできるインジケーターです。
相場構造(Market structure)をマルチタイムフレームで表示し、相場構造の強弱を色で可視化することができます。
Smart Money Concepts(スマートマネーコンセプト)とは？
Smart Money Concepts(以下SMC) は金融市場がどのように動くかを解釈し、分析し、取引を執行するための相場理論の一つであり、Liquidity(リクイディティ)および機関投資家のオーダーフロー(注文の流れ)に焦点を置いていることが特徴です。
Smart Money(スマートマネー)とは、銀行や機関投資家、マーケットメーカー、ヘッジファンドといった金融機関が動かす資金を意味し、個人投資家の資金と対をなす概念です。
重要な点は、実際に上記の金融機関がSmart Money Conceptsで語られているような相場の動かし方をしているかどうかを証明する明確なエビデンスはないということです。
個人的には、エリオット波動理論やギャン理論、ワイコフ理論、伝統的なプライスアクショントレーディングの方法論と同様に、マーケットの動きを解釈するための一つの方法論であり、マーケットの動きを別の角度から見る枠組みと捉えています。
マルチタイムフレーム(MTF)分析の重要性
MTF分析はチャートをテクニカルに分析する上での基礎であり、トレードにおいて最も重要なスキルです。なぜなら下位のタイムフレームは上記のような金融機関が資金運用を行う上位のタイムフレームの影響を常に受けるためです。
使い方
このインジケーターは、SMCまたはプライスアクショントレードの観点から、トレーダーがマーケットをマルチタイムフレームで分析することを支援するために開発しています。
相場構造(Market structure/マーケットストラクチャー)を方向性に応じて色で可視化することができるため、視覚的に相場の構造を判断できることがこのインジケータのユニークな点であり、他のインジケーターと異なる点です。
ユーザーのトレードスタイルに応じて、以下の二つの設定を行うことができます。
1.上位足の決定方法
ユーザーは上位足のタイムフレームを決定するにあたり、AutoモードとManualモードを選択することができます。
Autoモードを選択した場合、上位足はチャートのタイムフレームに応じて以下のように決定されます。
チャートタイムフレーム => 上位足タイムフレーム
1M=>15M
5M/15M=>1H
30M/1H=>4H
4H=>D
D=>W
W=>M
Manualモードを選択すると上位足のタイムフレームを固定することができます。
2.High/low(高値/安値) 設定
当設定はインジケーターの他の全ての機能に影響し、また最も重要である相場構造の定義に影響します。
当設定はユーザーがマーケットをどのように見るか(=どの程度の粒度)を決定する重要な設定です。なぜならプライスアクショントレードは、高値、安値とそれらが相場構造をどのように構築してきたかの一連の流れを分析することが全てだからです。
ユーザーは相場構造を決定付けるスイングハイ·スイングローを特定するためのバーの本数を設定することができます。ここで設定した内容が、相場構造を定義し、以下で説明するSMCの要素の表示を決定することになります。
例:
Left bar&right bar(左右のバーの数): 10
この場合、ステップラインで示した相場構造の中に大きな波(マゼンタの波)を見ることができます。
(マゼンタのラインは手動で描いたオブジェクト)
Left bar&right bar: 4
この設定では、上記に比べて小さい波を描いていることが確認できます。
相場理論の中にエリオット波動理論やウォルフ波動といった数多くの波動理論があることからわかるように、相場は波として動きます。どの粒度の波を狙うかというトレーダーのスタイルに応じて、設定を変更することができます。
機能
MTFオーダーブロック
コンセプト
オーダーブロックとは買い注文と売り注文が一連となって蓄積されたオーダー(注文)のブロックのことです。
オーダーブロックは機関投資家が相場を動かす際に、本来意図する方向とは一時的に逆に動かすことで、彼ら自身の注文をマッチングさせるための反対注文を発生させることで形成されます。
インジケーターによる表示
インジケーターはチャートタイムフレームのオーダーブロックと上位足のオーダーブロックの両方を表示することができます。
また、オーダーブロックの表示オプションとして、
1.全てのオーダーブロックを表示
2.Strong(ストロング)オーダーブロックのみを表示
を選択することが可能です。
注: StrongオーダーブロックはStrong High/Lowで形成されるオーダーブロックを指します。(下記参照)
また、オーダーブロック到達でのアラート設定も可能です。
MTFフェアーバリューギャップ(FVG)/インバランス
コンセプト
フェアーバリューギャップ(FVG)/インバランスとは連続する3つのローソク足の間に形成される溝(Gap)のことです。
フェアーバリューギャップはマーケットが非常に早く動いたことにより、買いオーダーと売りオーダーの需給バランスが崩れることによって発生します。
フェアーバリューギャップには、価格がフェアーバリューギャップが発生したエリアまで戻ってくる傾向があるという特徴が存在します。
インジケーターによる表示
インジケーターはチャートタイムフレームのフェアーバリューギャップと上位足のフェアーバリューギャップの両方を表示することができます。
MTF Liquidity Grab(リクイディティ·グラブ)
コンセプト
Liquidity(リクイディティ)とはマネー、つまり注文です。
Liquidity Grab(リクイディティ·グラブ)とは、機関投資家がマーケットを動かす際にLiquidityを取得するプライスアクションのことを指します。
このプライスアクションは、機関投資家が処理する注文サイズが非常に大きいため、自身の注文を出す際に大量の反対注文を必要とすることからしばしば発生します。
これが、価格がLiquidity(注文)の集まっているエリアに接近し、それら注文をスワイプ(狩り取る)した後に上昇·下落する理由です。
Liquidityの可視化
一般的にLiquidityは高値の上(buy side liquidity)、安値の下(sell side liquidity)に存在します。
全ての高値·安値の中で、スイングハイ·ローがliquidityが最も蓄積されているエリアということができます。なぜならスイングハイ·ローは機関投資家の注文によってのみ形成されるからです。
インジケーターによる表示
ユーザーがLiquidityポイントを簡単に識別できるようにLiquidityをドット表示することが可能です。またチャートタイムフレームと上位足の両方のLiquidity Grabを表示することができます。
Liquidity Grab発生時にアラートも設定可能です。
MTF Strong High/Low(ストロングハイ·ロー)
コンセプト
Strong high/lowは文字通り、強い高値·安値のことを指します。
トレーダーの間でいくつかの異なる定義が存在しますが、当インジケーターでの定義は以下の通りです。
Strong high
Higher low(ハイアーロー) または Lower low(ロワーロー)をブレイクした高値
Strong low
Lower higher (ロワーハイ) または Higher High(ハイアーハイ)をブレイクした安値
インジケーターによる表示
チャートタイムフレーム、上位足のStrong High/Lowを表示することが可能です。
相場構造可視化
コンセプト
相場構造(Market structure/マーケットストラクチャー)とは、相場の流れを成り立たせる高値と安値を元にした一連の値動きです。建物における骨組みに該当します。
トレンドの発生、転換、レンジを見極めるための基礎であり、マルチタイムフレームで相場構造を分析することは、投資·トレードにおいて最も重要なテクニカルスキルです。
インジケーターによる表示
チャートタイムフレームと上位足タイムフレーム両方の相場構造を表示することができます。
また、相場構造が強気の状態か弱気の状態かを色で可視化するため、上位足含めた相場の流れを視覚的に判断することが可能です。
相場構造の強弱の定義は以下の通りです。
強気の相場構造(Bullish market structure)
価格がLower HighまたはHigher Highをブレイクしたとき
弱気の相場構造(Bearish market structure)
価格がHigher LowまたはLower Lowをブレイクしたとき
設定
上記の全ての機能は色やライン設定含めパラメーターで設定が可能です。またユーザの必要に応じて表示·非表示を切り替えることができます。
HighLowBox 1+3TF Enclose in a square high and low range in each timeframe.
Shows price range and duration of each box.
In current timeframe, shows Fibonacci Scale inside(23.6%, 38.2%, 50.0%, 61.8%, 76.4%)/outside of each box.
Outside(161.8%,261.8,361.8%) would be shown as next target, if break top/bottom of each box.
1st box for current timeframe.(default: Chart)
2nd-4th box for higher timeframes.(default: higher1,higher2,higher3)
static timeframes can also be used.
HTF FVG D/W/M 25%/50%/75% [MK]Do you use HTF FVG (fair value gaps) in your trading strategy? Do you monitor price on the 25%/50%/75% levels within the FVG on a lower timeframe?
This script will allow the user to display either Daily, Weekly or Monthly FVGs on a lower timeframe chart. The script will then also show the 25%/50%/75% levels within the HTF FVG so traders can see how price reacts in the FVG.
For example, a Weekly FVG may be chosen by the trader as a possible reversal point, or somewhere to add to an existing position. The trader might want to see the FVG almost fully filled, then watch price climb up/down out of the Weekly FVG
before taking the trade.
Previously traders would draw the FVG to the chart, then use maybe the tradingview fib tool to display the 25%/50%/75% levels. The problem with this is that its easy to accidently move the fib while dragging the chart around.
Chart below shows example of price almost filling a D FVG, then using the 25%/50%/75% levels as it climbs out of the FVG and reverses to the upside.
[MAD] CurveBuilderThe CurveBuilder is a versatile indicator that constructs channels using selectable input averages weighted together.
It also incorporates scalable and shiftable offsets on the resulting bands.
This indicator allows users to customize various settings to tailor the channel construction according to their trading strategy.
here a example screenshot of 3 different settings overlayed
Key Features:
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1. Moving Average Timeframe: Select the timeframe for the moving average calculation on the middle line.
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2. Middleline Settings:
Allow you to customize the parameters related to the middle line of the channel.
The middle line is constructed using two moving averages, which can be selected from the various types available.
Here are the details of the Middleline Settings:
1. MA Type: This setting allows you to choose the type of moving average for the first average. You have the following options:
Weighted Moving Average (WMA), Hull Moving Average (HMA), Volume Weighted Moving Average (VWMA), Linear Moving Average (LMA),
Regular Moving Average (RMA), Simple Moving Average (SMA), Exponential Moving Average (EMA), EMA, Ehlers Gaussian,
Ehlers Smoother, Ehlers Supersmoother, Ehlers Butterworth, ChebyshevI, ChebyshevII
Length (1st MA): This parameter allows you to set the length or period of the first moving average. The length determines the number of bars considered in the calculation of the moving average.
2. MA Type: Similar to the first moving average, this setting lets you choose the type of moving average for the second average.
Length (2nd MA): This parameter sets the length or period of the second moving average. The length determines the number of bars considered in the calculation of the moving average.
3. Weighting:
This option allows you to adjust the weighting factor when merging from the first moving average to the second moving average.
By modifying the weighting, you can control the influence of the first average on the second average.
By selecting different moving average types, adjusting their lengths, and modifying the weighting factor, you can fine-tune the behavior of the middle line in the channel.
This flexibility allows you to customize the indicator to align with your preferred trading strategy and market conditions.
Best results are given when there is a maximum hitrate on retraces to the middleline, and many relevant directionchanges are near that line.
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3. Averaging Settings:
Offset of Curve in Bars: Shifts the indicator into the future by specifying the number of bars.
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4. Band Settings:
The Band Settings in the Multitimeframe Channel Builder indicator allow you to configure the parameters related to the construction of the bands around the middle line.
The bands provide an upper and lower boundary that help define the width of the channel. Here are the details of the Band Settings:
Band Mode:
This setting determines the method used to calculate the bands. You have the following options:
Off: Bands are turned off, and no calculations are performed.
True Range: Bands are calculated using the True Range.
Average True Range: Bands are calculated using the Average True Range.
Standard Deviation: Bands are calculated using the Standard Deviation.
Rate of Change: Bands are calculated using the Rate of Change.
Relative Strength Index: Bands are calculated using the Relative Strength Index.
Length (Bands):
This parameter sets the length or period used in the calculation of the bands. The length determines the number of bars considered when calculating the bands.
Band 1-3 Multiplicator:
These parameters allow you to adjust the scaling factor for each band. The multiplicative factor determines the width of the bands relative to the middle line.
Higher values result in wider bands, while lower values result in narrower bands.
Offset in % (Bands):
These parameters enable you to specify the offset percentage for each band. The offset represents the distance between the middle line and the bands.
A positive offset moves the bands further away from the middle line, while a negative offset brings the bands closer to the middle line.
By selecting the desired band mode, adjusting the length parameter, and modifying the multiplicators and offsets,
you can customize the width and positioning of the bands.
This flexibility allows you to adapt the indicator to different market conditions and trading strategies.
Note that if the Band Mode is set to "Off," the bands will not be displayed, regardless of the other band settings.
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5. Band Final Smooth:
The Band Final Smooth settings in the Multitimeframe Channel Builder indicator enable you to apply a smoothing technique to the constructed bands.
By selecting the desired smoothing type and adjusting the length parameter, you can customize the level of smoothing applied to the bands.
This helps to filter out short-term fluctuations and emphasize the underlying trend, providing a clearer visualization of the price channel.
Smooth Bands: This option allows you to enable or disable the smoothing of the bands. When enabled, the indicator applies the selected smoothing technique to the bands.
Smooth Type: You can choose the type of smoothing to apply to the bands. The available options include:
Weighted Moving Average (WMA), Hull Moving Average (HMA), Volume Weighted Moving Average (VWMA), Linear Moving Average (LMA),
Regular Moving Average (RMA), Simple Moving Average (SMA), Exponential Moving Average (EMA), EMA, Ehlers Gaussian,
Ehlers Smoother, Ehlers Supersmoother, Ehlers Butterworth, ChebyshevI, ChebyshevII
Length (Smooth Bands): This parameter sets the length or period of the smoothing technique applied to the bands.
A longer length will result in a smoother representation of the bands, while a shorter length will provide more responsiveness to price changes.
Final Smooth settings are optional, and you can choose to exclude smoothing if it does not align with your trading strategy or preferences.
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6. Alert Settings:
The Alert Settings in the Multitimeframe Channel Builder indicator allow you to configure the parameters related to the generation of alert notifications based on specific conditions.
Alerts can help you stay informed about potential trading opportunities. Here are the details of the Alert Settings:
Alert Mode: This setting determines the type of alert triggered by the indicator. You have the following options:
Band-outside: Generates an alert when the price moves outside the constructed channel bands.
Band-crossin: Generates an alert when the price crosses above or below the channel bands.
Band-crossout: Generates an alert when the price crosses back inside the channel bands.
Trend: Generates an alert when there is a significant trend change (over or under the middleline).
Oscillator: Generates an alert based on the behavior of the oscillator, if in Oscillator mode.
Spikedetection: This option allows you to enable or disable spike detection in the alerts. When enabled, the indicator considers spikes or sudden price movements when generating alerts.
By selecting the appropriate Alert Mode and configuring spike detection, you can receive alert notifications that align with your trading strategy and help you identify potential trading opportunities.
It's important to note that alert settings alone do not place trades automatically.
They serve as notifications for you to review and analyze the situation before making trading decisions.
Make sure to have a proper understanding of the selected alert mode and its implications in your trading strategy.
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7. Operation Mode:
The Multitimeframe Channel Builder indicator offers three operation modes: Channels, Oscillator, and Noplot.
This setting determines how the indicator is displayed on the chart and what type of information it provides.
Channels Mode:
When the indicator is set to channel mode, it will be displayed as an overlay on the chart. It generates channel lines based on the selected moving average types and their lengths.
These channels can help identify support and resistance levels or potential price breakout points. The channel lines are plotted on the chart,
providing a visual representation of the price movements within the channels.
Oscillator Mode: In Oscillator mode, the indicator is presented on a separate plane below or above the main chart, which you need to move manually.
It generates an oscillator based on the configured settings, including the selected moving averages and their lengths.
The oscillator provides insights into the market's momentum and overbought/oversold conditions.
It consists of horizontal lines representing different levels, such as upper and lower boundaries, and a middle line.
Traders can analyze the oscillator's movements and crossovers to identify potential trading signals.
Noplot Mode: Setting the indicator to Noplot mode disables all visual plotting on the chart. However, the indicator still generates alerts based on the configured settings.
This mode is useful if you only want to receive alert notifications for trading opportunities without cluttering the chart with additional visual elements.
Channels mode is ideal for analyzing price movements within defined channels,
Oscillator mode provides insights into market momentum, and
Noplot mode allows for focus on alert notifications without visual distractions on the chart.
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8. Oscillator Settings (Only applicable in Oscillator mode):
Hline from highest to lowest: Set the values for the highest to lowest horizontal lines.
POW-Compression: Adjust the compression factor for the oscillator.
Multiplier: Set the multiplier for the oscillator.
Oscillator Normalization Lockback: Specify the minimum time for normalization in the oscillator.
Detection Length and Filter Length: Set the lengths for the oscillator detection and filter.
Show Acceleration: Enable or disable the display of acceleration.
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9. Label Settings:
Decimals for Labels: Choose the number of decimals for label values.
Show Alerts (L1, L2, L3): Toggle the visibility of alerts for each level. Alert 1 is a minor alert, 3 a major
Label Color: Set the color for the labels.
Display Lines: Show or hide the lines on the chart.
Display Prices: Show or hide the price levels on the chart.
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10. Signal Config:
This Indicator offers a signal transmission configuration section specifically for Multibit implementation.
This feature allows you to transmit signals between multiple instances of the indicator, creating a daisychain effect. Here are the details of the Multibit implementation settings:
Signal Type: This setting determines the type of signal transmission used. You have the following options:
MultiBit: Enables the Multibit signal transmission.
MultiBit_pass: Enables the Multibit signal transmission with infusion.
NoInput: Disables the signal transmission.
Select Incoming Indicator: This parameter allows you to select the incoming indicator for signal transmission. You can choose any valid input source, such as the closing price or another indicator.
Channel configuration:
Channel long signal 1: Specify the channel used to transmit long signals for the first instance in the daisychain. Choose a value from -1 to 15 to represent different channels.
Channel short signal 1: Specify the channel used to transmit short signals for the first instance in the daisychain. Choose a value from -1 to 15 to represent different channels.
Channel long signal 2: Specify the channel used to transmit long signals for the second instance in the daisychain.
Channel short signal 2: Specify the channel used to transmit short signals for the second instance in the daisychain.
Channel long signal 3: Specify the channel used to transmit long signals for the third instance in the daisychain.
Channel short signal 3: Specify the channel used to transmit short signals for the third instance in the daisychain.
Channel Sideways only: Specify the channel used to transmit signals related to sideways movements.
Channel Trend: Specify the channel used to transmit signals related to trend movements.
Here's a overview of the current settings.
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Librarys used:
djmad/Signal_transcoder_library
djmad/MAD_MATH
djmad/Mad_Standardparts
[MAD] Support / ResistanceSupport/Resistance - Multi-Timeframe Data Plotter
This Pine Script indicator provides users with the ability to analyze various technical indicators, including Bollinger Bands, Simple Moving Averages (SMA), Exponential Moving Averages (EMA), and Pivot Points, across different timeframes. It visually represents these indicators on the chart, allowing for comprehensive analysis.
Key Features:
Bollinger Bands: The indicator supports 6 different timeframes for Bollinger Bands. Users can customize the length of the Bollinger Bands for each timeframe and choose whether to display levels and plots.
Simple Moving Averages (SMA): The indicator supports 4 different timeframes for SMAs. Users can define custom lengths for the SMAs and choose which ones to display on the chart or in the S/R Screen.
Exponential Moving Averages (EMA): Similar to SMAs, the indicator supports 4 different timeframes for EMAs. Users can define custom lengths for the EMAs and choose which ones to display on the chart or in the S/R Screen.
Pivot Points: The indicator supports 4 different timeframes for Pivot Points. Users can choose between Traditional and Fibonacci calculation methods and customize the appearance of the pivot levels.
Global Switches: Users have the option to enable or disable the display of pivots, Bollinger Bands, SMAs, EMAs, open/close/high/low values, horizon plot, and VPR-style plot (weighted Gaussian addition).
Plot Limitation: Users can limit the plotting of support and resistance lines by specifying a percentage up/down.
This indicator offers extensive customization and flexibility, allowing users to analyze the market using these technical indicators across multiple timeframes.
Please refer to this screenshot for an overview of all available settings:
Additionally, the indicator includes a multiplot-chartselect feature to address the limitation of 32 data streams with colors. This feature enables the selection of 10 SMAs or EMAs from different timeframes, along with 3 timeframes of Bollinger Bands and the daily open/close values, all in a single packed indicator. Here is an example of how the data can be displayed:
Enabling all features simultaneously may result in visual overload. However, for users who wish to view specific indicators, this indicator provides all the necessary options. Please refer to this screenshot for an example of various indicators displayed:
To enhance visibility, all lines are weighted, and line and label positions can be dynamically shifted based on these weights.
Breakout Band v1.0This indicator uses a custom source to define a point of relativity to which regions are based off to aid in technical analysis.
Breakout Band's use is:
- Monitoring trends
- Defining trends
- Defining areas of consolidation
- Trend support / resistance levels
- Aid in technical analysis
However, the band provides information different to that of an EMA, as they are not created from the same source, ref Fig 1.
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Fig 1
Breakout Band compared to an EMA, both with a length setting of 20.
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The primary band uses your charts timeframe to plot the band. This can be useful for more immediate information, ref Fig 2.
Fig 2
BTC on a 15m chart with Breakout Band's Chart Timeframe option.
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There is also a functionality for a higher timeframe band to be plotted ( currently limited to 4 higher timeframes ) which can help to view higher timeframe moves with lower timeframe information, ref Fig 3. The higher timeframe band has an added smoothing effect.
Fig 3.
The same chart as referenced in Fig 2., while using Breakout Bands HTF option ( 60m band ).
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USING BREAKOUT BAND
The band provides potential areas of consolidation, as seen in Fig 4., and when price action falls outside of the band, it can be considered trending.
Fig 4.
Defining areas of consolidation, trends, and monitor trends with Breakout Band.
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Different zones are given different colors. The closer to the middle of the band, the higher chance of reactivity. Meaning, there is a greater chance that price will have a reaction within this zone. Whether that be trend continuation or a break of structure, showing signs of weakness of a trend, ref Fig 5.
Fig 5.
Breakout Bands reactivity region showing an area of potential resistance, which price action enters, then the trend continues.
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NOTE : The same principles apply if you're using the HTF band for monitoring HTF trends.
I hope you enjoy the Breakout Band. Should you encounter any issues or have any suggestions for improving this indicator, let me know.
Any and all feedback is appreciated.
High/Low of Day/WeekDisplays stats collected from the configured start date and shows them in a table. In the first version, this shows the following distributions:
High/Low of the week formed during days (top right table)
High/Low of the day formed during configured sessions (middle right table)
High/Low of the week formed during configured sessions (bottom right table)
For the default settings (which contains the ICT Asian range and Kill zones), it's best used in 1-hour chart. If you're modifying the sessions, then make sure you use it on a timeframe which can fit all the enabled sessions. For example, if one of your sessions is 2-hour, but you're switching to a 4-hour chart, then the stats will contain errors and isn't reliable.
Liquidity Sweeps and RaidsThis basic script calculates and plots runs on liquidity levels through Raids and Sweeps. When the price violates the 3 fractal level, a raid or sweep occurs. You can use it to automate markup, understand liquidity levels, and reduce human error in your analysis. Additionally, you can set up an alarm to notify you when new sweeps or raids occur. Combine it with your current strategy or try any price action theory you prefer. Essentially, the price always seeks liquidity, so when some of it is taken, it makes sense to look for a reaction and potential reversal. Stay ahead by capitalizing on liquidity insights for potential reversals. Cheers, Cancamurria.
