Stock Strength IndexScript Title: Stock Strength Index made by Vishal R Janjire
Description:
The Stock Strength Index combines several advanced technical analysis tools into one comprehensive Pine Script indicator designed to provide a nuanced view of market strength and trends. This script integrates Relative Strength (RS), Commodity Channel Index (CCI), and additional trend confirmation mechanisms to deliver actionable insights for traders.
( Must Read )
Important parameter read before use this indicator
0. Zero line green means stock is in up trend and if it is red means down trending.
1. Zero line is green it means stocks is outperforming its index that is Nifty 50 ( but dont consider its results on nifty itself that is it will not work only on nifty 50)
2. Zero line is red it means stocks is underperforming its index that is Nifty 50
3. bubble is confirmation tool when it show green bubble on zero line it means on short time frame it want go up trending and vise versa
4. Always remember higher time frame is greater than chart time frame like day vs hour
Key Features:
5. Best suitable time when higher time frame is 15 minutes and chart time is 5 minute for intraday trading. for short swing use HTF 1 Day and chart time is 1 hour or 2 hour.
1. Relative Strength (RS) Analysis:
- Calculation: Measures the performance of the base symbol relative to a comparative symbol over a specified period.
- Visualization: Plots the RS value with color-coded lines to indicate bullish (green) or bearish (red) conditions based on crossovers. Users can toggle the RS color based on its value or trend direction.
- Trend Analysis: Displays a simple moving average (SMA) of RS to visualize trend strength and direction. The SMA’s color changes to indicate rising or falling trends.
2. Commodity Channel Index (CCI):
- Current Timeframe CCI: Calculates the CCI for the current timeframe to assess price momentum.
- Higher Timeframe CCI: Computes the CCI for a higher timeframe to provide a broader market perspective.
- Background Color: Highlights the chart background in green or red based on whether both current and higher timeframe CCIs are above or below zero, respectively.
3. Alerts:
- CCI Alerts: Set up alerts for key CCI crossovers, including when both CCIs are above or below zero, or when CCI crosses key levels (100 and -100) on either timeframe.
4. Trend Confirmation:
- Price Confirmation: Uses price and its moving average to identify bullish or bearish divergence, with visual bubbles plotted on the chart to confirm potential trade signals.
5. Customization Options:
- RS Parameters: Adjust settings for RS period, comparative symbol, and whether to display reference labels or the zero line.
- CCI Parameters: Configure CCI lengths for both current and higher timeframes and select the source of the CCI calculation.
Concepts Underlying Calculations:
- Relative Strength (RS): Measures the relative performance of the base symbol compared to another symbol, adjusted over a specified period to capture momentum and trend strength.
- Commodity Channel Index (CCI): Calculates the deviation of the price from its average to identify overbought or oversold conditions and potential reversal points.
- Simple Moving Average (SMA): Smooths the RS values to highlight trends and potential trend reversals.
This indicator is designed for traders seeking a comprehensive tool that combines multiple analytical methods into one cohesive system. It aims to offer a clearer view of market trends, strengths, and potential trade opportunities based on a blend of relative strength and momentum indicators.
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This description provides a detailed overview of the script's functionality and customization options while ensuring clarity and compliance with the publishing rules.
Multitimeframe
VWAP PressureKey Features and Utility:
Intrabar Focus: Unlike standard VWAP, which provides a cumulative average throughout the day, the Intrabar VWAP focuses on volume-weighted price calculations within shorter time frames. This allows traders to see how price and volume interact moment-to-moment, offering a granular view of market sentiment.
Market Pressure Analysis: The indicator examines the difference between a smoothed weighted average price of the close and intrabar price movements. This analysis helps in identifying the market pressure at high volume areas. When the market exhibits high volume at low prices within a bar, it suggests accumulation, whereas high volume at high prices indicates distribution.
Momentum and Pressure Shift Signals: By applying a modified MACD calculation to the smoothed difference, the indicator provides signals on shifts in market pressure. Positive values indicate upward price momentum (buying pressure), while negative values suggest downward momentum (selling pressure).
ORB - Alerts, VWAP and MACD Checks, Extended Fib Levels
ORB Range Alerter with Shading, VWAP Check, MACD Check, and Extended Fibonacci Levels for TP – Fully Customizable
This indicator is designed to give you a comprehensive analysis of the Opening Range Breakout (ORB) combined with advanced conditions based on VWAP and MACD indicators, along with Extended Fibonacci Levels for both long and short TP positions.
Key Features:
Opening Range Breakout (ORB):
Defines the opening range at the market open (9:30 AM by default) based on your chart timeframe and shades it for visibility.
The high and low of the first candle after the open are plotted on the chart, creating a breakout range that traders can use to identify potential long or short positions.
VWAP Condition (Optional):
This indicator includes the option to enforce the VWAP (Volume-Weighted Average Price) as a condition for entering trades.
- Longs will only trigger if the price is above VWAP (when enabled).
- Shorts will only trigger if the price is below VWAP (when enabled).
Customizable : You can enable or disable the VWAP condition through a simple checkbox in the indicator’s settings.
MACD Condition (Optional):
Includes an optional MACD (Moving Average Convergence Divergence) condition.
- Longs will only trigger if the MACD line is above 0 and the signal line, providing confirmation of bullish momentum.
- Shorts will only trigger if the MACD line is below 0 and the signal line, indicating bearish momentum.
Customizable : You can enable or disable the MACD condition through a checkbox in the indicator’s settings, allowing you to trade with or without the MACD confirmation.
Fibonacci Extensions for Profit Targets:
Automatically calculates Fibonacci extension levels based on the ORB range for TP levels.
These levels provide key areas for potential profit-taking or reversal points.
Fibonacci extensions are plotted only after a confirmed breakout, either long or short.
The extensions include 127.2%, 161.8%, 200%, 261.8%, 423.6%, and 685.4%, offering a comprehensive set of targets for different trading strategies.
Shading of ORB Range:
The ORB high and low are visually emphasized on the chart with a shaded area for easy identification.
The shading is semi-transparent to help keep your chart clean and easy to read.
Customizable Timeframe:
The ORB range is defined based on the time of day (default is 9:30 AM to 4:00 PM), but you can adjust the timeframe to suit different trading sessions or markets.
Alerts for Breakouts:
Built-in alerts notify you when price crosses above or below the ORB high or low, along with the optional VWAP and MACD conditions.
Alerts can be used to create automated notifications or even execute automated trades based on your chosen settings.
How to Use:
Long Trade Example: When the price crosses above the ORB high, VWAP is above the price, and MACD shows bullish momentum (if these conditions are enabled), a potential long entry is triggered. You can use the Fibonacci extensions for profit targets.
Short Trade Example: When the price crosses below the ORB low, VWAP is below the price, and MACD confirms bearish momentum (if these conditions are enabled), a short entry is triggered. Fibonacci levels for the short position can guide your exit strategy.
Flexibility: You can enable or disable both VWAP and MACD conditions based on your trading style. This flexibility allows the indicator to adapt to different market conditions and strategies.
Customization Options:
Enable/Disable VWAP Condition: Decide if you want to include VWAP as a trade filter.
Enable/Disable MACD Condition: Choose whether to require MACD as confirmation for trade entries.
Adjust ORB Timeframe: Customize the time range for defining the ORB based on the market you're trading.
Fibonacci Extensions: Visualize key profit targets using Fibonacci extensions, which are automatically calculated and displayed after a breakout.
Supertrend 3 + DashboardSupertrend 3 + Dashboard (English and Japanese Explanation Below)
日本語解説は下記
Supertrend 3 + Dashboard is an advanced indicator for traders who wish to monitor multiple time frames simultaneously, combining three Supertrend indicators to provide a customizable dashboard that displays trend direction across multiple time frames. This allows traders to easily identify trends and potential reversals across different time frames, making it a powerful tool in trend-following strategies.
Explanation:
・Supertrend Calculation: The Supertrend indicator is calculated using the Average True Range (ATR) to determine the trend direction. In this indicator, three Supertrend calculations are used, each with customizable ATR lengths and multipliers, allowing traders to adjust the settings to fit their trading strategy.
・Multiple Timeframes: You can set different timeframes for each Supertrend, with default values of the current chart's timeframe for the first Supertrend, 5 minutes for the second, and 15 minutes for the third. These timeframes can be adjusted to fit the trader's preferences, enabling multi-timeframe trend analysis.
・Color Logic: Each Supertrend changes color based on the trend direction. Green indicates an uptrend, while red indicates a downtrend. The lines and filled areas are color-coded to visually differentiate between bullish and bearish trends across different timeframes.
・Dashboard Feature: The customizable dashboard displays trend signals for multiple timeframes (e.g., 1 minute, 5 minutes, 15 minutes, 1 hour, daily, weekly) in a tabular format. Each cell shows the trend direction with an arrow (▲ for uptrend, ▼ for downtrend), and the background color is adjusted accordingly. The dashboard can be positioned at different corners of the chart (top-left, top-right, bottom-left, bottom-right) based on user preference.
Notes:
Please note that this indicator may be subject to changes or removal without notice. The developer cannot be held responsible for any losses incurred from trading with this indicator, so please operate at your own risk.
Supertrend 3 + Dashboardは、複数の時間軸を同時に監視したいトレーダー向けの高度なインジケーターです。3つのSupertrendインジケーターを組み合わせ、複数の時間軸にわたるトレンド方向を表示するカスタマイズ可能なダッシュボードを提供します。これにより、トレーダーは異なる時間軸でのトレンドや反転の可能性を簡単に把握でき、トレンドフォロー戦略において強力なツールとなります。
・Supertrend計算方法: Supertrendインジケーターは、平均真の範囲（ATR）を使用してトレンド方向を決定します。このインジケーターでは、3つのSupertrend計算が使用され、それぞれにカスタマイズ可能なATRの期間と倍率が設定されており、トレーダーは戦略に合わせて設定を調整できます。
・複数時間軸: 各Supertrendに対して異なる時間軸を設定できます。デフォルトでは、第一のSupertrendは現在のチャートの時間軸、第二は5分、第三は15分に設定されています。これらの時間軸はトレーダーの好みに応じて調整可能で、複数時間軸でのトレンド分析が可能です。
・色のロジック: 各Supertrendは、トレンドの方向に応じて色が変わります。緑は上昇トレンド、赤は下降トレンドを示します。異なる時間軸での強気と弱気のトレンドを視覚的に区別するために、線や塗りつぶしの色が適用されています。
・ダッシュボード機能: カスタマイズ可能なダッシュボードは、1分、5分、15分、1時間、日足、週足など、複数の時間軸にわたるトレンド信号を表形式で表示します。各セルにはトレンド方向が矢印（▲は上昇、▼は下降）で表示され、背景色もそれに応じて調整されます。ダッシュボードの位置は、ユーザーの好みに応じて、チャートの四隅（左上、右上、左下、右下）に配置できます。
注意事項: このインジケーターは予告なく変更または削除される場合があります。このインジケーターを使用しての取引による損失について、開発者は責任を負いかねますので、自己責任でご利用ください。
Cumulative Volume Delta DivergenceThe Cumulative Volume Delta Divergence is an indicator that helps traders visually assess the buying and selling pressures in the market by analyzing volume divergences over time. This indicator overlays directly on the price chart, offering insights into how volume shifts correlate with price movements.
Utility and Trading Benefit
Divergence Detection
The primary utility of this indicator lies in its ability to detect divergences between volume trends and price movements. Such divergences can signal potential price reversals, providing traders with early warnings about shifts in market sentiment.
Enhanced Decision Making
By integrating volume analysis directly with price action on the chart, the indicator aids traders in making more informed decisions regarding entry and exit points. This can be crucial for capitalizing on trends or avoiding potential losses.
First Candle High Low LevelsDescription
The "First Candle High Low Levels" Pine Script indicator is designed to highlight the high and low levels of the first candle of the day on your TradingView chart. It works across different timeframes and specifically handles the Indian stock market trading hours (9:15 AM to 3:30 PM IST). The script draws a box from the start to the end of the trading session, visually marking the price range defined by the first candle of the day. Traders can customize the box's border color, fill color, and line width.
Features
Customizable Timeframe: Users can select the desired timeframe for the first candle (e.g., 5-minute, 15-minute, etc.).
Custom Box Appearance: Options to adjust the border color, fill color, and line width of the drawn box.
Auto Reset for Each New Day: The high and low of the first candle are reset daily to mark the start of the next trading day.
Accurate Market Session Handling: The box is drawn from the start of the first candle to the end of the trading session (3:30 PM IST).
Usage
Adding to Chart: Apply the script by copying it into the Pine Script editor in TradingView. Once added, the script will automatically draw a box representing the high and low of the first candle of the day.
Select Timeframe: You can adjust the First Candle Timeframe input to define which timeframe candle will be used for marking the high and low. For example, if you choose a 5-minute timeframe, the high and low of the first 5-minute candle will be used.
Customization:
Adjust the Border Color and Box Fill Color through the input settings to match your chart's style.
Modify the Box Line Width to make the box lines more or less prominent.
AnyTimeAndPrice
This indicator allows users to input a specific start time and display the price of a lower timeframe on a higher timeframe chart. It offers customization options for:
- Display name
- Label color
- Line extension
By adding multiple instances of the AnyTimeframeTimeAndPrice indicator, each customized for different times and prices, you can create a powerful and flexible tool for analyzing market data. Here's a potential setup:
1. Instance 1:
- Time: 08:23
- Price: Open
- Display Name: "8:23 Open"
- Label Color: Green
2. Instance 2:
- Time: 12:47
- Price: High
- Display Name: "12:47 High"
- Label Color: Red
3. Instance 3:
- Time: 15:19
- Price: Low
- Display Name: "3:19 Low"
- Label Color: Blue
4. Instance 4:
- Time: 16:53
- Price: Close
- Display Name: "4:53 Close"
- Label Color: Yellow
By having multiple instances, you can:
- Track different times and prices on the same chart
- Customize the display names, label colors, and line extensions for each instance
- Easily compare and analyze the relationships between different times and prices
This setup can be particularly useful for:
- Identifying key levels and support/resistance areas
- Analyzing market trends and patterns
- Making more informed trading decisions
Inputs:
1. AnyStartHour: Integer input for the start hour (default: 09, range: 0-23)
2. AnyStartMinute: Integer input for the start minute (default: 30, range: 0-59)
3. Sourcename: String input for the display name (default: "Open", options: "Open", "Close", "High", "Low")
4. Src_col: Color input for the label color (default: aqua)
5. linetimeExtMulti: Integer input for the line time extension (default: 1, range: 1-5)
Calculations:
1. AnyinputStartTime: Timestamp for the input start time
2. inputhour and inputminute: Hour and minute components of the input start time
3. formattedAnyTime: Formatted string for the input start time (HH:mm)
4. currenttime: Current timestamp
5. currenthour and currentminute: Hour and minute components of the current time
6. formattedTime: Formatted string for the current time (HH:mm)
7. onTime and okTime: Boolean flags for checking if the current time matches the input start time or is within the session
8. firstbartime: Timestamp for the first bar of the session
9. dailyminutesfromSource: Calculation for the daily minutes from the source
10. anyminSrcArray: Request security lower timeframe array for the source
11. ltf (lower timeframe): Integer variable for tracking the lower timeframe
12. Sourcevalue: Float variable for storing the source value
13. linetimeExt: Integer variable for line extension (calculated from linetimeExtMulti)
Logic:
1. Check if the current time matches the input start time or is within the session
2. If true, plot a line and label with the source value and formatted time
3. If not, check if the current time is within the daily session and plot a line and label accordingly
Notes:
- The script uses request.security_lower_tf to request data from a lower timeframe
- The script uses line.new and label.new to plot lines and labels on the chart
- The script uses str.format_time to format timestamps as strings (HH:mm)
- The script uses xloc.bar_time to position lines and labels at the bar time
This script allows users to input a specific start time and display the price of a lower timeframe on a higher timeframe chart, with options for customizing the display name, label color, and line extension.
MTF Breaker Blocks [SMRT Algo]The SMRT Algo Breaker Blocks (BBs) indicator offers an advanced methodology for traders by highlighting breaker blocks, a critical concept in technical analysis that indicates potential areas of support and resistance. This indicator not only identifies these key zones but also integrates breakout signals and premium/discount swing levels to guide traders in setting take profit and stop loss targets. The system includes customizable alerts for each signal, ensuring that traders are promptly notified of important market events.
Breaker blocks are identified after a mitigated order block, which signifies a change in polarity—where a previous resistance turns into support or vice versa (or previous demand turned supply).
The indicator uses price action analysis to determine these zones, which are crucial for identifying potential reversal points or continuation patterns. By focusing on these areas, traders can anticipate where significant price reactions are likely to occur.
Features:
Bullish Breaker Blocks: A bullish BB is generated when a previous supply zone is broken. This setup indicates that the market may be transitioning from a downtrend to an uptrend.
Bearish Breaker Blocks: A bearish BB is created when a previous demand zone is broken, thus creating a new bearish BB. This scenario suggests a potential shift from an uptrend to a downtrend.
Sensitivity: Traders can adjust the indicator’s sensitivity, influencing how it detects swings and constructs breaker blocks. Higher sensitivity results in shorter-term breaker blocks, while lower sensitivity focuses on longer-term BBs.
Alerts: Alerts can be configured for each signal type, ensuring that traders are notified of potential opportunities in real time.
Traders can utilize Breaker Block (BB) zones in multiple strategic ways to enhance their trading decisions:
Profit Targets: BB zones can serve as predefined areas where traders look to take profits. Since these zones represent significant levels of potential support or resistance, they are logical points where the price might reverse or consolidate. By targeting these zones, traders can set realistic and strategic exit points that align with the market's natural behavior, thereby optimizing their profit-taking strategy.
Risk Management: Using BB zones for profit targets also assists in managing risk, as it allows traders to plan their trades with a clear understanding of where they expect the market to move. This foresight helps in setting stop-loss levels relative to the BB zones, creating a balanced risk-reward profile for each trade.
Entry Points & Anticipating Reversals: BB zones are ideal entry points for trades because they highlight areas where a change in price direction is likely. Traders can enter long positions near a BB zone acting as support or short positions near a BB zone acting as resistance. This approach leverages the natural tendency of prices to respect these significant levels, increasing the probability of entering a trade just as the market begins to move in the desired direction.
Confirmation with Additional Indicators: While BB zones can be strong standalone signals, their effectiveness can be further enhanced when used in conjunction with other technical indicators, such as moving averages, RSI, or MACD. This combined approach can provide additional confirmation and improve the reliability of the entry signals, making it a versatile tool in a trader's arsenal.
Inputs:
Timeframe: Changes the Breaker Block timeframe
Sensitivity: Adjust the sensitivity of the BB zones. A smaller value will lead to fewer zones generated on the chart, and a higher value will lead to more zones shown.
Width: Adjust the width (size) of the zones. A smaller value will result in smaller zones, while a larger value will result in larger zones.
Color: Freely adjust the color of bullish and bearish breaker blocks.
Breaker Block Length: Adjust the offset (to the right) of the breaker block zones.
Timeframe Label: The timeframe label is displayed on the top right corner, and can be turned on/off. It shows the timeframe of the MTF Breaker Block. The position and size of the label can also be adjusted.
By incorporating BB zones into their trading strategy, traders can develop a more structured and disciplined approach to both entering and exiting trades, leveraging the unique characteristics of these zones to optimize their trading outcomes.
These components collectively create a system for identifying and trading market reversals and continuations. The breaker blocks provide a structural basis, highlighting areas of potential price reaction.
SMRT Algo’s proprietary approach to identifying and confirming breaker blocks, coupled with our comprehensive alert system, offers a significant edge over standard indicators. This indicator not only provides signals but also embeds a complete trading framework, guiding users through both entry and exit processes with built-in risk management.
Multi-Timeframe Breaker Blocks by SMRT delivers precise and actionable insights making it a valuable asset for serious traders. Traders receive a tool that is both powerful and user-friendly, capable of enhancing their trading performance and decision-making process.
The SMRT Algo Suite offers a comprehensive set of tools and features that extend beyond the capabilities of standard or open-source indicators, providing significant additional value to users.
SMRT Algo Suite includes:
Advanced Customization: Users can customize various aspects of the indicator, such as toggling the confirmation signals on or off and adjusting the parameters of the MA Filter. This customization enhances the adaptability of the tool to different trading styles and market conditions.
Enhanced Market Understanding: The combination of pullback logic, dynamic S/R zones, and MA filtering offers traders a nuanced understanding of market dynamics, helping them make more informed trading decisions.
Unique Features: The specific combination of pullback logic, dynamic S/R, and multi-level TP/SL management is unique to SMRT Algo, offering features that are not readily available in standard or open-source indicators.
Educational and Support Resources: As with other tools in the SMRT Algo suite, this indicator comes with comprehensive educational resources and access to a supportive trading community, as well as 24/7 Discord support.
The educational resources and community support included with SMRT Algo ensure that users can maximize the indicators’ potential, offering guidance on best practices and advanced usage.
SMRT Algo believe that there is no magic indicator that is able to print money. Indicator toolkits provide value via their convinience, adaptibility and uniqueness. Combining these items can help a trader make more educated; less messy, more planned trades and in turn hopefully help them succeed.
RISK DISCLAIMER
Trading involves significant risk, and most day traders lose money. All content, tools, scripts, articles, and educational materials provided by SMRT Algo are intended solely for informational and educational purposes. Past performance is not indicative of future results. Always conduct your own research and consult with a licensed financial advisor before making any trading decisions.
Screener | FractalystWhat’s the purpose of this indicator?
This indicator is part of the Optirange suite , which analyzes all timeframes using a mechanical top-down approach to determine the overall market bias. It helps you identify the specific timeframes and exact levels for positioning in longs, shorts, or guiding you on whether to stay away from trading a particular market condition.
The purpose of the Screener indicator is to track the contextual bias of multiple markets simultaneously on the charts without the need to switch between pairs. This allows traders to monitor various assets in real-time, enhancing decision-making efficiency and identifying potential trading opportunities more effectively.
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How does this indicator identify the overall market bias?
This indicator employs a systematic top-down approach, analyzing market structure, fractal blocks, and their mitigations from the 12M timeframe down to the 1D timeframe to uncover the story behind the market. This method helps identify the overall market bias, whether it’s bullish, bearish, or in consolidating conditions.
Below is a flowchart that illustrates the calculation behind the market context identification, demonstrating the systematic approach:
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According to the above trade plan, why do we only look for mitigations within Fractal Blocks of X1/X2?
In this context, "X" stands for a break in the market's structure, and the numbers (1 and 2) indicate the sequence of these breaks within the same trend direction, either up or down.
We focus on mitigations within Fractal Blocks during the X1/X2 stages because these points mark the early phase (X1) and the continuation (X2) of a trend. By doing so, we align our trades with the market's main direction and avoid getting stopped out in the middle of trends.
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How does this indicator identify ranges in a mechanical way?
Since the indicator is part of the Optirange suite , it follows the exact rules that Optirange utilizes to identify breaks of market structures in a mechanical manner.
Let’s take a closer look at how the ranges are calculated:
1- First, we need to understand the importance of following a set of mechanical rules in identifying market structure:
The image above illustrates the difference between a subjective and a mechanical approach to analyzing market structure. The subjective method often leads to uncertainty, where traders might struggle to pinpoint exact breaks in structure, resulting in inconsistent decision-making. Questions like “Is this a break?” or “Maybe this one...?” reflect the ambiguity of manual interpretation, which can cause confusion and errors in trading.
On the other hand, the mechanical approach depicted on the right side of the image follows a clear, rule-based method to define breaks in market structure. This systematic approach eliminates guesswork by providing precise criteria for identifying structural changes, such as marking structural invalidation levels where market bias shifts from bullish to bearish or vice versa. The mechanical method not only offers consistency but also integrates statistical probabilities , enhancing the trader's ability to make data-driven decisions.
By adhering to these mechanical rules, the Screener indicator ensures that ranges are identified consistently, allowing traders to rely on objective analysis rather than subjective interpretation . This approach is crucial for accurately defining market structures and making informed trading decisions.
2- Now let's take a look at a practical example of how the indicator utilizes Pivot points with a period of 2 to identify ranges:
In this image, we see a Bearish Scenario on the left and a Bullish Scenario on the right. The indicator starts by identifying the first significant swing on the chart. It then validates this swing by checking if there is a preceding swing high (for a bearish scenario) or swing low (for a bullish scenario). Once validated, the indicator confirms a break of structure when price closes below or above these points, respectively.
For instance, in the Bearish Scenario:
The first significant swing is identified.
The script checks for a preceding swing high before confirming any structural break.
A candle closure below the swing low confirms the first bearish break of structure.
This results in a confirmed market bias towards bearishness, with structural liquidity levels indicated for potential price targets.
In the Bullish Scenario:
The process is mirrored, identifying the first swing low and validating it with a preceding swing low.
A closure above this swing confirms the bullish break of structure.
This leads to a market bias towards bullishness, with invalidation levels to watch if the trend shifts.
This practical example demonstrates how the indicator systematically identifies market ranges, ensuring that traders can make informed decisions based on clear, rule-based criteria.
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How does this indicator identify ranges in a mechanical way, What are the underlying calculations?
Fractal blocks refer to the most extreme swing candle within the latest break. They can serve as significant levels for price rejection and may guide movements toward the next break, often in confluence with topdown analysis for added confirmation.
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What are mitigations, What are the underlying calculations?
Mitigations refer to specific price action occurrences identified by the script:
1- When the price reaches the most recent fractal block and confirms a swing candle, the script automatically draws a line from the swing to the fractal block bar and labels it with a checkmark.
2- If the price wicks through the invalidation level and then retraces back to the fractal block while forming a swing candle, the script labels this as a double mitigation on the chart.
This level will serve as the next potential invalidation level if a break occurs in the same direction.
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What does the right table display?
The table located at the right of your chart displays five colored symbols that represent the contextual market bias:
Green: The market is in a bullish condition.
Red: The market is in a bearish condition.
White: The market condition is uncertain, and it is advisable to stay away from trading.
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What does the bottom table display?
The bottom table can be turned on in the Optirange indicator and serves multiple purposes:
Range Counts and Mitigations: It shows the range counts and their mitigations across multiple timeframes, providing a comprehensive view of market dynamics.
Hourly Timeframe Probabilities: The bottom row of the bias table displays the probabilities for various hourly timeframes, helping to identify potential entry levels based on the multi-timeframe bias determined by the Screener.
In a bullish market context, you should look for long positions by focusing on hourly timeframes where buy-side probability exceeds 50%.
In a bearish market context, you should look for short positions by focusing on hourly timeframes where the sell-side probability exceeds 50%.
When the symbol is white within the Screener table, it signals that the market bias is unclear, and it's recommended to stay away from trading in such conditions.
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How the range probabilities are calculated?
Each break of market structure, denoted as X, is assigned a unique ID, starting from X1 for the first break, X2 for the second, and so on.
The probabilities are calculated based on breaks holding, meaning price closing through the liquidity level, rather than invalidation. This probability is then divided by the total count of similar numeric breaks.
For example, if 75 out of 100 bullish X1s become X2, then the probability of X1 becoming X2 on your charts will be displayed as 75% in the following format: ⬆ 75%
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What does the top table display?
The top table on the charts displays the current market context, offering insights into the underlying bias. It highlights the high-timeframe (HTF) bias and guides you on which timeframes you should use to enter long or short positions, based on the probability of success.
Additionally, when the market bias is unclear, the table clearly signals that it's best to avoid trading that specific market until the context or market story becomes clearer. This helps traders make informed decisions and avoid uncertain market conditions.
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How does the Screener indicator identify the market bias/context/story ?
- Market Structure: The Optirange indicator analyzes market structure across multiple timeframes, from a top-down perspective, including 12M, 6M, 3M, 1M, 2W, 1W, 3D, and 1D.
- Fractal Blocks: Once the market structure or current range is identified, the indicator automatically identifies the last push before the break and draws it as a box. These zones acts as a key area where the price often rejects from.
- Mitigations: After identifying the Fractal Block, the indicator checks for price mitigation or rejection within this zone. If mitigation occurs, meaning the price has reacted or rejected from the Fractal Block, the indicator draws a checkmark from the deepest candle within the Fractal Block to the initial candle that has created the zone.
- Bias Table: After identifying the three key elements—market structure, Fractal Blocks, and price mitigations—the indicator compiles this information into a multi-timeframe table. This table provides a comprehensive top-down perspective, showing what is happening from a structural standpoint across all timeframes. The Bias Table presents raw data, including identified Fractal Blocks and mitigations, to help traders understand the overall market trend. This data is crucial for the screener, which uses it to determine the current market bias based on a top-down analysis.
- Screener: Once all higher timeframes (HTF) and lower timeframes (LTF) are calculated using the indicator, it follows the exact rules outlined in the flowchart to determine the market bias. This systematic approach not only helps identify the current market trend but also suggests the exact timeframes to use for finding entry, particularly on hourly timeframes.
Example:
12M Timeframe:
OANDA:EURUSD
6M Timeframe :
OANDA:EURUSD
3M Timeframe :
OANDA:EURUSD
1M Timeframe :
OANDA:EURUSD
2W Timeframe :
OANDA:EURUSD
1W Timeframe :
OANDA:EURUSD
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User-input settings and customizations
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. By utilizing our charting tools, the buyer acknowledges that neither the seller nor the creator assumes responsibility for decisions made using the information provided. The buyer assumes full responsibility and liability for any actions taken and their consequences, including potential financial losses. Therefore, by purchasing these charting tools, the customer acknowledges that neither the seller nor the creator is liable for any unfavorable outcomes resulting from the development, sale, or use of the products.
The buyer is responsible for canceling their subscription if they no longer wish to continue at the full retail price. Our policy does not include reimbursement, refunds, or chargebacks once the Terms and Conditions are accepted before purchase.
By continuing to use our charting tools, the user acknowledges and accepts the Terms and Conditions outlined in this legal disclaimer.
MQLSoftware - Pro Swing Trading SystemThe PRO Swing Trading System for TradingView is an advanced, fully integrated trading solution designed for traders who demand precision, versatility, and convenience in their trading strategies. Part of our Premium Collection, this system combines robust algorithms with hyper-customizable features to help traders effectively capitalize on market swings across various asset classes.
Our system embodies a comprehensive approach to trading, emphasizing risk management and capital preservation while maximizing trading efficiency. By seamlessly integrating risk management tools directly within the trading terminal, the PRO Swing Trading System eliminates the need for external spreadsheets or complex calculations, ensuring that traders can focus solely on executing their strategies. Every aspect of this system is designed to provide a streamlined, user-friendly experience where entry points, stop-loss levels, and take-profit targets are automatically calculated and displayed, allowing for rapid decision-making and execution.
KEY FEATURES
Advanced Trend Channels and Swing Levels
The PRO Swing Trading System features a unique, color-coded trend channel that visually adapts based on market trends. This channel helps traders identify optimal entry points by highlighting key swing levels for potential reversals or trend continuations. The system marks these levels on the chart as potential entry points for long or short positions, providing a clear visual cue for trading opportunities.
Comprehensive Signal and Trade Levels
Clear Stop-Loss and Take-Profit Levels: The system automatically marks stop-loss and take-profit levels on your charts, including absolute values to support informed decision-making. Traders can adjust these levels directly on the chart to match their trading style and risk tolerance, ensuring that risk management is always at the forefront of their trading strategy.
Dynamic Signal Adjustments: Customize your signals based on trend strength and market volatility to ensure you receive alerts that align with your specific trading strategies. This flexibility allows for a tailored trading experience that can adapt to various market conditions.
This image showcases a chart of BTC/USD on a one-hour timeframe. Here, we highlight the system's functionality, illustrating how different colors represent ascending and descending trends. The image includes features such as the Descending Channel, Extending Channel, Main Swing Level, Echo Swing Level, and Potential Entry points.
Additionally, it displays levels for managing profits and losses, such as Take Profit Levels and Stop Loss Level. The system allows setting either one or two take-profit levels for staged exit strategies. Traders can enter positions based on the Main Swing Level (primary entry point) or Echo Swing Level (secondary entry point), depending on their trading style or market conditions. This flexibility is useful for phased entry or if the primary entry opportunity is missed.
Integrated Position Size Calculator
Located in the top-right corner of the chart by default, the Position Size Calculator is a powerful tool that helps traders quickly determine the optimal trade size based on their risk settings. By integrating this calculator directly into the chart, traders can efficiently manage their trades with precision and confidence.
Configurable Risk Management: The calculator allows traders to set risk percentages, stop-loss types, and profit-to-loss ratios. It dynamically adjusts based on user inputs, optimizing trade volume and risk management to support a systematic trading approach.
This image presents a chart of ETH/USD on a 15-minute timeframe, clearly demonstrating the system’s ability to track trend changes accurately. The chart emphasizes the Position Size Calculator, part of the Risk Money Management Block. This panel allows users to set their risk (e.g., 2% of the deposit) and automatically calculates the appropriate position size. Absolute stop-loss and take-profit values are also calculated based on these settings, maintaining a consistent risk-reward ratio and supporting systematic trading.
Trend Strength Monitor
The Trend Strength Monitor is an essential tool for multi-timeframe analysis, helping traders identify the direction and strength of trends across higher timeframes. This feature aids in filtering out lower-probability trades, enhancing decision-making accuracy and ensuring that traders align their trades with the broader market trend.
This image features a chart of XAU/USD on an hourly timeframe, highlighting the Trend Strength Monitor. This tool helps traders understand the trend direction and strength across higher timeframes. The example shows that all higher timeframes indicate a buying zone, suggesting a safer long trade.
FILTERS AND SYSTEM USAGE
The indicator is equipped with a wide range of additional settings and filters that allow traders to adapt it to their specific needs and market conditions. Key features include:
Customizable Channel Width
The channel width is a crucial parameter that determines the indicator's adaptability to different market conditions. Traders can adjust the channel width to ensure the indicator responds quickly to market changes while remaining stable against false fluctuations. This flexibility is vital for trading in varying market conditions, such as ranging or trending markets.
Signal Frequency Control
This setting allows traders to control the frequency of signals generated by the system. By adjusting this parameter, traders can customize their trading approach to match their preferred style, whether it be a conservative, medium, or aggressive approach.
Alert and Notification Settings
The PRO Swing Trading System includes customizable alert settings to ensure traders are notified when key market conditions align with their strategy. Alerts can be set for specific entry points, trend reversals, or other significant market events, helping traders stay on top of their trades.
Trading Time Filters
Traders can set time filters to restrict trading activity to specific times of the day or week, ensuring their trading aligns with their schedule and market preferences. This feature is particularly useful for those who trade part-time or prefer to avoid trading during certain market sessions.
This image depicts a potentially risky LONG trade scenario after a prolonged downward movement on the AMD on an hourly timeframe. The recommendation is to avoid this trade, as the next three higher timeframes (H4, D1, W1) are in the red zone, indicating strong bearish trends.
CONCLUSION & ACCESS
The PRO Swing Trading System for TradingView is a powerful tool for traders who value precision, adaptability, and streamlined trading operations. With its advanced features, such as customizable trend channels, dynamic signal adjustments, and integrated risk management tools, this system supports a disciplined and systematic approach to trading. It's designed to enhance your trading experience by providing all the necessary tools to make informed decisions without the need for external resources.
To gain immediate access and start using the PRO Swing Trading System today, please refer to the Author's instructions below.
Swing Points [Syafiq.Jr]The Swing Points indicator by Syafiq.Jr is designed to identify and visualize pivotal market structures such as Higher Highs (HH), Lower Highs (LH), Lower Lows (LL), and Higher Lows (HL) directly on the chart. This tool is essential for traders who utilize swing trading strategies and rely on understanding market trends through key price levels.
Key Features:
Pivot Strength: Configurable pivot strength to customize the sensitivity of swing points.
Customizable Visuals: Users can adjust the colors and visibility of the zones for each swing point category (HH, LH, LL, HL) based on their preferences.
Multiple Timeframe Support: The indicator offers the flexibility to display swing points from the current timeframe or higher timeframes such as 5-minute, 15-minute, 30-minute, 1-hour, 4-hour, and daily intervals.
Dynamic Extension Lines: Automatically extend key levels across the chart for ongoing reference.
Configurable Font Sizes: Adjust the font size for labels marking the swing points to ensure clear visualization.
This indicator is ideal for traders who need to spot and track critical swing points across different timeframes, enabling better decision-making in trending and ranging markets.
Market Momentum @MaxMaseratiThe Market Momentum Indicator plots two essential lines on your chart: the Momentum Line and the Momentum Signal, enabling you to visualize price direction and detect potential shifts in that direction.
Momentum Line:
The Momentum Line is calculated by finding the highest and lowest prices over the last 14 periods and then determining the midpoint between them. This midpoint is what we call the Momentum Line.
Momentum Signal:
The Momentum Signal is simply the Momentum Line shifted upward by a small fixed amount called the tick_size, which is set to 0.25 in this script.
Why 0.25?: The 0.25 tick size is a standard increment in many markets. It creates a small but noticeable difference between the Momentum Line and the Momentum Signal, making it easier to spot changes in market momentum. It’s small enough to reflect minor shifts without distorting the indicator’s usefulness.
NB: The indicator was originally created to be use without smoothing, but I add it as an option for smoothing and moving average lovers.
Smoothing:
You have the option to smooth these lines using different types of moving averages, like SMA or EMA. Smoothing makes the lines less jagged and more gradual.
If you apply smoothing, the Momentum Line and Momentum Signal might cross each other depending on the market’s movement.
How to use it:
When both lines are below price, it might indicates a Bullish Momentum
When both lines are above the price, it could suggest a Bearish Momentum.
When the lines are within the price range, it indicates the market is in a consolidation phase, signaling the potential for a move in either direction.
snapshot
Users can view Momentum Line and Momentum Signal for two specific time frames of their choice. Additionally, they have the option to smooth the lines separately for each time frame. For example, if "TF1" is set to 15 minutes and the current chart time frame is 5 minutes, the table will display "TF1: 15" alongside "Current TF: 5." Another option, "TF2," could be set to 60 minutes. Both time frames will be plotted on the chart if selected.
This indicator can be use as a supporting tool alongside your chosen strategy. It’s not designed to be used on its own and should be part of a broader confluence approach.
Ultra High/LowThe Ultra High/Low script helps traders track key price levels by automatically marking significant highs and lows on a chart, highlighting potential reversal points for future trading decisions.
Introduction
The Ultra High/Low script identifies and marks significant highs and lows on a trading chart. These are specific points where the price reached a peak or bottomed out before reversing. The script draws lines at these levels, which can be extended, and it also labels the exact price at these points. This makes it easy for traders to see where the price has changed direction previously, helping them make more informed trading decisions.
Detailed Description
In more detail, the Ultra High/Low script is designed using Pine Script™, a programming language used for creating custom indicators and strategies on the TradingView platform. Here's how it works:
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Detection of Pivot Highs and Lows
The script identifies "pivot highs" and "pivot lows." These are points on the chart where the price reached a local maximum or minimum, surrounded by lower highs (for pivot highs) or higher lows (for pivot lows).
The user can customize how many bars to the left and right of the high or low the script should consider to confirm a pivot (Length argument in the settings).
The script uses Pine Script functions for pivot detection. ta.pivothigh() and ta.pivotlow() .
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Drawing Lines and Labels
Once a pivot is identified, the script draws a dashed line from the pivot point to the current price bar. This line helps visualize where significant price reversals have occurred.
The script also adds a label next to these lines showing the exact price of the pivot point. This label also shows "PDH" (Previous Day High) or "PDL" (Previous Day Low) if the pivot is PDH or PDL. Same for "PWH" (Previous Week High) and "PWL" (Previous Week Low).
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Purging and Extending Lines
If the price crosses a pivot line after it has been drawn, the script can either delete the old line (purged line) or keep it and add additional indicators to show that the line has been liquidated.
The script also has options to extend the lines into the right.
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Custom Inputs
The script offers several customizable options, like the color of the lines and labels, whether to show the exact price or not, and whether to extend the lines. This allows traders to tailor the indicator to their specific needs and preferences.
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Overall, the Ultra High/Low script is a powerful visual aid for identifying critical price levels that may influence future price movements, making it easier for traders to make decisions based on historical price behavior.
Points of InterestIndicator for displaying a timed, intraday Range of Price as a Point of Interest (POI) that you may want to track when trading as a potential magnet for price. Quite often you will see Price return to prior days price range before continuing to move. This enables you to track specific portions of a Days Trading session to see what has been revisited and what has not yet been re traded to.
The range is tracked for each trading day between the times that you specify in the Inputs ‘POI Time’ parameter You can also set the Time zone of the Range.
It will mark the Range High and Low for the timed range with lines that can be optionally extended and can be customised in terms of colour, style and width.
It will also Plot a line showing the Equilibrium of the range which is 50% from the High to the Low point of price during the time window that you specified in the ‘POI Time’ Parameter. This can also be customised in terms of visibility, colour, style and width.
You can control an optional Label for the POI Equilibrium Line to include a combination of a user defined prefix, the Date that the POI Equilibrium Line’s range is from and the Price Level of the Equilibrium Line. The colour and size of the label is also configurable
This indicator will also track when a POI Equilibrium Line has been traded to or ‘Tapped’. The tracking can be started after a configurable number of minutes have elapsed from the end of the POI Time window. This can also be customised in terms of visibility, colour, style, extended toggle and width.
Optionally Taps of the POI Equilibrium Level can be counted as valid during specific time windows or session of the day - for example only count taps during New York Morning Trading session.
The indicator uses Lower Time Frame data to compute the Range and 50% / Equilibrium Level so will work accurately on Chart Timeframes up to and including Daily with The POI Time specified down to a Minute resolution.
Uptrick: TimeFrame Trends: Performance & Sentiment Indicator### **Uptrick: TimeFrame Trends: Performance & Sentiment Indicator (TFT) - In-Depth Explanation**
#### **Overview**
The **Uptrick: TimeFrame Trends: Performance & Sentiment Indicator (TFT)** is a sophisticated trading tool designed to provide traders with a comprehensive view of market trends across multiple timeframes, combined with a sentiment gauge through the Relative Strength Index (RSI). This indicator offers a unique blend of performance analysis, sentiment evaluation, and visual signal generation, making it an invaluable resource for traders who seek to understand both the macro and micro trends within a financial instrument.
#### **Purpose**
The primary purpose of the TFT indicator is to empower traders with the ability to assess the performance of an asset over various timeframes while simultaneously gauging market sentiment through the RSI. By analyzing price changes over periods ranging from one week to one year, and complementing this with sentiment signals, TFT enables traders to make informed decisions based on a well-rounded analysis of historical price performance and current market conditions.
#### **Key Components and Features**
1. **Multi-Timeframe Performance Analysis:**
- **Performance Lookback Periods:**
- The TFT indicator calculates the percentage price change over several predefined timeframes: 7 days (1 week), 14 days (2 weeks), 30 days (1 month), 180 days (6 months), and 365 days (1 year). These timeframes provide a layered view of how an asset has performed over short, medium, and long-term periods.
- **Percentage Change Calculation:**
- The indicator computes the percentage change for each timeframe by comparing the current closing price to the closing price at the start of each period. This gives traders insight into the strength and direction of the trend over different periods, helping them identify consistent trends or potential reversals.
2. **Sentiment Analysis Using RSI:**
- **Relative Strength Index (RSI):**
- RSI is a widely-used momentum oscillator that measures the speed and change of price movements. It oscillates between 0 and 100 and is typically used to identify overbought or oversold conditions. In TFT, the RSI is calculated using a 14-period lookback, which is standard for most RSI implementations.
- **RSI Smoothing with EMA:**
- To refine the RSI signal and reduce noise, TFT applies a 10-period Exponential Moving Average (EMA) to the RSI values. This smoothed RSI is then used to generate buy, sell, and neutral signals based on its position relative to the 50 level:
- **Buy Signal:** Triggered when the smoothed RSI crosses above 50, indicating bullish sentiment.
- **Sell Signal:** Triggered when the smoothed RSI crosses below 50, indicating bearish sentiment.
- **Neutral Signal:** Triggered when the smoothed RSI equals 50, suggesting indecision or a balanced market.
3. **Visual Signal Generation:**
- **Signal Plots:**
- TFT provides clear visual cues directly on the price chart by plotting shapes at the points where buy, sell, or neutral signals are generated. These shapes are color-coded (green for buy, red for sell, yellow for neutral) and are positioned below or above the price bars for easy identification.
- **First Occurrence Trigger:**
- To avoid clutter and focus on significant market shifts, TFT only triggers the first occurrence of each signal type. This feature helps traders concentrate on the most relevant signals without being overwhelmed by repeated alerts.
4. **Customizable Performance & Sentiment Table:**
- **Table Display:**
- The TFT indicator includes a customizable table that displays the calculated percentage changes for each timeframe. This table is positioned on the chart according to user preference (top-left, top-right, bottom-left, bottom-right) and provides a quick reference to the asset’s performance across multiple periods.
- **Dynamic Text Color:**
- To enhance readability and provide immediate visual feedback, the text color in the table changes based on the direction of the percentage change: green for positive (upward movement) and red for negative (downward movement). This color-coding helps traders quickly assess whether the asset is in an uptrend or downtrend for each period.
- **Customizable Font Size:**
- Traders can adjust the font size of the table to fit their chart layout and personal preferences, ensuring that the information is accessible without being intrusive.
5. **Flexibility and Customization:**
- **Lookback Period Customization:**
- While the default lookback periods are set for common trading intervals (7 days, 14 days, etc.), these can be adjusted to match different trading strategies or market conditions. This flexibility allows traders to tailor the indicator to focus on the timeframes most relevant to their analysis.
- **RSI and EMA Settings:**
- The length of the RSI calculation and the smoothing EMA can also be customized. This is particularly useful for traders who prefer shorter or longer periods for their momentum analysis, allowing them to fine-tune the sensitivity of the indicator.
- **Table Position and Appearance:**
- The table’s position on the chart, along with its font size and colors, is fully customizable. This ensures that the indicator can be integrated seamlessly into any chart setup without obstructing key price data.
#### **Use Cases and Applications**
1. **Trend Identification and Confirmation:**
- **Short-Term Traders:**
- Traders focused on short-term movements can use the 7-day and 14-day performance metrics to identify recent trends and momentum shifts. The RSI signals provide additional confirmation, helping traders enter or exit positions based on the latest market sentiment.
- **Swing Traders:**
- For those holding positions over days to weeks, the 30-day and 180-day performance data are particularly useful. These metrics highlight medium-term trends, and when combined with RSI signals, they provide a robust framework for swing trading strategies.
- **Long-Term Investors:**
- Long-term investors can benefit from the 1-year performance data to gauge the overall health and direction of an asset. The indicator’s ability to track performance across different periods helps in identifying long-term trends and potential reversal points.
2. **Sentiment Analysis and Market Timing:**
- **Market Sentiment Tracking:**
- By using RSI in conjunction with performance metrics, TFT provides a clear picture of market sentiment. Traders can use this information to time their entries and exits more effectively, aligning their trades with periods of strong bullish or bearish sentiment.
- **Avoiding False Signals:**
- The smoothing of RSI helps reduce noise and avoid false signals that are common in volatile markets. This makes the TFT indicator a reliable tool for identifying true market trends and avoiding whipsaws that can lead to losses.
3. **Comprehensive Market Analysis:**
- **Multi-Timeframe Analysis:**
- TFT’s ability to analyze multiple timeframes simultaneously makes it an excellent tool for comprehensive market analysis. Traders can compare short-term and long-term performance to understand the broader market context, making it easier to align their trading strategies with the overall trend.
- **Performance Benchmarking:**
- The percentage change metrics provide a clear benchmark for an asset’s performance over time. This information can be used to compare the asset against broader market indices or other assets, helping traders make more informed decisions about where to allocate their capital.
4. **Custom Strategy Development:**
- **Tailoring to Specific Markets:**
- TFT can be customized to suit different markets, whether it’s stocks, forex, commodities, or cryptocurrencies. For instance, traders in volatile markets may opt for shorter lookback periods and more sensitive RSI settings, while those in stable markets may prefer longer periods for a smoother analysis.
- **Integrating with Other Indicators:**
- TFT can be used alongside other technical indicators to create a more comprehensive trading strategy. For example, combining TFT with moving averages, Bollinger Bands, or MACD can provide additional layers of confirmation and reduce the likelihood of false signals.
#### **Best Practices for Using TFT**
- **Regularly Adjust Lookback Periods:**
- Depending on the market conditions and the asset being traded, it’s important to regularly review and adjust the lookback periods for the performance metrics. This ensures that the indicator remains relevant and responsive to current market trends.
- **Combine with Volume Analysis:**
- While TFT provides a solid foundation for trend and sentiment analysis, combining it with volume indicators can further enhance its effectiveness. Volume can confirm the strength of a trend or signal potential reversals when divergences occur.
- **Use RSI with Other Momentum Indicators:**
- Although RSI is a powerful tool on its own, using it alongside other momentum indicators like Stochastic Oscillator or MACD can provide additional confirmation and help refine entry and exit points.
- **Customize Table Settings for Clarity:**
- Ensure that the performance table is positioned and sized appropriately on the chart. It should be easily readable without obstructing important price data. Adjust the text size and colors as needed to maintain clarity.
- **Monitor Multiple Timeframes:**
- Utilize the multi-timeframe analysis feature of TFT to monitor trends across different periods. This helps in identifying the dominant trend and avoiding trades that go against the broader market direction.
#### **Conclusion**
The **Uptrick: TimeFrame Trends: Performance & Sentiment Indicator (TFT)** is a comprehensive and versatile tool that combines the power of multi-timeframe performance analysis with sentiment gauging through RSI. Its ability to customize and adapt to various trading strategies and markets makes it a valuable asset for traders at all levels. By offering a clear visual representation of trends and market sentiment, TFT empowers traders to make more informed and confident trading decisions, whether they are focusing on short-term price movements or long-term investment opportunities. With its deep integration of performance metrics and sentiment analysis, TFT stands out as a must-have indicator for any trader looking to gain a holistic understanding of market dynamics.
TFC Alerts Multi Time Frame
TFC Alerts Multi Time Frame
The TFC Alerts Multi Time Frame indicator is a powerful tool designed to monitor full timeframe continuity (FTFC) across multiple symbols and multiple timeframes simultaneously. This indicator tracks the performance of four selected symbols (e.g., SPY, QQQ, DIA, IWM) across four distinct timeframes, providing visual alerts when all selected symbols are in full continuity.
### Key Features:
- **Multi-Timeframe Monitoring:** Track up to four different symbols across four separate timeframes (e.g., 60-minute, daily, weekly, monthly) in a single indicator, offering a comprehensive view of market continuity over various time horizons.
- **FTFC Alerts:** The indicator provides visual labels on the chart when all selected symbols are in full continuity across the chosen timeframes. Green labels indicate that all symbols are above their open prices across all timeframes (bullish FTFC), while red labels show that all symbols are below their open prices (bearish FTFC).
- **Versatile Timeframe Selection:** Each symbol is monitored across four customizable timeframes. Traders can adjust these to fit their trading strategy, whether they are looking at shorter intraday intervals like 5-minute, 15-minute, 30-minute, and 60-minute, or longer-term perspectives such as daily, weekly, monthly, and even quarterly timeframes.
### Image Explanation:
- **Full Timeframe Continuity Overview:** This image illustrates the indicator set to monitor the 5-minute, 15-minute, 30-minute, and 60-minute timeframes for each of the four symbols (SPY, QQQ, DIA, IWM). The FTFC labels plot on the chart when all four timeframes for each symbol align in the same direction. This setup is flexible and can easily be adjusted to longer timeframes such as the 60-minute, daily, weekly, and monthly intervals, depending on the trader’s preferred time horizon.
### Most Powerful Use Case:
The most powerful way to use this indicator is to confirm market trends across your chosen timeframes by monitoring major indices or sector ETFs. For short-term traders, setting the indicator to track 5-minute, 15-minute, 30-minute, and 60-minute timeframes allows for quick identification of intraday trends. For longer-term traders, adjusting the timeframes to 60-minute, daily, weekly, and monthly (or even quarterly and yearly) provides a robust analysis of market alignment over extended periods. This versatility makes it invaluable for executing trades that align with broader market momentum, regardless of the trading horizon.
Kenji 2.0KenJi 2.0
Class : average analysis/trend following
Trading type : any
Time frame : any
Purpose : work in trend
Level of aggressiveness : any
About Kenji
The Kenji 2.0 indicator represents a fresh perspective on average analysis. Traditional trading strategies and indicators reliant on average analysis often generate a lot of false signals, particularly in flat market conditions characterized by frequent average crossovers and directional changes. Consequently, their efficacy and potency are compromised.
The "Kenji" Indicator overcomes these limitations through a unique algorithm (based on combination of correlation analysis and moving average analysis) designed to circumvent common pitfalls associated with average analysis. By accurately identifying the current market state—indicated by color (red for a downward trend, blue for an uptrend, and green for a flat market)—the Kenji indicator enhances signal quality, enabling traders to navigate local trends comfortably.
This indicator not only generates signals for entering positions at optimal times but also provides guidance on profit-taking. Additionally, it assists in assessing signal aggressiveness, making it a valuable tool for both novice and experienced traders.
Rules of Trading
The rules of trading with the indicator are very simple: when the price enters the buy/sell zone (depicted by a blue/red colored area between the fast and slow averages), a signal to enter a position is generated. This position remains valid until either the market state changes (e.g., a shift from a downtrend to a flat or an uptrend) or a signal to close it appears (indicated by a blue/red cross, signaling a significant divergence between the price and average values).
Structure of the Indicator
The indicator comprises colored zones and level lines:
- Colored zones (marked blue, red, or green) are utilized for identifying trading opportunities and detecting entry points.
- Level lines (marked red and blue depending on the current price direction) are employed to identify whether the current price direction is upward or downward.
To streamline the trading process, the indicator displays "buy" and "sell" signals on the chart.
These signals are categorized into two groups: standard (trading with the basic lot size) and aggressive (trading with double the basic lot size). Additionally, take-profit zones are visualized on the chart using blue/red x-crosses. Red x-crosses indicate zones where profits on "sell" positions should be taken, while blue x-crosses indicate zones where profits on "buy" positions should be taken.
Input Parameters of the Indicator
The indicator utilizes several input parameters for configuration:
Slow Average Period: This parameter determines the period of the slow average. A larger period results in a more conservative response of the average to price changes.
Fast Average Period: This parameter determines the period of the fast average. Similar to the slow average period, a larger period leads to a more conservative response of the average to price changes.
Correlation Period: This parameter is utilized in correlation analysis to calculate the level of interconnection between the averages.
Stop Sensitivity: This parameter determines the take-profit zones displayed on the chart in the form of red/blue x-crosses. A higher parameter value corresponds to a larger take-profit value.
Version 2.0 updates:
Alerts and Notifications are added ("sell" and "buy" signals are sent as Alerts and Notifications).
Improved vizualisation
Improved algorithm (mechanics of stop-loss marks in modified)
Access to the indicator
Please address all questions about this indicator (including access to it) in private messages.
MTF AnalysisMTF Analysis - Multi-Timeframe TradingView Script
Overview: The "MTF Analysis" script provides a comprehensive approach to analyzing price trends across daily, weekly, and monthly timeframes using linear regression channels. It helps traders identify strong and weak bullish or bearish conditions based on the relationship between the current price and regression lines derived from multiple timeframes.
Key Features:
User-Defined Inputs:
Regression Lengths: Customize regression lengths for daily, weekly, and monthly timeframes.
Smoothing Length: Apply smoothing to regression lines.
Near-Zero Threshold: Filter out signals near a defined slope threshold for more refined analysis.
Daily Time Frame Filter: Optional filter to consider daily regression slope in signal generation.
Regression Line Calculation:
The script calculates linear regression lines for each timeframe (daily, weekly, monthly) and applies a smoothing function to refine the signals.
Signal Conditions:
Strong Bullish/Bearish: Signals generated when the price is consistently above/below weekly and monthly regression lines, with the option to apply the daily timeframe filter.
Weak Bullish/Bearish: Signals generated when the price is above/below the monthly regression line alone.
Visual Indicators:
The script plots regression lines on the chart with different colors for easy identification.
It also displays arrows on the chart to indicate strong or weak bullish/bearish signals.
Alerts:
Custom alerts for each signal condition help traders stay informed of potential trading opportunities.
This script is highly customizable, allowing traders to tailor it to their specific trading style and preferences.
This summary can be used to introduce the script to other traders or for publication on platforms like TradingView.
Panoramic VWAP### Panoramic VWAP Indicator Overview
The Panoramic VWAP indicator provides a way to display up to four Volume Weighted Average Price (VWAP) lines on a chart, each anchored to different timeframes. This indicator also includes options for displaying standard deviation bands and close lines, offering a comprehensive view of price action across multiple time horizons.
### Key Features
Quad VWAPs : The indicator allows for the display of four VWAP lines simultaneously. Each line can be set to a different timeframe, enabling traders to analyze market conditions across various periods on a single chart.
Standard Deviation Bands : Users can enable bands around each VWAP line, which represent standard deviations or percentage levels from the VWAP. These bands help in assessing volatility and identifying potential overbought or oversold conditions.
Close Lines : The indicator includes an option to show close lines, marking the price's closing level relative to the VWAP. This feature is useful for examining how the market closes in relation to VWAP, which can be important for understanding trend strength or potential reversals.
### How It Looks
VWAP Lines : Multiple VWAP lines are displayed, each reflecting different timeframes. The lines change color depending on whether the price is above or below the VWAP, indicating bullish or bearish momentum.
Bands : Optional bands around the VWAP lines provide a visual indication of volatility, with the potential to identify overbought or oversold areas.
Close Lines : These lines represent the price's closing level relative to the VWAP and can be displayed to add further context to the analysis.
### How to Use It
Trend Analysis :
- Price above a VWAP line indicates bullish momentum .
- Price below a VWAP line suggests bearish momentum .
Support and Resistance :
- VWAP lines often act as dynamic support and resistance. Price approaching a VWAP line from above may find support, while approaching from below may encounter resistance.
Volatility Assessment :
- Bands around the VWAP lines can signal areas of potential reversal. Upper bands may indicate overbought conditions, while lower bands may indicate oversold conditions.
Multiple Timeframe Analysis :
- The ability to display VWAPs from different timeframes simultaneously allows for the identification of confluence zones, where multiple VWAP levels align, indicating potentially significant support or resistance levels.
Customization :
- The indicator settings are customizable, allowing users to choose which VWAP lines, bands, and close lines to display, along with adjustments for visual preferences like line thickness and colors.
### Practical Application
Intraday Trading : Traders can use the VWAPs and bands to identify potential entry and exit points during the trading day based on price interactions with these levels.
Swing Trading : Monitoring VWAP lines across different timeframes can help identify key levels where price might reverse or gain momentum, aiding in decisions about holding or exiting positions.
Long-Term Analysis : VWAP lines on higher timeframes can serve as dynamic support or resistance levels, providing context for long-term trend analysis and investment decisions.
The Panoramic VWAP indicator allows for a detailed analysis of price trends and levels across multiple timeframes, combining VWAPs, standard deviation bands, and close lines in a single, customizable tool.
MTF Volume Flow IndicatorThe MTF Volume Flow Indicator (MTF VFI) is an advanced and versatile tool that enhances market analysis by tracking the flow of volume across multiple timeframes. By integrating volume flow with multi-timeframe analysis, this indicator provides traders with a comprehensive understanding of market trends, momentum, and potential reversals.
Key Features
Multi-Timeframe Volume Flow Analysis: The MTF VFI computes the Volume Flow Indicator across various timeframes, ranging from 1 minute to 1 month. This multi-timeframe analysis enables traders to observe and compare volume flow dynamics across different time horizons, offering deeper insights into market behavior.
Customizable VFI Settings: The indicator includes configurable VFI parameters such as length, coefficient, and volume cutoff, allowing users to tailor the analysis to different market conditions and trading strategies. This flexibility ensures that the indicator remains relevant across diverse market environments.
Signal Line and Delta Calculations: The script features a signal line derived from the VFI and calculates the delta values (the difference between VFI and the signal line). These delta values are essential for identifying potential buy or sell signals and are presented as histograms for easy visual interpretation.
Cumulative Delta with Dynamic Bands: The indicator introduces cumulative delta, a powerful tool that combines average and median VFI values to provide a clearer picture of market sentiment. Two standard deviation bands are plotted around the cumulative delta, offering a range within which price movements are likely to remain. These bands are smoothed using a 21-period EMA, providing a more refined view of market volatility.
Multi-Timeframe and Analysis Tables: The MTF VFI includes optional tables that display VFI, signal line, and delta values across all selected timeframes. Additionally, an analysis table presents key statistical metrics such as the highest, lowest, average, standard deviation, range, and median VFI values. These tables provide a concise summary of market conditions, aiding in strategic decision-making.
Dynamic Display Options: The indicator offers extensive customization options, allowing traders to display or hide elements such as delta histograms, delta bands, and tables. This ensures that users can focus on the most relevant information for their trading strategy.
Neutral Candle Coloring Option: Traders can enable neutral candle colors, where bearish candles are gray and bullish candles are white. This feature helps to reduce noise and maintain focus on the overall trend and volume flow analysis.
How It Works
Volume Flow Indicator Calculation: The VFI is calculated using a combination of typical price, volume, and the standard deviation of price changes. The indicator smooths the VFI based on user preferences, allowing traders to adjust the sensitivity of the analysis to better match their trading style.
Multi-Timeframe Integration: The script pulls VFI calculations from multiple timeframes, providing a holistic view of market trends. By analyzing VFI across different timeframes, traders can detect alignments or divergences in volume flow that might indicate trend strength or weakness.
Cumulative Delta and Dynamic Bands: The cumulative delta is computed by combining the average and median VFI values. Dynamic two-standard-deviation bands are plotted around this cumulative delta, providing upper and lower bounds for expected price movements. These bands are further smoothed with a 21-period EMA, enhancing their effectiveness in volatile markets.
Delta Analysis and Histogram Display: The difference between the VFI and its signal line (delta) is calculated and displayed as histograms. This visual representation helps traders quickly assess momentum and identify potential reversals or trend continuations. The cumulative delta is color-coded dynamically based on its direction, adding an extra layer of visual clarity.
Alerts
VFI Crossover Alerts: The indicator includes customizable alerts that notify traders when the VFI crosses above or below its signal line. These alerts are crucial for catching potential trend reversals or continuation signals, even when the trader is not actively monitoring the chart.
Customizable Alert Conditions: Traders can tailor alert conditions to their preferred timeframes and VFI settings, ensuring that the notifications they receive are relevant and timely for their specific trading strategies.
Application
Trend Identification and Confirmation: The MTF VFI aids in identifying and confirming trends by analyzing volume flow across multiple timeframes. This capability is particularly useful for detecting trends that may not be visible on a single timeframe.
Momentum and Divergence Analysis: By comparing VFI and delta values across timeframes, and analyzing cumulative delta with dynamic bands, traders can gain insights into market momentum and potential divergences, which are often precursors to reversals.
Strategic Decision-Making: With its comprehensive multi-timeframe analysis, cumulative delta, and statistical summaries, the MTF VFI equips traders with the information needed to make informed trading decisions, whether for short-term trades or long-term investments.
Visual Clarity and Customization: The indicator’s dynamic display options and neutral candle coloring help traders maintain a clear and focused view of the market, customizing the visualization to match their specific needs.
The MTF Volume Flow Indicator (MTF VFI) by CryptoSea is an essential tool for traders who seek to gain a deeper understanding of market trends and volume dynamics across multiple timeframes. Its advanced features and customization options make it a valuable addition to any trader’s toolkit.
MTF Candle Multi HubMTF Candle Multi Hub Indicator - Guide 日本語解説は下記
Introduction
The "MTF Candle Multi Hub" indicator is a versatile and comprehensive tool designed to visualize multiple timeframes' candlestick data, Heikin Ashi candles, and moving averages on a single chart. This indicator also includes a Zigzag feature with the ability to draw horizontal lines at significant swing points, making it a powerful tool for technical analysis.
Key Features
Multi-Timeframe Candlestick Display:
The indicator allows you to display candlesticks from different timeframes, including 5-minute, 15-minute, 1-hour, 4-hour, daily, and weekly timeframes.
Each timeframe's candlestick can be toggled on or off using the settings panel.
Candlesticks are color-coded based on whether the close is higher or lower than the open, with customizable colors for bullish and bearish candles.
Heikin Ashi Candlesticks:
Heikin Ashi candlesticks are also available for 5-minute, 15-minute, 1-hour, 4-hour, daily, and weekly timeframes.
Like the standard candlesticks, these can be toggled on or off, and their colors are customizable.
Moving Averages (MA):
The indicator supports up to four different moving averages, which can be either Simple Moving Average (SMA) or Exponential Moving Average (EMA).
The user can toggle each moving average on or off and adjust the period and type from the settings panel.
An additional feature allows the space between two moving averages to be filled with a color, indicating the relative position of the MAs.
Zigzag Indicator with Horizontal Lines:
The Zigzag feature plots lines between significant swing highs and lows, helping identify trends and potential reversal points.
Two Zigzag lines can be configured, each with customizable swing length, line color, style, and width.
The indicator also offers the ability to draw horizontal lines at the start and end of each Zigzag swing. These horizontal lines can be customized in terms of color, style, width, and length.
The number of horizontal lines to be drawn can be set, allowing for focused analysis of the most recent swings.
Label and Comment Display:
The indicator provides the option to display custom labels and comments on the chart.
You can enter up to ten different comments, which will be displayed in a label at the last candlestick of the chart.
The label's position, background color, text color, and text size are fully customizable.
Trading Strategy
Trend Following with Multi-Timeframe Analysis:
Use the multi-timeframe candlestick and Heikin Ashi features to assess the trend across different timeframes. For example, if both the daily and 4-hour Heikin Ashi candles are bullish, it may indicate a strong uptrend.
Entry and Exit Signals:
Use the Zigzag indicator to identify potential entry points by looking for a new swing high or low.
Horizontal lines from the Zigzag can be used as support and resistance levels, helping to determine potential entry and exit points.
Moving Average Crossovers:
Monitor the crossovers of the moving averages. For example, when a shorter-term MA crosses above a longer-term MA, it may signal a potential buy opportunity.
Confluence of Signals:
The best trading opportunities may arise when multiple signals align. For example, a bullish Zigzag swing, supported by bullish Heikin Ashi candles and a moving average crossover, could provide a strong buy signal.
Disclaimer
For Educational Purposes Only: This indicator is provided for educational purposes and should not be used as the sole basis for any trading decisions.
No Guarantees: The indicator is provided "as is" without any guarantees of accuracy or completeness. Market conditions can change rapidly, and this indicator may not always reflect the most accurate market state.
Test Thoroughly: Bugs may exist in the script. It is highly recommended to test this script on a demo account before using it in live trading.
Use with Caution: Always use this indicator in conjunction with other analysis tools. Do not rely solely on this indicator for making trading decisions.
Sudden Changes or Removal: The indicator may be subject to sudden changes or removal without prior notice. The developer is not responsible for any issues this may cause.
By using this indicator, you agree to these terms.
MTF Candle Multi Hub インジケーター - ガイド
はじめに
「MTF Candle Multi Hub」インジケーターは、複数の時間枠のローソク足データ、平均足、移動平均線を1つのチャート上で視覚化するために設計された多用途かつ包括的なツールです。このインジケーターには、水平線を描画する機能を備えたジグザグ機能も含まれており、テクニカル分析において強力なツールとなります。
主な機能
マルチタイムフレームのローソク足表示:
5分足、15分足、1時間足、4時間足、日足、週足のローソク足を表示することができます。
各時間枠のローソク足は設定パネルでオンまたはオフに切り替えることができます。
ローソク足は、終値が始値より高いか低いかに基づいて色分けされており、強気と弱気のローソク足の色をカスタマイズできます。
平均足ローソク足:
5分足、15分足、1時間足、4時間足、日足、週足の平均足ローソク足を表示することができます。
標準のローソク足と同様に、これらをオンまたはオフに切り替え、色をカスタマイズすることが可能です。
移動平均線（MA）:
このインジケーターは、単純移動平均線（SMA）または指数移動平均線（EMA）のいずれかを選択できる4つの移動平均線をサポートしています。
各移動平均線をオンまたはオフに切り替え、期間やタイプを設定パネルから調整できます。
また、2本の移動平均線の間に色を塗ることで、MAの相対的な位置を視覚的に表示する機能もあります。
ジグザグインジケーターと水平線:
ジグザグ機能は、重要なスイングの高値と安値の間に線を引き、トレンドや潜在的な反転ポイントを識別するのに役立ちます。
2本のジグザグラインを設定することができ、それぞれのスイングの長さ、線の色、スタイル、幅をカスタマイズできます。
また、ジグザグのスイングの始点と終点に水平線を描画する機能も提供されています。これらの水平線は、色、スタイル、幅、長さをカスタマイズできます。
描画する水平線の本数を設定でき、最新のスイングに焦点を当てた分析が可能です。
ラベルとコメントの表示:
インジケーターは、チャート上にカスタムラベルとコメントを表示するオプションを提供します。
最大10個の異なるコメントを入力することができ、これらはチャートの最新のローソク足にラベルとして表示されます。
ラベルの位置、背景色、テキストの色、テキストのサイズは完全にカスタマイズ可能です。
トレード戦略
マルチタイムフレーム分析を使用したトレンドフォロー:
マルチタイムフレームのローソク足や平均足の機能を使用して、異なる時間枠でのトレンドを評価します。例えば、日足と4時間足の平均足が共に強気であれば、強い上昇トレンドを示している可能性があります。
エントリーとエグジットシグナル:
ジグザグインジケーターを使用して、新たなスイング高値または安値を確認し、エントリーポイントを見極めます。
ジグザグの水平線をサポートおよびレジスタンスレベルとして使用し、エントリーやエグジットのタイミングを判断します。
移動平均線のクロスオーバー:
移動平均線のクロスオーバーを監視します。例えば、短期の移動平均線が長期の移動平均線を上抜けた場合、買いのシグナルとなる可能性があります。
シグナルのコンフルエンス:
複数のシグナルが一致する場合、最も良いトレード機会が生まれるかもしれません。例えば、強気のジグザグスイング、強気の平均足、移動平均線のクロスオーバーが揃うと、強力な買いシグナルとなる可能性があります。
免責事項
教育目的のみ: このインジケーターは教育目的で提供されており、トレードの決定を行う際の唯一の基準として使用すべきではありません。
保証なし: インジケーターは「現状のまま」提供されており、その正確性や完全性についての保証はありません。市場の状況は急速に変化する可能性があり、このインジケーターが常に最も正確な市場状況を反映するとは限りません。
十分なテストを: このスクリプトにはバグが存在する可能性があります。実際のトレードで使用する前に、デモ口座で十分にテストすることを強くお勧めします。
慎重に使用: このインジケーターを他の分析ツールと併用して使用してください。このインジケーターだけに頼ってトレードの決定を行うべきではありません。
突然の変更や削除の可能性: このインジケーターは予告なく変更や削除が行われる場合があります。そのため、利用者に不利益が生じる可能性がありますが、開発者はその責任を負いません。
このインジケーターを使用することで、これらの条件に同意したものとみなされます。
Control Candle Range [UkutaLabs]Control Candle Range
█ OVERVIEW
The Control Candle Range is a powerful trading tool that automatically identifies control candles in real time. The versatile ranges drawn by this indicator can be used in a variety of trading strategies because they can be used as ranges as well as areas of support and resistance.
The purpose of this script is to simplify the trading experience of users by automatically identifying and displaying Control Candle Ranges.
█ USAGE
A Control Candle is a candle that is followed by two consecutive inside candles. When this pattern is detected, this indicator will automatically identify it and draw a range in real time. This range will continue to extend as long as candles continue to close within the range of the Control Candle. It is important to note that a Control Candle is still valid if the price action exits its range as long as it closes within its range.
This script also supports higher time frame mapping, allowing you to draw Control Candle Ranges from higher timeframes onto lower timeframe charts. This is a powerful feature that allows users to see multiple timeframes worth of information at a glance on one single chart.
Each Control Candle Range will also be displayed with a label to allow users to understand at a glance which timeframe the range is being drawn from. These labels can be turned off in the settings.
The user also has the ability to adjust the color of each timeframe’s ranges.
█ SETTINGS
Configuration
• Show Labels: Determines whether or not identifying labels are displayed on ranges.
• Label Size: Determines the size of labels.
• Text Alignment: Determines where labels are drawn on ranges.
• Max Display: Determines the maximum number of ranges that can be drawn from each timeframe.
Current Timeframe
• Display (On/Off): Determines whether or not ranges from the current timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the current timeframe.
5 Minute (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the 5 minute timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the 5 minute timeframe.
15 Minute (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the 15 minute timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the 15 minute timeframe.
30 Minute (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the 30 minute timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the 30 minute timeframe.
60 Minute (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the 60 minute timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the 60 minute timeframe.
240 Minute (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the 240 minute timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the 240 minute timeframe.
Daily (Higher Timeframe)
• Display (On/Off): Determines whether or not ranges from the daily timeframe will be drawn on the chart.
• Color: Determines the color of ranges drawn from the daily timeframe.
Dual Timeframe Williams Percent RangeThis is a dual timeframe Williams Percent Range indicator.
Function:
The idea behind this indicator is for trader to see what the Williams %r is doing on higher timeframes without the need to change the chart. I added the "Smoothing" function to take the jagged lines out of the higher timeframe. It has a better flow this way.
If we choose the 4H and the Daily timeframes for example. In this bullish situation I wait for the Daily WPR to cross above the -50 mid line. Then the faster 4H WPR will eventually hit the bottom and begin to rise again back into the trend.
This is the "Reset" of the 4H WPR and when the 4H WPR crosses up above the -50 mid line again it means price should begin to rise on the chart. I added the option to change the colour when the signal lines cross the -50. It is good to use a fast time frame so you can see the WPR hitting the bottom in an uptrend, but not too fast.
The Heiken Ashi candle sticks are a very good addition to this system. You can also use a colour changing 200 EMA if you run the "1H/Daily" in the WPR. Or the 50 EMA if you run the Daily 4H.
This system could be used on lower timeframes too but I have not tested it there.
The Dual WPR indicator, the colour changing 50 EMA and Heiken Ashi have been optimised for the 4H/Daily.
If you want to set alerts the the faster WPR line crossing the -50 is good, on candle close.
This way you will only need one alert per chart.
If you get an alert on the EURUSD 4H that the 4H WPR has crossed up then look to see what what the Daily WPR is doing. If it is also above the -50 mid line then EURUSD is probably trending up.
Thank you to TradingView for supplying the Williams %r template.
I hope this helps some other traders out there.
I combined the Supertrend and the Coloured EMA in the main screen into one indicator.
This is my first indicator published :-)
Have fun out there and good luck.
Eddie T.
