Crypto Narratives: Relative StrengthThis indicator offers a unique perspective on the crypto market by focusing on the relative strength of different narratives. It aggregates RSI data from multiple tokens associated with each narrative, providing a comprehensive view of the sentiment and momentum behind these themes. You can use it to take profit, find W bottoms or M tops to enter and exit narratives. and generally see what hot at the moment with lots of pretty colours.
This indicator tracks the relative strength of various crypto narratives using the Relative Strength Index (RSI) of representative tokens. It allows users to gauge the momentum and sentiment behind different themes in the cryptocurrency market.
Functionality:
The indicator calculates the average RSI values for the current leading tokens associated with ten different crypto narratives:
- AI (Artificial Intelligence)
- Ordinals
- DeFi (Decentralized Finance)
- Memes
- Gaming
- Level 1 (Layer 1 Protocols)
- Sol Betas (Solana Ecosystem)
- Storage/DePin
- RWA (Real-World Assets)
- ReStaking
he average RSI values for each narrative are calculated by summing the RSI values of the associated tokens and dividing by the number of tokens. The indicator plots the 3-period simple moving average (SMA) of each narrative's RSI using different colors and line styles.
Users can customize the RSI length, line width, and label offset through the input options. If the "Show Labels" option is enabled, the indicator displays labels for each narrative's RSI value on the most recent bar.
The indicator also includes horizontal lines representing overbought and oversold levels, which can be adjusted through the input options. Alerts are triggered when a narrative's RSI crosses above the overbought level or below the oversold level. The alerts include the narrative name, RSI value, and a suggestion to consider selling or buying.
Осцилляторы
FVG OscillatorThe FVG Oscillator, developed by OmegaTools and available on TradingView, is a specialized analytical tool designed to offer traders insight into the market's potential direction through the lens of Fair Value Gaps (FVGs). This script combines traditional oscillator functionality with a unique focus on FVGs, providing a nuanced approach to understanding market dynamics.
Understanding FVGs and Their Importance:
Fair Value Gaps (FVGs) are identified when there's a discrepancy between the high price of one session and the low of the subsequent session (or vice versa), indicating areas where price movements have skipped over, creating a gap. These gaps often signal potential price movement areas, as markets may move to "fill" these gaps. The FVG Oscillator is designed to quantify these occurrences and their potential impact on market direction.
Key Features of the FVG Oscillator:
- Adjustable Lookback Period: Traders can set the number of bars back (defaulted at 50) to adjust the sensitivity of the oscillator to recent market activity.
- Visual Area Representation: The option to display areas of positive and negative FVG occurrences provides a visual representation of market sentiment over the selected period.
- Color Customisation: Users can personalize the oscillator's appearance with color selections for positive and negative movements, enhancing readability and analysis.
- Volume and ATR Confirmation: Incorporates volume data and Average True Range (ATR) filtering to verify FVG occurrences, adding a layer of validation to the identified gaps.
Operational Mechanism:
The oscillator tallies bullish FVG occurrences as positive values and bearish FVG occurrences as negative values over the specified lookback period. It then applies volume and ATR criteria to confirm the significance of these gaps. The final output is an oscillator line that reflects the net value of bullish versus bearish FVGs, alongside histograms that show the width (or significance) of long and short patterns based on confirmed FVGs.
How to Use the FVG Oscillator:
- After adding the FVG Oscillator to your TradingView chart, adjust the 'Bars Back' input to tailor the oscillator's sensitivity to your trading strategy.
- Use the net value line to gauge the overall market sentiment based on FVG occurrences; a higher net value suggests bullish sentiment, while a lower value indicates bearish sentiment.
- The histograms provide an additional layer of insight, highlighting the relative strength and significance of confirmed bullish and bearish FVGs.
Application in Trading:
The FVG Oscillator is intended as an analytical tool to complement your existing trading strategy. By offering a unique perspective on FVG occurrences and their potential market implications, the oscillator can help inform your trading decisions. However, traders are encouraged to combine this tool with other forms of analysis and employ sound risk management practices.
Originality and Usefulness:
This oscillator is original in its integration of FVG analysis with traditional oscillator metrics, offering traders a novel tool for market analysis. Its usefulness lies in its ability to provide a quantitative and visual representation of FVGs, aiding traders in identifying potential market movements.
Disclaimer:
It is important for traders to understand that the financial markets are inherently unpredictable, and the FVG Oscillator is not a predictive tool nor does it guarantee trading success. It should be used as part of a comprehensive trading strategy, incorporating additional market analysis and risk management practices. Remember, past performance does not necessarily predict future results, and trading involves risks, including the potential loss of capital.
Fair Value Gaps Mitigation Oscillator [LuxAlgo]The Fair Value Gaps Mitigation Oscillator is an oscillator based on the traditional Fair Value Gaps (FVGs) imbalances. The oscillator displays the current total un-mitigated values for the number of FVGs chosen by the user.
The indicator also displays each New FVG as a bar representing the current ratio of the New FVG in relation to the current un-mitigated total for its direction.
🔶 USAGE
When an FVG forms, it is often interpreted as strong market sentiment in the direction of the gap. For example, an upward FVG during an uptrend is typically seen as a confirmation of the strength and continuation of the trend, as it indicates that buyers are willing to purchase at higher prices without much resistance, suggesting strong demand and positive sentiment.
By analyzing the mitigation (or lack thereof), we can visualize the increase of directional strength in a trend. This is where the proposed oscillator is useful.
🔶 DETAILS
The oscillator's values are expressed as Percentages (%). Each FVG is allocated 100% of the total of its width with a max potential value of 100 and minimum potential value of 0.
Based on the "FVG Lookback" Input, the FVGs are scaled to fit within the range of +1 to -1. Using a higher "FVG Lookback" value will allow you to get indications of longer-term trends.
A higher value of the normalized bullish FVG areas suggest a stronger and cleaner uptrend, while lower values of the bearish the normalized bullish FVG areas suggest a stronger and cleaner downtrend.
+1 or -1 indicates that there is a Full Lookback of FVGs, and each one is fully un-mitigated, and the opposite direction of FVGs is entirely Mitigated.
When the price closes over/under or within an FVG it begins to get mitigated, when this happens the % of mitigation is subtracted from the total.
When a New FVG is formed, a Histogram bar is created representing the ratio of the current FVG's width to the total width off all un-mitigated FVGs.
The entire bar represents 100% of total un-mitigated FVG Width.
The filled area represents the current FVG's width relative to the whole.
A 50% hash mark is also displayed for reference.
🔶 SETTINGS
FVG Lookback - Determines the number of FVGs (Bullish and Bearish Pairs) to keep in memory for analysis.
F2X IndexThis script is designed to analyze financial market data, particularly focusing on trends and volatility. It allows users to input parameters such as index length and signal length. The script calculates moving averages and differences between the source data and the moving averages. It also optionally adjusts for volatility using the Average True Range (ATR) and can color the signal based on trend direction. The output includes plots for the index and signal, with customizable colors based on trend and volatility. The script provides a visual representation of market dynamics to aid in decision-making for traders and investors.
AI Adaptive Money Flow Index (Clustering) [AlgoAlpha]🌟🚀 Dive into the future of trading with our latest innovation: the AI Adaptive Money Flow Index by AlgoAlpha Indicator! 🚀🌟
Developed with the cutting-edge power of Machine Learning, this indicator is designed to revolutionize the way you view market dynamics. 🤖💹 With its unique blend of traditional Money Flow Index (MFI) analysis and advanced k-means clustering, it adapts to market conditions like never before.
Key Features:
📊 Adaptive MFI Analysis: Utilizes the classic MFI formula with a twist, adjusting its parameters based on AI-driven clustering.
🧠 AI-Driven Clustering: Applies k-means clustering to identify and adapt to market states, optimizing the MFI for current conditions.
🎨 Customizable Appearance: Offers adjustable settings for overbought, neutral, and oversold levels, as well as colors for uptrends and downtrends.
🔔 Alerts for Key Market Movements: Set alerts for trend reversals, overbought, and oversold conditions, ensuring you never miss a trading opportunity.
Quick Guide to Using the AI Adaptive MFI (Clustering):
🛠 Customize the Indicator: Customize settings like MFI source, length, and k-means clustering parameters to suit your analysis.
📈 Market Analysis: Monitor the dynamically adjusted overbought, neutral, and oversold levels for insights into market conditions. Watch for classification symbols ("+", "0", "-") for immediate understanding of the current market state. Look out for reversal signals (▲, ▼) to get potential entry points.
🔔 Set Alerts: Utilize the built-in alert conditions for trend changes, overbought, and oversold signals to stay ahead, even when you're not actively monitoring the charts.
How It Works:
The AI Adaptive Money Flow Index employs the k-means clustering machine learning algorithm to refine the traditional Money Flow Index, dynamically adjusting overbought, neutral, and oversold levels based on market conditions. This method analyzes historical MFI values, grouping them into initial clusters using the traditional MFI's overbought, oversold and neutral levels, and then finding the mean of each cluster, which represent the new market states thresholds. This adaptive approach ensures the indicator's sensitivity in real-time, offering a nuanced understanding of market trend and volume analysis.
By recalibrating MFI thresholds for each new data bar, the AI Adaptive MFI intelligently conforms to changing market dynamics. This process, assessing past periods to adjust the indicator's parameters, provides traders with insights finely tuned to recent market behavior. Such innovation enhances decision-making, leveraging the latest data to inform trading strategies. 🌐💥
MVRVZ - MVRVZ Top and Bottom Indicator for BTC [Logue]Market Value-Realized Value Z-score (MVRVZ) - The MVRV-Z score measures the value of the bitcoin network by comparing the market cap to the realized value and dividing by the standard deviation of the market cap (market cap – realized cap) / std(market cap)). When the market value is significantly higher than the realized value, the bitcoin network is "overvalued". Very high values have signaled cycle tops in the past and low values have signaled bottoms. For tops, the default trigger value is above 6.85. For bottoms, the indicator is triggered when the MVRVZ is below -0.25 (default).
Composite Trend Oscillator [ChartPrime]CODE DUELLO:
Have you ever stopped to wonder what the underlying filters contained within complex algorithms are actually providing for you? Wouldn't it be nice to actually visually inspect for that? Those would require some kind of wild west styled quick draw duel or some comparison method as a proper 'code duello'. Then it can be determined which filter can 'draw' the quickest from it's computational holster with the least amount of lag and smoothness.
In Pine we can do so, discovering how beneficial that would be. This can be accomplished by quickly switching from one filter to another by input() back and forth, requiring visual memory. A better way could be done by placing two indicators added to the chart and then eventually placed into one indicator pane on top of each other.
By adding a filter() helper function that calls other moving average functions chosen for comparison, it can put to the test which moving average is the best drawing filter suited to our expected needs. PhiSmoother was formerly debuted and now it is utilized in a more complex environment in a multitude of ways along side other commonly utilized filters. Now, you the reader, get to judge for yourself...
FILTER VERSATILITY:
Having the capability to adjust between various smoothing methods such as PhiSmoother, TEMA, DEMA, WMA, EMA, and SMA on historical market data within the code provides an advantage. Each of these filter methods offers distinct advantages and hinderances. PhiSmoother stands out often by having superb noise rejection, while also being able to manipulate the fine-tuning of the phase or lag of the indicator, enhancing responsiveness to price movements.
The following are more well-known classic filters. TEMA (Triple Exponential Moving Average) and DEMA (Double Exponential Moving Average) offer reduced transient response times to price changes fluctuations. WMA (Weighted Moving Average) assigns more weight to recent data points, making it particularly useful for reduced lag. EMA (Exponential Moving Average) strikes a balance between responsiveness and computational efficiency, making it a popular choice. SMA (Simple Moving Average) provides a straightforward calculation based on the arithmetic mean of the data. VWMA and RMA have both been excluded for varying reasons, both being unworthy of having explanation here.
By allowing for adjustment refinements between these filter methods, traders may garner the flexibility to adapt their analysis to different market dynamics, optimizing their algorithms for improved decision-making and performance on demand.
INDICATOR INTRODUCTION:
ChartPrime's Composite Trend Oscillator operates as an oscillator based on the concept of a moving average ribbon. It utilizes up to 32 filters with progressively longer periods to assess trend direction and strength. Embedded within this indicator is an alternative view that utilizes the separation of the ribbon filaments to assess volatility. Both versions are excellent candidates for trend and momentum, both offering visualization of polarity, directional coloring, and filter crossings. Anyone who has former experience using RSI or stochastics may have ease of understanding applying this to their chart.
COMPOSITE CLUSTER MODES EXPLAINED:
In Trend Strength mode, the oscillator behavior signifies market direction and movement strength. When the oscillator is rising and above zero, the market is within a bullish phase, and visa versa. If the signal filter crosses the composite trend, this indicates a potential dynamic shift signaling a possible reversal. When the oscillator is teetering on its extremities, the market is more inclined to reverse later.
With Volatility mode, the oscillator undergoes a transformation, displaying an unbounded oscillator driven by market volatility. While it still employs the same scoring mechanism, it is now scaled according to the strength of the market move. This can aid with identification of ranging scenarios. However, one side effect is that the oscillator no longer has minimum or maximum boundaries. This can still be advantageous when considering divergences.
NOTEWORTHY SETTINGS FEATURES:
The following input settings described offer comprehensive control over the indicator's behavior and visualization.
Common Controls:
Price Source Selection - The indicator offers flexibility in choosing the price source for analysis. Traders can select from multiple options.
Composite Cluster Mode - Choose between "Trend Strength" and "Volatility" modes, providing insights into trend directionality or volatility weighting.
Cluster Filter and Length - Selects a filter for the cluster composition. This includes a length parameter adjustment.
Cluster Options:
Cluster Dispersion - Users can adjust the separation between moving averages in the cluster, influencing the sensitivity of the analysis.
Cluster Trimming - By modifying upper and lower trim parameters, traders can adjust the sensitivity of the moving averages within the cluster, enhancing its adaptability.
PostSmooth Filter and Length - Choose a filter to refine the composite cluster's post-smoothing with a length parameter adjustment.
Signal Filter and Length - Users can select a filter for the lagging signal plot, also having a length parameter adjustment.
Transition Easing - Sensitivity adjustment to influence the transition between bullish and bearish colors.
Enjoy
Wavelet & Fourier Smoothed Volume zone oscillator (W&)FSVZO Indicator id:
USER;e7a774913c1242c3b1354334a8ea0f3c
(only relevant to those that use API requests)
MEANINGFUL DESCRIPTION:
The Volume Zone oscillator breaks up volume activity into positive and negative categories. It is positive when the current closing price is greater than the prior closing price and negative when it's lower than the prior closing price. The resulting curve plots through relative percentage levels that yield a series of buy and sell signals, depending on level and indicator direction.
The Wavelet & Fourier Smoothed Volume Zone Oscillator (W&)FSVZO is a refined version of the Volume Zone Oscillator, enhanced by the implementation of the Discrete Fourier Transform. Its primary function is to streamline price data and diminish market noise, thus offering a clearer and more precise reflection of price trends.
By combining the Wavalet and Fourier aproximation with Ehler's white noise histogram, users gain a comprehensive perspective on volume-related market conditions.
HOW TO USE THE INDICATOR:
The default period is 2 but can be adjusted after backtesting. (I suggest 5 VZO length and NoiceR max length 8 as-well)
The VZO points to a positive trend when it is rising above the 0% level, and a negative trend when it is falling below the 0% level. 0% level can be adjusted in setting by adjusting VzoDifference. Oscillations rising below 0% level or falling above 0% level result in natural trend.
ORIGINALITY & USFULLNESS:
Personal combination of Fourier and Wavalet aproximation of a price which results in less noise Volume Zone Oscillator.
The Wavelet Transform is a powerful mathematical tool for signal analysis, particularly effective in analyzing signals with varying frequency or non-stationary characteristics. It dissects a signal into wavelets, small waves with varying frequency and limited duration, providing a multi-resolution analysis. This approach captures both frequency and location information, making it especially useful for detecting changes or anomalies in complex signals.
The Discrete Fourier Transform (DFT) is a mathematical technique that transforms discrete data from the time domain into its corresponding representation in the frequency domain. This process involves breaking down a signal into its individual frequency components, thereby exposing the amplitude and phase characteristics inherent in each frequency element.
This indicator utilizes the concept of Ehler's Universal Oscillator and displays a histogram, offering critical insights into the prevailing levels of market noise. The Ehler's Universal Oscillator is grounded in a statistical model that captures the erratic and unpredictable nature of market movements. Through the application of this principle, the histogram aids traders in pinpointing times when market volatility is either rising or subsiding.
DETAILED DESCRIPTION:
My detailed description of the indicator and use cases which I find very valuable.
What is oscillator?
Oscillators are chart indicators that can assist a trader in determining overbought or oversold conditions in ranging (non-trending) markets.
What is volume zone oscillator?
Price Zone Oscillator measures if the most recent closing price is above or below the preceding closing price.
Volume Zone Oscillator is Volume multiplied by the 1 or -1 depending on the difference of the preceding 2 close prices and smoothed with Exponential moving Average.
What does this mean?
If the VZO is above 0 and VZO is rising. We have a bullish trend. Most likely.
If the VZO is below 0 and VZO is falling. We have a bearish trend. Most likely.
Rising means that VZO on close is higher than the previous day.
Falling means that VZO on close is lower than the previous day.
What if VZO is falling above 0 line?
It means we have a high probability of a bearish trend.
Thus the indicator returns 0 when falling above 0 (or rising bellow 0) and we combine higher and lower timeframes to gauge the trend.
In the next Image you can see that trend is positive on 4h, neutral on 12h and positive on 1D. That means trend is positive.
I am sorry, the chart is a bit messy. The idea is to use the indicator over more than 1 Timeframe.
What is approximation and smoothing?
They are mathematical concepts for making a discrete set of numbers a
continuous curved line.
Fourier and Wavelet approximation of a close price are taken from aprox library.
Key Features:
You can tailor the indicator to your preferences with adjustable parameters such as VZO length, noise reduction settings, and smoothing length.
Volume Zone Oscillator (VZO) shows market sentiment with the VZO, enhanced with Exponential Moving Average (EMA) smoothing for clearer trend identification.
Noise Reduction leverages Euler's White noise capabilities for effective noise reduction in the VZO, providing a cleaner and more accurate representation of market dynamics.
Choose between the traditional Fast Fourier Transform (FFT), the innovative Double Discrete Fourier Transform (DTF32) and Wavelet soothed Fourier soothed price series to suit your analytical needs.
Image of Wavelet transform with FAST settings, Double Fourier transform with FAST settings. Improved noice reduction with SLOW settings, and standard FSVZO with SLOW settings:
Fast setting are setting by default:
VZO length = 2
NoiceR max Length = 2
Slow settings are:
VZO length = 5 or 7
NoiceR max Length = 8
As you can see fast setting are more volatile. I suggest averaging fast setting on 4h 12h 1d 2d 3d 4d W and M Timeframe to get a clear view on market trend.
What if I want long only when VZO is rising and above 15 not 0?
You have set Setting VzoDifference to 15. That reduces the number of trend changes.
Example of W&FSVZO with VzoDifference 15 than 0:
VZO crossed 0 line but not 15 line and that's why Indicator returns 0 in one case an 1 in another.
What is Smooth length setting?
A way of calculating Bullish or Bearish FSVZO.
If smooth length is 2 the trend is rising if:
rising = VZO > ta.ema(VZO, 2)
Meaning that we check if VZO is higher that exponential average of the last 2 elements.
If smooth length is 1 the trend is rising if:
rising = VZO_ > VZO_
Rising is boolean value, meaning TRUE if rising and FALSE if falling.
Mathematical equations presented in Pinescript:
Fourier of the real (x axis) discrete:
x_0 = array.get(x, 0) + array.get(x, 1) + array.get(x, 2)
x_1 = array.get(x, 0) + array.get(x, 1) * math.cos( -2 * math.pi * _dir / 3 ) - array.get(y, 1) * math.sin( -2 * math.pi * _dir / 3 ) + array.get(x, 2) * math.cos( -4 * math.pi * _dir / 3 ) - array.get(y, 2) * math.sin( -4 * math.pi * _dir / 3 )
x_2 = array.get(x, 0) + array.get(x, 1) * math.cos( -4 * math.pi * _dir / 3 ) - array.get(y, 1) * math.sin( -4 * math.pi * _dir / 3 ) + array.get(x, 2) * math.cos( -8 * math.pi * _dir / 3 ) - array.get(y, 2) * math.sin( -8 * math.pi * _dir / 3 )
Euler's Noice reduction with both close and Discrete Furrier approximated price.
w = (dft1*src - dft1 *src ) / math.sqrt(math.pow(math.abs(src- src ),2) + math.pow(math.abs(dft1 - dft1 ),2))
filt := na(filt ) ? 0 : c1 * (w*dft1 + nz(w *dft1 )) / 2.0 /math.abs(dft1 -dft1 ) + c2 * nz(filt ) - c3 * nz(filt )
Usecase:
First option:
Select the preferred version of DFT and noise reduction settings based on your analysis requirements.
Leverage the script to identify Bullish and Bearish trends, shown with green and red triangle.
Combine Different Timeframes to accurately determine market trend.
Second option:
Pull the data with API sockets to automate your trading journey.
plot(close, title="ClosePrice", display=display.status_line)
plot(open, title="OpenPrice", display=display.status_line)
plot(greencon ? 1 : redcon ? -1 : 0, title="position", display=display.status_line)
Use ClosePrice, OpenPrice and "position" titles to easily read and backtest your strategy utilising more than 1 Time Frame.
Indicator id:
USER;e7a774913c1242c3b1354334a8ea0f3c
(only relevant to those that use API requests)
Trend Deviation strategy - BTC [IkkeOmar]Intro:
This is an example if anyone needs a push to get started with making strategies in pine script. This is an example on BTC, obviously it isn't a good strategy, and I wouldn't share my own good strategies because of alpha decay.
This strategy integrates several technical indicators to determine market trends and potential trade setups. These indicators include:
Directional Movement Index (DMI)
Bollinger Bands (BB)
Schaff Trend Cycle (STC)
Moving Average Convergence Divergence (MACD)
Momentum Indicator
Aroon Indicator
Supertrend Indicator
Relative Strength Index (RSI)
Exponential Moving Average (EMA)
Volume Weighted Average Price (VWAP)
It's crucial for you guys to understand the strengths and weaknesses of each indicator and identify synergies between them to improve the strategy's effectiveness.
Indicator Settings:
DMI (Directional Movement Index):
Length: This parameter determines the number of bars used in calculating the DMI. A higher length may provide smoother results but might lag behind the actual price action.
Bollinger Bands:
Length: This parameter specifies the number of bars used to calculate the moving average for the Bollinger Bands. A longer length results in a smoother average but might lag behind the price action.
Multiplier: The multiplier determines the width of the Bollinger Bands. It scales the standard deviation of the price data. A higher multiplier leads to wider bands, indicating increased volatility, while a lower multiplier results in narrower bands, suggesting decreased volatility.
Schaff Trend Cycle (STC):
Length: This parameter defines the length of the STC calculation. A longer length may result in smoother but slower-moving signals.
Fast Length: Specifies the length of the fast moving average component in the STC calculation.
Slow Length: Specifies the length of the slow moving average component in the STC calculation.
MACD (Moving Average Convergence Divergence):
Fast Length: Determines the number of bars used to calculate the fast EMA (Exponential Moving Average) in the MACD.
Slow Length: Specifies the number of bars used to calculate the slow EMA in the MACD.
Signal Length: Defines the number of bars used to calculate the signal line, which is typically an EMA of the MACD line.
Momentum Indicator:
Length: This parameter sets the number of bars over which momentum is calculated. A longer length may provide smoother momentum readings but might lag behind significant price changes.
Aroon Indicator:
Length: Specifies the number of bars over which the Aroon indicator calculates its values. A longer length may result in smoother Aroon readings but might lag behind significant market movements.
Supertrend Indicator:
Trendline Length: Determines the length of the period used in the Supertrend calculation. A longer length results in a smoother trendline but might lag behind recent price changes.
Trendline Factor: Specifies the multiplier used in calculating the trendline. It affects the sensitivity of the indicator to price changes.
RSI (Relative Strength Index):
Length: This parameter sets the number of bars over which RSI calculates its values. A longer length may result in smoother RSI readings but might lag behind significant price changes.
EMA (Exponential Moving Average):
Fast EMA: Specifies the number of bars used to calculate the fast EMA. A shorter period results in a more responsive EMA to recent price changes.
Slow EMA: Determines the number of bars used to calculate the slow EMA. A longer period results in a smoother EMA but might lag behind recent price changes.
VWAP (Volume Weighted Average Price):
Default settings are typically used for VWAP calculations, which consider the volume traded at each price level over a specific period. This indicator provides insights into the average price weighted by trading volume.
backtest range and rules:
You can specify the start date for backtesting purposes.
You can can select the desired trade direction: Long, Short, or Both.
Entry and Exit Conditions:
LONG:
DMI Cross Up: The Directional Movement Index (DMI) indicates a bullish trend when the positive directional movement (+DI) crosses above the negative directional movement (-DI).
Bollinger Bands (BB): The price is below the upper Bollinger Band, indicating a potential reversal from the upper band.
Momentum Indicator: Momentum is positive, suggesting increasing buying pressure.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, indicating bullish momentum.
Supertrend Indicator: The Supertrend indicator signals an uptrend.
Schaff Trend Cycle (STC): The STC indicates a bullish trend.
Aroon Indicator: The Aroon indicator signals a bullish trend or crossover.
When all these conditions are met simultaneously, the strategy considers it a favorable opportunity to enter a long trade.
SHORT:
DMI Cross Down: The Directional Movement Index (DMI) indicates a bearish trend when the negative directional movement (-DI) crosses above the positive directional movement (+DI).
Bollinger Bands (BB): The price is above the lower Bollinger Band, suggesting a potential reversal from the lower band.
Momentum Indicator: Momentum is negative, indicating increasing selling pressure.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, signaling bearish momentum.
Supertrend Indicator: The Supertrend indicator signals a downtrend.
Schaff Trend Cycle (STC): The STC indicates a bearish trend.
Aroon Indicator: The Aroon indicator signals a bearish trend or crossover.
When all these conditions align, the strategy considers it an opportune moment to enter a short trade.
Disclaimer:
THIS ISN'T AN OPTIMAL STRATEGY AT ALL! It was just an old project from when I started learning pine script!
The backtest doesn't promise the same results in the future, always do both in-sample and out-of-sample testing when backtesting a strategy. And make sure you forward test it as well before implementing it!
Furthermore this strategy uses both trend and mean-reversion systems, that is usually a no-go if you want to build robust trend systems .
Don't hesitate to comment if you have any questions or if you have some good notes for a beginner.
Dynamic Gradient Filter
Sigmoid Functions:
History and Mathematical Basis:
Sigmoid functions have a rich history in mathematics and are widely used in various fields, including statistics, machine learning, and signal processing.
The term "sigmoid" originates from the Greek words "sigma" (meaning "S-shaped") and "eidos" (meaning "form" or "type").
The sigmoid curve is characterized by its smooth S-shaped appearance, which allows it to map any real-valued input to a bounded output range, typically between 0 and 1.
The most common form of the sigmoid function is the logistic function:
Logistic Function (σ):
Defined as σ(x) = 1 / (1 + e^(-x)), where:
'x' is the input value,
'e' is Euler's number (approximately 2.71828).
This function was first introduced by Belgian mathematician Pierre François Verhulst in the 1830s to model population growth with limiting factors.
It gained popularity in the early 20th century when statisticians like Ronald Fisher began using it in regression analysis.
Specific Sigmoid Functions Used in the Indicator:
sig(val):
The 'sig' function in this indicator is a modified version of the logistic function, clamping a value between 0 and 1 on the sigmoid curve.
siga(val):
The 'siga' function adjusts values between -1 and 1 on the sigmoid curve, offering a centered variation of the sigmoid effect.
sigmoid(val):
The 'sigmoid' function provides a standard implementation of the logistic function, calculating the sigmoid value of the input data.
Adaptive Smoothing Factor:
The ' adaptiveSmoothingFactor(gradient, k)' function computes a dynamic smoothing factor for the filter based on the gradient of the price data and the user-defined sensitivity parameter 'k' .
Gradient:
The gradient represents the rate of change in price, calculated as the absolute difference between the current and previous close prices.
Sensitivity (k):
The 'k' parameter adjusts how quickly the filter reacts to changes in the gradient. Higher values of 'k' lead to a more responsive filter, while lower values result in smoother outputs.
Usage in the Indicator:
The "close" value refers to the closing price of each period in the chart's time frame
The indicator calculates the gradient by measuring the absolute difference between the current "close" price and the previous "close" price.
This gradient represents the strength or magnitude of the price movement within the chosen time frame.
The "close" value plays a pivotal role in determining the dynamic behavior of the "Dynamic Gradient Filter," as it directly influences the smoothing factor.
What Makes This Special:
The "Dynamic Gradient Filter" indicator stands out due to its adaptive nature and responsiveness to changing market conditions.
Dynamic Smoothing Factor:
The indicator's dynamic smoothing factor adjusts in real-time based on the rate of change in price (gradient) and the user-defined sensitivity '(k)' parameter.
This adaptability allows the filter to respond promptly to both minor fluctuations and significant price movements.
Smoothed Price Action:
The final output of the filter is a smoothed representation of the price action, aiding traders in identifying trends and potential reversals.
Customizable Sensitivity:
Traders can adjust the 'Sensitivity' parameter '(k)' to suit their preferred trading style, making the indicator versatile for various strategies.
Visual Clarity:
The plotted "Dynamic Gradient Filter" line on the chart provides a clear visual guide, enhancing the understanding of market dynamics.
Usage:
Traders and analysts can utilize the "Dynamic Gradient Filter" to:
Identify trends and reversals in price movements.
Filter out noise and highlight significant price changes.
Fine-tune trading strategies by adjusting the sensitivity parameter.
Enhance visual analysis with a dynamically adjusting filter line on the chart.
Literature:
en.wikipedia.org
medium.com
en.wikipedia.org
How to force strategies fire exit alerts not reversalsPineScript has gone a long way, from very simple and little-capable scripting language to a robust coding platform with reliable execution endpoints. However, this one small intuitivity glitch is still there and is likely to stay, because it is traditionally justified and quite intuitive for significant group of traders. I'm sharing this workaround in response to frequent inquiries about it.
What's the glitch? When setting alerts on strategies to be synchronized with TradingView's Strategy Tester events, using simple alert messages such as "buy" or "sell" based on entry direction seems straightforward by inserting {{strategy.order.action}} into the Create Alert's "Message" field. Because "buy" or "sell" are exactly the strings produced by {{strategy.order.action}} placeholder. However, complications arise when attempting to EXIT positions without reversing, whether triggered by price levels like Stop Loss or Take Profit, or logical conditions to close trades. Those bricks fall apart, because on such events {{strategy.order.action}} sends the same "sell" for exiting buy positions and "buy" for exiting sell positions, instead of something more differentiating like "closebuy" or "closesell". As a result reversal trades are opened, instead of simply closing the open ones.
This convention harkens back to traditional stock market practices, where traders either bought shares to enter positions or sold them to exit. However, modern trading encompasses diverse instruments like CFDs, indices, and Forex, alongside advanced features such as Stop Loss, reshaping the landscape. Despite these advancements, the traditional nomenclature persists.
And is poised to stay on TradingView as well, so we need a workaround to get a simple strategy going. Luckily it is here and is called alert_message . It is a parameter, which needs to be added into each strategy.entry() / strategy.exit() / strategy.close() function call - each call, which causes Strategy Tester to produce entry or exit orders. As in this example script:
line 12: strategy.entry(... alert_message ="buy")
line 14: strategy.entry(... alert_message ="sell")
line 19: strategy.exit(... alert_message ="closebuy")
line 20: strategy.exit(... alert_message ="closesell")
line 24: strategy.close(... alert_message ="closebuy")
line 26: strategy.close(... alert_message ="closesell")
These alert messages are compatible with the Alerts Syntax of TradingConnector - a tool facilitating auto-execution of TradingView alerts in MetaTrader 4 or 5. Yes, simple alert messages like "buy" / "sell" / "closebuy" / "closesell" suffice to carry the execution of simple strategy, without complex JSON files with multiple ids and such. Other parameters can be added (actually plenty), but they are only option and that's not a part of this story :)
Last thing left to do is to replace "Message" in Create Alert popup with {{strategy.order.alert_message}} . This placeholder transmits the string defined in the PineScript alert_message= parameter, as outlined in this publication. With this workaround, executing closing alerts becomes seamless within PineScript strategies on TradingView.
Disclaimer: this content is purely educational, especially please don't pay attention to backtest results on any timeframe/ticker.
NUPL - Net Unrealized Profit-Loss BTC Tops/Bottoms [Logue]Net Unrealized Profit Loss (NUPL) - The NUPL measures the profit state of the bitcoin network to determine if past transfers of BTC are currently in an unrealized profit or loss state.
Values above zero indicate that the network is in overall profit, while values below zero indicate the network is in overall loss. Highly positive NUPL values indicate overvaluation of the BTC network and relatively negative NUPL values indicate an undervaluation of the BTC network.
For tops: The default setting for tops is based on decreasing "strength" of BTC tops. A decreasing linear function (trigger = slope * time + intercept) was fit to past cycle tops for this indicator and is used as the default to signal macro tops. The user can change the slope and intercept of the line by changing the slope and/or intercept factor. The user also has the option to indicate tops based on a horizontal line via a settings selection. This horizontal line default value is 73. This indicator is triggered for a top when the NUPL is above the trigger value.
For bottoms: Bottoms are displayed based on a horizontal line with a default setting of -13. The indicator is triggered for a bottom when the NUPL is below the bottom trigger value.
LMACD - Logarithmic MACD Weekly BTC Index [Logue]Logarithmic Moving Average Convergence Divergence (LMACD) Weekly Indicator - The LMACD is a momentum indicator that measures the strength of a trend using 12-period and 26-period moving averages. The weekly LMACD for this indicator is calculated by determining the difference between the log (base 10) of the 12-week and 26-week exponential moving averages. Larger positive numbers indicate a larger positive momentum.
For tops: The default setting for tops is based on decreasing "strength" of BTC tops. A decreasing linear function (trigger = slope * time + intercept) was fit to past cycle tops for this indicator and is used as the default to signal macro tops. The user can change the slope and intercept of the line by changing the slope and/or intercept factor. The user also has the option to indicate tops based on a horizontal line via a settings selection. This line default value is 0.125. This indicator is triggered for a top when the LMACD is above the trigger value.
For bottoms: Bottoms are displayed based on a horizontal line with a default setting of -0.07. The indicator is triggered for a bottom when the LMACD is below the bottom trigger value.
Stochastic / Connectable [Azullian]Advance your market analysis with the Stochastic Oscillator. Identify potential price reversals with precision, aiding in the creation of flexible and accurate strategies.
This connectable Stochastic indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score.
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
█ STOCHASTIC - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the Stochastic calculation.
• T - Timeframe: Select an alternative timeframe for the Stochastic calculation.
• KL - %K Length: Define the number of bars or periods used in the calculation of the %K value.
• OB - Overbought Level: Determine the Stochastic value at which overbought conditions are met.
• OS - Oversold Level: Specify the Stochastic value at which oversold conditions are met.
• %K - %K Smoothing: DDefine the number of bars or periods used to smooth the %K value.
• %D - %D Smoothing: Define the number of bars or periods used to calculate and smooth the %D
■ Scoring functionality
• The Stochastic scores long entries when the %K line crosses above the %D line within the OS (oversold) area.
• The Stochastic scores long exits when the %K line crosses below the %D line after being in the OS (oversold) area.
• The Stochastic scores long zones for the duration the %K is above the %D line within the OS (oversold) area.
• The Stochastic scores short entries when the %K line crosses below the %D line within the OB (overbought) area.
• The Stochastic scores short exits when the %K line crosses above the %D line after being in the OB (overbought) area.
• The Stochastic scores short zones for the duration the %K is below the %D line within the OB (overbought) area.
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", a Stochastic signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, signal monitor, or strategy .
Let's connect the Stochastic to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load Stochastic / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the Stochastic to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : Stochastic / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
RSI / Connectable [Azullian]Enhance your trading approach with the modular RSI indicator, skilled in identifying market extremes. Simplify pattern visualization and signal weighting for more efficient strategy formulation.
This connectable RSI indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score.
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
■ Entries, exits and zone illustrated on a standard RSI indicator when the RSI is overbought.
█ RSI - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the RSI calculation.
• T - Timeframe: Select an alternative timeframe for the RSI calculation.
• LE - Length: Define the number of bars or periods used in the RSI calculation.
• OB - Overbought Level: Determine the RSI value at which overbought conditions are met.
• OS - Oversold Level: Specify the RSI value at which oversold conditions are met.
■ Scoring functionality
• The RSI scores long entries when the RSI enters OS: oversold area
• The RSI scores long exits when the RSI exits OS: oversold area
• The RSI scores long zones the entire time the RSI is in OS: oversold area
• The RSI scores short entries when the RSI enters OB: overbought area
• The RSI scores short exits when the RSI exits OB: overbought area
• The RSI scores short zones the entire time the RSI is in OB: overbought area
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", an RSI signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter, or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, signal monitor, or strategy .
Let's connect the RSI to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load RSI / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the RSI to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : RSI / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Advanced Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
ADX / Connectable [Azullian]
Streamline your strategy with the ADX indicator. Precisely analyze market strength and direction, integrating these insights for more adaptable trading decisions.
This connectable ADX indicator is part of an indicator system designed to help test, visualize and build strategy configurations without coding. Like all connectable indicators , it interacts through the TradingView input source, which serves as a signal connector to link indicators to each other. All connectable indicators send signal weight to the next node in the system until it reaches either a connectable signal monitor, signal filter and/or strategy.
█ UNIFORM SETTINGS AND A WAY OF WORK
Although connectable indicators may have specific weight scoring conditions, they all aim to follow a standardized general approach to weight scoring settings, as outlined below.
■ Connectable indicators - Settings
• 🗲 Energy: Energy applies an ATR multiplier to the plotted shapes on the chart. A higher value plots shapes farther away from the candle, enhancing visibility.
• ☼ Brightness: Brightness determines the opacity of the shape plotted on the chart, aiding visibility. Indicator weight also influences opacity.
• → Input: Use the input setting to specify a data source for the indicator. Here you can connect the indicator to other indicators.
• ⌥ Flow: Determine where you want to receive signals from:
○ Both: Weights from this indicator and the connected indicator will apply
○ Indicator only: Only weights from this indicator will apply
○ Input only: Only weights from the connected indicator will apply
• ⥅ Weight multiplier: Multiply all weights in the entire indicator by a given factor, useful for quickly testing different indicators in a granular setup.
• ⥇ Threshold: Set a threshold to indicate the minimum amount of weight it should receive to pass it through to the next indicator.
• ⥱ Limiter: Set a hard limit to the maximum amount of weight that can be fed through the indicator.
■ Connectable indicators - Weight scoring settings
▢ Weight scoring conditions
• SM – Signal mode: Enable specific conditions for weight scoring
○ All: All signals will be scored.
○ Entries only: Only entries will score
○ Exits only: Only exits will score.
○ Entries & exits: Both entries and exits will score.
○ Zone: Continuous scoring for each candle within the zone.
• SP – Signal period: Defines a range of candles within which a signal can score.
• SC - Signal count: Specifies the number of bars to retrospectively examine and score.
○ Single: Score for a single occurrence
○ All occurrences: Score for all occurrences
○ Single + Threshold: Score for single occurrences within the signal period (SP)
○ Every + Threshold: Score for all occurrences within the signal period (SP)
▢ Weight scoring direction
• ES: Enter Short weight
• XL: Exit long weight
• EL: Enter Long weight
• XS: Exit Short weight
▢ Weight scoring values
• Weights can hold either positive or negative scores. Positive weights enhance a particular trading direction, while negative weights diminish it.
█ ADX - INDICATOR SETTINGS
■ Main settings
• Enable/Disable Indicator: Toggle the entire indicator on or off.
• S - Source: Choose an alternative data source for the ADX calculation.
• T - Timeframe: Select an alternative timeframe for the ADX calculation.
• SM - Smoothing: Smooth the length averages.
• LE - DI Length: Determine the DI: Directional indicator length.
• TH - Trend threshold: Specify the level the ADX has to cross
• EM - Entry signal mode: Determine entry mode
○ DI: Use only DI+ and DI- crossings
○ DI + ADX: Use DI with increasing ADX
○ DI + ADX + Invert: Use DI with increasing ADX and DI with decreasing ADX
• XM - Exit signal mode: Determine exit mode
○ DI: Use DI crossing to exit
○ ADX: Use decreasing ADX to signal exit
■ Scoring functionality
• The ADX scores long entries when the ADX crosses the TH: Trend threshold and +DM is greater than -DM
• The ADX scores long exits when the ADX falls back below the TH: Trend threshold and +DM is greater than -DM
• The ADX scores long zones the entire time the ADX is above the TH: Trend threshold and +DM is greater than -DM
• The ADX scores short entries when the ADX crosses the TH: Trend threshold and +DM is smaller than -DM
• The ADX scores short exits when the ADX falls back below the TH: Trend threshold and +DM is smaller than -DM
• The ADX scores short zones the entire time the ADX is above the TH: Trend threshold and +DM is smaller than -DM
█ PLOTTING
• Standard: Symbols (EL, XS, ES, XL) appear relative to candles based on set conditions. Their opacity and position vary with weight.
• Conditional Settings: A larger icon appears if global conditions are met. For instance, with a Threshold(⥇) of 12, Signal Period (SP) of 3, and Scoring Condition (SC) set to "EVERY", an ADX signaling over two times in 3 candles (scoring 6 each) triggers a larger icon.
█ USAGE OF CONNECTABLE INDICATORS
■ Connectable chaining mechanism
Connectable indicators can be connected directly to the signal monitor, signal filter or strategy , or they can be daisy chained to each other while the last indicator in the chain connects to the signal monitor, signal filter or strategy. When using a signal filter you can chain the filter to the strategy input to make your chain complete.
• Direct chaining: Connect an indicator directly to the signal monitor, signal filter or strategy through the provided inputs (→).
• Daisy chaining: Connect indicators using the indicator input (→). The first in a daisy chain should have a flow (⌥) set to 'Indicator only'. Subsequent indicators use 'Both' to pass the previous weight. The final indicator connects to the signal monitor, signal filter and/or strategy.
■ Set up this indicator with a signal filter and strategy
The indicator provides visual cues based on signal conditions. However, its weight system is best utilized when paired with a connectable signal filter, signal monitor, and/or strategy .
Let's connect the ADX to a connectable signal filter and a strategy :
1. Load all relevant indicators
• Load ADX / Connectable
• Load Signal filter / Connectable
• Load Strategy / Connectable
2. Signal Filter: Connect the ADX to the Signal Filter
• Open the signal filter settings
• Choose one of the three input dropdowns (1→, 2→, 3→) and choose : ADX / Connectable: Signal Connector
• Toggle the enable box before the connected input to enable the incoming signal
3. Signal Filter: Update the filter signals settings if needed
• The default settings of the filter enable EL (Enter Long), XL (Exit Long), ES (Enter Short) and XS (Exit Short).
4. Signal Filter: Update the weight threshold settings if needed
• All connectable indicators load by default with a score of 6 for each direction (EL, XL, ES, XS)
• By default, weight threshold (TH) is set at 5. This allows each occurrence to score, as the default score in each connectable indicator is 1 point above the threshold. Adjust to your liking.
5. Strategy: Connect the strategy to the signal filter in the strategy settings
• Select a strategy input → and select the Signal filter: Signal connector
6. Strategy: Enable filter compatible directions
• Set the signal mode of the strategy to a compatible direction with the signal filter.
Now that everything is connected, you'll notice green spikes in the signal filter representing long signals, and red spikes indicating short signals. Trades will also appear on the chart, complemented by a performance overview. Your journey is just beginning: delve into different scoring mechanisms, merge diverse connectable indicators, and craft unique chains. Instantly test your results and discover the potential of your configurations. Dive deep and enjoy the process!
█ BENEFITS
• Adaptable Modular Design: Arrange indicators in diverse structures via direct or daisy chaining, allowing tailored configurations to align with your analysis approach.
• Streamlined Backtesting: Simplify the iterative process of testing and adjusting combinations, facilitating a smoother exploration of potential setups.
• Intuitive Interface: Navigate TradingView with added ease. Integrate desired indicators, adjust settings, and establish alerts without delving into complex code.
• Signal Weight Precision: Leverage granular weight allocation among signals, offering a deeper layer of customization in strategy formulation.
• Signal Filtering: Define entry and exit conditions with more clarity, granting an added layer of strategy precision.
• Clear Visual Feedback: Distinct visual signals and cues enhance the readability of charts, promoting informed decision-making.
• Standardized Defaults: Indicators are equipped with universally recognized preset settings, ensuring consistency in initial setups across different types like momentum or volatility.
• Reliability: Our indicators are meticulously developed to prevent repainting. We strictly adhere to TradingView's coding conventions, ensuring our code is both performant and clean.
█ COMPATIBLE INDICATORS
Each indicator that incorporates our open-source 'azLibConnector' library and adheres to our conventions can be effortlessly integrated and used as detailed above.
For clarity and recognition within the TradingView platform, we append the suffix ' / Connectable' to every compatible indicator.
█ COMMON MISTAKES, CLARIFICATIONS AND TIPS
• Removing an indicator from a chain: Deleting a linked indicator and confirming the "remove study tree" alert will also remove all underlying indicators in the object tree. Before removing one, disconnect the adjacent indicators and move it to the object stack's bottom.
• Point systems: The azLibConnector provides 500 points for each direction (EL: Enter long, XL: Exit long, ES: Enter short, XS: Exit short) Remember this cap when devising a point structure.
• Flow misconfiguration: In daisy chains the first indicator should always have a flow (⌥) setting of 'indicator only' while other indicator should have a flow (⌥) setting of 'both'.
• Hide attributes: As connectable indicators send through quite some information you'll notice all the arguments are taking up some screenwidth and cause some visual clutter. You can disable arguments in Chart Settings / Status line.
• Layout and abbreviations: To maintain a consistent structure, we use abbreviations for each input. While this may initially seem complex, you'll quickly become familiar with them. Each abbreviation is also explained in the inline tooltips.
• Inputs: Connecting a connectable indicator directly to the strategy delivers the raw signal without a weight threshold, meaning every signal will trigger a trade.
█ A NOTE OF GRATITUDE
Through years of exploring TradingView and Pine Script, we've drawn immense inspiration from the community's knowledge and innovation. Thank you for being a constant source of motivation and insight.
█ RISK DISCLAIMER
Azullian's content, tools, scripts, articles, and educational offerings are presented purely for educational and informational uses. Please be aware that past performance should not be considered a predictor of future results.
% Change CandleThis script creates a trading indicator that shows how much the price of a financial instrument (like a stock or currency) changes within each trading period, represented by candles on a chart. Each candle shows the range of prices from the highest to the lowest within a specific time frame.
The indicator calculates the percentage difference between the highest and lowest prices for each candle. If the closing price of the candle is higher than the opening price, suggesting that the price has gone up during that period, the indicator will display this percentage increase as a green line. Conversely, if the closing price is lower than the opening price, indicating a price decrease, it will display the percentage decrease as a red line.
In simple terms, this indicator provides a visual way to see how much and in which direction the price is moving during each trading period, with green lines showing periods of price increase and red lines showing periods of price decrease.
PUELL - PUELL Top and Bottom Indicator for BTC [Logue]Puell Multiple Indicator (PUELL) - The Puell multiple is the ratio between the daily coin issuance in USD and its 365-day moving average. This multiple helps to measure miner profitability. The PUELL indicator smooths the Puell multiple using a 14-day simple moving average. When the PUELL goes to high values relative to historical values, it indicates the profitability of the miners is high and a top may be near. When the PUELL is low relative to historical values, it indicates the profitability of the minors is low and a bottom may be near. The default trigger values are PUELL values above 3.0 for a "top" and below 0.5 for a "bottom".
PDM - Plus Directional Movement Weekly BTC Index [Logue]Plus Directional Movement (PDM) weekly BTC index - The PDM is a momentum indicator that measures the strength of a trend in the positive direction. The weekly PDM is calculated by determining the difference between the week's high price and the previous week's high price smoothed by a 14-period moving average. Higher PDM values indicate higher momentum in the positive (higher price) direction. The default triggers for this indicator are PDM values above 55 for tops and below 14 for bottoms.
WaveTrendnel Oscillator [UAlgo]🔶Description:
The WaveTrendnel Oscillator, is a technical analysis tool designed for traders to identify potential trend reversals and overbought/oversold conditions in the market. It combines the concepts of wave analysis and trend analysis to generate signals based on the current market conditions. This indicator aims to provide traders with insights into the strength and direction of the prevailing trend, facilitating better decision-making in trading strategies.
🔶Key Features:
Customizable Parameters: Users can customize various parameters including the source data, channel length, average length, and signal length according to their trading preferences and market conditions.
Signal Display: The indicator offers the option to display buy and sell signals on the chart, helping traders to visually identify potential entry and exit points.
Wave and Kernel Analysis: The WaveTrendnel Oscillator utilizes a rational quadratic kernel function, which applies a mathematical approach known as the kernel method. This method analyzes historical price data by assigning weights to each data point based on its proximity to the current period, providing a smoother and more accurate representation of market trends.
Overbought/Oversold Levels: Traders can define overbought and oversold levels using customizable threshold parameters, enabling them to identify potential reversal points in the market.
🔶Credit:
The WaveTrendnel Oscillator indicator is a modification of the original WaveTrend Oscillator developed by @LazyBear on TradingView.
🔶Disclaimer:
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
WaveTrend Ribbon [AlgoAlpha]🌟🚀 Introducing the WaveTrend Ribbon by AlgoAlpha - Your Next-Level Trading Companion! 🚀🌟
Dive into the world of advanced trading with the WaveTrend Ribbon by AlgoAlpha, a cutting-edge indicator designed to elevate your trading strategy on TradingView. 📈💡 This powerful tool combines the efficiency of the WaveTrend oscillator with innovative Z-score analysis to offer clear, actionable trading signals. 🌊🎯
Key Features:
🔧 Customizable Parameters: Tailor the indicator to your trading needs with adjustable settings including Channel Length, Average Length, Overbought/Oversold Levels, and more.
📊 WaveTrend Oscillator: Utilizes a smoothed version of the average price to identify potential market reversals.
📉 Z-Score Analysis: Enhances signal reliability by measuring the standard deviation of the current price from the mean.
🎨 Dynamic Color Coding: Visual cues shift between up and down colors to indicate market trends, making it easy to read at a glance.
⚠️ Divergence Detection: Automatic identification of bullish and bearish divergences for early signal warnings.
🔔 Custom Alerts: Stay ahead with real-time alerts for key trading events like bullish/bearish divergences and trend reversals.
How to Use WaveTrend Ribbon :
Maximize your trading potential with the WaveTrend Ribbon by following these simple steps:
🔍 Add to Chart: Locate "WaveTrend Ribbon " in TradingView's Indicators & Strategies and apply it to your chart. Dive into the settings to customize the parameters like Channel Length, Average Length, and the Overbought/Oversold levels to match your trading strategy.
- Channel Length affects the sensitivity of the WaveTrend oscillator to price movements. A shorter Channel Length increases responsiveness, useful in volatile markets but may lead to false signals. It's ideal for traders looking for quick reactions to price changes.
- Average Length is used to smooth the oscillator further, influencing how quickly the indicator responds to trend changes. A shorter Average Length allows for a quicker response to the oscillator's movements, suitable for short-term trading strategies.
📊 Analyze the Market: Pay close attention to the color transitions and position of the Z-score in relation to its moving average for insights into market direction. Look out for the overbought and oversold conditions for potential reversal points.
🔔 Set Up Alerts: Utilize the built-in alert system to get notified of key events like trend reversals, bullish and bearish divergences, and more, so you can make timely decisions without having to constantly monitor the charts.
Basic Logic Explained:
The WaveTrend Ribbon is an advanced trading indicator that leverages the WaveTrend oscillator, enhanced by Z-score normalization and moving averages for precise market trend analysis. It calculates the average price deviation over a set period (Channel Length), smoothing it with an Average Length to identify trends. Z-score analysis further refines signals by comparing oscillator deviations against its historical performance, highlighting overbought or oversold conditions. The indicator generates signals for potential reversals and market entries/exits, visualized through dynamic color coding and customizable alerts for traders to act upon efficiently. This multi-layered approach provides a deeper insight into market dynamics, offering a blend of trend following and momentum strategies.
By highlighting overbought and oversold conditions with dynamic color changes and providing reversal signals, this indicator is a must-have tool for traders aiming to capitalize on market trends. 📈🚀
Elevate your trading experience with the WaveTrend Ribbon, your go-to indicator for navigating the markets with confidence and precision. Happy trading! 🌟🚀
Divergence Signal [TradingFinder] RSI & MACD Reversal On Swing🔵 Introduction
Sometimes in analyzing price charts using indicators, you may observe a discrepancy. For instance, while the price of stocks, currencies, or commodities is increasing, the indicator shows a decrease. Such a phenomenon in technical analysis is termed "divergence." Divergences are categorized into three types based on their formation and the prediction they make about the continuation of the price trend: "Regular Divergence," "Hidden Divergence," and "Time Divergence."
🟣 Important :
• This indicator exclusively identifies regular divergences since its primary function is to detect reversal points.
• This indicator identifies divergences using three indicators: "Moving Average Convergence Divergence" (MACD), "Relative Strength Index" (RSI), and "Awesome Oscillator" (AO). The user can choose each of these indicators in the settings using the "Divergence Detection Method" dropdown menu for identifying divergences. These settings are by default set to the MACD mode.
🔵Types of Divergence
Divergences, as mentioned, offer different predictions about the continuation of price trends. Hence, they have various types. We will focus on explaining regular divergences based on this indicator.
🟣 Regular Divergence(RD) :
Regular divergence is a situation arising from contradictory behavior between the indicator and the price chart at the end of a trend. By identifying regular divergences, we anticipate a change in trend direction resembling a reversal pattern.
Regular divergence has two types based on the trend and prediction:
Negative Regular Divergence (RD-) :
This type occurs between two price peaks at the end of an uptrend. Despite forming a new high, the indicator fails to recognize it, indicating a negative regular divergence. The likelihood of a subsequent downtrend is high. Negative divergence suggests strong selling pressure and weak buying power, portraying an unfavorable future for the stock.
Positive Regular Divergence (RD+) :
In contrast, positive regular divergence happens at the end of a downtrend and between two price troughs. As depicted in the chart, although the price forms a new low, the indicator doesn't acknowledge it. Positive regular divergence indicates robust buying pressure and weak selling power. Upon identifying positive divergence in the chart, we expect a price increase for the stock under review
🔵 How to Use
Information from the indicator is displayed in two ways: Table and Label.
🟣 Table : The table displays information about the latest divergence. This includes the type of divergence, existence or absence of divergence, consecutive divergences, divergence quality, and change in indicator phase.
Type Divergence : Indicates the type of divergence, which can be either "Bullish Divergence" or "Bearish Divergence."
Exist : Indicates the presence of divergence with a "+" sign and absence with a "-" sign. A green color is used for bullish divergence and red for bearish divergence.
Consecutive : Shows the number of consecutive divergences. For example, if there are 3 consecutive divergences, the number 3 is displayed.
Divergence Quality : Displays the quality of the divergence based on the number of consecutive divergences. If there is 1 divergence, the quality is "Normal"; for 2 divergences, it's "Good"; and for 3 or more divergences, it's "Strong."
Change Phase Indicator : Indicates whether a phase change in the indicator has occurred with "+" for yes and "-" for no.
🟣 Label : Unlike the table, which only shows information about the latest divergence, labels display information about each divergence at the point where it occurs. The information includes the type of divergence, detection method, divergence quality, consecutive divergences, and change in phase indicator. The selected method of detection is also displayed. For example, if the chosen method is the "AO" indicator, the label will show "Method: AO."
🔵 Settings
Fractal Period : Determines the period of swings. The minimum and default value is 2.
Divergence Detect Method : Selects the indicator (MACD, RSI, or AO) used for detecting divergences. The default indicator is MACD.
Show Fractal : Chooses whether to display fractals or not. The default is "No."
Show Table : Determines whether to display the table or not. The default is "Yes."
Show Label : Chooses whether to display labels or not. The default is "Yes."
Label Size : Adjusts the size of the labels from "Tiny" to "Large."
Squeeze Momentum DeluxeThe Squeeze Momentum Deluxe is a comprehensive trading toolkit built with features of momentum, volatility, and price action. This script offers a suite for both mean reversion and trend-following analysis. Developed based on the original TTM Squeeze implementation by @LazyBear, this indicator introduces several innovative components to enhance your trading insights.
🔲 Components and Features
Momentum Oscillator - as rooted in the TTM Squeeze, quantifies the relationship between price and its extremes over a defined period. By normalizing the calculation, the values become comparable throughout time and across securities, allowing for a nuanced assessment of Bullish and Bearish momentum. Furthermore, by presenting it as a ribbon with a signal line we gain additional information about the direction of price swings.
Squeeze Bars - The original squeeze concept is based on the relationship between the Bollinger Bands and Keltner Channel , once the BB resides inside the KC a squeeze occurs. By understanding their fundamentals a new form of calculation can be inferred.
method bb(float src, simple int len, simple float mult) => method kc(float src, simple int len, simple float mult) =>
float basis = ta.sma (src, len) float basis = ta.sma (src, len)
float dev = ta.stdev(src, len) float rng = ta.atr ( len)
float upper = basis + dev * mult float upper = basis + rng * mult
float lower = basis - dev * mult float lower = basis - rng * mult
Both BB and KC are constructed upon a moving average with the addition of Standard Deviation and Average True Range respectively. Therefore, the calculation can be transformed to when the Stdev is lower than the ATR a squeeze occurs.
method sqz(float src, simple int len) =>
float dev = ta.stdev(src, len)
float atr = ta.atr ( len)
dev < atr ? true : false
This indicator uses three different thresholds for the ATR to gain three levels of price "Squeeze" for further analysis.
Directional Flux- This component measures the overall direction of price volatility, offering insights into trend sentiment. Presented as waves in the background, it includes an OverFlux feature to signal extreme market bias in a particular direction which can signal either exhaustion or vital continuation. Additionally, the user can choose if to base the calculation on Heikin-Ashi Candles to bias the tool toward trend assessment.
Confluence Gauges - Placed at the top and bottom of the indicator, these gauges measure confluence in the relationship between the Momentum Oscillator and Directional Flux. They provide traders with an easily interpretable visual aid for detecting market sentiment. Reversal doritos displayed alongside them contribute to mean reversion analysis.
Divergences (Real-Time) - Equipped with a custom algorithm, the indicator detects real-time divergences between price and the oscillator. This dynamic feature enhances your ability to spot potential trend reversals as they occur.
🔲 Settings
Directional Flux Length - Adjusts the period of which the background volatility waves operate on.
Trend Bias - Bases the calculation of the Flux to HA candles to bias its behavior toward the trend of price action.
Squeeze Momentum Length - Calibrates the length of the main oscillator ribbon as well as the period for the squeeze algorithm.
Signal - Controls the width of the ribbon. Lower values result in faster responsiveness at the cost of premature positives.
Divergence Sensitivity - Adjusts a threshold to limit the amount of divergences detected based on strength. Higher values result in less detections, stronger structure.
🔲 Alerts
Sell Signal
Buy Signal
Bullish Momentum
Bearish Momentum
Bullish Flux
Bearish Flux
Bullish Swing
Bearish Swing
Strong Bull Gauge
Strong Bear Gauge
Weak Bull Gauge
Weak Bear Gauge
High Squeeze
Normal Squeeze
Low Squeeze
Bullish Divergence
Bearish Divergence
As well as the option to trigger 'any alert' call.
The Squeeze Momentum Deluxe is a comprehensive tool that goes beyond traditional momentum indicators, offering a rich set of features to elevate your trading strategy. I recommend using toolkit alongside other indicators to have a wide variety of confluence to therefore gain higher probabilistic and better informed decisions.
