This study is a proof of concept analysis of situations that can lead to divide with zero or divide by zero conditions. Such situations can lead to mathematical errors, and can increase the potential for false alerts. One common formula that is prone to this situation is: pct=(high-close)/(high-low) This is used to calculate percentage change of a...
This script detects an event created by Oliver Velez, it is a wide-range candle with a small body and a long tail (hammer-type candle), its range is noticeably larger than previous candles, as a rule it can be taken that the body should be maximum of 30% of the total range of the candle with a long tail. The stop goes under the tail and the signal is given when...
Adaptive RSI RSI with a twist. The values are calculated differently depending upon whether the RSI is above or below the centre point. I have found this gives: More pronounced divergences which are easier to spot and more accurate at predicting local top and bottoms More accurate indications of overbought/oversold conditions.
//This indicator shows Day's candle measurements with past averages. First column shows the candle details for the present day. //"Open - Low", "High - Open", "Range(=High-low)", "Body(open-close)" //Averages are calculated for occurences of Green and Red days. Up Averages are for Green days and Down Averages are for Red days. //Average are not perfect...
This script "slices up' the price action in hourly, daily, weekly,... slices to give a view of the sentiment and price action or volume during the selected period. Different time periods can be selected. There is a choice to display the information in: - normal candlesticks - heikin ashi candles - volume candles JD. #NotTradingAdvice #DYOR Disclaimer. I AM...
- Climate volume detection - Relative volume value in bar - Automatic zone generation (possibility of configuration) - Additional features ¡¡¡Thumbs up¡¡¡
On this occasion I present a script that detects Ignored Red Candles and Ignored Green Candles, basically it is a Price Action event that indicates a possible continuation of the current trend and gives the opportunity to climb it with a Very tight risk, before delving into detail I would like to leave this note: Note: the detection of this event does not...
This script detects an event created by Oliver Velez, basically it is a wide-range candle, its range is noticeably larger than the previous candles, this event indicates a possible continuation of the movement, or the beginning of an extended movement. The candle has to be of good body, as a rule it can be taken that the body must be more than 70%. The stop goes...
This script detects an event created by Oliver Velez is called Bull / Bear 180, in the following images the event is detailed: - The size of the control bar can be set compared to a number of previous bars - The minimum % of the control bar body can be set - You can filter by trend - Possibility of seeing fast and slow media with direction detection and...
This script graphics the "fantastic 4" area, was created by oliver velez and is used in the opening of the american stock market, determined by: 1- ma200 at the closure of the previous day 2- ma20 at the closure of the previous day 3- price of previous day closure 4- activity of the last 30/60 min prior to the closure of the previous day (search the maximum...
I have developed this indicator to compare the current price with the any given periods opening price and to spot if the market is bullish or bearish. You can compare the current price with the past periods using "Shift" feature. Disclaimer: This is not financial advice Trade safe, Atilla
This indicator will mark 5 different candlestick patterns: (1) bullish & bearish engulfing (2) hammer & shooting star doji (3) dragonfly & gravestone doji (4) morning & evening star doji (5) bottom & top tweezer You may follow candlestick trading strategy by Rayner Teo here
As all seasoned traders know, there's no better trading tactics than Price Action. Price Action understood not as some fancy candlestick formations, but as horizontal lines called Support and Resistance, generated by the market in the past - where the price reacted and reversed, showing which levels were strongly defended by traders around the world. Price very...
This is an experimental study inspired by J. Peter Steidlmayer's Market Profile tool with an alternative set of calculations for analyzing price action and distribution over a defined interval. This tool is geared toward finding price reactive points for better entry and exit positions. In this script, price range over a user defined interval (up to 4000 bars) is...
This EMA will change colour when the price crosses above and below. When the Price is above, the EMA will be GREEN to indicate you should look for BUY entries. When the Price is below, the EMA will be RED to indicate you should look for SELL entries. The default is set to 50 EMA, this can be changed in the settings to suit your requirements. Thanks to Edward...