Further attempts to study divergence impact on price in shorter terms. Previous study can be found here: In this script, we are trying to gather the stats based on last two pivot state together. For example, Individual table of Pivot High Projection is as explained below: But, by looking at the bigger picture, we can further estimate following things...
Publishing free to use scripts always brought me more value - be it in terms of more followers, or helped me to engage with people having right ideas. This has helped me immensely over past few years of my presence in tradingview. To all the coders out there who is starting to work on pinescript - my suggestion is to publish as many open source/free to use...
Using moving average crossover for identifying the change in trend is very common. However, this method can give lots of false signals during the ranging markets. In this algorithm, we try to find the extreme trend by looking at fully aligned multi-level moving averages and only look at moving average crossover when market is in the extreme trend - either bullish...
Micro zigzag is created based on similar concepts as that of zigzag but by using lower timeframe intra-bar data. The lines join candle's high/low points but also depict how the price movement within the candle happened. That is, if the high of the candle is reached first, pivot from previous candle join the high first and then low and vice versa. The output can...
Further development on the sub-candle concept defined in the earlier script. SubCandle This time instead of concentrating only on the last part, we are dividing the main candle into three parts. First Sub-Candle - Covers the candle movement from open to first of highest/lowest point. First sub-candle tells how fast/slow the initial movement took place and...
I created this script as POC to handle specific cases where not having tick data on historical bars create repainting. Happy to share if this serves purpose for other coders. What is the function of this script? Script plots a sub-candle which is remainder of candle after forming the latest peak. Higher body of Sub-candle refers to strong retracement of...
This is a very simple script which can be used as measure to define your trading zones based on volatility. Concept This script tries to identify the area of low and high volatility based on comparison between Bandwidth of higher length and ATR of lower length. Relative Bandwidth = Bandwidth / ATR Bandwidth can be based on either Bollinger Band, Keltner...
DO NOT USE THIS FOR TRADING. I am just showing off my new found recipe for pattern recognition ;) This script generates recursive zigzags till there are only 2 pivots. So, the logic goes like this. Level1 - Standard zigzag calculated from user input of length and max pivots using OHLC values Level2 - Multi level zigzag calculated on the basis of level1...
Here is my first attempt on defining volume profile. In this script, I am using new feature of pine security_lower_tf Upon loading the script, it will ask users to select Time range to show the volume profile. Once you select the time range, confirmation input will popup. Upon confirming the inputs, you will be able to view the volume profile Settings are...
Before getting into the script, I would like to explain bit of history around this project. Wolfe was in the back of my mind for some time and I had several attempts so far. 🎯Initial Attempt When I first developed harmonic patterns, I got many requests from users to develop script to automatically detect Wolfe formation. I thought it would be easy and started...
IMPORTANT NOTE: (Read this before looking at any other thing on this indicator) This indicator is created to supersede existing Auto-Harmonic-Pattern-Ultimate-Trendoscope invite only script. The script deviates a lot from the original Auto Harmonic Patterns Ultimate script in terms of number of available patterns, trading type and few other things. Hence,...
Here is an attempt to gather and present stats and probabilities of different chart patterns. Here, we challenge few traditional biases such as rising wedge is bearish, falling wedge is bullish etc. All the chart patterns identified in this script are bi-directional. Meaning they offer opportunities to trade in either direction. This indicator is built on the...
Nothing fancy. Just converted the new matrix library of zigzags ( mZigzag ) into indicator as I sensed it can be useful as indicator. On top of the standard zigzag, the indicator also tracks given oscillators, moving average and volume indicators on each pivots. More indicators can be added programmatically - but it will take up space in chart. Hence, so far I...
After getting good response on Wedge-and-Flag-Finder-Multi-zigzag , I thought I will build little bit further into the script. Main differences Uses deep search algorithm for patterns instead of just using last 5 pivots Flag pattern is removed so that we can concentrate mainly on trend line pairs More number of overall patterns. Trend Patterns...
Here is a small attempt to automatically identify wedges and flags. Tradingview standard wedge checks for only 4 pivots. In this version, I have considered 5 pivots instead - which can help reduce noise as 4 pivots forming wedge can be quite common. In future, will also try to add more pivots in pattern recognition to make the signal more accurate. If wedge...
I got this idea from @fikira's script Intrabar-Price-Volume-Change-experimental The indicator calculates OBV and PVT based on ticks. Since, the indicator relies on live ticks, it only starts execution after it is put on the charts. The script can be useful in analysing intraday buy and sell pressure. Details are color coded based on the values. Data is...
A friendly reminder to myself and rest of the traders that market can stay low for prolonged time!! Details are pretty simple. Here is small comparison of the stats for major US indices. Can also be applied to stocks. Cells are highlighted in red background ii Drawdown/Recovery is still in progress for historical stats Current drawdown...
⬜ The script is intended to cover few things. ▶ Strategy testing framework based on eStrategy library ▶ Using historicalrange of values for identifying better entry and exits. This is also built on top of the Systematic Investment Plan script published here ⬜ Strategy testing framework Strategy testing framework is different from tradingview...