RSI-Last-3-ExtremaThis script indicates when the current Relative Strength Index of the last 8 closes is beyond a level from center oscillation which signals the equity is likely to reverse course. When it is the lowest RSI reading of the prior 3 readings and below 25, a green vertical bar will appear signaling a potential BUY point. Likewise, the highest reading of the prior 3 RSI readings and above 75 will signal a vertical red bar or SELL signal. The bar has to have a final close price for the signal to be active. Reversal could take a few more bars to occur depending on the timeframe and equity symbol.
You will be able to find many charts that have this signal perfectly finding the top or bottom of a significant trend.
It successfully indicates profitable reversal around 80% of the time. So far, It is 85% accurate or better in determining downtrend start points on the Daily, 120, 60, 30 Minute charts according to the study of more than 10,000 occurrences. It is 86% accurate on the 30 Minute chart.
This is another tool I use in finding or confirming potential price action. Hope you find it useful.
To add this, favorite the script by clicking "Add to your Favorite Indicators" at the top of the code portion below. On your top tool bar is an "fx" button with a downward arrow to the right of it. Click on the downward arrow/caret and scroll down to "RSI-Last-3-Extrema". Click on this title and it should add to the bottom of your current chart. If you do not see BUY (green vertical bars) or SELL (red vertical bars) right away, try other charts and timeframes.
Trendreversal
[astropark] Trend Skywalker V1 [alarms]Dear Followers,
today another awesome Swing and Scalping Trading Strategy indicator: Trend Skywalker !
It shows a trend cloud that reacts very fast to price action, so it's perfect for trending markets: it helps a lot to find out
when a trend is going to end and a new is going to start
when to enter again within a trending market
where to put your stoploss
In this example below you can see the three points above:
In fact in a trending market it will highlight that:
price consolidation within the could is a trend weakening signal , so you can easily spot when a trend is going to end and a new is going to start
bullish/bearish trend cloud retests are nice opportunity to re-enter within a trending market, especially if cloud is thick
where to put your stoploss ( below the cloud and/or recent low in a buy scenario , above the cloud and/or recent high in a sell scenario )
This strategy/indicator has the following options:
change analysis window (the lower, the more reactive; the higher, the less reactive)
enable/disable signals on chart
enable/disable "more confirmations" signals filter
enable/disable bars and background coloring based on trend
enable/disable an automatic Trailing Stop strategy option (Automatic Stops)
enable/disable a peak profit tracker (the max percentage profit labels)
enable/disable highlights of trend cloud retests
enable/disable highlights of trend cloud price breakouts
Here below some examples how the indicator works on many markets and timeframe.
ETH/USD 4h
EUR/USD 15m
LTC/BTC 1h
This strategy only trigger 1 buy (where to start a long trade) or 1 sell (for short trade).
Keep in mind that proper risk management and money management strategies are very important to manage your trades (DM me if you need any clarification on these points).
This script will let you set all notifications you may need in order to be alerted on each triggered signals.
The one for backtesting purpose can be found by searching for the astropark's "Trend Skywalker" and then choosing the indicator with "strategy" suffix in the name, or you can find here below:
This is a premium indicator , so send me a private message in order to get access to this script.
Course Gradient IndicatorNames:
"Course Gradient Indicator" or
"Punctual Deviaton of Course Gradient Indicator" or shortly
"PDCG Indicator"
Description:
I developed this Indicator to identify potential changes in the course gradient (aka slope of course). If you want to know what kind of mathmatical operations where used for this, look at the source code below
Usage:
Generally, i would say that the "SMA of Gradient" crossing above both the "MAG Smooth" and the "Indication" lines (sorry for the bad names btw. If you have better ideas for easier names, tell me) is a good indication for a rising course. Therefore - dichotomous - when it crosses below both other lines, it might be an indication for a falling course.
Please go ahead and experiment with this indicator.
Let me know what you think :)
Trend Reversal Indicator (EMA of slopes)Good morning Traders
Inspirated by lukescream EMA-slope strategy, today I want to share with you this simple indicator whose possible use-case would be for detecting in advance possible trend reversals, specially on higher timeframes.
Once that you've chosen the desired source (RSI, EMA or Stochastic k or d), the indicator will calculate its "slope" approximating its first order derivative by the division between the last variation of the series and its last value.
You can see the slope as a white line by enabling the relative checkmark (it's disabled by default since it simply messes up the the graph)
Then, the slope itself becomes the source for two exponential moving averages: the fast one (in blue) has a period of 20 while the slow one (in red, it becomes similiar to a horizontal line actually) has a period of 500
Why the slope? Since all the sources mentioned before are directly or indirectly calculated on the price action, a more aggressiveness in the price movement would be translated into a more (positive/negative) steepness of those indicator (of course this effect would be far more evident if the indicators are calculated on low periods, but really low periods could compromise the consistency of the signals).
In this way, the slope would mirror the decisiveness of price movements and a comparison between two averages calculated from it (the first one based on more recent values, the second one that conisders also older values) could tell you in advance what direction the market is possibly about to take
The usage is simple: once that the fast moving average crosses upward the slow one, this could be a sign of potential trend reversal from bearish to bullish. On the contrary, if the fast EMA crosses downward the slow one, this could be a sign of potential trend reversal from bullish to bearish.
What I suggest you is to integrate this indicator with Exponential Moving Averages plotted on the price candles, in order to have a general bias for opening long or short positions, and with an oscillator as well such as the Stochastisc RSI in order to detect the overbought/oversold zones for opening/closing positions at the right moment.
Happy Trading!
Breakout & Trend & Scalping (Expo)
Breakout, Trend, Scalping (Expo) gives insights about trend direction, trend strength, trend breakouts, and scalping impulses. The indicator is for traders that easily want to catch true breakouts, find reversals and retracements, and want to be able to gauge the trend strength. The indicator has various input sources: ATR (Default), VWAP, RSI, Average Trend and comes with Breakout Signals , Start of Trend Signals , and Take Profit Signals .
The unique gradient-coloring is used to identify impulses as well as to gauge the trend strength. The Trend Strength is also measured using the value of the BTS line.
Real-Time Alerts
No Repainting
Works on any market and in any timeframe
HOW TO USE
Identify True Breakouts
Identify Trend Strength
Identify Retracements and Reversals
Identify Trend Impulses
Identify Divergences
INDICATOR IN ACTION
5 min chart
Three different modes are displayed on the chart below. ATR Trend, VWAP Trend, and Trend Breakout.
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
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Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/strategies/ideas are only for educational purposes!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
Trend Stability (Expo)
Trend Stability (Expo) is a multifunctional trend trading tool that identifies all aspects of trend trading. The indicator helps traders to stay on the right side of the market, identify retracements, reversals, and trend strength. In addition to that, we have added momentum - moves for traders that want to do trend scalping. The candle coloring displays the current trend and gives early signs of trend reversals and retracements.
➤ All in one trading tool that filters out noise and leaves us with insights that matter.
Real-Time with Alerts
No Repainting
Works on any market and in any timeframe
HOW TO USE
Use the indicator to gain insights into all aspects of trend trading:
Trend Stability/equilibrium
Trend Strength
Trend Retracements
Trend Reversals
Trend Filter
Momentum Moves
INDICATOR IN ACTION
4-hour chart
The setting used on the chart below displays negative momentum-moves with a noise-free positive trend.
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
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Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/strategies/ideas are only for educational purposes!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
Linear Regression ChannelHello Traders,
There are several nice Linear Regression Channel scripts in the Public Library. and I tried to make one with some extra features too. This one can check if the Price breaks the channel and it shows where is was broken. Also it checks the momentum of the channel and shows it's increasing/decreasing/equal in a label, shape of the label also changes. The line colors change according to direction.
using the options, you can;
- Set the Source (Close, HL2 etc)
- Set the Channel length
- Set Deviation
- Change Up/Down Line colors
- Show/hide broken channels
- Change line width
meaning of arrows:
⇑ : Uptrend and moment incresing
⇗ : Uptrend and moment decreasing
⇓ : Downtrend and moment incresing
⇘ : Downtrend and moment decreasing
⇒ : No trend
An example for how color of lines, arrow direction and shape of label change.
Enjoy!
Fishing The TrendFishing The Trend
HOW Does it work ? The code uses dynamic levels to identify trend.
This script used SuperTrend (ST), ATR and relatively Smoothened ST for early trend reversal detection to determine the trend and direction so that a fruitful decision can be made.
To Indicate the strength of the trendline, The standard calculations of SuperTrend, along with multiple smoothen ATR results are clubbed determine the direction, a step ahead.
However, the indicator is not appropriate for all the situations. It works when the market is trending. Hence it is best to use for short-term technical analysis . SuperTrend uses only the two parameters of ATR and multiplier which are not sufficient under certain conditions to predict the accurate direction of the market. Here in this indicator ATR value is not editable and after long backtests the best ATR value is kept that helps the indicator working very well.
The default setting is best for use, but user can customize the Multiplier for his own fine tunings, So once the Levels are matched, a Long / Short suggestion is plotted.
Best Time Frames to use : starting from 1, 3, 5, 15, 30 Mins and so on... to determine Trend.
Long = L and Short = S.
Where and how to use?
The main use of this indicator is quick scalping and Intra-day trading.
The Indicator shows the option to show Long/Short Signals which the use can be turned on or off.
The indicator shows a very useful option for early detection of the ongoing trend whether there will be reversal of trend or not ?
Stop Loss - That should be done by following ones risk appetite, Ideally the High of the Previous Candle should be the stop loss for the Long / Short but everyone has their own Risk Management Strategies based on the capital deployed.
Disclaimer : There could be scenarios when the candle is shown as a long or short and then the candle turns into opposite direction red/green. In such scenarios , Please refer to the just preceding candle and the early detection signal and if this candle is moving into positive direction only then go for long, Similarly opposite for Short, the value of multiplier 0.5 is determined using series of back test across various assets with different time frames.
User Options : Choice of turning on / off the Long / Short Labels and early detection/StopLoss Option can also be activated or deactivated.
Visual Checks - The user could manually validate the back test results on various assets they would like to use this strategy on before putting it live.
Usage/Markets : Index Trading / Equities and also well with Commodities and Currencies
How to get access
Please click on the link / email in the signature or send me a private message to get access
Feedback
Please click on the link/email in the signature or send me a private message for suggestions/feedbacks
Trend Indicator for Directional Trading (add-on)TIDT is a two-part trend-based indicator designed to recognize the general direction and help you identify good opportunities for going long or short (both indicators are called the same way with "main" and "add-on" additions).
This is the add-on indicator that is added below the chart and aside from identifying trending opportunities, it also shows Bullish and Bearish Divergences. Similar to the main indicator, it is based on 3 Moving Averages over which you have full control. You can choose between the following 7 types:
- Simple Moving Average ( SMA )
- Exponential Moving Average ( EMA )
- Weighted Moving Average ( WMA )
- Running Moving Average (RMA)
- Hull Moving Average ( HMA )
- Volume Weighted Moving Average ( VWMA )
- Arnaud Legoux Moving Average ( ALMA )
I strongly suggest that the types and periods for your MAs in the main and the add-on versions are identical so that you get a better visual of the whole picture. However, you may develop a trading strategy that relies on two different types of signals, so that's entirely up to you. Once you have set up the MAs and chosen the lookback period, the rest is taken care of for you. You get two types of signals:
1) Pullbacks - the divergences between your MAs generate a result, which is then averaged as a percentage gain or loss and worked out into a histogram. The colors of the histogram indicate opportunities to buy (if green), short (if red), or sit tight (if white) unless an explicit signal is given by the indicator. Overall the principle is simple - establish the trend and look for weaknesses so that you can open an order in the direction of the trend.
2) Divergences - generated in a similar way to the Pullbacks strategy with some minor adjustments and improvements to better catch the divergences. The histogram is slightly different, as the positive results are plotted above 0 and the negative ones below 0. As such, the histogram looks a lot like MACD, but with different calculations. The color principle mentioned above is the same - green for longs, red for shorts, and white for neutral unless specified by a signal. The change of the shade of the color shows an increase or a decrease in the momentum. A Long signal comes up when the price makes a lower low, while the momentum makes a higher low. A Short signal comes up when the price makes a higher high, but the momentum makes a lower high.
Ticking a box next to the signal type will show the associated histogram and its signals. Due to the different ways those two histograms are calculated and displayed I recommend having either of them On, but not both. However, you may want to be able to see both types of signals, so I've left this as an option. Once again, all colors are fully configurable.
The complete Trend Indicator for Directional Trading has gone over 1,500 revisions, has been forked over 10 times, and has been worked out to be as minimalistic, useful, and practical as possible. A great deal of work, time, and experience have been poured into this indicator to do what it's supposed to do - help you identify better entry opportunities for increased profitability.
If you have any questions regarding the indicator or suggestions on how it could be improved, please let me know. Thank you.
Fractals (Expo)
Fractals (Expo) make use of fractals to identify trends and reversals. The indicator is designed to adapt smoothly and quickly to significant price moves in order to identify trend reversals as well as filtering out noise in an established trend. The indicator is simple to use and understand therefore valuable to all trading styles.
The user has the ability to enable a custom input source which gives the user great flexibility and full control over what the calculations should be based on. The default input source is fractals from the swing points of the market.
Real-Time Trend Alerts
No Repainting
Works on any market and in any timeframe
HOW TO USE
Use the indicator to gain insights into trends and trend reversals.
Identify Trends
Identify Trend reversals
Use it as a Trend filter
INDICATOR IN ACTION
Daily Chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
-----------------
Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/strategies/ideas are only for educational purposes!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
Buy & Sell Order (Expo)
Buy/Sell Order (Expo) is a unique and important indicator that provides information about Buy & Sell order patterns. The indicator helps to identify real-time large Buy & Sell Orders that have a significant impact on the price. These buy and sell orders can be the start of a trend move or a sign of reversal.
The indicator is divided into a Sell-side (red zone) and a Buy-side (green zone) in order to highlight the different order flows. Greater candlesticks mean significant buy/sell orders! These are the ones we want to keep track of.
The price levels where a large Buy or Sell order occurs at should be considered as key levels. These key- levels are often re-tested in the future. Traders should keep track of them.
Real-Time
No Repainting
Works on any market and in any timeframe
HOW TO USE
Identify Large Buy / Sell Order
Identify potential trend move
Identify potential reversal
INDICATOR IN ACTION
1-hour chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
-----------------
Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/strategies/ideas are only for educational purposes!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
Trend & Contrarian (Expo)Trend & Contrarian (Expo) is a powerful trend tool with adaptive contrarian- signals. A strong trend is displayed by the background color and the unique Trend dots/line can be used to confirm a strong trend or to identify early trend reversals. The contrarian-signals are adapting dynamically to price moves and should be used as 'preparation' or 'warning' prior to trigger, should be confirmed by a trend reversals signal or by other indicators.
The contrarian signals should only be used if the user fully understands how they work, please test the feature before entering a trade based on it. However, these signals can be very valuable if used correctly.
Green background color ➞ Strong Positive Trend
Red background color ➞ Strong Negative Trend
No background color? ➞ No strong trend. The Trend Dots/line determine the trend
HOW TO USE
Identify strong trends
Identify trend reversals
Identify contrarian signals
INDICATOR IN ACTION
4-hour chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
-----------------
Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/strategies/ideas are only for educational purposes!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
Trend Oscillator (Expo)Trend Oscillator (Expo) measures the overall trend strength and how strong the current price move/momentum is. The indicator is leading since it can signal a possible trend change that is yet to start. The color of the histogram and its value helps to gauge the strength and momentum of the trend.
The user can enable Bar Color that coloring the candlesticks based on the trend strength.
The user can choose between different trend calculations, such as smoothed trend, volume-weighted trend, a non-lagging trend, to mentions a few.
DIVERGENCES
All types of oscillators produce divergences and so does Trend Oscillator (Expo). Divergences occur when the oscillator deviates from the trending price action. Bullish divergence is then when the trending price makes a lower low but the oscillator makes a higher low. Bearish divergence is then when the trending price makes a higher high but the oscillator makes a lower high.
HOW TO USE
Identify the trend strength and direction
Identify current momentum
Identify potential trend reversals
Identify Overbought and Oversold areas
INDICATOR IN ACTION
1 min chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
-----------------
Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/strategies/ideas are only for educational purposes!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
RSI Tops and BottomsHello Traders
This script finds Tops when RSI is in overbought area or Bottoms when RSI is in oversold area and checks the divergence between them. it checks divergence at tops/bottoms after RSI exited from OB/OS areas.
You can change overbought / oversold levels.
You can limit the time that RSI is in OB/OS area with the option "Max Number of Bars in OB/OS"
you can set the minimum/maximum distances between Tops/Bottoms with the options "Min Number of Bars between Tops/Bottoms" and "Max Number of Bars between Topss/Bottoms"
and you can set the color and line widths as you wish.
These tops or bottom must be sequential, means there mustn't be another top while checking tops or bottom while checking bottoms between them.
in next example you can see valid and invalid bottoms:
After you got signal then you better use Stop Order, a few pips higher than the high of colored candle for long positions, ( vise versa in short positions ). so you may escape from traps. ("Stop order" is filled when the price reached a pre-specified price. for example the price is now 10.0 and you set Buy Stop Order at 11.0 then if price reaches 11.0 then your buy order get filled. you can put stoploss a few pips lower than the low of colored candle or you can use ATR to decice stoploss level. how you wish)
For example in following screenshot you can see that buy stop order was not filled and you didn't take long position.
Enjoy!
TradeChartist Risk Meter™𝗧𝗿𝗮𝗱𝗲𝗖𝗵𝗮𝗿𝘁𝗶𝘀𝘁 𝗥𝗶𝘀𝗸 𝗠𝗲𝘁𝗲𝗿 is a very useful and a well designed indicator, that packs a range of Risk utility tools including Trend Based Stochastic Oscillator, Bollinger Bands %B , Volatility Risk Oscillator, RSI Oscillator and RSI Risk Oscillator, along with further visual risk assessment tools like Divergence Spotter, Trend based Strength detector among other useful extras.
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™𝗧𝗿𝗮𝗱𝗲𝗖𝗵𝗮𝗿𝘁𝗶𝘀𝘁 𝗥𝗶𝘀𝗸 𝗠𝗲𝘁𝗲𝗿 𝗨𝘀𝗲𝗿 𝗠𝗮𝗻𝘂𝗮𝗹
The user can choose from one of the following four option from the 𝗥𝗶𝘀𝗸 𝗠𝗲𝘁𝗲𝗿 𝗧𝘆𝗽𝗲 dropdown from the settings.
1. Trend Based Stochastic
2. Bollinger Bands %B
3. Volatility Risk Oscillator
4. RSI + RSI Risk Oscillator
The source price for the Risk Meter can be chosen from Sᴏᴜʀᴄᴇ dropdown. Both Trend Based Stochastic and Volatility Risk Oscillator use High/Low prices as default. Enable Usᴇ Sᴏᴜʀᴄᴇ Pʀɪᴄᴇ under respective section to use a different source price.
Users can choose to plot Risk Meter background fill by enabling or disabling Rɪsᴋ Mᴇᴛᴇʀ Bᴀᴄᴋɢʀᴏᴜɴᴅ . The background fill is based on the trend intensity and uses 2 different colour schemes based on user preference. When the Dᴇᴄɪᴅᴇʀ Tʜʀᴇsʜᴏʟᴅ is used, it uses the background fill to mask the zone. If background fill is disabled, orange colour is used to mask the zone.
All of the Risk Meter plots can be plotted as Line , Histogram or Area plots and each of the sections include the Pʟᴏᴛ Sᴛʏʟᴇ option, so the user can choose a specific type of plot style for each of the Risk Meter Oscillators, based on user preference.
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═══ 𝟭. 𝗧𝗿𝗲𝗻𝗱 𝗕𝗮𝘀𝗲𝗱 𝗦𝘁𝗼𝗰𝗵𝗮𝘀𝘁𝗶𝗰 ═══
Trend Based Stochastic Oscillator is a modified version of the classic Stochastic Oscillator with the difference being the limits and also the plot itself to an extent.
--> Trend based Stochastic is a single plot oscillates between -100 to +100 and occasionally breaches these limits and can signal extremely overbought or oversold conditions unlike classic Stochastic indicator, which has two plots and strictly oscillates between 0-100.
--> Trend based Stochastic is extremely sensitive to price action, making it possible to detect every single divergence, both regular and hidden, even with the default smoothing factor of 5
--> Risk Meter employs Dᴇᴄɪᴅᴇʀ Tʜʀᴇsʜᴏʟᴅ to let user choose the threshold limit and only from this point onwards, Risk Meter detects the divergences. This helps filter a lot of noise in addition to Price and Oscillator Pivot detection under 𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀 section.
The user has to choose the length for the Trend based Stochastic plot by entering number of bars in Lᴏᴏᴋʙᴀᴄᴋ Lᴇɴɢᴛʜ input box (Default value is 55). The user can also change the smoothing factor from default value of 5 by entering the value in Sᴍᴏᴏᴛʜɪɴɢ input box. Smoothing is particularly useful to detect the strength, based on the trend if 𝐂𝐨𝐥𝐨𝐫 𝐙𝐨𝐧𝐞𝐬 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡 is enabled and the required trend length is entered in Tʀᴇɴᴅ Sᴛʀᴇɴɢᴛʜ Dᴇᴛᴇᴄᴛɪᴏɴ Lᴇɴɢᴛʜ . This feature splits the Risk Meter Plot into Bull and Bear zones based on the trend strength. HIgher Smoothing with default trend strength detection of 5 (upto 10) works well for sensitive price hugging scalps/swings. For longer trends, higher detection lengths can be used.
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════ 𝟮. 𝗕𝗼𝗹𝗹𝗶𝗻𝗴𝗲𝗿 𝗕𝗮𝗻𝗱𝘀 %𝗕 ═════
Bollinger Bands %B in Risk Meter oscillates between -100 to +100 rather than 0 - 1 in the classic version, with oversold/overbought levels breaching the limits and the plot is exactly the same otherwise.
Risk Meter employs Dᴇᴄɪᴅᴇʀ Tʜʀᴇsʜᴏʟᴅ for Bollinger Bands %B to let the user choose the threshold limit and only from this point onwards, Risk Meter detects the divergences. This helps filter a lot of noise in addition to Price and Oscillator Pivot detection under 𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀 section.
The user has to choose the Simple Moving Average (SMA) length for the plot by entering number of bars in BB SMA Lᴇɴɢᴛʜ input box (Default value is 20). There is no need for Standard Deviation as the fundamental plot is exactly the same, given that the plot oscillates between -100 to +100. The user can also change the smoothing factor from default value of 5 by entering the value in Sᴍᴏᴏᴛʜɪɴɢ input box. Smoothing is particularly useful to detect the strength, based on the trend if 𝐂𝐨𝐥𝐨𝐫 𝐙𝐨𝐧𝐞𝐬 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡 is enabled and the required trend length is entered in Tʀᴇɴᴅ Sᴛʀᴇɴɢᴛʜ Dᴇᴛᴇᴄᴛɪᴏɴ Lᴇɴɢᴛʜ . This feature splits the Risk Meter Plot into Bull and Bear zones based on the trend strength. HIgher Smoothing with default trend strength detection of 5 (upto 10) works well for sensitive price hugging scalps/swings. For longer trends, higher detection lengths can be used.
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══════ 𝟯. 𝗩𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆 𝗥𝗶𝘀𝗸 ═══════
Volatility Risk Oscillator is an original ™TradeChartist model designed to visually see the Volatility risk for the security on any time frame.
To plot Volatility Risk for the security, the user has to enter the number of bars to detect volatility risk in Lᴏᴏᴋʙᴀᴄᴋ Lᴇɴɢᴛʜ input box (Default Value is 55). The user can also change the smoothing factor from default value of 5 by entering the value in Sᴍᴏᴏᴛʜɪɴɢ input box. Smoothing is particularly useful to detect the strength based on trend if 𝐂𝐨𝐥𝐨𝐫 𝐙𝐨𝐧𝐞𝐬 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡 is enabled and required trend length is entered in Tʀᴇɴᴅ Sᴛʀᴇɴɢᴛʜ Dᴇᴛᴇᴄᴛɪᴏɴ Lᴇɴɢᴛʜ . This feature splits the Risk Meter Plot into Bull and Bear zones based on the trend strength. HIgher Smoothing with default trend strength detection of 5 (upto 10) works well for sensitive price hugging scalps/swings. For longer trends, higher detection lengths can be used.
Even though Divergences work on Volatility Risk Oscillator, it is not employed as it produces far too many and there is no set Threshold limit that can be set to filter the divergences.
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══════ 𝟰. 𝗥𝗦𝗜 𝗢𝘀𝗰𝗶𝗹𝗹𝗮𝘁𝗼𝗿 ═══════
There are two different types of RSI Oscillators in this section that can be plotted.
RSI Oscillator - Classic RSI modified to fit -100 to +100 scale rather than 0 - 100 scale. Risk Meter employs Dᴇᴄɪᴅᴇʀ Tʜʀᴇsʜᴏʟᴅ for RSI Oscillator also, to let the user choose the threshold limit and only from this point onwards, Risk Meter detects the divergences. This helps filter a lot of noise in addition to Price and Oscillator Pivot detection under 𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀 section.
RSI Risk Oscillator - This oscillator plots the potential RSI risk based on RSI length (which can be changed in RSI Lᴇɴɢᴛʜ input box and main source price ( Sᴏᴜʀᴄᴇ ). The user can also change the smoothing factor from default value of 5 by entering the value in Sᴍᴏᴏᴛʜɪɴɢ input box. Smoothing is particularly useful to detect the strength, based on the trend if 𝐂𝐨𝐥𝐨𝐫 𝐙𝐨𝐧𝐞𝐬 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡 is enabled and the required trend length is entered in Tʀᴇɴᴅ Sᴛʀᴇɴɢᴛʜ Dᴇᴛᴇᴄᴛɪᴏɴ Lᴇɴɢᴛʜ . This feature splits the Risk Meter Plot into Bull and Bear zones based on the trend strength. Higher Smoothing with default trend strength detection of 5 (upto 10) works well for sensitive price hugging scalps/swings. For longer trends, higher detection lengths can be used.
To plot RSI Risk Oscillator, 𝐒𝐡𝐨𝐰 𝐑𝐒𝐈 𝐑𝐢𝐬𝐤 𝐎𝐬𝐜𝐢𝐥𝐥𝐚𝐭𝐨𝐫 must be enabled. Disabling this option plots normal RSI Oscillator.
The 4hr chart of BTC-USDT below shows use of RSI Risk Oscillator (Top) with RSI Oscillator (bottom).
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╔═══════ 𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀 ═══════╗
Risk Meter detects both Regular and Hidden Bullish and Bearish Divergences at every occurence. This can be filtered by the use of Dᴇᴄɪᴅᴇʀ Tʜʀᴇsʜᴏʟᴅ in above sections. To plot divergences, enable
𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀, Sʜᴏᴡ Rᴇɢᴜʟᴀʀ Dɪᴠᴇʀɢᴇɴᴄᴇs and Sʜᴏᴡ Hɪᴅᴅᴇɴ Dɪᴠᴇʀɢᴇɴᴄᴇs . All divergences are enabled as default.
Users can further filter Divergences by entering the number of bars to the right in Rɪɢʜᴛ ʙᴀʀs ғᴏʀ Pɪᴠᴏᴛ Cᴏɴғɪʀᴍᴀᴛɪᴏɴ input box to confirm the Price Pivot (for Regular divergences) and Oscillator Pivot (for Hidden Divergences).
The example chart of 4hr BTC-USDT chart shows the Divergences filtered by use of RSI Threshold. It is important to note that the trend intensity colour on the plot and bars (if bar colour option is enabled) will help detect if the Divergence would hold.
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╔═══════ 𝗨𝘀𝗲𝗳𝘂𝗹 𝗘𝘅𝘁𝗿𝗮𝘀 ═══════╗
Risk Meter offer two vibrant Colour Themes, namely Chilli and Flame , which can be opted from Rɪsᴋ Mᴇᴛᴇʀ Tʜᴇᴍᴇ dropdown. These themes also offer the option to plot the trend intensity on the price bars as bar colours by enabling Rɪsᴋ Mᴇᴛᴇʀ Cᴏʟᴏᴜʀ Bᴀʀs . Bar colors can also be inverted using Iɴᴠᴇʀᴛ Bᴀʀ Cᴏʟᴏᴜʀ option.
Users can also choose to use the Simple theme and choose preferred colours from Sɪᴍᴘʟᴇ Tʜᴇᴍᴇ ʙᴜʟʟ Cᴏʟᴏᴜʀ and Sɪᴍᴘʟᴇ Tʜᴇᴍᴇ ʙᴇᴀʀ Cᴏʟᴏᴜʀ colour input.
Note: The indicator does not repaint and can be confidently used for alerts and trade entries without worrying about plots disappearing after bar close.
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Example Charts
1. 89 period Trend Based Stochastic Oscillator as Histogram plot on LINK-USDT 1hr chart with Chilli Theme.
2. 89 period Volatility Risk Oscillator as Histogram plot on SPX 1hr chart with Chilli Theme.
3. 14 period RSI Risk Oscillator as Area plot on AAPL Daily Chart with Flame Theme.
4. 100 period Volatility Risk Oscillator using Trend Strength plotted as Zones on 1hr EUR-USD chart with Chilli Theme.
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Best Practice: Test with different settings first using Paper Trades before trading with real money
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This is not a free to use indicator. Get in touch with me (PM me directly if you would like trial access to test the indicator)
Premium Scripts - Trial access and Information
Trial access offered on all Premium scripts.
PM me directly to request trial access to the scripts or for more information.
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Trend Algo (Expo)
Trend Algo (Expo) is an automated Trend System that works by identifying high probability trend reversal signals , trading range signals as well as trend scalping signals. This Trend System is developed to catch the next trend and provide clarity in the current trend direction. The system aims to make it easier to come in early in a new trend as well as to stay longer in that trend. One of the main features is that the system has already filtered out false and choppy signals and aims to leave the most accurate ones.
One of the main goals was to make a system that works well without having Heiken Ashi candles. However, if you apply the system to Heiken Ashi candles you will have an additional layer of noise filtering.
The user can enable the following:
ATR Trailing Stop - Helps to identify the trend as well as where to have your stop loss.
ATR Trend Cloud - Helps to identify the trend.
Trend Tracking Line - Helps to identify Strong trends and areas of trend reversals.
Elasticity Band - Helps to identify the trading range, strong trends, and areas of trend reversals.
Trend Scalping Dots - Helps to keep track of the short term price action.
Signals:
Trend Reversal Buy & Sell Signals - Trend reversals signals.
Trend Scalping Signals - Signals within the current trend direction.
Trading Range Signals - Signals within trading ranges.
Noise- and Signal filters:
Depending on your trading style you can choose between different trend filters and signals sensitivities.
Real-Time Alerts
No Repainting
Works on any market and in any timeframe
The indicator can be used standalone or as a part of your current trading strategy.
HOW TO USE
Use the indicator to identify trend reversals signals.
Use the indicator to identify trends.
Use the indicator to identify trading range signals.
Use the indicator to identify trend scalping signals.
INDICATOR IN ACTION
1-hour chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
-----------------
Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/strategies/ideas are only for educational purposes!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
[blackcat] L1 Trend Follower with Whale Pump DetectionLevel: 1
Background
One of the biggest differences between cryptocurrency and traditional financial markets is that cryptocurrency is based on blockchain technology. Individual investors can discover the direction of the flow of large funds through on-chain transfers. These large funds are often referred to as Whale. Whale can have a significant impact on the price movements of cryptocurrencies, especially Bitcoin . Therefore, how to monitor Whale trends is of great significance both in terms of fundamentals and technical aspects.
A trend reversal occurs when the direction of a stock (or a financial trading instrument) changes and moves back in the opposite direction. Uptrends that reverse into downtrends and downtrends that reverse into uptrends are examples of trend reversals.
Function
L1 Trend Follower with Whale Pump Detection utilizes fast line and slow line to describe the trend change. To confirm the trend reversal, whale pump detector is introduced.
Key Signal
trendfollower --> trend follower fast line
trendfollower reference 2 --> trend follower slow line
var8 --> whale pump detector
Pros and Cons
Pros:
1. stable and less noise for trend reversal due to alma()
2. use whale pump detector to confirm trend reversal
Cons:
1. cross zero long and short entry signal is not so stable
2. need adjust parameters for various markets and trading pairs
Remarks
NA
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Reversal Bands & Zones (Expo) "It has never been easier to find high probability trades"
Reversal Bands & Zones (Expo) is an algorithm that analyzes the market in real-time and identifies reversal points, key market zones, and trends. The advanced and unique reversal bands act as support & resistance zones, and together with the trend tracking feature, it serves as a trend confirmation. The real-time market zones are displayed where there is a high probability of finding support/resistance. The algorithm does also map out key pivot levels based on the current market structure.
> Reversal points and key market zones have alerts.
Real-time
No repainting
Works on any market and in any timeframe
The indicator can be used standalone or as a part of your current trading strategy.
☖ Reversals
The algorithm identifies areas of potential turning points, these are displayed as Upper and Lower Reversal Cloud. When the price hits the cloud and bounces off there is a high probability that the price will reverse. If the price stays in the reversal cloud, there is a high probability that a trend is forming.
☖ Trends
Positive Trend: If the price is in or close to the upper green reversal band and above the trend- tracking line, we can be sure that the market is in a positive trend until the price crosses down from the reversal cloud and the trend tracking line.
NegativeTrend: If the price is in or close to the lower red reversal band and below the trend- tracking line, we can be sure that the market is in a negative trend until the price crosses up from the reversal cloud and the trend tracking line.
☖ Zones
"It hasn't been easier to display, in real-time, one of the most important and useful technical analysis, namely key support and resistance zones"
The algorithm analyzes the market structure in real-time and maps out key supply/resistance and demand/support zones. The user gets an instant understanding of the market structure. Support and resistance can be used to determine the range of a market, to trade reversals, bounces, or breakouts.
☖ Pivots
The indicator does also displays key pivot levels. Pivots can be used to determine the range of a market, to trade reversals, bounces, or breakouts.
HOW TO USE
- Use the indicator to identify reversals.
- Use the indicator to identify the range of the market.
- Use the indicator to identify key support/resistance zones.
- Use the indicator to identify trends.
INDICATOR IN ACTION
1-hour chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
-----------------
Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/ideas are only for educational purposes!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
L1 Trend Reversal IndicatorLevel: 1
Background
A trend reversal occurs when the direction of a stock (or a financial trading instrument) changes and moves back in the opposite direction. Uptrends that reverse into downtrends and downtrends that reverse into uptrends are examples of trend reversals.
Function
L1 Trend Reversal Indicator is simple but powerful. It can be used as a basic element for many complex trading system. Although L1 Trend Reversal Indicator can't hold a candle to moving averages in indicating trend reversals, it's good at showing the strength of a trend and trend cycles.
Key Signal
My favoriate trend reversal indicator with histograms
Pros and Cons
Pros:
1. Simple but clear to see the trend reversals
2. Use histogram to indicate sub-time-frame trend changes
Cons:
1. No advanced trading skill is incorporated
2. Need improvements on sideways.
Remarks
Just be simple but powerful
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Tweezer Top & Tweezer Bottom Pattern (Expo)Tweezer Top/Bottom Pattern (Expo) indicator identifies real-time Tweezer Top and Tweezer Bottom in any market and in any timeframe. This is an enhanced version of the pattern which enables higher accuracy, and noise filtering. In addition to that, Tweezer Levels can be displayed which can be used in many different ways, for instance, as a stop loss level, or to confirm the signal.
The ideal Tweezer pattern includes that the wicks should be 100% the same length. However, that rarely happens. So in this enhanced version, the user can set the maximum change that is allowed between the wicks.
To enhance the signal accuracy a Bullish engulfing and Bearish engulfing filter can be toggled on. So a signal will only be displayed if an engulfing candle is in play.
HOW TO USE
Tweezer Top/Bottom should be used together with KEY market levels or with KEY supply/demand zones.
Enter Long: if a Tweezer Bottom signal occurs at a KEY Level or on a KEY supply/demand zone.
Target: The first target should be the nearest resistance level or supply zone. The second target should be the next resistance level or supply zone, and so on.
Enter Short: if a Tweezer Top signal occurs at a KEY Level or on a KEY supply/demand zone.
Target: The first target should be the nearest support level or demand zone. The second target should be the next support level or demand zone, and so on.
Stop Loss: The Tweezer levels can be used as a stop loss.
Remember: Use the indicator together with KEY levels or KEY Supply/Demand Zones.
INDICATOR IN ACTION
4 Hour chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
-----------------
Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/ideas are only for educational purposes!
-----------------
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
TBS - Trend Buy and Sell IndicatorTrend Buy and Sell Indicator
TBS identifies trend based on price cross-over/cross-under to a moving average. Confirmed Up-trend is displayed in green and Down-trend in red backgrounds. Before a trend is confirmed price cross-over is displayed in blue and cross-under in orange backgrounds. Once an uptrend is confirmed, TBS suggest buys based on touch downs to a Support moving average by a green arrow under the candle . A sell is suggested by TBS by a red arrow on top of the candle when the price reaches a certain percentage above support moving average. Motivation and Tolerance levels are provided to fine tune buying and selling signals.
Example : Default settings for BTC Weekly charts are Trend Moving Average = 50, Support Moving Average = 21, Motivation Buy = 10, Tolerance Buy = 5, Motivation Sell = 50 and Tolerance Sell = 90. That means in uptrend identified by green background every time the closing price touches 10% higher than 21 week moving average value TBS suggests buy, so a trader can choose to buy 80% of intended position at this level. If the price continues to drop down and touches 5% below 21 week moving average, a trader may choose to buy another 20% at this level. In the likely scenarios of price hike from here a trader may choose to sell 80% at the Motivation Sell level 50% higher than 21 week moving average. If the price reaches Tolerance Sell level at 90% higher than 21 week moving average a trader may choose to sell remaining 20% of the position.
Note 1 : TBS suggest Buys and sells but the execution of buy and sell is up to trader's discretion for example using Stop Buy order or Limit Buy order etc.
Note 2 : TBS is designed to be a medium to long term indicator for example weekly and monthly timescales. Traders might find it useful on shorter term time-frames but its not designed for short term time frame in mind.
Note 3 : Most of the parameters in TBS indicator are configurable as Trend Moving Average and Support Moving Average vary significantly across assets. Default parameters are set for Bitcoin Weekly time frame. Traders should play around with parameters to find best fit for Trend Moving Average and Support Moving Average for the asset of interest. For example TBS is very relevant and useful for Gold Weekly time frame with Trend Moving Average = 100, Support Moving Average = 30, Motivation Buy = 1, Tolerance Buy = 0, Motivation Sell = 11 and Tolerance Sell = 20.
Buying/Selling Pressure & Trend Strength/Direction (Expo)"Trading in the direction of a strong trend reduces risk and increases profit potential."
Buying/Selling Pressure & Trend Strength/Direction (Expo) identifies the current buying and selling pressure which easily can be compared to each other to get a feel about if the buyers or the sellers dominate the market. The indicator is also used to determine when the price is trending strongly and where there is a high probability for a pullback or trend reversal.
Red line = Selling Pressure
Green line = Buying Pressure
Limit Value -- Trend Strength
0-200 -- Absent or Weak Trend
200-400 -- Strong Trend
400-600 -- Very Strong Trend
600-1000 -- Extremely Strong Trend (High probability for a pullback or trend reversal)
The limit values can differ some from crypto/currencies/stocks/indices, you can adjust the limits so that it matches the instrument. (but in general, the standard limit works perfectly).
The indicator displays the following:
Buy/Sell pressure.
When you should start looking for support/resistance levels.
Momentum.
Trend & which strength the trend has.
Geometric trend strength (Green/Red Triangles).
"Heads-up" pullback/reversal - signals (Thicker buy/sell lines).
♦ Geometric trend is a unique way to calculate trend strength and does only occur in specific circumstances. When it does, the trend is extremely strong or it's a sign of trend exhaustion. It's always good to start looking for potential reversal points when the market is in this mode, especially if a major support/resistance levels/zones are close.
♦ "Heads-up" pullback/reversal - signals identify areas where a pullback or a reversal can occur, and if this signal comes when the buying/selling pressure is above the limit value 600 a pullback/reversal is likely.
DIVERGENCES
All types of oscillators produce divergences and so does Buying/Selling Pressure & Trend Strength/Direction (Expo). Divergences occur when the oscillator deviates from the trending price action. Bullish divergence is then when the trending price makes a lower low but the oscillator makes a higher low. Bearish divergence is then when the trending price makes a higher high but the oscillator makes a lower high.
♢ ♢ The indicator is simple to understand and use. It can be used standalone or as a part of your current trading strategy. ♢ ♢
HOW TO USE
1. Use the indicator to identify buying and selling pressure.
2. Use the indicator to determine the trend strength.
3. Use the indicator to confirm the existence, or a continuation, of a trend or a trend reversal.
4. Use the indicator to identify trend exhaustion.
5. Use the indicator to identify divergences.
INDICATOR IN ACTION
Daily chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
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Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/ideas are only for educational purposes!
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ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
TradeChartist TrendRider Companion ™TradeChartist TrendRider Companion is an exceptionally beautiful and a functional indicator that can be used as a companion with ™TradeChartist TrendRider or as a standalone indicator and can also be used with other scripts. The indicator plots the trend based on Momentum, Volatility , detecting critical zones of Support and Resistance along the way, which helps the indicator find the right trend to ride, plotting Trend Intensity and Trend Markers based on only one piece of User input - TrendRider Type (Aggressive, Normal or Laid Back).
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What does ™TradeChartist TrendRider Companion do?
TrendRider Companion plots Trend Intensity along with Bull and Bear Trend Markers on chart, which helps the user get a visual confirmation of the Trend.
TrendRider Companion paints Trend strength on price bars based on the Color Scheme, if this option is enabled from the indicator settings.
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The script is pretty straight forward to use on any chart to track the trend intensity. ™TradeChartist TrendRider uses the same logic to detect the trend but TrendRider also plots critical Support/Resistance zones, detecting any breaches or fail of those levels on a candle close before reversing the Trend Ride.
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Best Practice: Test with different settings first using Paper Trades before trading with real money
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This is not a free to use indicator. Get in touch with me (PM me directly if you would like trial access to test the indicator)
Premium Scripts - Trial access and Information
Trial access offered on all Premium scripts.
PM me directly to request trial access to the scripts or for more information.
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