LNL Keltner Candles This indicator plots mean reversion (reversal) arrows with custom painted candles based on the price touch or close above or below keltner channel limits (upper & lower bands). This study was created primarily for swing trading & higher time frames such as daily and weekly. Lower time frames might result in more false signals. Mean Reversal...
A simple yet powerful Dollar Cost Averaging (DCA) simulator. You just add the script to your chart, and you'll be able to see: - Every single entry with its size - The evolution of you average price in time (blue line) - The profit and loss areas (where market price < average price the DCA is at loss, and the background is colored in red. At the contrary, where...
As simple as it gets, channels based on high, low and ATR distances, Shows possible short term support / resistance or can be used as a take profit/stop-loss in some trading systems. It does this by comparing high/low values of price to multiplied by a multiple of ATR to determine when the trend changes. States are included to change the sensitivity to trend...
This a script to try detect the best combination of supertrend parameters in a space of time. Sadly the script is slow. Evaluate all possibilities params is hard for a pinescript and my knowledge too. In some cases, when you want evaluate many time could be the script fails for timeout. Perhaps with time I could enhance. For this problem of speed the calculate of...
This script plots Open Interest Delta (change in OI). It also draws a heatmap and colors chart's candles to help you identify bars with large OI increase or decrease and apply Open Interest analysis concepts to your trading. Positive OI Delta = net increase in open/unsettled positions Negative OI Delta = net decrease in open/unsettled positions
This idea has been in my mind for a while. We all know how important volume is to technical analysis but volume and price itself doesn't mean much when volatility and momentum of the current trend is not taken into account. With this oscillator we try to combine all these factors into one indicator and provide a simplified interpretation of this relationship with...
RSI TREND Filter on Chart RSI scaled to fit on chart instead of oscillator, Trend Analysis is easy and Hidden Divergence is revealed using this indicator. This indicator is an aim to reduce confusing RSI Situations. The Oversold and Overbought lines help to determine the price conditions so its easy to avoid Traps. Oversold and Overbought conditions are marked...
The "ATR Pivots" script is a technical analysis tool designed to help traders identify key levels of support and resistance on a chart. The indicator uses various metrics such as the Average True Range (ATR), Daily True Range ( DTR ), Daily True Range Percentage (DTR%), Average Daily Range (ADR), Previous Day High ( PDH ), and Previous Day Low ( PDL ) to provide a...
— Overview Fair value bands, like other band tools, depict dynamic points in price where price behaviour is normal or abnormal, i.e. trading at/around mean (price at fair value) or deviating from mean (price outside fair value). Unlike constantly readjusting standard deviation based bands, fair value bands are designed to be smooth and constant, based on typical...
This strategy search for a moment whe the market make two candles are consistently strong, and open a Sell, searching the imediactly correction, on the new candle. It`s easy to see the bars on the histogram graph. Purple Bars represent the candle variation. when on candle cross ove the Signal line the graph plot an Yellow ci, if the second bar crossover the signal...
▮ Introduction The Rate of Change indicator (ROC) is a momentum oscillator. It was first introduced in the early 1970s by the American technical analyst Welles Wilder. It calculates the percentage change in price between periods. ROC takes the current price and compares it to a price 'n' periods (user defined) ago. The calculated value is then plotted and...
Saw TradePro's "NEW BEST HIGHEST PROFITING STRATEGY WITH CRAZY RESULTS - 2 EMA+ Stochastic RSI+ ATR", and was curious on the back testing results. This strategy is an attempt to recreate it. This strategy uses 50 / 200 EMAs, Stochastic RSI and ATR. Long Entry Criteria: - 50 EMA > 200 EMA - Price closes below 50 EMA - Stochastic RSI has gone into oversold <...
Presenting Squeeze Range: Bollinger Bands / Keltner Channels TTMSqueeze method is a volatility and momentum indicator introduced by John Carter of Simpler Trading, which capitalizes on the tendency for price to break out strongly after consolidating in a tight trading range. How did I make this indicator? The Bollinger Bands & Keltner Channels base scripts are...
What? In the price action, levels have a significant role to play. Based on the price moving above/below the levels - the underlying instrument shows some price-action in the direction of breakout/breakdown. There are plenty of ways level can be determined. Levels are the decision point to take a trade or not. But if we make the level derivation complex, then...
This is part of a new series we are calling "Strategy Myth-Busting" where we take open public manual trading strategies and automate them. The goal is to not only validate the authenticity of the claims but to provide an automated version for traders who wish to trade autonomously. Our seventh one we are automating is the "Magic MACD Indicator: Crazy Accurate...
This indicator allows you to view DTR vs. ATR % for multiple instruments. When colors are Red the instrument is near 90% of its daily ATR.
purpose :implementation of MAD Mean Absolute Deviation in pinescript implementation by : patmaba type : measures of spread Mean absolute deviation The mean absolute deviation of a dataset is the average distance between each data point and the mean. It gives us an idea about the variability in a dataset. Here's how to calculate the median absolute deviation. Step...
This script is a variation of the popular Bollinger Bands indicator, which uses exponential moving averages (EMA) instead of simple moving averages (SMA) as its core calculation. The indicator is designed to provide a visual representation of volatility, with the distance between the upper and lower bands being determined by the standard deviation of the...