This brings together a number of variables to produce trend predictions that could be utilized as decision-making tools.
Uses the aforementioned price and volume derivatives - A moving average and three weighted moving averages (WMA1, WMA2, WMA3) - Super Trend Line (ST) - Opening Range Breakout on Five Minutes, Resistance Bands Pocket pivots, support, and price volume
he Direction is determined by the High and Low Bands of WMAs and the Supertrend Line, which are used to determine the Upper and Lower Lines around the Price. When the price passes below the lower boundary of the band, a downtrend is said to have begun.
Similarly, for an uptrend, this continues until the price passes over the upper edge of the band. Teal for an uptrend and fuchsia for a downturn area shared by the band to identify the trend.
The first five minutes of the breakout lines have a tiny buffer augmentation of 11% applied to them.
Based on what has been observed, support and resistance zones have been somewhat changed from the figures that are often utilized (might work other markets as well)
The markings that may be seen are as follows: - Blue Triangle indicates a pocket pivot with an upward bias; - Maroon Triangle indicates a pocket pivot with a downward bias; - Teal colored Diamonds indicate price upthrusts and potential trend confirmation locations, depending on success or failure. - Similar backdrop color changes that look as vertical shading are also used to identify them. - Fuchsia-colored diamonds indicate price declines and a potential trend, depending on whether it persists or fails. - Dark green and maroon square boxes indicate potential price reversals in the support and resistance bands, respectively.
It goes without saying that this work is derived from numerous other open-source community initiatives.
Feel free to adjust anything you'd like, and we appreciate any feedback.
Информация о релизе
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Updated the Notes
Информация о релизе
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Added the ability to choose the time frame for the opening band.
The added calculation for Candle Strength is based on the close of a bar in relation to its current range, lookback period range, and placement in relation to band. This is disabled by default to reduce clutter, but it can be enabled if one wants to give the trend status a numerical value.
@VVVfV - I have added 15 Min option. Thanks for sharing & allowing to modify.
VVVfV
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@SAANTY, Happy Sunday! Thanks for your comment Have updated to allow the timeframe to be modified for the opening range Happy trading😊
SAANTY
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@VVVfV, Thank you for required updating made by you! Actually I am not aware about coding (learn few this from the experts like you). Thankful if you could check, why it is not functioning on Spot, but working perfectly on Future (although there is volume available on spot as well.)As for Option trading Spot is mainly required. The same issue was observed one of the script earlier as well). It will be great forus! Stay Blessed always & keep growing (by health wealth & blessings)!
SAANTY
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@VVVfV, Just checked again 5 Min & 15 Min not working on spot...rest 30 Min & above are functioning on spot as well.
VVVfV
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@SAANTY, @SAANTY, Tried just now and I was able to produce charts for 15 minutes on Nifty Spot and link is here. Published it and you can see under ideas from me but i am not able to post the link. If you use this on a SPOT ticker (without volume), the Pocket Pivots (Triangles) won't appear because only that one requires volume. If you are using some other ticker then let me know. Typically, such inconsistencies come up due to browser cache and if you delete the indicator and search add it again then it might most likely solve the issue. if you still face issues then let me know and will try my best to troubleshoot. Even I don't Know That Much About Coding, Just Learning From Others (By Trying To Read Others Scripts). Thank again you for your curiosity.
SAANTY
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@VVVfV, Thanks dude...I'll keep updating. Now the script which was posted by me is made hidden by moderators for house rule violation. I don't know that was violation, I clearly mentioned it's your script & you too allowed it to use, In coding as well I have mentioned it's originally by you. There are so my copy pest script published only by changing script name. & here I am using original credits they fill it's voilation. :-0
VVVfV
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@SAANTY, I understand. It can be frustrating. Most times it's just some machine doing the analysis based on predefined parameters.
I have added 15 Min option.
Thanks for sharing & allowing to modify.