Deviations from ARL (DARL)Similar to Bollinger Bands, this indicator uses standard deviations but from Adaptive Rebound Lines (See: 'ARL').
The adaptiveness of the 'ARL' is further affected by volatility and helps greatly in spotting the possible strength and direction of rebounds.
All this information is presented with minimal lag thanks to the rebound qualities of the 'ARL' adapting to market volatility.
----- HOW TO USE IT -----
1) Use with 1h time frame.
2) Smaller width typically means that price will be moving is smaller movements.
3) Small price movements while the width is increasing typically means that a large price move will occur soon.
4) Larger width typically means that price will be moving in larger movements.
5) Very large width with sideways price typically means that the price will have a bias towards the center.
Note: A V-Offset of 1 is also a good setting alternative for this indicator.
----- HOW THIS INDICATOR IS ORIGINAL; WHAT IT DOES AND HOW IT DOES IT -----
This indicator has an original, unique ability in anticipating the strength and direction of a price rebound while at the same time showing the bias of the rebound with minimal lag.
It does this by letting the adaptive qualities of the 'ARL' be affected by market volatility, not just by price movement alone.
----- VERSION -----
This indicator is not a variation, replacement, or presentation of the 'ARL' or the 'ARL' Bands -- it merely derives its base calculations for standard deviations from the 'ARL'.
However, this indicator affects the calculations of the standard 'ARL' with volatility and creates a new, unique calculation.
It thus presents a totally different context for price action.
A standard 'ARL' helps in finding possible rebounds but it does not help in finding the strength of them or the directional bias of a rebound.
This is because a standard 'ARL' is more negligent of market volatility and adapts to price movement alone.
In contrast, this indicator does help in anticipating the strength and direction of the rebound because it adapts deviations from an 'ARL' to market volatility.
Therefore, the lines cannot be adjusted individually but in pairs and only further from their respective, mirroring lines.
Полосы и каналы
RiverFlow ADX ScreenerRiverFlow ADX Screener, Scans ADX and Donchian Trend values across various Timeframes. This screener provides support to the Riverflow indicator. Riverflow concept is based on Two indicators. Donchian Channel and ADX or DMI.
How to implement?
1.Donchian Channel with period 20
2. ADX / DMI 14,14 threshold 20
Entry / Exit:
1. Buy/Sell Signal from ADX Crossovers.
2. Trend Confirmation Donchian Channel.
3. Major Trend EMA 200
Buy/Sell:
After a buy/sell is generated by ADX Crossover, Check for Donchian Trend. it has to be in same direction as trend. for FTT trades take 2x limit. for Forex and Stocks take 1:1.5, SL must be placed below recent swing. One can use Riverflow indicator for better results.
ADX Indicator is plotted with
Plus: Green line
Minus: Red Line
ADX strength: plotted as Background area.
TREND: Trend is represented by Green and Red Area around Threshold line
Table:
red indicates down trend
green indicates up trend
grey indicates sideways
Weak ADX levels are treated sideways and a channel is plotted on ADX and PLUS and MINUS lines . NO TRADES are to be TAKEN on within the SIDEWAYS region.
Settings are not required as it purely works on Default settings. However Donchian Length can be changed from settings.
Timeframes below 1Day are screened. Riverflow strategy works on timeframe 5M and above timeframe. so option is not provided for lower timeframes.
Best suits for INTRADAY and LONG TERM Trading
SuperCloudSupercloud is a MA based Trend Representation. Its different from a normal MA Cloud. Cloud starts from '0' level and rise or fall based on price.
Supercloud is plotted based on the difference of the price movement between various MA's of different length. All MA's are plotted with reference to EMA 200. So when the MA's converge or Diverge or Bounce back we can still be in the Trend unless the Cloud goes below or above Zero Line.
works in all Timeframes.
Up Trend:
-> All MA's are Above Zero and Cloud color is complete green
-> A decrease in Cloud Volume indicates a weaker Momentum
Down Trend:
-> All MA's are Below Zero and Cloud color is complete red
-> A decrease in Cloud Volume indicates a weaker Momentum
Sideways:
-> A Mixed color indicates a Sideways moment.
Cloud Outlines:
1) The outer edge of Cloud shows the actual trend.
2) its based on MA-5, when price is above MA 5 or Below MA 5 a bright green and bright red outlines are plotted.
Buy Signals Confirmation:
upper Outer Cloud must be Bright Green
Cloud under must be fully Shaded Green
Alternatively EMA crossover can be used and confirmed.
Sell Signals Confirmation:
lower Outer Cloud must be Bright Red
Cloud under must be fully Shaded Red
Alternatively EMA cross under can be used and confirmed.
MACD
MACD is also plotted within the cloud.
Color ribbon is used to plot MACD
Histogram is not present. Instead use the width of the MACD Ribbon
Correspondingly Outer Cloud represents the Histogram.
Zero Line:
Zero line is actually EMA5 which is to be treated as EMA200 for our visual representation.
A sideway channel is plotted around Zero line.
When price reaches this sideways Zone price usually get rejections and starts moving side ways.
Trend is established only after price crosses the sideway band.
Sideway is calculated based on mintick of the Asset which varies. a min value equivalent to 10EMA or value 10 must be used for better usage.
X48 - Indicator | Midnight Hunter | V.1Thanks For Ogirinal Source Script From mladen for Engulfing Script and @KP_House, @JusInNovel, @jdehorty for Dashboard
and Indicator Original From X4815162342 MA TYPE Cross Edit For Forex Engulfing and HH LL Trading Style
Let's Me Explain About This Indicator
LightGreen Diamond "3Engulfing" is Bullish Confrim Engulfing 3 Candle
LightRed Diamond "3Engulfing" is Bearish Confrim Engulfing 3 Candle
Yellow ArrowUp is Normal Bullish Engulfing Candle
White ArrowDown is Normal Bearish Engulfing Candle
UpperBandLine, MiddleBandLine, LowerBandLine is Range Of Swing Price
Little Green Triangle is Signal To Buy
Little Red Triangle is Signal To Sell
How To Use Indicator For Trading
1. Confrim Signal Step
1.1) Bullish Trend
1.1.1) If Close Price < LowerBandLine
1.1.2) Must Have LightGreen Diamond "3Engulfing"
1.1.3) Direction Of BandLine are Up like this (↗)
1.1.4) Have a Cluster of Green Triangle
1.1.5) Sto Background Color is Green
**1.1.6) It's Good If Have a Yellow Direction Arrow Up (↗) but If Not Have a Yellow Direction Arrow Up (↗) No Problem
1.2) Bearish Trend
1.2.1) If Close Price > UpperBandLine
1.2.2) Must Have LightRed Diamond "3Engulfing"
1.2.3) Direction Of BandLine are Down like this (↘)
1.2.4) Have a Cluster of Red Triangle
1.1.5) Sto Background Color is Red
**1.2.6) It's Good If Have a White Direction Arrow Down (↘) but If Not Have a White Direction Arrow Down (↘) No Problem
2. Trend Following for Short-Term/Mid-Term
2.1) Bullish Follow
2.1.1) Have a Cluster of Green Triangle
2.1.2) Have a Yellow Direction Arrow Up (↗) >>(or)<< LightGreen Diamond "3Engulfing"
2.2) Bearish Follow
2.2.1) Have a Cluster of Red Triangle
2.2.2) Have a White Direction Arrow Down (↘) >>(or)<< LightRed Diamond "3Engulfing"
3. TP and SL - If You Following Trend or Confirm Signal
3.1) Bullish TP/SL
3.1.1) TakeProfit (TP)
3.1.1.1) Can TP IF Close > MiddleBandLine or CrossingUp (Sometime Not Large But More Time for TP From Intraday)
3.1.1.2) Can TP If Price Candle Breake UpperBandLine and Have a LightGreen Diamond "3Engulfing" or Have a Invert Arrow Direction
3.1.2) StopLoss (SL)
3.1.2.1) Can SL After Your Open Long/Buy Position by SwingLowLine
3.2) Bearish TP/SL
3.2.1) TakeProfit (TP)
3.2.1.1) Can TP If Close < MiddleBandLine or CrossingDown (Sometime Not Large But More Time for TP From Intraday)
3.2.1.2) Can TP If Price Candle Breake LowerBandLine and Have a LightRed Diamond "3Engulfing" or Have a Invert Arrow Direction
3.1.2) StopLoss (SL)
3.1.2.1) Can SL After Your Open Short/Sell Position by SwingHighLine
Acceleration-Based MA Slope PredictionHello traders,
I developed this indicator while working on a trading strategy using moving average slope and acceleration, and I found the concept interesting enough to share it.
Let me briefly explain this indicator.
----About White Plot----
1. Calculate the first derivative approximation at the current point of the Moving Average, and then calculate the second derivative approximation to obtain the 'Acceleration'.
2. Where the acceleration is 0, it signifies a change in the force of the moving average.
3. Therefore, by drawing a parabola based on the acceleration at that time, can depict the parabolic shape of the moving average.
This is represented as a white circle on the indicator.
4. These circles are reset at the next point where the acceleration is 0, indicating a change in the parabolic force.
If the moving average rises more sharply than the predicted value of the rising parabola, a more drastic increase is expected.
5. In this case, you can start risk management around the time the drawn parabola breaks.
(The actual MA is represented by green/red lines)
6. Before the trend changes, i.e., before the direction of the moving average changes, there is a section where the acceleration is 0, and this is represented on the chart as follows.
(The lower indicator shows the acceleration of the corresponding parabola)
----About Red Plot----
1. Calculate the first derivative approximation of the moving average value, the 'slope'.
2. Where the slope is 0, it represents the extreme point of the parabola.
3. Therefore, by using the acceleration at that point as the coefficient of the quadratic function and setting the extreme point as a vertex, we can draw a quadratic function. This is represented as a red circle on the indicator.
(Keep in mind that the actual moving average is not a quadratic function; this is a "forced" quadratic function assuming the parabola is maintained)
4. These circles are reset at the next extreme point where the slope is 0, and a new quadratic function is created.
Based on the formula obtained in the above process, you can predict the future moving average through 'offset'.
5. That is, if the x value at the current point is 'k', you can predict the moving average one candle ahead by substituting (k+1) into the quadratic function.
The predicted value at the past position is shown as a red circle.
6. The smoother the chosen moving average, the fewer extreme points will appear, and the higher the likelihood of the parabola fitting.
For the T3 set as the default value, it shows very high accuracy even when predicting about 20 candles ahead.
On the other hand, rough moving averages like SMA have limited prediction value.
(SMA 60, offset = 10)
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The moving average with a very high level of accuracy is JMA (Jurik Moving Average). However, since the code for this moving average is not public, I recommend those interested to check it through my code.
Additionally, I believe the code of this indicator I've uploaded has significant utility.
As an example, you can use the breaking point of the parabola predicted by the acceleration to determine when the force changes again for entries/losses. There are many other possible applications as well.
I look forward to seeing more excellent results from this indicator.
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안녕하세요 트레이더여러분.
이 지표는, 제가 이동평균선의 기울기와 가속도를 이용하여 매매를 하기 위한 지표를 개발하다가, 흥미로운 내용이라고 판단하여 만들게 되었습니다.
이 지표에 대해 간단히 설명드리겠습니다.
----하얀색 플롯에 대해----
1. 이동평균선이 진행되는 현재 시점에서 미분의 근사값을 구하고, 다시 한 번 미분의 근사값을 구해서 '가속도'를 얻습니다.
2. 가속도가 0이 되는 곳은, 곧 해당 이동평균선의 힘이 바뀌는 곳을 의미합니다.
3. 따라서, 그 당시 시점 기준으로 포물선을 그려낸다면, 가속도를 이용하여 해당 이동평균선의 포물선을 그려낼 수 있습니다. 이것은 지표의 하얀색점로서 표기됩니다.
4. 이 때, 이러한 점들은 다음의 가속도가 0이 되는 지점, 즉 포물선의 힘이 바뀌는 곳에서 다시 초기화됩니다.
5. 올라가고 있던 포물선에서의 예측치보다 이동평균선이 더 급하게 올라간다면, 더욱 급격한 상승이 예상됩니다. 이 경우, 그려지고있는 포물선이 깨질 때쯤부터 리스크 관리를 시작할 수 있습니다.
(녹색/빨간색의 선으로 실제 MA를 표현했습니다. 거슬리시면 '모습'가셔서 끄셔도 좋습니다. )
6. 추세가 변경되기 전, 즉 이동평균선의 방향이 바뀌기 전에는 가속도가 0이 되는 구간이 존재하고, 그것이 차트 위에 다음과같이 표현됩니다.
(하단의 지표는, 해당 포물선의 가속도을 나타냅니다)
----붉은색 플롯에 대해----
1. 이동평균선 값을 미분 근사값 즉, '기울기'를 구합니다.
2. 기울기가 0이 되는 곳은, 포물선이 극점이 되는 곳을 뜻합니다.
3. 따라서, 해당 시점의 가속도를 2차함수의 계수로 하여, 또한 해당 극점을 하나의 꼭지점으로 설정하여,이차함수를 그려낼 수 있습니다. 이것은 지표의 빨간색점으로서 표현됩니다.
(실제 이동평균선은 2차함수가 아니기에, 포물선이 유지된다는 가정 하에 "억지로"만들어낸 이차함수입니다)
4. 이 때, 이러한 점은 다음 극점이 0이 되는 곳에서 초기화되고 이차함수가 만들어집니다.
5. 위의 과정에서 얻은 식을 바탕으로 'offset'을 통해 미래의 이동평균선을 예측할 수 있습니다.
즉, 현재시점의 x값을 'k'라고 한다면, (k+1)을 이차함수에 대입하여 1캔들 앞의 이동평균선을 예측할 수 있습니다.
해당 예측치가 지나간 자리는, 빨간색점을 통해 보여집니다.
6. 선택한 이동평균선이 스무스할수록 극점은 덜 등장하게되고, 포물선의 위치가 맞아들어갈 가능성이 높습니다.
현재 디폴트값으로 설정된 T3의 경우, 약 20캔들 앞을 예측해도 매우 높은 정확도를 보여줍니다.
반면에, SMA와 같이 울퉁불퉁한 이동평균선은 가능한 예측치가 크지 않습니다.
(SMA 60, offset=10)
--------
매우 높은 수준의 정확도를 보여준 이동평균선은 JMA(Jurik Moving Average)입니다. 다만 이 이동평균선은 코드가 공개되지 않았기때문에, 관심있으신 분은 저의 코드를 통해 한번 확인해보시길 권장드립니다.
추가로, 제가 올린 이 지표의 코드는 이용가치가 높다고 생각합니다.
하나의 예시로서, 가속도로 예측한 포물선이 깨지는 곳을 기준으로, 힘이 다시 한 번 바뀌는 것을 이용해 진입/로스를 할 수 있습니다. 그 외에도 매우 다양한 활용이 가능합니다.
이 지표를 통해 더욱 좋은 새로운 결과물이 나오길 기대해봅니다.
Range Filter x Hull SuiteRange Filter x Hull Suite
This indicator is a hybrid of two popular indicators, with a twist; namely the Range Filter (Guikroth version) and the Hull Suite (by Insilico) .
Originally developed as a 1 minute trend following strategy and traded during the New York Session for it's typically high volume / likely trending nature, it provides entry signals based on the following logic:
For bullish entry signals:
The first bullish* candle (*defined by the Range Filter bar color logic, blue by default - which is not necessarily technically a bullish candle as defined by the OHLC values) which appears after the consolidation candles (also defined by the Range Filter bar color logic, orange by default), and where the Hull Suite moving average is also bullish.
For bearish entry signals:
The first bearish* candle (*defined by the Range Filter bar color logic, red by default - which is not necessarily technically a bearish candle as defined by the OHLC values) which appears after the consolidation candles (also defined by the Range Filter bar color logic, orange by default), and where the Hull Suite moving average is also bearish.
The indicator aims to filter out signals where possible consolidation is occurring and comes with styling options and alternative filter options such as a triple moving average trend detection method. Signals can also be filtered by a specific trading session. Standard options for the Range Filter and Hull Suite settings are also able to be customised within the settings menu.
Alerts
Various alerts are built-in, including the custom entry signals unique to this strategy.
Note : The above features listed above are accurate at the time of publishing, but may be altered in future.
Many thanks to guikroth & Insilico for sharing their open source indicators, and also to the original developer of the strategy itself for sharing it.
Trend Bands [starlord_xrp]This indicator uses multiple trendlines to determine the overall trend and trend changes. It also highlights areas of potential pullbacks to entry.
Range of a source displayed in thirdsThis indicator will take the value of any external source input and display how it has changed over time (the lookback period in settings). For the purposes of display here I'm using the WT1 line from Wavetrend with Crosses by LazyBear to provide a source input.
The highest and lowest value of the source over the lookback period are used to determine the highest and lowest point - the green and red lines at the top and bottom of the bands. This region is then mathematically split into three, such that the source (and its optional moving average line) can be defined as being in the top third, the middle or the bottom third.
Applications for this could be in risk management where you may wish to take on a larger position size when a certain indicator is in the top third, or decide that you want to enter / leave positions when the source crosses in / out of the extreme points.
Astro: Planetary Channel LinesPlanetary Channel Lines is an approach to financial astrology that involves using the positions of the planets to predict trends and patterns in the stock market. The idea behind planetary lines is that the positions of the planets in the sky at the time of a market event can significantly influence that event.
The planetary lines approach involves mapping the planets' positions onto a stock market graph, with each planet's position representing a specific line. These lines are thought to indicate areas of support and resistance, as well as potential turning points in the market.
This indicator includes geocentric/heliocentric planetary lines on the chart for up to two planets, price scaling & vertical offset, retrograde highlighting, and aspect recognition with customizable precision.
WillyCycle Oscillator&DoubleMa/ErkOzi/version 2This oscillator can be customized by adjusting the length of the Willy period, the length of Willy's EMA, and the upper and lower bands. The upper and lower bands help traders identify overbought and oversold conditions.
The WillyCycle Oscillator is a technical analysis tool used to measure the momentum of an asset and identify overbought and oversold conditions based on the price range of a specific period and calculating the percentage of the closing price in that range. The WillyCycle Oscillator consists of two main components: Willy and Willy's EMA. The Willy component is the percentage calculation of the asset's price range, and Willy's EMA is the exponential moving average of the Willy component. Willy's EMA is used to smooth out the Willy component and make it easier to identify trends.
*** When the oscillator is above the 80 level, it indicates that the asset is overbought, and when it is below the 20 level, it indicates that the asset is oversold. Traders can use these levels as a guide for buying and selling signals.
***Traders can also use the WillyCycle Oscillator to identify trend reversals. When the oscillator rises above the 50 level, it signals a potential uptrend, and when it falls below the 50 level, it signals a potential downtrend.
***I have added a smoothed line option to the WillyCycle Oscillator, which allows traders to see a more smoothed version of the oscillator. This option can be enabled by setting the 'smoothed' input to true. The default value for the smoothed line is 15.
***We have also changed the value range of the WillyCycle Oscillator from -100 to 100 to 0 to 100. This change was made to make the oscillator more user-friendly and easier to read.
In conclusion, the WillyCycle Oscillator is a versatile tool that can help traders identify potential trading opportunities and trend reversals. Traders can customize the oscillator to fit their trading style and preferences. Adding a smoothed line and changing the value range can enhance the user experience and make the oscillator easier to use.
Nadaraya-Watson OscillatorThis indicator is based on the work of @jdehorty and his amazing Nadaraya-Watson Kernel Envelope, which you can see here:
General Description
The Nadaraya-Watson Oscillator (NWO) will give the same information as the Nadaraya-Watson Envelope, but as an oscillator off the main chart, by plotting the relationship between price and the Kernel and its bands. This also means that we can now detect divergences between price and the NWO.
You can see the relationship between the two here:
You can think of this indicator as the kernel envelope version of a Bollinger Band %B. In ranging markets the bands are perfect for mean reversion trades, but in certain situations the break of one of the bands can signal the beggining of a strong trend and price will remain close to the bands for a long period and will only give small pullbacks. As with any indicator, confluence with price and other tools must be taken into account.
Main Features
As with @jdehorty 's Envelope, you can change the following settings:
Lookback Window.
Relative Weighting.
The initial bar for the regression.
ATR period for the bands.
Inner and Outer Multiples for the bands.
I also added the following:
A middle band around the Kernel to filter out false crossovers.
A Hull Moving Average to smoothen out the movements of the oscillator and give extra confirmation of turnover points.
Colors
Some special things to note regarding the coloring:
The zero line features a gradient that changes color every time the Kernel slope changes direction.
The Oscillator plot has a gradient coloring that gets stronger the closer it gets to each of the bands.
Every time the oscillator crosses over/under the outer bands the background will be highlighted.
Happy trading!
Traffic Light Signal - POSTraffic Light Signal (TLS) is simple and most easy setup to trade.
How The Traffic Light Signal Works ?
First You have to find a Green and red candle pair or red and green candle pair then mark there highest high and lowest low with the help of line tool. if High breaks go for Buy and when low breaks go Sell. Avoid Doji candle Pair to get better result.
Additonal Indicator Used :
Relative Strength Index : To find Overbought and Oversold Zones
How to Take trade with The help of TLS indicator :
The Indicator detects the Pair candle and detect whether the pair bar high or low cross over or cross under and display the signal over the chart.
if Triangle UP Shape Appears on chart , Once the high of the signal candle breaks take entry for buy side StopLoss will be low of the signal candle.
if Triangle Down Shape Appears on chart, once the low of the signal candle breaks take entry for Short side StopLoss will be low of the signal Candle.
Always Try to take profit 1:2 or as per your risk rewards.
Note :
if you are scalping then avoid first and Last Bar of day in 1 min and 3 min timeframe only
if you are Intraday Trader Use 5 Min and 15 Min max for this strategy.
if your are positional Trader use 1hr or 1 day Timeframe to trade.
No more than 3 trades to trade on this indicator.
Use Additional Indicator for Accuracy
Indicator works on Crypto , Equity , Futures , Options.
Hope you like this if any issue with this indicator ask below or message me.
Thanks and Regards,
TradingTail
God's Little FingerThe "God's Little Finger" indicator uses several technical analysis tools to provide information about the direction of the market and generate buy/sell signals. These tools include a 200-period exponential moving average (EMA), Moving Average Convergence Divergence (MACD), Bollinger Bands, and the Relative Strength Index (RSI).
EMA is used to determine if prices are trending. MACD measures the speed and momentum of the trend. Bollinger Bands are used to determine if prices are staying within a range and to measure the strength of the trend. RSI shows overbought/oversold levels and can be used to determine if the trend will continue.
The indicator generates buy/sell signals based on market conditions. A buy signal is generated when the MACD line is below zero, the price is below the lower boundary of the Bollinger Bands, the price is above the 200-period EMA, and the RSI is in oversold levels (usually below 40). A sell signal is generated when the MACD line is above zero, the price is above the upper boundary of the Bollinger Bands, the price is below the 200-period EMA, and the RSI is in overbought levels (usually above 60).
However, it should be noted that indicators can be used to predict market conditions, but they do not guarantee results and any changes or unexpected events in the market can affect predictions. Therefore, they should always be used in conjunction with other analysis methods and risk management strategies.
Traffic Lights [theEccentricTrader]█ OVERVIEW
This indicator automatically draws higher timeframe support and resistance levels using current peak and trough prices. These prices are also displayed in a table which can be repositioned and resized at the user's discretion.
█ CONCEPTS
Green and Red Candles
• A green candle is one that closes with a close price equal to or above the price it opened.
• A red candle is one that closes with a close price that is lower than the price it opened.
Swing Highs and Swing Lows
• A swing high is a green candle or series of consecutive green candles followed by a single red candle to complete the swing and form the peak.
• A swing low is a red candle or series of consecutive red candles followed by a single green candle to complete the swing and form the trough.
Peak and Trough Prices (Basic)
• The peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the preceding green candle, depending on which is higher.
• The trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the preceding red candle, depending on which is lower.
Peak and Trough Prices (Advanced)
• The advanced peak price of a complete swing high is the high price of either the red candle that completes the swing high or the high price of the highest preceding green candle high price, depending on which is higher.
• The advanced trough price of a complete swing low is the low price of either the green candle that completes the swing low or the low price of the lowest preceding red candle low price, depending on which is lower.
Historic Peaks and Troughs
The current, or most recent, peak and trough occurrences are referred to as occurrence zero. Previous peak and trough occurrences are referred to as historic and ordered numerically from right to left, with the most recent historic peak and trough occurrences being occurrence one.
Range
The range is simply the difference between the current peak and current trough prices, generally expressed in terms of points or pips.
Support and Resistance
• Support refers to a price level where the demand for an asset is strong enough to prevent the price from falling further.
• Resistance refers to a price level where the supply of an asset is strong enough to prevent the price from rising further.
Support and resistance levels are important because they can help traders identify where the price of an asset might pause or reverse its direction, offering potential entry and exit points. For example, a trader might look to buy an asset when it approaches a support level , with the expectation that the price will bounce back up. Alternatively, a trader might look to sell an asset when it approaches a resistance level , with the expectation that the price will drop back down.
It's important to note that support and resistance levels are not always relevant, and the price of an asset can also break through these levels and continue moving in the same direction.
Major Traffic Lights
Major traffic light levels are determined using monthly (red solid lines), weekly (orange solid lines) and daily (green solid lines) peak and trough prices.
Minor Traffic Lights
Minor traffic light levels are determined using 4H (red dashed lines), 1H (orange dashed lines) and 15-minute (green dashed lines) peak and trough prices.
█ FEATURES
Inputs
• Advanced Peak and Trough Price Logic
• Show Minor
• Show Major
• Extend Line Type
• Show Table
• Position
• Text Size
If the current timeframe is higher than any of the traffic light timeframes the relevant lines and table cells will automatically be hidden. As can be seen in Figure 1. below, the intraday lines and table cells will only appear if the user scales down to a low enough timeframe.
Figure 1.
█ LIMITATIONS
The green and red candle calculations are based solely on differences between open and close prices, as such I have made no attempt to account for green candles that gap lower and close below the close price of the preceding candle, or red candles that gap higher and close above the close price of the preceding candle. I can only recommend using 24-hour markets, if and where possible, as there are far fewer gaps and, generally, more data to work with. Alternatively, you can replace the scenarios with your own logic to account for the gap anomalies, if you are feeling up to the challenge.
It is also worth mentioning that the minor levels will not be displayed if the user selects a custom timeframe between 31 and 44 minutes, and between 46 and 59. All other timeframes should work as intended.
LNL Simple Hedging ToolLNL Simple Hedging Tool
Simple Hedging Tool was created specifically for swing traders who struggle with hedging. This tool helps to spot the ideal moments to put the hedges on (protection of the portfolio during "high risk" times). Simple Hedging Tool will not help you when day trading. It was designed for the daily charts. It is called simple because it is pretty much self-explanatory indicator. The candles are either blue or yellow. Meaning of the colors depend on the version you are using. This tool consist of two versions:
SPX Version:
This version was designed for indexes & overall market benchmarks. In contrast with the VIX version, the SPX version is little more sophisticated since it is based on key market internals. Blue arrows above the candles? More often than not this is signalizing that the key market internals are now approaching bearish signals which means it is the best time to hedge any bullish positions. On the contrary, the yellow arrows are the good reason to lighten up of the shorts & ease off the gas pedal on any bearish outlooks.
VIX Version:
Apart from the black swan events (big market crashes) Vix usually oscillates between the daily extremes. The VIX version is based on a simple bollinger band technique which is visualized with blue & yellow arrows. Whenever the yellow arrows & candles appear, it is good time to put the hedges on & perhaps lighten up on longs.
IMPORTANT DISCLAIMER:
The signals from this tool WILL NOT TELL YOU where to buy or sell! But rather when is a good time TO NOT buy or TO NOT sell. Once the signals appear it does not necessarily mean that the move is over & reversion willl happen immidiately. These signals can be flashing for days even weeks. They are not flashing for you to change the bias but rather tighten up your exposure in case your portfolio is mostly one sided.
Hope it helps.
VWAP Bollinger Band Crossover Breakout with ResistanceCredit to © Jesus_Salvatierra for VWAP script
This script help you find a trend in momentum stock that is about to breakout and shows resistance point. This script utilizes Bollinger bands VWAP and is good for intra day charts.
VWAP, or Volume Weighted Average Price, is a technical analysis tool used to measure the average price a security trades at during a given time period, weighted by the trading volume for each price level. It is commonly used by traders and investors to identify the true average price of a security and to assess whether they are buying or selling at a fair price.
A Bollinger Band is a technical analysis tool that uses standard deviation to measure the volatility of a security. The Bollinger Band is typically composed of three lines: the upper band, the lower band, and the middle band. The middle band is a simple moving average of the security's price, while the upper and lower bands are calculated based on the standard deviation of the security's price.
A Bollinger Band crossover occurs when the price of a security crosses above or below one of the bands. When the price crosses above the upper band, it is considered overbought, while when it crosses below the lower band, it is considered oversold. Traders often use Bollinger Band crossovers as a signal to enter or exit a position, depending on their trading strategy.
The VWAP and Bollinger Band crossover are two separate technical analysis tools that can be used in conjunction with each other. When a security's price crosses above or below the Bollinger Band, traders may look to the VWAP to confirm whether the security is trading at a fair price. If the security is trading above the VWAP, it may be overvalued, while if it is trading below the VWAP, it may be undervalued. Similarly, traders may use the Bollinger Band crossover as a signal to enter or exit a position, while also taking into account the VWAP to assess whether the price is fair.
GamCP Multi-timeframe v0.1Measures compression on different timeframes, on demand. A high compression precedes high volatilty.
v0.1 - by mufaxor
RSI with Keltner Channel (+EMA Ribbon)Note that the EMA Ribbon is not embedded into the custom RSI with KC. In the future I plan to embed it. The EMA Ribbon I use is the following:
This is my very first attempt at modifying an indicator. I basically attempted to add a Keltner Channel around RSI.
This was used as an alternative channel to the standard Bollinger Band. KC goes hand-in-hand with the EMA Ribbon. KC also helps to better pinpoint relative-overbought/oversold conditions.
In my belief, the 20-80 levels don't behave as overbought/oversold levels. An exponential chart would always be overbought. So a Keltner Channel could in theory (and in practice) give us greater understanding on chart analysis.
This custom indicator is a bodge . It has lots of extra calculations that can be removed. I post this rough indicator for the community to give feedback on how I can improve it, or perhaps give an idea to some of you. Please don't judge me, I wouldn't post it but lately some have asked me about it.
In the future I would like to embed an EMA ribbon in this RSI indicator, just like I did in the following idea.
During this period, I don't really have the time to fix this indicator to my standards. So I will leave it as is for the foreseeable future.
If you have the will and knowledge however, feel free to built upon this indicator and share it!
Tread lightly, for this is hallowed ground.
-Father Grigori
PS. In this indicator, I would replace all the moving averages with an EMA Ribbon "average".
Oliver Velez IndicatorOliver Velez is a well-known trader and educator who has developed multiple trading strategies. One of them is the 20-200sma strategy, which is a basic moving average crossover strategy. The strategy involves using two simple moving averages (SMAs) - a short-term SMA with a period of 20 and a long-term SMA with a period of 200 - on a 2-minute timeframe chart.
When the short-term SMA crosses above the long-term SMA, it signals a potential bullish trend and traders may look for opportunities to enter a long position. Conversely, when the short-term SMA crosses below the long-term SMA, it signals a potential bearish trend and traders may look for opportunities to enter a short position.
Traders using this strategy may also look for additional confirmations, such as price action signals or other technical indicators, before entering or exiting a trade. It is important to note that no trading strategy can guarantee profits, and traders should always use risk management techniques to limit potential losses.
This script is an implementation of the 2 SMA's (can also choose other types of MA's), with Elephant Bar Indicator (EBI) and the Tail Bars Indicator in TradingView.
The Elephant Bar Indicator is a technical indicator used in trading to identify potential trend reversals in the market. It is named after the large size of the bullish or bearish candlestick that it represents. The Tail Bars Indicator is a pattern recognition technique that identifies candlestick patterns with long tails or wicks.
The script starts by defining the input parameters for both indicators. For the Elephant Bar Indicator, the user inputs the lookback period and the size multiplier. For the Tail Bars Indicator, the user inputs the tail ratio and opposite wick ratio.
Next, the script calculates the moving averages of the closing price over the defined short and long periods using the Moving Average function. The script then calculates the average candle size and volume over the lookback period.
The script then identifies the Elephant Bars and Tail Bars using the input parameters and additional conditions. For Elephant Bars, the script identifies bullish and bearish bars that meet certain criteria, such as a size greater than the average candle size and volume greater than the average volume.
For Tail Bars, the script identifies bullish and bearish bars that have long tails or wicks and meet certain criteria such as opposite wick size less than or equal to the tail size multiplied by the input opposite wick ratio.
Finally, the script plots the Elephant Bar and Tail Bar signals on the chart using different colors and shapes. The script also plots the moving averages and Keltner Channels to help traders identify potential trend reversals.
It is still under development, so please, if someone has ideas to add, more than welcome
Mora's Compression IndicatorIntroducing Mora's Price Compression indicator.
One of the biggest challenges in trading strategies is to differentiate between zones in which price is consolidated (so called squeezed) and zones of price expansion. Zones of consolidation can indicate traders' indecision or the creation of order blocks, but regardless of their mechanism, most indicators behave differently in those areas as oppose to times when price is trending.
A traditional indicator of consolidation zones is the so call Squeeze, which combines Bollinger Bands and Keltner’s Channels.. although broadly used, its interpretation is not quite straightforward.
Here a new indicator is introduced to identify areas of consolidation or expansion based on current and historical volatility.
Ultimately we know the price is consolidated (current volatility) when it starts raging within a narrower band that we are use to see (Historical volatility), so the ratio of the current to historical volatility becomes a straightforward identification of consolidation zones and that is what this indicator provides.
The indicator is scaled such that values near zero mean price is compressed and values near 100 price is over-extended. The indicators is designed to allow different time-frames, while avoiding repainting.
Linear Regression Volume ProfileLinear Regression Volume Profile plots the volume profile fixated on the linear regression of the lookback period rather than statically across y = 0. This helps identify potential support and resistance inside of the price channel.
Settings
Linear Regression
Linear Regression Source: the price source in which to sample when calculating the linear regression
Length: the number of bars to sample when calculating the linear regression
Deviation: the number of standard deviations away from the linear regression line to draw the upper and lower bounds
Linear Regression
Rows: the number of rows to divide the linear regression channel into when calculating the volume profile
Show Point of Control: toggle whether or not to plot the level with highest amount of volume
Usage
Similar to the traditional Linear Regression and Volume Profile this indicator is mainly to determine levels of support and resistance. One may interpret a level with high volume (i.e. point of control) to be a potential reversal point.
Details
This indicator first calculates the linear regression of the specified lookback period and, subsequently, the upper and lower bound of the linear regression channel. It then divides this channel by the specified number of rows and sums the volume that occurs in each row. The volume profile is scaled to the min and max volume.
Advanced RSI with Volatility Bands [RedWhite]English - Introduction
This indicator uses a standard RSI of 14 periods, however, instead of using static lines of 70 and 30 to identify overbought and oversold zones, a moving average band is added, similar to the Bollinger Bands indicator.
Español - Introducción
Este indicador utiliza un RSI estándar de 14 períodos, sin embargo, en lugar de utilizar líneas estáticas de 70 y 30 para identificar las zonas de sobrecompra y sobreventa, se agrega una banda de medias móviles similar al indicador de las Bandas de Bollinger.
English - Calculation
The moving average band is constructed by calculating a moving average (default of 70 periods) on the standard RSI of 14 periods. From this average, volatility bands are applied, drawing an upper and lower band by using a standard deviation (default of 1).
Español - Cálculo
La banda de medias móviles se construye calculando una media móvil (por defecto de 70 períodos) sobre el RSI estándar de 14 períodos. A partir de esta media, se aplican bandas de volatilidad, dibujando así una banda superior e inferior mediante el uso de una desviación estándar (por defecto de 1).
English - Interpretation
When the RSI surpasses the upper band, the chart's background is shaded by default (green) to signal a possible overbought situation. On the other hand, when the RSI surpasses the lower band, the chart's background is shaded by default (red) to signal a possible oversold situation. The indicator can be customized in terms of period length, moving average values, and standard deviations. In addition, background colors can be adjusted according to the user's preferences.
Español - Interpretación
Cuando el RSI supera la banda superior, el fondo del gráfico se sombra de un color por defecto (verde) para señalar una posible situación de sobrecompra. Por otro lado, cuando el RSI supera la banda inferior, el fondo del gráfico se sombrea de un color por defecto (rojo) para señalar una posible situación de sobreventa. El indicador se puede personalizar en cuanto a la longitud de los períodos, los valores de la media móvil y las desviaciones estándar. Además, los colores del fondo se pueden ajustar según las preferencias del usuario.
English - Conclusion
By incorporating moving average bands, the indicator can provide more precise signals that are adjusted to changing market conditions. Additionally, the function of coloring the background can help traders visualize overbought and oversold zones clearly and make informed decisions accordingly. It is important to note that this indicator is not infallible and should be used in conjunction with other indicators and market analysis to make informed trading decisions.
Español - Conclusión
Al incorporar bandas de medias móviles, el indicador puede proporcionar señales más precisas ajustadas a las condiciones cambiantes del mercado. Además, la función de colorear el fondo puede ayudar a los traders a visualizar claramente las zonas de sobrecompra y sobreventa y tomar decisiones informadas en consecuencia. Es importante tener en cuenta que este indicador no es infalible y debe ser utilizado junto con otros indicadores y análisis del mercado para tomar decisiones de trading informadas.
English: For comparison purposes, the standard 14-period RSI is presented above, and below it, the standard 14-period RSI with volatility bands is shown.
Español: Con fines comparativos, se presenta el RSI estándar de 14 períodos arriba, y debajo se muestra el RSI estándar de 14 períodos con bandas de volatilidad.
English: RSI of 14 periods with a band of moving averages of 70 periods and a standard deviation with a value of 1
Español: RSI de 14 periodos con una banda de medias móviles de 70 periodos y una desviación estándar con un valor de 1
English: RSI of 14 periods with a band of moving averages of 70 periods and a standard deviation with a value of 0
Español: RSI de 14 periodos con una banda de medias móviles de 70 periodos y una desviación estándar con un valor de 0
English - Note
This indicator is inspired by Blai5's "Advanced RSI".
Español- Nota
Este indicador está inspirado en el "RSI Avanzado" de Blai5.
WillyCycle Oscillator&DoubleMa/ErkOzi/"This code creates a technical analysis indicator used to calculate and visualize the WillyCycle oscillator and double moving average indicators on the price of a financial asset. The functionality can be summarized as follows:
*Calculate the WillyCycle oscillator: The WillyCycle is an oscillator calculated based on the highest and lowest values of an asset. This oscillator is used to measure overbought or oversold conditions of the asset.
*Calculate the double moving average: The double moving average helps determine trends by calculating the short-term and long-term moving averages of asset prices.
*Use the WillyCycle oscillator and double moving average indicators together: The WillyCycle oscillator is combined with the double moving averages to provide a clearer indication of overbought and oversold conditions.
*Visualize the indicator with color coding: The indicator is color-coded to show overbought and oversold conditions. Additionally, line and background colors are changed to make the indicator more readable.
Many parameters can be adjusted on the indicator: The indicator can be customized and modified by the user. For example, the period of the WillyCycle oscillator and the lengths of the double moving averages can be adjusted."
The strategy is based on two indicators - the WillyCycle oscillator and the double moving average. The WillyCycle oscillator measures overbought and oversold conditions of the asset based on its highest and lowest values. The double moving average calculates short-term and long-term moving averages of the asset's price, which can help identify trends.
The WillyCycle oscillator and the double moving average are combined in this strategy to provide a clearer indication of overbought and oversold conditions. When the WillyCycle oscillator indicates that the asset is oversold and the short-term moving average crosses above the long-term moving average, it may signal a buy opportunity. Conversely, when the WillyCycle oscillator indicates that the asset is overbought and the short-term moving average crosses below the long-term moving average, it may signal a sell opportunity.
To make it easier for traders to read and interpret the indicator, color-coding is used to indicate overbought and oversold conditions. The user can also customize the indicator by adjusting parameters such as the period of the WillyCycle oscillator and the lengths of the double moving averages.
*ıt provides successful buy and sell signals for price reversals.
*You can open counter trades in overbought and oversold areas by following the averages.
