Liquidity Channel with B/SIndicator - Liquidity Level
Which calculates the liquidity levels based on the highest high and lowest low of the specified period. It determines the middle line, upper line, and lower line of the liquidity channel. The liquidity level is the average of the upper and lower lines, and the liquidity level distance is half of the difference between the upper and lower lines.
Here, the code determines if the conditions for overbought and oversold signals are met. It compares the current closing price with the previous opening price to determine the color of the bar (red or green). If the conditions are met and the bar color matches the expected direction (red for overbought and green for oversold), the respective signals are triggered.
The code plots buy and sell signals on the chart using shape labels. It displays "Buy" labels below the bars for buy signals and "Sell" labels above the bars for sell signals. Additionally, it colors the bars in gray. The code also sets up alert conditions to send notifications when buy or sell signals occur.
*************** Please note that this is a high-level overview of the code's functionality. The specific details and calculations may vary based on the parameters and settings provided in the code.
*************** Remember, trading involves risks, and it's important to thoroughly test any strategy and consider risk management principles before using it in live trading. It's recommended to consult with a knowledgeable financial advisor or professional trader for guidance and assistance in developing and implementing trading strategies.
***************Happy trading..
I will try to share my most commonly used strategies with you as much as possible. For this, you can follow me as a source of motivation, and if you like the indicators, you can give me a rocket to make me happy, my friends! :))
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Moving Average Zone Indicator (MAZI) - Complete!Now with adjustable settings!
Description:
The MAZI (Moving Average Zone Indicator) is a slow updating moving average calculation of key high and low points in the market, which is a unique approach to sampling moving averages.
The indicator tracks only the key candles that provide good information about price movement, which distinguishes it from other moving average indicators that record a new data point with every bar that prints.
The length of the MAZI is determined by the number of key price points to reference in the average equation, not the number of candles to look at.
We have included our very own unique addition besides the ability to adjust the settings which is called: Standard Deviation Zones
Standard Deviation Zones:
A standard deviation takes a set of values and tells you with a certain level of confidence that with those data points where a potential next data point could land.
When we take our key pivot high and key pivot low points and calculate standard deviations away from them.
We can more confidently predict where the next turn around will be.
Of course the market is always changing and this is not a sure thing but it will still help us get an idea of what places for the next pivot is reasonable.
At the same time if the price breaks above the top standard deviation lines and below the bottom ones it’s a clear sign of a significant move or change in the market
The MAZI band uses specific candle conditions to sample the highs and lows of specific candles to calculate the top and bottom moving averages.
If the close of a candle is lower than the close of the previous two candles, the high of the previous candle is recorded as a potential pivot value.
If the close of a candle is higher than the close of the previous two candles, the low of the previous candle is recorded as a potential pivot value.
These pivot values are adjustable!
The upper and lower bounds of the moving average zone are calculated as one and two standard deviations away from the moving averages, respectively.
The MAZI provides a unique perspective on price movement that can help traders identify key zones of support and resistance.
The MAZI’s equation gives traders 5 crucial points of interest: the direction of the zone, the top of the zone, the middle of the zone, the bottom of the zone, and the height of the zone.
How to use each point of interest
The Direction:
Because we don’t use every candle for input into our calculations, the direction of the indicator will not change with insignificant moves in the markets allowing you to catch when something is a pull back vs when it is a real direction change.
We have also included 3 easy to read colors allowing you to gauge when direction is going down, flat, or up, by alternating the color of the zone between red, white, and green respectively.
The Top of the Zone:
The top of the zone represents where price would be expected to not go over given the length of the bars being calculated.
So this tells you that if the zone is red and the highs are not breaking over the top of the zone, the market is behaving as expected and it should continue down.
On the other hand, if price does break over the top of the zone it signifies stronger than expected buying power and price movement.
The strongest indication of strong upward movement is when the top of the zone becomes an area of price support.
So when you see a candle come down from above the zone and turn around near the top of the zone there is likely a strong upward move coming.
Unless there is a very strong trend it is best to only take this trade the first time price breaks the top side and forms support.
On a range day this is not likely to happen multiple times in a row without price testing the bottom side in between.
The Middle of the Zone:
The middle of the zone is used as a general no trade zone.
Because price is inbetween where the expected high and low of price should be there is no good indicator of which way price will break out.
That does not mean you cannot find worthwhile patterns in the middle of the zone but as a general rule and a very good rule for beginner traders is to avoid entering a trade inside the zone all together.
The Bottom of the Zone:
The bottom of the zone is used similarly to the top of the zone.
If the zone is green and lows are not going below the bottom of the zone the shows you that sellers are not breaking below the expected price and therefore you can expect the price to continue moving up.
On the other hand if price breaks below the low part of the zone then it shows you that sell’s have pushed price below the expected low and therefore is currently under strong selling pressure.
The strongest signal for a big downward move is when the low of the zone (the expected bottom of where price should be given the length of the indicator) turns into a resistance area for price.
When a candle comes up from underneath the zone and fails to break into the zone and starts to drop again, that is the best signal for a big downward move.
Unless there is a very strong trend it is best to only take this trade the first time price breaks the bottom side and forms resistance.
On a range day this is not likely to happen multiple times in a row without price testing the top side in between.
The Size of the Zone:
The size of the zone is very important to keep in mind when gauging profit targets and stop loss levels.
When the market is forming trending patterns the height of the zone will grow.
When the market is showing signs of ranging it will start to shrink.
In other words the smaller the zone the smaller your profit target should be (and the tighter stop you should have).
A zone with a large height shows that we have much larger moves requiring wider stops and its more likely to hit larger profit targets.
Multi-Indicator Confluence Signals (MICS) - Complete!Now with adjustable settings!
Description:
The Multi-Indicator Confluence Signals (MICS) is a comprehensive trading tool designed to simplify the process of analyzing multiple technical indicators and uncluttering your screen!
You are able to select various pre-existing indicators, including Stochastic, RSI, MACD, EMA, DMI, Bollinger Band and a our very own custom signal we created using only price action calculations which will provide a streamlined view of the market, allowing traders to focus on speed, trade execution, strategy, and chart reading.
We do this by converting the input from the above popular technical indicators and generate clear long and short signals by placing green(long) and/or red(short) arrows directly on the chart.
You have the option to choose which indicators you want to show on the screen and also the option to choose long and/or short signals and it even comes with the option to adjust the settings of each respective pre-existing indicator to your liking, even our very own price action signal!
Example of the settings you can adjust + many more.
Unclutter your screen by going from this image ...(Imagine your own drawings+the above indicators):
To this! (Only long signals displayed in the picture)
Features:
Consolidated signals:
The MICS identifies bull and bearish signals from multiple indicators and presents them in a visual arrow pointing manner, enabling traders to quickly assess potential trade opportunities.
Unique price action signals:
The price action arrows in the MICS trading tool are a unique feature that distinguish it from traditional technical indicators.
These arrows are generated solely based on recent price movement and are calculated using an algorithm that analyzes the strength of recent price action.
The algorithm also considers factors such as the length and intensity of the trend, as well as any notable support or resistance levels.
When the 'Price Action Long' or 'Price Action Short' options are enabled, the MICS will display green or red arrows respectively, indicating potential bullish or bearish signals.
These arrows complement the signals generated by other pre-existing technical indicators in the MICS .
Clutter-free charting:
By removing the need to display individual indicators on the chart, the MICS helps create a cleaner workspace, promoting better focus and decision-making.
Confluence-based trading:
The MICS is not designed to be used as a standalone trading system.
Instead, traders should utilize the signals as confluences to complement their pre-existing trade ideas, leading to more robust and well-informed strategies.
Mashup of Indicators:
Each indicator has its own strengths and weaknesses, but by combining them, the MICS can provide a more comprehensive view of the market.
For example, Stochastic and RSI are commonly used to measure overbought and oversold conditions, while MACD and EMA are used to identify trend direction. DMI, on the other hand, is used to gauge the strength of a trend, while Bollinger Bands can be used to identify potential breakouts.
By combining the signals from these indicators, the MICS can provide traders with a more nuanced view of the market, allowing them to make better-informed trading decisions, quickly!
How They Work Together:
The MICS generates signals by analyzing the input from each individual indicator.
If the indicators show a bullish trend, the MICS will display this by showing the indicators you selected in the settings with green long arrows, indicating a potential long trade.
Conversely, if the indicators show a bearish trend, the MICS will display red short arrows, indicating a potential short trade.
In addition, the MICS uses a unique price action signal generated solely based on recent price movement, calculated using an algorithm that analyzes the strength of recent price action.
This price action signal is a distinguishing feature of the MICS and complements the signals generated by the pre-existing technical indicators.
What Makes the MICS Original?
What makes the MICS unique is its emphasis on providing a clutter-free charting experience.
By displaying only clear long and short signals directly on the chart based on your own selection in the settings, the MICS eliminates the need to have multiple indicators cluttering the screen, allowing traders to concentrate on making informed decisions, quickly!
This price action signal is a also unique feature that sets the MICS apart from other technical indicators.
Output7The "Output7" indicator is designed to guide traders in identifying potential buy and sell signals. This is achieved through the calculation of a custom indicator named `output7` and its derived moving averages. `output7` is defined as `c_1 - c_20 * (ohlcSq / hlSq)`. Here, `ohlcSq` stands for the square of the average of open, high, low, and close prices, while `hlSq` signifies the square of the average of high and low prices. `c_20` and `c_1` correspond to the closing price 20 periods ago and the current closing price, respectively.
**Interpreting the Indicator:**
**1. Support and Resistance**: This indicator calculates the support and resistance levels for the `output7` over a predefined lookback period. These levels are essential in the identification of potential price reversals in the market. When the `output7` line approaches or crosses these levels, it may suggest significant market shifts.
**2. Moving Averages of `output7`**: The indicator also generates short-term (5 periods by default) and long-term (10 periods by default) simple moving averages (SMAs) of the `output7` value. These SMAs can be helpful in determining market trends. When the short-term SMA lies above the long-term SMA, it indicates an upward trend. Conversely, when it falls below, it suggests a downward trend.
**3. Buy and Sell Signals**: The Output7 indicator generates two types of buy and sell signals based on the crossover of different moving averages. Yellow signals are produced when the simple moving average of close prices (7 periods by default) crosses the exponential moving average of close prices (14 periods by default). The blue signals are generated when the short-term SMA of `output7` crosses the long-term SMA of `output7`.
It is important to note that like all technical analysis tools, the Output7 indicator should not be used in isolation. Instead, it should be combined with other forms of analysis and indicators to validate its signals and minimize the likelihood of false signals. Factors such as the overall market trend, price patterns, volume, and fundamental analysis can provide additional context to the signals provided by the Output7 indicator. The interpretation of these signals should align with a trader's overall trading strategy, risk tolerance, and financial goals.
And finally. If you discover something else regarding this indicator. Please let me know in the comment section.
AggBands (v1) [qrsq]The "AggBands" indicator is a custom trading indicator designed to provide a consolidated view of the price action across multiple assets or trading pairs. It combines the price data from multiple tickers and calculates an aggregated price using user-defined weights for each ticker.
The indicator starts by defining the tickers to be included in the aggregation. You can choose from predefined configurations such as "BTC PAIRS," "CRYPTO TOTAL MARKET CAP," "TOP 5 PAIRS," "TOP 5 MEMECOINS," "SPX," "DXY," or "FANG." Each configuration includes specific tickers or indices relevant to the chosen category.
The indicator then fetches the closing, high, and low prices for each ticker and applies the user-defined weights to calculate the aggregated prices. The aggregated prices are normalized within a specified length to provide a consistent scale across different assets or pairs.
Next, the indicator calculates the midpoint, which is the average of the highest high and lowest low of the aggregated prices over a specified aggregation period.
To assess the volatility, the indicator calculates the price range and applies the Average True Range (ATR) indicator to determine the volatility value. The standard deviation is then computed using the price range and aggregation period, with an additional scaling factor applied to the volatility value.
Based on the standard deviation, the indicator generates multiple bands above and below the midpoint. By default, three standard deviation bands are calculated, but the user can choose between one and five bands. The upper and lower bands are smoothed using various moving average (MA) types, such as Simple Moving Average (SMA), Exponential Moving Average (EMA), Smoothed Moving Average (SMMA/RMA), Weighted Moving Average (WMA), Volume Weighted Moving Average (VWMA), Volume Weighted Average Price (VWAP), or Arnaud Legoux Moving Average (ALMA). The user can also adjust the length, offset, and sigma parameters for the moving averages.
The indicator can optionally smooth the midpoint, upper bands, and lower bands using a separate set of moving average parameters.
The indicator can be useful for traders and analysts who want to gain a consolidated view of price movements across multiple assets or trading pairs. It helps identify trends, volatility, and potential support and resistance levels based on the aggregated price and standard deviation bands. Traders can use this information to make informed decisions about trading strategies, risk management, and market analysis.
Multi-Divergence Buy/Sell IndicatorThe "Multi-Divergence Buy/Sell Indicator" is a technical analysis tool that combines multiple divergence signals from different indicators to identify potential buy and sell opportunities in the market. Here's a breakdown of how the indicator works and how to use it:
Input Parameters:
RSI Length: Specifies the length of the RSI (Relative Strength Index) calculation.
MACD Short Length: Specifies the short-term length for the MACD (Moving Average Convergence Divergence) calculation.
MACD Long Length: Specifies the long-term length for the MACD calculation.
MACD Signal Smoothing: Specifies the smoothing length for the MACD signal line calculation.
Stochastic Length: Specifies the length of the Stochastic oscillator calculation.
Stochastic Overbought Level: Defines the overbought level for the Stochastic oscillator.
Stochastic Oversold Level: Defines the oversold level for the Stochastic oscillator.
Calculation of Indicators:
RSI: Calculates the RSI based on the specified RSI Length.
MACD: Calculates the MACD line, signal line, and histogram based on the specified MACD parameters.
Stochastic: Calculates the Stochastic oscillator based on the specified Stochastic parameters.
Divergence Detection:
RSI Divergence: Identifies a bullish divergence when the RSI crosses above its 14-period simple moving average (SMA).
MACD Divergence: Identifies a bullish divergence when the MACD line crosses above the signal line.
Stochastic Divergence: Identifies a bullish divergence when the Stochastic crosses above its 14-period SMA.
Buy and Sell Conditions:
Buy Condition: Triggers a buy signal when all three divergences (RSI, MACD, and Stochastic) occur simultaneously.
Sell Condition: Triggers a sell signal when both RSI and MACD divergences occur, but Stochastic divergence does not occur.
Plotting Buy/Sell Signals:
The indicator plots green "Buy" labels below the price bars when the buy condition is met.
It plots red "Sell" labels above the price bars when the sell condition is met.
Usage:
The indicator can be used on any timeframe and for any trading instrument.
Look for areas where all three divergences (RSI, MACD, and Stochastic) align to generate stronger buy and sell signals.
Consider additional technical analysis and risk management strategies to validate the signals and manage your trades effectively.
Remember, no indicator guarantees profitable trades, so it's essential to use this indicator in conjunction with other tools and perform thorough analysis before making trading decisions.
Feel free to ask any questions
Jdawg TDI with Shark FinsThe "Jdawg TDI with Shark Fins" (JTDI Shark Fins) is a visually enhanced version of the Traditional Traders Dynamic Index (TDI) that focuses on aiding traders in identifying potential trading opportunities in any market.
At its core, the TDI is a momentum-based indicator that uses the Relative Strength Index (RSI) in combination with moving averages to highlight potential overbought and oversold conditions, which could signal opportunities to buy or sell. In simple terms, when an asset is overbought, it could be due for a price drop, and when it's oversold, the price might soon rise.
What makes the JTDI Shark Fins unique is the addition of color-coded "Shark Fins". These are key moments when the Fast Moving Average (Fast MA) or Slow Moving Average (Slow MA) lines move outside the upper or lower Bollinger Bands (the blue lines).
When a line moves outside these bands, it's often an indication that the price is making a strong move in that direction. However, because these moments are typically short-lived, they're referred to as "Shark Fins". In the JTDI, these periods are marked with color changes:
Fast MA turns purple when it forms a "Shark Fin". This line typically responds quicker to price changes.
Slow MA turns red when it forms a "Shark Fin". This line is slower to react to price changes, providing a more steady view of the market's momentum.
Additionally, the Slow MA will turn orange when it exceeds the overbought (above 70) or oversold (below 30) thresholds, indicating strong momentum in that direction.
How to Use:
When the Fast MA (black line) turns purple (indicating a Shark Fin), it's a warning signal to pay attention as a potential significant price move might be occurring.
If the Slow MA (green line) turns red, it indicates a more sustained move in the price direction is happening.
An orange Slow MA indicates a very strong price move in that direction.
Use these signals in conjunction with other aspects of your trading strategy to confirm potential trading opportunities.
Market Suitability:
The beauty of the JTDI Shark Fins indicator is its versatility. It can be applied to any market that can be charted and where price movements create periods of overbought or oversold conditions. This includes but is not limited to Forex, Cryptocurrencies, Equities (stocks), Commodities, and even Indices.
Remember, while this indicator can provide valuable insights, it should not be used in isolation. Always consider other factors like market news, economic indicators, and other technical analysis tools when making trading decisions.
Alpha Fractal BandsWilliams fractals are remarkable support and resistance levels used by many traders. However, it can sometimes be challenging to use them frequently and get confirmation from other oscillators and indicators. With the new "Alpha Fractal Bands", a unique blend of Williams Fractals and Bollinger Bands emerges, offering a fresh perspective. Extremes can be utilized as price reversals or for taking profits. I look forward to hearing your thoughts. Best regards... Happy trading!
An easy solution for long positions is to:
Identify a bullish trend or a potential entry point for a long position.
Set a stop-loss order to limit potential losses if the trade goes against you.
Determine a target price or take-profit level to lock in profits.
Consider using technical indicators or analysis tools to confirm the strength of the bullish trend.
Regularly monitor the trade and make necessary adjustments based on market conditions.
An easy solution for short positions could be to follow these steps:
Identify a bearish trend or a potential entry point for a short position.
Set a stop-loss order to limit potential losses if the trade goes against you.
Determine a target price or take-profit level to lock in profits.
Consider using technical indicators or analysis tools to confirm the strength of the bearish trend.
Regularly monitor the trade and make necessary adjustments based on market conditions.
Remember, it's important to conduct thorough research and analysis before entering any trade and to manage your risk effectively.
To stay updated with the content, don't forget to follow and engage with it on TV, my friends. Remember to leave comments as well :)
Anchored VWAP Pinch & Handoff, Intervals, and Signals"Anchored VWAP Pinch & Handoff, Intervals, and Signals" is an AVWAP toolbox for those who like to use various VWAP trading techniques. The indicator is currently comprised of the following three sections:
• The Pinch & Handoff section (shown above on chart) allows manually setting an upper and lower AVWAP (Pinch) along with an additional AVWAP (Handoff) by entering dates or by dragging the vertical anchor lines to the desired significant events on chart. Each of these three AVWAPs can also be set to show zones above and/or below by a percentage or standard deviation amount. The theory behind this method is that the upper and lower AVWAPs may act as dynamic support and resistance levels, effectively creating a price range or channel. As price moves between these two VWAP levels, it becomes squeezed or consolidated within that range. Further conjecture is that the longer the price remains within the range of the two anchored VWAP values, the higher the potential for an explosive breakout. Traders using this strategy may interpret the prolonged consolidation as a period of price compression, with the expectation that a significant move in either direction is likely to occur. Traders employing the AVWAP Pinch strategy might look for specific chart patterns or additional confirmation signals to enter a trade. For example, a breakout above the upper anchored VWAP level could trigger a long trade, while a breakdown below the lower anchored VWAP level could signal a short trade. Stop-loss orders and profit targets are typically set based on the trader's risk tolerance and the volatility of the asset. The third AVWAP (Handoff) is typically set after price has broken through the Pinch, and is used as a new level of support or resistance. The "Pinch & Handoff" phrase is believed to have been coined by Brian Shannon, who has popularized this method.
• The Intervals section (shown above on chart) is comprised of six periodic AVWAPs which cyclically reset. Their default settings are 1 Day, 2 Days, 1 Week, 1 Month, 1 Quarter, and 1 Year. They each may be set to desired period and when they are enabled the VWAPs whose periods are lower than the current chart timeframe are automatically hidden. For example a 1 Day AVWAP is not useful on a 1 Week chart so it would be hidden from that timeframe. When using AVWAPs from higher timeframes it may be helpful to set your chart to "Scale price chart only". This can be enabled by right clicking on your chart's price column and then left clicking "Scale price chart only" to enable that option.
• The Auto section (shown above on chart) is comprised of two automatic Anchored VWAPs. There are choices for setting anchors automatically based upon Highest Source, Highest Volume, Lowest Source, Lowest Volume, Pivot High, and Pivot Low. Because these two VWAPs work retroactively they are drawn with lines instead of plots. There is currently a limitation of 500 lines that may be drawn at any given time and the logic within this indicator uses a line for every bar of VWAP that is drawn, so if the combined length of both of these VWAPs exceeds 500 bars the earliest lines would disappear. For typical use of looking for the highest high in the last 50 bars or the last fractal this limitation should not be an issue.
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All of the plots have been titled including hidden plots that are generated for the AVWAP line drawings. All of the various types of AVWAP within the indicator should be available as choices within the Alert creation dialog if use of alerts is desired.
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NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
Trend IntensityThis indicator uses 5 & 65 EMA to gauge intensity of a trend. It is useful for determining a trends newness & strength.
To calculate Trend Intensity, we simply divide the value of the 5 EMA by 65 EMA.
The indicator uses data from previous 500 bars to automatically calculate the minimum bullish and bearish intensity value, individual to each stock.
When a stock's current intensity is above the minimum bullish intensity value determined from its historical data, the indicator will color the area between the 5 & 65 EMA as Green, indicating an environment favoring Longs.
Similarly, when the stock's current intensity is below the minimum bearish intensity value, the indicator will color the area red, indicating an environment favoring shorts.
Lastly, when the stock is not trading above or below the minimum bullish or bearish intensity respectively, the indicator will color the area yellow, indicating slowing down of momentum or intensity, a choppy sideways environment or change of a trend.
Trend Intensity Indicator is inspired & modeled on the same concept by Mr. Pradeep Bonde(Stockbee).
[DIP] Inverse BB/Bollinger highlight for barsThis indicator allows you to highlight the area outside of the Bollinger Bands in order to draw more attention to it. This is especially useful for those who only trade when we are outside of the bands.
Keep in mind this indicator only works on bars, not on candles.
BRAHMA_ALARMThe indicator is an update to the "HMA-Kahlman Trend & Trendlines" script by capissimo, which is available at the following link: The update includes the integration of an alarm function to provide additional functionality.
The indicator continues to be based on the combination of the HMA (Hull Moving Average)-SMA (Simple Moving Average) method and the Kalman filter to generate precise trading signals. The original script by capissimo serves as the foundation for the SIMSOIL indicator, which has been enhanced by the addition of the alarm function to keep traders informed of potential trading opportunities.
It is important to emphasize that indicator is developed as an update to the original script by capissimo. I would like to thank capissimo for their original work on the script, and I have added the alarm function as an extension.
RD Opening Range/Initial BalanceIntroducing the RD Opening Range/Initial Balance indicator. The opening range is the first 60 minutes of trading action for a given day (High, Mid, and Low).
The market tends to put significance in these levels, that's why we use them in our trade system.
There is also a data panel:
Today - Today's opening range value
W-Avg - This weeks average
20D CA-OH - the total number of closes above the opening range over the last 20 days (above high)
20D CA-OL - the total number of closes below the opening range over the last 20 days (below low)
* We do plan to add additional data points.
* Only the last OR has labels, we will not be adding them or an option in the future.
* Full customization in setting panel. Color of lines, background, no display of data panel and more.
How to Use
These levels act as dual magnets. They both attract price and repel price.
You use price action and rules to decipher if price is being attracted or repelled.
You will notice as you use this indicator that price respects these levels. Often when answering the 3Qs one of these levels is in play.
During the cash market these levels play a significant role in price action. Even during the Globex/Overnight session these levels are a factor.
Circle areas are examples of price reactions at OR key levels:
If you trade with the RDTS you already know how to use these levels as reaction and target zones.
For clues on which level price is being repelled or attracted I'd suggest you utilize bias and momentum indicators like the RDA.
Initial Balance vs Opening Range
Before we move on and discuss how to use this indicator I want to mention what I consider the difference between the Opening Range and the Initial Balance.
I've adopted the Opening Range verbiage for the first 60 minutes of trading even though the Opening Range is often defined as the first 15m or first 30m.
The more accurate term for the first 60m should be Initial Balance. I'm not sure exactly where this originated but I learned this term when I was heavily trading TPO-- the IB is the first 2 30m blocks of trading.
Any questions or improvements just comment below.
This script was created in by both Bhangerang (an Alpha member of the RDTS) with help by @RexDogActual as well as permission to publish.
Myfractalrange TrendHello Traders!
This is our main addition to MFR TradingView account: Myfractalrange Trend.
Many Trend signals exist out there, each trader has at some point created its own.
At Myfractalrange, we have developed a proprietary formula based on Price, Volume and Volatility.
Before going into how subscribers can use the Trend script, let't have a look at the different data point provided one by one:
- Bullish Trend: If the price of the asset is above this value, the asset is considered to be Bullish Trend. Default colour is green
- Bearish Trend : If the price of the asset is below this value, the asset is considered to be Bearish Trend. Default colour is red
- Neutral Trend: If the price of the asset is between the value of the Bullish Trend and the value of the Bearish Trend, the asset is considered to be Neutral Trend. Default colour is yellow
How does the script work?
The provided script is proprietary, so while the specific calculations and data sources cannot be disclosed, here is a broad explanation on how it works:
- It will retrieve the relevant data from the asset, could be volume, close, high, low, etc.
- The script will then check the length for the trend calculation of this specific asset and compute the Trend line
- From the value of this Trend line, we will then generate the "bullish" and "bearish" values
- The script will then plot the Bullish and Bearish values on the chart, the area between both being set as the Neutral area
How to use trend when trading?
When trading, understanding and utilising trends can be valuable for making informed trading decisions. Here are some key ways to use trends in trading:
- Trend Identification: Identifying the presence and direction of a trend is crucial
- Trend Following: One common trading strategy is trend following, which involves trading in the direction of the prevailing trend. In an uptrend, traders may look for opportunities to buy or go long, while in a downtrend, they may seek opportunities to sell or go short. Trend following strategies assume that trends are more likely to continue than reverse, and traders aim to capitalise on sustained price movements
- Trend Reversals: Identifying potential trend reversals is another approach. Traders may look for signs that a trend is losing momentum or showing signs of exhaustion. Traders may then consider taking contrarian positions or closing existing trades.
- Timing Entries and Exits: Trends can help with timing entry and exit points. Traders often aim to enter trades at favourable points within a trend, such as during pullbacks in an uptrend or rallies in a downtrend. This allows them to potentially capture favourable risk-to-reward ratios
- Risk Management: Incorporating trend analysis into risk management is crucial. Traders can set stop-loss orders or trailing stops based on the trend, aiming to protect profits or limit losses if the trend reverses. Position sizing can also be adjusted based on the strength or duration of a trend, with larger positions taken in strong, well-established trends
- Multiple Time Frame Analysis: Examining trends across different time frames can provide a broader perspective. Traders can look for alignment in trends across shorter-term and longer-term charts to gain confidence in their trading decisions. For example, a Trend on a daily chart may align with a Trend on a hourly chart, reinforcing the potential trading opportunity
The Myfractalrange Trend signal can be used for all the possibilities listed above
Here is an example of a Bullish Trend pattern: BTFD set up
Here is an example of a Bearish Trend pattern: STFR set up
Why use Trend in combination with other indicators, such as Hurst and probable Range?
Using Trend in combination with Hurst exponent and probable Range can provide traders with a more comprehensive view of market dynamics and potential trading opportunities. Here's how the three concepts can complement each other:
- Trend Analysis: Trend analysis helps identify the prevailing direction of the market. It provides insights into whether the market is in an uptrend (Bullish), downtrend (Bearish), or sideways consolidation (Neutral). Trend analysis helps traders align their positions with the dominant market direction, increasing the likelihood of successful trades
- Hurst exponent: Hurst exponent is a measure of the persistence or mean reversion characteristics of a time series. It provides insights into the strength and sustainability of price movements. Hurst momentum analysis helps traders understand whether the market is exhibiting trending behaviour or mean-reverting behaviour. It can help identify potential reversals or continuation patterns in the price action.
- Probable Range: The Range refers to the expected price range within which an asset is likely to fluctuate, in our case the MFR Ranges (normal and longer-term). It helps traders set realistic profit targets and stop-loss levels. By combining the probable range with the trend and the Hurst Exponent, traders can better gauge the potential extent of price movements and make more informed decisions regarding entry and exit points.
How to use these tools together?
- Confirmation and Confluence: Combining Trend with Hurst & Range can provide confirmation and confluence signals. For instance, when the trend analysis indicates an uptrend, Hurst confirms strong positive momentum and Range confirms the upside potential, it provides a stronger signal for potential bullish trades
- Timing Entries and Exits: The combination of trend analysis, Hurst and Range can assist in timing entry and exit points. For example, when trend analysis indicates an uptrend, traders can look for bullish signals from Hurst value and low of the MFR Range to identify potential entry points during pullbacks or periods of consolidation. Conversely, in a downtrend, bearish signals from Hurst at the top of the MFR Range can guide traders in identifying potential short-selling opportunities during corrective rallies
- Risk Management: The integration of trend analysis with Hurst and Range can also aid in risk management. Traders can adjust their stop-loss levels and profit targets based on the strength of the trend, its strength and its Range. Tighter stop-loss levels can be set when both trend analysis, Hurst value and Range are aligned, indicating a higher probability of trend continuation. Conversely, wider stop-loss levels may be used when conflicting signals or weakening trends are observed
By combining Trend analysis, Hurst exponent and MFR probable Range, traders can gain a more comprehensive understanding of the market's behaviour and make more informed trading decisions.
It's important to note that while Trend is a useful tool, it should not be relied upon solely for making trading decisions. It's recommended to use it in conjunction with other technical analysis tools and consider other factors such as market conditions, risk management, and fundamental analysis. Remember that the momentum indicator is just one tool among many, and it's important to consider other factors such as volume, momentum, volatility, and overall market conditions when making trading decisions. Additionally, using stop-loss orders and proper risk management techniques is crucial to mitigate potential losses.
We hope that you will find these explanations useful, please contact us by private message for access.
Enjoy!
DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorised. This script is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. Myfractalrange is not responsible for any losses you may incur. Please invest wisely.
Ultimate Trend ChannelThe "Ultimate Trend Channel" indicator is a comprehensive trend analysis tool that calculates and displays a series of upper and lower bands based on user-defined input lengths. It uses linear regression and standard deviation to determine these bands for each of the 21 different group lengths. The indicator then computes the averages of these upper and lower bands, as well as the average of all the bands combined.
The visualization on the chart includes the plotting of the average upper and lower bands, with the space between these bands shaded for easy visualization of the overall trend. Additionally, the average of all the bands, referred to as the "Ultimate Trend Line," is also plotted on the chart.
This indicator provides a robust way of assessing market trends and volatility over varying periods, which can be extremely useful for both short-term and long-term trading strategies.
ATR Daily BandThis indicator draws an upper and lower band for each day. It uses the Average True Range calculation (with configurable lookback) and places the band at 1ATR above and 1ATR below the daily open.
I use this indicator as a simple gauge to tell how significant price movement is, and get a feel for the daily volatility. Due to the fractal nature of price action, it can be difficult to determine if a price movement is significant while zoomed in on a single intraday chart. Using this indicator, I can tell if the price action is approaching the ATR or if it's just staying within the band.
Strategies: Useful for both mean reversion and momentum strategies. It's up to you to decide how this metric will fit into your trading strategy. I currently use this indicator to look for mean reversion setups, but that is due to the current market conditions and my personal trading style.
Scalping Strategy (5min)This indicator is designed for scalping strategies on a 5-minute timeframe. It generates signals based on two RSI crossovers and incorporates moving averages to identify trends. Additionally, a Bollinger Band is included to eliminate the need for an additional Bollinger Band on the chart.
Please note that this indicator does not guarantee 100% accurate signals and may produce false signals. It is recommended to use this indicator in conjunction with other indicators such as Stochastic, MACD, SuperTrend, or any other suitable indicators to enhance the accuracy of trading decisions.
1) Signal Generation: The indicator generates buy and sell signals based on two RSI crossovers. A buy signal is generated when the fast RSI crosses above the slow RSI, indicating potential bullish momentum. Conversely, a sell signal is generated when the fast RSI crosses below the slow RSI, suggesting potential bearish momentum.
2) To adjust the indicator to your specific chart and trading preferences, you have the flexibility to modify the RSI and moving average (MA) values. By changing the RSI values (slow RSI length and fast RSI length), you can fine-tune the sensitivity of the RSI crossovers to suit different timeframes and market conditions. Similarly, adjusting the MA values (slow MA period and fast MA period) allows you to adapt the indicator to the desired trend identification and short-term trend confirmation.
3) Pay attention to trades that are confirmed by the short-term moving average (MA) aligning with the desired direction. For buy signals, ensure that the short MA is tending upward, indicating a potential uptrend. For sell signals, confirm that the short MA is trending downward, suggesting a potential downtrend.
4) Moving Averages: The indicator uses a 200-period moving average (MA) to identify the overall trend and a short-term MA for additional confirmation.
5) Bollinger Band: The included Bollinger Band is not directly used in the indicator's calculations. However, it is provided for convenience so that users don't need to add another Bollinger Band to their chart separately.
6) Exercise caution when the short MA is below the 200-period MA but showing signs of attempting an upward move. These situations may indicate a potential reversal or consolidation, and it is advisable to avoid taking trades solely based on the 200-period MA crossover in such cases.
Remember that these guidelines are intended to provide additional insights and should be used in combination with your trading judgment and analysis.
Trend-Range-Indicator - 3hrThe Trend and Range Indicator is a tool based on median calculation and volatility analysis. It helps identify trends and ranges in price charts. This indicator highlights consolidation areas.
Only work in 3 hours timeframe
MOJO Opening Range BoxScript allows you to create a box around a time range of your choice. box turns green if price is above opening candle, red otherwise.
Linear Regression Channel (Log)The Linear Regression Channel (Log) indicator is a modified version of the Linear Regression channel available on TradingView. It is designed to be used on a logarithmic scale, providing a different perspective on price movements.
The indicator utilizes the concept of linear regression to visualize the overall price trend in a specific section of the chart. The central line represents the linear regression calculation, while the upper and lower lines indicate a certain number of standard deviations away from the central line. These bands serve as support and resistance levels, and when prices remain outside the channel for an extended period, a potential reversal may be anticipated.
I have replaced the Pearson values with trend strength levels to enhance understanding for individuals unfamiliar with Pearson correlation.
custom Bollinger bands with filters - indicator (AS)-----------Description-------------
This indicator is basically Bollinger bands with many ways to customize. It uses highest and lowest values of upper and lower band for exits. I think something is wrong with the script but cant find any mistakes – most probably smoothing. The ATR filter is implemented but is working incorrectly. In code you can also turn it into strategy but I do not recommend it for now as it is not ready yet.
So this is my first script and I am looking for any advice, ideas to improve this script, sets of parameters, markets to apply, logical mistakes in code or any ideas that you may have. Indicator was initially designed for EURUSD 5MIN but I would be interested in other ideas.
-----------SETTINGS--------------
---START - In starting settings we can choose
Line 1: what parts to use BB/DC/ATR
Line 2: what parts to plot on chart
Line 3 Whether or not apply smoothing to BB or ATR filter
Line 4 Calculate deviation for BB from price or Moving average
Line 5 Fill colors and plot other parts for debug (overlay=false)
Line 6:( for strategy) – enable Long/Short Trades
---BB and DC – here we modify Bollinger bands and Donchian
Line 1: Length and type of BB middle line and also length of DC from BB
Line 2: Length and type of BB standard deviation and multiplier
Line 3: Length and type of BB smoothing and %width for BB filter
---ATR filter – (not ready fully yet)
Line 1: type and length of ATR
Line 2: threshold and smoothing value of ATR
---DATE and SESSION
Line 1: apply custom date or session?
Line 2: session hours settings
Line 3:Custom starting date
Line 4: Custom Ending date
-----------HOW TO USE--------------
We open Long if BB width is bigger than threshold and close when upper band is no longer highest in the period set. Exact opposite with Short
DB Support Resistance Levels + Smart Higher Highs and Lower LowsDB Support Resistance Levels + Smart Higher Highs and Lower Lows
The indicator plots historic lines for high, low and close prices shown in settings as "base levels". Users can control the lookback period that is plotted along with an optional multiplier. Traders will notice that the price bounces off these historic base levels. The base levels are shown as light gray by default (customizable in the settings). Users may choose to display base levels by a combination of historic high, low and close values.
On top of the historic base levels, the indicator display higher high and lower low levels from the current bar high/low. Higher highs are shown by default in pink and lower lows by default in yellow. The user can adjust the lookback period for displaying higher highs and the optional multiplier. Only historic values higher than the current bar high are displayed filtering out (by highlighting) the remaining levels for the current bar. Users may choose to use a combination of historic open, low and close values for displaying higher highs. The user can adjust the lookback period for displaying lower lows and the optional multiplier. Only historic values lower than the current bar low are displayed filtering out (by highlighting) the remaining levels for the current bar. Users may choose to use a combination of historic open, low and close values for displaying lower low.
The indicator includes two optional filters for filtering out higher highs and lower lows to focus (highlight) the most relevant levels. The filters include KC and a simple price multiplier filter. The latter is enabled by default and recommended.
The indicator aims to provide two things; first a simple plot of historic base levels and second as the price moves to highlight the most relevant levels for the current price action. While the indicator works on all timeframes, it was tested with the weekly. Please keep in mind adjusting the timeframe may require the lookback settings to be adjusted to ensure the bars are within range.
How should I use this indicator?
Traders may use this indicator to gain a visual reference of support and resistance levels from higher periods of time with the most likely levels highlighted in pink and yellow. Replaying the indicator gives a visual show of levels in action and just how very often price action bounces from these highlighted levels.
Additional Notes
This indicator does increase the max total lines allowed which may impact performance depending on device specs. No alerts or signals for now. Perhaps coming soon...
SMI Momentum Bollinger Squeeze Signals - TradeUIMomentum Bollinger Squeeze Signals - TradeUI
The Squeeze Momentum Indicator (SMI) uses the principles of the Squeeze Indicator, which is a volatility indicator, and combines them with a momentum calculation to provide a more comprehensive view of the market.
The original Squeeze Indicator uses the relationship between the Bollinger Bands and Keltner Channels to identify periods of low volatility, known as "Squeezes", and potential breakout points. The SMI takes this one step further by adding a momentum calculation, making it a more dynamic tool for trading.
The momentum calculation is based on the rate of change of the asset's price. When the price increases rapidly, it signifies positive momentum, and when the price decreases rapidly, it signifies negative momentum.
