BEST Ultimate Engulfing ScreenerHello traders
Continuing deeper and stronger with the screeners serie. I keep getting requests private messages and requests saying that screeners aren't possible with TradingView.
My answer is always... "Reallyyy ??" (I never find a better answer than that...)
I'll publish a few screeners just for everyone to understand what can be done with Pinescript. We don't have to wait for TradingView to allow screener based on custom indicator - we can build our own ^^
I - What is an engulfing pattern
Let's start with a screener to check for a very famous candlestick pattern called engulfing
Engulfing candles tend to signal a reversal of the current trend in the market. This specific pattern involves two candles with the latter candle ‘engulfing’ the entire body of the candle before it.
The engulfing candle can be bullish or bearish depending on where it forms in relation to the existing trend
Source and more info here
These engulfing candles indicate a strong shift in direction, and when combined with observation of the price-trending direction that precedes it, this shift creates the opportunity for a trading strategy.
II - How did I set the screener
I added an optional filter being Price vs SMA. The idea is to select only the engulfing whenever the price also breaks an SMA - this usually translates a stronger move - but could sometimes give the signal too late (#meh #trading #ain't #easy)
The visual signals are as follow:
- square: whenever the engine detects an engulfing and an SMA breakout
- triangle: the engine only detects an engulfing
- dash: none of the above
Then the colors are:
- orange when bullish
- yellow when bearish
- aqua/dash when none of the above
Cool Hacks
"But sir... what can we do with only 5 instruments for a screener?" I agree not much but...
even if I allow only 5 instruments per indicator - nothing prevents you from adding multiple times the same indicator and changing the selected instruments for each. I also show why the SPX500 gave a yellow triangle (bearish engulfing) and how to match it with the screener.
=> imgur.com
Wishing you all the BEST trading
Dave
Анализ свечей
Bull Bear 180 by Oliver VelezThis script detects an event created by Oliver Velez is called Bull / Bear 180, in the following images the event is detailed:
- The size of the control bar can be set compared to a number of previous bars
- The minimum % of the control bar body can be set
- You can filter by trend
- Possibility of seeing fast and slow media with direction detection and color change
- Various graphic settings
- Event alerts
To enjoy!
A thumbs up if you like me!
The Multi-day Central Pivot RangeThe indicator is a Multi-day CPR.
It shows CPR range as per yesterday's HLC and also CPR range for last n number of trading sessions.
For example: If you mention the value as two in Multi-day CPR (blue color) then it calculates the CPR using HLC of the last two trading sessions.
Also, the daily CPR is designed in such a way to highlight Virgin CPR (purple color) separately from the normal CPR(fuchsia color) .
Candles (acronyms)Same script as "Candles" by TraderMentality but with acronyms for candle shape names.
The Golden PivotsThe Golden Pivots indicator is a combination of the following:
1. Central Pivot Range
2. Floor Pivots
3. Camarilla Pivots
4. Monthly, Weekly, Daily Highs and lows
5. Candlestick Setups
All the pivot calculations are based on Secret of Pivot Boss book by Frank Ochoa.
One can also view tomorrow's central pivot range by today end of the day.
NR4 / NR7 + Inside BarIndicator Script for identifying Narrow Range 4 / 7 + Inside Bar
It also helps to check whether NR4 / NR7 breakout trading has been profitable or not in the past in a particular instrument.
It has helped me to select profitable scripts and avoid losing ones. Can be used for anytime frame.
SIGNAL
NR4 == Narrowest range of 4 periods + signal day is an inside bar
NR4 & NR7 == Narrowest range of 7 periods + signal day is an inside bar
SIGNAL "PROFIT" -
Prior day was NR4 / NR7 and next day price broke out of prior day range in 1 direction and closed in the direction of breakout away from breakout price, resulting in a profit trade.
SIGNAL "LOSS" -
Prior day was NR4 / NR7 and next day price broke out of prior day range and returned back to close inside the narrow zone OR went in opposite direction after the initial breakout, resulting in a loss trade.
Pinbar (30-50 Rule)My first script to identify pin bars with a predefined rules, any feedbacks are welcome.
Rules
Bullish Candle
1. Body of the candle should be above the 50% of the day's price range
AND
2. Either the open or the close should be above the 30% of the day's price range
if both the above conditions are met then a bullish arrow is produced with "B".
Bearish Candle
1. Body of the candle should be below the 50% of the day's price range
AND
2. Either the open or the close should be below the 30% of the day's price range
if both the above conditions are met then a bearish arrow is produced with "S".
Thanks
Hope this indicator helps you identify trading entries.
Experimental Entry Interface (Buy Arrows with TP & SL)This script provides high probability entry points and includes Take Profit and Stop Loss targets.
It attempts to predict when the market conditions are set to move up, and prints long positions.
In addition to Long Entry Arrows, it will print Take Profit / Stop Loss targets.
This indicator is highly adjustable. Hence the name 'Experimental' in the title. Experiment with it to find the results you want.
Designed for use on the 1H timeframe in Forex, but could possibly be useful elsewhere. Do your own testing.
This indicator can repaint. It is best used with alerts set for once per bar close, so that your alerts do not repaint and your trades are solid.
Not ever signal is a winner. Backtest thoroughly. Adjust accordingly.
Arrows
Four sets of colored arrows are included.
💵 💶 Green and Blue Entry Arrows are formed when the market is in an uptrend, and has a momentary pullback.
💴 💷 Yellow and Purple Entry Arrows are formed when the market is just starting to recover from being severely oversold.
Backtest Mode
Turn on Backtest Mode to easily see if an entry ended up as a winner or loser. A Take Profit and Stop Loss line will be drawn to show results.
Take Profit & Stop Loss Targets
You have two options for this.
Price will show you where your TP/SL exits should be placed. These values will show up under the arrow, based on your Risk/Reward ratio.
Pips are much more simple, and will only show you the market entry point and how many pips up/down to place your SL/TP. Warning: This is fixed at a 1:1 RRR .
Risk/Reward Adjustment
Each entry arrow color allows custom risk/reward ratio adjustment.
Dollar Amounts Displayed
Change your account value and leverage to see how much you would have won on each trade.
How to trade with it?
(Forex, 1H) Open the settings, and turn on all the arrow entries. Turn on Backtest mode to see how past trades would have played out. Turn on TakeProfit/StopLoss Targets to see where to set your targets, for each arrow. Set an alert to notify you once per candle close when there is an Entry. Trade happy!
Bill Williams Alligators are also included, if you want. Not necessary though. Some of the calculations depend on them for trend direction analysis.
Real Candles Heikin Ashi (HA) Candle functionsThis script plots both real and HA candles regardless or which are used on the chart in TV settings.
(and has the functions for you to use.)
Lots of people seem to misunderstand backtesting (or scam people) based on HA candles.
Backtesting with HA candles leads to impossible trades. ALWAYS backtest with real candles.
That doesn't mean you might not want to look at HA candle values to make trading decisions.
Add the code below to calculate HA candles from real and use that in your HA trading algo,
but test it on real charts.
Kay-Rules: Candlestick PatternsThis indicator will mark 5 different candlestick patterns:
(1) bullish & bearish engulfing
(2) hammer & shooting star doji
(3) dragonfly & gravestone doji
(4) morning & evening star doji
(5) bottom & top tweezer
You may follow candlestick trading strategy by Rayner Teo here
Support and Resistance plotterThe script uses high/low/higher high/lower low for Support and Resistance identification but takes into account only pivots with wick making low/high opposite to candle body. Such candles point to hard market swings into during candle timeframe.
Price usually come bake to such levels and make double top/bottom, divergences on different osc or starts a new trend if this level is broken.
If Support lvl and Resistance lvl meets the movement of price in the direction from this combined lvl is much accelerated.
examples
intraday trading perioddisplay the intraday trading period (08:30 - 15:00) on chart with high transparent white background.
you can edit the time period by yourself in the pine editor mode.
PriceScalperThis is a simple script that will visually show where buy and sell points occur based upon configurable price action. I wrote this purposefully to evaluate stablecoins and other narrow or fixed ranged markets where algorythms don't generally do well.
Putple triangles, pointing up, are buy signals.
Purple triangles, pointing down are sell signals
Alert conditions of BUY ASSET and SELL ASSET are provided for convience.
3rd High Low This is simple script to mark when higher high (or lower low) is made on continuously third day.
There likelihood of short term reversal next day. As usual, it is just likelihood and not certainty.
Inside Bar Visualizer PineV4I didn't find a study for Inside bar as I wanted. Therefore I wrote a one with PineV4. This may help you to see inside bars.
It can recalculate and works with either (opens-closes) or (highs-lows)
Cheers! :)
Custom position sizerThis is a simple script to aid with determining position size.
Inputs are the intended entry price, desired risk (expressed as % of account at risk), account value, and leverage factor.
To use the script;
1. Identify and update the entry price (yellow line on the chart)
2. Update with desired risk
3. Update with account size
4. Adjust the leverage value until the stop loss (red line on chart for long positions, green line for short positions) reaches the desired value/location on the chart
The label will then update to show the required position size for the trade.
Heiken-Ashi CandlesSimple script to view Heiken-Ashi candles below a normal candles chart.
Could also be useful for using HA calcs in strategy scripts on normal candles chart for proper backtesting.
I adapted this to v4 from original v2 script by @samtsui. If you like please remember to give him a Thumbs Up for his original version! ->
Heiken Ashi BF Heiken Ashi candles help us to identify a trend.
This strategy simply enters a long when the Heiken Ashi candles turn green and a short when they turn red.
Because of the way BTC price moves in medium term trends, this simple strategy seems effective.
There is a rate of change function applied to avoid some of the choppy sideways action (thanks again to kiasaki for the code)
There is a 2% fixed stop loss applied and an optional take-profit setting. You can change both in the settings.
As you can see from the code, this strategy does not enter trades based on the Heiken Ashi closes, rather the actual price close. This is an important distinction since the HA closes are based on an average of the OHLC values so attempting to enter at that price may not always be possible. There are some "strategies" that use this information to try and con people by appearing to have awesome entries that are actually not attainable in all cases.
Green = Long
Red = Short
White = No trade
Candle Patterns AlertCandlestick pattern alerts for strategies "Candle Patterns Strategy" and "Candle Patterns Strategy - 2".
In order not to receive unnecessary signals, in the "Manage alerts" option should be selected "Once per bar close".
Calendar Spread - OldinvestorSimply choose what two securities (symbols) you want to compare. The study will subtract Open, High, Low, and Close of second input from the first. You may also move the plot line wherever you choose. It may be necessary to move the plot line in order for some charts to look right.
