Daytrading ES Wick Length StrategyThis Pine Script strategy calculates the combined length of upper and lower wicks of candlesticks and uses a customizable moving average (MA) to identify potential long entry points. The strategy compares the total wick length to the MA with an added offset. If the wick length exceeds the offset-adjusted MA, the strategy enters a long position. The position is automatically closed after a user-defined holding period.
Key Features:
1. Calculates the sum of upper and lower wicks for each candlestick.
2. Offers four types of moving averages (SMA, EMA, WMA, VWMA) for analysis.
3. Allows the user to set a customizable MA length and an offset to shift the MA.
4. Automatically exits positions after a specified number of bars.
5. Visualizes the wick length as a histogram and the offset-adjusted MA as a line.
References:
• Candlestick wick analysis: Nison, S. (1991). Japanese Candlestick Charting Techniques.
• Moving averages: Brock, W., Lakonishok, J., & LeBaron, B. (1992). “Simple Technical Trading Rules and the Stochastic Properties of Stock Returns”. Journal of Finance.
This strategy is suitable for identifying candlesticks with significant volatility and long wicks, which can indicate potential trend reversals or continuations.
Графические паттерны
Swing & Day Trading Strategy dddddThis TradingView Pine Script is designed for swing and day trading, incorporating multiple technical indicators and tools to enhance decision-making. It calculates and plots exponential moving averages (EMAs) for 5, 9, 21, 50, and 200 periods to identify trends and crossovers. The Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) provide momentum and overbought/oversold signals. The script dynamically identifies and marks support and resistance levels based on recent highs and lows, while also detecting and labeling key candlestick patterns such as bullish and bearish engulfing, doji, and hammer candles. Bullish and bearish signals are highlighted on the chart with green and red backgrounds, respectively, and alerts are generated to notify traders of these conditions. All visualizations, including EMAs, support/resistance lines, and candlestick labels, are overlaid directly on the stock chart for easy interpretation. This comprehensive approach assists traders in spotting potential trading opportunities effectively.
Parabolic SAR This script provides an enhanced implementation of the Parabolic SAR (Stop and Reverse) indicator, a popular tool for identifying potential trend reversals in financial markets. The script incorporates additional features for improved usability and trading decision-making:
Key Features:
Customizable Parameters:
Initial Acceleration Factor: Start value for the SAR calculation.
Increment: Step value that increases the SAR during a trend.
Maximum Acceleration Factor: Cap for the SAR to prevent over-adjustment.
Buy & Sell Signals:
Buy Signal: Triggered when the price crosses above the SAR.
Sell Signal: Triggered when the price crosses below the SAR.
Signals are displayed as visually intuitive labels ("Buy" and "Sell") on the chart.
Alerts Integration:
Configurable alerts for buy and sell signals, allowing users to stay informed without actively monitoring the chart.
Dynamic Candle Coloring:
Candlesticks are dynamically colored based on the most recent signal:
Green: Buy signal (bullish trend).
Red: Sell signal (bearish trend).
Elegant SAR Plot:
The SAR is plotted as cross-style markers with a visually appealing magenta color.
How to Use:
Adjust the Initial Acceleration Factor, Increment, and Maximum Acceleration Factor in the input settings to match your trading style.
Enable alerts to receive notifications when buy or sell signals are generated.
Use the colored candlesticks as an additional confirmation tool to visualize market trends directly on the chart.
Up Gap Strategy with DelayThis strategy, titled “Up Gap Strategy with Delay,” is based on identifying up gaps in the price action of an asset. A gap is defined as the percentage difference between the current bar’s open price and the previous bar’s close price. The strategy triggers a long position if the gap exceeds a user-defined threshold and includes a delay period before entering the position. After entering, the position is held for a set number of periods before being closed.
Key Features:
1. Gap Threshold: The strategy defines an up gap when the gap size exceeds a specified threshold (in percentage terms). The gap threshold is an input parameter that allows customization based on the user’s preference.
2. Delay Period: After the gap occurs, the strategy waits for a delay period before initiating a long position. This delay can help mitigate any short-term volatility that might occur immediately after the gap.
3. Holding Period: Once the position is entered, it is held for a user-defined number of periods (holdingPeriods). This is to capture the potential post-gap trend continuation, as gaps often indicate strong directional momentum.
4. Gap Plotting: The strategy visually plots up gaps on the chart by placing a green label beneath the bar where the gap condition is met. Additionally, the background color turns green to highlight up-gap occurrences.
5. Exit Condition: The position is exited after the defined holding period. The strategy ensures that the position is closed after this time, regardless of whether the price is in profit or loss.
Scientific Background:
The gap theory has been widely studied in financial literature and is based on the premise that gaps in price often represent areas of significant support or resistance. According to research by Kaufman (2002), gaps in price action can be indicators of future price direction, particularly when they occur after a period of consolidation or a trend reversal. Moreover, Gaps and their Implications in Technical Analysis (Murphy, 1999) highlights that gaps can reflect imbalances between supply and demand, leading to high momentum and potential price continuation or reversal.
In trading strategies, utilizing gaps with specific conditions, such as delay and holding periods, can enhance the ability to capture significant price moves. The strategy’s delay period helps avoid potential market noise immediately after the gap, while the holding period seeks to capitalize on the price continuation that often follows gap formation.
This methodology aligns with momentum-based strategies, which rely on the persistence of trends in financial markets. Several studies, including Jegadeesh & Titman (1993), have documented the existence of momentum effects in stock prices, where past price movements can be predictive of future returns.
Conclusion:
This strategy incorporates gap detection and momentum principles, supported by empirical research in technical analysis, to attempt to capitalize on price movements following significant gaps. By waiting for a delay period and holding the position for a specified time, it aims to mitigate the risk associated with early volatility while maximizing the potential for sustained price moves.
LevelUp^ Power Trend ScreenerScreen for symbols in a Power Trend using the Pine Screener. This screener supports all equity types from stocks to ETFs to crypto.
When a Power Trend is active, there is a stronger than usual uptrend underway. The concept of a Power Trend was created by Investor's Business Daily to mimic the trading style of IBD's Founder and legendary trader, William O'Neil.
🔹 What Starts A Power Trend?
✓ Low is above the 21-day EMA for at least 10 days.
✓ 21-day EMA is above the 50-day SMA for at least five days.
✓ 50-day SMA is in an uptrend.
✓ Close up for the day.
🔹 What Ends A Power Trend?
✓ 21-day EMA crosses under 50-day SMA.
✓ Close 10% below recent high and below the 50-day SMA.
🔹 Screening Features - Setting Your Search Criteria
There are various search options that can be customized to meet your preferences.
▪ In A Power Trend
To cast the widest net, select only this option and all stocks in a Power Trend will be returned.
▪ Power Trend Started
This option will search for symbols that began a Power Trend on the most recent daily bar.
▪ Power Trend Ended
This option will search for symbols where there was an active Power Trend, however, it ended on the most recent daily bar.
▪ Days In A Power Trend
This option can be helpful if you would like to find stocks that recently entered a Power Trend, for example, stocks that have been in a Power Trend for less than 5 days. Another use would be to search for stocks where the Power Trend has been active for a longer period of time, for instance, over 50 days.
▪ 1 Week % Change
With this option you can search for stocks that are up/down a specific percentage over the past week. For example, search for stocks in a Power Trend that are up 5% or more in the past week.
▪ 1 Month % Change
Similar to the above, narrow the search to percent changes based on monthly data. For example, return stocks in a Power Trend that are down 10% or more in the past month.
▪ Limit Symbol Types
If you have a watchlist that has multiple symbol types, for example stocks and crypto, you can set this option to limit the search to one or more symbol types. You can configure this option by clicking the drop-down to the right of the indicator name and selecting Settings.
🔹 Installation And Usage
▪ Mark this indicator as a Favorite.
▪ Use the Pine Screener to search for Power Trends.
▪ Save the search results to a watchlist.
▪ View the watchlist in TradingView.
🔹 Power Trend Indicator
This screener is designed to be used along with the Power Trend indicator to view Power Trends on your chart.
🔹 Important Notes
▪ This indicator is for screening, there is no visible output on the chart.
▪ Once you mark this screener as a Favorite, you can remove it from your chart.
▪ The Power Trend concept as defined by Investor's Business Daily is based on moving averages on the daily timeframe. Given this requirement, this screener is also limited to searching the same timeframe.
Nimu Market on DemandNimu Market On Demand is an innovative tool designed to provide a visual representation of market demand levels on a scale of 1 to 100. This scale is displayed at specific intervals , making it easy for users to understand market demand fluctuations in real time.
To enhance analysis, Nimu Market On Demand also incorporates the Relative Strength Index (RSI) with key thresholds at . RSI is a widely-used technical indicator that measures market strength and momentum, offering insights into overbought (excessive buying) or oversold (excessive selling) conditions.
The combination of the Demand graph and RSI enables users to:
Identify the right time to buy when the RSI falls below 30, signaling an oversold condition.
Determine the optimal time to sell when the RSI rises above 70, indicating an overbought condition.
With an integrated visualization, users can effortlessly observe demand patterns and combine them with RSI signals to make smarter and more strategic trading decisions. This tool is designed to help traders and investors maximize opportunities in a dynamic market environment.
Edufx AMD~Accumulation, Manipulation, DistributionEdufx AMD Indicator
This indicator visualizes the market cycles using distinct phases: Accumulation, Manipulation, Distribution, and Reversal. It is designed to assist traders in identifying potential entry points and understanding price behavior during these phases.
Key Features:
1. Phases and Logic:
-Accumulation Phase: Highlights the price range where market accumulation occurs.
-Manipulation Phase:
- If the price sweeps below the accumulation low, it signals a potential "Buy Zone."
- If the price sweeps above the accumulation high, it signals a potential "Sell Zone."
-Distribution Phase: Highlights where price is expected to expand and establish trends.
-Reversal Phase: Marks areas where the price may either continue or reverse.
2. Weekly and Daily Cycles:
- Toggle the visibility of Weekly Cycles and Daily Cycles independently through the settings.
- These cycles are predefined with precise timings for each phase, based on your selected on UTC-5 timezone.
3. Customizable Appearance:
- Adjust the colors for each phase directly in the settings to suit your preferences.
- The indicator uses semi-transparent boxes to represent the phases, allowing easy visualization without obstructing the chart.
4. Static Boxes:
- Boxes representing the phases are drawn only once for the visible chart range and do not dynamically delete, ensuring important consistent reference points.
ML Trading Bot with Advanced FilteringOverview
The Enhanced ML Trading Bot is a sophisticated trading strategy designed to leverage multiple technical filters—ranging from GMAs (Geometric Moving Averages) and ATR-based volatility checks, to volume thresholds, choppiness index, and even real-world event scoring—to pinpoint optimal entry and exit points. By combining advanced technical signals with external event awareness, this script aims to identify high-probability trades while filtering out low-liquidity and choppy market conditions.
Key Features
1. Dual GMAs (Geometric Moving Averages)
Long & Short Calculation
Employs two separate GMAs (long vs. short) derived from the log of price data, revealing market trends with enhanced smoothness.
Directional Bias
Confirms uptrends by ensuring the “long” GMA is above the “short” GMA, and downtrends by the reverse, helping traders stay aligned with prevailing market momentum.
2. Hugging Filter for Entry Confirmation
Precision Entry Check
Uses a “hugging threshold” to assess how closely recent prices have “hugged” the GMA or an entry price, indicating potential breakouts or reversals.
Adaptive Window
Dynamically adjusts around the entry price with a user-defined percentage window, filtering out half-hearted price tests.
3. Volatility & Risk Management
ATR Multipliers
Incorporates an Average True Range–based “ATR Multiplier” to ensure entries happen in normal or beneficial volatility conditions (avoiding noise and extreme swings).
Stop-Loss & Take-Profit
Auto-sets protective exit parameters based on the entry price, refined by ATR or hugging conditions.
4. Volume & Choppiness Index (CI) Filters
Volume Threshold
Checks that daily or recent volume meets a minimum requirement, reducing trades in low-liquidity conditions.
Choppiness Index
Gauges whether the market is ranging or trending. Avoids whipsaw trades by restricting entries if the market is extremely choppy or too trendless.
5. Advanced Time-Based Filtering
Session Hours
Allows traders to specify exact UTC start/end hours for trading, mitigating overnight or low-volume sessions.
News-Driven Event Scoring
Dynamically incorporates upcoming BTC halving dates, Fed meetings, and election cycles—along with a user-defined sentiment input—adding a real-world fundamental dimension to a purely technical system.
6. Overtrading Prevention
Minimum Bar Gap
Ensures a set number of bars between consecutive trades, preventing high-frequency whipsaws and preserving capital.
How the Strategy Works
Geometric Moving Averages
The script calculates two GMAs (long and short) from logged prices, helping identify trend direction and potential reversals.
Hugging & ATR-Based Validation
The hugging filter checks how closely recent price bars have stayed within a specified band around the entry price.
The ATR multiplier then confirms that current volatility conditions are suitable for a reliable trade.
Volume and CI Screening
Volume Threshold ensures there is sufficient liquidity to avoid slippage.
Choppiness Index confirms the market is either trending or shows enough directional bias.
Time & Event Constraints
Trades are only triggered within defined session hours for optimal market participation.
Event Scoring can skew the strategy to be bullish or bearish depending on upcoming major events (BTC halving, Fed meetings, etc.).
Entry/Exit Logic
Long Trades: Triggered when the long GMA > short GMA, price is below the long GMA, and hugging/ATR checks pass, etc.
Short Trades: Triggered when short GMA > long GMA, price is above the short GMA, and hugging/ATR checks pass, etc.
Stop-Loss & Take-Profit: Automatically set around the entry price, aiming for positive risk-reward scenarios.
Setup and Configuration
Add the Strategy
Apply the Enhanced ML Trading Bot to your chart from the TradingView Indicators/Strategies panel.
Select Symbol & Timeframe
Works well on liquid crypto pairs (e.g., ETH/USDT).
Its logic can apply to various timeframes; many traders prefer 1-minute for frequent signals.
Adjust Inputs
Fine-tune parameters such as GMA lengths, ATR multipliers, volume thresholds, session hours, and event sentiment to match your personal trading style and risk tolerance.
Backtesting Recommendations
Extended Backtest Window
To gather enough trades for meaningful statistics, backtest at least 3 months of data—particularly if you’re on lower timeframes like 1-minute.
Statistical Reliability
Aim for 100+ closed trades in your backtest to better gauge win rate, drawdowns, and net profit.
By combining geometric moving averages, hugging filters, volume/choppiness checks, and real-world event weighting, this strategy seeks to capitalize on short-term price swings while maintaining disciplined risk management.
SMA Trend Spectrum [InvestorUnknown]The SMA Trend Spectrum indicator is designed to visually represent market trends and momentum by using a series of Simple Moving Averages (SMAs) to create a color-coded spectrum or heatmap. This tool helps traders identify the strength and direction of market trends across various time frames within one chart.
Functionality:
SMA Calculation: The indicator calculates multiple SMAs starting from a user-defined base period (Starting Period) and increasing by a specified increment (Period Increment). This creates a sequence of moving averages that span from short-term to long-term perspectives.
Trend Analysis: Each segment of the spectrum compares three SMAs to determine the market's trend strength: Bullish (color-coded green) when the current price is above all three SMAs. Neutral (color-coded purple) when the price is above some but not all SMAs. Bearish (color-coded red) when the price is below all three SMAs.
f_col(x1, x2, x3) =>
min = ta.sma(src, x1)
mid = ta.sma(src, x2)
max = ta.sma(src, x3)
c = src > min and src > mid and src > max ? bull : src > min or src > mid or src > max ? ncol : bear
Heatmap Visualization: The indicator plots these trends as a vertical spectrum where each row represents a different set of SMAs, forming a heatmap-like display. The color of each segment in the heatmap directly correlates with market conditions, providing an intuitive view of market sentiment.
Signal Smoothing: Users can choose to smooth the trend signal using either a Simple Moving Average (SMA), Exponential Moving Average (EMA), or leave it as raw data (Signal Smoothing). The length of smoothing can be adjusted (Smoothing Length). The signal is displayed in a scaled way to automatically adjust for the best visual experience, ensuring that the trend is clear and easily interpretable across different chart scales and time frames
Additional Features:
Plot Signal: Optionally plots a line representing the average trend across all calculated SMAs. This line helps in identifying the overall market direction based on the spectrum data.
Bar Coloring: Bars on the chart can be colored according to the average trend strength, providing a quick visual cue of market conditions.
Usage:
Trend Identification: Use the heatmap to quickly assess if the market is trending strongly in one direction or if it's in a consolidation phase.
Entry/Exit Points: Look for shifts in color patterns to anticipate potential trend changes or confirmations for entry or exit points.
Momentum Analysis: The gradient from bearish to bullish across the spectrum can be used to gauge momentum and potentially forecast future price movements.
Notes:
The effectiveness of this indicator can vary based on market conditions, asset volatility, and the chosen SMA periods and increments.
It's advisable to combine this tool with other technical indicators or fundamental analysis for more robust trading decisions.
Disclaimer: Past performance does not guarantee future results. Always use this indicator as part of a broader trading strategy.
Hezy Levels {Darkoexe}This indicator plots area's of hesitation as price levels on the chart or at least perceived areas of hesitation. I call them "hezy levels". Area's of hesitation are defined as being price levels where price usually has trouble displacing through. Either price will displace through them with hesitation or price will reject off that level.
Each hezy level starts with an attribute "chance" when they are first formed that has the value 3. If price breaks clean through a hezy level, the hezy levels integrity will decrease which will decrement chance by 1. If price rejects off a hezy level, the hezy levels integrity will increase which will increment chance by 1. All hezy levels start orange. If chance reaches a value of 5, it's corresponding hezy level will be changed to blue, if chance reaches a value of 1 its corresponding hezy level will be changed to pink, and if chance reaches a value of 0, the hezy level will be deleted with all its attributes.
Creating a hezy level:
After a candle close, if the script detects a clean rejection at a price point it will search up to 5000 bars back for the most recent area of rejection that happened at that same relative price point. If the script does find rejection at that price point, then the script will ensure that the potential hezy level is valid between the past rejecting price point and the current rejecting price point. If it is valid, the script then ensures the hezy level does not already exist at the relative specified price point, if it does no hezy level will be added. If it does not already exist, if there's a hezy level close to the price point, a new hezy level will be created between the price point and the hezy level and the upper, lower or both hezy level will be deleted.
Factors:
ATR same price factor is the range from a hezy level that is considered the same price level. The factor is multiplied with the ATR to determine the range.
ATR same hezy factor is the range from a hezy level that is considered the same hezy level. This means if there's another hezy level in that range, they are considered the same hezy level and will be merged. The factor is multiplied with the ATR to determine the range.
ATR same break hezy factor is the range from a hezy level where if the close of a candle and the open of a candle are outside the range, then the hezy level will have been considered broken. The factor is multiplied with the ATR to determine the range.
Hammer Ratio:
This indicator considers hammers/shooting stars for hesitation, so if one of these types of candles form near a hezy level, that hezy levels integrity may increase. The ratio is based on the size of the body compared to the entire candle top to bottom. If the body is entirely contained on one side of the candle with a margin of error of the ratio, then that candle will be considered a hammer or shooting star.
BARTU V1 MACD-RSI//@version=6
indicator('MACD ve RSI', overlay = false)
// MACD hesaplama
= ta.macd(close, 12, 26, 9)
macdHist = macdLine - signalLine
// RSI hesaplama
rsiLength = 14
rsiValue = ta.rsi(close, rsiLength)
// MACD çizimleri
hline(0, 'Sıfır Çizgisi', color = color.gray)
plot(macdLine, color = color.blue, title = 'MACD Hattı')
plot(signalLine, color = color.red, title = 'Sinyal Hattı')
plot(macdHist, color = color.green, style = plot.style_histogram, title = 'MACD Histogramı')
// RSI çizimleri
rsiOverbought = 70
rsiOversold = 30
hline(rsiOverbought, 'Aşırı Alım', color = color.red)
hline(rsiOversold, 'Aşırı Satım', color = color.green)
plot(rsiValue, color = color.orange, title = 'RSI')
// Arka Plan Renkleri
bgcolor(rsiValue > rsiOverbought ? color.new(color.red, 90) : na)
bgcolor(rsiValue < rsiOversold ? color.new(color.green, 90) : na)
MACD,RSI,EM9,WMA45 (Scale -100 đến 100)include: MACD,RSI,EM9,WMA45.
All indicators are fixed from -100 to 100.
Momentum Setup - Ankush Bajaj Momentum Investing SetupMomentum Setup - Ankush Bajaj Momentum Investing Setup
Momentum Setup - Ankush Bajaj Momentum Investing SetupMomentum Setup - Ankush Bajaj Momentum Investing Setup
EMA Crossover with RSI and DistanceEMA Crossover with RSI and Distance Strategy
This strategy combines Exponential Moving Averages (EMA) with Relative Strength Index (RSI) and distance-based conditions to generate buy, sell, and neutral signals. It is designed to help traders identify entry and exit points based on multiple technical indicators.
Key Components:
Exponential Moving Averages (EMA):
The strategy uses four EMAs: EMA 5, EMA 13, EMA 40, and EMA 55.
A buy signal (long) is triggered when EMA 5 crosses above EMA 13 and EMA 40 crosses above EMA 55.
A sell signal (short) is generated when EMA 55 crosses above EMA 40.
The distance between EMAs (5 and 13) is also important. If the current distance between EMA 5 and EMA 13 is smaller than the average distance over the last 5 candles, a neutral condition is triggered, preventing a signal even if all other conditions are met.
Relative Strength Index (RSI):
The 14-period RSI is used to determine market strength and direction.
The strategy requires RSI to be above 50 and greater than the average RSI (over the past 14 periods) for a buy signal.
If the RSI is above 60, a green signal is given, indicating a strong bullish condition, even if the EMA conditions are not fully met.
If the RSI is below 40, a red signal is given, indicating a strong bearish condition, regardless of the EMA crossover.
Distance Conditions:
The strategy calculates the distance between EMA 5 and EMA 13 on each candle and compares it to the average distance of the last 5 candles.
If the current distance between EMA 5 and EMA 13 is lower than the average of the last 5 candles, a neutral signal is triggered. This helps avoid entering a trade when the market is losing momentum.
Additionally, if the distance between EMA 40 and EMA 13 is greater than the previous distance, the previous signal is kept intact, ensuring that the trend is still strong enough for the signal to remain valid.
Signal Persistence:
Once a buy (green) or sell (red) signal is triggered, it remains intact as long as the price is closing above EMA 5 for long trades or below EMA 55 for short trades.
If the price moves below EMA 5 for long trades or above EMA 55 for short trades, the signal is recalculated based on the most recent conditions.
Signal Display:
Green Signals: Represent a strong buy signal and are shown below the candle when the RSI is above 60.
Red Signals: Represent a strong sell signal and are shown above the candle when the RSI is below 40.
Neutral Signals: Displayed when the conditions for entry are not met, specifically when the EMA distance condition is violated.
Long and Short Signals: Additional signals are shown based on the EMA crossovers and RSI conditions. These signals are plotted below the candle for long positions and above the candle for short positions.
Trade Logic:
Long Entry: Enter a long trade when EMA 5 crosses above EMA 13, EMA 40 crosses above EMA 55, and the RSI is above 50 and greater than the average RSI. Additionally, the current distance between EMA 5 and EMA 13 should be larger than the average distance of the last 5 candles.
Short Entry: Enter a short trade when EMA 55 crosses above EMA 40 and the RSI is below 40.
Neutral Condition: If the distance between EMA 5 and EMA 13 is smaller than the average distance over the last 5 candles, the strategy will not trigger a signal, even if other conditions are met.
Thrax Signals and OverlaysThrax Signals and Overlays is a versatile toolkit offering insights into trends, trade entry/exit points, market sentiment, volatility, and more.
1. Enable Bar Colors:
Turn this on to see candlesticks change colors based on market sentiment.
- Green: Bullish sentiment.
- Purple: Neutral/sideways sentiment.
- Red: Bearish sentiment.
➔ These colors are calculated using a combination of Superbands, ATRs, and momentum.
➔ When a candle turns purple to green, it suggests a shift from neutral to bullish sentiment.
➔ When a candle turns purple to red, it indicates a shift from neutral to bearish sentiment.
2. Enable Buy/Sell Signals:
When this feature is enabled, the indicator provides clear buy and sell signals to help you identify potential trading opportunities.
⚙️ A Buy Signal is indicated by a green arrow, suggesting an upward market movement and an opportunity to enter a long trade.
⚙️ A Sell Signal is indicated by a red arrow, signaling a downward market movement and a potential opportunity for a short trade.
⚙️ Strong Buy and Sell Signals are represented by a "+" symbol, which highlights particularly high-confidence trade signals based on stronger trend alignments.
By enabling this feature, you can quickly spot entry points for your trades with the support of well-calculated indicators, streamlining your decision-making process.
3. Take Profit Points
➔ Green "x": Suggested exit points for bullish trades.
➔ Red "x": Suggested exit points for bearish trades.
These points are calculated using multiple trailing ATRs, allowing you to exit trades in portions.
4. Enable Thrax Shield Zones:
⚙️ When this feature is enabled, the indicator displays dynamic resistance and support zones on your chart, providing valuable insights into key price levels where market trends are likely to react.
➔ The Top Band (Red) represents the Resistance Zone, indicating a price level where upward momentum may slow or reverse as sellers dominate.
➔ The Bottom Band (Green) represents the Support Zone, indicating a price level where downward momentum may slow or reverse as buyers step in.
➔ These zones are calculated using a modified Gaussian filter, which smoothens price data and captures subtle market behaviors. By identifying these zones, you can plan trades more effectively, avoiding entries near resistance and looking for opportunities around support.
5. Plot Dynamic Wave Trail:
⚙️ This feature adds a wave trail to the chart, offering a dynamic and continuous visual representation of market sentiment and momentum.
➔ Blue Wave: Indicates bullish sentiment, suggesting the market is trending upwards with positive momentum.
➔ Red Wave: Indicates bearish sentiment, signaling a downward trend in the market. (This feature will be available soon.)
➔ The wave trail provides an intuitive way to confirm the prevailing market direction, helping traders make more informed decisions about entering or exiting trades.
✦ This can act as support an d resistance as well. When price touches blue trail price reversal in short term is highly possible similarly when price touches red trail price reversal chances are high.
✦ When a buy signal occurs but the Wave Trail is red, it could indicate a false signal, as the bearish sentiment contradicts the buy indication. Similarly, when a sell signal occurs but the Wave Trail is blue, it may also be a false signal, as the bullish sentiment opposes the sell indication. Always cross-reference signals with the Wave Trail to confirm sentiment before making trade decisions, reducing the chances of acting on conflicting or unreliable signals.
6. Enable Dynamic cloud
✦ When enabled it plots a cloud structure on chart. When the trend starts the color of the cloud is darker and then as the trend sustains it lightens out. It helps you identify recent trends ( dark cloud) by differentiating the older trends ( lighter cloud).
7. Enable Trend Catcher & Trend Tracer
⚙️ Trend Tracer
✦ When enabled, it plots a dotted line below the candles. This can be used in conjunction with trail wave to confirm bullish if both is bullish and bearish if both is bearish. This is built by tweaking a lower timeframe super trend.
➔ Confirms bullish sentiment when paired with a bullish wave trail.
➔ Confirms bearish sentiment when paired with a bearish wave trail.
⚙️ Trend Catcher
✦ Displays sharp trend lines on the chart. When enables it displays sharp trend lines which can be used in conjunction with trend catcher and trail wave to confirm trend type.
8. Dashboard
⚙️ When enabled, the dashboard provides key insights into market trends, including trend strength, trend direction, trend volatility, trend sentiment, and trend squeeze.
➔ Trend Strength: Displays a value between 0-100, derived from a combination of RSI and ADX values to indicate the trend's intensity.
➔ Trend Direction: Determines whether the market is bullish or bearish, calculated using RSI, ESAs (Exponential Moving Averages), and trend strength.
➔ Trend Volatility: Measures market fluctuations using Bollinger Bands and the RBI Vigor Index.
➔ Trend Sentiment: Reflects market bias, calculated using moving averages and on-balance volume (OBV).
✦This feature offers a concise overview of market conditions, helping you make informed trading decisions.
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THRAX TRADE SETUP
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⚙️ Trade Setup Guidelines
✪ Aggressive Long Trade Setup:
- Base Setup: Enable Buy-Sell signals, Wave Trail, Bar Coloring, and Shield Zones.
- Wait for a Buy or Strong Buy signal.
- Ensure the Wave Trail is bullish (blue) when the signal occurs.
- Confirm the price is not at the resistance zone (Upper Shield Zone).
- Once all conditions are met, you can initiate a long trade.
✪ Aggressive Short Trade Setup:
- Base Setup: Enable Buy-Sell signals, Wave Trail, Bar Coloring, and Shield Zones.
- Wait for a Sell or Strong Sell signal.
- Ensure the Wave Trail is bearish (red) when the signal occurs.
- Confirm the price is not at the support zone (Lower Shield Zone).
- Once all conditions are met, you can initiate a short trade.
⚙️ Cautious Trade Setup Guidelines
You can follow the Aggressive Long or Short Trade Setup with added confirmations for safer trades:
- Wait for the Aggressive Trade Setup conditions to trigger, then look for the following confirmations:
1. Confirmation 1: The candle color matches the sentiment (Green for bullish, Red for bearish).
2. Confirmation 2: The signal strength in the Dynamic Cloud is strong (dark colors).
3. Confirmation 3: Both Trend Catcher and Trend Tracer align with the sentiment (bullish or bearish).
4. Confirmation 4: Use the Dashboard to confirm the trend's strength, direction, and volatility.
These cautious setups provide additional validation for more reliable trades.
EMA + Stochastic Strategy (day trading)Setup Instructions
Exponential Moving Averages (EMA):
Use two EMAs:
50-period EMA for the overall trend.
20-period EMA for shorter-term movements.
Trend Confirmation:
If the 20 EMA is above the 50 EMA, focus on buy opportunities.
If the 20 EMA is below the 50 EMA, focus on sell opportunities.
Stochastic Oscillator:
Set Stochastic to a 14, 3, 3 period (default).
Overbought level = 80; Oversold level = 20.
Look for crossovers:
Buy: Stochastic %K crosses above %D in the oversold zone (below 20).
Sell: Stochastic %K crosses below %D in the overbought zone (above 80).
Entry and Exit Rules
Buy Signal:
The 20 EMA is above the 50 EMA, confirming an uptrend.
The Stochastic Oscillator is in the oversold zone (below 20), and %K crosses above %D.
Enter when the price retraces to and bounces off the 20 EMA in the direction of the trend.
Sell Signal:
The 20 EMA is below the 50 EMA, confirming a downtrend.
The Stochastic Oscillator is in the overbought zone (above 80), and %K crosses below %D.
Enter when the price retraces to and rejects off the 20 EMA in the direction of the trend.
Stop Loss and Take Profit
Stop Loss:
For buy trades: Place the stop loss below the recent swing low.
For sell trades: Place the stop loss above the recent swing high.
Take Profit:
Use a risk-to-reward ratio of 1:2 or higher.
Alternatively, exit the trade when Stochastic reaches the opposite extreme (80 for buys, 20 for sells).
Example
Scenario: GBP/USD on a 15-minute chart.
The 20 EMA is above the 50 EMA, indicating an uptrend.
The Stochastic Oscillator dips below 20, and %K crosses above %D.
Enter a buy trade when the price bounces off the 20 EMA.
Place a stop loss below the nearest swing low and a take profit at twice the risk.
Tips for Success
Avoid Choppy Markets: Ensure the EMAs are diverging, and there’s a clear trend.
Use Stochastic for Confirmation: Only take trades when the Stochastic Oscillator aligns with the EMA trend.
Combine with Price Action:
Watch for candlestick patterns (e.g., pin bars, engulfing candles) near the 20 EMA for additional confirmation.
Practice Discipline: Stick to your stop-loss and take-profit rules.
HOD/LOD/PMH/PML/PDH/PDL Strategy by @tradingbauhaus This script is a trading strategy @tradingbauhaus designed to trade based on key price levels, such as the High of Day (HOD), Low of Day (LOD), Premarket High (PMH), Premarket Low (PML), Previous Day High (PDH), and Previous Day Low (PDL). Below, I’ll explain in detail what the script does:
Core Functionality of the Script:
Calculates Key Price Levels:
HOD (High of Day): The highest price of the current day.
LOD (Low of Day): The lowest price of the current day.
PMH (Premarket High): The highest price during the premarket session (before the market opens).
PML (Premarket Low): The lowest price during the premarket session.
PDH (Previous Day High): The highest price of the previous day.
PDL (Previous Day Low): The lowest price of the previous day.
Draws Horizontal Lines on the Chart:
Plots horizontal lines on the chart for each key level (HOD, LOD, PMH, PML, PDH, PDL) with specific colors for easy visual identification.
Defines Entry and Exit Rules:
Long Entry (Buy): If the price crosses above the PMH (Premarket High) or the PDH (Previous Day High).
Short Entry (Sell): If the price crosses below the PML (Premarket Low) or the PDL (Previous Day Low).
Long Exit: If the price reaches the HOD (High of Day) during a long position.
Short Exit: If the price reaches the LOD (Low of Day) during a short position.
How the Script Works Step by Step:
Calculates Key Levels:
Uses the request.security function to fetch the HOD and LOD of the current day, as well as the highs and lows of the previous day (PDH and PDL).
Calculates the PMH and PML during the premarket session (before 9:30 AM).
Plots Levels on the Chart:
Uses the plot function to draw horizontal lines on the chart representing the key levels (HOD, LOD, PMH, PML, PDH, PDL).
Each level has a specific color for easy identification:
HOD: White.
LOD: Purple.
PDH: Orange.
PDL: Blue.
PMH: Green.
PML: Red.
Defines Trading Rules:
Uses conditions with ta.crossover and ta.crossunder to detect when the price crosses key levels.
Long Entry: If the price crosses above the PMH or PDH, a long position (buy) is opened.
Short Entry: If the price crosses below the PML or PDL, a short position (sell) is opened.
Long Exit: If the price reaches the HOD during a long position, the position is closed.
Short Exit: If the price reaches the LOD during a short position, the position is closed.
Executes Orders Automatically:
Uses the strategy.entry and strategy.close functions to open and close positions automatically based on the defined rules.
Advantages of This Strategy:
Based on Key Levels: Uses important price levels that often act as support and resistance.
Easy to Visualize: Horizontal lines on the chart make it easy to identify levels.
Automated: Entries and exits are executed automatically based on the defined rules.
Limitations of This Strategy:
Dependent on Volatility: Works best in markets with significant price movements.
False Crosses: There may be false crosses that generate incorrect signals.
No Advanced Risk Management: Does not include dynamic stop-loss or take-profit mechanisms.
How to Improve the Strategy:
Add Stop-Loss and Take-Profit: To limit losses and lock in profits.
Filter Signals with Indicators: Use RSI, MACD, or other indicators to confirm signals.
Optimize Levels: Adjust key levels based on the asset’s behavior.
In summary, this script is a trading strategy that operates based on key price levels, such as HOD, LOD, PMH, PML, PDH, and PDL. It is useful for traders who want to trade based on significant support and resistance levels.
Ultra TrendlinesThis indicator automatically draws trendlines based on every pivot point, helping traders visualize key support and resistance levels. It dynamically adjusts as new pivots are detected and validates the trendlines against price movement.
Introduction
The Ultra Trendlines indicator is designed to help traders identify and track significant trendlines on their charts. By automatically detecting pivot points (both highs and lows), it draws trendlines that highlight key market movements. These trendlines are valuable for understanding the broader trend and for making informed trading decisions.
Detailed Description
The indicator analyzes price data to find pivot points highs and lows over a user-defined lookback period. Once a pivot is detected, it draws trendlines between the pivot points.
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Accuracy
To ensure accuracy, the indicator only keeps trendlines that are confirmed by price action. It checks if the price crosses the trendline and deletes invalid lines.
Additionally, it checks if the trendlines stay within predefined price thresholds, filtering out irrelevant lines that are too far from current price action.
The indicator also has an option to only show "rising lows" and "falling highs" trendlines, offering further precision in trend direction.
As new pivots are detected, older trendlines that fall outside the lookback period are removed, ensuring the chart remains clean.
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Style
The trendlines can extend forward (infinite and userdefined), backward, both or none. The lines are drawn with a customizable style (solid, dotted, or dashed), color, and width.
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Summary of Key Points
The indicator automatically detects pivot points (highs and lows) and draws trendlines based on them. It allows you to customize the style, color, and width of the trendlines. The indicator filters out invalid trendlines by checking if they are still relevant based on price action and price thresholds. Additionally, you can choose to only display rising lows and falling highs for more accurate trend analysis. It also removes outdated trendlines to keep the chart clean.
Equilibrium Range Equilibrium Range
The Equilibrium Range indicator is designed to help traders identify key zones of market equilibrium, facilitating better decision-making in terms of trade entry, exit, and position management. It dynamically plots a range derived from two significant levels:
High Timeframe Structural Equilibrium: This level is calculated using the swing high and swing low of the largest visible swings on the 5-minute chart, representing the structural price equilibrium.
Previous Day's Equilibrium: Derived from the midpoint of the previous day's high and low, providing a historical reference point for potential support or resistance.
Key Features:
Dynamic Range Visualization: The indicator draws a rectangle representing the equilibrium range between the structural EQ and the previous day's EQ. The range is visually highlighted with a transparent yellow box to enhance clarity.
Integrated Label: A label inside the rectangle identifies the "EQ Range" for easy recognition without cluttering the chart.
Adaptive to Market Structure: Automatically adjusts to significant price movements by recalculating the structural EQ and updating the range accordingly.
Infinite Extension: The equilibrium range is extended to the right of the chart, ensuring its relevance in current and future price action.
Use Cases:
Consolidation Zones: Identify areas where price is likely to consolidate, helping traders avoid entering trades during periods of low volatility.
Entry and Exit Optimization: Use the equilibrium range as a guide for setting take-profits, stop-losses, or for scaling in and out of trades.
Trend Analysis: Monitor how price interacts with the range to gauge market sentiment and potential breakouts.
Entry-Exit pointThis indicator combines Bollinger Bands and RSI (Relative Strength Index) to generate entry and exit signals based on price movements and trend conditions.
### Key Features:
- **Bollinger Bands**: The indicator uses Bollinger Bands to assess volatility, with the upper and lower bands plotted around a simple moving average (SMA) of the price. The bands expand and contract based on the standard deviation, providing insights into potential overbought or oversold conditions.
- **RSI**: The RSI is used to determine if the price is overbought or oversold. In this case, it highlights conditions when the RSI is below 40 (oversold) for bullish signals and above 65 (overbought) for bearish signals.
- **Trend Analysis**: The indicator analyzes the previous high and low values to determine the market trend. It identifies uptrend and downtrend conditions based on recent price action.
- **Entry Signals**:
- **Bullish Entry (Green Arrows)**: A signal is generated when the price touches or dips below the lower Bollinger Band, the RSI is under 40, and the current candle shows a downtrend (lower high and low).
- **Bearish Entry (Red Arrows)**: A signal is triggered when the price touches or rises above the upper Bollinger Band, the RSI is above 65, and the current candle shows an uptrend (higher high and low).
### Visuals:
- **Green Up Arrows**: Indicate a potential bullish entry point, plotted below the bar.
- **Red Down Arrows**: Indicate a potential bearish entry point, plotted above the bar.
- **Bollinger Bands**: The upper and lower bands are shown in red and green, with the basis (SMA) in blue.
This indicator provides a clear, rule-based system for detecting potential price reversals based on both volatility (Bollinger Bands) and momentum (RSI), making it useful for traders looking to enter positions during strong trend reversals.
by Frank R.
Abraço primo Lucas Rodrigues
