Exact Three Black Crows and Three White SoldiersExact Three Black Crows and Three White Soldiers
where you can find 3 red and 3 green candle bars
Through these pattern, we can identify the trend reversal
Educational
3 CANDLE SUPPLY/DEMANDExplanation of the Code:
Demand Zone Logic: The script checks if the second candle closes below the low of the first candle and the third candle closes above both the highs of the first and second candles.
Zone Plotting: Once the pattern is identified, a demand zone is plotted from the low of the first candle to the high of the third candle, using a dashed green line for clarity.
Markers: A small triangle marker is added below the bars where a demand zone is detected for easy visualization.
Efficient Logic: The script checks the conditions for demand zone formation for every three consecutive candles on the chart.
This approach should be both accurate and efficient in plotting demand zones, making it easier to spot potential support levels on the chart.
Head and Shoulders PatternHead and Shoulders
Type: Reversal Pattern
Description: Indicates a trend reversal and signals that the current trend may be coming to an end.
How to Spot: Consists of three peaks – the middle peak (the head) is higher than the two side peaks (the shoulders).
Usage: When this pattern forms, traders look for a breakout below the neckline as a signal to enter a short position.
Auto Fibonacci LevelsPurpose of the Code:
This Pine Script™ code designed to automatically plot Fibonacci levels on a price chart based on a user-defined lookback period and other customizable settings. By identifying key Fibonacci levels within a specified lookback range, this indicator assists traders in determining potential support and resistance areas. It also allows for flexibility in reversing the trend direction, adding custom levels, and displaying labels for easy reference on the chart.
Key Components and Functionalities:
1. Inputs:
- `lookback` (Lookback): The number of bars to look back when calculating the highest and lowest prices for Fibonacci levels.
- `reverse`: Reverses the trend direction for calculating Fibonacci levels, useful when identifying retracements in both upward and downward trends.
- `lb` (Line Back): A secondary lookback parameter for adjusting the position of lines.
- Color and Label Settings: Options for customizing colors, labels, and whether to display prices at each Fibonacci level.
2. Fibonacci Levels:
- Sixteen Fibonacci levels are defined as inputs (`l1` to `l16`) with each having a customizable value (e.g., 0.236, 0.5, 1.618). This allows traders to select standard or custom Fibonacci levels.
- The calculated levels are dynamically adjusted based on the highest and lowest prices within the lookback period.
3. Price Range Calculation:
- `highest_price` and `lowest_price` are determined within the specified lookback range. These values form the range used to calculate Fibonacci retracement and extension levels.
4. Fibonacci Level Calculation:
- The script calculates the Fibonacci levels as a percentage of the range between the highest and lowest prices.
- Levels are adjusted for upward or downward trends based on user input (e.g., the `reverse` option) and Zigzag indicator direction.
5. Plotting Fibonacci Levels:
- Lines are drawn at each Fibonacci level with customizable colors that can form a gradient from one color to another (e.g., from lime to red).
- Labels with price and level values are also plotted beside each Fibonacci line, with options to toggle visibility and position.
6. Additional Lines:
- Lines representing the highest and lowest prices within the lookback range can be displayed as support and resistance levels for added reference.
Usage:
The Auto Fibonacci Levels indicator is designed for traders who utilize Fibonacci retracement and extension levels to identify potential support and resistance zones, reversal points, or trend continuations. This indicator enables:
- Quick visualization of Fibonacci levels without manual drawing.
- Customization of the levels and the ability to add unique Fibonacci levels.
- Identification of key support and resistance levels based on recent price action.
This tool is beneficial for traders focused on technical analysis and Fibonacci-based trading strategies.
Important Note:
This script is provided for educational purposes and does not constitute financial advice. Traders and investors should conduct their research and analysis before making any trading decisions.
Vyes66 Strategy - Sharp Entry with RSI EMAKey Features of the Strategy:
RSI + EMA:
RSI: The Relative Strength Index (RSI) helps confirm overbought and oversold conditions. A sharp entry happens when the RSI is in the oversold region for long (below 30) and the overbought region for short (above 70).
EMA Crossover: A 9-period EMA (fast) crossing above the 21-period EMA (slow) signals a long entry, and crossing below signals a short entry.
Sharp Entry Conditions:
Long Sharp Entry: This happens when the short EMA crosses above the long EMA and RSI is below 30 (oversold).
Short Sharp Entry: This happens when the short EMA crosses below the long EMA and RSI is above 70 (overbought).
Plotting Sharp Entries:
A green arrow is plotted below the bar when the strategy executes a long sharp entry.
A red arrow is plotted above the bar when the strategy executes a short sharp entry.
Exit Conditions:
Positions are exited when the short EMA crosses back below the long EMA for long trades, or the short EMA crosses back above the long EMA for short trades.
Visual Indicators:
The 9-period EMA (fast) is plotted in blue.
The 21-period EMA (slow) is plotted in red.
The RSI is plotted with its overbought (70) and oversold (30) levels, with the RSI shown as a line graph in purple.
GibbsFunctional Categories
Time Management
Timezone Settings: Configurable to adjust for different global time zones (e.g., GMT, GMT+1).
Daily and Weekly Resets: Functions to detect new days and weeks, used to mark specific periods on the chart.
Session Range Calculation: Ability to determine timeframes in minutes, hours, days, weeks, and months for precise market analysis.
Day and Week Separators
Daily Separators: Option to display daily separators that demarcate different trading days on the chart.
Weekends Highlight: Automatically grays out weekends for easy visual distinction.
Trading Sessions
Custom Sessions: Display trading sessions, such as:
Kill Zones: Morning and afternoon trading zones with customizable time ranges and background highlights.
Asian Session: Highlights the Asian market hours with liquidity data.
Session Background: Customizable colors for different sessions to visually separate them on the chart.
Liquidity Management
High and Low Points: Tracks previous day and week high/low prices, marking them for reference.
Labeling: Uses labels and lines to indicate if significant liquidity levels have been breached.
Session Liquidity: Identifies areas where liquidity is likely to accumulate, marking high and low ranges for Asian, CBDR, and other sessions.
Session-Specific Features
CBDR (Central Bank Dealers Range): Marks specific ranges based on sessions relevant for market analysis.
Range Projections: Projects key levels based on the size of the CBDR range for additional price targets.
Previous Day CBDR: Option to display CBDR from the previous day, aiding in historical price movement analysis.
Header and Display Customization
Header Text: Customizable text for the indicator's header to provide a quick reference.
Table Management: Simple table for organizing and displaying important textual information.
This indicator is ideal for traders who focus on session-based strategies and wish to have comprehensive visibility of previous liquidity points, trading zones, and day/week high and low levels on their charts.
My MTF OHLC scripttried to plot O H L C value of different time frames.
Completely user choice of timeframe and source Open High Low Close.
Chart can be of any time frame but the plots are user choosen TF and source.
chart looks bit messy
but
wisely selecting the MTF TF and Source could generate beautiful plots and can help in scalping.
Candle Range Theory - AlgoVisionOverview: The AlgoVision Candle Range Theory Indicator is designed for beginner traders or those seeking a straightforward trading tool. This free version simplifies our advanced algorithm while introducing key trading concepts, making it accessible for those new to the market.
How the Algorithm Works: Our algorithm incorporates timed algorithmic concepts, specifically focusing on high-probability highs and lows based on the days of the week. This approach allows traders to anticipate potential market movements more effectively. We also integrate ICT (Inner Circle Trader) concepts, such as the Power of 3.
Key Features:
User-Friendly Interface: Clear bullish and bearish signals make it easy for beginners to understand and act upon market trends.
Simplified Trading: While our free version utilizes the underlying AlgoVision algorithm, it lacks the advanced filters present in our higher-tier strategies. Consequently, the free version may not yield the same level of effectiveness as the alternative comprehensive options.
Multi-Asset Compatibility: The indicator works across various asset classes, allowing users to apply it in different markets.
Long and Short Strategies: Suitable for both bullish and bearish trading approaches, providing versatility in strategy.
Why Upgrade? While the free Candle Range Theory Indicator offers a solid introduction to trading signals, our higher-tier strategies provide outlined entries and exits along with enhanced filtering mechanisms. This results in significantly higher probability setups and improved trade outcomes. As traders gain experience, they may find greater value in these advanced features, which further refine their analysis and decision-making process.
Hollow Candlestick Indicator This Pine Script™ indicator is designed to help traders identify potential buy and sell opportunities based on specific candlestick patterns, consecutive red candles, gap detection, and recent highs and lows. Below is a detailed explanation of how the script works:
This indicator is a tool to aid in market analysis and should not be solely relied upon for making trading decisions. Always conduct thorough research and consider market fundamentals before executing trades.
Support & Resistance MTFSupport & Resistance Multiple Time frame
Support & Resistance Multiple Time frame
Support & Resistance Multiple Time frame
Support & Resistance Multiple Time frame
DeFI Hungaty Master Indicator [Strategy]As my community at https//www.defihungary.com suggested I created this strategy that we use.
Here is the description:
The Master Indicator is a comprehensive trading strategy designed to provide unique insights into market trends and reversals, with features that blend innovative calculations and adaptive conditions for both long and short positions. It incorporates custom indicators, dynamic stop-loss and take-profit settings, and a flexible timeframe selection to fit various trading styles. Here's a breakdown of the core functionalities and how they make this strategy distinctive:
1. Unique Trend Detection Mechanism
This indicator uses a Smooth Average Range Filter (SMMA) combined with Heiken Ashi (HA) candlesticks to reduce market noise and better capture trend direction. By calculating the smooth moving range (SMRNG), the indicator can detect price range shifts that hint at new trends or the continuation of existing ones.
Unlike standard moving averages or other trend indicators, the Master Indicator utilizes a unique range-filtered approach. This approach adds a layer of volatility filtering, which helps traders avoid false signals in choppy or sideways markets, making it particularly valuable in unpredictable markets.
2. Adaptive Entry and Exit Conditions
SMMA Crossovers: The Master Indicator leverages SMMA (Smoothed Moving Average) crossovers between the open and close prices to identify precise entry and exit points. This adaptive method of entry and exit, based on smoother averages, makes it more resilient against false signals in trending markets.
User-Defined Stop-Loss and Take-Profit: The strategy includes configurable stop-loss and take-profit options that adapt to each trade's entry price. These options help traders manage their risk and secure profits by setting dynamic thresholds.
Additionally, traders can adjust these levels according to their risk tolerance, from conservative to aggressive.
3. Flexible Date-Based Backtesting
The indicator allows users to set specific date ranges for backtesting using “From” and “To” inputs. This function is ideal for traders looking to evaluate the strategy’s performance over distinct market periods (e.g., bull, bear, or sideway markets).
By fine-tuning the backtesting period, traders can determine how well the strategy performs across various market conditions, making it a versatile tool for both intraday and swing traders.
4. Detailed and Intuitive Chart Visualizations
The strategy’s visual outputs include clearly marked Buy and Sell signals that are plotted as shapes above or below the bars, helping traders quickly identify entry and exit opportunities.
The chart also displays supportive SMMA lines that adapt dynamically based on market conditions, with separate SMMA lines for the open and close. These lines provide an intuitive visual representation of the market trend direction.
Additional target bands (high and low bands around the filtered price) offer traders insight into potential support and resistance levels, helping to validate trade entries and exits.
www.defihungary.com
5. Practical Application and Market Adaptability
This strategy is designed for a variety of asset classes (e.g., stocks, forex, crypto) and timeframes, from intraday to longer-term trends. The SMMA and range-filtered approaches are particularly effective in volatile markets, as they help to smooth out price action while maintaining responsiveness to genuine price trends.
The indicator is suitable for traders who want a single, all-in-one solution that provides trend detection, entry signals, and risk management. By adjusting the Range Multiplier and Sampling Period, users can optimize the strategy to fit different assets and trading styles.
Signals by RRRVersion 5.0
This indicator will plot a line on chart that shows the highest high point between two previous points on the chart. It does this by reporting the highest point of X number of candles, and begins the look-back X number of candles ago.
Default candle group size is 50, and default look-back begins 50 candles back.
With these settings, the script will essentially plot the highest high point between the candle that printed 100 candles ago, and the candle that printed 50 candles ago.
Options are available for looking for the highest point, or lowest point, with configurable distances in the look-back and candle group ranges.
Cross by RRRVersion 5.0
This indicator will plot a line on your chart that shows the highest high point between two previous points on the chart. It does this by reporting the highest point of X number of candles, and begins the look-back X number of candles ago.
Default candle group size is 50, and default look-back begins 50 candles back.
With these settings, the script will essentially plot the highest high point between the candle that printed 100 candles ago, and the candle that printed 50 candles ago.
Options are available for looking for the highest point, or lowest point, with configurable distances in the look-back and candle group ranges.
NX8Hindicatore di livelli di entry in Swing e Breakout del prezzo di tutti gli strumenti. utilizzabile su tutti i time frame dal 30min in su, su grafici con candele a 15 min. in su , sconsiglio utilizzo con time frame minori perchè i prezzi sono soggetti ad oscillazioni repentine anche nella candela a 30 minuti. è ottimo per operazioni di ampio respiro da 1 giorno in su e su operazioni di lungo utilizzandolo con time frame anche daily e weekly montly. i livelli sono a volte precisi al tik a volte con sforamenti. Non tener conto del becktesting che dipende dallo strumento e dai time frame utilizzati e che come tutte le strategie include falsi segnali. è meglio fare delle prove in paper trading per poter capire il funzionamento. E' possibile nella tabella di input variare il time frame e utilizzare quello di volta in volta piu' idoneo per mettere in atto la strategia long o short e trovare i punti precisi di swing del prezzo vedrai con i tuoi occhi il prezzo che tocca il livello e riparte . Entry da fare solo su livello , l entry va fatta dopo il riassorbimento su eventuale falso breakout. Comunque si puo' fare una simulazione per vedere se gli swing siano precisi , ovvio bisogna provarlo settarlo in base alla propria sensibilità e operatività. ricordo che il treding al 20% è tecnica ma all 80% è psicologia e autocontrollo. è consigliabile fare un operazione a settimana su livelli importanti time frame a 8h su futures . e time frame piu' grandi sui titoli azionari , livelli con time frame weekly. qualsiasi spiegazione sono disponibile. grazie
ICT Setup 02 [TradingFinder] Breaker Blocks + Reversal Candles🔵 Introduction
The "Breaker Block" concept, widely utilized in ICT (Inner Circle Trader) technical analysis, is a crucial tool for identifying reversal points and significant market shifts. Originating from the "Order Block" concept, Breaker Blocks help traders pinpoint support and resistance levels. These blocks are essential for understanding market trends and recognizing optimal entry and exit points.
A Breaker Block is essentially a failed Order Block that changes its role when price action breaks through it. When an Order Block fails to hold as a support or resistance level, it reverses its function, becoming a Breaker Block.
There are two primary types : Bullish Breaker Blocks and Bearish Breaker Blocks. These Breaker Blocks align with the prevailing market trend and indicate potential entry points after a liquidity sweep or a shift in market structure.
Understanding and applying the Breaker Block strategy enables traders to capitalize on the behavior of institutional investors, enhancing their trading outcomes.
Bullish Setup :
Bearish Setup :
🔵 How to Use
The ICT Setup 02 indicator designed to automate the identification of Bullish and Bearish Breaker Blocks. This tool enables traders to easily spot these blocks on a chart and utilize them for entering or exiting trades. Below is a breakdown of how to use this indicator in both bullish and bearish setups.
🟣 Bullish Breaker Block Setup
A Bullish Breaker Block setup is identified in an uptrend, where it serves as a potential entry point. This setup occurs when a Bearish Order Block fails and the price moves above the high of that Order Block. In this scenario, the previously bearish Order Block turns into a Bullish Breaker Block, which now acts as a support level for the price.
To trade a Bullish Breaker Block, wait for the price to retest this newly formed support level. Confirmation of the uptrend can be achieved by analyzing lower time frames for further market structure shifts or other bullish indicators.
A successful retest of the Bullish Breaker Block provides a high-probability entry point for a long trade, as it signals institutional support. Traders often place their stop-loss below the low of the Breaker Block zone to minimize risk.
🟣 Bearish Breaker Block Setup
A Bearish Breaker Block setup, conversely, is used in a downtrend to identify potential sell opportunities. This setup forms when a Bullish Order Block fails, and the price moves below the low of that Order Block.
Once this Order Block is broken, it reverses its role and becomes a Bearish Breaker Block, providing resistance to the price as it pushes downward. For a Bearish Breaker Block trade, wait for the price to retest this resistance level.
A confirmation of the downtrend, such as a market structure shift on a lower time frame or additional bearish signals, strengthens the setup. The Bearish Breaker Block retest provides an opportunity to enter a short position, with a stop-loss placed just above the high of the Breaker Block zone.
🔵 Settings
Pivot Period : This setting controls the look-back period used to identify pivot points that contribute to the detection of Order Blocks. A higher period captures longer-term pivots, while a lower period focuses on more recent price action. Adjusting this parameter allows traders to fine-tune the indicator to match their trading time frame.
Breaker Block Validity Period : This setting defines how long a Breaker Block remains valid based on the number of bars elapsed since its formation. Increasing the validity period keeps Breaker Blocks active for a longer duration, which can be useful for higher time frame analysis.
Mitigation Level BB : This option lets traders choose the level of the Order Block at which the price is expected to react. Options like "Proximal," "50% OB," and "Distal" adjust the zone where a reaction may occur, offering flexibility in setting up the entry and stop-loss levels.
Breaker Block Refinement : The refinement option refines the Breaker Block zone to display a more precise range for aggressive or defensive trading approaches. The "Aggressive" mode provides a tighter range for risk-tolerant traders, while the "Defensive" mode expands the zone for those with a more conservative approach.
🔵 Conclusion
The Breaker Block indicator provides traders with a sophisticated tool for identifying key reversal zones in the market. By leveraging Breaker Blocks, traders can gain insights into institutional order flow and predict critical support and resistance levels.
Using Breaker Blocks in conjunction with other ICT concepts, like Fair Value Gaps or liquidity sweeps, enhances the reliability of trading signals. This indicator empowers traders to make informed decisions, aligning their trades with institutional moves in the market.
As with any trading strategy, it is crucial to incorporate proper risk management, using stop-losses and position sizing to minimize potential losses. The Breaker Block strategy, when applied with discipline and thorough analysis, serves as a powerful addition to any trader’s toolkit.
MACD Histogram Fibonacci Retracement LevelsMACD Histogram Fibonacci Retracement Level s.
MACD Histogram Fibonacci Retracement Levels indicator considers the highest and lowest histogram bar levels from Intraday Day Open.
Fibonacci retracement levels 23.6%, 38.2%, 50%, 61.8%, and 78.6% are displayed for the Highest and Lowest histogram bar .As the day progress revised Fibonacci Retracement Levels are set in based on change in Highest and Lowest histogram bar levels.
Histogram bars positions are monitored vis a vis the Fibonacci Retracement Levels to plan the trade entry or exit as per MACD indicator.
MACD and Signal levels are opted out to get clear histogram bar image on chart. Input check in box is available to display MACD and signal lines at Users option.
A Histogram intraday average line (Histo Intra Avg) indicate the intraday average movement of histogram bars.
MACD Histogram Fibonacci Retracement Levels is very useful to know the level of upward and downward Histogram bar movements vis a vis Fibonacci Retracement Levels compared to general MACD Indicator Histogram levels.
DISCLAIMER: For educational and entertainment purpose only .Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security/ies or investment/s.
Dynamic Linear CandlesDynamic Linear Candles is a unique and versatile indicator that reimagines traditional candlestick patterns by integrating customizable moving averages directly into candle structures. This dynamic approach smooths the appearance of candlesticks to better highlight trends and suppress minor market noise, allowing traders to focus on essential price movements.
Key Features:
1. Dynamic Candle Smoothing: Choose between popular smoothing types (SMA, EMA, WMA, HMA) to apply directly to each candle’s Open, High, Low, and Close values. This adaptive smoothing reveals hidden trends by refining price action into simplified, flowing candles, ideal for spotting subtle changes in market sentiment.
2. Signal Line Overlay: The signal line provides an additional layer of trend confirmation. Select from SMA, EMA, WMA, or HMA smoothing to match your trading style. The line dynamically changes color based on the price’s relative position, helping traders quickly identify bullish or bearish shifts.
3. Enhanced Candle Visualization: Candles adjust in color and opacity based on bullish or bearish trends, providing immediate visual cues about market momentum. The customized color and opacity settings allow for clearer distinction, especially in noisy markets.
Why This Combination?
This script is more than just an aesthetic adjustment; it’s a purposeful combination of moving averages and candle smoothing designed to enhance readability and actionable insights. Traditional candles often suffer from excessive noise in volatile markets, and this mashup addresses that by creating a smooth, flowing chart that adapts to the underlying trend. The Signal Line adds confirmation, acting as a filter for potential entries and exits. Together, these elements serve as a concise toolset for traders aiming to capture trend-based opportunities with clarity and precision.
Zones by RajeshThis T "Zones by Rajesh," creates a visual representation of high and low zones based on the Average Daily Range (ADR) for the past 5 and 10 days. This script can be useful for identifying potential support and resistance zones around the opening price for each trading day.
How to Use the Indicator:
Identify Support and Resistance Zones:
The filled zones visually show where the price might find support (green) or resistance (red) based on historical price action over the last 5 and 10 days.
Trading Strategies:
Range Bound Trading: When prices enter the filled zones, it can be a signal that price may encounter support or resistance.
Breakout Signals: Price breaking above or below these zones can indicate potential for a continued trend in that direction.
Risk Management:
The zones offer a reference for setting stop-loss and take-profit levels, as the ADR gives a statistically calculated boundary based on recent price movement.
This indicator is versatile for intraday trading setups, particularly for identifying potential reversal or breakout zones around the day's opening price.
Global OECD CLI Diffusion Index YoY vs MoMThe Global OECD Composite Leading Indicators (CLI) Diffusion Index is used to gauge the health and directional momentum of the global economy and anticipate changes in economic conditions. It usually leads turning points in the economy by 6 - 9 months.
How to read: Above 50% signals economic expansion across the included countries. Below 50% signals economic contraction.
The diffusion index component specifically shows the proportion of countries with positive economic growth signals compared to those with negative or neutral signals.
The OECD CLI aggregates data from several leading economic indicators including order books, building permits, and consumer and business sentiment. It tracks the economic momentum and turning points in the business cycle across 38 OECD member countries and several other Non-OECD member countries.
CCI Threshold StrategyThe CCI Threshold Strategy is a trading approach that utilizes the Commodity Channel Index (CCI) as a momentum indicator to identify potential buy and sell signals in financial markets. The CCI is particularly effective in detecting overbought and oversold conditions, providing traders with insights into possible price reversals. This strategy is designed for use in various financial instruments, including stocks, commodities, and forex, and aims to capitalize on price movements driven by market sentiment.
Commodity Channel Index (CCI)
The CCI was developed by Donald Lambert in the 1980s and is primarily used to measure the deviation of a security's price from its average price over a specified period.
The formula for CCI is as follows:
CCI=(TypicalPrice−SMA)×0.015MeanDeviation
CCI=MeanDeviation(TypicalPrice−SMA)×0.015
where:
Typical Price = (High + Low + Close) / 3
SMA = Simple Moving Average of the Typical Price
Mean Deviation = Average of the absolute deviations from the SMA
The CCI oscillates around a zero line, with values above +100 indicating overbought conditions and values below -100 indicating oversold conditions (Lambert, 1980).
Strategy Logic
The CCI Threshold Strategy operates on the following principles:
Input Parameters:
Lookback Period: The number of periods used to calculate the CCI. A common choice is 9, as it balances responsiveness and noise.
Buy Threshold: Typically set at -90, indicating a potential oversold condition where a price reversal is likely.
Stop Loss and Take Profit: The strategy allows for risk management through customizable stop loss and take profit points.
Entry Conditions:
A long position is initiated when the CCI falls below the buy threshold of -90, indicating potential oversold levels. This condition suggests that the asset may be undervalued and due for a price increase.
Exit Conditions:
The long position is closed when the closing price exceeds the highest price of the previous day, indicating a bullish reversal. Additionally, if the stop loss or take profit thresholds are hit, the position will be exited accordingly.
Risk Management:
The strategy incorporates optional stop loss and take profit mechanisms, which can be toggled on or off based on trader preference. This allows for flexibility in risk management, aligning with individual risk tolerances and trading styles.
Benefits of the CCI Threshold Strategy
Flexibility: The CCI Threshold Strategy can be applied across different asset classes, making it versatile for various market conditions.
Objective Signals: The use of quantitative thresholds for entry and exit reduces emotional bias in trading decisions (Tversky & Kahneman, 1974).
Enhanced Risk Management: By allowing traders to set stop loss and take profit levels, the strategy aids in preserving capital and managing risk effectively.
Limitations
Market Noise: The CCI can produce false signals, especially in highly volatile markets, leading to potential losses (Bollinger, 2001).
Lagging Indicator: As a lagging indicator, the CCI may not always capture rapid market movements, resulting in missed opportunities (Pring, 2002).
Conclusion
The CCI Threshold Strategy offers a systematic approach to trading based on well-established momentum principles. By focusing on overbought and oversold conditions, traders can make informed decisions while managing risk effectively. As with any trading strategy, it is crucial to backtest the approach and adapt it to individual trading styles and market conditions.
References
Bollinger, J. (2001). Bollinger on Bollinger Bands. New York: McGraw-Hill.
Lambert, D. (1980). Commodity Channel Index. Technical Analysis of Stocks & Commodities, 2, 3-5.
Pring, M. J. (2002). Technical Analysis Explained. New York: McGraw-Hill.
Tversky, A., & Kahneman, D. (1974). Judgment under uncertainty: Heuristics and biases. Science, 185(4157), 1124-1131.
Pritesh-Intraday This script is a customized TradingView indicator designed to identify potential intraday buy and sell opportunities using a combination of technical indicators and filters to enhance signal quality. It leverages multiple parameters and timeframes to assess market momentum, trend strength, and volume conditions, aiming to capture price swings during the day. Key features include:
1. **Multi-Timeframe Analysis**: Core signals, such as RSI, SMA, EMA, and ADX, are calculated on a 5-minute timeframe to enhance short-term trend detection.
2. **RSI and ADX Conditions**: Buy signals are generated when the short-term moving average is above the long-term moving average, the RSI is over 60, and ADX exceeds a set threshold, indicating a strong upward trend. Sell signals follow the opposite conditions with a lower RSI threshold. This combination helps validate signal strength based on price momentum.
3. **Stochastic and Volume Filters**: Optional volume and stochastic filters reduce noise by checking for high-volume conditions and avoiding overbought/oversold levels, making signals more reliable.
4. **Trend Confirmation with EMA**: A long-term EMA filter aligns entries with the prevailing trend, minimizing counter-trend signals and improving signal accuracy in trending markets.
5. **In-Position State Management**: The indicator tracks whether it’s currently "in position," ensuring that only one active signal—either buy or sell—is followed at a time, with appropriate exit conditions for each position.
6. **Custom Exit Logic**: Exit points for buy and sell positions are triggered by a trend reversal, declining RSI, or stochastic levels, optimizing the entry and exit timing for each trade.
7. **Visual Signals and Plotting**: The script includes buy and sell markers, along with the plotted short- and long-term SMAs, EMA, ADX, and stochastic levels, allowing easy visual confirmation of conditions and signal points on the chart.
US Presidents with Market Returns by Party (1910s-Present)Colored background for presidents by party affiliation with table displaying market returns for each US president and sum of total returns by party.
