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Wolfe Scanner (Multi - zigzag) [HeWhoMustNotBeNamed]Before getting into the script, I would like to explain bit of history around this project. Wolfe was in the back of my mind for some time and I had several attempts so far. 🎯Initial Attempt When I first developed harmonic patterns, I got many requests from users to develop script to automatically detect Wolfe formation. I thought it would be easy and started boasting everywhere that I am going to attempt this next. However I miserably failed that time and started realising it is not as simple as I thought it would be. I started with Wolfe in mind. But, ran into issues with loops. Soon figured out that finding and drawing wedge is more trickier. I decided will explore trendline first so that it can help find wedge better. Soon, the project turned into something else and resulted in Auto-TrendLines-HeWhoMustNotBeNamed and Wolfe left forgotten. 🎯Using predefined ratios Wolfe also has predefined fib ratios which we can use to calculate the formation. But, upon initial development, it did not convince me that it matches visual inspection of Wolfe all the time. Hence, I decided to fall back on finding wedge first. 🎯 Further exploration in finding wedge This attempt was not too bad. I did not try to jump into Wolfe and nor I bragged anywhere about attempting anything of this sort. My target this time was to find how to derive wedge. I knew then that if I manage to calculate wedge in efficient way, it can help further in finding Wolfe. While doing that, ended up deriving Wedge-and-Flag-Finder-Multi-zigzag - which is not a bad outcome. I got few reminders on Wolfe after this both in comments and in PM. 🎯You never fail until you stop trying!! After 2 back to back hectic 50hr work weeks + other commitments, I thought I will spend some time on this. Took less than half weekend and here we are. I was surprised how much little time it took in this attempt. But, the plan was running in my subconscious for several weeks or even months. Last two days were just putting these plans into an action. Now, let's discuss about the script. 🎲 Wolfe Concept Wolfe concept is simple. Whenever a wedge is formed, draw a line joining pivot 1 and 4 as shown in the chart below: Converging trendline forms the stop loss whereas line joining pivots 1 and 4 form the profit taking points. 🎲 Settings Settings are pretty straightforward. Explained in the chart below.
Индикатор Pine Script®
от Trendoscope
110
Overbought & Oversold TrackerAbout this indicator: - This indicator is basically a stochastic indicator that shows to you the crossover in an Overbought or Oversold area DIRECTLY on the chart How does it works: - When Stochastic crosses at Oversold area, a Blue Triangle will appear below the candle with a Blue Dotted Line at the low of the current candle - The Blue Triangle is to help you to see easily the candle where the crossover is occurring - At the same time, the Blue Dotted Line will act as a minor Support for the current price - If the current candle breaks the Blue Dotted Line (minor Support), the candle will be displayed in a red color - Same things will occur if Stochastic crosses at the Overbought area, but at this time, a Red Triangle with Red Dotted Line will appear just to differentiate between Overbought and Oversold crossover The advantage of using this indicator: - You can easily see the point of stochastic crossover DIRECTLY on the chart without analyzing the stochastic indicator - At the same time, it helps you to see clearly either the price is at the bottom / reversal by combining it with S&R / trendlines or other indicators Personally, I will combine this indicator with: a. Support and Resistance or Trendlines b. Fibonacci retracement c. Candlestick indicator (see my script list) d. Ultimate MACD (see my script list) e. Volume indicator These combinations personally increase the possibility for me to buy exactly at the point of reversal in a pullback - This indicator is preset at the value of 25 (oversold) and 75 (overbought) k line, it's my own preference. You can change these values at the setting menu to suit your trading style. - Once again, I am opening the script for anyone to modify/alter it based on you own preference. Have a good day!
Индикатор Pine Script®
от taufan_ganas
4
BE_CustomFx_LibraryLibrary "BE_CustomFx_Library" A handful collection of regular functions, Custom Tools & Utility Functions could be used in regular Scripts. hope these functions can be understood by a non programmer like me too. G_TextValOfNumber(ValueToConvert, RequiredDecimalPlaces, BeginingChar, EndChar) Function to return the String Value of Number with decimal precision with the prefix and suffix characters provided   Parameters:      ValueToConvert : = Number to Convert      RequiredDecimalPlaces : = No of Decimal values Required. supports to a max of 5 decimals else defaults to 2      BeginingChar : = Prefix character which is needed.      EndChar : = Suffix character which is needed.   Returns: Returns Out put with formated value of Given Number for the specified deicimal values with Prefix and suffix string G_TradableValue(ValueToConvert, NeedCustomization, RequiredDecimalPlaces) Function to return the Tradable Value of Number   Parameters:      ValueToConvert : = Number to Convert      NeedCustomization : = set to 1 if you want to customize the decimal percision values. default is No customization needed, which provides output equalent to round_to_mintick      RequiredDecimalPlaces : = if NeedCustomization is set to 1 mention the decimal percision value required. max supported decimal is 5 else defaults to 2   Returns: Returns Out put with formated value of Given Number G_TxtSizeForLables(SizeValue) Function to Get size Value for text values used in Lables   Parameters:      SizeValue : = auto, tiny, small, normal, large, huge. specify either of these values or default value Normal will be displayed as output   Returns: Returns Respective Text size G_Reg_LineType(LineType) Function to Get Line Style Value for text values used in Lines   Parameters:      LineType : = 'solid (─)', 'dotted (┈)', 'dashed (╌)', 'arrow left (←)', 'arrow right (→)', 'arrows both (↔)' or default line style 'dotted (┈)' will be the output   Returns: Returns Respective Line style G_ShapeTypeForLables(ShapeType) Function to Get Shape Style Value for text values used in plot shapes   Parameters:      ShapeType : = 'XCross', 'Cross', 'Triangle Up', 'Triangle Down', 'Flag', 'Circle','Arrow Up', 'Arrow Down','Lable Up', 'Lable Down' or default shpae style Triangle Up will be the output   Returns: Returns Respective Shape style G_Indicator_Val(string, float, int, int) Gets Output of the technical analyis indicator which has length Parameter. RSI, ATR, EMA, SMA, HMA, WMA, VWMA, 'CMO', 'MOM', 'ROC','VWAP'   Parameters:      string : IndicatorName to be specified      float : SrcVal for the TA indicator default is close      int : Length for the TA indicator      int : DecimalValue optional to specify if required formatted output with decimal percision   Returns: Value with the given parameters G_CandleInfo(string, bool, float, bool) function to get Candle Informarion such as both wicksize, top wick size , bottom wick size, full candle size and body size in default points   Parameters:      string : WhatCandleInfo, string input with either of these options "Wick" , "TWick" , "BWick" , "Candle", "Body" , "BearfbVal", "BullfbVal" , "CandleOpen" ,"CandleClose", "CandleHigh" , "CandleLow", "BodyPct"      bool : RepaintingVersion, set to true if required data on the realtime bar else default is set to false      float : FibValueOfCandle, set the fibo value to extract fibvalue of the candle else default is set to 38.2%      bool : AccountforGaps, set to true if required data on considering the gap between previous and current bar else default is set to false   Returns: Returns Respective values for the candles G_BullBearBarCount(int, int) Counts how many green & red bars have printed recently (ie. pullback count)   Parameters:      int : HowManyCandlesToCheck The lookback period to look back over      int : BullBear The color of the bar to count (1 = Bull, -1 = Bear), Open = close candles are ignored   Returns: The bar count of how many candles have retraced over the given lookback with specific candles BarToStartYourCalculation(Int) function to get candle co-ordinate in order to use it further for calculating your analysis work . "Heart full Thanks to 3 Pine motivators (LonesomeTheBlue, Myank & Sriki) who helped me cracking this logic"   Parameters:      Int : SelectedCandleNumber (default=450) How many candles you would need to anlysie in your script from the right.   Returns: A boolean - output is returned to say the starting point and continue to diplay true for the future candles isHammer(float, bool, bool) Checks if the current bar is a hammer candle based on the given parameters   Parameters:      float : fib (default=0.382) The fib to base candle body on      bool : colorMatch (default=false) Does the candle need to be green? (true/false)      bool : NeedRepainting (default=false) Specify True if you need them to calculate on the realtime bars   Returns: A boolean - true if the current bar matches the requirements of a hammer candle isStar(float, bool, bool) Checks if the current bar is a shooting star candle based on the given parameters   Parameters:      float : fib (default=0.382) The fib to base candle body on      bool : colorMatch (default=false) Does the candle need to be red? (true/false)      bool : NeedRepainting (default=false) Specify True if you need them to calculate on the realtime bars   Returns: A boolean - true if the current bar matches the requirements of a shooting star candle isDoji(float, float, bool) Checks if the current bar is a doji candle based on the given parameters   Parameters:      float : _wickSize (default=1.5 times) The maximum allowed times can be top wick size compared to the bottom (and vice versa)      float : _bodySize (default= 5 percent to be mentioned as 0.05) The maximum body size as a percentage compared to the entire candle size      bool : NeedRepainting (default=false) Specify true if you need them to calculate on the realtime bars   Returns: A boolean - true if the current bar matches the requirements of a doji candle isBullishEC(float, float, bool, bool) Checks if the current bar is a bullish engulfing candle   Parameters:      float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)      float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage      bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?      bool : NeedRepainting (default=false) Specify True if you need them to calculate on the realtime bars   Returns: A boolean - true if the current bar matches the requirements of a bullish engulfing candle isBearishEC(float, float, bool, bool) Checks if the current bar is a bearish engulfing candle   Parameters:      float : _allowance (default=0) How many POINTS to allow the open to be off by (useful for markets with micro gaps)      float : _rejectionWickSize (default=disabled) The maximum rejection wick size compared to the body as a percentage      bool : _engulfWick (default=false) Does the engulfing candle require the wick to be engulfed as well?      bool : NeedRepainting (default=false) Specify True if you need them to calculate on the realtime bars   Returns: A boolean - true if the current bar matches the requirements of a bearish engulfing candle Plot_TrendLineAtDegree(float, float, int, string, bool) helps you to plot the Trendlines based on the specified angle at the defined price to bar ratio   Parameters:      float : Degree (default=14) angle at which Trendline to be plot      float : price2bar_ratio (default=1e-10) The maximum rejection wick size compared to the body as a percentage      int : Bars2Plot (default=6) Does the engulfing candle require the wick to be engulfed as well?      string : LineStyle = 'solid (─)', 'dotted (┈)', 'dashed (╌)', 'arrow left (←)', 'arrow right (→)', 'arrows both (↔)' or default line style 'dotted (┈)' will be the output      bool : PlotOnOpen_Close (default=false) Specify True if you need them to calculate on the Open\Close Values   Returns: plot the Trendlines based on the specified angle at the defined price to bar ratio
Библиотека Pine Script®
от TradeWiseWithEase
Triple Colored Least Squares Moving Average + Crossover AlertsThis script is forked from the ‘ Double Colored Least Squares Moving Average + Crossover Alerts ‘ from @IronKnightmare. First release & notes : 2021-11-03. Overview: The Least Squares Moving Average is used mainly as a crossover signal to identify bullish or bearish trends. When a shorter duration line cross a longer one a trend can be identified. When multiple lines or the price action cross a longterm trend the confirmation can be further validated. Tradingview contains already some indicators with 1 or two LSMA trendlines that can be configured and toggled. The original script that I forked had two LSMA lines that could be plotted with other valuable functions, I added a third for further confirmation as some trading systems will use three lines or some combination of those for validation. Usage: In inputs - You will see LSMA 1, LSMA 2 & LSMA 3. The default values are 40, 100 & 400 representing the number of periods plotted by that line : fast, medium and slow changing trendlines will be plotted. The offset value and source are standard for most scripts. In Style - You can toggle LSMA 1, 2 or 3 and any combination of those. There are much more possibilities this way. - For each LSMA, Color 0 & Color 1 are for coloring the slope of the trendline, - Color 0 for rising slope, - Color 1 for descending slope. - The script will automatically color the rise or fall of the trendline accordingly. You can also set one identical color in both slopes for one unique color. - The ‘ Long Crossover 1 on 2 ’ is a signal for when the LSMA 1 cross over the LSMA 2, usually a shorter periods trendline, more volatile, climbing over the medium term one. A Signal will be traced on the chart at that crossing, you can configure this. The ‘Short Crossover 1 on 2’ is when the LSMA 1 cross under the LSMA 2, a signal will be traced on the chart accordingly. - The Long Crossover 1 on 3 & Short Crossover 1 on 3 act on the same principle, although the crossing of the fast LSMA on the long / slow LSMA are used. Both can be toggled. - The ‘ Background Coloring Line 1 : 0-Neutral, 1-Up, 2-Down ’ is an optional background coloring for the LSMA1 line. This can provide additional information at a quick glance, especially if you combine the two other lines backgrounds, the partial transparency will compound.
Индикатор Pine Script®
от SebMatte
8
Smooth Cloud + RSI Liquidity Spectrum + Zig Zag Volume ProfileSmooth Cloud + RSI Liquidity Spectrum + Zig Zag++ Volume Profile" Indicator | Advanced Trend & Liquidity Analysis. --- 📌 Key Features & Enhancements (Zig Zag++) This advanced indicator combines **trend-following moving averages, RSI momentum with liquidity factors, and an improved Zig Zag++ algorithm with volume profiling** for precise swing detection. 🔹 Zig Zag++ Upgrades: ✅ **Dynamic Reversal Detection** – Adapts to volatility using percentage-based pivots. ✅ **Volume-Weighted Swing Points** – Highlights high-liquidity turning points. ✅ **Multi-Timeframe Confirmation** – Uses historical pivots for stronger signals. ✅ **Volume Profile Clustering** – Reveals key support/resistance zones based on traded volume. --- 📊 Indicator Components Breakdown 1️⃣ Smooth Cloud (Trend Filter) - **Fast MA (20-period) & Slow MA (50-period)** – Configurable as EMA, SMA, or WMA. - **Cloud Coloring** – Green when fast MA > slow MA (bullish), red otherwise (bearish). - **Purpose**: Acts as a trend filter—only take trades in the direction of the cloud. 2️⃣ RSI Liquidity Spectrum (Momentum + Volume) - **RSI (14-period default)** – Standard momentum oscillator. - **Liquidity-Adjusted Momentum** = `(RSI + ROC(RSI,3)) * (Volume / SMA(Volume, RSI Length))` - **Purpose**: Identifies overbought/oversold conditions with volume confirmation (high volume = stronger signal). 3️⃣ Zig Zag++ (Swing Detection & Volume Profiling) 📈 Zig Zag Logic:** - **Percentage-Based Reversals** (default: 5%) – Only plots swings exceeding this threshold. - **Pivot Tracking** – Stores price & bar index of each swing point in arrays. - **Dynamic Line Drawing** – Connects swing points with yellow trendlines. 📊 Volume Profile at Swings: - **Lookback Period** (200 bars default) – Analyzes volume distribution between Zig Zag turns. - **10-Price Bin Clustering** – Splits the price range into 10 levels and calculates traded volume at each. - **Transparency Scaling** – Higher volume zones appear darker (stronger support/resistance). --- 🎯 Step-by-Step Trading Strategies 📈 Strategy 1: Trend-Following with RSI Liquidity Confirmation** 1. **Enter Long** when: - Smooth Cloud is **green** (fast MA > slow MA). - RSI Liquidity Momentum crosses above **30** (bullish momentum + volume). - Price pulls back to the **Volume Profile high-volume zone** (demand area). 2. **Enter Short** when: - Smooth Cloud is **red** (fast MA < slow MA). - RSI Liquidity Momentum crosses below **70** (bearish momentum + volume). - Price rallies into the **Volume Profile high-volume zone** (supply area). 3. **Exit** when: - Zig Zag++ detects a new reversal (5% move against position). - RSI Liquidity Momentum crosses back mid-level (50). --- 📉 Strategy 2: Swing Trading with Zig Zag++ Pivots** 1. **Buy at Swing Lows** when: - Zig Zag++ prints a **higher low** (bullish structure). - Volume Profile shows **strong absorption** (high volume at the low). - RSI Liquidity Momentum is rising from oversold (<30). 2. **Sell at Swing Highs** when: - Zig Zag++ prints a **lower high** (bearish structure). - Volume Profile shows **distribution** (high volume at the top). - RSI Liquidity Momentum is falling from overbought (>70). 3. **Stop Loss**: - Below the recent Zig Zag low (for longs). - Above the recent Zig Zag high (for shorts). --- 📌 Additional Enhancements (Pro Tips)** - **Combine with Higher Timeframe (HTF) Cloud** – Use a 4H/1D cloud to filter trades. - **Divergence Detection** – Hidden bullish/bearish divergences between Zig Zag & RSI Liquidity. - **Volume Spike Confirmation** – Only trade if volume exceeds SMA(volume, 20) at reversal points. --- 🚀 Conclusion This **all-in-one indicator** provides: ✔ **Trend direction** (Smooth Cloud) ✔ **Momentum + Liquidity strength** (RSI Spectrum) ✔ **Precise swing points** (Zig Zag++) ✔ **Volume-based S/R zones** (Profile Clustering) Best used on **15M-4H timeframes** for swing/day trading. Adjust parameters based on asset volatility.
Индикатор Pine Script®
от Markking77
3
WT + Stoch RSI Reversal ComboOverview – WT + Stoch RSI Reversal Combo This custom TradingView indicator combines WaveTrend (WT) and Stochastic RSI (Stoch RSI) to detect high-probability market reversal zones and generate Buy/Sell signals. It enhances accuracy by requiring confirmation from both oscillators, helping traders avoid false signals during noisy or weak trends. 🔧 Key Features: WaveTrend Oscillator with optional Laguerre smoothing. Stochastic RSI with adjustable smoothing and thresholds. Buy/Sell combo signals when both indicators agree. Histogram for WT momentum visualization. Configurable overbought/oversold levels. Custom dotted white lines at +100 / -100 levels for reference. Alerts for buy/sell combo signals. Toggle visibility for each element (lines, signals, histogram, etc.). ✅ How to Use the Indicator 1. Add to Chart Paste the full Pine Script code into TradingView's Pine Editor and click "Add to Chart". 2. Understand the Signals Green Triangle (BUY) – Appears when: WT1 crosses above WT2 in oversold zone. Stoch RSI %K crosses above %D in oversold region. Red Triangle (SELL) – Appears when: WT1 crosses below WT2 in overbought zone. Stoch RSI %K crosses below %D in overbought region. ⚠️ A signal only appears when both WT and Stoch RSI agree, increasing reliability. 3. Tune Settings Open the settings ⚙️ and adjust: Channel Lengths, smoothing, and thresholds for both indicators. Enable/disable visibility of: WT lines Histogram Stoch RSI Horizontal level lines Combo signals 4. Use with Price Action Use this indicator in conjunction with support/resistance zones, chart patterns, or trendlines. Works best on lower timeframes (5m–1h) for scalping or 1h–4h for swing trading. 5. Set Alerts Set alerts using: "WT + Stoch RSI Combo BUY Signal" "WT + Stoch RSI Combo SELL Signal" This helps you catch setups in real time without watching the chart constantly. 📊 Ideal Use Cases Reversal trading from extremes Mean reversion strategies Timing entries/exits during consolidations Momentum confirmation for breakouts
Индикатор Pine Script®
от grigory84
Linear Regression Trendline on Close This indicator draws a linear regression trendline that connects the closing prices of the last N candles, where N is a user-defined input. 🔹 Key Features: Uses least-squares linear regression to fit a straight line to recent closes Automatically adapts to any timeframe (5min, 1h, daily, etc.) Input lets you select how many recent candles to include Helps identify short-term trend direction and momentum 🔸 How to Use: Set the "Number of Candles" input to choose how far back the regression line should look The line updates in real time as new candles form Use it to gauge short-term bias, or combine with support/resistance/zones for confirmation 🧠 Tip: Increase the number of candles for smoother trends; decrease for more reactive trendlines.
Индикатор Pine Script®
от Blu_Dragon
CPR-Based Fib S/R with Circles by Arthavidhi📌 **CPR-Based Fibonacci S/R with Circles – Description** This indicator combines the power of **CPR (Central Pivot Range)** and **Fibonacci ratios** to plot highly probable intraday and swing Support/Resistance levels derived from the **daily price structure**. ### 🧠 **How It Works** * It uses the **Daily High, Low, and Close** to calculate the **Pivot Point** (P) as: `P = (High + Low + Close) / 3` * Then it calculates the **daily range**: `Range = High - Low` * Using this pivot and range, it derives both **Fibonacci-based Support and Resistance levels**: * **Support levels** at: 0.382, 0.5, 0.618, 1.0, 1.272, 1.618 below pivot * **Resistance levels** at: 0.382, 0.5, 0.618, 1.0, 1.272, 1.618 above pivot These are **plotted as small colored circles** on your chart, with **labels on the left** for easy identification of each Fib level (e.g., "0.382", "1.618"). --- ### 📈 **How to Use It** 🔹 **Intraday or Swing Traders**: * Use these levels to **anticipate reversals**, **breakouts**, or **targets**. * The levels act like a **natural price magnet** — price tends to pause, bounce, or reverse near them. 🔹 **Entry/Exit Zones**: * Combine with price action (like pin bars, engulfing, or inside bars) or volume near these levels to plan entries. * **R1.618 and S1.618** are great for extended targets or aggressive reversal setups. 🔹 **CPR Center Line**: * Acts as a key mean-reversion zone or midline. You can combine this with VWAP or RSI for confirmation. --- ### 🧩 **Best Practices** * **Higher Timeframe Confluence**: Align this with HTF S/R or trendlines. * **Use Alerts**: Combine this with price action alerting tools (manually or with separate indicators). * **Do Not Use Alone**: For best results, combine with a strategy (e.g., Supply/Demand, VWAP bounce, Trendline breaks).
Индикатор Pine Script®
от Arthavidhi
Volume Profile With HVN & LVN detectorVolume Profile Indicator Based on the works of tradeforopp Overview The Volume Profile Indicator is a powerful technical analysis tool that visually represents the distribution of trading volume over price levels within a specified timeframe. It helps traders identify key support and resistance zones, high-volume trading areas, and low-volume rejection zones. The indicator includes customizable settings for Volume Point of Control (VPOC), High Volume Nodes (HVNs), and Low Volume Nodes (LVNs), making it a versatile tool for price action analysis and volume-based decision-making. Key Features 🔹 Customizable Volume Profile Adjustable number of rows to define the resolution of the volume profile. Configurable timeframe aggregation for profile calculation (e.g., Daily, Weekly). Selectable price resolution timeframe for precise profile construction. Extendable volume profile for future sessions. Fully customizable profile color and transparency settings. 🔹 Volume Point of Control (VPOC) Displays the most traded price level within the selected timeframe. Option to extend multiple VPOCs across the chart. Adjustable VPOC line width and color customization. Option to display VPOC labels when working with higher timeframe profiles. 🔹 High Volume Nodes (HVNs) Identifies high-volume price levels where significant trading activity has occurred. Configurable HVN strength to adjust detection sensitivity. Two display modes: Lines: Plots HVN levels as horizontal lines. Areas: Highlights HVN regions with colored boxes. Separate bullish and bearish HVN color settings. 🔹 Low Volume Nodes (LVNs) Identifies low-volume price levels, which often act as rejection zones. Configurable LVN strength to fine-tune detection. Two display modes: Lines: Marks LVN levels as horizontal lines. Areas: Highlights LVN regions with shaded boxes. Separate bullish and bearish LVN color settings. 🔹 Optimized for Performance Efficient use of arrays for data storage and retrieval. Global functions for HVN and LVN detection. Uses security calls to access lower timeframe price and volume data. Use Cases ✅ Identify Support & Resistance Levels The indicator highlights key price levels where significant buying or selling interest exists. ✅ Detect Breakout & Reversal Zones Low-volume areas (LVNs) often indicate price rejection zones, while high-volume areas (HVNs) suggest strong price acceptance zones. ✅ Improve Trade Entries & Exits Traders can use the Volume Point of Control (VPOC) and volume clusters to refine entry and exit points. ✅ Enhance Price Action Strategies By incorporating volume-based analysis, this indicator provides deeper market insights beyond traditional support/resistance and trendlines. Customization & Settings 📌 Volume Profile Settings: Rows: Defines the granularity of the volume profile. Profile Timeframe: Specifies the aggregation period (e.g., Daily, Weekly). Resolution Timeframe: Determines the price resolution for volume analysis. Profile Extend %: Controls how much the profile extends into the next session. 📌 Volume Point of Control (VPOC): Enable/Disable VPOC visualization. Extend past VPOC levels to the right. Display VPOC labels for higher timeframe profiles. Adjustable VPOC line width and color. 📌 High Volume Nodes (HVNs): Enable/Disable HVN detection. Define HVN strength (volume threshold). Choose between Line Mode or Area Mode. Configure bullish and bearish HVN colors. 📌 Low Volume Nodes (LVNs): Enable/Disable LVN detection. Define LVN strength (volume threshold). Choose between Line Mode or Area Mode. Configure bullish and bearish LVN colors.
Индикатор Pine Script®
от Madpuppy88
9
Potential Upcoming Trend ToolThis Script has the specific use of identifying when and how a new trend may start to take form, rather than focusing on how a trend has already formed on a longer term basis. This Script is useful on it's own and not in conjunction with another. It works by taking on the most recent price data rather than a long term historical string. It differs from standard trend following indicators because it's use is far less historical, and more present. It requires less pivot points than normal to be validated as a strong trend. It works by taking local pivot points and fractals to form its parallel basis. The Trend lines will continually move as more recent price action data appears and the the channel will get thinner, until it is clear a trend has arrived and consolidated. The idea really is to see a constantly evolving picture of a sudden change in movement, allowing you to have an earlier eye on what is potentially to come. The faint mid-point line gives a reasonable reading of where you would find yourself halfway within a new trend and will also move inline with the shown trendlines. This allows you to easily track when sentiment and therefore trends are about to change. It's much more useful on lower timeframes because they will often give the first indication something is changing. Colours are fully customisable.
Индикатор Pine Script®
от WillSebastian
1
Valid Pullbacks and Trend by kpt. GonzoThis script helps identify valid pullbacks. Based on the marked pullbacks, it can draw both internal and external structure trendlines. A pullback is marked with a small triangle above or below the candle that created the local high or low. A new local high is marked with a red triangle above the candle if at least one subsequent candle has a low lower than the low of the candle that created the new local high. A new local low is marked with a green triangle below the candle if at least one subsequent candle has a high higher than the high of the candle that created the new local low. Based on the marked local highs and lows, the internal structure trendline is created by simply connecting all highs and lows with a line. The external structure is drawn in a similar way, but only highs and lows that have broken the previous structure are connected. This helps focus on important pivots and better understand the market structure.
Индикатор Pine Script®
от kpt_gonzo
8
Farley's Accumulation-Distribution Accelerator (ADA)Farley's ADA (From The Master Swing Trader) What it is : ADA is designed to track volume oscillations in the market and reduce the impact of shock events. It observes the supply-demand dynamics within the market, which can trigger natural levels of price reversals. How It Works Volume and Price Relationship: ADA measures the lag between price and volume movements. It highlights when volume leads or lags behind price changes, helping traders identify potential reversals or trends. Signal Generation: ADA can generate faster and cleaner signals compared to traditional indicators like On-Balance Volume (OBV). Usage Support and Resistance: ADA formations can help identify support and resistance levels and trendlines. detect natural levels where price reversals might occur. Trend Identification: Look for significant divergences between ADA and price action to identify potential trend reversals. Volume Analysis: Use ADA to anticipate pauses in price movements when volume leads, and expect dynamic trends when ADA significantly moves ahead of price action.
Индикатор Pine Script®
от PhinePhine
Power Trends [UkutaLabs]█ OVERVIEW The Power Trends Indicator is a versatile trading toolkit that offers unique insight into key price levels in the market. This script uses currently relevant price-action information to automatically detect pivot levels and use them to create powerful trendlines. The aim of this script is to improve the trading experience of users by offering a versatile toolkit that can be used in a wide variety of trading strategies to help simplify the complexities of the market. █ USAGE The Power Trends Indicator will automatically identify pivot points in real-time using recent price-action information to ensure that all points being identified are relevant. Using these pivot points, the script then draws powerful trend lines that can be used as levels of resistance and support. To ensure that only the most relevant information is being presented, only the most recent trend lines will be displayed on the user’s charts. As new trend lines are being drawn, older trend lines will become thinner so that traders can identify the most relevant lines at a glance. The price of the most recent high and low pivot points will also be displayed on the chart and can be used as further levels of resistance and support. When a recent pivot level is broken, it will be identified as a Break of Structure. This signifies that there may have been a change in market strength. The Power Trends Indicator also supports multiple time frame mapping, allowing you to mirror the trend lines that would be drawn on higher time frame charts onto lower time frame charts. This feature allows traders to be aware of the market structure of multiple charts at a glance from a single chart. When mirroring some higher time frame trend lines, lines may appear to not align properly with current time frame bars. This is done intentionally to ensure lines are being drawn accurately to their position on the higher time frame charts. █ SETTINGS Current Time Frame • Display (On/Off): Determines whether or not trend lines are drawn from the current time frame. • High Color: Determines the color of trend lines drawn on high pivots. • Low Color: Determines the color of trend lines drawn on low pivots. 5 Minute (Higher Time Frame) • Display (On/Off): Determines whether or not trend lines are drawn from the 5 minute higher time frame. • High Color: Determines the color of trend lines drawn on high pivots from the 5 minute higher time frame. • Low Color: Determines the color of trend lines drawn on low pivots from the 5 minute higher time frame. 15 Minute (Higher Time Frame) • Display (On/Off): Determines whether or not trend lines are drawn from the 15 minute higher time frame. • High Color: Determines the color of trend lines drawn on high pivots from the 15 minute higher time frame. • Low Color: Determines the color of trend lines drawn on low pivots from the 15 minute higher time frame. 30 Minute (Higher Time Frame) • Display (On/Off): Determines whether or not trend lines are drawn from the 30 minute higher time frame. • High Color: Determines the color of trend lines drawn on high pivots from the 30 minute higher time frame. • Low Color: Determines the color of trend lines drawn on low pivots from the 30 minute higher time frame. 60 Minute (Higher Time Frame) • Display (On/Off): Determines whether or not trend lines are drawn from the 60 minute higher time frame. • High Color: Determines the color of trend lines drawn on high pivots from the 60 minute higher time frame. • Low Color: Determines the color of trend lines drawn on low pivots from the 60 minute higher time frame. 240 Minute (Higher Time Frame) • Display (On/Off): Determines whether or not trend lines are drawn from the 240 minute higher time frame. • High Color: Determines the color of trend lines drawn on high pivots from the 240 minute higher time frame. • Low Color: Determines the color of trend lines drawn on low pivots from the 240 minute higher time frame. Daily (Higher Time Frame) • Display (On/Off): Determines whether or not trend lines are drawn from the daily time frame. • High Color: Determines the color of trend lines drawn on high pivots from the daily higher time frame. • Low Color: Determines the color of trend lines drawn on low pivots from the daily higher time frame.
Индикатор Pine Script®
от UkutaLabs
9
GT-FibThis code is declaring the script as an indicator named "GT-Fib" to be plotted on the main chart. The maximum number of lines it can create is limited to 500. The indicator calculates Fibo using trend breaks. If the trend is not broken and the old trend continues, Fibo continues. However, sometimes you will witness that it does not draw Fibo. Indicates that there is no trend break yet. If current Fibo levels are behind us, it may be wise to wait for a trend change. For trend breaks, I partially benefited from the Lux team's trend lines with break indicator. For your information... Settings: A set of user inputs is defined to allow customization. These include lookback period, coefficient, calculation method, and an option to enable/disable backpainting. These inputs help the trader to adapt the script to different market conditions or trading strategies. Style: Colors and visual styles for the indicator are defined here, such as the colors for uptrends and downtrends. Variables Initialization: Various variables are initialized here. This section prepares the script for further calculations. Key concepts include the initialization of upper and lower boundaries, pivot highs (ph), pivot lows (pl), and a few other variables to track peaks and troughs for trendlines. Trendline Peaks and Troughs: The script identifies pivot highs and lows. Whenever a pivot high/low is found, it updates the trendline_top and trendline_bottom respectively. Calculation Method: Based on the user's choice, the script calculates a "cycle" value using one of three methods: ATR, Stdev, or Linreg. Extended Lines: These are dashed lines that get drawn when a pivot high or pivot low is identified. These lines can be used to visualize potential support or resistance areas. plotFibRetracement Function: This function is designed to draw Fibonacci retracement levels between the identified trendline top and bottom. The Fibonacci levels provide potential support and resistance levels that traders often use to make trading decisions. Plotting Fibonacci using Trendline Peaks and Troughs: If both trendline_top and trendline_bottom are not 'na' (not available), the script will draw the Fibonacci retracement using the defined function. How to Use: The script identifies and displays potential support and resistance zones using Fibonacci retracement levels based on the trendline peaks and troughs. Here's a suggested way to use it: Adjust Settings: Depending on the instrument you're trading and the timeframe, you might want to adjust the lookback period, coefficient, and calculation method to fine-tune the script to your needs. Identify Trends: Observe where the pivot highs and lows are formed. The presence of consecutive pivot highs or pivot lows can indicate a prevailing trend. Use Fibonacci Levels: The Fibonacci retracement levels can act as potential support and resistance. For instance: During an uptrend, if prices retract and approach a Fibonacci level, it might act as a support level where price could bounce back. During a downtrend, Fibonacci levels might act as resistance where price could reverse downwards. Combine with Other Indicators: For a more comprehensive analysis and to increase the reliability of trading signals, you can use this script in conjunction with other technical indicators. Remember, like all trading tools and techniques, this script should be used in conjunction with proper risk management. It's also a good idea to test any strategy or tool in a demo environment before applying it to a live account.
Индикатор Pine Script®
от Genesis-Trader
TrendGuard Flag Finder - Strategy [presentTrading] Introduction and How It Is Different In the vast world of trading strategies, the TrendGuard Flag Finder stands out as a unique blend of traditional flag pattern detection and the renowned SuperTrend indicator. - A significant portion of the Flag Pattern detection is inspired by the "Flag Finder" code by @Amphibiantrading, which serves as one of foundational element of this strategy. - While many strategies focus on either trend-following or pattern recognition, this strategy harmoniously combines both, offering traders a more holistic view of the market. - The integration of the SuperTrend indicator not only provides a clear direction of the prevailing trend but also offers potential stop-loss levels, enhancing the strategy's risk management capabilities. AAPL 1D chart ETHBTC 6hr chart Strategy: How It Works The TrendGuard Flag Finder is primarily built on two pillars: 1. Flag Pattern Detection : At its core, the strategy identifies flag patterns, which are continuation patterns suggesting that the prevailing trend will resume after a brief consolidation. The strategy meticulously detects both bullish and bearish flags, ensuring traders can capitalize on opportunities in both rising and falling markets. What is a Flag Pattern? A flag pattern consists of two main components: 1.1 The Pole : This is the initial strong price move, which can be either upwards (for bullish flags) or downwards (for bearish flags). The pole represents a strong surge in price in a particular direction, driven by significant buying or selling momentum. 1.2 The Flag : Following the pole, the price starts consolidating, moving against the initial trend. This consolidation forms a rectangular shape and is characterized by parallel trendlines. In a bullish flag, the consolidation will have a slight downward tilt, while in a bearish flag, it will have a slight upward tilt. How the Strategy Detects Flags: Identifying the Pole: The strategy first identifies a strong price movement over a user-defined number of bars. This movement should meet a certain percentage change to qualify as a pole. Spotting the Flag: After the pole is identified, the strategy looks for a consolidation phase. The consolidation should be counter to the prevailing trend and should be contained within parallel lines. The depth (for bullish flags) or rally (for bearish flags) of this consolidation is calculated to ensure it meets user-defined criteria. 2. SuperTrend Integration : The SuperTrend indicator, known for its simplicity and effectiveness, is integrated into the strategy. It provides a dynamic line on the chart, signaling the prevailing trend. When prices are above the SuperTrend line, it's an indication of an uptrend, and vice versa. This not only confirms the flag pattern's direction but also offers a potential stop-loss level for trades. When combined, these components allow traders to identify potential breakout (for bullish flags) or breakdown (for bearish flags) scenarios, backed by the momentum indicated by the SuperTrend. Usage To use the SuperTrend Enhanced Flag Finder: - Inputs : Begin by setting the desired parameters. The strategy offers a range of user-controlled settings, allowing for customization based on individual trading preferences and risk tolerance. - Visualization : Once the parameters are set, the strategy will identify and visually represent flag patterns on the chart. Bullish flags are represented in green, while bearish flags are in red. - Trade Execution : When a breakout or breakdown is identified, the strategy provides entry signals. It also offers exit signals based on the SuperTrend, ensuring that traders can capitalize on the momentum while managing risk. Default Settings The strategy comes with a set of default settings optimized for general use: - SuperTrend Parameters: Length set to 10 and Factor set to 5.0. - Bull Flag Criteria: Max Flag Depth at 7, Max Flag Length at 10 bars, Min Flag Length at 3 bars, Prior Uptrend Minimum at 9%, and Flag Pole Length between 7 to 13 bars. - Bear Flag Criteria: Similar settings adjusted for bearish patterns. - Display Options: By default, both bullish and bearish flags are displayed, with breakout and breakdown points highlighted.
Стратегия Pine Script®
от PresentTrading
2
RSI based support resistance levelsThis indicator draws support line and resistance lines in the price chart. How ? For drawing the support/resistance line we need to first determine the demand and supply. We are using too-familiar indicator RSI to determine when the script is oversold and overbought. Now oversold (in RSI) is not a point, it’s a zone. The RSI indicator comes below 30, stays there and goes up above 30. Similarly for overbought. Now if you carefully look at the oversold region – the lowest point of the oversold region is the place where the demand came (for surety) and push the indicator (and price) up. Similarly: the highest point of overbought is the place where (for surety) the supply came and push the indicator (and price) down. So that’ the supply / demand line (for surety). In this indicator, based on the RSI we are just drawing support and resistance lines in the chat. That’s all. What is unique ? Trendline concept is not new. RSI is not new. RSI overbought/oversold is not new. There are indicators exist to draw trendlines. Some of them works beautifully. However, none of these, we are aware of, uses RSI to determine it. And, we believe, the most logical way to determine support/resistance is RSI. Note: We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.
Индикатор Pine Script®
от pradipandsuvra
5
Pivot Point SupertrendHello All, There are many types of SuperTrend around. Recently I thought about a Supertrend based on Pivot Points then I wrote "Pivot Point SuperTrend" script. It looks it has better performance on keeping you in the trend more. The idea is behind this script is finding pivot point, calculating average of them and like in supertrend creating higher/lower bands by ATR. As you can see in the algorithm the script gives weigth to past pivot points, this is done for smoothing it a bit. As I wrote above it may keep you in the trend more, lets see an example: As an option the script can show main center line and I realized that when you are in a position, this line can be used as early exit points. (maybe half of the position size) While using Pivot Points, I added support resistance lines by using Pivot Point, as an option the script can show S/R lines: And also it can show Pivot Points: When you changed Pivot Point Period you can see its reaction, in following example PP period is 4 (default value is 2). Smaller PP periods more sensitive trendlines. Alerts added for Buy/Sell entries and Trend Reversals. (when you set alerts use the option " Once Per Bar Close ") ENJOY!
Индикатор Pine Script®
от LonesomeTheBlue
217
trendline function - JD!EXPERIMENTAL! As TV doesn't provide a function to draw lines between points, I wrote a function to do this in one my own indicators. The function itself however can be applied/modified for different use cases, eg. drawing trendlines. In this (proof of concept) example I used it to draw lines based on past high/low pivot points. The inputs required: * an INPUT FUNCTION (in this form, its designed to work with functions that have occasional values and na-values between them, it then connects the non-zero values to form a line) * a BOOL (to indicate if you want to draw only the rising or falling lines) * a DELAY (in this case this is the lookback period for the pivot-points function, this is to compensate the calculation of the past and realtime points) The function returns: * the function to draw the extension from the BASE-LINE to the current time (here this is the connection of the last pivot-point to the current point to bridge the gap of the lookback period, this is NOT REALTIME!) * the function to draw the extension for the current time (here this is the continuation of the line until a new pivot-point is valid, this is DRAWN IN REALTIME!!) * the color of the lines (in this case the lines are only colored (lime or fuchsia) if they either go up or down, else they are invisible, this is to clean up the invalid lines) these output functions can then simply be plotted using the 'plot' function. JD.
Индикатор Pine Script®
от Duyck
26
[LAVA] Relative Price DifferenceThis script shows the relative price difference based off the last high and low, so many bars ago. Bollinger bands are also included by default for closer inspection on the intensity of the movement or the lack thereof. Bollinger bands will follow the smoothed line which will allow the reactionary line to cross the boundary during an intense movement. With the colors selected, a gray color will appear after the color to the zero line to announce a deep correction is possible. Buy/Sell indicators show up as crosses to indicate when the price is moving in a certain direction. Sideways stagnation will have several crosses due to the close proximity to the zero line. I use 21 in the demo here without the bollinger bands or buy/sell indicators to show the power of the script to identify bottoms and tops using the tips and hand drawn trendlines. (This script is actually the same script as before, but listed here as the final version. Hopefully this will be my last update with this script.) If you use and enjoy this script, please like it!
Индикатор Pine Script®
от Ni6HTH4wK
RSI Pivots with Divergence Overlay█ OVERVIEW The RSI Pivots with Divergence Overlay indicator is an advanced tool based on RSI, displaying dynamic bands on the price chart to simplify the identification of overbought and oversold conditions. Pivot points and divergences between them are derived from these bands, providing a comprehensive view of the market and enabling the creation of various trading strategies based on this single indicator. █ CONCEPTS Areas where RSI exits the bands are often reversal points in the market. The concept of this indicator is to highlight places where the probability of a trend reversal increases. Therefore, pivots and divergences have been added to better identify these key moments. Additionally, the bands allow viewing the market context in relation to the RSI indicator, facilitating analysis of momentum and volatility. █ KEY FEATURES Dynamic Bands and RSI Signals: The bands are calculated based on the closing price and RSI value, with dynamic scaling adjusted to market volatility. The upper band corresponds to overbought levels, the lower to oversold, and the midline is their average. The price level relative to the bands serves as a visual RSI signal, indicating potential overbought or oversold conditions. Pivot Points: The indicator identifies local price highs and lows in relation to RSI levels. The pivot level is taken from the high/low of the candle. A high pivot is detected when the high of the candle reaches a local maximum after crossing the upper RSI level (overbought), signaling a potential reversal. A low pivot appears after a local price minimum following a drop below the lower RSI level (oversold), indicating a possible uptrend reversal. The pivot length (default 2 bars) defines the search range for these extremes, meaning that with a length of 2, a potential divergence signal will appear with a 2-candle delay, as this is the minimum time required to confirm a local pivot. Pivot lines are drawn on the chart, and labels display the RSI value (from the close of the candle) and price at the detection moment. Pivot lines disappear after the detection of the next low pivot for lower lines and high pivot for upper lines, but unbreached lines or those with high volume may still serve as support or resistance levels. Divergence Detection: The indicator automatically detects divergences to predict trend changes. Bearish divergence occurs when the price forms a higher high pivot, but the RSI (from the close of the candle) is lower than in the previous pivot, indicating weakening upward momentum and a potential bearish reversal. Bullish divergence appears when the price forms a lower low pivot, but the RSI is higher, suggesting building momentum and a possible bullish reversal. Divergences are marked in pivot labels (e.g., "Bear Div" or "Bull Div") and supported by alerts upon detection. Return Signals: The indicator generates buy and sell signals based on RSI (price) returning to the bands after extreme conditions, independently of pivots and divergences. A buy signal is triggered when RSI (price) crosses above the lower level (exiting oversold), suggesting a potential price rise toward the midline or upper band. A sell signal occurs when RSI (price) falls below the upper level (exiting overbought), indicating a possible price drop toward the lower band. Signals are visualized as arrows (up/down triangles) on the chart, with customizable colors. █ CONFIGURATION The indicator offers extensive customization options: RSI Length (rsiLength): Sets the number of periods used to calculate RSI (default 14). RSI Upper Level (rsiUpper): Defines the overbought threshold (default 70). RSI Lower Level (rsiLower): Defines the oversold threshold (default 30). Band Scaling (scale): Determines the scaling multiplier for bands based on market volatility (default 15.0). SMA Length for Candle Midpoint (length): Number of periods for calculating the moving average of candle midpoints (default 200). This parameter is used to smooth price data, enabling more accurate volatility assessment and band width adjustment to market dynamics. Pivot Length (pivotLength): Sets the range (in bars) for detecting local price extremes (default 2). Pivot Label Offset (pivotLabelOffset): Multiplier for the candle range to position pivot labels (default 0.3). Show Bands (showBands): Enables/disables the display of bands on the chart. Show Fill (showFill): Enables/disables the fill between bands and the midline. Show Pivot Lines (showPivotLines): Enables/disables pivot lines on the chart. Show Pivot Labels (showPivotLabels): Enables/disables labels with RSI and price values at pivots. Show Return Signals (showReturnSignals): Enables/disables the display of buy and sell signals. Colors and Style: Customizable colors for bands, fills, pivot lines, labels, and line widths (default 1). █ USAGE The indicator performs best when combined with other technical analysis tools, such as Fibonacci levels, moving averages, or trendlines, to confirm pivot, divergence, and return signals. It enables traders to identify key reversal points, detect hidden trend weaknesses through divergences, and confirm trade entries with return signals. Usage Examples: Price bounces off a previous pivot with high volume – this increases the probability of a trend change or correction. A similar situation when RSI is outside the bands strengthens the signal. If divergence occurs in addition, we have further confirmation. This can be combined with Fibonacci levels to check if Fibo zones overlap with pivot lines – this may increase the chance of a strong price reaction. █ ALERTS The indicator supports alerts for: Buy and sell signals (RSI returning to bands). Detection of bearish and bullish divergences.
Индикатор Pine Script®
от Uncle_the_shooter
Simplified Market ForecastSimplified Market Forecast Indicator This indicator pairs nicely with the Contrarian 100 MA and can be located here: Overview The "Simplified Market Forecast" (SMF) indicator is a streamlined technical analysis tool designed for traders to identify potential buy and sell opportunities based on a momentum-based oscillator. By analyzing price movements relative to a defined lookback period, SMF generates clear buy and sell signals when the oscillator crosses customizable threshold levels. This indicator is versatile, suitable for various markets (e.g., forex, stocks, cryptocurrencies), and optimized for daily timeframes, though it can be adapted to other timeframes with proper testing. Its intuitive design and visual cues make it accessible for both novice and experienced traders. How It Works The SMF indicator calculates a momentum oscillator based on the price’s position within a specified range over a user-defined lookback period. It then smooths this value to reduce noise and plots the result as a line in a separate lower pane. Buy and sell signals are generated when the smoothed oscillator crosses above a user-defined buy level or below a user-defined sell level, respectively. These signals are visualized as triangles either on the main chart or in the lower pane, with a table displaying the current ticker and oscillator value for quick reference. Key Components Momentum Oscillator: The indicator measures the price’s position relative to the highest high and lowest low over a specified period, normalized to a 0–100 scale. Signal Generation: Buy signals occur when the oscillator crosses above the buy level (default: 15), indicating potential oversold conditions. Sell signals occur when the oscillator crosses below the sell level (default: 85), suggesting potential overbought conditions. Visual Aids: The indicator includes customizable horizontal lines for buy and sell levels, shaded zones for clarity, and a table showing the ticker and current oscillator value. Mathematical Concepts Oscillator Calculation: The indicator uses the following formula to compute the raw oscillator value: c1I = close - lowest(low, medLen) c2I = highest(high, medLen) - lowest(low, medLen) fastK_I = (c1I / c2I) * 100 The result is smoothed using a 5-period Simple Moving Average (SMA) to produce the final oscillator value (inter). Signal Logic: A buy signal is triggered when the smoothed oscillator crosses above the buy level (ta.crossover(inter, buyLevel)). A sell signal is triggered when the smoothed oscillator crosses below the sell level (ta.crossunder(inter, sellLevel)). Entry and Exit Rules Buy Signal (Blue Triangle): Triggered when the oscillator crosses above the buy level (default: 15), indicating a potential oversold condition and a buying opportunity. The signal appears as a blue triangle either below the price bar (if plotted on the main chart) or at the bottom of the lower pane. Sell Signal (White Triangle): Triggered when the oscillator crosses below the sell level (default: 85), indicating a potential overbought condition and a selling opportunity. The signal appears as a white triangle either above the price bar (if plotted on the main chart) or at the top of the lower pane. Exit Rules: Traders can exit positions when an opposite signal occurs (e.g., exit a buy on a sell signal) or based on additional technical analysis tools (e.g., support/resistance, trendlines). Always apply proper risk management. Recommended Usage The SMF indicator is optimized for the daily timeframe but can be adapted to other timeframes (e.g., 1H, 4H) with careful testing. It performs best in markets with clear momentum shifts, such as trending or range-bound conditions. Traders should: Backtest the indicator on their chosen asset and timeframe to validate signal reliability. Combine with other indicators (e.g., moving averages, support/resistance) or price action for confirmation. Adjust the lookback period and buy/sell levels to suit market volatility and trading style. Customization Options Intermediate Length: Adjust the lookback period for the oscillator calculation (default: 31 bars). Buy/Sell Levels: Customize the threshold levels for buy (default: 15) and sell (default: 85) signals. Colors: Modify the colors of the oscillator line, buy/sell signals, and threshold lines. Signal Display: Toggle whether signals appear on the main chart or in the lower pane. Visual Aids: The indicator includes dotted horizontal lines at the buy (green) and sell (red) levels, with shaded zones between 0–buy level (green) and sell level–100 (red) for clarity. Ticker Table: A table in the top-right corner displays the current ticker and oscillator value (in percentage), with customizable colors. Why Use This Indicator? The "Simplified Market Forecast" indicator provides a straightforward, momentum-based approach to identifying potential reversals in overbought or oversold markets. Its clear signals, customizable settings, and visual aids make it easy to integrate into various trading strategies. Whether you’re a swing trader or a day trader, SMF offers a reliable tool to enhance decision-making and improve market timing. Tips for Users Test the indicator thoroughly on your chosen asset and timeframe to optimize settings. Use in conjunction with other technical tools for stronger trade confirmation. Adjust the buy and sell levels based on market conditions (e.g., lower levels for less volatile markets). Monitor the ticker table for real-time oscillator values to gauge market momentum. Happy trading with the Simplified Market Forecast indicator!
Индикатор Pine Script®
от chuckaschultz