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Snaps

Your essential 20 second market digests.
GOLD
Yielding gains

Gold prices drift higher towards their fourth straight week of gains thanks partly to lower yields as investors digest economic news.

FTTUSD
The bank of Bankman-Fried

Sam Bankman-Fried has his eye on yet another crypto exchange as the founder of Huobi global looks to sell his majority stake.

TSLA
The Tesla Bot gets overtaken

This weekend, a working humanoid robot prototype made by a tech company walked across the stage and wowed everyone, and no… it wasn’t from Tesla.

ETHUSD
The final rehearsal

It’s nearly showtime people, please grab your popcorn and head to your seats soon bc ETH 2.0 could be making its debut as soon as September.

RIVN
Steering toward a solid production target

Rivian’s wheels are a lil bit stuck in the supply chain mud, but investors pull the stock out the red after seeing its target-meeting production plans.

SPX
PPI paints a pretty picture

The economic news just keeps on coming and investors keep trying to dissect what it means for rate hikes while oil prices hold up the S&P 500.

NYT
NYT getting noticed

Right, here’s the scoop: the New York Times has attracted attention from an activist investor group that has big plans for its digital strategy.

BTCUSD
Asset managers ignore the rout

Asset managers ain’t fazed by recent market bearishness, still seeing enough demand for BlackRock to up its Bitcoin offering game.

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Ideas

Happy Independence Day 2022Happy Independence Day! (For all the Flag patriots, know that these flag-drawings are just symbolism. These are not Indian National Flags, since they dont hv Ashok Chakra! nor official correct dimensions.) Weekly / hourly Flag patterns ! Pick your Winners! Axis(w)--> Nelco (w)--> Sbi (w)--> Bajaj Electrical (4h)--> Airtel (w)--> Jindal Stainless(1h)--> ARVIND FASHION (w)--> Jubil food->(4h) cnx_pse (w)-> HDFCBANK (w)--> EnginnersIN (4h)--> Deepak Nitrate(w)--> Polycab (w)--> Canara bk (1H)--> Godrej Consumer(2H)--> Titan(15)--> Kotak bk(1H)--> RBL bk (1H)--> M&M FIN (15)--> infy (15)--> Adani Power (15) --> HDFC bk (15)-->
Editors' picks
2
ABC Pattern- Optimal Entry TechniquesHi, This idea is about the very promising ABC pattern and the most optimal ways to enter into this pattern. ✅ABC Pattern This is considered as a continuation pattern. There has to be a strong trend up/down in the background. Wave A: Minor correction against larger trend, usually not more than 5-10% Wave B: Another attempt to push the price higher but could not break the previous highs Wave C: breaks the low A but has less momentum than wave A. Weak stops are taken below A I am presenting four techniques of entering into this pattern, in the anticipation of a continuation of the prevailing trend. The techniques used, however, depend upon the traders' appetite and temperament. Let's start.. ✅Minimum Risk Entry >The entry point is near the low C >C should have less momentum than A >Price barely breaks the low A >There are wicks at the low of Candles at C >Stop is placed under the low of C, so less risk more reward potential ✅Confirmed Entry >Entry is at the break of swing high B >The price makes a higher-high so structural change is confirmed >The break often comes with good volumes & strong closing candles >SL under C is wider than 1 in this case >This technique is used when, in wave C, there are few weak candle closings below A ✅Trendline Entry >Entry is at the break of TL >The break often comes with good volumes & strong closing candles >SL is wider than 1 but lesser than 2. So less riskier >This technique is used when, in wave C, there are few weak candle closings below A ✅ABC-W Entry >A unique entry technique >The price breaks deeply below B and then retests at W >At this point it seems that price will continue down but >The price could not hold down and again breaks out of W, giving us a breakdown failure entry >You would see a usually sharper continuations as many traders, who entered short positions, would start exiting in a hurry Stop loss in all the cases is placed under the low of wave C and trailed as per traders' time horizon. These are relatively small corrective patterns so you can expect sharp continuations and take targets measured equal to the strong impulsive move in the background. I hope it was useful. Thanks for reading. @Bravetotrade
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9
Basics of DerivativesEver wonder what derivatives are? Check out this handy guide! 😉 A derivative is a contract or a product whose value is derived from the value of some other asset known as underlying. A variety of underlying assets serve as the foundation for derivatives. These include: → Financial assets such as Shares, Bonds, and Foreign Exchange. → Metals such as Copper, Zinc, Gold, Silver, etc. → Energy resources such as Crude oil, Natural Gas, etc. → Agricultural products such as Wheat, Cotton, Sugar, Coffee, etc. Cotton Futures Gold Futures Derivative Instruments Forwards It is a contractual agreement between two parties to buy/sell an underlying asset at a certain future date for a particular price that is pre-decided on the date of the contract. Both the contracting parties are committed and are obliged to honor the transaction irrespective of the price of the underlying asset at the time of delivery. The terms and conditions of the contract are customized to cater to the needs of both parties. These are Over-the-counter (OTC) contracts, meaning they are a deal you make directly with a bank or a dealer. As a result, there is always counterparty risk involved. Futures Futures are standardized contracts similar to a forward contract, except that the deal is made through an organized and regulated exchange rather than being negotiated directly between two parties. The arrangements come with a fixed maturity date along with uniform terms for all the parties involved. In simple language, futures are exchange traded forward contracts. The futures contract has little to no counterparty risk since the exchange is acting as a mediatory. Options An Option is a contract that gives the right, but not an obligation, to buy or sell the underlying on or before a fixed date and at a stated price. While the buyer of the option pays the premium and buys the right, the writer/seller of the option receives the premium with the obligation to sell/ buy the underlying asset if the buyer exercises his right. There are two types of options: → American → European American options can be exercised at any time prior to their expiration while the European options can only be exercised on the expiration date. In India, European options are used. Swaps A swap is an agreement made between two parties to exchange cash flows in the future according to a prearranged formula. A random variable (such as an interest rate, foreign exchange rate, commodity price, etc.) is used to determine at least one of these series of cash flows at the moment the contract is initiated. Swaps are, broadly speaking, a series of forward contracts. They help the participants manage risk associated with volatile interest rates, currency exchange rates, and commodity prices. Thanks for reading! Next week we’ll talk about the types of people who use derivatives and why they exist. Stay tuned! See you all next week. 🙂 – Team TradingView Feel free to check us out on Instagram , YouTube , and Telegram for more awesome content! 💘
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Education
GBPUSD bulls step back from key resistance ahead of UK GDPGBPUSD retreats from the 11-week-old descending trend line as the traders await the first readings of the Q2 2022 UK GDP. In addition to the trend line hurdle, the 38.2% Fibonacci retracement of the March-July downside, near 1.2345, guards the pair’s immediate upside. Following that, the 100-DMA hurdle surrounding 1.2435 will be in focus. In a case where the quote remains strong past 1.2435, the odds of witnessing a run-up towards May’s peak of 1.2665 can’t be ruled out. On the contrary, GBPUSD sellers can aim for the 21-DMA support near 1.2075 during further weakness. It’s worth noting, however, that the quote’s downside beneath 1.2075 will have the two-month-old resistance-turned-support line, around 1.1955, as the last defense for buyers. In a case where the quote remains weak past 1.1955, the odds of its south-run towards the yearly low near 1.1860 can’t be ruled out. Overall, GBPUSD bulls are in the driver’s seat ahead of the key UK GDP data. It should be observed that the British economy is likely to witness recession and hence positive surprise will be welcomed with zeal considering the pre-data bullish bias.
Editors' picks
5
The Cup & Handle patternHey everyone! 👋 Today we are going to share an informative write-up about the “Cup and Handle” pattern along with a few exhibits that may help you solidify your understanding of this chart pattern. Please remember this is an educational post to help all of our members better understand concepts used in trading or investing. This in no way promotes a particular style of trading! The post will shed some light on the following topics: → Basics and identification of the pattern → Components → Important aspects What is a Cup and Handle pattern? • The Cup and Handle is a bullish continuation pattern that resembles a cup with a handle. • The cup is visualized as the alphabet "u" and looks like a rounding bottom pattern. • The handle is formed as a range or a smaller “u”. • The cup marks a consolidation phase whereas the handle has a slight downward move, which marks a retest phase. • The handle is meant to signal a buying opportunity. When this part of the price formation is over, the stock may reverse the course and resume the prior uptrend. Components of a Cup and Handle pattern: The cup and handle chart has 3 main components: • Cup • Handle • Neckline Important aspects: 1. Prior Trend: The cup and handle pattern is a bullish continuation pattern, hence the prior trend should be an uptrend. 2. Cup length : In general, the cups with longer and more "U" shaped bottoms that resemble a rounding bottom, provide a stronger signal. This ensures that the cup is a consolidation pattern with valid support at the bottom of the “U”. The perfect pattern would have equal highs on both sides of the cup, but this is not always the case. In general, cups with sharp "V" bottoms should be avoided because there is almost no consolidation in this case. 3. Cup depth: Normally, the cup should not be overly deep. In practice, the cup depth can be up to 60-70% of the last swing move. (This can vary widely, though.) 4. Handle: The handle can occur in the form of a flag, a pennant, or a rectangular consolidation. This is the final retracement phase before the impulsive move higher. By and large, the handle can retrace anywhere between 40-60% of the depth of the cup. 5. Breakout: Bullish confirmation comes when the pattern breaks above the neckline (made using the prior highs) with a good volume. 6. Volume: In general, the volumes should decrease during the formation of the base of the cup as well as during the formation of the handle. Conversely, the volumes should pick up when the stock begins to make its move higher, back up to test the previous high. 7. Target: Using the measurement objective, the target comes out to be equal to the depth of the cup. It can be measured by calculating the distance between the bottom of the base and the neckline. 8. Stop-loss: Ideally, the stop loss is placed at the lowest point of the handle. But if the price oscillated up and down a number of times within the handle, the stop-loss can also be placed below the most recent swing low. Exhibit: Cup and Handle pattern with a failed breakout Thanks for reading! As we mentioned before, this isn't trading advice, but rather information about a tool that many traders use. Hope this was helpful! See you all next week. 🙂 – Team TradingView Feel free to check us out on Twitter , Instagram , YouTube , and Telegram . 💘
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Educational ideas

ABC Pattern- Optimal Entry TechniquesHi, This idea is about the very promising ABC pattern and the most optimal ways to enter into this pattern. ✅ABC Pattern This is considered as a continuation pattern. There has to be a strong trend up/down in the background. Wave A: Minor correction against larger trend, usually not more than 5-10% Wave B: Another attempt to push the price higher but could not break the previous highs Wave C: breaks the low A but has less momentum than wave A. Weak stops are taken below A I am presenting four techniques of entering into this pattern, in the anticipation of a continuation of the prevailing trend. The techniques used, however, depend upon the traders' appetite and temperament. Let's start.. ✅Minimum Risk Entry >The entry point is near the low C >C should have less momentum than A >Price barely breaks the low A >There are wicks at the low of Candles at C >Stop is placed under the low of C, so less risk more reward potential ✅Confirmed Entry >Entry is at the break of swing high B >The price makes a higher-high so structural change is confirmed >The break often comes with good volumes & strong closing candles >SL under C is wider than 1 in this case >This technique is used when, in wave C, there are few weak candle closings below A ✅Trendline Entry >Entry is at the break of TL >The break often comes with good volumes & strong closing candles >SL is wider than 1 but lesser than 2. So less riskier >This technique is used when, in wave C, there are few weak candle closings below A ✅ABC-W Entry >A unique entry technique >The price breaks deeply below B and then retests at W >At this point it seems that price will continue down but >The price could not hold down and again breaks out of W, giving us a breakdown failure entry >You would see a usually sharper continuations as many traders, who entered short positions, would start exiting in a hurry Stop loss in all the cases is placed under the low of wave C and trailed as per traders' time horizon. These are relatively small corrective patterns so you can expect sharp continuations and take targets measured equal to the strong impulsive move in the background. I hope it was useful. Thanks for reading. @Bravetotrade
Editors' picks
Education
9
Basics of DerivativesEver wonder what derivatives are? Check out this handy guide! 😉 A derivative is a contract or a product whose value is derived from the value of some other asset known as underlying. A variety of underlying assets serve as the foundation for derivatives. These include: → Financial assets such as Shares, Bonds, and Foreign Exchange. → Metals such as Copper, Zinc, Gold, Silver, etc. → Energy resources such as Crude oil, Natural Gas, etc. → Agricultural products such as Wheat, Cotton, Sugar, Coffee, etc. Cotton Futures Gold Futures Derivative Instruments Forwards It is a contractual agreement between two parties to buy/sell an underlying asset at a certain future date for a particular price that is pre-decided on the date of the contract. Both the contracting parties are committed and are obliged to honor the transaction irrespective of the price of the underlying asset at the time of delivery. The terms and conditions of the contract are customized to cater to the needs of both parties. These are Over-the-counter (OTC) contracts, meaning they are a deal you make directly with a bank or a dealer. As a result, there is always counterparty risk involved. Futures Futures are standardized contracts similar to a forward contract, except that the deal is made through an organized and regulated exchange rather than being negotiated directly between two parties. The arrangements come with a fixed maturity date along with uniform terms for all the parties involved. In simple language, futures are exchange traded forward contracts. The futures contract has little to no counterparty risk since the exchange is acting as a mediatory. Options An Option is a contract that gives the right, but not an obligation, to buy or sell the underlying on or before a fixed date and at a stated price. While the buyer of the option pays the premium and buys the right, the writer/seller of the option receives the premium with the obligation to sell/ buy the underlying asset if the buyer exercises his right. There are two types of options: → American → European American options can be exercised at any time prior to their expiration while the European options can only be exercised on the expiration date. In India, European options are used. Swaps A swap is an agreement made between two parties to exchange cash flows in the future according to a prearranged formula. A random variable (such as an interest rate, foreign exchange rate, commodity price, etc.) is used to determine at least one of these series of cash flows at the moment the contract is initiated. Swaps are, broadly speaking, a series of forward contracts. They help the participants manage risk associated with volatile interest rates, currency exchange rates, and commodity prices. Thanks for reading! Next week we’ll talk about the types of people who use derivatives and why they exist. Stay tuned! See you all next week. 🙂 – Team TradingView Feel free to check us out on Instagram , YouTube , and Telegram for more awesome content! 💘
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Education
The Powerful Indicator that can lead you to SuccessHello Everyone, Today we are again with a New Topic CRS (Comparative Relative Strength) So Lets Start What is Comparative Relative Strength This chapter will share insights on a valuable lesser-known form of market analysis referred to as comparative relative strength ( CRS ). This is the study of one stock or sector in relation to other sectors or the overall market. This technical study can give a better look at where the money may or may not be flowing. Comparative relative strength is not to be confused with Welles Wilder's relative strength index or Williams Percent “R” indicators. Both of these technical tools are considered oscillators and give an indication if the stock or security is overbought or oversold relative to its past price action over a specific period of time. WHAT IS IT USED FOR? In using CRS , we take one market and divide it into another, and the result is a continuous close line graph. Typically, the numerator is the product that we are comparing against the denominator or benchmark. This technique is used to uncover or detect any hidden weakness or strength when analyzing one company against another in the same sector or comparing an individual stock against its related industry sector. We can also use this technique to compare individual stocks or sectors to the benchmark stock index like the Standard & Poor's ( S&P ) 500, the Dow Jones Industrial Average , the Russell 200, the Nasdaq 100, or the Nasdaq Composite . Why do traders use this analysis method? To see where the money is flowing to help confirm a trading bias. To see if a stock or sector is outperforming compared to its benchmark. To see which are the weakest sectors compared to the benchmark. As an early warning signal. Pair Trading A pair trade simply consists of buying one company and simultaneously selling short another similar or “like” company with the expected results to see the company one bought outperforming the company that was sold. Keep in mind that the key word here is performance. As you will see, markets can move higher or lower, but one product may not move up or down as far or fast compared to the like market. This is why a spread or relative strength chart may show an increase or decrease in the trend. Example of Pair Trading :- We saw a couple of months ago that when Ronaldo moved two Bottles of Coke, The share price of coke started to a downfall in this situation Pepsi will get a much profit than coke so we will select Pepsi to buy CREATING THE CHARTS Setting up your charting platform is relatively easy. A basic relative chart is created as a spread chart. Here are a few reasons why you want to look at a comparative difference chart. Comparative analysis or pairs-trading charts are easy to create. Again, we're only looking at the price relationship of one product against another. Logically, since the price is dictated by the laws of supply and demand , you can anticipate that when one market outperforms another, it will do so over a period of time, which lends itself to a trending condition. As you can see with the Help of the Moving Average and the Breakout of Trend Line in CRS ( Comparative Relative Strength ) This shows with the potential of moving up The dead Company Tata power shows a big bullish than Power grid Trader's Tip 1. When placing a spread trade, one should remember to enter the size of each side of the trade basis, and the notional value of each side of the spread. Spread trades are not necessarily placed on a “one-to-one” basis, such as selling 100 shares and buying 100 shares. In commodity spreads, for example, one platinum contract is 50 ounces and one gold contract is 100 ounces. Therefore, as a correct spread trade, a ratio of two contracts of platinum versus one contract of gold would be the correct trade per spread order. As for the S&P 500 (ES) versus the Nasdaq 100 (NQ), if the E-mini S&P is valued at 1,340 and the index is priced at $50 times the index, then the notional contract value is $67,000. At the same time, if the E-Mini Nasdaq 100 contract is valued at 2605 and the index is priced at $20 times the index, then the notional contract value is $52,100. Therefore, a correct ratio for a spread trade between the ES and the NQ would be four contracts of the S&P versus five contracts of the Nasdaq 2. Thus, using comparative RS is by definition trading metric. Once again, the question begs: How we can make money using this form of analysis? Spread charts or RS comparisons graphs can give you an idea of the best place to put your money, but perhaps it may help you decide where not to put your money. Using trend-line breaks in the RS charts helps us to uncover what we call divergence between the spread chart and absolute prices. Therefore, make sure you set up your trading platform so that you look at the two different markets that you want to compare against, as well as the spread or the RS chart. Two definitions of metrics found in Webster's dictionary are 1. The art of metrical composition, which is pertaining to measurement. 2. Combining form means the science of measuring that specified by the initial element. Automating Signals Most traders and technicians ask themselves what they can do to improve their indicators so they can respond more quickly to changes in market conditions. The obvious answer is the speed at which the data is received. But for end-of-day analysis, speed is not an issue. With thousands of markets to analyze, it would be nearly impossible to detect signals in all the market combinations, a requirement of using RS analysis. Therefore, it is best to take advantage of computer technology and create an automated scanning feature. How do we create this? By using moving averages on the RS charts themselves. As a rule of thumb, when using moving averages, the shorter the time frame, the more sensitive it is to price changes. I find that using a simple moving average for shorter time periods is effective for using longer time frames. Using a weighted moving average to the nearest close is more effective. For instance, if I'm using a 3- period moving average, I would use a simple moving average . If I'm using 12 or more time periods, I would use a weighted close moving average. In the following examples, I am using a 15-period weighted moving average . Comparing two significant charts, So that we could find which gives more profit and which gives less Conclusion Comparative RS analysis demonstrates the concept of sticking with stocks in the strongest-performing groups—that's not to say that you can't make money in an overall rising stock market, but your best rate of return or performance will be with the stocks that are tied to strong industry groups. It also helps identify the weaker sectors, so you may figure out what to avoid. That way you are not putting good money to use on a less productive market. I don't want to make this out to be the end-all form of analysis. As I will discuss, there is no one single holy grail of market analysis tools or techniques; that's why we look for corroborating analysis, such as trying to fine-tune our indicators and finding the need for using a moving average of the spread or RS line in addition to trend line analysis. The coming chapters will show how we can apply other tools and techniques to help pinpoint our price entries as well as exit strategies. Hope you all Like it Bye-Bye for now
Education
How and when should apply which Option's strategyHey everyone! 👋 This post is just for sharing knowledge about Future and Options strategies, First of all, one should build view (bias) on market direction, it may be bullish, bearish, sideways, or there may be some events too, like budget day or quarterly results seasons or may be something else, once view is built then what are the ways to apply futures and options strategies are shown in this post. Options trading may sound risky or complex for beginner investors, and so they often stay away. Some basic strategies using options, can help a novice investor protect their downside and hedge market risk. Options trading is meant to provide a process that defines the selling and buying of options by a trader. The options trading strategies are what make up the options trading. There are various ways that a trader can use the options trading strategies to their advantage. Options trading is a great way to increase your returns as an investor. You will be able to generate profits when the market goes up or when it goes down. However, with so many options trading strategies on offer, you may find it difficult to know which one to choose. This post is showing ideas of the different options strategies and help you choose the right one based on your views. What Are Options Strategies? Options are one of the most flexible and powerful way for investing in the stock markets. Investors can utilize stocks in many ways, including buying and holding onto them to long-term appreciation in value or short-term trading to make a quick buck. However, the stock market is huge, and investors can utilize many sophisticated strategies. The first complex strategy is called a call option. Call options are contracts that enable the holder to purchase a stock or other asset at a specific price within a specific time frame. If the price goes above the strike price, the owner can buy the stock at a lower price and then sell it at a higher price. This can result in a great return, but a loss is possible if the stock doesn't move or move in opposite direction. Types of Options Strategies There are four ways to trade options strategies : call, put, spread, and straddle. First, let's start with the call and put. A call is a contract that gives the owner the right to buy a stock at a specific price on or before the option's expiration date. On the other hand, a put is a contract that gives the owner the right to sell a stock at a specific price on or before the option's expiration date. Spreads and straddles are both strategies used to manage risk. A spread is created by buying the same type of option with the same expiration date but with a different strike price. The strike price is the underlying stock price when the option is exercised. A straddle is created by buying an option with a lower strike price and an option with a higher strike price with the same expiration date. Pros and Cons of Options Strategies Just like selecting a stock to trade or invest in, selecting an options strategy can be a difficult task with risks and potential payouts. The pros and cons of options strategies help you decide which is best for your investing style. Pros: - Lower investment costs​ - Stock options can be used as a way to hedge your investment or portfolio risk Cons: - High risks and losses can occur if you don't research your options strategy​ - Options can only be exercised at the expiration date​ Conclusion Traders can use Options strategies to take advantage of both rising and falling prices of stocks. We hope you have gained a deep understanding of what options strategies are this post. See you all next week. 🙂 RK_Charts Most investors treat trading as a hobby because they have a full-time job doing something else. However, If you treat trading like a business, it will pay you like a business. If you treat like a hobby, hobbies don't pay, they cost you...! Disclaimer. I am not sebi registered analyst. My studies are for educational purpose only. Please Consult your financial advisor before trading or investing.
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'Verse' of 'Reverse' Candlestick Pattern-> Definition of Reversal patterns :- Reversal patterns mean the formation of candlesticks which indicate the end of the existing trend (uptrend or downtrend). When such formation appears in a downtrend, it indicates a bullish reversal or end of selling spree and onset of buying spell. Conversely, when a trend reversal pattern forms in an uptrend, it warns traders of a possible end to bullish run and onset of a slump. Candlestick patterns are visual patterns, helping traders to visualize when market sentiment is shifting, which is why many traders prefer candlestick charts over other trading tools. However, any trend reversal indication must conform with other popular technical trading tools. -> Engulfing Patterns :- An engulfing pattern is a two-candle formation that signals trend reversal, and hence, there are bullish engulfing and bearish engulfing. The bearish engulfing happens in the uptrend. The first candle is a white/green candle that forms in the uptrend. The second candle opens higher than the previous session and then closes below the previous. It indicates that the bullish force made a final thrust before bearish forces took over. The opposite of bearish engulfing is bullish engulfing, and it appears at the bottom of a downtrend. ->Doji :- Doji is a unique formation – a candle with no real-body but with shadows. Doji can take many forms like Doji Star, Dragonfly Doji, Gravestone Doji, Long-legged Doji, and more. It is often associated with market indecision before a trend reversal. Apart from Doji star, Dragonfly Doji and Gravestone Doji also indicate a trend reversal; but to base your trading decisions on them, those must concur with other popular trading tools like moving average, RSI, or moving oscillator. Doji formations often have no real-body, means that the opening and closing price is almost the same, or the market has reached an equilibrium where neither the buying not the selling strengths are strong enough to give it a direction. -> Abandoned Baby :- Apparently, an abandoned baby is a more decisive trend reversal pattern than Doji. It is a rare formation, but when it appears, it is a strong enough indication for traders to alter their position accordingly. Since it is a trend reversal pattern, an abandoned baby can appear in both uptrend or downtrend. An abandoned baby is a Doji star that appears between two candles – the first one appearing in the direction of the trend and the second confirmation candle appearing in the reversed trend, either bullish or bearish. The shadow of the first candle mustn’t overlap the second candle. The star appears above or below the trend, looking abandoned, hence the moniker. -> Hammer Pattern :- Hammer is a single candle pattern that appears in a downtrend implying a trend reversal to bullish. It usually has a small real-body and a long downward shadow. It indicates that the market fished for the bottom but eventually buying forces were strong to push the market up – the result is a bullish or green candle comprising a short real-body. The candle appearing next to the hammer must confirm the trend reversal to form a trading strategy. It must close above the last candle formed before the hammer. The opposite formation of a hammer, an inverted hammer which appears in an uptrend, is also a trend reversal pattern. In this case, the color of the hammer doesn’t matter, but the upper shadow is twice the size of its real body. An inverted hammer requires stronger confirmation candles to ascertain trend reversal. Another similar formation that appears in the candlestick chart is called a hanging man. It is a hammer that appears in uptrend. When the hanging man appears after a rally, it indicates a trend reversal. It needs further confirmation from the following candles appearing in the trendline. If those appearing in a downtrend, the hanging man confirms a downward trend reversal. -> Piercing Line :- A piercing line is a two-candle formation – a bearish long-bodied candle and another bullish candle which opens at a gap and closes at the midway of the bearish candle. Both candles have robust long bodies. It shows that the market started in bearish impulse, but eventually, buyers gained momentum to pull the market up and reserve their position. -> Harami Pattern :- Harami patterns are common and can be both bullish harami and bearish harami. In Japanese, the word translates to pregnant. It is a two-candle formation where the second candle is a small-bodied candle that opens and closes within the body of the first candle, representing a pregnant form. In the case of Harami Cross, the second candle is a Doji star. A Harami is a reversal pattern, but it isn’t as strong as the hammer and needs confirmation from other technical trading tools like RSI, MACD, and the like. My OBSERVATION :- These reversal patterns works very well when used with RSI, In case of indices, when RSI is above 65 or below 35 any such pattern visible indicates reversal and In case of stocks, when RSI is above 70 or below 40 any such pattern visible indicates reversal.
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40
Moods of Candlesticks 🎚How do you read a candle? The top or bottom of the candle body will indicate the open price, depending on whether the asset moves higher or lower during the selected timeframe. If the price trends up, the candlestick is often either green or white and the open price is at the bottom. viceversa if price trends down. Why Candlestick is important? They indicate market turning points early and estimate the direction of the market. Overall, Candlesticks provide unique insights. They display reversal patterns which cannot be seen in other types of charts. They can be used in all kinds of markets. Detailed Explanation :- Real Bodies Each candlestick is composed of a real body and two wicks (which are also called shadows or tails). The real body is the substantial part of the candle. It reflects the difference between the open and close price for that period. The open and close prices are the first and last transaction prices for that time period. When there is no real body or the real body is very small, it means the open and close prices were the same or almost the same. The real bodies are typically one solid color, though they may also be hollow, with only their edges displaying a color. Their coloring depends in part on the color scheme used by your charting platform, but white/black and green/red are commonly utilized. A white or green candle means the price finished higher over that time period. Because the closing price is higher than the open price, the bottom of the real body represents the open price and the top of the real body represents the close price. A black or red candle means the price finished lower over that time period. Therefore, the top of the real body is the open price and the bottom of the real body is the close price for that time period.​ Wicks or Shadows The wicks or shadows—the thin lines above and below the real body—represent the movements above and below the open and close prices. The highest part of the wick on top of the real body marks the high price for that period. If there is no upper wick, then the top of the real body was also the highest price during that period. The lowest part of the wick on the bottom of the real body marks the low price for that period. If there is no lower wick, then the bottom of the real body was also the lowest price during that period. The difference between the high and low prices is the price range for the period.
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Education
13
HOW TO AVOID FAKEOUTS AND PROTECT YOUR CAPITALTaking A Right Breakout Trade Can Be Really Benifical, But What If It Is A Fake Breakout , Than It Will Be A Real Pain .... There Is No Way One Can Completely Avoid All The False Breakout , But It Is Possible To Avoid Most Of Them With Certain Strategies ,Which We Are Going To Talk About In This Post . . So, Lets See How To Not Trade A Breakout And Avoid Fake Breakouts... . . . Types Of Breakout :- Trendline Breakouts Pattern Breakouts (Parallel Channel ,Triangle.....) All Time High Breakouts Support And Resistance Breakout These Are The Basic Types Of Breakouts That Are Majorily Traded Around The World .So We Will Countine Our Discussion Taking Above Types Into Consideration . Breakout :- When The Price Of A Particular Stocks Closes Above A Price Zone (Support & Resistance ) Which Is Previously Tested By The Stocks Many Times . Fake-Breakout :-When The Price Of A Particular Stocks Fails To Sustain Its Position Above The Support Or Resistance Level And A End Up With A Reversal .A False Breakout Happens When There Are Not Enough Buyers To Continue The Trend In Breakout Direction. **************************** Look For These Things To Make Your Breakout Successful Candlestick Pattern Volume RSI Indices Support And Resistance . . . Candle Stick Assuming that you already know about the bacis of candle , look if there is bullish or bearish candles at the time of breakout . . . Rsi check the levels of rsi , check wheather if it is in the overbought(>80) region or oversold(<20) region . RSI below 40 a good for breakout , and above 70 is unhealthy for a breakout . Also check for the divergence RSI indicating . . . . Volume Look for volume buildup at the time of breakout Indices You Can Also Look For Nifty Or Bank Nifty Index Or Particular Sectoral Index Like If You Are Planning To Take A Breakout Trade In Hdfc Than Look At The Charts Of Banknifty Also , Like If It Bullish Or Not , If It Bearish Than Dont Take Trade With Your Full Capital Instead Trade With 50% And Add Another 50% At The Of Retest Or Look For Pullback At Lower Timeframe , Assuming All Above Factors Candlestick, Rsi, Volume Are Favouring The Breakout . Support And Resistance Instead of drawing a suppport and resistance a single flat line always draw a price zone indicating support and resistance zone covering the shadows of the candle You Can Also Use Ema And Couple It With The Above Factor To Add A Extra Confidence To Your Analysis . . Some Other Key Factors ... 1)Market Will Give You Infinte Oppourtunities So Dont Take Trade Based On Emotions . 2)Dont Enter A Trade If Your Price Is Already Went High . 3)If Price Is Moving Rapidly In One Direction And Then Breakout Happens Than Wait For A Reversal And If The Price Consolidate On Lower Time Frame Berfore The Breakout And Then Gives A Breakout There Are Less Chances That It Will Retest The Breakout Levels So Enter As Soon As You Got The Opppourtunity 4) Last but not least never stop learning and keep grinding HOPE YOU HAVE ENJOYED THE POST , WISH YOU A HAPPY TRADING JOURNEY AHEAD
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Education
103
Double Bollinger Band Strategy :Double Bolliger band Strategy : Tried to put in best easy way in the chart and simple explanation below : What we need : Two Bollinger Bands 1. Length 20 and StdDev 1 2. Length 20 and StdDev 3 Confirmation with indicators should be in same trend with candle stick trend 1. RSI (For trend identification) 2. Stoch (Entry and Exit confirmations / Overbought and Oversold confirmations) Risk Reward Ratio : 1:2 or 1:1.5 or as per your risk appetite, above ones shown with 1: 2 RR Rules of the game : When ever candle stick crosses above/below BB with StdDev 1, that’s the entry. Any candle after this should be used as entry point above the earlier candle which crossed BB with StdDev 1, stop loss should be the candle stick (candle stick which crossed) high or low (sell/buy respectively) or middle line of Bollinger band which ever are nearer. Take profit is 1 : 2 or as per the risk appetite. Avoid when : • Long wicks or long candles which crossed the BB with StdDev 1 • If the candle stick trend is not matching with RSI/Stoch (all should be in following same trend path) • If we don’t get entry within 2 candle sticks after the candle stick which crossed above/below BB with Std Dev 1 Stop Loss : Stop loss is the key here, please do not enter unless you understand how to calculate stop loss. Calculate Stop loss first before entry and it should be minimal say not beyond 40 points in Nifty as an example / acceptable loss in above example chart. Result : Out of 7 entries 1 hit SL while 6 won. 7 wins with 80 points each vs 1 SL with 40 points make to 520 points gain overall. Please do let me know if you have any questions would be happy to respond. Please do like and share this idea. Thanks Disclaimer : This analysis/strategy is only for educational purpose and not be considered as any trading idea/tip. Please consult your financial advisor before you take any trade and we are no way responsible for your profits/losses. Thank you!
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Education
252
Options - Best & Worst Trading InstrumentOptions (Index & stock) have been double edged sword. In the hands of experienced traders, it has resulted into multi fold growth of capital but at the same time for beginners or new traders, it has been capital killer. Over the last 5 years, I have had opportunity to speak to hundreds of traders most of which have lost their hard earned money by trading options. Some of them have even gone to extent that they borrowed money from friends or banks to trade and only to lose it all by gambling in options. Lets review some of important factors which has given helped experienced traders earn lakhs or even crore daily from options while most are just losing out their capital. Factors resulting in losses for New Traders. 1. Lack of Technical Knowledge Most of so called traders ignore the importance of Technical Analysis and directly jump into option trading. Most are either following news or tips from various platform with zero understanding of when to trade, when to book profit & most of all when to book loss. Its like jumping into water without knowing how to swim. Technical Analysis understanding is very important as it will give an edge to trader and help them analyze key factors related to entry, stop loss & target. Even though their is no 100% success formula in trading but having correct knowledge can increase your success chances from 50% to 70-80%. 2. Random Trading Random or boredom trading is also another factor for failure of most option traders. Market gives us 1-2 good trading opportunity but many of us are part time traders who want to earn from market based on our availability and do not wish to wait for right opportunity given by market. Some will start the day with proper plan and only to get bored after couple of hours and then they will start trading randomly. 3. No Risk Management The most key aspect for a good trader is risk management. But all new option traders will initiate trade first and then think about SL/Target. They have no knowledge about position sizing and will risk all the capital on a hero or zero trade on weekly expiry. Most of new traders will keep their losing trades with the hope of recovery while book small profits due to fear of losing. 4. Use of High Leverage Unfortunately their are new trading platforms which float rules set by SEBI and provide High Leverage to attract new clients. People with small capital of 10-20K can buy 2-5 lots on an index option which can erode their capital in just 1-2 trades. Leverage trading can accelerate your losses 5-10 times which is another blunder for new traders. 5. Social Media Influence Nowadays we regularly see people making lakhs or crores of profits on daily basis and all social media platforms are full of such screenshots. Many of them may be great traders who are actually making money and others may have just put a doctored screenshot but this influence/attract new traders to directly jump into Option trading with the hope that they will also replicate this success. New Option traders completely ignore the hard work, analysis & planned work done by most successful traders and they only focus on money aspect which is main reason for their downfall. 6. Get Rich Quick Mentality Every one of us want to earn money and have luxurious life. But most of us forget about hard work & practice which is required to reach their. Everyone is now directly jumping into Option trading with mindset to double or triple their capital in a short span without even putting a month of effort. When I have discussed expected monthly returns by most new Option traders, most common answer is 30-40% return on the capital in a month which translate into 350-500% return in a year. When we get 5-6% return in a year from fixed deposits, people are not happy with 5-7% return per month from trading. Experienced Traders on other hand have following attributes which makes them winner. 1. Technical Expertise All pro traders have a setup, strategy or proper knowledge of Technical Analysis which they have practiced over and over again for many years. It is not about having hundred strategies but have 2-3 strategies which you have practiced countless times in Live Market. 2. Trading Plan All good traders have a plan w.r.t. maximum number of trades in a day/week/month. Maximum loss or profit their are willing to take before they close the system. They have understood that it is important to stick to a plan for long term success in trading. 3. Only Trade Right Opportunities Patience is the key in trading and experienced traders knows this well. They wait for stock/index to come to their defined levels & form right setup before they initiate the trade. They are like sniper who patiently wait till all the factors are right to take the shot. 4. Focus on Risk Management Risk management is by far most crucial aspect of trading. Importance of Risk Management is only understood by those who have been in market for some time. Although most think that it is the winning strategy of setup which will earn your money but only few focus on psychology building which include not taking revenge trade, do proper position sizing so that you are not under influence of fear or greed. In the end, I only want to pass the message that Option trading is the last instrument which a new trader should jump into. Anyone starting trading should start with Equity as it has less volatility compared to Options and person can try their strategies for smaller risks. Do you resonate with any of the factors above? Share your inputs on how you have grown to be a successful Option Trader. Thanks Piyush Gupta Learn & Earn
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Education
51

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Pine Scripts

Bjorgum Double Tap█   OVERVIEW Double Tap is a pattern recognition script aimed at detecting Double Tops and Double Bottoms. Double Tap can be applied to the broker emulator to observe historical results, run as a trading bot for live trade alerts in real time with entry signals, take profit, and stop orders, or to simply detect patterns. █   CONCEPTS How Is A Pattern Defined? Doubles are technical formations that are both reversal patterns and breakout patterns. These formations typically have a distinctive “M” or a “W” shape with price action breaking beyond the neckline formed by the center of the pattern. They can be recognized when a ​pivot fails to break when tested for a second time and the retracement that follows breaks beyond the key level opposite. This can trap entrants that were playing in the direction of the prior trend. Entries are made on the breakout with a target projected beyond the neckline equal to the height of the pattern. Pattern Recognition Patterns are recognized through the use of ​zig-zag; a method of filtering price action by connecting swing highs and lows in an alternating fashion to establish trend, ​support and resistance, or derive shapes from price action. The script looks for the highest or lowest point in a given number of bars and updates a list with the values as they form. If the levels are exceeded, the values are updated. If the direction changes and a new significant point is made, a new point is added to the list and the process starts again. Meanwhile, we scan the list of values looking for the distinctive shape to form as previously described. █   STRATEGY RESULTS Back Testing Historical back testing is the most common method to test a strategy due in part to the general ease of gathering quick results. The underlying theory is that any strategy that worked well in the past is likely to work well in the future, and conversely, any strategy that performed poorly in the past is likely to perform poorly in the future. It is easy to poke holes in this theory, however, as for one to accept it as gospel, one would have to assume that future results will match what has come to pass. The randomness of markets may see to it otherwise, so it is important to scrutinize results. Some commonly used methods are to compare to other markets or benchmarks, perform statistical analysis on the results over many iterations and on differing datasets, walk-forward testing, out-of-sample analysis, or a variety of other techniques. There are many ways to interpret the results, so it is important to do research and gain knowledge in the field prior to taking meaningful conclusions from them. 👉  In short, it would be naive to place trust in one good backtest and expect positive results to continue. For this reason, results have been omitted from this publication. Repainting Repainting is simply the difference in behaviour of a strategy in real time vs the results calculated on the historical dataset. The strategy, by default, will wait for confirmed signals and is thus designed to not repaint. Waiting for bar close for entires aligns results in the real time data feed to those calculated on historical bars, which contain far less data. By doing this we align the behaviour of the strategy on the 2 data types, which brings significance to the calculated results. To override this behaviour and introduce repainting one can select "Recalculate on every tick" from the properties tab. It is important to note that by doing this alerts may not align with results seen in the strategy tester when the chart is reloaded, and thus to do so is to forgo backtesting and restricts a strategy to forward testing only. 👉  It is possible to use this script as an indicator as opposed to a full strategy by disabling "Use Strategy" in the "Inputs" tab. Basic alerts for detection will be sent when patterns are detected as opposed to complex order syntax. For alerts mid-bar enable "Recalculate on every tick" , and for confirmed signals ensure it is disabled. █   EXIT ORDERS Limit and Stop Orders By default, the strategy will place a stop loss at the invalidation point of the pattern. This point is beyond the pattern high in the case of Double Tops, or beneath the pattern low in the case of Double Bottoms. The target or take profit point is an equal-legs measurement, or 100% of the pattern height in the direction of the pattern bias. Both the stop and the limit level can be adjusted from the user menu as a percentage of the pattern height. Trailing Stops Optional from the menu is the implementation of an ATR based trailing stop. The trailing stop is designed to begin when the target projection is reached. From there, the script looks back a user-defined number of bars for the highest or lowest point +/- the ATR value. For tighter stops the user can look back a lesser number of bars, or decrease the ATR multiple. When using either Alertatron or Trading Connector, each change in the trail value will trigger an alert to update the stop order on the exchange to reflect the new trail price. This reduces latency and slippage that can occur when relying on alerts only as real exchange orders fill faster and remain in place in the event of a disruption in communication between your strategy and the exchange, which ensures a higher level of safety. 👉  It is important to note that in the case the trailing stop is enabled, limit orders are excluded from the exit criteria. Rather, the point in time that the limit value is exceeded is the point that the trail begins. As such, this method will exit by stop loss only. █   ALERTS Five Built-in 3rd Party Destinations The following are five options for delivering alerts from Double Tap to live trade execution via third party ​API solutions or chat bots to share your trades on social media. These destinations can be selected from the input menu and alert syntax will automatically configure in alerts appropriately to manage trades. Custom JSON JSON, or JavaScript Object Notation, is a readable format for structuring data. It is used primarily to transmit data between a server and a web application. In regards to this script, this may be a custom intermediary web application designed to catch alerts and interface with an exchange ​API. The JSON message is a trade map for an application to read equipped with where its been, where its going, targets, stops, quantity; a full diagnostic of the current state and its previous state. A web application could be configured to follow the messages sent in this format and conduct trades in sync with alerts running on the TV server. Below is an example of a rendered JSON alert: { "passphrase": "1234", "time": "2022-05-01T17:50:05Z", "ticker": "ETHUSDTPERP", "plot": { "stop_price": 2600.15, "limit_price": 3100.45 }, "strategy": { "position_size": 0.1, "order_action": "buy", "market_position": "long", "market_position_size": 0, "prev_market_position": "flat", "prev_market_position_size": 0 } } Trading Connector Trading Connector is a third party fully autonomous Chrome extension designed to catch alert webhooks from TradingView and interface with MT4/MT5 to execute live trades from your machine. Alerts to Trading Connector are simple; just select the destination from the input drop down menu, set your ticker in the "TC Ticker" box in the "Alert Strings" section and enter your URL in the alert window when configuring your alert. Alertatron Alertatron is an automated algo platform for cryptocurrency trading that is designed to automate your trading strategies. Although the platform is currently restricted to crypto, it offers a versatile interface with high flexibility syntax for complex market orders and conditions. To direct alerts to Alertatron, select the platform from the 3rd party drop down, configure your ​API key in the ”Alertatron Key” box and add your URL in the alert message box when making alerts. 3 Commas 3 Commas is an easy and quick to use click-and-go third party crypto ​API solution. Alerts are simple without overly complex syntax. Messages are simply pasted into alerts and executed as alerts are triggered. There are 4 boxes at the bottom of the "Inputs" tab where the appropriate messages to be placed. These messages can be copied from 3 Commas after the bots are set up and pasted directly into the settings menu. Remember to select 3 Commas as a destination from the third party drop down and place the appropriate URL in the alert message window. Discord Some may wish to share their trades with their friends in a Discord chat via webhook chat bot. Messages are configured to notify of the pattern type with targets and stop values. A bot can be configured through the integration menu in a Discord chat to which you have appropriate access. Select Discord from the 3rd party drop down menu and place your chat bot URL in the alert message window when configuring alerts. 👉  For further information regarding alert setup, refer to the platform specific instructions given by the chosen third party provider. █   IMPORTANT NOTES Setting Alerts For alert messages to be properly delivered on order fills it is necessary to place the following placeholder in the alert message box when creating an alert. {{strategy.order.alert_message}} This placeholder will auto-populate the alert message with the appropriate syntax that is designated for the 3rd party selected in the user menu. Order Sizing and Commissions The values that are sent in alert messages are populated from live metrics calculated by the strategy. This means that the actual values in the "Properties" tab are used and must be set by the user. The initial capital, order size, commission, etc. are all used in the calculations, so it is important to set these prior to executing live trades. Be sure to set the commission to the values used by the exchange as well. 👉  It is important to understand that the calculations on the account size take place from the beginning of the price history of the strategy. This means that if historical results have inflated or depleted the account size from the beginning of trade history until now, the values sent in alerts will reflect the calculated size based on the inputs in the "Properties" tab. To start fresh, the user must set the date in the "Inputs" tab to the current date as to remove trades from the trade history. Failure to follow this instruction can result in an unexpected order size being sent in the alert. █   FOR PINECODERS  • With the recent introduction of matrices in Pine, the script utilizes a matrix to track ​pivot points with the bars they occurred on, while tracking if that ​pivot has been traded against to prevent duplicate detections after a trade is exited.  • Alert messages are populated with placeholders ; capability that previously was only possible in alertcondition() , but has recently been extended to `strategy.*()` functions for use in the `alert_message` argument. This allows delivery of live trade values to populate in strategy alert messages.  • New arguments have been added to strategy.exit() , which allow differentiated messages to be sent based on whether the exit occurred at the stop or the limit. The new arguments used in this script are `alert_profit` and `alert_loss` to send messages to Discord
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Pine Script™ strategy
37
Fourier Extrapolator of Price w/ Projection Forecast [Loxx]Due to popular demand, I'm pusblishing Fourier Extrapolator of Price w/ Projection Forecast.. As stated in it's twin indicator, this one is also multi-harmonic (or multi-tone) trigonometric model of a price series xi, i=1..n, is given by: xi = m + Sum( a*Cos(w*i) + b*Sin(w*i), h=1..H ) Where: xi - past price at i-th bar, total n past prices; m - bias; a and b - scaling coefficients of harmonics; w - frequency of a harmonic ; h - harmonic number; H - total number of fitted harmonics. Fitting this model means finding m, a, b, and w that make the modeled values to be close to real values. Finding the harmonic frequencies w is the most difficult part of fitting a trigonometric model. In the case of a Fourier series, these frequencies are set at 2*pi*h/n. But, the Fourier series extrapolation means simply repeating the n past prices into the future. This indicator uses the Quinn-Fernandes algorithm to find the harmonic frequencies. It fits harmonics of the trigonometric series one by one until the specified total number of harmonics H is reached. After fitting a new harmonic , the coded algorithm computes the residue between the updated model and the real values and fits a new harmonic to the residue. see here: A Fast Efficient Technique for the Estimation of Frequency , B. G. Quinn and J. M. Fernandes, Biometrika, Vol. 78, No. 3 (Sep., 1991), pp . 489-497 (9 pages) Published By: Oxford University Press The indicator has the following input parameters: src - input source npast - number of past bars, to which trigonometric series is fitted; Nfut - number of predicted future bars; nharm - total number of harmonics in model; frqtol - tolerance of frequency calculations. The indicator plots two curves: the green/red curve indicates modeled past values and the yellow/fuchsia curve indicates the modeled future values. The purpose of this indicator is to showcase the Fourier Extrapolator method to be used in future indicators.
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Pine Script™ indicator
28
VisibleChart█   OVERVIEW This library is a Pine programmer’s tool containing functions that return values calculated from the range of visible bars on the chart. This is now possible in Pine Script™ thanks to the recently-released chart.left_visible_bar_time and chart.right_visible_bar_time built-ins, which return the opening time of the leftmost and rightmost bars on the chart. These values update as traders scroll or zoom their charts, which gives way to a class of indicators that can dynamically recalculate and draw visuals on visible bars only, as users scroll or zoom their charts. We hope this library's functions help you make the most of the world of possibilities these new built-ins provide for Pine scripts. For an example of a script using this library, have a look at the Chart ​VWAP indicator. █   CONCEPTS Chart properties The new chart.left_visible_bar_time and chart.right_visible_bar_time variables return the opening time of the leftmost and rightmost bars on the chart. They are only two of many new built-ins in the `chart.*` namespace. See this blog post for more information, or look up them up by typing "chart." in the Pine Script™ Reference Manual . Dynamic recalculation of scripts on visible bars Any script using chart.left_visible_bar_time or chart.right_visible_bar_time acquires a unique property, which triggers its recalculation when traders scroll or zoom their charts in such a way that the range of visible bars on the chart changes. This library's functions use the two recent built-ins to derive various values from the range of visible bars. Designing your scripts for dynamic recalculation For the library's functions to work correctly, they must be called on every bar. For reliable results, assign their results to global variables and then use the variables locally where needed — not the raw function calls. Some functions like `barIsVisible()` or `open()` will return a value starting on the leftmost visible bar. Others such as `high()` or `low()` will also return a value starting on the leftmost visible bar, but their correct value can only be known on the rightmost visible bar, after all visible bars have been analyzed by the script. You can plot values as the script executes on visible bars, but efficient code will, when possible, create resource-intensive labels, lines or tables only once in the global ​scope using var , and then use the setter functions to modify their properties on the last bar only. The example code included in this library uses this method. Keep in mind that when your script uses chart.left_visible_bar_time or chart.right_visible_bar_time , your script will recalculate on all bars each time the user scrolls or zooms their chart. To provide script users with the best experience you should strive to keep calculations to a minimum and use efficient code so that traders are not always waiting for your script to recalculate every time they scroll or zoom their chart. Another aspect to consider is the fact that the rightmost visible bar will not always be the last bar in the dataset. When script users scroll back in time, a large portion of the time series the script calculates on may be situated after the rightmost visible bar. We can never assume the rightmost visible bar is also the last bar of the time series. Use `barIsVisible()` to restrict calculations to visible bars, but also consider that your script can continue to execute past them. █   FUNCTIONS The library contains the following functions: barIsVisible()   Condition to determine if a given bar is within the users visible time range.   Returns: (bool) True if the the calling bar is between the `chart.left_visible_bar_time` and the `chart.right_visible_bar_time`. high()   Determines the value of the highest `high` in visible bars.   Returns: (float) The maximum high value of visible chart bars. highBarIndex()   Determines the `bar_index` of the highest `high` in visible bars.   Returns: (int) The `bar_index` of the `high()`. highBarTime()   Determines the bar time of the highest `high` in visible bars.   Returns: (int) The `time` of the `high()`. low()   Determines the value of the lowest `low` in visible bars.   Returns: (float) The minimum low value of visible chart bars. lowBarIndex()   Determines the `bar_index` of the lowest `low` in visible bars.   Returns: (int) The `bar_index` of the `low()`. lowBarTime()   Determines the bar time of the lowest `low` in visible bars.   Returns: (int) The `time` of the `low()`. open()   Determines the value of the opening price in the visible chart time range.   Returns: (float) The `open` of the leftmost visible chart bar. close()   Determines the value of the closing price in the visible chart time range.   Returns: (float) The `close` of the rightmost visible chart bar. leftBarIndex()   Determines the `bar_index` of the leftmost visible chart bar.   Returns: (int) A `bar_index`. rightBarIndex()   Determines the `bar_index` of the rightmost visible chart bar.   Returns: (int) A `bar_index` bars()   Determines the number of visible chart bars.   Returns: (int) The number of bars. volume()   Determines the sum of volume of all visible chart bars.   Returns: (float) The cumulative sum of volume. ohlcv()   Determines the open, high, low, close, and volume sum of the visible bar time range.   Returns: ( ) A tuple of the OHLCV values for the visible chart bars. Example: open is chart left, high is the highest visible high, etc. chartYPct(​pct)   Determines a price level as a percentage of the visible bar price range, which depends on the chart's top/bottom margins in "Settings/Appearance".   Parameters:      pct : (series float) Percentage of the visible price range (50 is 50%). Negative values are allowed.   Returns: (float) A price level equal to the `pct` of the price range between the high and low of visible chart bars. Example: 50 is halfway between the visible high and low. chartXTimePct(​pct)   Determines a time as a percentage of the visible bar time range.   Parameters:      pct : (series float) Percentage of the visible time range (50 is 50%). Negative values are allowed.   Returns: (float) A time in UNIX format equal to the `pct` of the time range from the `chart.left_visible_bar_time` to the `chart.right_visible_bar_time`. Example: 50 is halfway from the leftmost visible bar to the rightmost. chartXIndexPct(​pct)   Determines a `bar_index` as a percentage of the visible bar time range.   Parameters:      pct : (series float) Percentage of the visible time range (50 is 50%). Negative values are allowed.   Returns: (float) A time in UNIX format equal to the `pct` of the time range from the `chart.left_visible_bar_time` to the `chart.right_visible_bar_time`. Example: 50 is halfway from the leftmost visible bar to the rightmost. whenVisible(​src, whenCond, length)   Creates an array containing the `length` last `src` values where `whenCond` is true for visible chart bars.   Parameters:      src : (series int/float) The source of the values to be included.      whenCond : (series bool) The condition determining which values are included. Optional. The default is `true`.      length : (simple int) The number of last values to return. Optional. The default is all values.   Returns: (float ) The array ID of the accumulated `src` values. avg(​src)   Gathers values of the source over visible chart bars and averages them.   Parameters:      src : (series int/float) The source of the values to be averaged. Optional. Default is `close`.   Returns: (float) A cumulative average of values for the visible time range. median(​src)   Calculates the median of a source over visible chart bars.   Parameters:      src : (series int/float) The source of the values. Optional. Default is `close`.   Returns: (float) The median of the `src` for the visible time range. vVwap(​src)   Calculates a volume-weighted average for visible chart bars.   Parameters:      src : (series int/float) Source used for the ​VWAP calculation. Optional. Default is `hlc3`.   Returns: (float) The ​VWAP for the visible time range.
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Pine Script™ library
25
Time█   OVERVIEW This library is a Pine Script™ programmer’s tool containing a variety of time related functions to calculate or measure time, or format time into string variables. █   CONCEPTS `formattedTime()`, `formattedDate()` and `formattedDay()` Pine Script™, like many other programming languages, uses timestamps in UNIX format, expressed as the number of milliseconds elapsed since 00:00:00 UTC, 1 January 1970. These three functions convert a UNIX timestamp to a formatted string for human consumption. These are examples of ways you can call the functions, and the ensuing results: CODE RESULT formattedTime(timenow) >>> "00:40:35" formattedTime(timenow, "short") >>> "12:40 AM" formattedTime(timenow, "full") >>> "12:40:35 AM ​UTC​" formattedTime(1000 * 60 * 60 * 3.5, "HH:mm") >>> "03:30" formattedDate(timenow, "short") >>> "4/30/22" formattedDate(timenow, "medium") >>> ​"Apr​ 30, 2022" formattedDate(timenow, "full") >>> "Saturday, April 30, 2022" formattedDay(timenow, "E") >>> "Sat" formattedDay(timenow, "dd.MM.yy") >>> "30.04.22" formattedDay(timenow, "yyyy.MM.dd G 'at' hh:mm:ss z") >>> "2022.04.30 AD at 12:40:35 UTC" These functions use str.format() and some of the special formatting codes it allows for. Pine Script™ documentation does not yet contain complete specifications on these codes, but in the meantime you can find some information in the The Java™ Tutorials and in Java documentation of its MessageFormat class . Note that str.format() implements only a subset of the MessageFormat features in Java. `secondsSince()` The introduction of varip variables in Pine Script™ has made it possible to track the time for which a condition is true when a script is executing on a realtime bar. One obvious use case that comes to mind is to enable trades to exit only when the exit condition has been true for a period of time, whether that period is shorter that the chart's timeframe, or spans across multiple realtime bars. For more information on this function and varip please see our Using `varip` variables publication. `timeFrom( )` When plotting lines , boxes , and labels one often needs to calculate an offset for past or future end points relative to the time a condition or point occurs in history. Using xloc.bar_index is often the easiest solution, but some situations require the use of xloc.bar_time . We introduce `timeFrom()` to assist in calculating time-based offsets. The function calculates a timestamp using a negative (into the past) or positive (into the future) offset from the current bar's starting or closing time, or from the current time of day. The offset can be expressed in units of chart timeframe, or in seconds, minutes, hours, days, months or years. This function was ported from our Time Offset Calculation Framework . `formattedNoOfPeriods()` and `secondsToTfString()` Our final two offerings aim to confront two remaining issues: How much time is represented in a given timestamp? How can I produce a "simple string" timeframe usable with request.security() from a timeframe expressed in seconds? `formattedNoOfPeriods()` converts a time value in ​ms to a quantity of time units. This is useful for calculating a difference in time between 2 points and converting to a desired number of units of time. If no unit is supplied, the function automatically chooses a unit based on a predetermined time step. `secondsToTfString()` converts an input time in seconds to a target timeframe string in timeframe.period string format. This is useful for implementing stepped timeframes relative to the chart time, or calculating multiples of a given chart timeframe. Results from this function are in simple form, which means they are useable as `timeframe` arguments in functions like request.security() . █   NOTES Although the example code is commented in detail, the size of the library justifies some further explanation as many concepts are demonstrated. Key points are as follows:  • ​Pivot points are used to draw lines from. `timeFrom( )` calculates the length of the lines in the specified unit of time.   By default the script uses 20 units of the charts timeframe. Example: a 1hr chart has arrows 20 hours in length.  • At the point of the arrows `formattedNoOfPeriods()` calculates the line length in the specified unit of time from the input menu.   If “Use Input Time” is disabled, a unit of time is automatically assigned.  • At each ​pivot point a label with a formatted date or time is placed with one of the three formatting helper functions to display the time or date the ​pivot occurred.  • A label on the last bar showcases `secondsSince()` . The label goes through three stages of detection for a timed alert.   If the difference between the high and the open in ticks exceeds the input value, a timer starts and will turn the label red once the input time is exceeded to simulate a time-delayed alert.  • In the bottom right of the screen `secondsToTfString()` posts the chart timeframe in a table. This can be multiplied from the input menu. █   FUNCTIONS formattedTime(timeInMs, format)   Converts a UNIX timestamp (in milliseconds) to a formatted time string.   Parameters:      timeInMs : (series float) Timestamp to be formatted.      format : (series string) Format for the time. Optional. The default value is "HH:mm:ss".   Returns: (string) A string containing the formatted time. formattedDate(timeInMs, format)   Converts a UNIX timestamp (in milliseconds) to a formatted date string.   Parameters:      timeInMs : (series float) Timestamp to be formatted.      format : (series string) Format for the date. Optional. The default value is "yyyy-MM-dd".   Returns: (string) A string containing the formatted date. formattedDay(timeInMs, format)   Converts a UNIX timestamp (in milliseconds) to the name of the day of the week.   Parameters:      timeInMs : (series float) Timestamp to be formatted.      format : (series string) Format for the day of the week. Optional. The default value is "EEEE" (complete day name).   Returns: (string) A string containing the day of the week. secondsSince(cond, resetCond)   The duration in milliseconds that a condition has been true.   Parameters:      cond : (series bool) Condition to time.      resetCond : (series bool) When `true`, the duration resets.   Returns: The duration in seconds for which `cond` is continuously true. timeFrom(from, qty, units)   Calculates a +/- time offset in variable units from the current bar's time or from the current time.   Parameters:      from : (series string) Starting time from where the offset is calculated: "bar" to start from the bar's starting time, "close" to start from the bar's closing time, "now" to start from the current time.      qty : (series int) The +/- qty of units of offset required. A "series float" can be used but it will be cast to a "series int".      units : (series string) String containing one of the seven allowed time units: "chart" (chart's timeframe), "seconds", "minutes", "hours", "days", "months", "years".   Returns: (int) The resultant time offset `from` the `qty` of time in the specified `units`. formattedNoOfPeriods(​ms, unit)   Converts a time value in ​ms to a quantity of time units.   Parameters:      ms : (series int) Value of time to be formatted.      unit : (series string) The target unit of time measurement. Options are "seconds", "minutes", "hours", "days", "weeks", "months". If not used one will be automatically assigned.   Returns: (string) A formatted string from the number of `ms` in the specified `unit` of time measurement secondsToTfString(tfInSeconds, mult)   Convert an input time in seconds to target string TF in `timeframe.period` string format.   Parameters:      tfInSeconds : (simple int) a timeframe in seconds to convert to a string.      mult : (simple float) Multiple of `tfInSeconds` to be calculated. Optional. 1 (no multiplier) is default.   Returns: (string) The `tfInSeconds` in `timeframe.period` format usable with `request.security()`.
Editors' picks
Pine Script™ library
25
Relative Bandwidth FilterThis is a very simple script which can be used as measure to define your trading zones based on volatility. Concept This script tries to identify the area of low and high volatility based on comparison between Bandwidth of higher length and ATR of lower length. Relative Bandwidth = Bandwidth / ATR Bandwidth can be based on either Bollinger Band, Keltner Channel or Donchian Channel. Length of the bandwidth need to be ideally higher. ATR is calculated using built in ATR method and ATR length need to be ideally lower than that used for calculating Bandwidth. Once we got Relative Bandwidth, the next step is to apply Bollinger Band on this to measure how relatively high/low this value is. Overall - If relative bandwidth is higher, then volatility is comparatively low. If relative bandwidth is lower, then volatility is comparatively high. Usage This can be used with your own strategy to filter out your non-trading zones based on volatility. Script plots a variable called "Signal" - which is not shown on chart pane. But, it is available in the data window. This can be used in another script as external input and apply logic. Signal values can be 1 : Allow only Long -1 : Allow only short 0 : Do not allow any trades 2 : Allow both Long and Short
Editors' picks
Pine Script™ indicator
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Breakout Probability (Expo)█ Overview Breakout Probability is a valuable indicator that calculates the probability of a new high or low and displays it as a level with its percentage. The probability of a new high and low is backtested, and the results are shown in a table— a simple way to understand the next candle's likelihood of a new high or low. In addition, the indicator displays an additional four levels above and under the candle with the probability of hitting these levels. The indicator helps traders to understand the likelihood of the next candle's direction, which can be used to set your trading bias. █ Calculations The algorithm calculates all the green and red candles separately depending on whether the previous candle was red or green and assigns scores if one or more lines were reached. The algorithm then calculates how many candles reached those levels in history and displays it as a percentage value on each line. █ Example In this example, the previous candlestick was green; we can see that a new high has been hit 72.82% of the time and the low only 28.29%. In this case, a new high was made. █ Settings Percentage Step The space between the levels can be adjusted with a percentage step. 1% means that each level is located 1% above/under the previous one. Disable 0.00% values If a level got a 0% likelihood of being hit, the level is not displayed as default. Enable the option if you want to see all levels regardless of their values. Number of Lines Set the number of levels you want to display. Show Statistic Panel Enable this option if you want to display the backtest statistics for that a new high or low is made. (Only if the first levels have been reached or not) █ Any Alert function call An alert is sent on candle open, and you can select what should be included in the alert. You can enable the following options: Ticker ID Bias Probability percentage The first level high and low price █ How to use This indicator is a perfect tool for anyone that wants to understand the probability of a breakout and the likelihood that set levels are hit. The indicator can be used for setting a stop loss based on where the price is most likely not to reach. The indicator can help traders to set their bias based on probability. For example, look at the daily or a higher timeframe to get your trading bias, then go to a lower timeframe and look for setups in that direction. ----------------- Disclaimer The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs. My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
Editors' picks
Pine Script™ indicator
61
Point of Control V2 The genesis of this project was to create a POC library that would be available to deliver volume profile information via pine to other scripts of indicators and strategies. This is a republish of an invite only script to open access This is the indicator version of the library function. A few points of significance: - Allows the choice of reset of the study period, day/week or bars. This is simple enough to expand to other conditions - Bar count resets starting from the beginning of the data set (bar index =0) vs bars back from the end of the data set - A 'period' in this context is the time between resets - the start of the POC (eg. start of Day or Week) until it resets (for example at the beginning of a next day or week) - Automates the determination of the increment level rather than the user specifying ticks or price brackets - Does not allow for setting the # of rows and then calculating the implied price increment levels - When a period is complete it is often useful to look back at the POCs of historical periods, or extend them forward. - This script will find the historical POCs around the current price and display them rather than extend all the historical POC lines to the right - This script also looks across all the period POCs and identifies the master POC or what I call the Grand POC, and also the next 3 runner up POCs This indicator is also available as a library. BINANCE:BTCUSDT NSE:NIFTY OANDA:XAUUSD NASDAQ:AAPL TVC:USOIL
Editors' picks
Pine Script™ indicator
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Andean OscillatorThe following script is an original creation originally posted on the blog section of the broker Alpaca. The proposed indicator aims to measure the degree of variations of individual up-trends and down-trends in the price, thus allowing to highlight the direction and amplitude of a current trend. Settings Length : Determines the significance of the trends degree of variations measured by the indicator. Signal Length : Moving average period of the signal line. Usage The Andean Oscillator can return multiple information to the user, with its core interpretation revolving around the bull and bear components. A rising bull component (in green) indicates the presence of bullish price variations while a rising bear component (in red) indicates the presence of bearish price variations. When the bull component is over the bear component market is up-trending, and the user can expect new higher highs. When the bear component is over the bull component market is down-trending, and the user can expect new lower lows. The signal line (in orange) allows a more developed interpretation of the indicator and can be used in several ways. It is possible to use it to filter out potential false signals given by the crosses between the bullish and bearish components. As such the user might want to enter a position once the bullish or bearish component crosses over the signal line instead. Details Measuring the degree of variations of trends in the price by their direction (up-trend/down-trend) can be done in several way. The approach taken by the proposed indicator makes use of exponential envelopes and the naive computation of standard deviation. First, exponential envelopes are obtained from both the regular prices and squared prices, thus giving two upper extremities, and two lower extremities. The bullish component is obtained by first subtracting the upper extremity of the squared prices with the squared upper extremity of regular prices, the square root is then applied to this result. The bearish component is obtained in the same way, but makes use of the lower extremities of the exponential envelopes.
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Pine Script™ indicator
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Auto Trendline Indicator (based on fractals)A tool that automatically draws out trend lines by connecting the most recent fractals. Description: The process of manual drawing out trend lines is highly subjective. Many times, we don’t trade what we see, but what we “want to see”. As a result, we draw lines pointing to the direction that we wishfully want price to move towards. While there are no right/wrong ways to draw trend lines, there are, however, systematic/unsystematic ways to draw trend lines. This tool will systematically draw out trend lines based on fractals. Additional feature: This tool will also plot out symbols (default symbol “X”) to signify points of crossings. This can be useful for traders considering to use trend lines as part of their trading strategies. Here is an interesting observation on the price actions of NASDAQ futures on a 5 second chart during regular trading hours on July 14, 2022. It’s a phenomenon. People like to see straight lines connecting HL/LH, etc., so it's possible for the market as a whole to psychologically react to these lines. However, it is important to note that is is impossible to predict the direction of price. In the case above, price could have tanked below auto-drawn trend line. Fractal based trend lines should only be taken as references and regarded as price levels. No studies have ever proven that the slope of trend lines can indicate price's future direction. More about fractals: To understand more about fractals: www.investopedia.com www.tradingview.com Contrary to what it sounds like, fractal in "technical analysis" does not refer to the recursive self-repeating patterns that appear in nature, such as the mesmerizing patterns found in snowflakes. The Fractal Markets Hypothesis claims that market prices exhibit fractal properties over time. Assuming this assertion to be true, then fractals can be used a tool to represent the chaotic movements of price is a simplified manner. The purpose of this exercise is to take a tool that is readily available (ie. in this case, TradingView’s built-in fractals tool), and to create a newer tool based on it. Parameters: Fractal period (denoted as ‘n’ in code): It is the number of bars bounding a high/low point that must be lower/higher than it, respectively, in order for fractal to be considered valid. Period ‘n’ can be adjusted in this tool. Traditionally, chartists pick the value of 5. The longer it is, the less noise seen on the chart, and the pivot point may also be exhibited in higher timeframes. The drawback is that it will increase the period of lag, and it will take more bars to confirm the printed fractal. Others: Intuitive parameters such as whether to draw historical trend lines, what color to use, which way to extend the lines, and whether or not to show points of crossings.
Editors' picks
Pine Script™ indicator
26

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