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NIFTY
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Hard climbs start years before the crux

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BSE SENSEXSENSEX
S&P 500SPX
Nasdaq CompositeIXIC
UK 100UKX
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INDIABULLS HOUSINGIBULHSGFIN
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STATE BK OF INDIASBIN
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TATA STEEL LTDTATASTEEL
Crypto Market CapTOTAL
BitcoinBTCUSD
EthereumETHUSD
SolanaSOLUSD
UniswapUNIUSD
Luna / U.S. DollarLUNAUSD
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EUR/USDEURUSD
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USD/CNYUSDCNY
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Euro 10YEU10Y
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Japan 10Y YieldJP10Y
UK 10YGB10Y
India 10YIN10Y

Snaps

Your essential 20 second market digests.
NKE
Another bellwether bummer

The economic bellwethers of the world have not fared well this quarter and Nike is no exception, tripping up investors with its disappointing forecast.

BNBUSD
Binance opens the mines

Ex-ETH miners get ready to dust off their pickaxes as Binance announces the grand-opening of its EthereumPoW mining pool.

P911
In this economy?

Porsche’s landmark listing on Thursday somehow manages to out-drive the fire that is the market at the moment.

COIN
Wells Fargo fires at Coinbase

Coinbase is coming under fire from all angles recently and investors aren't sure if they should pay attention or if its just a symptom of a crypto winter.

BBBY
Bed Bath & Beyond the pale

Ah, Bed Bath & Beyond. You need a good old soak in the tub with a glass of wine in hand after the quarter you’ve had, don’t you?

BTCGBP
The British are coming

When people are running to Bitcoin as a ‘safe haven’ from their national currency, it can’t be good.

GBPUSD
Is Liz gilt-y as charged?

The UK’s central bank is intervening to try to calm the market storm caused by new Prime Minister Liz Truss and her tax-cut-heavy economic plan, which crashed sterling earlier this week.

USDCUSD
It’s my way or the highway

The wider stablecoin market is shaking as Binance begins to use its exchange prowess to bolster its own stablecoin.

AAPL
A failed forcast

You know that old saying, all publicity is good publicity? Well, as Apple trends across global news sites on Wednesday, investors aren’t so convinced.

ATOMUSD
Lemme ATOM!

The stars have never looked so bright as Cosmos gets ready to release its ATOM 2.0 token.

URA
Commodities catch a break

Uranium spent much of the last month decoupled from the swoon that equities and bonds markets suffered through, and it could be just the beginning.

ETHUSD
Mev bot gets made

If robots had feelings, we reckon this Ethereum arbitrage bot would be asking for a hug right now.

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Trade ideas

NIFTY in 3-3-5 Corrective Elliot Wave- Overall Bull Trend IntactNIFTY 50 Analysis based on Elliot Wave Theory 1) 5-April-2022 to 17-June-2022: NIFTY 50 formed a 5-wave bearish impulse wave down from 18,100 to 15,175 2) 19-June-2022 to 13-Sept-2022: NIFTY 50 formed a 5-wave bullish impulse wave up from 15,175 to 18,075 3) 18-Aug-2022 to 13-Sept-2022: Waves (4) and (5) of the 5-wave bullish impulse wave were also the beginning of an A-B-C (3-3-5) corrective wave that often forms after a 5-wave impulse wave. On closer viewing, you will notice that Waves (A) and (B) of such A-B-C corrective wave also form 1-2-3 sub-waves wherein sub-waves 1 and 3 were bearish and wave 2 was bullish, thereby confirming the pattern. 4) 13-Sept-2022 to Present Day: Wave (C) of the A-B-C Corrective Wave has formed an Expanded Flat Pattern, i.e. Wave (C) has extended beyond Wave (A). As per Elliot Wave Theory, Wave (C) usually extends to between 100% to 162% of Wave (A), and most often to around 123%, marked by the 1 and 1.618 Fibonnaci Levels drawn. 5) Projection (29-Sept-2022 onwards, possibly 2-3 weeks): For this theory to be confirmed, it is likely that NIFTY 50 will bounce from the 200-EMA support level of around 16,850 towards the 55-EMA (17,100) or 89-EMA (17,200) forming sub-wave (D) of the (C) wave of the A-B-C Corrective Wave, and then re-test the 200-EMA support forming sub-wave (E) of the (C) wave of the A-B-C Corrective Wave. 6) Conclusion: In this manner, a double-bottom off the 200-EMA would also be formed, before NIFTY continues its overall bullish trend with a re-test (and possibly 6th time lucky) or break above 18,100 levels.
Editors' picks
Long
30
Nifty 50 - Educational Analysis on why the 7% drop - ConfluenceThis is an education post of understanding some possible reasons when a correction happens _____________ Few Reasons for Nifty's Bearish Outlook (Short term) 1. Negative RSI Divergence - Price goes up and RSI goes down 2. Break of Rising Wedge Pattern 3. Break of previous swing low (17160) 4. Previous peak rejection making the 18100 as a double top 5. MACD divergence and crossover _____________ Daily Hourly On hourly Time frame 6. Broke a major trendline 7. With a Head and shoulders 8. A rounding top So multiple factors and views indicating - A confluence View
Editors' picks
4
MARUTI: Ascending TriangleThis is also a converging triangle formed with one flat horizontal line on the top & an inclined line meeting at a common point as illustrated in the chart. The flat horizontal line act as a resistance for the prices & the on the inclined line the prices take support. It’s not necessary that the ascending triangle formation takes place only in the bull market, they can be formed in a bearish trend also. Here also you should concern with the key point “The Third Touch”. The five significant points help us to make our decision in a better way. Here, each points suggesting a reversal point & as soon as price got it’s third touch on the inclined supporting line the price shoot up & a breakout happened. The target for this pattern is the maximum vertical range of the triangle. Trading strategy:MARUTI: BUY 9285-75 SL: 9050 TGT: 9545/9850
Editors' picks
Long
17
EURO/USD (Neowave Analysis)FX:EURUSD Hi Everyone Its been a long time almost an year EUR/USD had been falling. We were falling in an structure of L series (mean long term wave ) and recently we have completed L5 a 0.98132. Now its time for an ABC correction structure which we represent with LC1, LC2. ( C stand for correction). Let see structure equation, 1) We are in (LC 1 >) in which we have completed M1 ( m stand for medium term waves) and progressing with M2 (LC 1>M2 ?) 2) Further if we brake down M series you will see s series( s stand for short term wave) (LC 1>M2 > SC 2?) 3 ) This mean after correction wave in wave M2, we will definitely see an 5 or 3 wave structure in s series as long as we are above invalidation levels. Note - This equation is just for your memory. Let me know if this is helpful or not. If you does not understand our coding structure plz check out below chart. Thank You
Editors' picks
Long
2

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Educational ideas

The Top 3 Elements found in all good trading plansHey everyone! 👋 This month, we have been theming our posts around the concept of building a solid trading plan. Our first post asked you to think about the kinds of factors that can predict long-term success. Our second post looked at why trading plans are so important. Both of these posts you can find linked at the end 👇 Having talked about the *what* and the *why*, it’s time to talk about the *how*. Today we will be taking a look at the top 3 elements found in all good trading plans! 1️⃣ Element 1: Every good trading plan knows why it wins. In trading, there are two variables that matter: Bat Rate, and Win / Loss. ► Bat Rate describes what percentage of the time a trade ends up as a win. A trader with a 90% bat rate wins 9 out of every 10 trades. ► Win / Loss describes how big the average win is, relative to the average loss. A trader with a 0.5 Win / Loss takes losses twice the size of his wins. If you multiply these numbers together, you will get an “Expected Value”. For example, a trader with a Bat Rate of 50% (wins half of the time) and a Win / Loss of 1 (Losses the same size as wins) is a perfectly “Breakeven” trader. In order to make money in the long term, all you need to do is make the multiplication of these values be a positive value. The breakeven trader above only needs to win 51% of trades to begin making money, if his W/L remains constant. ☝🏽To get these numbers into positive “expected value” territory, every good trading plan needs to devise a way to systematically find trading opportunities that it thinks have an edge. The inputs of this system are completely up to the trader, but they are typically rooted in repeating price patterns, fundamental observations, macro trends, or other patterns and cycles. Backtesting can be useful here for getting a general idea of whether or not an idea for a trading strategy has borne out to be true over time. In short, no matter what it looks like, good trading plans identify their edge before risking capital. Why start a business without a business plan? 2️⃣ Element 2: Every good trading plan takes into account the emotional character of the trader. This is the hardest element to quantify, but also arguably one of the most important pieces of a good written trading plan - the ability to work around a trader’s individual strengths and weaknesses. This is less important for banks and hedge funds, as decisions are typically made with oversight, but for retail traders, there is no-one around to temper your personal flaws. You can do whatever you want! - but it’s a double edged sword of responsibility that your trading plan needs to prepare you for. In short, you can best get an idea of where you are emotionally weakest by looking at your trading history. Nobody can do this for you, so it requires quite a bit of self-awareness. However, the rewards of removing emotional risk from a trading plan make it worth the effort. 😱 All trading is based on fear. You need to understand which fear is stronger - the fear of missing out, or the fear of losing capital. Figure out which is stronger, and plan accordingly. Just because you understand a certain strategy and other people make money trading it, doesn’t mean that you will be able to. Executing with 100% consistency at 30% efficiency is more important than finding a strategy with 100% efficiency that you can only trade with 10% consistency. Make life easy on yourself! 3️⃣ Element 3: Every good trading plan outlines risk. Whether you have one thousand dollars or one billion dollars, ignoring risk is a sure way to experience massively increased monetary and emotional volatility , which can have a huge negative impact on long term profitability. Here are a few simple-to-implement mechanisms that Banks, Hedge Funds, and Prop Firms use to reduce risk significantly - good trading plans don’t skip these. 💵 Total Account Stop Exactly what it sounds like: once you lose a certain percentage of your capital, you stop trading, liquidate your positions, and assess what went wrong. Only once you’re satisfied that you have fixed the issue are you allowed to re-enter the market. In the industry, this number is commonly 10%. 💵 Per Theme Risk This ensures that you aren’t too concentrated on a single “bet”, even if the bet is spread across multiple instruments. For example, if you own multiple companies in the same sector, their performance will likely be correlated to some degree even if they have different products or services. Adding a hard cap to this type of risk can massively reduce risky or over concentrated allocations. 💵 Per Position Risk Many successful Professional Traders and Hedge Funds use the concept of “Free Capital” in order to manage risk. “Free Capital” is the amount of money in hard dollars that makes up the buffer between an account’s current equity, and the total account stop number. For example, If a currency trader at a bank has a 10% total account stop out, and runs a $10,000,000 currency book, then he can really only “lose” $1,000,000 before his bosses pull him aside to have a talk. His “Free Capital” is $1,000,000. He will then size his positions to where he only risks 1-5% of his Free Capital per trade. This way, he has room to be wrong a minimum of 20 times in a row before any negative consequences come his way. Implementing a “free capital” risk limit per position ensures that you have a TON of room for error. Yes, this typically prevents you from doubling your account overnight, but again, that isn’t the goal. Long term profitability is. Some people call this per position risk “one R” (one risk unit). ☝🏽Whatever it looks like, including a plan for managing your risk is essential for *actually* managing your risk. If these plans aren’t written out and acted upon, they’re also a lot easier to ignore. 🙏🏽 Thanks for reading! Hope this was helpful! - TradingView Team ❤️❤️ Make sure you follow us on Instagram and YouTube for more awesome content! 💘
Editors' picks
Education
3
Would You Stake Yourself?Hey everyone! 👋 Last week, we took a look at a hypothetical scenario, where a rich acquaintance of yours needed help deciding between two traders he's thinking about staking. This led to the question: "Who would you stake?". This post will continue right where that one left off. - After getting the contact info, you reach out to interview the two traders. You speak with Trader #1 , and he appears to be quite intelligent, with wide and deep market knowledge. He’s shown you a few market predictions that he’s already gotten correct, and walks you through how he finds opportunities. You’re impressed. You speak with Trader #2 , and he also appears to be quite intelligent, with broad market knowledge, in addition to a history of profitable investment/trade ideas. He walks you through how he finds opportunities, and, similar to Trader #1, you’re quite impressed. In addition, he also presents you with written details about how he plans to manage risk, his maximum drawdown, and a whole litany of other clearly defined rules that keep risk under control and quality trade ideas coming. Assuming we are still in the position of choosing which trader to stake, most, if not all, individuals in this situation would pick Trader #2 because of his attention to preparation and risk control, in addition to having a ‘business plan’. Trader #1 may be smart and highly capable, but he’s shown no evidence that he has a process to continually generate good trade ideas while ensuring that he doesn’t lose everything. Trader #2 has “done the work”, and proven that he’s worthy of the capital. - Whether they know it or not, anyone who manages their own money is constantly faced with the same decision. If you step outside of yourself, are you more like trader #1 or #2? Is your trading plan worthy of investment? Would you invest in someone else who’s taken the same trades that you have? Does that person have a plan? Have they “done the work”? Keeping yourself honest about what is working and what isn't is a superpower! Hopefully, this emphasizes the importance of building a trading plan. Next week we will take a look at what factors are typically needed in order to build an effective one. If you’re not like Trader #2, comment below about the steps you’re taking to become better prepared for what the market throws at you! -Team TradingView If you missed last week’s post, you can catch up here:
Editors' picks
Education
3
Who would you Stake?Hey everyone! 👋 In the next few posts, we'll be looking at the key elements involved in building a solid trading plan, but today, to introduce the concepts in a fun way, we will be looking at a completely hypothetical situation. - Let’s say that you’re walking down the street, and a stranger approaches you with a business proposal; he’s recently sold his business, and come into a significant amount of capital - 1,00,00,000 INR. Additionally, word of the sale has gotten to two separate aspiring traders, who have approached him asking him if they can manage his money in return for a fee. The stranger has heard from a family friend that you’re interested in trading, and he wants your help in picking out which trader to invest the money in. In return for your help, He’s going to split the profits he makes 50-50 with you. Obviously, it’s in your best interest to help him make a decision that will make the most money for the longest period of time, with the least amount of risk. The stranger then pulls out contact information for both traders and asks you to interview them separately. - Here's our question to you: if you only get to ask the traders three questions to gauge their likely future performance, what would you ask them? What questions dive to the heart of risk, reward, and sustainability? We look forward to your replies, and in next week's post, we will begin looking at how some of the likely responses can go towards building out a consistent, profitable process! - Team TradingView Feel free to check us out on Instagram , Telegram , and YouTube for more awesome content! 💘
Editors' picks
Education
15
One candlestick pattern - The MarubozuHey everyone! In this post, we are going to talk about a candlestick pattern known as Marubozu, along with a few exhibits that may help you solidify your understanding of this 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 candlestick charts offer a quick picture into the psychology of buyers and sellers. Before proceeding further, a few things to keep in mind: → A bearish candlestick indicates the opening price of the session being higher than the closing price. → Similarly, a bullish candlestick indicates the opening price of the session being lower than the closing price. → The shadow at the top and bottom represent the high and low for the session. → The size of the real body is indicative of the strength of the trend. What is a Marubozu pattern? A Marubozu is a candlestick with a full real body and no shadows. This solid body indicates a strong trend, be it in any direction. The name Marubozu comes from the Japanese and means "close-cropped", indicating a candle with no shadow. Marubozu can be divided into two types, depending on the bias. ∎ Bullish marubozu ∎ Bearish marubozu A Marubozu can appear anywhere in the chart irrespective of the prior trend; the trading implication remains the same. ⚠️ Please notice the textbook definition of a Marubozu is a candle with no shadows. However, in practice, the ideal setups rarely occur. Hence, there is a little bit of wiggle room on either side. 🟩 Bullish Marubozu → In a bullish Marubozu, the lack of the upper and lower shadow indicates that the low and high are equal to the open and close, respectively. However, there may be some shadows in reality, therefore we must be versatile within limits. → A bullish Marubozu indicates that market participants are willing to buy the stock at any price point throughout the day. As a result, the stock closes near the session's high. → In general, the occurrence of a bullish Marubozu indicates that the sentiment has strongly shifted to the upside and we can see higher prices in the coming sessions. Hence a trader should look for buying opportunities whenever the price pulls back to lower levels. Exhibit 1: Bullish Marubozu Exhibit 2: Bullish Marubozu with subsequent uptrend 🟥 Bearish Marubozu → In a bearish marubozu, the open price is almost equal to the high whereas the session closes near the low price. → A bearish Marubozu indicates a strong bearish sentiment because the market participants are willing to sell the stock at any price point throughout the day. → In general, the occurrence of a bearish Marubozu indicates that the sentiment has strongly shifted to the downside and we can see lower prices in the subsequent sessions. Hence a trader should look for selling opportunities whenever the price pulls back to higher levels. Exhibit 1: Bearish Marubozu Exhibit 2: Bearish Marubozu with subsequent down trend Thanks for reading! Hope this was helpful! See you all next week. 🙂 – Team TradingView Feel free to check us out on Instagram , Telegram , and YouTube for more awesome content! 💘
Editors' picks
Education
5
Thanks to the greatest teacher 'THE MARKET' !!!This publication is dedicated to thanking one of the greatest and strict teacher the ‘Stock Market’. The lessons of the market not only help one to succeed in the stock market but also helps throughout life. This 5th September i.e. Teacher’s day let’s have a detailed look at 5 Great Learnings of Stock Market and thank her for these life-awakening learnings. -> Discipline: The most important teaching in markets is discipline. As the wording of Jim Rohn states “Discipline is the bridge between goals and accomplishment” stock market develops that bridge. The market has its way of teaching and punishing, I think all of us had witnessed its punishment whether in form of not keeping stop loss or not following your trade system. Discipline plays a vital role in an individual’s life. As said by Horace “Rule your mind or it will rule you. ”The disciplined person has the power to rule his mind whereas others lack this ability. -> Patience: Another gem cultivated by markets in our personality and harvested by us throughout life. One of the familiar names of our school time Benjamin Franklin says “He that can have patience can have what he will.” market first teaches this gem to us then offer us what we wish. We all have at least once missed taking the real profit by not waiting till the target is achieved but leaving the trade in midway though it was moving in our direction the reason is we lack patience and the market gives profit only to eligible ones so, either you be eligible or market will make you fit for it by its own way. -> Ability to conquer 3 gateways of hell: According to ‘The Bhagavad Gita’ there are 3 gateways to hell i.e. Lust, Greed, and Anger. The market helps its students in conquering those strong emotions. The beginner in the stock market has a strong lust for making money very quickly and greed for making lots of money without that kind of effort and when he fails in his motive anger gets born in his personality from where degradation or hell starts. Those few people who still have not left the hands of the market get the knowledge to conquer those emotions throughout their journey in markets. -> Faith in yourself: One of the famous quotes by Ralph Waldo Emerson is “The best lightning rod for your protection is your own spine.” market strengthen that spine so that we as its student can withstand any kind of storm in our life. Before taking any trade based on your analysis requires self-belief on the early days people hesitate but later they rely on their analysis because the market has taught them self-belief. -> Crush your arrogance: Market is popular in crushing the arrogant guy along with this removing any trace of arrogance in his personality. The famous wording says “Close some doors today. Not because of pride, incapacity, or arrogance, but simply because they lead you nowhere.” market as a kind teacher keep a keen eye on her student for arrogance as she knows that as soon as arrogance arises person starts his fall. All of us had witnessed that whenever we start thinking that we have mastered markets and try to neglect discipline market slaps us badly to awaken us that we are still newbies and still had to learn a lot. According to me, these 5 are the most valuable learnings of markets but if you have any learning of market much valuable in your life please mention in comments. Also, comment which subjects teacher in your school life is as strict as the stock market, for me its 2nd language(Hindi) teacher. Finally great thanks to 'The Market' for these great teachings. The stock market gives success only to eligible ones so, either you be eligible or the market will make you fit for it in its own way.
Editors' picks
Education
15
Important house rules of TradingViewHey everyone! 👋 In this post, we will be taking a look at some of the most important guidelines we have on our platform when it comes to publishing. By following these pointers, you can be sure that the stage is set for you to post the most creative, alpha-generating trade ideas! Who knows, we may even select your idea for the front page 👀. In addition, following these rules will also help keep the site free of spam and low-quality content. Let’s dive in! ✅ Make ideas understandable → When publishing content, be sure to include an insightful description and a readable title so that everyone can understand your post. You probably shouldn't propose an idea if it doesn't have any underlying logic. → The description does not necessarily have to be long. It can be short and crisp, explaining what you want to convey through your chart. That said, the more you write, the easier it will be for people to understand what you’re talking about. → You can mention several points such as the concept, entry, stop loss, targets, etc. This can help out novice traders in understanding your thought process. → Do not write the title or description in all capital letters (upper case). ✅ All content should be ad-free → Your content should be free from promotions. Any form of advertisements, logos, links, or references to any website, social media, messaging or email contacts, company names, wallet addresses, giveaways, prize contests, or any other kind of announcement or solicitation is not allowed. → Do not mention your Telegram, Twitter, Instagram, Youtube, WhatsApp, or any other social handles on the chart, in the description, in the comment section, or in public chatrooms. ⏰ Exception : The only exception to this rule is for Premium subscribers, who are allowed to include links and solicitation ONLY in the Signature field. ✅ No Fundraising Any calls for donations or money-related solicitations are prohibited. Please take those requests to other platforms that are intended for such purposes. ✅ Publish in the same language as the site you're on → Please be sure to keep to the language of the TradingView subdomain you're on because writing in one language when the audience reads in another is simply a waste of time and effort. → If you'd like to publish in another language, please change the dialect by going to the language selector at the top bar menu of the screen. → You can not comment or publish ideas in Hindi on the Indian version as it is specifically an English subdomain. If you use any other language than English, then your ideas will be hidden. ⏰ Exception : The only exception is for scripts. Script titles must be in English, and their description must begin with English, followed by a translation in your preferred language(s). ✅ Don't plagiarize → Only share original content that you have created or have rights for. Do not copy or use someone else's work without getting their legal permission or without crediting them. → The ideas with plagiarized content are deleted and a harsh ban is imposed on the user. ✅ Don't fight the mods → Moderators are volunteers doing their best to keep the platform free of violations. Disrespecting moderators can lead to temporary or permanent suspension of your account from using any social features. → Mods are friendly chaps who are there to improve your experience on TV. If you have any complaints or concerns, please send them via private message in a civil manner. ✅ Don't create duplicate accounts Use only one account. All fake, spam accounts are banned permanently without any warning. ✅ Don't try to manipulate the reputation system → Creation of multiple accounts to comment and like posts on the original account is a violation. A permanent ban will be imposed on the duplicate accounts as soon as they are flagged. → Do not indulge in any like-for-like or comment-for-comment scheme to increase the reputation points. If any user is caught doing so, a reputation cut will be applied. ✅ Be respectful → TradingView has a zero-tolerance policy for contentious political discourse, defamatory, threatening, or discriminatory remarks, hate speech, or personal attacks. → Be respectful, kind, tolerant, and constructive, even when you disagree. There's no room for negativity, swearing, trolling, or conflict. → Users can flag any spam comment/message by clicking on the small flag in front of the commenter's username. The comment will be moderated and deleted if necessary. You can also contact a mod for the same. Be sure to check out the complete house rules at this link . Thanks for reading! Hope this was helpful! See you all next week. 🙂 – Team TradingView Feel free to check us out on Instagram , Telegram , and YouTube for more awesome content! 💘
Editors' picks
Education
3
"Volume and Price" Trend Relationship📈"Volume and Price" Trend Relationship📈 Price Up and Volume Up ✅ The volume trend has supported the uptrend movement. Therefore, we can look for buying opportunities. Price Up and Volume Down ✅ The volume trend has not been supported the uptrend movement. Therefore, we can exit our long position Price Down and Volume Up ✅ The volume trend has supported the downtrend movement. Therefore, we can look for selling opportunities. Price Down and Volume Down ✅ The volume trend has not been supported the downside movement. Therefore, we can exit our short position
Editors' picks
Education
6
Basic patterns of Elliott Wave Theory ExplainedTHE INTRODUCTION As you all know the waves always moves in zig zag fashion, either it moves up or it moves down, but the pattern always remains same i.e. Zig zag. So, the most important question is, with which method one can define the trend or some meaningful pattern, which can help anyone to plan his trade & other opportunities. There are multiple technical indicators available which can help to identify the patterns. However, the method which I use is The great Elliott Wave Theory. In this post I would like to summarize all of the basic Elliott Wave patterns. Here, in the Elliott Wave world, waves are always of two types. 1- Impulsive 2- Corrective CYCLE Whenever one impulse and corrective waves get combined one cycle is formed. Here, I have drawn the graphical representation of same. IMPULSIVE WAVES A Impulse is the combination of five wave structure, where all five waves are termed as: wave: 1,2,3,4 & 5 SUB STRUCTURE: Here, wave 1, 3 & 5 always sub divides into five smaller waves (*) (•)Waves 1 & 5 sometimes also gets converted into leading diagonal & ending diagonal. And, waves 2 & 4 always gets completed into a combination of three wave s structure. (structures could be simple or complex) (A separate topic) (also called as the corrective waves) CORRECTIVE WAVES ZIG ZAG Zig Zags are the pattern having the combination of three waves. (Wave a, b & c) Where, Wave A, subdivides into five waves , Wave B, sub divides into three waves and, Wave C, sub divides into five waves Here, I have drawn graphical representation of same. FLAT FLATS are the pattern having the combination of three waves. (Wave a, b & c) Where, Wave A, subdivides into three waves Wave B, sub divides into three waves And, Wave C, sub divides into five waves Here, I have drawn graphical representation of same. TRIANGLES A Triangle is the side ways price moves, bounded by converging trend lines. Internal wave in a triangle sub divides into 5 sub waves, named as A,B,C,D & E which further sub divides into 3 sub waves. Triangle often called as the terminating waves patterns, as it always terminates the big wave structure. LEADING DIAGONAL It consists of five sub-waves, labeled 1-2-3-4-5, Here, waves 1 & 4 always overlaps (exception) & Here, wave 1,3,5 sub divides into 5 sub waves & waves 2,4 sub divides into 3 sub waves. ENDING DIAGONAL It also, consists of five sub-waves, labeled 1-2-3-4-5, Here, waves 1 & 4 always overlaps (exception) & Here, wave 1,2,3,4,5 sub divides into 3 sub waves The patterns explained above are some of the basic patterns of " The Elliott Wave Theory" In future I would to cover separate topic in great detail.. Stay Tuned....
Editors' picks
Education
3
Important types of chartsHey everyone! In this post, we are going to talk about different types of charts that are used in technical analysis. 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! Charts are used to illustrate change in prices over different time frames. It’s a graphical method of showing the historical price information. Charts are two-dimensional and have an x-axis (horizontal) and a y-axis (vertical). The x-axis generally represents time whereas the y-axis indicates the price. 👉 Line chart • “Line charts” are formed by connecting the closing prices of a specific stock over a given period of time. • It is particularly useful for providing a clear visualisation of the underlying trend. • It only considers the “closing value” of the stock and ignores the open, high, and low values. • Since it only uses the closing prices, hence it less noisy as compared to candlestick or bar charts. 👉 Bar chart • A bar shows the high price for the period at the top and the lowest price at the bottom of the bar. • Each bar displays the open, high, low, and close prices (OHLC). • Small lines on either side of the vertical bar serve to mark the opening and closing prices. • The opening price is marked by a small tick to the left of the bar; the closing price is shown by a similar tick to the right of the bar. 👉 Candlestick chart • A candlestick chart provide visual insight to current market psychology. • It displays the open, high, low, and closing prices (OHLC). • The rectangular section of the candles is called the real body, which is the range between the session’s open and close. • Bearish candle- When the close of the session is lower than the open. • Bullish candle- When the close of the session is higher than the open. • The thin lines on each side of the candle are called the wicks/shadows and they represent the session’s price extremes. 👉 Heikin Ashi chart • Heikin Ashi uses a modified formula of close-open-high-low (COHL). • Normal candlesticks keep changing colour depending on the OHLC even if the price is moving heavily in one direction. But the Heikin Ashi candles stay predominantly mono-coloured during trends. • Candles with no lower "shadows" indicate a strong uptrend. • Candles with no upper "shadows" indicate a strong downtrend. • Candles with a small body surrounded by upper and lower shadows indicate a trend change. 👉 Renko chart • A new brick is created when the price moves a specified price amount. The brick only forms on the chart once the price has moved the set amount. • A brick can be of any size (called the box size). Box size can be set manually or it can be calculated using the Average True Range (ATR). • There is a time axis on Renko charts, however, the time scale is flexible. This means that the bricks are not formed at an equal pace. • Renko charts typically only use closing prices and mitigate the noise to a higher extent, making trend identification easier. 👉 Kagi chart • When the price of the asset rises above the previous high price, a thick line is formed, signalling an increase in the demand. • When the price drops below the previous low, a thin line is formed to indicate an increased supply. • When there is a price reversal of a certain threshold amount, the chart starts to reverse the direction. • Swing highs are called shoulders and the swing lows are called waists. • Rising shoulders = Bullish. Falling waists = Bearish 👉 Point and Figure chart • A P&F chart is used to visualize price movements and trends without any dependence on time. • It makes use of columns made up of stacked Xs or Os, where each one stands for a specific amount of price change. • In general, X illustrates rising price, while O represents a falling price (Some people use the reverse too). • Point and Figures also emphasize on the closing prices only. Thanks for reading! Hope this was helpful! See you all next week. 🙂 – Team TradingView Feel free to check us out on Twitter , Instagram , and YouTube for more awesome content! 💘
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Education
10

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Pine scripts

TPO Market Profile [Kioseff Trading]REPOST; SCRIPT WORKS!! Due to technical error, this script was republished! Thank you for your support (: Hello! This indicator comprises a real time TPO Market Profile! The script works on any timeframe 1 second or greater - the script calculates relative to the timeframe selected for your chart. The image above shows the 1-minute BTCUSD chart; 650 +/- tick levels are set. To see the script in full functionality - try using bar replay on a cryptocurrency 1-minute chart (start at the beginning of a regular hours session). Be sure to adjust the tick spread if necessary (: So far, the script's held up in real time - I've not had any array loop errors or timeouts. The TPO profile updates accordingly with changes in time / high and low prices. Letters are appended to the profile in real time. The image above shows configurations for the indicator. I plan to update the indicator quite a bit over the coming days - more to come. You can select the timeframe change the indicator accounts for. For instance, you can have set the indicator to reset every day, every 30 minutes, every 5 minutes, every week, month, etc. In the image above, I configured the indicator to recalculate every 3 months. Consequently, the indicator will record a TPO profile for three consecutive, reset, then record a TPO profile for the next 3 months. This setting makes the indicator compatible with any timeframe greater than 1 minute. You can also use a drag & drop time-start bar to modify the starting point for the market profile TPO calculation. The indicator hosts an option to auto calculate the tick spread between levels. However, as you switch timeframes and assets, sometimes, you'll have to manually set the tick range (: Thanks for checking it out; more to come! Sep 4 Release Notes: UPDATE: The indicator can work on seconds-based charts. The image above shows the indicator working on the 1-second chart. (Screenshot is old; characters are now numbered instead of strange unicode) Release Notes: Added value area + vah + val. Font update. Changed characters to numbered once the alphabet is exhausted. POC, VAH, and VAL label located left of the first bar of the interval. Initial balance range can be toggled. Spaced the characters (more legible). Quite a bit of aesthetic changes so check it out! Soon, I'll release a version of the script that shows VAH, POC, VAL, and TPO letters from previous sessions. I coded this feature into this indicator; however, it was removed due to load time complications. This feature will be its own script (: If the script has trouble loading please let me know (:
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Pine Script™ indicator
4
Tick StatisticsTick Statistics: I have seen many questions/queries related to tick data in TV telegram channels. This script will help pine scripts to understand how ticks work, how to capture and process tick data. This is an educational indicator script for pine scripters. The indicator shall work only on real time candles. Tick data capture is initiated as soon as indicator is loaded on the chart. You might not get correct statistics on 1st candle in case indicator is loaded when real time candle is in progress, in such case you can monitor the statistics generated for subsequent candles. Generated statistics is shown on the chart by placing 2 diamond shapes above and below the candle. Diamond shape below the candle will have candles ‘tick data’ listed in a table. This can be view by placing mouse pointer on the diamond shape. Refer to point 1 below for more details. Diamond shape above the candle will have statistics as mentioned in point no 2 onwards. To view the statistics place the mouse point on the diamond shape. The shape will appear in green color when both tick price and tick volume are both moving in the same direction. The diamond shape in red color means tick price and tick volume are moving in opposite direction. The script captures tick by tick data and generate statistics below: 1. List of tick data with details below: (this is stored in the diamond shape placed below the candle) a. Tick no b. Tick type – Up tick (Up), Down tick (Dn), No change (--) c. Tick price d. Volume e. Price difference (as compared to previous tick price) f. Volume difference (as compared to previous tick volume) 2. Tick statistics a. Total ticks b. Number of up ticks c. Number of down ticks d. Number of No change ticks 3. Volume Statistics a. Total volume b. Up tick volume c. Down tick volume d. Volume associated with ticks where there is no change e. Candle volume (just for reconciliation purpose) 4. Max-min statistics a. Max volume = <> at price = <> at tick no = <> b. Min volume = <> at price = <> at tick no = <> c. Max price = <> at volume = <> at tick no = <> d. Min price = <> at volume = <> at tick no = <> 5. Candle summary a. Price << Up >> (if price is up as compared to 1st tick <> otherwise b. Volume <> (if up tick volume is more than down tick volume <> otherwise
Editors' picks
Pine Script™ indicator
7
Strength of Divergence Across Multiple IndicatorsOverview: One-stop shop for all your divergence needs, including: (1) A single metric for divergence strength across multiple indicators. (2) Labels that make it easy to spot where the truly strong divergence is by showing the overall divergence strength value along with the number of divergent indicators. Hovering over the label shows a breakdown of each divergent indicator and its individual divergence strength value. (3) Fully customizable, including inputs for pivot lengths, divergence types, and weights for every component of the divergence strength calculation. This allows you to quickly and easily optimize the output for any chart. Don't worry, the default settings will have you covered if you're not interested in what's going on under the hood. The Divergence Strength Calculation: The total divergence strength value is the sum of the divergence strengths of all indicators for which divergence was detected at a given bar. Each indicator's individual divergence strength is comprised of two basic components: (1) |ΔPrice| - the magnitude of the change in price over the divergence period (pivot-to-pivot), and (2) |ΔIndicator| - the magnitude of the change in indicator value over the divergence period. Because different indicators' scales and volatility can vary greatly, the Δ values are expressed in terms of standard deviation to ensure that the values are meaningful and equitable across all indicators and assets/instruments/currency pairs, etc: |ΔIndicator| = |indicator_value_1 - indicator_value_2| / 2 * StDev(indicator_series,100) Calculation Weights: All components of the calculation are weighted and can be modified on the Inputs page in settings (weights are simply multipliers). For example, if you think hidden divergence should carry less weight than regular divergence, you can assign it a lesser weight. Or if you think RSI divergence is worth more than OBV divergence, you can adjust their weights accordingly. List of weights: Regular divergence weight - default = 1 Hidden divergence weight - default = 1 ΔPrice weight - default = 0.5 (multiplied by the ΔPrice component) ΔIndicator weight - default = 1.5 (multiplied by the ΔIndicator component) RSI weight - default = 1.1 OBV weight - default = 0.8 MACD weight - default = 0.9 STOCH weight - default = 0.9 Development for additional indicators is ongoing, as is research into the optimal weight configuration(s). Other Inputs: Pivot lengths - specify the number of bars before and after each pivot high/low to consider it a valid candidate for divergence. Lookback bars and Lookback pivots - specify the number of bars or the number of pivots to look back across. Price sources - specify separate price sources for bullish and bearish divergence Display settings - specify how lines and labels should display, including which divergence strength values should show the largest labels. Include/exclude specific divergence types and indicators. Please report any bugs, or let me know if you have any enhancement suggestions or requests for additional indicators. @reees
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Pine Script™ indicator
53
RSI Past Can Turn RSI Into a Directional ToolThe Relative Strength Index was created by J. Welles Wilder to measure overbought and oversold conditions. It’s also found popularity as an overall measure of direction because upward-trending stocks often hit overbought conditions. The opposite can be true with underperformers. Today’s custom script, RSI Past, attempts to capture this secondary use of RSI as a directional indicator. RSI Past achieves this by comparing how many bars have passed since RSI's most recent overbought and oversold readings. It then plots a simple difference between those two numbers. Stocks with “bullish” signals will have positive readings that will increase each time RSI hits an overbought condition. “Bearish” readings are just the opposite, growing more negative as oversold conditions occur. An examination of some individual stocks may show the usefulness of this approach. Meta Platforms , for example, hit an oversold condition almost exactly one year ago, and has remained under heavy selling pressure since: Exxon Mobil , on the other hand, flipped to a bullish reading last October and has trended higher since: This raises some interesting questions for Apple, shown on the main chart above. AAPL’s RSI Past has maintained a bullish reading for over a year -- unlike most other big technology stocks and the broader Nasdaq-100. Could this reflect bigger directional strength, especially with prices holding the $150 level that’s had relevance several times mid-2021? TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
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Pine Script™ indicator
4
ABC 123 Harmonic Ratio Custom Range Interactive█ OVERVIEW This indicator was designed based on Harmonic Trading : Volume One written by Scott Carney. This is about harmonic ratios which expanded through retracement and projection. Derivation is pretty much explained here such as Primary, Primary Derivation, Secondary Derivation and Secondary Derivation Extreme. Derivation value depends on minimum retracement or maximum projection. This derivation value utilize Fibonacci value which later expand to Harmonic Ratio. █ INSPIRATION Inspired by design, code and usage of CAGR . Basic usage of custom range / interactive, pretty much explained here . Credits to TradingView. This build is based and visualized upon Harmonic Trading Ratios. This build also was stripped down from XABCD Harmonic Pattern Custom Range Interactive . █ CREDITS Scott Carney, Harmonic Trading : Volume One (Page 18) █ FEATURES Table can positioned by any position and font size can be resized. Labels can be either changed to alphabets or numbers. █ HOW TO USE Draw points from Point A to Point C. Dont worry about magnet, point will attached depends on High or Low of the candle. █ USAGE / TIPS EXAMPLES (Description explained in each image)
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Pine Script™ indicator
3
Machine Learning: kNN (New Approach)Description: kNN is a very robust and simple method for data classification and prediction. It is very effective if the training data is large. However, it is distinguished by difficulty at determining its main parameter, K (a number of nearest neighbors), beforehand. The computation cost is also quite high because we need to compute distance of each instance to all training samples. Nevertheless, in algorithmic trading KNN is reported to perform on a par with such techniques as SVM and Random Forest. It is also widely used in the area of data science. The input data is just a long series of prices over time without any particular features. The value to be predicted is just the next bar's price. The way that this problem is solved for both nearest neighbor techniques and for some other types of prediction algorithms is to create training records by taking, for instance, 10 consecutive prices and using the first 9 as predictor values and the 10th as the prediction value. Doing this way, given 100 data points in your time series you could create 10 different training records. It's possible to create even more training records than 10 by creating a new record starting at every data point. For instance, you could take the first 10 data points and create a record. Then you could take the 10 consecutive data points starting at the second data point, the 10 consecutive data points starting at the third data point, etc. By default, shown are only 10 initial data points as predictor values and the 6th as the prediction value. Here is a step-by-step workthrough on how to compute K nearest neighbors (KNN) algorithm for quantitative data: 1. Determine parameter K = number of nearest neighbors. 2. Calculate the distance between the instance and all the training samples. As we are dealing with one-dimensional distance, we simply take absolute value from the instance to value of x (| x – v |). 3. Rank the distance and determine nearest neighbors based on the K'th minimum distance. 4. Gather the values of the nearest neighbors. 5. Use average of nearest neighbors as the prediction value of the instance. The original logic of the algorithm was slightly modified, and as a result at approx. N=17 the resulting curve nicely approximates that of the sma(20). See the description below. Beside the sma-like MA this algorithm also gives you a hint on the direction of the next bar move.
Editors' picks
Pine Script™ indicator
18
Delta Volume Channels [LucF]█  OVERVIEW This indicator displays on-chart visuals aimed at making the most of delta ​volume information. It can color bars and display two channels: one for delta ​volume, another calculated from the price levels of bars where delta ​volume divergences occur. Markers and alerts can also be configured using key conditions, and filtered in many different ways. The indicator caters to traders who prefer chart visuals over raw values. It will work on historical bars and in real time, using intrabar analysis to calculate delta ​volume in both conditions. █  CONCEPTS Delta Volume ​The ​volume delta concept divides a bar's ​volume in "up" and "down" ​volumes. The delta is calculated by subtracting down ​volume from up ​volume. Many calculation techniques exist to isolate up and down ​volume within a bar. The simplest techniques use the polarity of interbar price changes to assign their ​volume to up or down slots, e.g., On Balance Volume or the Klinger Oscillator . Others such as Chaikin Money Flow use assumptions based on a bar's OHLC values. The most precise calculation method uses tick data and assigns the ​volume of each tick to the up or down slot depending on whether the transaction occurs at the bid or ask price. While this technique is ideal, it requires huge amounts of data on historical bars, which usually limits the historical depth of charts and the number of symbols for which tick data is available. This indicator uses intrabar analysis to achieve a compromise between the simplest and most precise methods of calculating ​volume delta. In the context where historical tick data is not yet available on TradingView, intrabar analysis is the most precise technique to calculate ​volume delta on historical bars on our charts. TradingView's Volume Profile and CVD - Cumulative ​Volume Delta Candles indicators use it. Other ​volume delta indicators such as my Realtime 5D Profile use realtime chart updates to achieve more precise ​volume delta calculations. Indicators of that type cannot be used on historical bars however; they only work in real time. This is the logic I use to assign intrabar ​volume to up or down slots:  • If the intrabar's open and close values are different, their relative position is used.  • If the intrabar's open and close values are the same, the difference between the intrabar's close and the previous intrabar's close is used.  • As a last resort, when there is no movement during an intrabar and it closes at the same price as the previous intrabar, the last known polarity is used. Once all intrabars making up a chart bar have been analyzed and the up or down property of each intrabar's ​volume determined, the up volumes are added and the down volumes subtracted. The resulting value is ​volume delta for that chart bar, which can be used as an estimate of the buying/selling pressure on an instrument. Delta ​Volume Percent (DV%) This value is the proportion that delta ​volume represents of the total intrabar ​volume in the chart bar. Note that on some symbols/timeframes, the total intrabar ​volume may differ from the chart's ​volume for a bar, but that will not affect our calculations since we use the total intrabar ​volume. Delta ​Volume Channel The ​​DV channel is the space between two moving averages: the reference line and a DV%-weighted version of that reference. The reference line is a moving average of a type, source and length which you select. The DV%-weighted line uses the same settings, but it averages the DV%-weighted price source. The weight applied to the source of the reference line is calculated from two values, which are multiplied: DV% and the relative size of the bar's ​volume in relation to previous bars. The effect of this is that DV% values on bars with higher total ​volume will carry greater weight than those with lesser ​volume. The ​DV channel can be in one of four states, each having its corresponding color:  • Bull (teal): The DV%-weighted line is above the reference line.  • Strong bull (lime): The bull condition is fulfilled and the bar's close is above the reference line and both the reference and the DV%-weighted lines are rising.  • Bear (maroon): The DV%-weighted line is below the reference line.  • Strong bear (pink): The bear condition is fulfilled and the bar's close is below the reference line and both the reference and the DV%-weighted lines are falling. Divergences In the context of this indicator, a divergence is any bar where the slope of the reference line does not match that of the DV%-weighted line. No directional bias is assigned to divergences when they occur. Divergence Channel The divergence channel is the space between two levels (by default, the bar's low and high ) saved when divergences occur. When price has breached a channel and a new divergence occurs, a new channel is created. Until that new channel is breached, bars where additional divergences occur will expand the channel's levels if the bar's price points are outside the channel. Prices breaches of the divergence channel will change its state. Divergence channels can be in one of five different states:  • Bull (teal): Price has breached the channel to the upside.  • Strong bull (lime): The bull condition is fulfilled and the ​DV channel is in the strong bull state.  • Bear (maroon): Price has breached the channel to the downside.  • Strong bear (pink): The bear condition is fulfilled and the ​DV channel is in the strong bear state.  • Neutral (gray): The channel has not been breached. █  HOW TO USE THE INDICATOR Load the indicator on an active chart (see here if you don't know how). The default configuration displays:  • The ​DV channel, without the reference or DV%-weighted lines.  • The Divergence channel, without its level lines.  • Bar colors using the state of the ​DV channel. The default settings use an Arnaud-Legoux moving average on the close and a length of 20 bars. The DV%-weighted version of it uses a combination of DV% and relative ​volume to calculate the ultimate weight applied to the reference. The DV%-weighted line is capped to 5 standard deviations of the reference. The lower timeframe used to access intrabars automatically adjusts to the chart's timeframe and achieves optimal balance between the number of intrabars inspected in each chart bar, and the number of chart bars covered by the script's calculations. The Divergence channel's levels are determined using the high and low of the bars where divergences occur. Breaches of the channel require a bar's low to move above the top of the channel, and the bar's high to move below the channel's bottom. No markers appear on the chart; if you want to create alerts from this script, you will need first to define the conditions that will trigger the markers, then create the alert, which will trigger on those same conditions. To learn more about how to use this indicator, you must understand the concepts it uses and the information it displays, which requires reading this description. There are no videos to explain it. █  FEATURES The script's inputs are divided into four sections: "DV channel", "Divergence channel", "Visuals" and "Marker/Alert Conditions". DV Channel Here, you specify what you want to use as a reference line: its MA type, source and length. This is the ​DV channel's baseline. The DV%-weighted line will use the same settings, except that it will be calculated from the DV%-weighted source. By default, the DV%-weighted line is capped to five standard deviations of the reference line. You can change that value here. This section is also where you can disable the relative ​volume component of the weight, and choose the selection mode of the lower timeframe used to access intrabars. Divergence Channel This is where you configure the key price values to use in determining the channel's levels and breaching conditions. These choices have an impact on the behavior of the channel. More generous level prices like the default low and high selection will produce more conservative channels, as will the default choice for breach prices. In this section, you can also enable a mode where an attempt is made to estimate the channel's bias before price breaches the channel. When it is enabled, successive increases/decreases of the channel's top and bottom levels are counted as new divergences occur. When one count is greater than the other, a bull/bear bias is inferred from it. Visuals You can control here the display and appearance of most of the script's visuals: the reference line, the DV%-weighted line, the ​DV channel, the divergence channels and its levels, bar colors, a divergence mark, the color of markers and the information box which by default appears in the lower left of the chart. Marker/Alert Conditions Here, you specify the conditions that will trigger up or down markers. The trigger conditions can include a combination of state transitions of the ​DV and the divergence channels. The triggering conditions can be filtered using a variety of conditions. Configuring the marker conditions is necessary before creating an alert from this script, as the alert will use the marker conditions to trigger. Markers only appear on bar closes, so they will not repaint. Keep in mind, when looking at markers on historical bars, that they are positioned on the bar when it closes — NOT when it opens. Raw values The raw values calculated by this script can be inspected using a tooltip and the Data Window. The tooltip is visible when you hover over the top of chart bars. It will display on the last 500 bars of the chart, and shows the values of ​DV, DV%, the combined weight, and the intermediary values used to calculate them. █  INTERPRETATION The aim of the ​DV channel is to provide a visual representation of the buying/selling pressure calculated using delta ​volume. The simplest characteristic of the channel is its bull/bear state. One can then distinguish between its bull and strong bull states, as transitions from strong bull to bull states will generally happen when buyers are losing steam. While one should not infer a reversal from such transitions, they can be a good place to tighten stops. Only time will tell if a reversal will occur. One or more divergences will often occur before reversals. The nature of the divergence channel's design makes it particularly adept at identifying consolidation areas if its settings are kept on the conservative side. A gray divergence channel should usually be considered a no-trade zone. More adventurous traders can use the ​DV channel to orient their trade entries if they accept the risk of trading in a neutral divergence channel, which by definition will not have been breached by price. If your charts are already busy with other stuff you want to hold on to, you could consider using only the chart bar coloring component of this indicator: At its simplest, one way to use this indicator would be to look for overlaps of the strong bull/bear colors in both the ​DV channel and a divergence channel, as these identify points where price is breaching the divergence channel when buy/sell pressure is consistent with the direction of the breach. I have highlighted all those points in the chart below. Not all of them would have produced profitable trades, but nothing is perfect in the markets. Also, keep in mind that the circles identify the visual you would be looking for — not the trade's entry level. █  LIMITATIONS  • Because this script uses intrabars at a lower timeframe than the chart's, its realtime values will only update when a new intrabar completes.   You can see which lower timeframe is used in the script's information box.  • The script will not work on symbols where no ​volume is available. An error will appear when that is the case.  • Because a maximum of 100K intrabars can be analyzed by a script, a compromise is necessary between the number of intrabars analyzed per chart bar   and chart coverage. The more intrabars you analyze per chart bar, the less coverage you will obtain.   The setting of the "Intrabar precision" field in the "DV channel" section of the script's inputs   is where you control how the lower timeframe is calculated from the chart's timeframe. █  NOTES Volume Quality If you use ​volume, it's important to understand its nature and quality, as it varies with sectors and instruments. My Volume X-ray indicator is one way you can appraise the quality of an instrument's intraday ​volume. For Pine Script™ Coders  • This script uses the new overload of the fill() function which now makes it possible to do vertical gradients in Pine. I use it for both channels displayed by this script.  • I use the new arguments for plot() 's `display` parameter to control where the script plots some of its values,   namely those I only want to appear in the script's status line and in the Data Window.  • I wrote my script using the revised recommendations in the Style Guide from the Pine v5 User Manual. █  THANKS To PineCoders . I have used their lower_tf library in this script, to manage the calculation of the LTF and intrabar stats, and their Time library to convert a timeframe in seconds to a printable form for its display in the Information box. To TradingView's Pine Script™ team. Their innovations and improvements, big and small, constantly expand the boundaries of the language. What this script does would not have been possible just a few months back. And finally, thanks to all the users of my scripts who take the time to comment on my publications and suggest improvements. I do not reply to all but I do read your comments and do my best to implement your suggestions with the limited time that I have.
Editors' picks
Pine Script™ indicator
17
HSV and HSL gradient Tools ( Built-in Drop-in replacement )Library "hsvColor" HSV and HSL Gradient Tool Alternatives and helpers. Demo'd is built-in in the middle with HSL/HSV gradients on top/bottom TODO: Solve for #000000 issue rgbhsv(_col)   RGB Color to HSV Values   Parameters:      _col : Color input (#abc012 or color.name or color.rgb(0,0,0,0))   Returns: values rgbhsv(_r, _g, _b, _t)   RGB Color to HSV Values   Parameters:      _r : Red 0 - 255      _g : Green 0 - 255      _b : Blue 0 - 255      _t : Transp 0 - 100   Returns: values hsv(_h, _s, _v, _a)   HSV colors, Auto fix if past boundaries   Parameters:      _h : Hue Input (-360 - 360) or further      _s : Saturation 0.- 1.      _v : Value 0.- 1.      _a : Alpha 0.- 1.   Returns: Color output hue(_col)   returns 0-359 hue on color wheel   Parameters:      _col :   Returns: 360 degree hue value hsv_gradient(signal, _startVal, _endVal, _startCol, _endCol)   Color Gradient Replacement Function for HSV calculated Gradents   Parameters:      signal : Control signal      _startVal : start color limit      _endVal : end color limit      _startCol : start color      _endCol : end color   Returns: HSV calculated gradient hsl_gradient(signal, _startVal, _endVal, _startCol, _endCol)   Color Gradient Replacement Function for HSV calculated Gradents   Parameters:      signal : Control signal      _startVal : start color limit      _endVal : end color limit      _startCol : start color      _endCol : end color   Returns: HSV calculated gradient
Editors' picks
Pine Script™ library
13
STD-Filtered, N-Pole Gaussian Filter [Loxx]This is a Gaussian Filter with Standard Deviation Filtering that works for orders (poles) higher than the usual 4 poles that was originally available in Ehlers Gaussian Filter formulas. Because of that, it is a sort of generalized Gaussian filter that can calculate arbitrary (order) pole Gaussian Filter and which makes it a sort of a unique indicator. For this implementation, the practical mathematical maximum is 15 poles after which the precision of calculation is useless--the coefficients for levels above 15 poles are so high that the precision loss actually means very little. Despite this maximal precision utility, I've left the upper bound of poles open-ended so you can try poles of order 15 and above yourself. The default is set to 5 poles which is 1 pole greater than the normal maximum of 4 poles. The purpose of the standard deviation filter is to filter out noise by and by default it will filter 1 standard deviation. Adjust this number and the filter selections (price, both, GMA, none) to reduce the signal noise. What is Ehlers Gaussian filter? This filter can be used for smoothing. It rejects high frequencies (fast movements) better than an EMA and has lower lag. published by John F. Ehlers in "Rocket Science For Traders". A Gaussian filter is one whose transfer response is described by the familiar Gaussian bell-shaped curve. In the case of low-pass filters, only the upper half of the curve describes the filter. The use of gaussian filters is a move toward achieving the dual goal of reducing lag and reducing the lag of high-frequency components relative to the lag of lower-frequency components. A gaussian filter with... One Pole: f = alpha*g + (1-alpha)f Two Poles: f = alpha*2g + 2(1-alpha)f - (1-alpha)2f Three Poles: f = alpha*3g + 3(1-alpha)f - 3(1-alpha)2f + (1-alpha)3f Four Poles: f = alpha*4g + 4(1-alpha)f - 6(1-alpha)2f + 4(1-alpha)3f - (1-alpha)4f and so on... For an equivalent number of poles the lag of a Gaussian is about half the lag of a Butterworth filters: Lag = N*P / pi^2, where, N is the number of poles, and P is the critical period Special initialization of filter stages ensures proper working in scans with as few bars as possible. From Ehlers Book: "The first objective of using smoothers is to eliminate or reduce the undesired high-frequency components in the eprice data. Therefore these smoothers are called low-pass filters, and they all work by some form of averaging. Butterworth low-pass filters can do this job, but nothing comes for free. A higher degree of filtering is necessarily accompanied by a larger amount of lag. We have come to see that is a fact of life." References John F. Ehlers: "Rocket Science For Traders, Digital Signal Processing Applications", Chapter 15: "Infinite Impulse Response Filters" Included Loxx's Expanded Source Types Signals Alerts Bar coloring Related indicators STD-Filtered, Gaussian Moving Average (GMA) STD-Filtered, Gaussian-Kernel-Weighted Moving Average One-Sided Gaussian Filter w/ Channels Fisher Transform w/ Dynamic Zones R-sqrd Adapt. Fisher Transform w/ D. Zones & Divs .
Editors' picks
Pine Script™ indicator
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Portfolio PerformanceThis indicators will help you to compute portfolio performance and display results with a stats table and a nice monthly chart. In this script you can do following: Compose portfolio with up to 15 instruments Change Initial capital / date range / rebalancing period Compare portfolio performance with a benchmark Compute basic stats Compute instruments contribution Display monthly performance of portfolio and benchmark Change style for almost everything you see on your chart Hope it will be useful for you! Thanks to @MUQWISHI for helping me coding it. Disclaimer Please remember that past performance may not be indicative of future results. Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting. This post and the script don’t provide any financial advice.
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Pine Script™ indicator
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HDFC- Cracks from The Top of 2507/ Hidden Divergence (Y-Wave)Hidden Bearish Divergence This occurs when price makes a lower high (LH), but the oscillator is making a higher high (HH). When you see hidden bearish divergence, chances are that the pair will continue to shoot lower and continue the downtrend. What we expect next? As suggested earlier on 17th Aug 2022 video idea that the correction could be deep towards 2000 levels & has to be reviewed at certain intervals as markets are too volatile. The last related idea can be checked below Thank you Related Idea for HDFC Bank Nifty - Will if follow in the footseps of HDFC?
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