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Breadth Indicators

Probability of ATR Index [racer8]Deriving the indicator: PAI is an indicator I created that tells you the probability of current price moving a specified ATR distance over a specified number of periods into the future. It takes into account 4 variables: the ATR & the standard deviation of price, and the 2 parameters: ATR distance and # bars (time). The formula is very complex so I will not be able to explain it without confusion arising. What I can say is that I used integral calculus & the Taylor series to derive a formula that calculates the area under half of the normal distribution function. Thus, the formula was repeated twice in the code to derive the full probability (half + half = whole). If you can read the code, you might be wondering why the formula is so long... The reason for this is because in Pine Script, the erf function doesn't exist. You see, the formula for normal distribution is: f(x) = (1/sqrt(2pi))*e^(-xx/2), assuming of course that the standard deviation = 1 and mu (mean) = 1. The next step is to take the integral of this formula in order to find the area under f(x). The problem is that I found the integral, F(x), of the normal distribution formula to be equal to F(x) = erf(x/sqrt(2))/2...and the erf function cannot be directly computed into Pinescript. So I developed a solution...why not estimate the integral function? So that's exactly what I did using a technique involving the Taylor series. The Taylor series is an algebraic function that allows you to create a new function that can estimate the existing function. On a graph, the new function has the same values as the existing one, the only difference is that it uses a differnt formula, in this case, a formula that makes it possible to compute the integral. The disadvantage of using this new formula is that it is super long and if you want it to better represent the original integral over a wider range of x-values, you have to make it longer. Signal Interpretion: The hotter the colour, the more likely price will reach your specified distance. The 2 values of PAI in the bottom window represent probability & average probability of your specifed distance geting hit. Applications: Stop loss placement--- This indicator is useful because it gives you an idea of the likelihood that a stop loss at a particular distance away from price (in ATRs) will be hit over a period of time specified. This is helpful in placing stop losses. Options trading--- PAI can also be used in options trading. For example, you are using a strangle options strategy, and you want to make sure that price stays within the Strangle's profit range. So you only trade when PAI presents a low probability value of moving at a particular distance in ATRs over n periods. Anyhow, I hope you guys like it. Enjoy! and hit that like button for me :)
Pine Script™ indicator
by racer8
35
BACK TO THE FUTUREBack to the future indicator offers prediction. What will happen market future. -what will be the prices in the future? -everyone looks for the answer to this question. The indicator shows bar lines at various price levels. Look and work with trend lines before you analiys manually or auto trend lines indicators. The future prices calculate with the help of past fluctuations price. Projection for 60 bar. if you are looking day frame you can see what will happen 60 days later. It displays the most important trading levels and draws them according to their relevance. If a level is clearly broken, it changes its role. Support becomes resistance. According to your requirements, you can use it with my Technical Analiysis Line indicator. For access message me.
Pine Script™ indicator
by Herif
6
Crazy Signals - Early Detection of a Short Term TrendThis is a simple yet powerful tool that helps you detect Trends for the short term. Time Frames: - Avoid using very small time frames as there will be too many signals in a short period - Intraday: 15 mins, 30 mins, 60 mins seem to detect trends well - Overnight Trades: 60 mins - Positional: 1D is recommended - For Investment, one can week a weekly timeframe Rules of Engagement: 1. The Upward Arrow (Green) indicates possible upside. While the Downward Arrow (Orange) indicates a possible downside 2. Not every Signal has to be traded. Rules to check before taking a trade: a. The candle on which the Signal is generated, should be either small or medium size compared to other candles on the chart. If the candle is large, ignore it b. In case of a Buy Signal, entry should be made once the Price crosses above the High made on the Signal Candle c. In case of a Sell Signal, entry should be made once the Price crosses below the Low made on the Signal Candle d. For extra caution, in steps b & c, one can wait for the current candle to close higher than the High of Signal Candle for Buy Signal and close lower than the Low of Signal Candle (this is for extra safe traders) This tool is to be used for trades that usually last for a few candles. Please do your own research before trading.
Pine Script™ indicator
by pushkarmore
18
Session High and Session LowI have heard many people ask for a script that will identify the high and low of a specific session. So, I made one. Important Note: This indicator has to be set up properly or you will get an error. Important things to note are the length of the range and the session definition. The idea is that you would set it up for what's relevant to your trading. Going too far back in the chart history will cause errors. Setting the session for a time that is not on the chart can cause errors. If you set it to look farther back than there are bars to display, you may get an error. What I've found is that if you get an error, you just need to change the settings to reflect available data and it will be able to compile the script. At the time of its publishing, the default range start is set to 10/01/2020. If you're looking at this years later, you'll probably have to set the range to something more recent. Features: Plot or Lines: Using Plot (displayed), the indicator will track the high/low from the end of the session into the next session. Then at the start of the next session, it will start tracking the high/low of that session until its end, then track that high/low until the start of the next session then reset. Using lines, it will extend horizontal lines to the right indefinitely. The number of sessions back that the lines apply to is a user-defined number of sessions. There are limits to the number of lines that can be cast on a chart (roughly 40-50). So, the maximum number of sessions you can apply the lines to is the last 21 sessions (42 lines total). That gets really noisy though so I can't imagine that is a limiting factor. Colors: You can change the background color and its transparency, as well as turn the background color on or off. You can change the highs and lows colors You can adjust the line width to your preference Session Length: You can use a continuous session covering any user-defined period (provided its not tooooo many candles back) You can define the session length for intraday You can exclude weekends Display Options: You can adjust the colors, transparency, and linewidth You can display the plotline or horizontal lines You can show/hide the background color. You can change how many sessions back the horizontal lines will track Let me know if there's anything this script is missing or if you run into any issues that I might be able to help resolve. Here's what it looks like with Lines for the last 5 sessions and different background color.
Pine Script™ indicator
by kurtsmock
27
Bollinger BandsHi Everyone! User @three333 took the time to create this script with the multiple Bollinger Bands all combined together while I've been busy with other projects. This will make it easier to apply all the bands much faster. If you need this script, you have a better chance of receiving an invite much faster by sending me a PM. Remember, this Bad Ass BB is to be used with my Phoenix 1.119 indicator for best results. NOTE: I do NOT give one-on-one education in PM's or in public rooms. Nor do I give trading advice in PM's. I'm often too busy to allow my time to be absorbed by multiple PM's from multiple people each day. No disrespect intended by this notification. You would understand if you were in my shoes. Happy Trading and Stay Awesome! David
Pine Script™ indicator
by WyckoffMode
352
BANKNIFTY Free Float VolumeThis indicator is build keeping in mind how the Indian Market is formed - free-float market capitalization concept 1) Considered all banknifty index stocks according to NSE 2) Multiplied each stock Volume by its Weightage given in NSE Site every month End - means giving importance to volume by its weightage 3) Green Candle - Considered as +Ve Volume , Red Candle - Considered as -Ve Volume 4) Diff of +Ve Volume & -Ve Volume give clear picture market will go up or down Note:- This Indicator work only for 15 Min time frame Gives better results good Risk Reward used near Supp/Resistance Combine with BANKNIFTY / NIFTY Advance-Decline Ratio give confidence on the move Eg:- Bullish Scenario Near Support, Volume Turned -Ve to +Ve, Adv /Dec of Nifty >30/35 or BNF Adv /Dec > 7 or combine any candle patterns( Pin Bar ) at Sup/Res or combine with Chart Pattern(Triangle/ Rectangle ) Can take 75 Pts as SL and target 150-200 Pts Bearish Scenario - Vice Versa to above backtested results showed high Accuracy when used in combination of Sup/Res
Pine Script™ indicator
by SharemarketRaja
2
ATLAS Surge Data CubeATLAS Surge Data Cube The ATLAS Surge Data Cube is designed to provide a quick and easy glance at Welles Wilder's ATR (Average True Range) and to compare the current (or user defined) traded range against the another ATR (default is daily). A visual and graphic measure of the current range VS the daily range shows what percentage of the current period's range is to the daily ATR. Suggested stops are given on multiple time frames. Stops are further filtered with the SupterTrend indicator. Please send me a PM for access.
Pine Script™ indicator
by itsjustanalysis
Improved On balance volume with BB channel and double MAThis is an improved version of the on balance volume indicator. I made it inside a bollinger band channel, so we can define better the zones. At the same time I applied 2 moving averages on OBV, to get a better idea of the trend and at same time that change direction of the trend. Green - > uptrend - > we look for buy positions Red - > downtrend -> we look for sell positions. At the same time we have to be aware of crosses on bollinger bands, which can indicate a change in the trend .
Pine Script™ indicator
by SoftKill21
Divergence of Market Breadth & Price deduction indicatorHow it begin? Traders and investors use market breadth in order to assess the index’s overall health. Market breadth can be a reliable, if not an accurate, indicator of an upcoming price rise in the index. Similarly, it can also provide early warning signs for a future price decline. What is it？ market breadth in this case refer to percentage of stocks above 20 Simple Moving Average,which could be used as a barometer for the market. How it works? This paticular indicator compare the divergence of Nasdaq 100 and Russell 2000 percentage of stocks above 20 Simple Moving Average. This indicator also include a deduction price method ,which is inspired from LEI & LoneCapital
Pine Script™ indicator
by IcemanRan
NISHANTHMAGICBANDHi there, MAGICBAND consists of 2 lines above or below the price which acts as a resistance/support band in strong trending markets. It is a trend indicator, unlike regular indicators, where we use the signal line , MAGICBAND takes help of Double MACD and Pivot points to establish strong reversal points in any instrument you trade. Since volume is incorporated in it already, the thickness of the band gives an clear idea how strong the trend is. Strong trending markets have thick bandwidth and non trending markets have almost negligible band width. If you see that the band width of the band is increasing, that means that market is now attracting more volume in the direction of the band. GREEN Band means only buy and RED band means sell conditions. Optimal convergence/divergence settings have been used to stay put in the trend we are trading till the trend lasts. There is an option for the background color settings, BG turns screen to green or red as per the current band trend. PM in case of any doubts/wishing to have access to the indicator. Good Luck !!
Pine Script™ indicator
by nishanthkumar731
Market ProfileHello All, This is Market Profile script. "Market Profile is an intra-day charting technique (price vertical, time/activity horizontal) devised by J. Peter Steidlmayer. Steidlmayer was seeking a way to determine and to evaluate market value as it developed in the day time frame. The concept was to display price on a vertical axis against time on the horizontal, and the ensuing graphic generally is a bell shape--fatter at the middle prices, with activity trailing off and volume diminished at the extreme higher and lower prices." You better search it on the net for more information, you can find a lot of articles and books about the Market Profile. You have option to see Value Area, All Channels or only POC line, you can set the colors as you wish. Also you can choose the Higher Time Frame from the list or the script can choose the HTF for you automatically. Enjoy!
Pine Script™ indicator
by LonesomeTheBlue
123
Sweet OHLCSweet OHLC is a tasteful and flexible take on displaying the OHLC data for the previous and current trading sessions. Features include… During Pre-Market Hours (midnight to market open) Previous Day's High Previous Day's Low Previous Day's Close During Market Hours (session hours) Previous Day's High Previous Day's Low Previous Day's Close Today's Open Today's High Today's Low During Post-Market Hours (market close to midnight) Today's Open Today's High Today's Low Today's Close Styling Dark Mode Adjustable line widths Separate line styles for the previous day’s data and the current day’s data.
Pine Script™ indicator
by josiahmorgan
2
Stocks Advance/Decline HistogramStocks Advance/Decline Histogram indicator, which I call ADH is my own implementation that plots an histogram of the difference between the number of advancing and declining stocks on a daily basis (or higher time frame) for the NASDAQ and NYSE. How to use it? Green: More NYSE stocks are advancing than declining. Red: More NYSE stocks are declining than advancing. Light Green: More NASDAQ stocks are advancing than declining. Light Red: More NASDAQ stocks are declining than advancing. Note: Advance/Decline data is based on daily or higher time frames.
Pine Script™ indicator
by dman103
4
MS COT Commercial OscillatorStochastics indicator on the COT commercials net positions. It looks for the actual level of this value inbetween the extreme values of the lookback period. A value above 80 oder 90 percent is interpreted as a bulllish extreme, a value below 20 or 10 percent is interpreted accordingly a bearish. In fact the absolute level of the commercials net positions should be considered as well. The default value for the lookback period is 26 weeks. Higher values reduce the number of signals but increase their quality. This script actually was inspired by someone but I forgot by whom :-) ... my apology!
Pine Script™ indicator
by waynem59
3
Buying Selling Volume low lagOriginally written by @ceyhun I added a low lag filter to key components to smooth the bars. The user can adjust the parameters 'fast' and 'slow' to tune. capam The original comments of ceyhun are below repeated: Buying Selling Volume -Buy Volume -Sell Volume -Buy Volume Percent % -Sell Volume Percent % -Volume Index -Buy Sell Volume- BuyVolume>SellVolume=Blue barcolor SellVolume>BuyVolume=Purple barcolor -Volume Index- VolumeIndex>length and close > open =Cyan barcolor VolumeIndex>length and close < open =Gray barcolor VolumeIndex<=length = Yellow barcolor
Pine Script™ indicator
by capam
10
NYSE Advance/DeclineAn indicator for traders who trade intraday on the US market. It makes use of the symbols made available by TradingView to show the number of advancing vs declining stocks. The GREEN AREA represents advancing issues. The INTENSE GREEN AREA represents the advancing issues at daily high. The RED AREA represents declining issues. The INTENSE RED AREA represents the declining issues at daily low. The part above the BLUE LINE represents issues which are trading above their VWAP (volume-weighted average prices).
Pine Script™ indicator
by danarm
3