Dynamic RSI with Overbought/Oversold LinesDynamic RSI with Overbought/Oversold Lines
This indicator enhances the traditional RSI (Relative Strength Index) by dynamically adjusting the overbought and oversold levels based on the highest and lowest RSI values over a user-defined period. The indicator plots these levels as horizontal lines, allowing traders to visually identify when the market is "overbought" or "oversold."
Features:
Dynamic Overbought/Oversold Levels: Automatically adjusts the overbought and oversold levels based on the highest and lowest RSI values within the defined period, ensuring more accurate signals tailored to the current market conditions.
Customizable RSI Period: Choose your preferred RSI period to suit your trading strategy.
Signal Alerts: Visual signals are displayed when the RSI crosses into the overbought or oversold zone, indicating potential reversal points.
Background Color Alerts: The background changes color when the RSI exceeds overbought or oversold levels, making it easier to spot these important zones at a glance.
Clean and Simple: A minimalist design focusing on the key elements, making it suitable for all traders.
How to Use:
Overbought Zone: When the RSI moves above the overbought line (red), it may indicate that the asset is overbought, signaling a potential price reversal or pullback.
Oversold Zone: When the RSI moves below the oversold line (green), it may indicate that the asset is oversold, signaling a potential price bounce or reversal.
This dynamic RSI indicator is perfect for those looking to capture market extremes and improve their trading decisions. It's especially useful for timeframes like 30-minute and 1-hour charts, where market conditions tend to shift more rapidly.
Buysell
Weekly RSI Buy/Sell SignalsWeekly RSI Buy/Sell Signal Indicator
This indicator is designed to help traders identify high-probability buy and sell opportunities on the weekly chart by using the Relative Strength Index (RSI). By utilizing weekly RSI values, this indicator ensures signals align with broader market trends, providing a clearer view of potential price reversals and continuation.
How It Works:
Weekly RSI Calculation: This script calculates the RSI using a 14-period setting, focusing on the weekly timeframe regardless of the user’s current chart view. The weekly RSI is derived using request.security, allowing for consistent signals even on intraday charts.
Signal Conditions:
Buy Signal: A buy signal appears when the RSI crosses above the oversold threshold of 30, suggesting that price may be gaining momentum after a potential bottom.
Sell Signal: A sell signal triggers when the RSI crosses below the overbought threshold of 70, indicating a possible momentum shift downwards.
Visual Cues:
Buy/Sell Markers: Clear green "BUY" and red "SELL" markers are displayed on the chart when buy or sell conditions are met, making it easy to identify entry and exit points.
RSI Line and Thresholds: The weekly RSI value is plotted in real time with color-coded horizontal lines at 30 (oversold) and 70 (overbought), providing a visual reference for key levels.
This indicator is ideal for traders looking for reliable, trend-based signals on higher timeframes and can be a helpful tool for filtering out shorter-term market noise.
Buy/Sell IndicatorBuy/Sell Indicator
Overview
The Buy/Sell Indicator is designed to help traders identify potential entry and exit points in the market using a combination of Simple Moving Averages (SMA) and the Relative Strength Index (RSI). This indicator plots buy and sell signals directly on the chart, making it easier to make informed trading decisions.
Inputs
Fast MA Length: The period for the fast-moving average. Default is 9.
Slow MA Length: The period for the slow-moving average. Default is 21.
RSI Length: The period for the RSI calculation. Default is 14.
RSI Overbought Level: The RSI level considered overbought. Default is 70.
RSI Oversold Level: The RSI level considered oversold. Default is 30.
How It Works
Moving Averages:
The indicator calculates two SMAs: a fast-moving average (fastMA) and a slow-moving average (slowMA).
The fast MA reacts more quickly to price changes, while the slow MA reacts more slowly.
RSI:
The RSI is calculated to measure the momentum of price movements.
It helps identify overbought and oversold conditions in the market.
Buy and Sell Conditions:
Buy Signal: A buy signal is generated when the fast MA crosses above the slow MA and the RSI is below the overbought level.
Sell Signal: A sell signal is generated when the fast MA crosses below the slow MA and the RSI is above the oversold level.
Plotting
Buy Signals: Displayed as green labels below the bars where the buy condition is met.
Sell Signals: Displayed as red labels above the bars where the sell condition is met.
Moving Averages: The fast MA is plotted in blue, and the slow MA is plotted in orange.
Thrax - QuickStrike 5-Mins Scalping** Indicator Description **
1. Price Change Threshold (%) – The minimum price change required for a candle to be recognized as significant. Candles exceeding this threshold are considered potential candidates for zone creation. Default value for 5 min is 0.5%. As you move on higher timeframe the threshold should increase
2. Percentage Change for Zones (%) – The amount of price movement needed to form a dynamic support or resistance zone. Tweak this to control how sensitive the indicator is to price fluctuations. 5 min default value is 1%. For 15 min suggested is 2-3%.
3. Break Threshold for Zones (%) – Defines how much price must break above or below a zone for it to be removed from the chart/mitigated. Keeps the chart clean by removing invalidated zones. Default value is 0.1% in 5 min, for 15 min it is 0.5%.
4. Buy Zone Retracement Level (%) – The percentage retracement level for defining the inner buy zone within a broader bullish zone. Ideal for timing precision entries. Ideal value is 75%
5. Sell Zone Retracement Level (%) – The percentage retracement level used to determine the inner sell zone within a larger bearish zone. Helps in identifying potential reversal areas or exits. Ideal value is 25%
By tailoring these inputs, traders can fully customize the indicator to suit their scalping strategies, enhancing their ability to navigate fast-moving markets with confidence.
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There are two primary approaches for scalping using this indicator:
1. Candle-Based Scalping:
a. Bullish Signal: When you observe a bullish candle highlighted in blue (by default), you can consider entering a long position at the close of this candle. It’s advisable to wait for the candle to close before taking action. For a more aggressive scalp, you might take profits based on your scalp target after a few subsequent candles. If the price remains stagnant or moves unfavorably in the next few candles, you can exit with a small loss. Alternatively, if you have a higher risk tolerance, you may hold the position even if the price initially declines within a set percentage.
b. Bearish Signal: For a bearish candle highlighted in yellow, you can enter a short trade at the close of the candle. Similar to the bullish setup, you have the option to exit after a few candles if the price doesn’t move as expected or hold the position with a higher risk tolerance if the price goes up initially.
2. Zone-Based Scalping:
Entering Zones: Monitor the price as it enters a defined support or resistance zone. If you are open to higher risk, you can enter a trade immediately upon the price entering the zone. For a more cautious approach with a smaller stop loss, wait for the price to reach a retracement level within the zone before initiating your trade. This approach allows for a more precise entry but may result in missing out on trades if the price reverses before hitting the retracement level. Conversely, entering at the zone’s boundary offers the potential for early trade capture but comes with a higher stop loss risk.
Adjust these strategies based on your risk tolerance and trading preferences to optimize your scalping opportunities.
Turbo Oscillator [RunRox]Introducing Turbo Oscillator by RunRox, our new indicator that combines a multitude of useful and unique features, which we will detail in this post.
List of Advanced Technologies:
Real-Time Divergences: Detects discrepancies between price movements and oscillator indicators to forecast potential price reversals.
Real-Time Hidden Divergences: We identify hidden divergences in real-time. These are not the standard type of divergences; they are opposite to regular divergences, providing unique insights into potential market movements.
Overbought and Oversold Zones: Identifies areas where the market is potentially overextended, suggesting possible entry and exit points.
Signal Line: Indicates the market direction, helping traders to quickly understand current trends.
Money Flow Histogram: Shows the flow of money into and out of the market, providing insights into buying and selling pressure.
Predicted Reversal Zones: Pinpoints areas where the market might experience reversals, aiding in strategic planning and risk management. These zones also serve as potential areas for taking profits, enhancing their utility for exit strategy planning.
Customizable Alerts: You can flexibly set up alerts for any events detected by our indicator, ensuring you stay informed about critical market movements.
To begin with, I would like to describe the difference between classic divergences and hidden divergences.
As you can see, these are opposite situations. Our oscillator identifies both types of divergences and displays them in real-time.
Divergences can serve as points where the price might reverse in the opposite direction, making both classic and hidden divergences powerful tools for spotting reversal points. I'll show a few examples of how divergences are used in our oscillator.
Classic Divergences - which we identify in real-time. As you can see, the price often reacts strongly to the formation of these divergences, frequently changing its direction.
Hidden Divergences - we also observe frequent movement in the opposite direction on the chart. The advantage of our indicator is that we show divergences in real-time without delays, allowing you to react immediately to trend changes.
Overbought and Oversold Zones - These zones allow you to see trend changes when the price is clearly overbought or oversold. When the color changes from a contrasting shade to a neutral one, you can observe the trend shift. The lines work by combining the positivity/negativity of the histogram, the positivity/negativity of the signal line, and the direction of the signal line (red/green). This sophisticated interaction provides precise insights into market conditions, making it an invaluable tool for traders.
Signal Line - This provides insights into trend changes and price reversals. The points on the line better indicate the beginning of a trend shift. These points can vary in size, offering a clearer understanding of the strength of the emerging trend. This feature works in combination with RSI, Stochastic, and MFI. RSI and MFI are top-tier indicators, while Stochastic adds responsiveness and sensitivity to trend changes, ensuring you capture every market movement accurately and promptly.
Money Flow Histogram - As shown in the example, our histogram displays the divergence between money flow and the actual price. You can see that while the price is rising, the money flow is decreasing, indicating insufficient demand for the asset and an imminent trend change. This feature uses MFI with an extended period, providing a more comprehensive and accurate analysis of market conditions. The extended period enhances the reliability of the Money Flow Index, making it an essential tool for identifying subtle shifts in market dynamics.
Predicted Reversal Zones - We automatically identify potential price reversal zones and display them above our overbought and oversold zones. In cases of strong overbought or oversold conditions, we detect potential price pullbacks and mark the beginning of a trend change. This helps you better identify trend shifts. We recommend considering these zones as potential take profit points for your trades.
Customizable Alerts - Our flexible alert system allows you to receive notifications only for the events you are interested in. These can include:
1. Classic Divergences
2. Hidden Divergences
3. Overbought or Oversold conditions on the status line
4. Strong Overbought or Oversold conditions on the status line
5. Signals from the signal line
6. Reversal zones in any direction
Our oscillator is a unique indicator that provides a comprehensive understanding of price movements. It can be used as a standalone tool for analyzing price action.
Here are a few examples of using our Oscillator in practice:
In the example above, you can see three conditions that have formed for a potential trade:
1. Clear overbought condition with a formed reversal point.
2. Decreasing Money Flow Index diverging from the rising price.
3. Formed classic divergence.
The entry point could be the formed divergence, while the exit point could be the overbought condition at the bottom of the oscillator along with the reversal points.
Here's another example of using hidden divergence, where you can see three conditions for a potential trade:
1. Overbought zone
2. Formed hidden divergence
3. Start of bearish movement indicated by the signal line
You can enter the trade either when the hidden divergence forms or wait for confirmation of the trend change by the signal line and enter the trade when the corresponding signal forms on the signal line. The exit point could be the opposite reversal point or the formation of a new hidden divergence.
We have demonstrated a few examples of how you can use our indicator, but we are confident that you will find many more applications in your own strategies.
Oscillator offers a variety of customizable parameters to tailor the indicator to your trading preferences. Here’s what our settings include:
Signal Line
Turn On/Off: Enable or disable the signal line.
Length: Set the length period for the signal line calculation.
Smooth: Adjust the smoothing level of the signal line for more accurate display.
Histogram
Turn On/Off: Enable or disable the histogram.
Length: Set the length period for the histogram calculation.
Smooth: Adjust the smoothing level of the histogram.
Other
Show Divergence Line: Display divergence lines on the chart.
Show Hidden Divergence: Display hidden divergences.
Show Status Line: Show the status line indicating overbought or oversold conditions.
Show TP Signal: Display signals for take profit.
Show Reversal Points: Display potential trend reversal points.
Delete Broken Divergence Lines: Remove broken divergence lines from the chart.
Alerts Customization
Signal Line Bull/Bear: Set alerts for bullish or bearish signals from the signal line.
TP Bull/Bear: Set alerts for take profit signals.
Status Bull/Bear: Set alerts for bullish or bearish status conditions.
Status Bull+/Bear+: Set enhanced alerts for stronger bullish or bearish status conditions.
Divergence Bull/Bear: Set alerts for bullish or bearish divergences.
Hidden Divergence Bull/Bear: Set alerts for hidden bullish or bearish divergences.
With these comprehensive settings, you can fine-tune the Oscillator to perfectly fit your trading strategy and preferences.
Our indicator utilizes technologies such as RSI, Stochastic, and Money Flow Index, with numerous enhancements from our team. It includes exclusive features such as real-time detection of hidden and classic divergences, identification of reversal points using our unique methodology, and much more.
Disclaimer:
While we consider our Turbo Oscillator to be an excellent tool, it is important to understand that past performance is not indicative of future results. We recommend approaching market analysis comprehensively, using a combination of tools and techniques to make well-informed trading decisions. Always consider the full range of market data and risks when using any trading indicator.
Ehlers Combo Strategy🚀 Presenting the Enhanced Ehlers Combo Strategy 🚀
Hello Traders! 👋 I'm thrilled to share the latest version of the Ehlers Combo Strategy v2.0. This powerful algorithm combines Ehlers Elegant Oscillator, Decycler, Instantaneous Trendline, Spearman Rank, and introduces the Signal to Noise Ratio for even more precise trading signals.
📊 Strategy Highlights:
Ehlers Elegant Oscillator: Captures market momentum and turning points.
Ehlers Decycler: Filters out market noise for clearer trend signals.
Instantaneous Trendline: Offers a dynamic view of the market trend.
Spearman Rank: Analyzes market rank correlations for enhanced insights.
Signal to Noise Ratio (SNR): Filters out noise for more accurate signals.
💡 Key Features & Customizations:
Adaptive Length: Enable adaptive length based on the market's current conditions.
SNR Threshold: Set your desired SNR threshold for filtering signals.
Exit Length: Define the length for exit signals.
📈 Trading Signals:
Long Entry: Elegant Oscillator and Decycler cross above 0, source crosses above Decycler, source is greater than an increasing Instantaneous Trendline, Spearman Rank is positive, and SNR exceeds the threshold.
Long Exit: Source crosses below the Instantaneous Trendline after entering a long position.
Short Entry: Elegant Oscillator and Decycler cross below 0, source crosses below Decycler, source is less than a decreasing Instantaneous Trendline, Spearman Rank is negative, and SNR exceeds the threshold.
Short Exit: Source crosses above the Instantaneous Trendline after entering a short position.
📊 Insights & Enhancements:
Dynamic Length: The strategy adapts its length dynamically based on market conditions.
Improved SNR: Signal to Noise Ratio ensures better filtering of signals.
Enhanced Visualization: The Elegant Oscillator now features improved color coding for a clearer interpretation.
🚨 Disclaimer:
Trading involves risk, and this script should be used judiciously. It's not a guaranteed profit machine, but with careful use, it can be a valuable addition to your toolkit.
Feel free to backtest, tweak, and make it your own! Let's conquer the markets together! 💪📈
🚀✨ Happy Trading! ✨🚀
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🙌 Credits:
A big shoutout to the original contributors:
@blackcat1402
@cheatcountry
@DasanC
Call and Put by Powerful TradingThis script attempts to use Exponential Moving averages (short-term and long-term convergence) of different lengths in order to identify trade entries and exits for bullish & bearish trades. I would strongly recommend using it on Bank nifty , Nifty 50 . You use this script by entering a trade when it signals a green CALL signal with a UP label and exiting when it signals red put signal. The general idea is that one is fast and one is slow-moving EMA and these indicate when to buy/sell when they crossover the overbought/sold lines.
It also provides a vertical line with green and red color , when short ema is over it shows green vertical line and when short ema is below it provides red vertical line.
Best for bank nifty on 15 mins chart
BUY/SELL RSI FLIUX v1.0The "BUY/SELL RSI FLUX v1.0" indicator is designed to provide buy and sell signals based on the RSI (Relative Strength Index) and price action in relation to support and resistance levels. It overlays directly on the price chart and includes the following components:
- Support and Resistance Levels: Determined over a specified number of bars (lengthSR), these levels represent potential barriers where price action may stall or reverse.
- ATR (Average True Range): Used to measure market volatility. While it's calculated in the script, it's not visualized on the chart as per the latest modification.
- RSI: The RSI is calculated over a defined period (lengthRSI) and is used to identify overbought or oversold conditions. Buy signals are generated when the RSI is below the oversold threshold (rsiOversold) and the price is above the support level. Conversely, sell signals occur when the RSI is above the overbought threshold (rsiOverbought), the price is below the resistance level, and additionally, the price is below a long-term moving average, which acts as a trend filter.
- Long-Term Moving Average: This moving average is plotted to help identify the prevailing market trend. Sell signals are filtered based on the price's position in relation to this moving average.
- Buy/Sell Signals: Visual representations in the form of shapes are plotted below (for buy) or above (for sell) the price bars to indicate potential entry points.
By combining these elements, the indicator aims to provide high-probability trading signals that align with both the market's momentum and trend.
Ranges With Targets [ChartPrime]The Ranges With Targets indicator is a tool designed to assist traders in identifying potential trading opportunities on a chart derived from breakout trading. It dynamically outlines ranges with boxes in real-time, providing a visual representation of price movements. When a breakout occurs from a range, the indicator will begin coloring the candles. A green candle signals a long breakout, suggesting a potential upward movement, while a red candle indicates a short breakout, suggesting a potential downward movement. Grey candles indicate periods with no active trade. Ranges are derived from daily changes in price action.
This indicator builds upon the common breakout theory in trading whereby when price breaks out of a range; it may indicate continuation in a trend.
Additionally, users have the ability to customize their risk-reward settings through a multiplier referred to as the Target input. This allows traders to set their Take Profit (TP) and Stop Loss (SL) levels according to their specific risk tolerance and trading strategy.
Furthermore, the indicator offers an optional stop loss setting that can automatically exit losing trades, providing an additional layer of risk management for users who choose to utilize this feature.
A dashboard is provided in the top right showing the statistics and performance of the indicator; winning trades; losing trades, gross profit and loss and PNL. This can be useful when analyzing the success of breakout trading on a particular asset or timeframe.
Extreme Entry with Mean Reversion and Trend FilterThis non-repainting indicator is an improved version of my previous work, a more versatile tool designed to provide traders with dynamic and adaptive entry signals while incorporating a mean reversion and trend filtering mechanism. By combining RSI overbought/oversold, regular divergence and confirmatory momentum oscillator such as CCI or MOM, this indicator generates more precise and timely signals for entering trades.
The indicator offers a comprehensive set of entry conditions for both Buy and Sell entries:
• For Buy entries, it checks for oversold conditions based on RSI levels, and detects bullish divergence patterns while oversold and it identifies upward crossovers in the selected entry signal source (CCI or Momentum).
• Similarly, for Sell entries, it identifies downward crossovers of the CCI or Mom, after the recent overbought conditions, and bearish divergence patterns inside the overbought RSI.
To refine the entry signals even further, the indicator utilizes a mean reversion filter. Traders can choose to display signals that occur inside or outside the upper and lower mean reversion bands:
• Range Entries are indicating potential buying opportunities near the lower band and selling opportunities near the upper band. This is based on the concept of mean reversion, which suggests that prices tend to return to the average when they reach the upper or lower bands. By focusing on these signals, traders can take advantage of price movements that have a higher probability of reversing towards the mean.
• Extreme Entries, on the other hand, represent signals that occur outside of the bands, signaling potential pullbacks during strong trends. By entering positions only at extreme highs or lows, traders can avoid getting caught in the middle of the trend. This approach helps traders capitalize more favorable trading opportunities which have a high reward-risk ratio.
Trend Filter acts as a directional bias for the entry signals. When enabled, long and short entry conditions are filtered based on the relationship between the closing price and the EMA.
Traders have the flexibility to customize, tweak the indicator filter and values in the settings according to their preferences strategies and traded assets, tailoring the signals to their specific needs. The script sets alert conditions to trigger alerts for buy, sell, or both entry signals. This indicator can be used in conjunction with price action or other technical analysis tools for confirmation and better trading decisions.
I created this indicator for my own use, and I share this for informational purposes only. It does not constitute financial advice so use at your own risk and consider your financial situation before making any trading decisions. The indicator's accuracy is not guaranteed, and past performance is not indicative of future results.
I appreciate your feedback on this indicator. As I am new to script development, I am open to comments and suggestions to improve it. If you encounter any issues while using this indicator, please let me know in the comments section. If you find it helpful, I kindly ask for your support in boosting it. Thank you for your cooperation.
RSI Momentum Trend ScreenerIntroducing The RSI Momentum Trend Screener, to have the ability to scan 40 symbols at once
The screener is based on RSI Momentum Trend Indicator
It will show Positive Or Negative based on the symbol condition.
You can change the values on the screener, symbols, activate/disable symbols and change table position and color
Buy&Sell Bullish Engulfing - The Quant Science🇺🇸
GENERAL OVERVIEW
Buy&Sell Bullish Engulfing - The Quant Science It is a Buy&Sell strategy based on the 'Bullish Engulfing' candlestick pattern. The main goal of the strategy is to achieve a consistent and sustainable return over time, with a manageable level of risk.
Bullish Engulfing
The template was developed at the top of the Indicator provided by TradingView called 'Engulfing - Bullish'.
ENTRY AND EXIT CRITERIA
Entry: A single long order is opened when the candlestick pattern is formed, and the percentage size of the order (%) is fixed by the trader through the user interface.
Exit: The long trade is closed on a percentage equity take profit-stop loss.
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PANORAMICA GENERALE
Buy&Sell Bullish Engulfing - The Quant Science è una strategia Buy&Sell basata sul candlestick pattern 'Bullish Engulfing'. L'obiettivo principale della strategia è ottenere un ritorno costante e sostenibile nel tempo, con un livello gestibile di rischio.
Bullish Engulfing
Il template è stato sviluppato al top dell' Indicatore fornito da Trading View chiamato 'Engulfing - Bullish'.
CRITERI DI ENTRATA E USCITA
Entrata: viene aperto un singolo ordine long quando si forma il candlestick pattern, la size percentuale dell'ordine (%) viene selezionato tramite l'interfaccia utente dal trader.
Uscita: la chiusura della posizione avviene unicamente tramite un take profit-stop loss percentuale calcolato sul capitale.
BUY/SELL + ADVANCE DECLINEThis script is a custom trading view indicator that helps to identify potential buy and sell signals based on the RSI (Relative Strength Index) and SMA (Simple Moving Average) indicators. The script also identifies potential reversals using a combination of RSI and price action. It plots buy, sell, and reversal signals on the chart along with an SMA line. Additionally, it provides alerts based on the buy, sell, and reversal conditions.
Changes made to the original script:
Fixed the undeclared identifier 'c' error by calculating the difference between the current closing price and the previous closing price: c = close - close .
Added an "ADD Value Floating Label" to the chart. The label shows the difference between the current and previous closing prices (ADD value) along with a "Bullish" or "Bearish" indicator based on the value of 'c'. The label is positioned at the top right of the visible chart area and remains static.
Here's a summary of the major components of the script:
Input settings: Define the input parameters for RSI and SMA.
Calculation of RSI and SMA: Compute the RSI and SMA values based on the input parameters.
Color definitions: Define colors for different conditions and levels.
Condition definitions: Define various conditions for buy, sell, reversal, and other criteria.
Buy and sell conditions: Determine buy and sell signals based on RSI, SMA, and price action.
Reversal conditions: Identify potential reversals using RSI and price action.
Plot signals: Display buy, sell, and reversal signals on the chart.
Bar colors: Color the bars based on the identified signals.
Plot SMA: Display the SMA line on the chart.
Alert conditions: Set up alerts for buy, sell, and reversal conditions.
ADD Value Floating Label: Add a label to the chart showing the ADD value and a "Bullish" or "Bearish" indicator.
ADX Trend FilterADX Trend Filter Indicator is a traditional ADX indicator with a different presentation. its consist of two indicators EMA TREND and ADX / DMI
About Indicator:
1. BAND / EMA band to represent EMA Trend of EMA-12 and EMA-50
(Band is plotted at level-20 which is the Threshold level of DMI / ADX indicator)
2. Histogram showing the direction of ADX / DMI trend
3. Area behind the histogram showing ADX/DMI strength
How to use?
1. Histogram represents current Trend Red for Bearish / Green for Bullish
2. Area behind the histogram represents Strength of ADX / DMI Threshold level is 0-20(represented as band). (Area below the Band is Sideways)
3. Band represents the current MA Trend.
4. Buy Sell signals are plotted as triangles in red/green obtained from ADX / DMI Crossovers
Buy Signal (Green Triangle on band- ADX Crossover)
1.Band below Histogram must be Green
2.Histogram must be green
3.Area behind histogram must be above the lower trend band (20level) and visible
Sell Signal (Red Triangle on band- ADX Crossover)
1.Band below Histogram must be Red
2.Histogram must be Red
3.Area behind histogram must be above the lower trend band (20level) and visible
Alerts provided for ADX crossovers.
Buy Sell Calendar [LuxAlgo]The Buy Sell Calendar indicator displays a calendar showing the sentiment for the current day/month. Three different methods can be used to determine this sentiment.
The calendar can also highlight the percentage of bullish days/months for a month/year.
🔶 SETTINGS
Frequency: Calendar frequency, options include "Daily" and "Monthly"
Sentiment Method: Method used to determine the sentiment for the day/month, options include: "Linreg", "Accumulated Deltas", and "Max/Min"
Timezone Offset: UTC time zone offset.
Limit Date: Limit date used by the calendar, the sentiment of days/months outside this limit will not be returned.
🔹 Calendar
Show Calendar: Determines whether to display or hide the calendar.
Location: Location of the calendar on the chart.
Size: Calendar size.
🔶 USAGE
The proposed script can allow users to quickly determine if a specific day/month is considered bullish or bearish. A green cell is used for bullish days/months, while a red one is used for bearish days/months.
Additionally vertical lines are displayed on new days/months with a color highlighting the current sentiment for this specific day/month. Note that this is done retrospectively, the color of a line set at time t might differ at time t+n .
🔶 SENTIMENT METHODS
Determining whether a day/month is bullish or bearish can be done using three different methods. Note that each method makes use of the closing price as the input, and as such can eventually return different results depending on the selected timeframe. Each method is described below:
🔹 Linreg
The Linreg method fit lines between each day/month using the method of least squares and determines if that particular day is bullish or bearish based on the line slope sign. For example, a rising line would indicate a bullish day/month.
🔹 Accumulated Deltas
The method of accumulated deltas simply accumulates bullish and bearish price changes for the current day/month, the result with the highest magnitude determines the sentiment for that day/month.
🔹 Max/Min
The max/min method computes a trailing maximum and a trailing minimum for the current day/month. The sentiment is determined by the price position relative to the average between the obtained maximum/minimum, with a bullish sentiment being determined if price is above the average.
Orb breakout Buy condition =>ORB range 9:20-9:25. On 5 min TF if candle breaks high and next candle break high of that candle. buy signal when third candle breaks high of 2nd candle
Sell condition=>ORB range 9:20-9:25. On 5 min TF if candle breaks low and next candle break low of that candle. sell signal when third candle breaks low of 2nd candle
this indicator is extended version of my previous indicator i got a comment request from @RISHISAKHARE to devlope indicator based on above mention rule ....
MAGIC MACDMAGIC MACD ( MACD Indicator with Trend Filter and EMA Crossover confirmation and Momentum). This MACD uses Default Trading view MACD
from Technical indicators library and adding a second MACD along with 3 EMA's to detect Trend and confirm MACD Signal.
Eliminates usage of 3different indicators (Default MACD , MACD-2,EMA5, EMA20, EMA50)
Basic IDEA.
Idea is to filter Histogram when price is above or below 50EMA. Similar to QQE -mod oscillator but Has a EMA Filter
1.Take DEFAULT MACD crossover signals with lower period
2.check with a Higher MACD Histogram.
3.Enter upon EMA crossover signal and Histogram confirmation.
Histogram changes to GRAY when price is below EMA 50 or above EMA 50 (Follows Trend)
4.Exit on next Default MACD crossover signal.
Overview :
Moving Average Convergence Divergence Indicator Popularly Known as MACD is widely used. MACD Usually generates a lots of False signals
and noise in Lower Time Frames, making it difficult to enter a trade in sideways market. Divergence is a major issue along with sideways
movement and tangling of MACD and Signal Lines. There is no way to confirm a Default MACD signal, except to switch time frames and
verify.
Magic MACD Can be used to in combination with other signals.
This MACD uses two MACD Signals to verify the signal given by Default MACD . The Histogram Plot shown is of a higher period
MACD (close,5,50,30) values. When a signal is generated on a lower MACD it is verified by the histogram with higher time period.
Technicals Used:
1. Lower MACD-1 values 12,26 and signal-9 (crossover Signals)
2. Higher MACD-2 values 5,50 and signal-30 (Histogram)
3. EMA 50 (Histogram Filter to allow only if price above or below Ema 50)
4. EMA 5 and EMA 20 for crossover confirmation of trend
What's is in this Indicator?
1.Histogram-(higher period 5,50 and 30signal)
2. MACD crossover Signals-(lower period Default MACD setting)
3.Signal Lines-( EMA 5 & 20)
Implemented & Removed in this Indicator
1. Default MACD and Signal Lines are removed completely
2. MACD crossover are taken on lower periods and plotted as signals(Blue Triangle or Red Triangle)
3. Histogram is plotted from a higher Period providing a clear picture with Higher Time period
4. EMA 5 and EMA 20 are used for MACD signal confirmation
How to use?
Up Signal
1. MACD Default (12,26,30) up signals are shown in Blue
2. Wait till the Histogram changes Blue
3. Look for EMA signals crossover near by
Down Signal
1. MACD Default (12,26,30) up signals are shown in Red
2. Wait till the Histogram changes Red
3. Look for EMA signals crossover near by
Do's
Consider only opposite color as signals
1. Red Triangle on Blue Histogram(likely to move down direction)
2. Blue Triangle on Red Histogram (Likely to move up direction)
Don'ts
1.Ignore Blue Signal on Blue Histogram (pull back signals can be used to enter trade if you miss first crossover)
2.Ignore Red Signal on Red Histogram(pull back signals can be used to enter trade if you miss first crossover)
3.Ignore Up and Down signals till Gray or Blacked out area is finished in Histogram
Tips:
1. EMA plot also shows pull back areas along with signals
2.side by side opposite signals shows sides ways movement
3. EMA 5,20 is plotted on MACD Histogram for Additional Benefit
Thanks & Credits
To Tradingview Team for allowing me to use their default MACD version and coding it in to a MAGIC MACD by adding a few lines of code that
makes it more enhanced.
Warning...!
This is purely for Educational purpose only. Not to be used as a stand alone indicator. Usage is at your own Risk. Please get familiar with its working before implementing. Its not a Financial Advice or Suggestion . Any losses or gains is at your own risk.
[-_-] Volatility Calibrated ATRDescription:
An indicator based on ATR adjusted for volatility of the market. It uses Heikin Ashi data to find short and long opportunities and displays a dynamic stop loss level. Additionally, it has alerts for when the trend changes (which is an entry signal).
How it works:
It works by dynamically calculating the Period for ATR which depends on current volatility level that is calculated by a function that uses Standard Deviation of price. ATR is then smoothed by Weighted Moving Average and multiplied by ATR Factor, resulting in a plot that changes its colour to red when we're in a downtrend and green when in an uptrend. This plot should be used as a dynamic Stop Loss level. Trend change is determined by price crossing the dynamic Stop Loss level. The squared red and green labels appear when the trend changes, and should be used as Entry signals.
Parameters:
- Source -> data used for calculations
- ATR Factor -> higher values produce less noise and longer trends, lower values give more signals
Chandelier Exit ZLSMA StrategyIntroduction
Heyo guys, I recently checked out some eye-catching trading strategy videos on YT and found one to test.
This indicator is based on the video.
Usage
The recommended timeframe is 5 min.
Signals
Long Entry => L Label
Price crosses above ZLSMA and Chandelier Exit shows Buy
Long Exit => green circle
Price crosses below ZLSMA
Short Entry => S Label
Price crosses below ZLSMA and Chandelier Exit shows Sell
Short Exit => orange circle
Prices crosses above ZLSMA
Ty for checking this out. Enjoy!
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Credits to
@netweaver2011 - ZLSMA
@everget – Chandelier Exit
TUE ADX/MACD Confluence V1.0The ADX and MACD confluence can be a powerful predictor in stock movements. This script will help you find those confluences in an easy to understand visual manner.
It includes Buy and Sell signals for detected confluences, and will show colored candles to help you determine when to exit a trade. When the candles turn to white that means the detected confluence is no longer in play and you may want to consider a trailing stop loss.
The Buy and Sell signals will display on the first occurrence of each confluence.
It's important to understand that both of these are lagging indicators, but with a careful attention to your stoploss you can easily generate a positive profit factor.
This code is provided open source and you're free to use it for any purpose other than resale.
Mesa Advanced TriggersThis indicator is based on the indicator 'MESA Phase ' by shayankm (so shoutouts to him for the open source code)
MESA Phase :
sayankm: www.tradingview.com
In this advanced version of the indicator, green/red dots will be printed on the pivot points & alerts can be triggered on these. There is also a zone (which you can adjust) that dot's will not be printed in, you want to adjust this to try and avoid dots being printed during sideways movement.
72s Strat: Backtesting Adaptive HMA+ pt.1This is a follow up to my previous publication of Adaptive HMA+ few months ago, as a mean to provide some kind of initial backtesting tools. Which can be use to explore many possible strategies, optimise its settings to better conform user's pair/tf, and hopefully able to help tweaking your general strategy.
If you haven't read the study or use the indicator, kindly go here first to get the overall idea.
The first strategy introduce in this backtest is one most basic already described in the study; buy/sell is when movement is there and everything is on the right side; When RSI has turned to other side, we can use it as exit point (if in profit of course, else just let it hit our TP/SL, why would we exit before profit). Also, base on RSI when we make entry, we can further differentiate type of signals. --Please check all comments in code directly where the signals , entries , and exits section are.
Second additional strategy to check; is when we also use second faster Adaptive HMA+ for exit. So this is like a double orders on a signal but with different exit-rule (/more on this on snapshots below). Alternatively, you can also work the code so to only use this type of exit.
There's also an additional feature which you can enable its visuals, the Distance Zone , is to help measuring price distance to our xHMA+. It's just a simple atr based envelope really, I already put the sample code in study's comment section, but better gonna update it there directly for non-coder too, after this.
In this sample I use Lot for order quantity size just because that's what I use on my broker. Also what few friends use while we forward-testing it since the study is published, so we also checked/compared each profit/loss report by real number. To use default or other unit of measurement, change the entry code accordingly.
If you change your order size, you should also change the commission in Properties Tab. My broker commission is 5 USD per order/lot, so in there with example order size 0.1 lot I put commission 0.5$ per order (I'll put 2.5$ for 0.5 lot, 10$ for 2 lot, and so on). Crypto usually has higher charge. --It is important that you should fill it base on your broker.
SETTINGS
I'm trying to keep it short. Please explore it further again. (Beginner should also first get acquaintance with terms use here.)
ORDERS:
Base Minimum Profit Before Exit:
The number is multiplier of ongoing ATR. Means that when basic exit condition is met, algo will check whether you're already in minimum profit or not, if not, let it still run to TP or SL, or until it meets subsequent exit condition, then it will check again.
Default Target Profit:
Multiplier of ATR at signal. If reached before any eligible exit condition is met, exit TP.
Base StopLoss Point:
You can change directly in code to use other like ATR Trailing SL, fix percent SL, or whatever. In the sample, 4 options provided.
Maximum StopLoss:
This is like a safety-net, that if at some point your chosen SL point from input above happens to be exceeding this maximum input that you can tolerate, then this max point is the one will be use as SL.
Activate 2nd order...:
The additional doubling of certain buy/sell with different exits as described above. If enable, you should also set pyramiding to at least: 2. If not, it does nothing.
ADAPTIVE HMA+ PERIOD
Many users already have their own settings for these. So in here I only sample the default as first presented in the study. Make it to your adaptive.
MARKET MOVEMENT
(1) Now you can check in realtime how much slope degree is best to define your specific pair/tf is out of congestion (yellow) area. And (2) also able to check directly what ATR lengths are more suitable defining your pair's volatility.
DISTANCE ZONE
Distance Multiplier. Each pair/tf has its own best distance zone (in xHMA+ perspective). The zone also determine whether a signal should appear or not. (Or what type of signal, if you wanna go more detail in constructing your strategy)
USAGE
(Provided you already have your own comfortable settings for minimum-maximum period of Adaptive HMA+. Best if you already have backtested it manually too and/or apply as an add-on to your working strategy)
1. In our experiences, first most important to define is both elements in the Market Movement Settings . These also tend to be persistent for whole season since it's kinda describing that pair/tf overall behaviour. Don't worry if you still get a low Profit Factor here, but by tweaking you should start to see positive changes in one of Max Drawdown and Net Profit, or Percent Profitable.
2. Afterwards, find your pair/tf Distance Zone . When optimising this, what we seek is just a "not to bad" equity curves to start forming. At least Max Drawdown should lessen more. Doesn't have to be great already, but should be better, no red in Net Profit.
3. Then go manage the "Trailing Minimum Profit", TP, SL, and max SL.
4. Repeat 1,2,3. 👻
5. Manage order size, commission, and/or enable double-order (need pyramiding) if you like. Check if your equity can handle max drawdown before margin call.
6. After getting an acceptable backtest result, go to List of Trades tab and find the biggest loss or when many sequencing loss in a row happened. Click on it to go to exact point on chart, observe why the signal failed and get at least general idea how it can be prevented . The rest is yours, you should know your pair/tf more than other.
You can also re-explore your minimum-maximum period for both Major and minor xHMA+.
Keep in mind that all numbers in Setting are conceptually in a form of range . You don't want to get superb equity curves but actually a "fragile" , means one can easily turn it to disaster just by changing only a fraction in one/two of the setting.
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If you just wanna test the strength of the indicator alone, you can disable "Use StopLoss" temporarily while optimising settings.
Using no SL might be tempting in overall result data in some cases, but NOTE: It is not recommended to not using SL, don't forget that we deliberately enter when it's in high volatility. If want to add flexibility or trading for long-term, just maximise your SL. ie.: chose SL Point>ATR only and set it maximum. (Check your max drawdown after this).
I think this is quite important specially for beginners, so here's an example; Hypothetically in below scenario, because of some settings, the buy order after the loss sell signal didn't appear. Let's say if our initial capital only 1000$ using leverage and order size 0,5 lot (risky position sizing already), moreover if this happens at the beginning of your trading season, that's half of account gone already in one trade . Your max SL should've made you exit after that pumping bar.
The Trailing Minimum Profit is actually look like this. Search in the code if you want to plot it. I just don't like too many lines on chart.
To maximise profit we can try enabling double-order. The only added rule coded is: RSI should rising when buy and falling when sell. 2nd signal will appears above or below default buy/sell signal. (Of course it's also prone to double-loss, re-check your max drawdown after. Profit factor play its part in here for a long run). Snapshot in comparison:
Two default sell signals on left closed at RSI exit, the additional sell signal closed later on when price crossover minor xHMA+. On buy side, price haven't met our minimum profit when first crossunder minor xHMA+. If later on we hit SL on this "+buy" signal, at least we already profited from default buy signal. You can also consider/treat this as multiple TP points.
For longer-term trading, what you need to maximise is the Minimum Profit , so it won't exit whenever an exit condition happened, it can happen several times before reaching minimum profit. Hopefully this snapshot can explain:
Notice in comparison default sell and buy signal now close in average after 3 days. What's best is when we also have confirmation from higher TF. It's like targeting higher TF by entering from smaller TF.
As also mention in the study, we can still experiment via original HMA by putting same value for minimum-maximum period setting. This is experimental EU 1H with Major xHMA+: 144-144, Flat market 13, Distance multiplier 3.6, with 2nd order activated.
Kiwi was a bit surprising for me. It's flat market is effectively below 6, with quite far distance zone of 3.5. Probably because I'm using big numbers in adaptive period.
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The result you see in strategy tester report below for EURUSD 15m is using just default settings you see in code, as follow:
0,1 lot for each order (which is the smallest allowed by my broker).
No pyramiding. Commission: 0.5 usd per order. Slippage: 3
Opening position is only using basic strategy #1 (RSI exit). Additional exit not activated.
Minimum Profit: 1. TP: 3.
SL use: Half-distance zone. Max SL: 4.5.
Major xHMA+: 172-233. minor xHMA+: 89-121
Distance Zone Multiplier: 2.7
RSI: Standard 14.
(From our forward-testing, the difference we get from net profit is because of the spread, our entry isn't exactly at the close/open price. Not so much though, but not the same. If somebody can direct me to any example where we can code our entry via current bid/ask price, that would be awesome!)
It's already a long post (sorry), think I'm gonna pause here. Check out the code :)
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DISCLAIMER: Past performance is no guarantee of future results , and so on.. you know the drill ;)
Please read whole description first before using, don't take 1-2 paragraph and claim it's the whole logic, you are responsible of your own actions and understanding.
Rolling Cumulative VolumeThis indicator show a simple rolling cumulative volume. A field is specified. Then all last volume indicators are summed.
For example it could calculate last 24h Volume if you use the 1h bars and set the length for 24.
