[EmreKb] MTF FTRDescription
Multi time frame version of "Failed to Return by EmreKb" indicator.
What is FTR?
There is no definitive, fixed perspective on FTR. Some sources may choose the FTR zone differently. I will use the single bearish candle in an uptrend (or the single bullish candle in a downtrend) as the FTR in this indicator.
Settings
Update Last: Number of how many boxes will be updated in the new candle
Timeframes: Presets for timeframe option
Use Custom: For use custom timeframes
Custom Timeframes: Text area for write custom timeframes without space and separate with comma.
Candlestick analysis
[EmreKb] Pinbar AnalysisDescription
The Pinbar Analyzer tool will count how many ltf candles are inside the wick and the total volume inside the wick.
How it works?
Calculate candle count of inside wick and volumes. Than display like below image
T/iW: Total Candle / Total inside Wick
ROiW: Rate of inside wick candle count
TV/WV: Total volume / Wick volume
Naive Bayes Candlestick Pattern Classifier v1.1 BETAAn intermezzo on why i made this script publication..
A : Candlestick Pattern took hours to backtest, why not using Machine Learning techniques?
B : Machine Learning, no that's gonna be really heavy bro!
A : Not really, because we use Naive Bayes.
B : The simplest, yet powerful machine learning algorithm to separate (a.k.a classify) multivariate data.
----------------------------------------------------------------------------------------------------------------------
Hello, everyone!
After deep research in extracting meaningful information from the market, I ended up building this powerful machine learning indicator based on the evolution of Bayesian Statistics. This indicator not only leverages the simplicity of Naive Bayes but also extends its application to candlestick pattern analysis, making it an invaluable tool for traders who are looking to enhance their technical analysis without spending countless hours manually backtesting each pattern on each market!.
What most interesting part is actually after learning all of likely useless methods like fibonacci, supply and demand, volume profile, etc. We always ended up back to basic like support and resistance and candlestick patterns, but with a slight twist on strategy algorithm design and statistical approach. Thus, the only reason why i made this, because i exactly know that you guys will ended up in this position as time goes by.
The essence of this indicator lies in its ability to automate the recognition and statistical evaluation of various candlestick patterns. Traditionally, traders have relied on visual inspection and manual backtesting to determine the effectiveness of patterns like Bullish Engulfing, Bearish Engulfing, Harami variations, Hammer formations, and even more complex multi-candle patterns such as Three White Soldiers, Three Black Crows, Dark Cloud Cover, and Piercing Pattern. However, these conventional methods are both time-consuming and prone to subjective bias.
To address these challenges, I employed Naive Bayes—a probabilistic classifier that, despite its simplicity, offers robust performance in various domains. Naive Bayes assumes that each feature is independent of the others given the class label, which, although a strong assumption, works remarkably well in practice, especially when the dataset is large like market data and the feature space is high-dimensional. In our case, each candlestick pattern acts as a feature that can be statistically evaluated based on its historical performance. The indicator calculates a probability that a given pattern will lead to a price reversal, by comparing the pattern’s close price to the highest or lowest price achieved in a lookahead window.
One of the standout features of this script is its flexibility. Each candlestick pattern is not only coded into the system but also comes with individual toggles to enable or disable them based on your trading strategy. This means you can choose to focus on single-candle patterns like Bullish Engulfing or more complex multi-candle formations such as Three White Soldiers, without modifying the core code. The built-in customization options allow you to adjust colors and labels for each pattern, giving you the freedom to tailor the visual output to your preference. This level of customization ensures that the indicator integrates seamlessly into your existing TradingView setup.
Moreover, the indicator isn’t just about pattern recognition—it also incorporates outcome-based learning. Every time a pattern is detected, it looks ahead a predefined number of bars to evaluate if the expected reversal actually materialized. This outcome is then stored in arrays, and over time, the script dynamically calculates the probability of success for each pattern. These probabilities are presented in a real-time updating table on your chart, which shows not only the percentage probability but also the count of historical occurrences. With this information at your fingertips, you can quickly gauge the reliability of each pattern in your chosen market and timeframe.
Another significant advantage of this approach is its speed and efficiency. While more complex machine learning models like neural networks might require heavy computational resources and longer training times, the Naive Bayes classifier in this script is lightweight, instantaneous and can be updated on the fly with each new bar. This real-time capability is essential for modern traders who need to make quick decisions in fast-paced markets.
Furthermore, by automating the process of backtesting, the indicator frees up your time to focus on other aspects of trading strategy development. Instead of manually analyzing hundreds or even thousands of candles, you can rely on the statistical power of Naive Bayes to provide you with insights on which patterns are most likely to result in profitable moves. This not only enhances your efficiency but also helps to eliminate the cognitive biases that often plague manual analysis.
In summary, this indicator represents a fusion of traditional candlestick analysis with modern machine learning techniques. It harnesses the simplicity and effectiveness of Naive Bayes to deliver a dynamic, real-time evaluation of various candlestick patterns. Whether you are a seasoned trader looking to refine your technical analysis or a beginner eager to understand market dynamics, this tool offers a powerful, customizable, and efficient solution. Welcome to a new era where advanced statistical methods meet practical trading insights—happy trading and may your patterns always be in your favor!
Note : On this current released beta version, you must manually adjust reversal percentage move based on each market. Further updates may include automated best range detection and probability.
5-Min Trendline Breakout Based on H1 S/R [ABU SETTS]Trail, just wrote and still doing tuning.
What Changed?
Fixed plotshape Size Argument:- Added a switch statement to convert the input string (breakout_label_size) into a const string (label_size).
This ensures the size argument in plotshape receives a valid const string.
Improved Flexibility: - The breakout_label_size input now works correctly with plotshape and label.new.
How to Use
Adjust the Pivot Length, Slope Multiplier, and other inputs to customize the script.
Use the Breakout Label Size dropdown to select the size of the breakout labels (tiny, small, or normal).
Toggle Show Only Confirmed Breakouts to filter out unconfirmed signals.
KDJ J Value Strategy (Weekly)This strategy is based on the KDJ indicator at the weekly level, using the changes in the J value to generate buy and sell signals. When the J value drops below -5, it is considered a buy signal; when the J value rises above 90, it is considered a sell signal.
Breakout Probability (Expo) - Enhanced with SMA DistanceO Que Foi Ajustado?
Exibição Apenas no Último Candle:
Adicionei a condição if barstate.islast para garantir que os labels da distância da SMA e da volatilidade do BTC sejam exibidos apenas no último candle.
Labels Dinâmicos:
Os labels são criados apenas no último candle, evitando sobreposição desnecessária em candles anteriores.
Como Funciona Agora
A distância percentual da SMA e a volatilidade do BTC são exibidas apenas no último candle.
As informações são atualizadas dinamicamente conforme o preço se move.
AMD Session Structure Levels# Market Structure & Manipulation Probability Indicator
## Overview
This advanced indicator is designed for traders who want a systematic approach to analyzing market structure, identifying manipulation, and assessing probability-based trade setups. It incorporates four core components:
### 1. Session Price Action Analysis
- Tracks **OHLC (Open, High, Low, Close)** within defined sessions.
- Implements a **dual tracking system**:
- **Official session levels** (fixed from the session open to close).
- **Real-time max/min tracking** to differentiate between temporary spikes and real price acceptance.
### 2. Market Manipulation Detection
- Identifies **manipulative price action** using the relationship between the open and close:
- If **price closes below open** → assumes **upward manipulation**, followed by **downward distribution**.
- If **price closes above open** → assumes **downward manipulation**, followed by **upward distribution**.
- Normalized using **ATR**, ensuring adaptability across different volatility conditions.
### 3. Probability Engine
- Tracks **historical wick ratios** to assess trend vs. reversal conditions.
- Calculates **conditional probabilities** for price moves.
- Uses a **special threshold system (0.45 and 0.03)** for reversal signals.
- Provides **real-time probability updates** to enhance trade decision-making.
### 4. Market Condition Classification
- Classifies market conditions using a **wick-to-body ratio**:
```pine
wick_to_body_ratio = open > close ? upper_wick / (high - low) : lower_wick / (high - low)
```
- **Low ratio (<0.25)** → Likely a **trend day**.
- **High ratio (>0.25)** → Likely a **range day**.
---
## Why This Indicator Stands Out
### ✅ Smarter Level Detection
- Uses **ATR-based dynamic levels** instead of static support/resistance.
- Differentiates **manipulation from distribution** for better decision-making.
- Updates probabilities **in real-time**.
### ✅ Memory-Efficient Design
- Implements **circular buffers** to maintain efficiency:
```pine
var float manipUp = array.new_float(lookbackPeriod, 0.0)
var float manipDown = array.new_float(lookbackPeriod, 0.0)
```
- Ensures **constant memory usage**, even over extended trading sessions.
### ✅ Advanced Probability Calculation
- Utilizes **conditional probabilities** instead of simple averages.
- Incorporates **market context** through wick analysis.
- Provides **actionable signals** via a probability table.
---
## Trading Strategy Guide
### **Best Entry Setups**
✅ Wait for **price to approach manipulation levels**.
✅ Confirm using the **probability table**.
✅ Check the **wick ratio for context**.
✅ Enter when **conditional probability aligns**.
### **Smart Exit Management**
✅ Use **distribution levels** as **profit targets**.
✅ Scale out **when probabilities shift**.
✅ Monitor **wick percentiles** for confirmation.
### **Risk Management**
✅ Size positions based on **probability readings**.
✅ Place stops at **manipulation levels**.
✅ Adjust position size based on **trend vs. range classification**.
---
## Configuration Tips
### **Session Settings**
```pine
sessionTime = input.session("0830-1500", "Session Hours")
weekDays = input.string("23456", "Active Days")
```
- Match these to your **primary trading session**.
- Adjust for different **market opens** if needed.
### **Analysis Parameters**
```pine
lookbackPeriod = input.int(50, "Lookback Period")
low_threshold = input.float(0.25, "Trend/Range Threshold")
```
- **50 periods** is a good starting point but can be optimized per instrument.
- The **0.25 threshold** is ideal for most markets but may need adjustments.
---
## Market Structure Breakdown
### **Trend/Continuation Days**
- **Characteristics:**
✅ Small **opposing wicks** (minimal counter-pressure).
✅ Clean, **directional price movement**.
- **Bullish Trend Day Example:**
✅ Small **lower wicks** (minimal downward pressure).
✅ Strong **closes near the highs** → **Buyers in control**.
- **Bearish Trend Day Example:**
✅ Small **upper wicks** (minimal upward pressure).
✅ Strong **closes near the lows** → **Sellers in control**.
### **Reversal Days**
- **Characteristics:**
✅ **Large opposing wicks** → Failed momentum in the initial direction.
- **Bullish Reversal Example:**
✅ **Large upper wick early**.
✅ **Strong close from the lows** → **Sellers failed to maintain control**.
- **Bearish Reversal Example:**
✅ **Large lower wick early**.
✅ **Weak close from the highs** → **Buyers failed to maintain control**.
---
## Summary
This indicator systematically quantifies market structure by measuring **manipulation, distribution, and probability-driven trade setups**. Unlike traditional indicators, it adapts dynamically using **ATR, historical probabilities, and real-time tracking** to offer a structured, data-driven approach to trading.
🚀 **Use this tool to enhance your decision-making and gain an objective edge in the market!**
Daily Bias IndicatorBasic ICT Daily Bias Indicator
When yesterday's price breaks above and closes above the high of the day before yesterday, it indicates a bullish bias.
When yesterday's price tests the low of the day before yesterday but does not break below it, it indicates a bullish bias.
When yesterday's price breaks below and closes below the low of the day before yesterday, it indicates a bearish bias.
When yesterday's price tests the high of the day before yesterday but does not break above it, it indicates a bearish bias.
Ultimate T3 Fibonacci for BTC Scalping. Look at backtest report!Hey Everyone!
I created another script to add to my growing library of strategies and indicators that I use for automated crypto trading! This strategy is for BITCOIN on the 30 minute chart since I designed it to be a scalping strategy. I calculated for trading fees, and use a small amount of capital in the backtest report. But feel free to modify the capital and how much per order to see how it changes the results:)
It is called the "Ultimate T3 Fibonacci Indicator by NHBprod" that computes and displays two T3-based moving averages derived from price data. The t3_function calculates the Tilson T3 indicator by applying a series of exponential moving averages to a combined price metric and then blending these results with specific coefficients derived from an input factor.
The script accepts several user inputs that toggle the use of the T3 filter, select the buy signal method, and set parameters like lengths and volume factors for two variations of the T3 calculation. Two T3 lines, T3 and T32, are computed with different parameters, and their colors change dynamically (green/red for T3 and blue/purple for T32) based on whether the lines are trending upward or downward. Depending on the selected signal method, the script generates buy signals either when T32 crosses over T3 or when the closing price is above T3, and similarly, sell signals are generated on the respective conditions for crossing under or closing below. Finally, the indicator plots the T3 lines on the chart, adds visual buy/sell markers, and sets alert conditions to notify users when the respective trading signals occur.
The user has the ability to tune the parameters using TP/SL, date timerames for analyses, and the actual parameters of the T3 function including the buy/sell signal! Lastly, the user has the option of trading this long, short, or both!
Let me know your thoughts and check out the backtest report!
950 StandardNQ 9:50 AM Candle Strategy v3 (Trade at 9:55AM) - 1 Contract
Also called 950 Standard, 950 Bar, or The 950 Strategy.
This strategy places its trade at 9:55am each day based on the close of the 9:50am candle. Uses 5min timeframe candles. If candle closes red, or bearish, the strategy goes short. If candle closes green, or bullish, the strategy goes long. Brackets are 150tick TP and 200tick SL.
Three Bar Reversal & Pattern Signals with TP, SL This indicator identifies a "Three Bar Reversal" pattern and provides buy/sell signals along with stop-loss (SL), take-profit (TP), and entry prices based on mean reversion. Here’s a breakdown of how it works:
Inputs:
Text Size: The user can choose the size of the label text displayed on the chart, with options like tiny, small, normal, large, and huge.
Buy/Sell Label Colors: Users can set the colors for the buy and sell labels.
Buy/Sell Text Colors: The user can set the text color for the buy and sell labels.
Identifying Reversal Patterns:
Bullish Reversal: The indicator looks for a bullish reversal pattern where:
The first bar (index 2) is bullish (close > open).
The second bar (index 1) has a low price lower than the first bar.
The close of the current bar is higher than the high of the second bar.
Bearish Reversal: A bearish reversal is identified when:
The first bar (index 2) is bearish (close < open).
The second bar (index 1) has a high price higher than the first bar.
The close of the current bar is lower than the low of the second bar.
Mean Reversion (SMA) Calculation:
The script calculates a 20-period simple moving average (SMA) of the close prices (mean_price), which is used as a reference for setting stop-loss and take-profit levels.
Risk to Reward Ratio (1:1.5):
The risk-to-reward ratio is set at 1.5:1. This means the take-profit target is 1.5 times the distance from the entry price to the stop-loss.
Stop-Loss and Take-Profit Calculation:
Buy Signal:
Stop-Loss is placed 1% below the mean price.
Take-Profit is calculated based on the risk-to-reward ratio from the entry price.
Sell Signal:
Stop-Loss is placed 1% above the mean price.
Take-Profit is calculated similarly based on the risk-to-reward ratio.
Creating Labels:
When a bullish or bearish reversal pattern is detected:
A label is drawn on the chart showing the entry price, TP, and SL for the trade.
Alerts are triggered when a buy or sell signal is detected, displaying the relevant entry, TP, and SL levels.
Line Drawing:
A blue line is drawn at the low price of the reversal pattern to visually represent the reversal point.
In summary, the indicator combines a reversal pattern detection (Three Bar Reversal) with mean reversion, setting stop-loss and take-profit levels based on the 20-period moving average and a defined risk-to-reward ratio. Labels with the trade details (entry, TP, SL) are plotted, and alerts are triggered whenever a reversal pattern is identified.
Optimized Smart Money Concept for BTCUSDThis indicator is designed to detect breakouts based on a simplified version of the Smart Money Concept (SMC) for BTCUSD and uses risk/reward calculations for trade management. Here's how it works:
1. Input Parameters:
Risk/Reward Ratio: This determines the target profit relative to the stop loss. For BTCUSD, the default is set to a 2:1 ratio (i.e., for every dollar risked, the target profit is two dollars).
Lookback Period for Swing High/Low: This is the number of bars used to look back to identify the highest high and lowest low, which help in determining the stop-loss levels. A larger lookback is used to account for BTCUSD's volatility.
2. Breakout Pattern:
Bullish Breakout Condition:
The first candle (index 2) is bearish (close < open).
The second candle (index 1) is bullish (close > open).
The third candle is also bullish (close > open), and it closes higher than the second candle.
Bearish Breakout Condition:
The first candle (index 2) is bullish (close > open).
The second candle (index 1) is bearish (close < open).
The third candle is also bearish (close < open), and it closes lower than the second candle.
3. Swing Points for Stop Loss:
Lowest Low (Long Stop Loss): The lowest low over the defined lookback period.
Highest High (Short Stop Loss): The highest high over the defined lookback period.
4. Stop Loss and Take Profit Calculation:
For Long (Buy) Trades:
Stop Loss is placed at the lowest low over the lookback period.
Take Profit is calculated by adding the difference between the entry price (current close) and the stop loss, multiplied by the risk/reward ratio (e.g., 2:1).
For Short (Sell) Trades:
Stop Loss is placed at the highest high over the lookback period.
Take Profit is calculated by subtracting the difference between the entry price and the stop loss, multiplied by the risk/reward ratio.
5. Conditions for Buy and Sell:
A buy condition is triggered when the bullish breakout pattern occurs.
A sell condition is triggered when the bearish breakout pattern occurs.
6. Plotting Buy/Sell Signals:
When a long (buy) condition is met, a label is placed below the candlestick with the entry price, take-profit (TP), and stop-loss (SL) levels. A line is drawn connecting the label to the low of the candlestick.
When a short (sell) condition is met, a label is placed above the candlestick with the entry price, TP, and SL levels. A line is drawn connecting the label to the high of the candlestick.
7. Breakout Debugging:
The indicator uses plotshape() to visually mark where bullish and bearish breakout patterns are detected on the chart with green (bullish) and red (bearish) shapes, respectively.
In Summary:
The indicator looks for specific bullish and bearish breakout patterns, calculates the stop-loss and take-profit levels based on swing points and a risk/reward ratio, and then plots buy/sell labels on the chart with the corresponding entry, TP, and SL values. It also provides a visual marker for each breakout pattern detected for debugging or confirmation purposes.
4H Swing Trade EMA Trend StrategyThe XAUUSD EMA Trend Strategy indicator is designed to identify market trends and provide buy and sell signals for XAUUSD (gold) based on Exponential Moving Averages (EMAs) and candlestick analysis. Here's how it works, broken down:
1. EMA Setup
Exponential Moving Averages (EMAs) are used to help determine the market trend.
Blue EMA: Calculated using the high prices with a length of 20 periods (emaHigh).
Yellow EMA: Calculated using the low prices with a length of 20 periods (emaLow).
Both EMAs are plotted on the chart in blue (for the high-based EMA) and yellow (for the low-based EMA).
2. Trend Detection
The trend is determined based on the position of the current price relative to the EMAs:
Uptrend: When the closing price is above the blue EMA (high-based EMA).
Downtrend: When the closing price is below the yellow EMA (low-based EMA).
Sideways Trend: If neither the uptrend nor downtrend conditions are met, the market is considered sideways.
3. Buy and Sell Signal Conditions
Buy Signal:
The market is in an uptrend (price is above the blue EMA).
The close price is above the blue EMA, and the candlestick body (close > open) closes above the blue EMA.
Sell Signal:
The market is in a downtrend (price is below the yellow EMA).
The close price is below the yellow EMA, and the candlestick body (close < open) closes below the yellow EMA.
No Signal in Sideways Market: The strategy avoids generating buy or sell signals when the market is in a sideways trend.
4. Stop Loss (SL) and Take Profit (TP) Calculation
Risk-to-Reward Ratio: A ratio of 1.5 is used for setting the take profit (TP) and stop loss (SL).
For Buy Signals:
The stop loss (SL) is set at the previous swing low.
The take profit (TP) is calculated as the entry price plus 1.5 times the distance between the entry price and the previous swing low.
For Sell Signals:
The stop loss (SL) is set at the previous swing high.
The take profit (TP) is calculated as the entry price minus 1.5 times the distance between the entry price and the previous swing high.
5. Signal Labels
Buy and Sell Labels:
When a buy or sell signal is triggered, a label is displayed on the chart, either below or above the candlestick:
Buy label appears below the candlestick with the corresponding stop loss (SL) and take profit (TP) values.
Sell label appears above the candlestick with the corresponding stop loss (SL) and take profit (TP) values.
A line is drawn between the candlestick and the label for clarity.
6. Trend Table
A table is displayed in the upper-right corner of the chart showing the current market trend:
Uptrend: When the price is above the blue EMA.
Downtrend: When the price is below the yellow EMA.
Sideways: When neither of the above conditions are met.
7. Shape Plotting
Buy Signal Shape: A green label is plotted below the candlestick for a buy signal.
Sell Signal Shape: A red label is plotted above the candlestick for a sell signal.
Summary of How the Strategy Works:
Trend Identification: The strategy uses two EMAs (one based on the highs, and the other based on the lows) to identify whether the market is in an uptrend, downtrend, or sideways.
Entry Signals: Buy and sell signals are generated based on the price's position relative to the EMAs and the candlestick's closing price.
SL/TP Calculation: A risk-to-reward ratio of 1:1.5 is applied, with SL and TP set based on previous swings.
Trend Table: The strategy displays the current trend in the upper-right corner for easy tracking.
This setup allows you to track and trade trends effectively on XAUUSD with clear signals and a risk management strategy built-in.
The 950 Bar StrategyNQ 9:50 AM Candle Strategy v3 (Trade at 9:55AM) - 1 Contract
Also called the 950 Standard. The 950 Strategy.
This strategy places its trade at 9:55am each day based on the close of the 9:50am candle. Uses 5min timeframe candles. If candle closes red, or bearish, the strategy goes short. If candle closes green, or bullish, the strategy goes long. Brackets are 150tick TP and 200tick SL.
Sideways Scalper Peak and BottomUnderstanding the Indicator
This indicator is designed to identify potential peaks (tops) and bottoms (bottoms) within a market, which can be particularly useful in a sideways or range-bound market where price oscillates between support and resistance levels without a clear trend. Here's how it works:
RSI (Relative Strength Index): Measures the speed and change of price movements to identify overbought (above 70) and oversold (below 30) conditions. In a sideways market, RSI can help signal when the price might be due for a reversal within its range.
Moving Averages (MAs): The Fast MA and Slow MA provide a sense of the short-term and longer-term average price movements. In a sideways market, these can help confirm if the price is at the upper or lower extremes of its range.
Volume Spike: Looks for significant increases in trading volume, which might indicate a stronger move or a potential reversal point when combined with other conditions.
Divergence: RSI divergence occurs when the price makes a new high or low, but the RSI does not, suggesting momentum is weakening, which can be a precursor to a reversal.
How to Use in a Sideways Market
Identify the Range: First, visually identify the upper resistance and lower support levels of the sideways market on your chart. This indicator can help you spot these levels more precisely by signaling potential peaks and bottoms.
Peak Signal :
When to Look: When the price approaches the upper part of the range.
Conditions: The indicator will give a 'Peak' signal when:
RSI is over 70, indicating overbought conditions.
There's bearish divergence (price makes a higher high, but RSI doesn't).
Volume spikes, suggesting strong selling interest.
Price is above both Fast MA and Slow MA, indicating it's at a potentially high point in the range.
Action: This signal suggests that the price might be at or near the top of its range and could reverse downwards. A trader might consider selling or shorting here, expecting the price to move towards the lower part of the range.
Bottom Signal:
When to Look: When the price approaches the lower part of the range.
Conditions: The indicator will give a 'Bottom' signal when:
RSI is below 30, indicating oversold conditions.
There's bullish divergence (price makes a lower low, but RSI doesn't).
Volume spikes, suggesting strong buying interest.
Price is below both Fast MA and Slow MA, indicating it's at a potentially low point in the range.
Action: This signal suggests that the price might be at or near the bottom of its range and could reverse upwards. A trader might consider buying here, expecting the price to move towards the upper part of the range.
Confirmation: In a sideways market, false signals can occur due to the lack of a strong trend. Always look for confirmation:
Volume Confirmation: A significant volume spike can add confidence to the signal.
Price Action: Look for price action like candlestick patterns (e.g., doji, engulfing patterns) that confirm the reversal.
Time Frame: Consider using this indicator on multiple time frames. A signal on a shorter time frame (like 15m or 1h) might be confirmed by similar conditions on a longer time frame (4h or daily).
Risk Management: Since this is designed for scalping in a sideways market:
Set Tight Stop-Losses: Due to the quick nature of reversals in range-bound markets, place stop-losses close to your entry to minimize loss.
Take Profit Levels: Set profit targets near the opposite end of the range or use a trailing stop to capture as much of the move as possible before it reverses again.
Practice: Before trading with real money, practice with this indicator on historical data or in a paper trading environment to understand how it behaves in different sideways market scenarios.
Key Points for New Traders
Patience: Wait for all conditions to align before taking a trade. Sideways markets require patience as the price might hover around these levels for a while.
Not All Signals Are Equal: Sometimes, even with all conditions met, the market might not reverse immediately. Look for additional context or confirmation.
Continuous Learning: Understand that this indicator, like any tool, isn't foolproof. Learn from each trade, whether it's a win or a loss, and adjust your strategy accordingly.
By following these guidelines
BODY WICK OF HIGHER TIME CANDLEDenotes the level of open and close of the body of the candle formed on a higher timeframe between the red and green dots with the line as the body, above the green is the upper shadow, and below the red is the lower shadow.
Effort Bars & Green Small and Blue Med Bars [EVERYDAY TRADER]Написал небольшой скрипт, который определяет аномально большие бары со всплеском объема (белый цвет), а так же в диапазоне этого бара рассчитывает размер баров возобновления.
Мне это помогает принимать решение о входе в сделку, с учетом риска и избавляет постоянно применять линейку для измерения баров.
Маленькие бары для меня являются сигналом, что сила атакующего затухает и можно искать точку входа против слабого.
Telegram ~ EverydayTrader~
t.me/everycryptotrader
Мой Youtube - www.youtube.com
5D-SMA+4hMACDSession VWAP:
Uses the change in time("D") to detect a new day and resets the cumulative price‐volume and volume totals. The VWAP is then the cumulative price × volume divided by the cumulative volume.
2‑Day VWAP:
Maintains separate accumulators for the current day and the previous day. On a new day, the previous day’s totals are saved and then added to the current day’s running totals to compute a VWAP spanning the two most recent days.
Weekly VWAP:
Uses ta.change(time("W")) to reset the weekly accumulators at the start of a new week.
Anchored VWAP:
Begins accumulation when the current bar’s time exceeds the user‐defined anchor time. Once started, it continues to accumulate indefinitely.
Feel free to modify the inputs and styling to suit your preferences.
CRT with Dual Models WIP WIPorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.
EMA with Dynamic Support and Resistance Signals//@version=5
indicator("EMA with Dynamic Support and Resistance Signals", overlay=true)
// Parameters
emaLength = 10
lookbackPeriod = 20
// Calculations
ema = ta.ema(close, emaLength)
highestHigh = ta.highest(high, lookbackPeriod)
lowestLow = ta.lowest(low, lookbackPeriod)
// Conditions
buyCondition = close > ema and close > highestHigh
sellCondition = close < ema and close < lowestLow
// Plot EMA
plot(ema, title="10-Period EMA", color=color.blue)
// Plot Support and Resistance Levels
plot(highestHigh , title="Resistance Level", color=color.red, style=plot.style_linebr)
plot(lowestLow , title="Support Level", color=color.green, style=plot.style_linebr)
// Plot Buy and Sell Signals
plotshape(series=buyCondition, location=location.belowbar, color=color.green, style=shape.labelup, text="BUY")
plotshape(series=sellCondition, location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL")
RSI Deviation & Correlation by DINVESTORQOverview:
This indicator analyzes the Relative Strength Index (RSI) over 252 days, calculating its mean (average) and standard deviation. Based on this, it sets an upper and lower threshold to determine overbought and oversold conditions.
Additionally, it calculates the correlation between RSI and price using a moving average, helping traders understand if RSI is moving in sync with price trends.
Key Features:
✅ RSI Deviation Bands
Upper Limit = RSI Avg + (2 × SD × 2.5)
Lower Limit = RSI Avg - (2 × SD × 2.5)
✅ Trading Signals:
Sell Signal: RSI crosses above the upper limit
Buy Signal: RSI drops below the lower limit
✅ RSI-Price Correlation Moving Average
Uses 50-day correlation between RSI and price
Helps confirm trend strength
✅ Customizable Parameters
RSI Length (Default: 252 Days)
Correlation Period (Default: 50 Days)
✅ Chart Visuals:
Plots RSI (blue), Upper Band (red), Lower Band (green)
Plots RSI-Price Correlation (orange)
Buy/Sell signals appear on chart
TradingView Indicator: RSI Deviation & Correlation Indicator
Overview:
This indicator analyzes the Relative Strength Index (RSI) over 252 days, calculating its mean (average) and standard deviation. Based on this, it sets an upper and lower threshold to determine overbought and oversold conditions.
Additionally, it calculates the correlation between RSI and price using a moving average, helping traders understand if RSI is moving in sync with price trends.
Key Features:
✅ RSI Deviation Bands
Upper Limit = RSI Avg + (2 × SD × 2.5)
Lower Limit = RSI Avg - (2 × SD × 2.5)
✅ Trading Signals:
Sell Signal: RSI crosses above the upper limit
Buy Signal: RSI drops below the lower limit
✅ RSI-Price Correlation Moving Average
Uses 50-day correlation between RSI and price
Helps confirm trend strength
✅ Customizable Parameters
RSI Length (Default: 252 Days)
Correlation Period (Default: 50 Days)
✅ Chart Visuals:
Plots RSI (blue), Upper Band (red), Lower Band (green)
Plots RSI-Price Correlation (orange)
Buy/Sell signals appear on chart
Pine Script for TradingView:
pinescript
Copy
Edit
//version=5
indicator("RSI Deviation & Correlation Indicator", overlay=false)
// User Inputs
length = input.int(252, title="RSI Period")
corr_length = input.int(50, title="Correlation Period")
// RSI Calculation
rsi_value = ta.rsi(close, length)
// Calculate Mean and Standard Deviation of RSI
rsi_avg = ta.sma(rsi_value, length)
rsi_sd = ta.stdev(rsi_value, length) * 2.5
// Define Upper and Lower Limits
upper_limit = rsi_avg + (rsi_sd * 2)
lower_limit = rsi_avg - (rsi_sd * 2)
// Buy and Sell Signals
buy_signal = rsi_value < lower_limit
sell_signal = rsi_value > upper_limit
// Correlation Moving Average between RSI and Price
rsi_price_correlation = ta.correlation(rsi_value, close, corr_length)
// Plot RSI with Bands
plot(rsi_value, title="RSI", color=color.blue)
plot(upper_limit, title="Upper Limit", color=color.red, linewidth=2)
plot(lower_limit, title="Lower Limit", color=color.green, linewidth=2)
plot(rsi_avg, title="Average RSI", color=color.gray, linewidth=2)
// Display Buy/Sell Signals on Chart
plotshape(buy_signal, location=location.bottom, color=color.green, style=shape.labelup, title="BUY Signal", size=size.small)
plotshape(sell_signal, location=location.top, color=color.red, style=shape.labeldown, title="SELL Signal", size=size.small)
// Plot Correlation Moving Average
plot(rsi_price_correlation, title="RSI-Price Correlation", color=color.orange, linewidth=2)
// Alerts for Buy/Sell
alertcondition(buy_signal, title="BUY Alert", message="RSI is below the Lower Limit - BUY Signal")
alertcondition(sell_signal, title="SELL Alert", message="RSI is above the Upper Limit - SELL Signal")
How to Use in TradingView:
1️⃣ Open TradingView and go to the Pine Editor
2️⃣ Paste the above Pine Script
3️⃣ Click Add to Chart
4️⃣ Adjust RSI Length and Correlation Period if needed
5️⃣ Buy/Sell alerts will trigger when conditions match
Trading Strategy:
📉 Sell (Short Entry) when RSI crosses above the upper limit
📈 Buy (Long Entry) when RSI drops below the lower limit
📊 Confirm trends with RSI-Price Correlation:
+1 means RSI and price are moving together
-1 means RSI and price are diverging
Final Notes:
Works best on higher timeframes (Daily, Weekly)
Helps filter overbought/oversold false signals
Can be combined with other indicators (MACD, Bollinger Bands, etc.)
Bollinger Band Breakout Signals **Bollinger Band Breakout Signals – Buy & Sell Alerts**
🚀 **Overview:**
This **Pine Script** generates **buy and sell signals** based on Bollinger Band breakouts. When the price crosses **below the lower Bollinger Band**, it triggers a **BUY signal** 📈. When the price crosses **above the upper Bollinger Band**, it triggers a **SELL signal** 📉.
🔔 **Key Features:**
✅ **Clear Buy & Sell Signals** – Visual markers on the chart for easy trading decisions.
✅ **Automatic Alerts** – Get notified instantly when breakouts occur.
✅ **Customizable Bollinger Bands** – Uses a 20-period moving average with 2 standard deviations (default settings).
✅ **Works on Any Market** – Use it on **stocks, crypto, forex, or commodities**.
📊 **How It Works:**
- **BUY Alert**: When price crosses **below** the lower Bollinger Band.
- **SELL Alert**: When price crosses **above** the upper Bollinger Band.
- Green **BUY arrows** appear below bars for buy signals.
- Red **SELL arrows** appear above bars for sell signals.
⚙️ **How to Set Up Alerts:**
1️⃣ Add the script to your TradingView chart.
2️⃣ Click the **Alerts (🔔) button** and select `"Bollinger Band Breakout Signals"`.
3️⃣ Choose **"Any alert function call"** to enable alerts.
4️⃣ Select your **preferred notification method** (popup, email, SMS, or webhook).
📢 **Perfect for traders looking to capitalize on momentum breakouts with precision!** 💰🔥
#TradingView #BollingerBands #BreakoutTrading #BuySellSignals #Crypto #Forex #Stocks
