D-BoT Alpha ReversalsHello traders, today I'm going to share with you a strategy that I use very frequently. I wanted to share this strategy that I use in my manual trades by translating it into code. I'm sharing it with you with completely open source code.
RSI of ROC: The indicator initially calculates RSI (Relative Strength Index) on ROC (Rate of Change). This is a method that tracks the rate of price change (ROC) over a certain period and applies it to the RSI calculation.
Adaptive RSI: The code then calculates the RSI for all periods between the minimum and maximum RSI lengths. It takes the average of these calculations and names it as avg_rsi66. In addition, it checks whether each RSI value exceeds the determined overbought and oversold limits.
Signal Triggers: If both RSI of ROC and avg_rsi66 are above or below the specified overbought or oversold levels and the difference between these two values is less than the specified threshold value (Extremities Sensitivity), a signal is triggered. In addition, the color of the bar is also checked: An overbought (sell) signal is triggered for a red bar and an oversold (buy) signal is triggered for a green bar.
Signal Visualization: Signals are shown on the chart at appropriate places with "Sell" or "Buy" shapes. Also, each of these conditions is defined as an alert condition.
The general purpose of this indicator is to determine the turning points of the market. Overbought and oversold signals are based on the idea that the price may turn from these areas. That is, a "Sell" signal indicates a turning point where the price may start to fall, while a "Buy" signal indicates a turning point where the price may start to rise.
These types of indicators usually have some weak points:
False Signals: Like any kind of technical analysis indicator, this indicator can also give false signals. That is, you may get a "Buy" or "Sell" signal but the price may not move in the expected direction.
Market Conditions: This indicator may perform better under certain market conditions. For example, a trend-following indicator usually works well in trending markets, but can be misleading in range-bound markets. This indicator too can perform better or worse in a particular market situation.
Parameter Selection: The choice of the parameters of the indicator (ROC and RSI lengths, overbought/oversold levels, etc.) can significantly affect the quality of the indicator signals. Parameters should be optimized for various assets and time frames.
In conclusion, it would be better to use this indicator not as a standalone trading system, but in conjunction with other technical analysis tools or fundamental analysis. Also, it is always beneficial to test a new trading strategy on past data or on a demo account before trading with real money."
Stay tuned for more of my original strategies :)
Happy trading...
M-oscillator
Stochastic [Tcs] | OSCThis script is an implementation of the stochastic relative strength index (STOCH RSI) indicator
The script takes inputs from the length of the RSI, the source of the data, and parameters for the smoothing of the STOCH RSI.
The STOCH RSI is calculated by first calculating the RSI of the chosen source data, then smoothing it with an exponential moving average. The stochastic oscillator is then applied to the smoothed RSI, and smoothed again to create the final STOCH RSI.
The script also calculates a trigger value using a combination of the STOCH RSI and a volume-weighted moving average. It then plots the STOCH RSI, trigger value, and overbought/oversold levels, and fills the background of the plot based on the relationship between the trigger and STOCH RSI values.
Finally, the script plots buy and sell signals based on crossovers and crossunders of the STOCH RSI and its smoothed version.
The cross signal is stronger than the dots, in both direction and usually the best entries happen when two crosses signal on the level 0(long) or 100(short) appear after a dot signal.
Please note that this indicator is for educational purposes only and should not be used for trading without further testing and analysis.
Volume-Weighted RSI with Adaptive SmoothingThis indicator is designed to provide traders with insights into the relative strength of a security by incorporating volume-weighted elements, effectively combining the concepts of Relative Strength Index (RSI) and volume-weighted averages to generate meaningful trading signals.
The indicator calculates the traditional RSI, which measures the speed and change of price movements, as well as the volume-weighted RSI, which considers the influence of trading volume on price action. It then applies adaptive smoothing to the volume-weighted RSI, allowing for customization of the smoothing process. The resulting smoothed volume-weighted RSI is plotted alongside the original RSI, providing traders with a comprehensive view of the price strength dynamics.
The line coloration in this indicator is designed to provide visual cues about the relationship between the RSI and the volume-weighted RSI. When the RSI line is above or equal to the volume-weighted RSI line, it suggests a potentially bullish condition with positive market momentum. In such cases, the line is colored lime. Conversely, when the RSI line (fuchsia) is below the volume-weighted RSI line, it indicates a potentially bearish condition with negative market momentum. The line color is set to fuchsia. By observing the line color, traders can quickly assess the relative strength between the RSI and the volume-weighted RSI, aiding their decision-making process.
The bar color and background color further enhance the visual interpretation of the indicator. The bar color reflects the RSI's relationship with the volume-weighted RSI and the predefined thresholds. If the RSI line is above both the volume-weighted RSI line and the overbought threshold (70), the bar color is set to lime, indicating a potentially overbought condition. Conversely, if the RSI line is below both the volume-weighted RSI line and the oversold threshold (30), the bar color is set to fuchsia, suggesting a potentially oversold condition. When the RSI line is between these two thresholds, the bar color is set to yellow, indicating a neutral or intermediate state. The background color, displayed with a semi-transparent shade, provides additional context by reflecting the prevailing market conditions. It turns lime if the volume-weighted RSI is above the overbought threshold, fuchsia if below the oversold threshold, and yellow if it falls between these two thresholds. This coloration scheme aids traders in quickly assessing market conditions and potential trading opportunities.
Calculations:
-- RSI Calculation : The traditional RSI is calculated based on the price movements of the asset. The up and down movements are determined, and exponential moving averages are used to smooth the values. The RSI value ranges from 0 to 100, with levels above 70 indicating overbought conditions and levels below 30 indicating oversold conditions.
-- Volume-Weighted RSI Calculation : The volume-weighted RSI incorporates the trading volume of the asset into the calculations. The closing price is multiplied by the corresponding volume, and the average is taken over a specific length. The up and down movements are smoothed using exponential moving averages to generate the volume-weighted RSI value.
-- Adaptive Smoothing : The indicator offers an adaptive smoothing option, allowing traders to customize the smoothing process of the volume-weighted RSI. By adjusting the smoothing length, traders can fine-tune the responsiveness of the indicator to changes in market conditions. Smoothing helps reduce noise and enhances the clarity of the signals.
Interpretation:
The indicator provides two main components for interpretation:
-- RSI : The traditional RSI reflects the price momentum and potential overbought or oversold conditions. Traders can look for RSI values above 70 as potential overbought signals, suggesting a possible price reversal or correction. Conversely, RSI values below 30 indicate potential oversold signals, indicating a potential price rebound or rally.
-- Volume-Weighted RSI : The volume-weighted RSI incorporates trading volume, which provides insights into the strength of price movements. When the volume-weighted RSI is above the traditional RSI, it suggests that the buying pressure supported by higher volume is stronger, potentially indicating a more reliable trend. Conversely, when the volume-weighted RSI is below the traditional RSI, it suggests that the selling pressure supported by higher volume is stronger, potentially indicating a more significant price reversal.
Potential Strategies:
-- Overbought and Oversold Signals : Traders can utilize the RSI component of the indicator to identify overbought and oversold conditions. A potential strategy is to consider taking short positions when the RSI is above 70 and long positions when the RSI is below 30. These levels can act as dynamic support and resistance areas, indicating possible price reversals.
-- Confirmation with Volume : Traders can use the volume-weighted RSI as a confirmation tool to validate price movements. When the volume-weighted RSI is above the traditional RSI, it may provide additional confirmation for long positions, suggesting stronger buying pressure. Conversely, when the volume-weighted RSI is below the traditional RSI, it may provide confirmation for short positions, indicating stronger selling pressure.
-- Trend Reversal Strategy : Watch for the volume-weighted RSI to reach extreme levels above 70 (overbought) or below 30 (oversold). Look for a reversal signal where the RSI line (green or fuchsia) crosses below or above the volume-weighted RSI line. Enter a trade when the reversal signal occurs, and the RSI line changes color. Exit the trade when the RSI line crosses back in the opposite direction or reaches the opposite extreme level.
-- Divergence Strategy : Compare the direction of the RSI line (green or fuchsia) with the volume-weighted RSI line. A bullish divergence occurs when the RSI line makes higher lows while the volume-weighted RSI line makes lower lows. A bearish divergence occurs when the RSI line makes lower highs while the volume-weighted RSI line makes higher highs. Once a divergence is identified, wait for the RSI line to cross above or below the volume-weighted RSI line as confirmation of a potential trend reversal. Consider using additional indicators or price action analysis to time the entry more accurately. Use stop-loss orders and profit targets to manage risk and secure profits.
-- Trend Continuation Strategy : Assess the overall trend direction by observing the RSI line's position relative to the volume-weighted RSI line. When the RSI line consistently stays above the volume-weighted RSI line, it indicates a bullish trend, while the opposite suggests a bearish trend. Look for temporary pullbacks within the ongoing trend where the RSI line (green or fuchsia) touches or crosses the volume-weighted RSI line. Enter trades in the direction of the dominant trend when the RSI line crosses back in the trend direction. Exit the trade when the RSI line starts to deviate significantly from the volume-weighted RSI line or when the trend shows signs of weakening through other technical or fundamental factors.
Limitations:
-- False Signals : Like any indicator, the "Volume-Weighted RSI with Adaptive Smoothing" may produce false signals, especially during periods of low liquidity or choppy market conditions. Traders should exercise caution and consider using additional confirmation indicators or tools to validate the signals generated by this indicator.
-- Lagging Nature : The indicator relies on historical price data and volume to calculate the RSI and volume-weighted RSI. As a result, the signals provided may have a certain degree of lag compared to real-time price action. Traders should be aware of this inherent lag and consider combining the indicator with other timely indicators to enhance the accuracy of their trading decisions.
-- Parameter Sensitivity : The indicator's effectiveness can be influenced by the choice of parameters, such as the length of the RSI, smoothing length, and adaptive smoothing option. Different market conditions may require adjustments to these parameters to optimize performance. Traders are encouraged to conduct thorough testing and analysis to determine the most suitable parameter values for their specific trading strategies and preferences.
-- Market Conditions : The indicator's performance may vary depending on the prevailing market conditions. It is essential to understand that no indicator can guarantee accurate predictions or consistently profitable trades. Traders should consider the broader market context, fundamental factors, and other technical indicators to complement the insights provided by the "Volume-Weighted RSI with Adaptive Smoothing" indicator.
-- Subjectivity : Interpretation of the indicator's signals involves subjective judgment. Traders may have varying interpretations of overbought and oversold levels, as well as the significance of the volume-weighted RSI in relation to the traditional RSI. It is crucial to combine the indicator with personal analysis and trading experience to make informed trading decisions.
Remember, no single indicator can provide foolproof trading signals. The "Volume-Weighted RSI with Adaptive Smoothing" indicator serves as a valuable tool for analyzing price strength and volume dynamics. It can assist traders in identifying potential entry and exit points, validating trends, and managing risk. However, it should be used as part of a comprehensive trading strategy that considers multiple factors and indicators to increase the likelihood of successful trades.
Fierytrading: Volatility DepthDear Tradingview community,
I'd like to share one of my staple indicators with you. The volatility depth indicator calculates the volatility over a 7-day period and plots it on your chart.
This indicator only works for the DAILY chart on BTC/USD.
Colors
I've color coded the indicator as follows:
- Red: Extreme Volatility
- Orange: High Volatility
- Yellow: Normal Volatility
- Green: Low Volatility
Red: extreme changes in price. Often during local tops and bottoms.
Orange: higher than average moves in price. Often before or after a "red" period. Often seen in the middle of bear or bull markets.
Yellow: normal price action. Often seen during early stage bull-markets and late stage bear-markets.
Green: very low price movement. Often during times of indecision. Once this indicator becomes green, you can expect a big move in either direction. Low volatility is always followed by high volatility.
In a long-term uptrend, a green period often signals a bullish break out. In a long-term downtrend it often signals a bearish break out.
How to use
Save the indicator and apply it to your chart. You can change the length in the settings, but it's optimized for 7 days, so no need to change it.
I've build in alerts for all 4 different volatility periods. In most cases, the low volatility alert is enough.
Good luck!
Average Variation Bands OscillatorSimilar to how a donchian% of channel helps to visualize trend and volatility, this tool helps identify those same characteristics, if the oscillator is generally above the 50 mark, it is considered to be trending upwards, and the reverse if it is generally bellow 50.
Intraday Intensity ModesIntraday Intensity Index was created by David Bostian and its use was later featured by John Bollinger in his book "Bollinger on Bollinger Bands" . It is categorically a volume indicator and considered to be a useful tool for analyzing supply and demand dynamics in the market. By measuring the level of buying and selling pressure within a given trading session it attempts to provide insights into the strength of market participants' interest and their aggressiveness in executing trades throughout the day. It can be used in conjunction with Bollinger Bands® or other envelope type indicators as a complimentary indicator to aid in trying to identify potential turning points or trends.
Intraday intensity is calculated based upon the relationship between the price change and the volume of shares traded during each daily interval. It aims to capture the level of buying or selling activity relative to the overall volume. A high intraday intensity value suggests a higher level of buying or selling pressure, indicating a more active and potentially volatile market. Conversely, a low intraday intensity value indicates less pronounced trading activity and a potentially quieter market. Overall, intraday intensity provides a concise description of the intensity of trading activity during a particular trading session, giving traders an additional perspective on market dynamics. Note that because the calculation uses volume this indicator will only work on symbols where volume is available.
While there are pre-existing versions within community scripts, none were found to have applied the calculations necessary for the various modes that are presented within this version, which are believed to be operating in the manner originally intended when first described by Bostian and again later by Bollinger. When operating in default modes on daily or lower chart timeframes the logic used within this script tracks the intraday high, low, close and volume for the day with each progressing intraday bar.
The BB indicator was included on the top main chart to help illustrate example usage as described below. The Intraday Intensity Modes indicator is pictured operating in three different modes beneath the main chart:
• The top pane beneath the main chart shows the indicator operating as a normalized 21 day II% oscillator. A potential use while in this mode would be to look for positive values as potential confirmation of strength when price tags the upper or lower Bollinger bands, and to look for negative values as potential confirmation of weakness when price tags the upper or lower Bollinger bands.
• The middle pane shows the indicator operating as an "open ended" cumulative sum of II. A potential use while in this mode would be to look for convergence or divergence of trend when price is making new highs or lows, or while price is walking the upper or lower Bollinger bands.
• The bottom pane shows the indicator operating in standard III mode, which provides independent values per session.
Indicator Settings: Inputs tab:
Osc Length : Set to 1 disables oscillation, values greater than 1 enables oscillation for II% (Intraday Intensity percent) mode.
Tootip : Hover mouse over (i) to show recommended example Settings for various modes.
Cumulative : When enabled values are cumulatively summed for the entire chart and indicator operates in II mode.
Normalized : When enabled a rolling window of Osc Length values are summed and normalized to the rolling window's volume.
Intrabar : When enabled price range and volume are evaluated for intensity per bar instead of per day which is a departure from the original
concept. Whenever this setting is enabled the indicator should be regarded as operating in an experimental mode.
Colors For Up Down : Sets the plot colors used, may be overridden in Settings:Style tab.
Styles / Width : Sets the plot style and width used, may be overridden in Settings:Style tab.
This indicator is designed to work with any chart timeframe, with the understanding that when used on timeframes higher than daily the indicator becomes "IntraPeriod" intensity, for example on weekly bars it would be "IntraWeek" intensity. On Daily or lower timeframes the indicator operates as "IntraDay" intensity and is being updated on each bar as each day progresses. If the experimental setting Intrabar is enabled then the indicator operates as "IntraBar" intensity and is no longer constrained to daily or higher evaluations, for example with Intrabar enabled on a 4H timeframe the indicator would operate as "Intra4H" intensity.
NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!
Scalping Strategy (5min)This indicator is designed for scalping strategies on a 5-minute timeframe. It generates signals based on two RSI crossovers and incorporates moving averages to identify trends. Additionally, a Bollinger Band is included to eliminate the need for an additional Bollinger Band on the chart.
Please note that this indicator does not guarantee 100% accurate signals and may produce false signals. It is recommended to use this indicator in conjunction with other indicators such as Stochastic, MACD, SuperTrend, or any other suitable indicators to enhance the accuracy of trading decisions.
1) Signal Generation: The indicator generates buy and sell signals based on two RSI crossovers. A buy signal is generated when the fast RSI crosses above the slow RSI, indicating potential bullish momentum. Conversely, a sell signal is generated when the fast RSI crosses below the slow RSI, suggesting potential bearish momentum.
2) To adjust the indicator to your specific chart and trading preferences, you have the flexibility to modify the RSI and moving average (MA) values. By changing the RSI values (slow RSI length and fast RSI length), you can fine-tune the sensitivity of the RSI crossovers to suit different timeframes and market conditions. Similarly, adjusting the MA values (slow MA period and fast MA period) allows you to adapt the indicator to the desired trend identification and short-term trend confirmation.
3) Pay attention to trades that are confirmed by the short-term moving average (MA) aligning with the desired direction. For buy signals, ensure that the short MA is tending upward, indicating a potential uptrend. For sell signals, confirm that the short MA is trending downward, suggesting a potential downtrend.
4) Moving Averages: The indicator uses a 200-period moving average (MA) to identify the overall trend and a short-term MA for additional confirmation.
5) Bollinger Band: The included Bollinger Band is not directly used in the indicator's calculations. However, it is provided for convenience so that users don't need to add another Bollinger Band to their chart separately.
6) Exercise caution when the short MA is below the 200-period MA but showing signs of attempting an upward move. These situations may indicate a potential reversal or consolidation, and it is advisable to avoid taking trades solely based on the 200-period MA crossover in such cases.
Remember that these guidelines are intended to provide additional insights and should be used in combination with your trading judgment and analysis.
Normalized Elastic Volume Oscillator (MTF)The Multi-Timeframe Normalized Elastic Volume Oscillator combines volume analysis with multiple timeframe analysis. It provides traders with valuable insights into volume dynamics across different timeframes, helping to identify trends, potential reversals, and overbought/oversold conditions.
When using the Multi-Timeframe Normalized Elastic Volume Oscillator, consider the following guidelines:
Understanding Input Parameters : The indicator offers customizable input parameters to suit your trading preferences. You can adjust the EMA length (emaLength), scaling factor (scalingFactor), volume weighting option (volumeWeighting), and select a higher timeframe for analysis (higherTF). Experiment with these parameters to optimize the indicator for your trading strategy.
Multiple Timeframe Analysis : The Multi-Timeframe Normalized Elastic Volume Oscillator allows you to analyze volume dynamics on both the current timeframe and a higher timeframe. By comparing volume behavior across different timeframes, you gain a broader perspective on market trends and the strength of volume deviations. The higher timeframe analysis provides additional confirmation and helps identify more significant market shifts.
Normalized Values : The indicator normalizes the volume deviations on both timeframes to a consistent scale between -0.25 and 0.75. This normalization makes it easier to compare and interpret the oscillator's readings across different assets and timeframes. Positive values indicate bullish volume behavior, while negative values suggest bearish volume behavior.
Interpreting the Indicator : Pay attention to the position of the Multi-Timeframe Normalized Elastic Volume Oscillator lines relative to the zero line on both timeframes. Positive values on either timeframe indicate a bullish bias, while negative values suggest a bearish bias. The distance of the oscillator from the zero line reflects the strength of the volume deviation. Extreme readings, both positive and negative, may indicate overbought or oversold conditions, potentially signaling a trend reversal or exhaustion.
Combining with Other Indicators : For more robust trading decisions, consider combining the Multi-Timeframe Normalized Elastic Volume Oscillator with other technical analysis tools. This could include trend indicators, support/resistance levels, or candlestick patterns. By incorporating multiple indicators, you gain additional confirmation and increase the reliability of your trading signals.
Remember that the Multi-Timeframe Normalized Elastic Volume Oscillator is a valuable tool, but it should not be used in isolation. Consider other factors such as price action, market context, and fundamental analysis to make well-informed trading decisions. Additionally, practice proper risk management and exercise caution when executing trades.
By utilizing the Multi-Timeframe Normalized Elastic Volume Oscillator, you gain a comprehensive view of volume dynamics across different timeframes. This knowledge can help you identify potential market trends, confirm trading signals, and improve the timing of your trades.
Take time to familiarize yourself with the indicator and conduct thorough testing on historical data. This will help you gain confidence in its effectiveness and align it with your trading strategy. With experience and continuous evaluation, you can harness the power of the Multi-Timeframe Normalized Elastic Volume Oscillator to make informed trading decisions.
Buying/Selling Pressure Cycle (PreCy)No lag estimation of the buying/selling pressure for each candle.
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WHY PreCY?
How much bearish pressure is there behind a group of bullish candles ?
Is this bearish pressure increasing?
When might it overcome the bullish pressure?
Those were my questions when I started this indicator. It lead me through the rabbit hole, where I discovered some secrets about the market. So I pushed deeper, and developped it a lot more, in order to understand what is really happening "behind the scene".
There are now 3 ways to read this indicator. It might look complicated at first, but the reward is to be able to anticipate and understand a lot more.
You can show/hide all the plots in the settings. So you can choose the way you prefer to use it.
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FIRST WAY TO READ PreCy : The SIGNAL line
Go in the settings of PreCy, in "DISPLAY", uncheck "The pivot lines of the SIGNAL" and "The CYCLE areas". Make sure "The SIGNAL line" is checked.
The SIGNAL shows an estimation of the buying/selling pressure of each candle, going from 100 (100% bullish candle) to -100 (100% bearish candle). A doji would be shown close to zero.
Formula: Estimated % of buying pressure - Estimated % of selling pressure
It is a very choppy line in general, but its colors help make sense of it.
When this choppiness alternates between the extremes, then there is not much pressure on each candle, and it's very unpredictable.
When the pressure increases, the SIGNAL's amplitude changes. It "compresses", meaning there is some interest in the market. It can compress by alternating above and below zero, or it can stay above zero (bullish), or below zero (bearish) for a while.
When the SIGNAL becomes linear (in opposition to choppy), there is a lot of pressure, and it is directional. The participants agree for a move in a chosen direction.
The trajectory of the SIGNAL can help anticipate when a move is going to happen (directional increase of pressure), or stop (returning to zero) and possibly reverse (crossing zero).
Advanced uses:
The SIGNAL can make more sense on a specific timeframe, that would be aligned with the frequency of the orders at that moment. So it is a good idea to switch between timeframes until it gets less choppy, and more directional.
It is interesting to follow any regular progression of the SIGNAL, as it can reveal the intentions of the market makers to go in a certain direction discretely. There can be almost no volume and no move in the price action, yet the SIGNAL gets linear and moves away from one extreme, slowly crosses the zeroline, and pushes to the other extreme at the same time as the amplitude of the price action increases drastically.
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SECOND WAY TO READ PreCy : The PIVOTS of the SIGNAL line
Go in the settings of PreCy, in "DISPLAY", and uncheck "The CYCLE areas". Make sure "The SIGNAL line" and "The pivot lines of the SIGNAL" are checked.
The PIVOTS help make sense of the apparent chaos of the SIGNAL. They can reveal the overall direction of the choppy moves.
Especially when the 2 PIVOTS lines are parallel and oriented.
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THIRD WAY TO READ PreCy : The CYCLE
Go in the settings of PreCy, in "DISPLAY", and uncheck "The SIGNAL line" and "The pivot lines of the SIGNAL". Make sure "The CYCLE areas" is checked.
The CYCLE is a Moving Average of the SIGNAL in relation to each candle's size.
Formula: 6 periods Moving Average of the SIGNAL * (body of the current candle / 200 periods Moving Average of the candle's bodies)
The result goes from 200 to -200.
The CYCLE shows longer term indications of the pressures of the market.
Analysing the trajectory of the CYCLE can help predict the direction of the price.
When the CYCLE goes above or below the gray low intensity zone, it signals some interest in the move.
When the CYCLE stays above 100 or below -100, it is a sign of strength in the move.
When it stayed out of the gray low intensity zone, then returns inside it, it is a strong signal of a probable change of behavior.
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ALERTS
In the settings, you can pick the alerts you're interested in.
To activate them, right click on the chart (or alt+a), choose "Add alert on Buying/Selling Pressure Cycle (PreCy)" then "Any alert()", then "Create".
Feel free to activate them on different timeframes. The alerts show which timeframe they are from (ex: "TF:15" for the 15 minutes TF).
I have added a lot more conditions to my PreCy, taken from FREMA Trend, for ex. You can do the same with your favorite scripts, to make PreCy more accurate for your style.
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Borrowed scripts:
To estimate the buying and selling pressures, PreCy uses the wicks calculations of "Volume net histogram" by RafaelZioni
To filter the alerts, PreCy uses the calculations of "Amplitude" by Koholintian:
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DO NOT BASE YOUR TRADING DECISIONS ON 1 SINGLE INDICATOR'S SIGNALS.
Always confirm your ideas by other means, like price action and indicators of a different nature.
True Trend Oscillator [wbburgin]The True Trend oscillator identifies trending or ranging markets with a stochastic ATR and RSI. Here are some examples for how it can be used.
Uptrends
If the candlesticks are lime green, this signals an uptrend. On the oscillator, you can identify an uptrend if the bull strength (the green line) is above the bear strength (the red line). The strength of the uptrend and the downtrend can be found by looking at the slope of these lines.
Downtrends
If the candlesticks are red, this signals a downtrend. On the oscillator, notice how the bear strength line is above the bull strength line.
Ranging Markets and Pullbacks
The True Trend oscillator can also be used to identify ranging markets or pullbacks. Let's look at the previous example again:
If you notice that the bull and bear lines are bouncing above the red weak-trend zone (as in the example above), this signals an extended trend. On the contrary, when the bull and bear lines fall into the weak-trend zone, this may indicate a larger pullback or a range to look to enter a trade again, as in this example, where the ranging candles in gray demonstrate temporary pullbacks in a larger bullish trend:
Ranges can also occur before trend reversals, so a range may also indicate a smart time to secure profits.
You can customize the ranging threshold in the settings. It can be set from 0-100 because the indicator is a stochastic.
Hope you all find this indicator useful!
Trend Momentum SynthesizerBy analyzing the MACD (Moving Average Convergence Divergence) and Squeeze Momentum indicators, this indicator helps identify potential bullish, bearish, or undecided market conditions.
The algorithm within considers the positions of the MACD and Squeeze Momentum indicators to determine the overall market sentiment. When the indicators align and indicate a bullish market condition, the indicator's plot color will be either dark green, green, yellow, or lime, indicating a potential bullish trend. Conversely, if the indicators align and indicate a bearish market condition, the plot color will be maroon or red, denoting a potential bearish trend. When the indicators are inconclusive, the plot color will be orange, suggesting an undecided market.
The ADX is an addon component of this indicator, helping to assess the strength of a trend. By analyzing the ADX, the indicator determines whether a trend is strong enough, providing additional confirmation for potential trade signals. The ADX smoothing and DI (Directional Index) length parameters can be customized to suit individual trading preferences.
By combining these indicators, the algorithm provides traders with a comprehensive view of the market, helping them make informed trading decisions. It aims to assist traders in identifying potential market opportunities and aligns with the objective of maximizing trading performance.
How to use the indicator:
Note: I used back-testing for fine tuning do not base your trades on signals from the testing framework.
TASC 2023.06 Stochastic Distance Oscillator█ OVERVIEW
This script implements the stochastic distance oscillator (SDO) , a momentum indicator introduced by Vitali Apirine in an article featured in TASC's June 2023 edition of Traders' Tips . The SDO is a variation of the classic stochastic oscillator and is designed to identify overbought and oversold levels, as well as detect bull and bear trend changes.
█ CONCEPTS
Unlike the classic stochastic oscillator, which compares an asset's price to its past price range, the SDO measures the size of the current distance relative to the maximum-minimum distance range over a set number of periods. The current distance is defined as the distance between the current price and the price n periods ago.
The readings of the SDO can be used to identify the following states of the asset price:
Uptrend state: the oscillator crosses over 50 from a non-uptrend state.
Downtrend state: the oscillator crosses under -50 from a non-downtrend state.
Overbought state: the oscillator is in an uptrend and crosses -50 for the first time.
Oversold state: the oscillator is in a downtrend and crosses 50 for the first time.
Trend continuity: the oscillator crosses 0 in the direction of the current trend.
The script indicates these five conditions using on-chart signals and background coloring.
█ CALCULATIONS
The SDO is calculated as follows:
1. Calculate the distance between the current price and the price n periods ago, as well as the maximum and minimum distances for the selected lookback period. The author recommends using one of two values of n , 14 or 40 bars.
2. Calculate the time series % D that represents the relation between the asset's current distance and its distance range over a loockback period:
% D = (Abs(current distance) − Abs(minimum distance)) / (Abs(maximum distance) − Abs(minimum distance)) * 100
3. Use the calculated % D to obtain the SDO:
If the closing price is above the close n periods ago, SDO = % D
If the closing price is below the close n periods ago, SDO = −% D
If the closing price equals the close n periods ago or the current distance equals the minimum distance, SDO = 0
4. Smooth the SDO using an exponential moving average (EMA). The author recommends using an EMA in the range from 3 to 6 .
Adjustable input parameters include the number of periods n , the lookback period for calculating % D , the smoothing EMA length, and the overbought/oversold threshold level.
Average Trend with Deviation Bands v2TL;DR: An average based trend incl. micro trend spotting and multiple display options.
This script is basically an update of my "Average Trend with Deviation Bands" script. I made the following changes:
Not an overlay anymore - The amount of drawn lines makes the chart pretty messy. That's why I moved it to a pane. If you preferred the overlay you can use my "Average Trend with Deviation Bands" script. *This is also the reason why I publish this script instead of updating the existing one.
I added an EMA to represent the price movement instead of candles
I added a signal (SMA) to spot micro trends and early entry/exit signals
I added the option to switch between a "line view" which shows the average trend and deviation bands and an "oscillator view" which shows an oscillator and histogram (MACD style)
General usage:
1. The white line is the average trend (which is an average of the last N bars open, close, high, low price).
2. Bands around the average trend are standard deviations which can be adjusted in the options menu and are only visible in "lines view". Basically they are like the clouds in the Ichimoku Cloud indicator - In big deviation bands the price movement needs more "power" to break through the average trend and vice versa.
3. Indicator line (blue line) - This is the EMA which represents the price. Crossing the average trend from below indicates an uptrend and vice versa (crossing from above indicates a down trend).
4. Signal line (red line) - This is a smoothed version of the indicator line which can be used to predict the movement of the price when crossed by the indicator line (like at MACD and many other indicators).
Oscillator usage:
When switched to "oscillator view" the indicator line oscillates around a zero line which can be seen as the average trend. The usage is basically the same as described above. However there is also the histogram which shows the difference between the indicator and signal. Of course the histogram can be deactivated. Additionally a color filling can be added to easily spot entry/exit signals.
As always: Code is free do whatever you like. If you have any questions/comments/etc. just drop it in the comment section.
Open Interest OffsetThis indicator is used to display whether there has been an abnormal increase or decrease in recent contract positions. Its usage is similar to the RSI indicator.
Please note that this indicator uses fixed (customizable) thresholds of 0.4 and 0.6 to indicate when abnormal opening and closing occur respectively. For some altcoins, their values may far exceed 0.4 so please adjust accordingly based on your symbol.
(1) When there is an abnormal increase in recent contract positions, the value of the indicator will be above 0.4. This means that there may be a liquidation market situation occurring subsequently. If the market background at this time is rising, it may not be suitable to continue buying because the indicator shows that it is currently overbought. On the contrary, it may be appropriate to sell now.
(2) When there is an abnormal decrease in recent contract positions, the value of the indicator will be below -0.4. This means that a liquidation market situation has occurred recently. If the market background at this time is falling, it may not be suitable to continue shorting because the indicator shows that it is currently oversold. On the contrary, it may be appropriate to buy now.
Special thanks to the following TradingView community members for providing open-source indicators and contributing to the development of this indicator!
Open Interest Delta - By Leviathan - @LeviathanCapital
Regarding the relationship with the above-mentioned open source indicator:
Indicator Open Interest Delta - By Leviathan - @LeviathanCapital obtained OI data for Binance USDT perpetual contracts in the code. We refer to their method of obtaining OI data in our code.
============= 中文版本 =============
该指标用于显示近期合约持仓量是否有异常的增加和减少。它的用法类似于RSI指标
请注意，该指标使用了固定的（可定制的）阈值0.4和0.6来提示异常开仓和平仓的发生。对于某些山寨币而言，指标的数值可能远大于0.4。请根据你所关注的标的自行调整
（1）当近期合约持仓量有异常的增加时，指标的值会在0.4以上。这意味着后续可能有清算行情的发生。若此时市场背景为上涨，此时可能不太适合继续做多，因为指标显示目前处于超买行情。相反，现在可能适合卖出
（2）当近期合约的持仓量有异常的减少时，指标的值会在-0.4以下。这意味着近期已经发生了清算行情。若此时市场背景为下跌，此时可能不太适合继续做空，因为指标显示目前处于超卖行情。相反，现在可能适合买入
特别感谢以下TradingView社区成员提供开源指标并为该指标的开发做出贡献！
Open Interest Delta - By Leviathan - @LeviathanCapital
与上述开源指标的关系：
指标Open Interest Delta - By Leviathan - @LeviathanCapital在代码中获取了Binance USDT永续合约的OI数据。我们在代码中参考他们获取OI数据的方式
KDJ-RSI Buy/Sell Signal ver. 1It is an indicator combining the RSI indicator and KDJ indicator.
Buy signal will triggers when:
RSI signal positioning below 25
J value crosses below 0
Sell signal will triggers when:
RSI signal positioning above 85
J value crosses above 100
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Please take note that this indicator may be not accurate for every chart in the crypto market, but it is most appropriate to use it in BTC/USDT charts, mainly for 1h, 4h, and 1d candles. Not recommended to use it for 1m or 15m leverage trades, this indicator might be altered by FOMO sentiment.
T3 OscillatorTL;DR - An Oscillator based on T3 moving average
The T3 moving average is a well known moving average created by Tim TIllson. Oscillator values are created by using the simple formula "source (close by default) - T3 moving average". Tim Tillson used a "volume factor" of 0.7 in his original T3 calculation. I changed this value to 0.618 and added the option to change it if needed/wanted. I also added alarms for zero line crossing upwards and downward, a smoothing option and custom time frames.
Compared to other oscillators like TSI, MACD etc. I observed better signals, especially in trending market situations, from the T3 oscillator (I tested Forex and Crypto).
Usage is simple: If the oscillator is above 0 it indicates a bearish trend. If below 0 it indicates a bullish trend. -> Really simple to use. However it can also be used to determine micro trends and reversals when combined with price action analysis. To keeps things simple I have not added a moving average like many other oscillators because I think it is confusing and does not help (in this particular case).
P.S. I haven't found a T3 oscillator on Trading View. Code is free - do whatever you want with it ;)
Trend Angle Candle ColorIntroduction:
As a trader, understanding the trend of the market is crucial for making informed decisions. One way to gain insight into the market trend is by using technical indicators, which are mathematical calculations that provide traders with valuable information about price action. In this post, we will explore a unique indicator called the "Trend Angle Candle Color" that not only identifies the trend but also visualizes it using color-coded candlesticks. We'll dive into the script, discuss its key components, and explain how you can benefit from using it in your trading strategy.
Script Overview:
The Trend Angle Candle Color Indicator is written in the Pine Script language for the TradingView platform. The indicator utilizes a combination of Exponential Moving Average (EMA), Average True Range (ATR), and Epanechnikov Kernel function to calculate the trend angle, which is then represented by color-coded candlesticks. The script offers several customizable inputs, such as the length of the lookback period, the scale (sensitivity), and the smoothing factor.
Key Components of the Script:
Inputs:
Length: Determines the lookback period for calculating the trend.
Scale: Adjusts the sensitivity of the indicator.
Smoothing: Controls the degree of smoothing applied to the angle calculation.
Smoothing Factor: Adjusts the weight of the Epanechnikov Kernel function.
Functions:
grad(src): A function that takes an input value and returns a corresponding color from a predefined gradient.
ema(source): An Exponential Moving Average function that smoothens the price data.
atan2(y, x) and degrees(float source): Functions that convert the slope into an angle in radians and then into degrees.
epanechnikov_kernel(_src, _size, _h, _r): A function that applies the Epanechnikov Kernel smoothing method to the angle data.
Calculations:
ATR: Calculates the Average True Range using the EMA function.
Slope: Determines the slope of the price change over the specified lookback period.
Angle_rad: Converts the slope into an angle in radians.
Degrees: Applies the Epanechnikov Kernel smoothing function to the angle data and scales it to a range between 0 to 100.
Visualization:
Colour: Assigns a color to each candlestick based on the calculated degree value using the grad() function.
Barcolor(colour) and plotcandle(): Functions that display the color-coded candlesticks on the chart.
Benefits of Using the Trend Angle Candle Color Indicator:
Easy Visualization: The color-coded candlesticks provide a simple and intuitive way to understand the market trend direction and strength at a glance.
Customizable Parameters: The customizable inputs allow traders to fine-tune the indicator to their preferred settings, suiting their trading style and strategy.
Versatility: The Trend Angle Candle Color Indicator can be used across various timeframes and financial instruments, making it a valuable addition to any trader's toolkit.
Conclusion:
The Trend Angle Candle Color Indicator is a powerful tool that can enhance your trading strategy by providing a visual representation of the market trend. The unique combination of EMA, ATR, and Epanechnikov Kernel smoothing helps create a more accurate and easy-to-understand trend angle calculation. By incorporating this indicator into your trading analysis, you can gain better insight into market dynamics and make more informed trading decisions.
Trend AngleIntroduction:
In today's post, we'll dive deep into the source code of a unique trading tool, the Trend Angle Indicator. The script is an indicator that calculates the trend angle for a given financial instrument. This powerful tool can help traders identify the strength and direction of a trend, allowing them to make informed decisions.
Overview of the Trend Angle Indicator:
The Trend Angle Indicator calculates the trend angle based on the slope of the price movement over a specified period. It uses an Exponential Moving Average (EMA) to smooth the data and an Epanechnikov kernel function for additional smoothing. The indicator provides a visual representation of the trend angle, making it easy to interpret for traders of all skill levels.
Let's break down the key components of the script:
Inputs:
Length: The number of periods to calculate the trend angle (default: 8)
Scale: A scaling factor for the ATR (Average True Range) calculation (default: 2)
Smoothing: The smoothing parameter for the Epanechnikov kernel function (default: 2)
Smoothing Factor: The radius of the Epanechnikov kernel function (default: 1)
Functions:
ema(): Exponential Moving Average calculation
atan2(): Arctangent function
degrees(): Conversion of radians to degrees
epanechnikov_kernel(): Epanechnikov kernel function for additional smoothing
Calculations:
atr: The EMA of the True Range
slope: The slope of the price movement over the given length
angle_rad: The angle of the slope in radians
degrees: The smoothed angle in degrees
Plotting:
Trend Angle: The trend angle, plotted as a line on the chart
Horizontal lines: 0, 90, and -90 degrees as reference points
How the Trend Angle Indicator Works:
The Trend Angle Indicator begins by calculating the Exponential Moving Average (EMA) of the True Range (TR) for a given financial instrument. This smooths the price data and provides a more accurate representation of the instrument's price movement.
Next, the indicator calculates the slope of the price movement over the specified length. This slope is then divided by the scaled ATR to normalize the trend angle based on the instrument's volatility. The angle is calculated using the atan2() function, which computes the arctangent of the slope.
The final step in the process is to smooth the trend angle using the Epanechnikov kernel function. This function provides additional smoothing to the trend angle, making it easier to interpret and reducing the impact of short-term price fluctuations.
Conclusion:
The Trend Angle Indicator is a powerful trading tool that allows traders to quickly and easily determine the strength and direction of a trend. By combining the Exponential Moving Average, ATR, and Epanechnikov kernel function, this indicator provides an accurate and easily interpretable representation of the trend angle. Whether you're an experienced trader or just starting, the Trend Angle Indicator can provide valuable insights into the market and help improve your trading decisions.
Fetch ATR + MA StrategyA trend following indicator that allows traders/investors to enter trades for the long term, as it is mainly tested on the daily chart. The indicator fires off buy and sell signals. The sell signals can be turned off as trader can decide to use this indicator for long term buy signals. The buy signals are indicated by the green diamonds, and the red diamonds show the points on then chart where the asset can be sold.
The indicator uses a couple indicators in order to generate the buy signals:
- ADX
- ATR
- Moving Average of ATR
- 50 SMA
- 200 SMA
The buy signal is generated at the cross overs of the 50 and 200 SMA's while the ATR is lower than then Moving Average of the ATR. The buy signal is fired when these conditions are met and if the ADX is lower than 30.
The thought process is as follows:
When the ATR is lower than its moving average, the price should be in a low volatilty environment. An ADX between 25 and 50 signals a Strong trend. Every value below 25 is an absent or weak trend. So entering a trade when the volatilty is still low but increasing, you'll be entering a trade at the start of a new uptrend. This mechanism also filters out lots of false signals of the simple cross overs.
The sell signals are fired every time the 50 SMA drops below the 200 SMA.
Donchian Channel Oscillator (DonOsc) Preface
DonOsc stands for Donchian Channel Oscillator. This channel envelopes all prices, so if you set the height of the channel to 100 percent, you can plot the prices as percent in between, creating this sub-pane oscillator. For clarity the example chart shows a Donchian channel in the main-pane with the same look-back as the DonOsc, this way you can see how both are related.
Price River
Not only the close is plotted, but also the high and the low of the bar. Thus you get a structure that can be associated with a river, streaming from left to right, in which the price moves between the left bank (i.e. the plotted highs) and the right bank (i.e. the plotted lows), which meanders between the high border (100%) and the low border (0%) of the oscillator. The surface of the price river is gray. The price line is blue when up and dark red when down. The river has also color patches dark red, light red, blue and aqua. Stochastic patches; up: aqua, down: light red
If you look at the price river, you may notice that the price line is closer to the left bank (highs) when moving up and to the right bank (lows) when moving down. Because this phenomenon is used in the stochastic indicator, I named these stochastic patches. These are depicted on the wide side for visibility, so the aqua patches are to the right of the price line and the light-red patches to the left.
Widening patches; up: blue, down: red
If you look at tops or bottoms in bar charts, you may notice that long bars (wide range) tend to be there. You may say that prices turn with a ‘range bang’. This causes a widening of the price river, depicted as a patch on the wide side.
Channel Features
High (76.4 %) and low (23.6 %) Fibonacci levels.
In the oscillator there is no need to calculate Fibonacci levels, we can just plot them. If the price is above 50% the low level is shown with a green color, when below the high level with a pink color. When the price river crosses a level a ‘near border’ highlighter will flash, lime near the high border and orange near the low one.
New high and new low markers.
A flaw in the oscillator is that is doesn’t show actual new lows and new highs in the Donchian Channel, because everything is made relative. This is ‘repaired’ by adding markers, dark red for new low depicted between the high fib and border, blue for new high depicted between low fib and border. Used are the same colors as in the widening patches, because new highs and lows also lead to widening of the actual Channel.
Uptrend and downtrend highlighters.
If in the actual Channel the bars run in the upper half, an uptrend is happening as long as these remain there, a downtrend when the bars remain in the lower half. In the oscillator a yellow highlighter flashes when the price is higher than 50%, a red highlighter below 50%.
Interpretation of the DonOsc
This sub-pane indicator provides a wealth of useful information about what is going on in the market. First of all you immediately see whether there is an up or down trend and whether these lead to new highs or lows. Second of all you can estimate the importance of price movements in the context of the look-back period. Thirdly the width of the price river reveals the emotions in the market. The higher the emotions run, the more risk is involved in a postilion in the charted instrument.
Settings of the DonOsc
Look-back settings.
By default the script sets the look-back, depending on the time frame. This overrules the standard manual setting. If you switch this off, the manual setting will work. A feed-back label can by shown which informs about the current setting.
Smoothing
This concerns the price river. Default is 2, if you increase this setting, the river will loose its touch with the channel borders. O.t.o.h. the river wil be wider and better visible. Maximum setting is 5.
Colors
The momentum colors set both the river widening patches and new high and low markers.
Take care, Eykpunter.
Multi Time Frame Normalized PriceEnhance Your Trading Experience with the Multi Time Frame Normalized Price Indicator
Introduction
As a trader, having a clear and informative chart is crucial for making informed decisions. In this post, we will introduce the Multi Time Frame Normalized Price (MTFNP) Indicator, an innovative trading tool that offers an insightful perspective on price action. The script creates a symmetric chart, with the time axis going from top to bottom, making it easier to identify potential tops and bottoms in various ranges. Let's dive deeper into this powerful tool to understand how it works and how it can improve your trading experience.
The Multi Time Frame Normalized Price Indicator
The MTFNP Indicator is designed to provide a comprehensive view of price action across multiple time frames. By plotting the normalized price levels for each time frame, traders can easily identify areas of support and resistance, as well as potential tops and bottoms in various ranges.
One of the key features of this indicator is the symmetry of the chart. Instead of the traditional horizontal time axis, the MTFNP Indicator plots the time axis vertically from top to bottom. This innovative approach makes it easier for traders to visualize the price action across different time frames, enabling them to make more informed decisions.
Benefits of a Symmetric Chart
There are several advantages to using a symmetric chart with a vertical time axis, such as:
Easier to read: The unique layout of the chart makes it easier to analyze price action across multiple time frames. The clear separation between each time frame helps traders avoid confusion and identify important price levels more effectively.
Identifying tops and bottoms: The symmetric presentation of price action enables traders to quickly spot potential tops and bottoms in various ranges. This can be particularly useful for identifying potential reversal points or areas of support and resistance.
Improved decision-making: By offering a comprehensive view of price action, the MTFNP Indicator helps traders make better-informed decisions. This can lead to improved trading strategies and ultimately, better results.
The MTFNP Indicator Script
The MTFNP Indicator script leverages several custom functions, including the Chebyshev Type I Moving Average, to provide a smooth and responsive signal. Additionally, the indicator uses the Spider Plot function to create a symmetric chart with the time axis going from top to bottom.
To customize the MTFNP Indicator to your preferences, you can adjust the input parameters, such as the standard deviation length, multiplier, axes color, bottom color, and top color. You can also change the scale to fit your desired chart size.
Exploring the Relationship between Min, Max Values and Time Frames
In the Multi Time Frame Normalized Price (MTFNP) script, it is crucial to understand the relationship between the min and max values across different time frames. By analyzing how these values relate to each other, traders can make more informed decisions about market trends and potential reversals. In this section, we will dive deep into the relationship between the current time frame's min and max values and those of the further-out time frames.
Interpreting Min and Max Values Across Time Frames
When analyzing the min and max values of the current time frame in relation to the further-out time frames, it is essential to keep in mind the following points:
All min values: If the current time frame and all further-out time frames have min values, this is a strong indication that the current price level is not just a local minimum. Instead, it is likely a more significant support level. In such cases, there is a higher probability that the price will bounce back upwards, making it a potentially favorable entry point for a long position.
All max values: Conversely, if the current time frame and all further-out time frames have max values, this suggests that the current price level is not just a local maximum. Instead, it is likely a more significant resistance level. In these situations, there is a higher probability that the price will reverse downwards, making it a potentially favorable entry point for a short position.
Neutral values with high current time frame: If the current time frame has a high value while the further-out time frames are more neutral, it could indicate that the trend may continue. This is because the high value in the current time frame may signify momentum in the market, whereas the neutral values in the further-out time frames suggest that the trend has not yet reached an extreme level. In this case, traders might consider following the trend and entering a position in the direction of the current movement.
Neutral values with low current time frame: If the current time frame has a low value while the further-out time frames are more neutral, it could indicate that the trend may reverse. This is because the low value in the current time frame may suggest a potential reversal point, whereas the neutral values in the further-out time frames imply that the trend has not yet reached an extreme level. In this case, traders might consider entering a counter-trend position, anticipating a potential reversal.
Balancing Different Time Frames for Optimal Decision Making
It is essential to remember that relying solely on min and max values across different time frames can lead to potential pitfalls. The market is influenced by a wide array of factors, and no single indicator or data point can provide a complete picture. To make the most informed decisions, traders should consider incorporating additional technical analysis tools and evaluating the overall market context.
Moreover, it is crucial to maintain a balance between the current time frame and the further-out time frames. While the current time frame provides information about the most recent market movements, the further-out time frames offer a broader perspective on the market's historical behavior. By combining insights from both types of time frames, traders can make more comprehensive assessments of potential opportunities and risks.
Conclusion
In conclusion, the Multi Time Frame Normalized Price (MTFNP) script offers traders valuable insights by analyzing the relationship between the current time frame and further-out time frames. By identifying potential trend reversals and continuations, traders can make better-informed decisions about market entry and exit points.
Understanding the relationship between min and max values across different time frames is an essential component of using the MTFNP script effectively. By carefully analyzing these relationships and incorporating additional technical analysis tools, traders can improve their decision-making process and enhance their overall trading strategy.
However, it is important to remember that relying solely on the MTFNP script or any single indicator can lead to potential pitfalls. The market is influenced by a wide array of factors, and no single indicator or data point can provide a complete picture. To make the most informed decisions, traders should consider using a combination of technical analysis tools, evaluating the overall market context, and maintaining a balance between the current time frame and the further-out time frames for a comprehensive understanding of the market's behavior. By doing so, they can increase their chances of success in the ever-changing and complex world of trading.
Stochastic RSI Strategy (with SMA and VWAP Filters)The strategy is designed to trade on the Stochastic RSI indicator crossover signals.
Below are all of the trading conditions:
-When the Stochastic RSI crosses above 30, a long position is entered.
-When the Stochastic RSI crosses below 70, a short position is entered.
-The strategy also includes two additional conditions for entry:
-Long entries must have a positive spread value between the 9 period simple moving average and the 21 period simple moving average.
-Short entries must have a negative spread value between the 9 period simple moving average and the 21 period simple moving average.
-Long entries must also be below the volume-weighted average price.
-Short entries must also be above the volume-weighted average price.
-The strategy includes stop loss and take profit orders for risk management:
-A stop loss of 20 ticks is placed for both long and short trades.
-A take profit of 25 ticks is placed for both long and short trades.
Hull Suite Oscillator - Normalized | IkkeOmarThis script is based off the Hull Suite by @InSilico.
I made this script to provide and calculate the Hull Moving Average (HMA) based on the chosen variation (HMA, TMA, or EMA) and length to then normalize the HMA values to a range of 0 to 100. The normalized values are further smoothed using an exponential moving average (EMA).
The smoothed oscillator is plotted as a line, where values above 80 are colored red, values below 20 are colored green, and values between 20 and 80 are colored blue. Additionally, there are horizontal dashed lines at the levels of 20 and 80 to serve as reference points.
Explanation for the code:
The script uses the close price of the asset as the source for calculations. The modeSwitch parameter allows selecting the type of Hull variation: Hma, Thma, or Ehma. The length parameter determines the calculation period for the Hull moving averages. The lengthMult parameter is used to adjust the length for higher timeframes. The oscSmooth parameter determines the lookback period for smoothing the oscillator.
There are three functions defined for calculating different types of Hull moving averages: HMA, EHMA, and THMA. These functions take the source and length as inputs and return the corresponding Hull moving average.
The Mode function acts as a switch and selects the appropriate Hull variation based on the modeSwitch parameter. It returns the chosen Hull moving average.
The script calculates the Hull moving averages using the selected mode, source, and length. The main Hull moving average is stored in the _hull variable, and aliases are created for the main Hull moving average (HULL), the main Hull value (MHULL), and the secondary Hull value (SHULL).
To create the normalized oscillator values, the script finds the highest and lowest values of the Hull moving average within the specified length. It then normalizes the Hull values to a range of 0 to 100 using a formula. This normalized oscillator represents the strength of the trend.
To smooth out the oscillator values, an exponential moving average is applied using the oscSmooth parameter.
The smoothed oscillator is plotted as a line chart. The line color is determined based on the oscillator value using conditional statements. If the oscillator value is above or equal to 80, the line color is set to red. If it is below or equal to 20, the color is green. Otherwise, it is blue. The linewidth is set to 2.
Additionally, two horizontal reference lines are plotted at levels 20 and 80 for visual reference. They are displayed in gray and dashed style.
