Weighted Average Strength Index (WASI)Weighted Average Strength Index (WASI)
The Weighted Average Strength Index (WASI) is a variation of the standard RSI. It uses the Weighted Moving Average (WMA) instead of the Running Moving Average (RMA), making it more responsive to recent price changes. The hypothesis is that this weighted calculation might better capture momentum shifts, providing traders with more timely insights.
How to Use:
Backtest WASI on your preferred assets and timeframes to evaluate its effectiveness for your strategy.
Use for trend following or mean reversion :
- Overbought/Oversold (OB/OS) levels can signal potential mean-reversion opportunities.
- Midline (50 level) crossovers can be used for trend-following strategies.
- WASI and its moving average (MA) crossovers offer additional trend-following or reversal signals.
Parameters and Their Functions:
WASI Length: Determines the number of periods for WASI calculation. A longer length smooths the indicator but increases lag, while a shorter length makes it more sensitive. (When in doubt, go longer).
Source: The price source for the calculation (e.g., close, open, high, or low).
MA Type: Specifies the type of moving average applied to the WASI (options include SMA, EMA, WMA, HMA, and others).
MA Length: The number of periods for the moving average used on the WASI. Higher will lead to a smoother moving average.
Indicator Features:
Dynamic OB/OS Levels: Default overbought (70) and oversold (30) levels help identify potential reversal zones.
Midline Crossover: WASI crossing above or below the 50 level may indicate a trend shift.
WASI-MA Crossover: Crossovers between WASI and its moving average can signal trend-following or mean-reversion opportunities.
Disclaimer:
This indicator is a tool for analysis and should be used in conjunction with other forms of analysis or confirmation. Past performance does not guarantee future results.
Indicators and strategies
Max Pain StrategyThe Max Pain Strategy uses a combination of volume and price movement thresholds to identify potential "pain zones" in the market. A "pain zone" is considered when the volume exceeds a certain multiple of its average over a defined lookback period, and the price movement exceeds a predefined percentage relative to the price at the beginning of the lookback period.
Here’s how the strategy functions step-by-step:
Inputs:
length: Defines the lookback period used to calculate the moving average of volume and the price change over that period.
volMultiplier: Sets a threshold multiplier for the volume; if the volume exceeds the average volume multiplied by this factor, it triggers the condition for a potential "pain zone."
priceMultiplier: Sets a threshold for the minimum percentage price change that is required for a "pain zone" condition.
Calculations:
averageVolume: The simple moving average (SMA) of volume over the specified lookback period.
priceChange: The absolute difference in price between the current bar's close and the close from the lookback period (length).
Pain Zone Condition:
The condition for entering a position is triggered if both the volume is higher than the average volume by the volMultiplier and the price change exceeds the price at the length-period ago by the priceMultiplier. This is an indication of significant market activity that could result in a price move.
Position Entry:
A long position is entered when the "pain zone" condition is met.
Exit Strategy:
The position is closed after the specified holdPeriods, which defines how many periods the position will be held after being entered.
Visualization:
A small triangle is plotted on the chart where the "pain zone" condition is met.
The background color changes to a semi-transparent red when the "pain zone" is active.
Scientific Explanation of the Components
Volume Analysis and Price Movement: These are two critical factors in trading strategies. Volume often serves as an indicator of market strength (or weakness), and price movement is a direct reflection of market sentiment. Higher volume with significant price movement may suggest that the market is entering a phase of increased volatility or trend formation, which the strategy aims to exploit.
Volume analysis: The study of volume as an indicator of market participation, with increased volume often signaling stronger trends (Murphy, J. J., Technical Analysis of the Financial Markets).
Price movement thresholds: A large price change over a short period may be interpreted as a breakout or a potential reversal point, aligning with volatility and liquidity analysis (Schwager, J. D., Market Wizards).
Repainting Check: This strategy does not involve any repainting because it is based on current and past data, and there is no reference to future values in the decision-making process. However, any strategy that uses lagging indicators or conditions based on historical bars, like close , is inherently a lagging strategy and might not predict real-time price action accurately until after the fact.
Risk Management: The position hold duration is predefined, which adds an element of time-based risk control. This duration ensures that the strategy does not hold a position indefinitely, which could expose it to unnecessary risk.
Potential Issues and Considerations
Repainting:
The strategy does not utilize future data or conditions that depend on future bars, so it does not inherently suffer from repainting issues.
However, since the strategy relies on volume and price change over a set lookback period, the decision to enter or exit a trade is only made after the data for the current bar is complete, meaning the trade decisions are somewhat delayed, which could be seen as a lagging feature rather than a repainting one.
Lagging Nature:
As with many technical analysis-based strategies, this one is based on past data (moving averages, price changes), meaning it reacts to market movements after they have already occurred, rather than predicting future price actions.
Overfitting Risk:
With parameters like the lookback period and multipliers being user-adjustable, there is a risk of overfitting to historical data. Adjusting parameters too much based on past performance can lead to poor out-of-sample results (Gauthier, P., Practical Quantitative Finance).
Conclusion
The Max Pain Strategy is a simple approach to identifying potential market entries based on volume spikes and significant price changes. It avoids repainting by relying solely on historical and current bar data, but it is inherently a lagging strategy that reacts to price and volume patterns after they have occurred. Therefore, the strategy can be effective in trending markets but may struggle in highly volatile, sideways markets.
Volume Volatility and Delta Indicator (HN)This Volume Volatility Indicator with Overall Average from Hossein.N helps you visualize the volatility of volume on different timeframes and compares it to the average volume over a given period. It includes several components:
Volume Volatility Indicator (Blue Line): This shows the volatility of volume relative to its moving average over a specified period. Higher values indicate more volatile trading conditions.
Long-Term Volatility Average (Orange Line): This line shows the moving average of the volume volatility indicator over a longer period. It acts as a benchmark for comparing the current volume volatility with historical trends.
Average Volume on Up Days (Green Line): Displays the average volume on days when the price is going up (green).
Average Volume on Down Days (Red Line): Displays the average volume on days when the price is going down (red).
Delta in Percentage (Blue Line): This shows the difference between the average volume of up days and down days, expressed as a percentage of the overall moving average of volume. It can be used to identify bullish or bearish volume imbalances. For example:
Positive values indicate that the volume on up days is stronger than on down days, which could suggest a bullish trend.
Negative values suggest that volume on down days is stronger than on up days, potentially indicating a bearish trend.
Zero Line (Gray Dotted Line): A reference line at 0 that helps you identify when the delta is positive or negative, and visualize the neutral point where volume is balanced between up and down days.
How to Use This Indicator:
Add to Your Chart: Copy the script above and paste it into TradingView's Pine Script editor. Click "Add to Chart" to visualize the indicator.
Interpret the Indicator:
Volume Volatility: A higher value suggests high market volatility. When volume is highly volatile, it may indicate more significant price movements or market uncertainty.
Long-Term Average of Volatility: Use this line as a reference to see whether current volatility is above or below average over a longer period.
Delta in Percentage: This is particularly useful to compare the strength of buying and selling volume. A positive delta percentage suggests strong buying pressure, while a negative delta suggests strong selling pressure. The closer the delta is to zero, the more balanced the volume between up and down days.
Use for Trend Confirmation: The indicator can help confirm trends. If the delta percentage is positive and increasing, and the volume volatility is above average, it could signal strong bullish momentum. Conversely, if the delta is negative and the volume volatility is rising, it may suggest bearish sentiment.
Risk Disclaimer:
Important: This indicator is a tool designed to help analyze market conditions. It does not guarantee success in trading and should not be used as the sole basis for making trading decisions. Always do your own research, consider other factors (e.g., price action, market news, fundamentals), and manage your risk appropriately. Trading involves significant risk, and you should only trade with money you can afford to lose. Always ensure you understand the risks involved in trading and use risk management strategies.
By using this tool, you accept full responsibility for any trading decisions and the outcomes thereof. The information presented is for educational and informational purposes only.
Multi-Timeframe ATRsThis Multi-Timeframe ATR Indicator displays the Average True Range (ATR) values from multiple timeframes on a single chart, allowing traders to assess market volatility across different time periods. The indicator calculates and plots the ATR for the 1-hour, 3-hour, 4-hour, 1-day, and 2-day timeframes, with the option to toggle each timeframe on or off based on user preferences. By visualizing these ATR values, traders can identify potential price movement expectations for various timeframes and better understand how volatility is shifting across the market. This tool is handy for traders who want to gauge volatility over different time periods and incorporate it into their trading strategies.
By evaluating higher timeframes when entering trades, a trader can better understand market conditions. This insight helps the trader make informed decisions about whether to remain in the trade for a longer period.
The indicator is fully customizable, with color-coded plots for each timeframe and optional labels that display the ATR values directly on the chart. It is ideal for traders looking to add volatility insights to their technical analysis without cluttering their charts.
TechniTrend: Volatility and MACD Trend Highlighter🟦 Overview
The "Candle Volatility with Trend Prediction" indicator is a powerful tool designed to identify market volatility based on candle movement relative to average volume while also incorporating trend predictions using the MACD. This indicator is ideal for traders who want to detect volatile market conditions and anticipate potential price movements, leveraging both price changes and volume dynamics.
It not only highlights candles with significant price movements but also integrates a trend analysis based on the MACD (Moving Average Convergence Divergence), allowing traders to gauge whether the market momentum aligns with or diverges from the detected volatility.
🟦 Key Features
🔸Volatility Detection: Identifies candles that exceed normal price fluctuations based on average volume and recent price volatility.
🔸Trend Prediction: Uses the MACD indicator to overlay trend analysis, signaling potential market direction shifts.
🔸Volume-Based Analysis: Integrates customizable moving averages (SMA, EMA, WMA, etc.) of volume, providing a clear visualization of volume trends.
🔸Alert System: Automatically notifies traders of high-volatility situations, aiding in timely decision-making.
🔸Customizability: Includes multiple settings to tailor the indicator to different market conditions and timeframes.
🟦 How It Works
The indicator operates by evaluating the price volatility in relation to average volume and identifying when a candle's volatility surpasses a threshold defined by the user. The key calculations include:
🔸Average Volume Calculation: The user selects the type of moving average (SMA, EMA, etc.) to calculate the average volume over a set period.
🔸Volatility Measurement: The indicator measures the body change (difference between open and close) and the high-low range of each candle. It then calculates recent price volatility using a standard deviation over a user-defined length.
🔸Weighted Index: A unique index is created by dividing price change by average volume and recent volatility.
🔸Highlighting Volatility: If the weighted index exceeds a customizable threshold, the candle is highlighted, indicating potential trading opportunities.
🔸Trend Analysis with MACD: The MACD line and signal line are plotted and adjusted with a user-defined multiplier to visualize trends alongside the volatility signals.
🟦 Recommended Settings
🔸Volume MA Length: A default of 14 periods for the average volume calculation is recommended. Adjust to higher periods for long-term trends and shorter periods for quick trades.
🔸Volatility Threshold Multiplier: Set at 1.2 by default to capture moderately significant movements. Increase for fewer but stronger signals or decrease for more frequent signals.
🔸MACD Settings: Default MACD parameters (12, 26, 9) are suggested. Tweak based on your trading strategy and asset volatility.
🔸MACD Multiplier: Adjust based on how the MACD should visually compare to the average volume. A multiplier of 1 works well for most cases.
🟦 How to Use
🔸Volatile Market Detection:
Look for highlighted candles that suggest a deviation from typical price behavior. These candles often signify an entry point for short-term trades.
🔸Trend Confirmation:
Use the MACD trend analysis to verify if the highlighted volatile candles align with a bullish or bearish trend.
For example, a bullish MACD crossover combined with a highlighted candle suggests a potential uptrend, while a bearish crossover with volatility signals may indicate a downtrend.
🔸Volume-Driven Strategy:
Observe how volume changes impact candle volatility. When volume rises significantly and candles are highlighted, it can suggest strong market moves influenced by big players.
🟦 Best Use Cases
🔸Trend Reversals: Detect potential trend reversals early by spotting divergences between price and MACD within volatile conditions.
🔸Breakout Strategies: Use the indicator to confirm price breakouts with significant volume changes.
🔸Scalping or Day Trading: Customize the indicator for shorter timeframes to capture rapid market movements based on volatility spikes.
🔸Swing Trading: Combine volatility and trend insights to optimize entry and exit points over longer periods.
🟦 Customization Options
🔸Volume-Based Inputs: Choose from SMA, EMA, WMA, and more to define how average volume is calculated.
🔸Threshold Adjustments: Modify the volatility threshold multiplier to increase or decrease sensitivity based on your trading style.
🔸MACD Tuning: Adjust MACD settings and the multiplier for trend visualization tailored to different asset classes and market conditions.
🟦 Indicator Alerts
🔸High Volatility Alerts: Automatically triggered when candles exceed user-defined volatility levels.
🔸Bullish/Bearish Trend Alerts: Alerts are activated when highlighted volatile candles align with bullish or bearish MACD crossovers, making it easier to spot opportunities without constantly monitoring the chart.
🟦 Examples of Use
To better understand how this indicator works, consider the following scenarios:
🔸Example 1: In a strong uptrend, observe how volume surges and volatility highlight candles right before price consolidations, indicating optimal exit points.
🔸Example 2: During a downtrend, see how the MACD aligns with volume-driven volatility, signaling potential short-selling opportunities.
Non-repainting ticker
The objective here is to provide a "non-repainting" source to indicators, meaning being sure that data is stable and will not affect the results, w/o having to make any change into the indicators
To use it :
1- include this "NRT" indicators onto your page : nothing will be displayed, just keep it.
2- as an exemple, when running any other indicator onto this page, and willing to select "close" as a source, just select instead " NRT: close" into source input; your indicator will then run "non-repainting"
Available sources : open, high, low , close, hl2, hlc3, ohlc4, hlcc4
Abnormal Candle DetectorAbnormal Candle Detector
The Abnormal Candle Detector identifies sudden and unusual price movements by comparing the current candle's size and volume to recent averages. It highlights candles that deviate significantly from normal market behavior, helping traders spot breakouts, reversals, or high-impact events.
Features:
1. Abnormal Size Detection: Flags candles where the range (high-low) exceeds a user-defined multiplier of the average range.
2. Volume Confirmation: Optionally ensures abnormal movements are backed by higher-than-average volume.
3. Visual Markers:
Green triangles for bullish abnormal candles.
Red triangles for bearish abnormal candles.
Background highlights for better visibility.
4. Alerts: Real-time notifications when abnormal candles are detected.
Why Use It?
Spot early breakouts or trend reversals.
Identify high-impact events driven by news or institutional activity.
Filter noise and focus on significant market movements.
Customizable for any market or timeframe, the Abnormal Candle Detector is perfect for traders who want to stay ahead of major price action.
XAMD/AMDX ICT 01 [TradingFinder] SMC Quarterly Theory Cycles🔵 Introduction
The XAMD/AMDX strategy, combined with the Quarterly Theory, forms the foundation of a powerful market structure analysis. This indicator builds upon the principles of the Power of 3 strategy introduced by ICT, enhancing its application by incorporating an additional phase.
By extending the logic of Power of 3, the XAMD/AMDX tool provides a more detailed and comprehensive view of daily market behavior, offering traders greater precision in identifying key movements and opportunities
This approach divides the trading day into four distinct phases : Accumulation (19:00 - 01:00 EST), Manipulation (01:00 - 07:00 EST), Distribution (07:00 - 13:00 EST), and Continuation or Reversal (13:00 - 19:00 EST), collectively known as AMDX.
Each phase reflects a specific market behavior, providing a structured lens to interpret price action. Building on the fractal nature of time in financial markets, the Quarterly Theory introduces the Four Quarters Method, where a currency pair’s price range is divided into quarters.
These divisions, known as quarter points, highlight critical levels for analyzing and predicting market dynamics. Together, these principles allow traders to align their strategies with institutional trading patterns, offering deeper insights into market trends
🔵 How to Use
The AMDX framework provides a structured approach to understanding market behavior throughout the trading day. Each phase has its own characteristics and trading opportunities, allowing traders to align their strategies effectively. To get the most out of this tool, understanding the dynamics of each phase is essential.
🟣 Accumulation
During the Accumulation phase (19:00 - 01:00 EST), the market is typically quiet, with price movements confined to a narrow range. This phase is where institutional players accumulate their positions, setting the stage for future price movements.
Traders should use this time to study price patterns and prepare for the next phases. It’s a great opportunity to mark key support and resistance zones and set alerts for potential breakouts, as the low volatility makes immediate trading less attractive.
🟣 Manipulation
The Manipulation phase (01:00 - 07:00 EST) is often marked by sharp and deceptive price movements. Institutions create false breakouts to trigger stop-losses and trap retail traders into the wrong direction. Traders should remain cautious during this phase, focusing on identifying the areas of liquidity where these traps occur.
Watching for price reversals after these false moves can provide excellent entry opportunities, but patience and confirmation are crucial to avoid getting caught in the manipulation.
🟣 Distribution
The Distribution phase (07:00 - 13:00 EST) is where the day’s dominant trend typically emerges. Institutions execute large trades, resulting in significant price movements. This phase is ideal for trading with the trend, as the market provides clearer directional signals.
Traders should focus on identifying breakouts or strong momentum in the direction of the trend established during this period. This phase is also where traders can capitalize on setups identified earlier, aligning their entries with the market’s broader sentiment.
🟣 Continuation or Reversal
Finally, the Continuation or Reversal phase (13:00 - 19:00 EST) offers a critical juncture to assess the market’s direction. This phase can either reinforce the established trend or signal a reversal as institutions adjust their positions.
Traders should observe price behavior closely during this time, looking for patterns that confirm whether the trend is likely to continue or reverse. This phase is particularly useful for adjusting open positions or initiating new trades based on emerging signals.
🔵 Settings
Show or Hide Phases.
Adjust the session times for each phase :
Accumulation: 19:00-01:00 EST
Manipulation: 01:00-07:00 EST
Distribution: 07:00-13:00 EST
Continuation or Reversal: 13:00-19:00 EST
Modify Visualization : Customize how the indicator looks by changing settings like colors and transparency.
🔵 Conclusion
AMDX provides traders with a practical method to analyze daily market behavior by dividing the trading day into four key phases: Accumulation, Manipulation, Distribution, and Continuation or Reversal. Each phase highlights specific market dynamics, offering insights into how institutional activity shapes price movements.
From the quiet buildup in the Accumulation phase to the decisive trends of the Distribution phase, and the critical transitions in Continuation or Reversal, this approach equips traders with the tools to anticipate movements and make informed decisions.
By recognizing the significance of each phase, traders can avoid common traps during Manipulation, capitalize on clear trends during Distribution, and adapt to changes in the final phase of the day.
The structured visualization of market phases simplifies decision-making for traders of all levels. By incorporating these principles into your trading strategy, you can enhance your ability to align with market trends, optimize entry and exit points, and achieve more consistent results in your trading journey.
EMAs CrossThis script generates a line that changes color when evaluating the values and intersections of the 7-, 14-, and 42-day exponential averages, indicating possible entry and exit points.
In general, yellow indicates the beginning of an uptrend, green confirms an uptrend, and brown indicates a downtrend.
Using this script together with the RSI can help you make decisions about the best times to enter and exit positions.
The script was created to generate an indicator in a separate window from the main chart, but adding this indicator to the main window can help you visualize and interpret market movements.
Crypto Value RainbowThe best way to value Crypto value is comparing Crypto price against the available money supply circulating in the economy. There are 3 different 4 different type of money supply M0/M1/M2/M3 which denotes the level of money printed by central government to the final credit lend out to the economy via fractional banking system. This rainbow valuation measures the relative Crypto price against the M0/M1/M2/M3 from most popular currency that account for more than 75% of money supply in the world.
CV = US MS + EU MS + CN MS + JP MS + UK MS
CV = Crypto Value
MS = Money Supply
This can only be applied to a few crypto currency:
- BTCUSD Bitcoin
- ETHUSD Ehereum
- BNBUSD BNB
- SOLUSD Solana
- XRPUSD XRP
- TONUSD Toncoin
- DOGEUSD Dogecoin
- TRXUSD Tron
- ADAUSD Cardano
- AVAXUSD Avalanche
The rainbow color is the multiplier for the total Crypto Value by 1x,2x,3x,...,10x
Daily MAs on Intraday ChartsThis is a very simple, yet powerful indicator, for intraday and swing traders.
The indicator plots price levels of key daily moving averages as horizontal lines onto intraday charts.
The key daily moving averages being:
5-day EMA
10-day EMA
21-day EMA
50-day SMA
100-day SMA
200-day SMA
The moving averages above can be toggled on and off to the users liking and different colours selected to show the locations of daily moving average price levels on intraday charts.
Below is a chart of the SPY on the 30-minute timeframe. The black line represents the price level of the SPY's 10-day EMA, and the blue line represents the price level of the SPY's 21-day EMA.
Key daily moving averages like those mentioned above can be areas of support or resistance for major indexes, ETFs, and individual stocks. Therefore, when using multiple timeframe analysis combining daily charts and intraday charts, it's useful to be aware of these key daily moving average levels for potential reversals.
This indicator clearly shows where the key daily moving average price levels are on intraday charts for the chosen ticker symbol, thus helping traders to identify potential points of interest for trading ideas - i.e., going long or pullbacks into key daily moving averages, or short on rallies into key daily moving averages subject to the trader's thoughts at the time.
By using the 'Daily MAs on Intraday Charts' the trader can now have a multi-chart layout and be easily aware of key price levels from daily moving averages when looking at various intraday timeframe charts such as the 1-minute, 5-minute, 15-minute, 30-minute, 1-hour etc. This can be essential information for opening long and short trading ideas.
Order blocksHi all!
This indicator will show you found order blocks that can be used as supply or demand. It's my take on trying to create good order blocks and I hope it makes sense.
First off I suggest to verify the current trend before using an order block. This can be done in a variety of ways, one way could be to use my other script "Market structure" () which I use and suggest.
You can configure the indicator to behave differently depending on settings. These are the settings available:
• The order blocks created can be found in any higher timeframe defined in "Timeframe"
• The number of active order blocks are defined in "Count". If an order block is found the earliest order block will be replaced
• You can choose the type of order blocks that are found ("Bullish", "Bearish " or "Both") in "Type"
• The old order blocks can be kept if "Keep history" is checked
• Order blocks that are found are not removed when mitigated (entered) but when a new one appears. They can be removed when they are broken by price if "Remove broken zones" are checked
There is also a setting section called "Requirements" that defines what is required for an order block to be created. These are the settings:
• "Take out"
Check this if you want the base of the order block (the candle where the zone is drawn from (high and low)) to have to take out the previous candle (be higher or lower depending if the order block is bullish or bearish).
• "Consecutive rising/falling"
Each following candle in the reaction (the 3 reaction candles) needs to reach higher or lower (depending on bullish or bearish). Check this if you want that to be true.
• "Reaction"
Some sort of reaction is needed from the 3 candles creating the order block. This reaction is based on the value of the Average True Length (ATR) of length 14. You can here define a factor of the value from the ATR that these 3 candles needs to move in price. A higher need for a reaction (higher factor of the ATR) will create lesser zones. You can also choose to show this limit with the checkbox.
• "Fair Value Gap"
The reaction needs to create a gap (imbalance) in price. This gap is known as a "Fair Value Gap" and is created when the last candle's wick does not meet with the base candle's wick. Check this if you want this to be needed.
After these settings you can also choose the colors of the created zones. The ones that are active (called "Zones"), the ones that are replaced ("Replaced zones") and the ones that are broken ("Broken zones") (if this is enabled in "Remove broken zones").
I'm using my library "Touched" to be able to show you labels when the order blocks have a retest, false breakout and breakout. These labels can be hidden if you disable the labels under the style tab in the indicator settings.
The concept of order blocks is widely used among traders and can provide you with good supply or demand zones. I hope that this indicator makes sense.
My todo-list has a few things, but top of that list is adding alerts for zone interactions or creations. Please feel free to say what you want to be coded!
The order blocks in the publication chart are found in weekly timeframe but are shown on the daily timeframe. Other than that the image shows you zones from the default settings (which are based on the daily timeframe).
Best of luck trading!
Bull Bear Candles with Volume ProfileUser Guide for Bull Bear Candles Indicator with Keltner Channels
Author: NellyN
Introduction
This indicator helps identify potential bullish and bearish trends in the market by analyzing buying and selling volume over two configurable timeframes. It calculates the percentage of buying and selling volume and displays the current market condition based on two moving averages for 2 periods.
Key Features
• Volume Analysis : Calculates Buy and Sell Volume for two configurable timeframes (e.g., 5 min, 15 min, 15 min. and 1 hour, etc.) and displays them as percentages.
• Moving Averages : Uses one Moving Average (MA) for two different time periods to identify trends (uptrend when shorter-term MA is above longer-term MA). You can also choose other Moving Average types like SMA, EMA, WMA, RMA, VWMA, or HMA.
• Colored Candles : Candles are colored green for bullish conditions, red for bearish conditions, and gray for neutral conditions.
• Market Condition Labels : Displays labels in table-view indicating the current market condition based on Buy and Sell Volume (Very Bullish, Very Bearish, Bullish/Bearish Retracement, Chop).
• Alerts: Generates alerts for potential buy and sell signals based on indicator conditions (Note: Enable alerts in the indicator settings).
• Visual Signals: Provides visual signals through colored candles and market condition labels in addition to alerts.
Input Parameters
• Source: Close price (default) or Heikin Ashi
• Timeframe: Select the timeframe for price and volume data used in the indicator (e.g., Daily, Hourly).
• Colored Candles On: Enable (True) or disable (False) coloring candles based on market conditions.
• Enable Alerts: Enable (True) or disable (False) alerts for buy/sell signals.
• Length of MA: Sets the length for the MAs used in trend identification (minimum 1).
• Lookback Period Vol. 1 & 2: Define the timeframes used to calculate buying and selling volume and the MA calculation (e.g., 5 min, 15 min).
Understanding the Outputs
• Cloud Fill: The area between two MAs is filled with a color that reflects the trend (green for uptrend, red for downtrend).
• Table: Shows Buy Volume, Sell Volume, Buy Percentage, Sell Percentage, and the current Market Condition Labels. (If you decide to see them uncomment them from the code simply removing the // in front of the code)
• Colored Candles and Market Condition Labels: Look for green candles and bullish labels for potential buying opportunities, and vice versa for red candles and bearish labels.
Bullish green label appears when short-term MA is above long-term MA AND Buy Volume percentage is greater than 50%.
Red cross for exiting long entry appears when we have bearish volume OR bearish crossover of the MA for the 2 periods.
Bearish red label appears when short-term MA is below long-term MA AND Buy Volume percentage is less than 50%.
Green cross for exiting short entry appears when we have bullish volume OR bullish crossover of the MA for the 2 periods.
• Bullish/Bearish Retracement: The moving averages indicate a potential trend reversal, while the Buy Volume percentage suggests a continuation of the prior trend. The candle color may be green, red, or gray depending on the current price position relative to the moving averages.
• Chop (Gray Candle): The moving averages are flat and the Buy Volume percentage is not significantly above or below 50%.
• Buy/Sell Alerts: The indicator generates alerts based on specific conditions, but these should be used in conjunction with other trading strategies and careful risk management.
Important Notes
• This indicator is for informational purposes only and should not be considered financial advice. Back-test the indicator with historical data to understand its performance before using it for live trading.
• Combine this indicator with other technical analysis tools.
ORB Screener with Trailing SLThis is an extension to our already published script ORB with ATR Trailing SL indicator
Many people requested to add screener to the existing indicator but since it's slowing down the performance heavily, we decided to add this as a separate screener.
Note: This screener does NOT plot the chart and so you want to have both plotting and screener, use both scripts together.
Overview:
The ORB Screener is a TradingView indicator designed to assist traders in identifying breakout opportunities based on the Opening Range Breakout (ORB) strategy. It features multi-symbol screening, customizable session timeframes, and a detailed table for quick visual reference and stock scanning.
The ORB Screener utilizes the ORB strategy to calculate breakout levels for multiple symbols. It identifies the high and low during a specified session (e.g., first 5 minutes after market open) and provides insights on whether the price is above the high (bullish), below the low (bearish), or between the range (neutral).
Additionally, the script calculates and displays the RSI values for each symbol, aiding traders in assessing momentum alongside breakout status.
Note: One can add up to 40 symbols for screening the stocks.
Key Features and Inputs:
ORB Session Time: Define a specific timeframe (e.g., "0915-0920") during which the ORB high and low are calculated. This serves as the foundation for identifying breakouts.
Multi-Symbol Screening: Screen up to 40 symbols at once, enabling you to monitor multiple opportunities without switching charts.
Breakout Validation:
Select from two methods for confirming a breakout: Close (based on closing prices) or Touch (based on intraday highs/lows).
Breakout Status Indicators:
Above High: Indicates a current bullish breakout when the price exceeds the ORB high.
Below Low: Indicates a current bearish breakout when the price falls below the ORB low.
Between Range: Indicates no breakout (price remains within the range).
RSI Integration : Calculates the RSI for each symbol to help traders evaluate momentum alongside breakout signals.
Customizable Table Display:
Position: Place the data table at the top, middle, or bottom of the chart and align it left, center, or right.
Size: Choose from multiple table size options for optimal visibility (Auto, Huge, Large, Normal, Small, Tiny).
Visual Feedback:
Green Background: Indicates a breakout happened at least once above the ORB high.
Red Background: Indicates a breakout happened at least once below the ORB low.
Gray Background: Indicates price is within the ORB range.
MonthlyReturnsTableLibrary "MonthlyReturnsTable"
showMonthlyReturns(show)
显示月度和年度收益率表格
Parameters:
show (bool) : (bool) 是否显示表格
Returns: 返回一个数组，包含是否显示表格的状态和当前月度收益率
3 Confirmation BearThe "3 Confirmation Bear" indicator is designed to help traders identify strong bearish market conditions with three key confirmations:
Price Below EMA15:
The price trading below the 15-period Exponential Moving Average (EMA) signals bearish momentum.
RSI Below a Threshold:
The Relative Strength Index (RSI) is below a user-defined threshold (default: 50), confirming a lack of bullish strength and momentum favoring the downside.
Downtrend Confirmation:
The indicator ensures the market is in a downtrend by checking for lower highs and lower lows over a specified lookback period.
Key Features:
Bearish Signals: Displays a red downward-pointing label above the price bar when all three conditions are met, making bearish setups easy to identify.
Customizable Inputs: Traders can adjust the EMA length, RSI threshold, and downtrend lookback period to suit their specific strategies.
Versatile Application: Ideal for short entries, trend validation, or avoiding long trades during bearish conditions.
How to Use:
Use the "3 Confirmation Bear" indicator to:
Confirm Short Trades: Enter bearish trades when the signal aligns with your strategy.
Validate Trends: Ensure a clear downtrend is present before committing to a position.
Filter Trades: Avoid long positions during bearish momentum.
This indicator simplifies decision-making by focusing on high-probability bearish setups. Perfect for day traders, swing traders, and those seeking clear confirmation before entering a trade.
3 Confirmation Bull This script is designed to help traders identify strong bullish conditions by providing a signal when three key confirmations align:
Price is Above the 15-period EMA:
This shows that the price is trading above a short-term average, a sign of bullish momentum.
RSI is Above a Threshold:
The Relative Strength Index (RSI) is used to measure the strength of price movements. When RSI is above the user-defined threshold (default 50), it indicates bullish momentum and avoids overbought zones.
Price is in an Uptrend:
An uptrend is confirmed when there are both higher highs and higher lows over a specified lookback period. This ensures that the price structure supports upward movement.
Key Features:
Visual Alerts: A green label appears below the price bar whenever all three conditions are met, making it easy to spot trading opportunities.
Customizable Settings: Adjust the EMA length, RSI threshold, and uptrend lookback period to match your trading style or timeframe.
Versatility: Suitable for intraday, swing, or positional trading in trending markets.
How to Use:
This indicator is ideal for traders looking to confirm a bullish setup. Use it to:
Enter Trades: As confirmation for long positions when the signal appears.
Validate Trends: Ensure conditions are favorable before committing to a trade.
Combine with Other Strategies: Enhance your trading system by pairing it with volume analysis, candlestick patterns, or support/resistance levels.
By combining these three confirmations, the script helps traders filter out false signals and focus on higher-probability setups, streamlining their decision-making process.
Custom Ratio IndicatorThis indicator allows users to compare the price ratio of two customizable trading pairs. By dividing the closing price of the first trading pair by the second, it calculates and plots the resulting ratio on the chart. It is designed for traders who want to analyze correlations or relative performance between two assets. The default pairs are ETHUSDT and BTCUSDT, and users can customize these inputs. The indicator supports high precision to ensure accurate representation of small or large ratios. Additionally, the current ratio is dynamically displayed on the chart for easy reference.
Previous Day and Current Day High/LowKey Features:
Previous Day High and Low Lines:
Displays the high (PDH) and low (PDL) levels of the previous trading day.
Allows customization of line colors, styles (solid, dashed, or dotted), and widths.
Extends these lines by a specified number of candles into the current day for better visualization.
Current Day High and Low Lines:
Displays the high (CDH) and low (CDL) levels during the current day's regular trading hours.
Customizable line attributes, including color, style, width, and extension length.
Customizable Input Options:
User-configurable settings for both the previous and current day high/low lines, grouped under respective sections for clarity.
Regular trading hours can be defined manually (default is 9:30 AM to 4:00 PM).
Ability to toggle the visibility of the lines for both the previous and current days.
Automatic Reset at the Start of a New Day:
Captures the high and low values of the completed day and resets for the new day.
Deletes old lines and labels to ensure clarity and avoid overlap.
Dynamic Updates:
Updates the current day's high and low lines and labels as new data comes in.
Adjusts previous day lines dynamically based on the user-defined number of candles to extend.
Session-Based Filtering:
Ensures the calculations and updates are restricted to the defined regular trading hours.
Code Logic:
Input Groups: The script uses grouped inputs to allow users to configure settings for previous and current day levels separately.
Line and Label Management: It creates and deletes lines and labels dynamically to prevent clutter and keep the chart organized.
Session Check: Uses the session input to determine if a bar falls within regular trading hours.
High/Low Calculation: Tracks the high and low for both the previous and current days during regular trading hours.
New Day Detection: Identifies the start of a new trading day to update previous day values and reset current day variables.
Applications:
Intraday Trading: Helps traders identify critical support and resistance levels from the previous and current days.
Trend Analysis: Provides visual cues for price movement trends across consecutive days.
Custom Visualization: With extensive customization options, traders can adapt the indicator to suit their trading style and chart aesthetics.
This script is highly configurable, making it versatile for a wide range of trading strategies and styles.
Advanced MVRV Trend AnalyzerThe "Advanced MVRV Trend Analyzer" is a sophisticated trading tool designed for the TradingView platform that enhances traditional Market Value to Realized Value (MVRV) analysis. It provides a multi-timeframe perspective of market valuation dynamics by comparing the current market price to the realized price across short-term, mid-term, and long-term cohorts. This indicator is particularly useful for cryptocurrency traders and investors who seek deeper insights into potential overvaluation or undervaluation conditions in the market.
Key Features
Multiple Timeframes:
Analyzes market conditions across three distinct timeframes: short-term (14 days), mid-term (50 days), and long-term (200 days).
Moving Averages: Includes moving averages for each MVRV ratio to smooth out short-term fluctuations and highlight longer-term trends.
Dynamic Thresholds: Provides dynamic color-coded backgrounds that highlight overvalued and undervalued market conditions based on predefined thresholds.
How to Use
Adding the Indicator:
Open your TradingView chart.
Click on "Indicators" at the top of your screen.
Search for "Advanced MVRV Trend Analyzer" and add it to your chart.
Interpreting the Indicator:
MVRV Lines: Each of the three MVRV lines (short-term, mid-term, long-term) reflects how much higher or lower the current market price is compared to the average price at which coins were last moved. A value above 1 indicates that the current price is higher than the realized price, suggesting overvaluation. Conversely, a value below 1 suggests undervaluation.
Moving Averages: The moving averages of the MVRV ratios help identify the underlying trend. If the MVRV line deviates significantly from its moving average, it might indicate a potential reversal or continuation of the current trend.
Color-coded Backgrounds:
Red background indicates an overvalued condition where the MVRV ratio exceeds 1.5, suggesting caution as the market may be overheated.
Green background indicates an undervalued condition where the MVRV ratio is below 0.5, potentially signaling a buying opportunity.
Trading Strategies:
Overvalued Zones: Consider taking profits or setting stop-loss orders when the indicator shows a prolonged red background, especially if supported by other bearish signals.
Undervalued Zones: Look for buying opportunities when the indicator shows a prolonged green background, especially if other bullish signals are present.
Combining with Other Indicators:
Enhance your analysis by combining the "Advanced MVRV Trend Analyzer" with other technical indicators such as RSI, MACD, or volume-based tools to confirm trends and signals.
Conclusion
The "Advanced MVRV Trend Analyzer" offers a nuanced view of market dynamics, providing traders with valuable insights into when a market may be approaching extremes. By utilizing this indicator, traders can better time their entries and exits, manage risk, and align their strategies with underlying market trends.
MegaGas Bollinger Bands with Divergence and Circle SignalsIndicator: MegaGas Bollinger Bands with Divergence and Circle Signals
This script provides a powerful combination of Bollinger Bands, RSI Divergence detection, and signal visualization tools. Designed with flexibility and precision in mind, it aims to assist traders in identifying trend reversals, volatility zones, and divergence-based trading opportunities. The script is well-suited for swing trading, momentum trading, and even scalping when adapted to lower timeframes.
How It Works:
Bollinger Bands:
Bollinger Bands are used to detect price volatility and overbought/oversold conditions. The script calculates:
Basis Line: A 34-period Simple Moving Average (SMA) as the core trend line.
Upper Bands: Bands positioned 1x and 2x the standard deviation above the SMA.
Lower Bands: Bands positioned 1x and 2x the standard deviation below the SMA. These levels provide dynamic support and resistance zones, highlighting breakout and reversion opportunities.
RSI Divergence Detection:
The indicator detects bullish divergence (when RSI forms a higher low while price forms a lower low) and bearish divergence (when RSI forms a lower high while price forms a higher high). These divergences often precede significant reversals or momentum shifts.
Bullish divergence is displayed with blue triangles (up).
Bearish divergence is displayed with orange triangles (down).
Buy and Sell Signals:
Circle Signals are generated when price crosses key Bollinger Bands levels:
A green circle appears when the price crosses above the lower band (potential buy signal).
A red circle appears when the price crosses below the upper band (potential sell signal).
These signals help identify potential entry and exit points for trades, particularly in trend-following or mean-reversion strategies.
Trend Reference (Moving Average):
A 50-period Simple Moving Average (SMA) is included as a trend reference, helping traders gauge the overall market direction. Use this to confirm divergence signals and avoid trades against the prevailing trend.
Why This Indicator Is Unique:
This script integrates multiple tools in a meaningful way, emphasizing contextual trading signals. Unlike standalone Bollinger Bands or RSI indicators, it introduces:
Advanced Divergence Analysis: Enhancing traditional RSI with divergence-based alerts.
Dynamic Signal Filtering: Preventing repetitive signals by introducing state-based logic for circles and divergence signals.
Trend Alignment: Combining Bollinger Bands with an SMA to filter trades based on the prevailing trend.
How to Use:
Setup:
Apply the indicator to any chart and timeframe. For swing trading, higher timeframes like 4H or 1D are recommended.
Adjust the RSI, Bollinger Bands, and Moving Average lengths to match your strategy and asset.
Signals:
Look for divergence signals (triangles) as early warnings of trend reversals. Confirm these with price action or other tools.
Use circle signals (green/red) to time potential entries/exits around Bollinger Band extremes.
Confirmation:
Combine divergence and circle signals with the SMA line to avoid counter-trend trades. For example, take bullish signals when the price is above the SMA and bearish signals when it is below.
Chart Clarity:
The script is published with a clean chart for clarity. It visualizes all signals with distinct shapes (triangles and circles) and colors, ensuring they are easily recognizable. Bollinger Bands and the SMA are plotted with transparency to avoid clutter.
Originality:
This script is a thoughtful blend of Bollinger Bands and RSI divergence detection, carefully designed to provide traders with actionable insights. It introduces state-based logic to manage repetitive signals and seamlessly integrates trend filtering, making it a valuable tool for both novice and experienced traders.
XAUUSD Weekly Gap Indicator (oberlunar)The XAUUSD Weekly Gap Indicator is a technical tool designed specifically for tracking weekly price gaps in the XAUUSD (gold) market. It identifies and visualizes the price difference between the Friday close and the Monday open, providing valuable insights into market dynamics over the weekend.
Gap Detection:
Measures the price difference between Friday's closing price and Monday's opening price.
Highlights whether the gap is bullish (Monday opens above Friday’s close) or bearish (Monday opens below Friday’s close).
Visualization:
Draws a line or rectangle to connect the Friday close and the Monday open, clearly marking the gap on the chart.
Displays an indicator label with the gap value, often in pips or points, to quantify the gap size.
Color Coding:
Green: Bullish gap (positive price movement).
Red: Bearish gap (negative price movement).
Market Sentiment:
Large gaps can indicate significant market sentiment shifts due to weekend events, such as economic reports or geopolitical news.
Support and Resistance:
Weekly gaps often act as temporary support or resistance levels, as the market may attempt to revisit or "fill" the gap.
Trading Strategies:
Gap Filling: XAUUSD often tends to "fill" these gaps, providing trading opportunities.
Continuation or Reversal: The reaction to the gap can signal whether the trend is likely to continue or reverse.
McRib Bull Market Indicator# McRib Bull Market Indicator
## Overview
The McRib Bull Market Indicator is a unique technical analysis tool that marks McDonald's McRib sandwich release dates on your trading charts. While seemingly unconventional, this indicator serves as a fascinating historical reference point for market analysis, particularly for studying periods of market expansion.
## Key Features
- Visual yellow labels marking verified McRib release dates from 2012 to 2024
- Clean, unobtrusive design that overlays on any chart timeframe
- Covers both U.S. and international releases (including UK and Australia)
## Historical Reference Points
The indicator includes release dates from:
- December 2012
- October-December 2014
- January 2015
- October 2016
- November 2017
- October 2018
- October 2019
- December 2020
- October 2022
- November 2023
- December 2024
## Usage Guide
1. Add the indicator to any chart by searching for "McRib Bull Market Indicator"
2. The indicator will automatically display yellow labels above price candles on McRib release dates
3. Use these reference points to:
- Analyze market conditions during McRib releases
- Study potential correlations between releases and market movements
- Compare market behavior across different McRib release periods
- Identify any patterns in market expansion phases coinciding with releases
## Trading Application
While initially created as a novelty indicator, it can be used to:
- Mark specific historical points of reference for broader market analysis
- Study potential market psychology around major promotional events
- Compare seasonal market patterns with recurring release dates
- Analyze market expansion phases that coincide with releases
Remember: While this indicator provides interesting historical reference points, it should be used as part of a comprehensive trading strategy rather than as a standalone trading signal.
