Harmonic Pattern Detector (75 patterns)Harmonic Pattern Detector offers a record amount of "Harmonic Patterns" in one script, with 75 different patterns detected, together with up to 99 different swing lengths.
🔶 USAGE
Harmonic Patterns are detected from several different ZigZag lines, derived from Swings with different lengths (shorter - longer term)
Depending on the settings ' Minimum/Maximum Swing Length ', the user will see more or less patterns from shorter and/or longer-term swing points.
🔹 Fibonacci Ratio
Certain patterns have only one ratio for a specific retrace/extension instead of one upper and one lower limit. In this case, we add a ' Tolerance ', which adds a percentage tolerance below/above the ratio, creating two limits.
A higher number may show more patterns but may become less valid.
Hoovering over points B, C, and D will show a tooltip with the concerning limits; adjusted limits will be seen if applicable.
Tooltips in settings will also show which patterns the Fibonacci Ratio applies to.
🔹 Triangle Area Ratio
Using Heron's formula , the triangle area is calculated after the X-Y axis is normalized.
Users can filter patterns based on the ratio of the smallest triangle to the largest triangle.
A lower Triangle Area Ratio number leads to more symmetrical patterns but may appear less frequently.
🔶 DETAILS
Harmonic patterns are based on geometric patterns, where the retracement/extension of a swing point must be located between specific Fibonacci ratios of the previous swing/leg. Different Harmonic Patterns require unique ratios to become valid patterns.
In the above example there is a valid 'Max Butterfly' pattern where:
Point B is located between 0.618 - 0.886 retracement level of the X-A leg
Point C is located between 0.382 - 0.886 retracement level of the A-B leg
Point D is located between 1.272 - 2.618 extension level of the B-C leg
Point D is located between 1.272 - 1.618 extension level of the X-A leg
Harmonic Pattern Detector uses ZigZag lines, where swing highs and swing lows alternate. Each ZigZag line is checked for valid Harmonic Patterns . When multiple types of Harmonic Patterns are valid for the same sequence, the pattern will be named after the first one found.
Different swing lengths form different ZigZag lines.
By evaluating different ZigZag lines (up to 99!), shorter—and longer-term patterns can be drawn on the same chart.
🔹 Blocks
The patterns are organized into blocks that can be toggled on or off with a single click.
When a block is enabled, the user can still select which specific patterns within that block are enabled or disabled.
🔹 Visuals
Besides color settings, labels can show pattern names or arrows at point D of the pattern.
Note this will happen 1 bar after validation because one extra bar is needed for confirmation.
An option is included to show only arrows without the patterns.
🔹 Updated Patterns
When a Swing Low is followed by a lower low or a Swing High followed by a higher high , triggering a pattern identical to a previous one except with a different point D, the pattern will be updated. The previous C-D line will be visible as a dashed line to highlight the event. Only the last dashed line is shown when this happens more than once.
🔹 Optimization
The script only verifies the last leg in the initial phase, significantly reducing the time spent on pattern validation. If this leg doesn't align with a potential Harmonic Pattern , the pattern is immediately disregarded. In the subsequent phase, the remaining patterns are quickly scrutinized to ensure the next leg is valid. This efficient process continues, with only valid patterns progressing to the next phase until all sequences have been thoroughly examined.
This process can check up to 99 ZigZag lines for 75 different Harmonic Patterns , showcasing its high capacity and versatility.
🔹 Ratios
The following table shows the different ratios used for each Harmonic Pattern .
' min ' and ' max ' are used when only one limit is provided instead of 2. This limit is given a percentage tolerance above and below, customizable by the setting ' Tolerance - Fibonacci Ratio '.
For example a ratio of 0.618 with a tolerance of 1% would result in:
an upper limit of 0.624
a lower limit of 0.612
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
| NAME PATTERN | BCD (BD) | ABC (AC) | XAB (XB) | XAD (XD) |
| | min max | min max | min max | min max |
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
| 'ABCD' | 1.272 - 1.618 | 0.618 - 0.786 | | |
| '5-0' | 0.5 *min - 0.5 *max | 1.618 - 2.24 | 1.13 - 1.618 | |
| 'Max Gartley' | 1.128 - 2.236 | 0.382 - 0.886 | 0.382 - 0.618 | 0.618 - 0.786 |
| 'Gartley' | 1.272 - 1.618 | 0.382 - 0.886 | 0.618*min - 0.618*max | 0.786*min - 0.786*max |
| 'A Gartley' | 1.618*min - 1.618*max | 1.128 - 2.618 | 0.618 - 0.786 | 1.272*min - 1.272*max |
| 'NN Gartley' | 1.128 - 1.618 | 0.382 - 0.886 | 0.618*min - 0.618*max | 0.786*min - 0.786*max |
| 'NN A Gartley' | 1.618*min - 1.618*max | 1.128 - 2.618 | 0.618 - 0.786 | 1.272*min - 1.272*max |
| 'Bat' | 1.618 - 2.618 | 0.382 - 0.886 | 0.382 - 0.5 | 0.886*min - 0.886*max |
| 'Alt Bat' | 2.0 - 3.618 | 0.382 - 0.886 | 0.382*min - 0.382*max | 1.128*min - 1.128*max |
| 'A Bat' | 2.0 - 2.618 | 1.128 - 2.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'Max Bat' | 1.272 - 2.618 | 0.382 - 0.886 | 0.382 - 0.618 | 0.886*min - 0.886*max |
| 'NN Bat' | 1.618 - 2.618 | 0.382 - 0.886 | 0.382 - 0.5 | 0.886*min - 0.886*max |
| 'NN Alt Bat' | 2.0 - 4.236 | 0.382 - 0.886 | 0.382*min - 0.382*max | 1.128*min - 1.128*max |
| 'NN A Bat' | 2.0 - 2.618 | 1.128 - 2.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'NN A Alt Bat' | 2.618*min - 2.618*max | 1.128 - 2.618 | 0.236 - 0.5 | 0.886*min - 0.886*max |
| 'Butterfly' | 1.618 - 2.618 | 0.382 - 0.886 | 0.786*min - 0.786*max | 1.272 - 1.618 |
| 'Max Butterfly' | 1.272 - 2.618 | 0.382 - 0.886 | 0.618 - 0.886 | 1.272 - 1.618 |
| 'Butterfly 113' | 1.128 - 1.618 | 0.618 - 1.0 | 0.786 - 1.0 | 1.128*min - 1.128*max |
| 'A Butterfly' | 1.272*min - 1.272*max | 1.128 - 2.618 | 0.382 - 0.618 | 0.618 - 0.786 |
| 'Crab' | 2.24 - 3.618 | 0.382 - 0.886 | 0.382 - 0.618 | 1.618*min - 1.618*max |
| 'Deep Crab' | 2.618 - 3.618 | 0.382 - 0.886 | 0.886*min - 0.886*max | 1.618*min - 1.618*max |
| 'A Crab' | 1.618 - 2.618 | 1.128 - 2.618 | 0.276 - 0.446 | 0.618*min - 0.618*max |
| 'NN Crab' | 2.236 - 4.236 | 0.382 - 0.886 | 0.382 - 0.618 | 1.618*min - 1.618*max |
| 'NN Deep Crab' | 2.618 - 4.236 | 0.382 - 0.886 | 0.886*min - 0.886*max | 1.618*min - 1.618*max |
| 'NN A Crab' | 1.128 - 2.618 | 1.128 - 2.618 | 0.236 - 0.447 | 0.618*min - 0.618*max |
| 'NN A Deep Crab' | 1.128*min - 1.128*max | 1.128 - 2.618 | 0.236 - 0.382 | 0.618*min - 0.618*max |
| 'Cypher' | 1.272 - 2.00 | 1.13 - 1.414 | 0.382 - 0.618 | 0.786*min - 0.786*max |
| 'New Cypher' | 1.272 - 2.00 | 1.414 - 2.14 | 0.382 - 0.618 | 0.786*min - 0.786*max |
| 'Anti New Cypher' | 1.618 - 2.618 | 0.467 - 0.707 | 0.5 - 0.786 | 1.272*min - 1.272*max |
| 'Shark 1' | 1.618 - 2.236 | 1.128 - 1.618 | 0.382 - 0.618 | 0.886*min - 0.886*max |
| 'Shark 1 Alt' | 1.618 - 2.618 | 0.618 - 0.886 | 0.446 - 0.618 | 1.128*min - 1.128*max |
| 'Shark 2' | 1.618 - 2.236 | 1.128 - 1.618 | 0.382 - 0.618 | 1.128*min - 1.128*max |
| 'Shark 2 Alt' | 1.618 - 2.618 | 0.618 - 0.886 | 0.446 - 0.618 | 0.886*min - 0.886*max |
| 'Leonardo' | 1.128 - 2.618 | 0.382 - 0.886 | 0.5*min - 0.5*max | 0.786*min - 0.786*max |
| 'NN A Leonardo' | 2.0*min - 2.0*max | 1.128 - 2.618 | 0.382 - 0.886 | 1.272*min - 1.272*max |
| 'Nen Star' | 1.272 - 2.0 | 1.414 - 2.14 | 0.382 - 0.618 | 1.272*min - 1.272*max |
| 'Anti Nen Star' | 1.618 - 2.618 | 0.467 - 0.707 | 0.5 - 0.786 | 0.786*min - 0.786*max |
| '3 Drives' | 1.272 - 1.618 | 0.618 - 0.786 | 1.272 - 1.618 | 1.618 - 2.618 |
| 'A 3 Drives' | 0.618 - 0.786 | 1.272 - 1.618 | 0.618 - 0.786 | 0.13 - 0.886 |
| '121' | 0.382 - 0.786 | 1.128 - 3.618 | 0.5 - 0.786 | 0.382 - 0.786 |
| 'A 121' | 1.272 - 2.0 | 0.5 - 0.786 | 1.272 - 2.0 | 1.272 - 2.618 |
| '121 BG' | 0.618 - 0.707 | 1.128 - 1.733 | 0.5 - 0.577 | 0.447 - 0.786 |
| 'Black Swan' | 1.128 - 2.0 | 0.236 - 0.5 | 1.382 - 2.618 | 1.128 - 2.618 |
| 'White Swan' | 0.5 - 0.886 | 2.0 - 4.237 | 0.382 - 0.786 | 0.238 - 0.886 |
| 'NN White Swan' | 0.5 - 0.886 | 2.0 - 4.236 | 0.382 - 0.724 | 0.382 - 0.886 |
| 'Sea Pony' | 1.618 - 2.618 | 0.382 - 0.5 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Navarro 200' | 0.886 - 3.618 | 0.886 - 1.128 | 0.382 - 0.786 | 0.886 - 1.128 |
| 'May-00' | 0.5 - 0.618 | 1.618 - 2.236 | 1.128 - 1.618 | 0.5 - 0.618 |
| 'SNORM' | 0.9 - 1.1 | 0.9 - 1.1 | 0.9 - 1.1 | 0.618 - 1.618 |
| 'COL Poruchik' | 1.0 *min - 1.0 *max | 0.382 - 2.618 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Henry – David' | 0.618 - 0.886 | 0.44 - 0.618 | 0.128 - 2.0 | 0.618 - 1.618 |
| 'DAVID VM 1' | 1.618 - 1.618 | 0.382*min - 0.382*max | 0.128 - 1.618 | 0.618 - 3.618 |
| 'DAVID VM 2' | 1.618 - 1.618 | 0.382*min - 0.382*max | 1.618 - 3.618 | 0.618 - 7.618 |
| 'Partizan' | 1.618*min - 1.618*max | 0.382*min - 0.382*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2' | 1.618 - 2.236 | 1.128 - 1.618 | 0.128 - 3.618 | 1.618 - 3.618 |
| 'Partizan 2.1' | 1.618*min - 1.618*max | 1.128*min - 1.128*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.2' | 2.236*min - 2.236*max | 1.128*min - 1.128*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.3' | 1.618*min - 1.618*max | 0.618 - 1.618 | 0.128 - 3.618 | 0.618 - 3.618 |
| 'Partizan 2.4' | 2.236*min - 2.236*max | 1.618*min - 1.618*max | 0.128 - 3.618 | 0.618 - 3.618 |
| 'TOTAL' | 1.272 - 3.618 | 0.382 - 2.618 | 0.276 - 0.786 | 0.618 - 1.618 |
| 'TOTAL NN' | 1.272 - 4.236 | 0.382 - 2.618 | 0.236 - 0.786 | 0.618 - 1.618 |
| 'TOTAL 1' | 1.272 - 2.618 | 0.382 - 0.886 | 0.382 - 0.786 | 0.786 - 0.886 |
| 'TOTAL 2' | 1.618 - 3.618 | 0.382 - 0.886 | 0.382 - 0.786 | 1.128 - 1.618 |
| 'TOTNN 2NN' | 1.618 - 4.236 | 0.382 - 0.886 | 0.382 - 0.786 | 1.128 - 1.618 |
| 'TOTAL 3' | 1.272 - 2.618 | 1.128 - 2.618 | 0.276 - 0.618 | 0.618 - 0.886 |
| 'TOTNN 3NN' | 1.272 - 2.618 | 1.128 - 2.618 | 0.236 - 0.618 | 0.618 - 0.886 |
| 'TOTAL 4' | 1.618 - 2.618 | 1.128 - 2.618 | 0.382 - 0.786 | 1.128 - 1.272 |
| 'BG 1' | 2.618*min - 2.618*max | 0.382*min - 0.382*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 2' | 2.237*min - 2.237*max | 0.447*min - 0.447*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 3' | 2.0 *min - 2.0 *max | 0.5 *min - 0.5 *max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 4' | 1.618*min - 1.618*max | 0.618*min - 0.618*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 5' | 1.414*min - 1.414*max | 0.707*min - 0.707*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 6' | 1.272*min - 1.272*max | 0.786*min - 0.786*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 7' | 1.171*min - 1.171*max | 0.854*min - 0.854*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
| 'BG 8' | 1.128*min - 1.128*max | 0.886*min - 0.886*max | 0.128 - 0.886 | 1.0 *min - 1.0 *max |
|-------------------|------------------------|------------------------|-----------------------|-----------------------|
🔶 SETTINGS
🔹 Swings
Minimum Swing Length: Minimum length used for the swing detection.
Maximum Swing Length: Maximum length used for the swing detection.
🔹 Patterns
Toggle Pattern Block
Toggle separate pattern in each Pattern Block
🔹 Tolerance
Fibonacci Ratio: Adds a percentage tolerance below/above the ratio when only one ratio applies, creating two limits.
Triangle Area Ratio: Filters patterns based on the ratio of the smallest triangle to the largest triangle.
🔹 Display
Labels: Display Pattern Names, Arrows or nothing
Patterns: Display or not
Last Line: Display previous C-D line when updated
🔹 Style
Colors: Pattern Lines/Names/Arrows - background color of patterns
Text Size: Text Size of Pattern Names/Arrows
🔹 Calculation
Calculated Bars: Allows the usage of fewer bars for performance/speed improvement
Indicators and strategies
Trend AnalyzerThe Trend Analyzer is designed to help traders identify and analyze market trends. Here's a simple explanation of its logic:
Main Features
Customizable Moving Average: The indicator plots a moving average on the chart. Users can choose from various types (SMA, EMA, WMA, VWMA, HMA, SMMA, TMA) and set the period. This flexibility allows traders to adapt the indicator to different trading styles and timeframes.
Trend Detection: It determines whether the current price is above or below the moving average, providing a clear visual representation of the current trend direction.
Sequence Counter: The indicator counts consecutive candles above or below the moving average. This feature helps traders identify trend strength and persistence, which can be crucial for timing entries and exits.
Statistical Analysis: It calculates probabilities for the next candle's direction based on historical data. This unique feature gives traders a statistical edge in predicting short-term price movements.
Visual Candle Counter: An optional feature that displays the number of consecutive candles above or below the moving average directly on the chart, enhancing visual analysis.
How It Works
The indicator continuously tracks the position of price relative to the chosen moving average.
It maintains a count of how many candles in a row have been above or below the moving average.
For each sequence length, it records historical data on how often the trend continued or reversed in the past.
This historical data is used to calculate probabilities for the next candle's direction, providing a statistical insight into potential price movements.
The indicator displays this information directly on the chart, allowing for quick and easy interpretation.
Practical Applications
Trend Confirmation: Use the indicator to confirm the strength and direction of current trends.
Entry and Exit Signals: The sequence counter and probability calculations can help in timing trades more effectively.
Risk Management: Understanding the statistical likelihood of trend continuation can aid in setting appropriate stop-loss and take-profit levels.
Market Analysis: The indicator provides valuable insights into market behavior and can be used for both short-term and long-term analysis.
While the Trend Analyzer provides valuable insights based on historical data and statistical analysis, it's important to remember that past performance does not guarantee future results. The financial markets are complex and influenced by numerous factors. This indicator should be used as part of a comprehensive trading strategy and not as a sole decision-making tool. Always practice proper risk management and consider seeking advice from financial professionals before making investment decisions.
Fibonacci Bands [BigBeluga]The Fibonacci Band indicator is a powerful tool for identifying potential support, resistance, and mean reversion zones based on Fibonacci ratios. It overlays three sets of Fibonacci ratio bands (38.2%, 61.8%, and 100%) around a central trend line, dynamically adapting to price movements. This structure enables traders to track trends, visualize potential liquidity sweep areas, and spot reversal points for strategic entries and exits.
🔵 KEY FEATURES & USAGE
Fibonacci Bands for Support & Resistance:
The Fibonacci Band indicator applies three key Fibonacci ratios (38.2%, 61.8%, and 100%) to construct dynamic bands around a smoothed price. These levels often act as critical support and resistance areas, marked with labels displaying the percentage and corresponding price. The 100% band level is especially crucial, signaling potential liquidity sweep zones and reversal points.
Mean Reversion Signals at 100% Bands:
When price moves above or below the 100% band, the indicator generates mean reversion signals.
Trend Detection with Midline:
The central line acts as a trend-following tool: when solid, it indicates an uptrend, while a dashed line signals a downtrend. This adaptive midline helps traders assess the prevailing market direction while keeping the chart clean and intuitive.
Extended Price Projections:
All Fibonacci bands extend to future bars (default 30) to project potential price levels, providing a forward-looking perspective on where price may encounter support or resistance. This feature helps traders anticipate market structure in advance and set targets accordingly.
Liquidity Sweep:
--
-Liquidity Sweep at Previous Lows:
The price action moves below a previous low, capturing sell-side liquidity (stop-losses from long positions or entries for breakout traders).
The wick suggests that the price quickly reversed, leaving a failed breakout below support.
This is a classic liquidity grab, often indicating a bullish reversal .
-Liquidity Sweep at Previous Highs:
The price spikes above a prior high, sweeping buy-side liquidity (stop-losses from short positions or breakout entries).
The wick signifies rejection, suggesting a failed breakout above resistance.
This is a bearish liquidity sweep , often followed by a mean reversion or a downward move.
Display Customization:
To declutter the chart, traders can choose to hide Fibonacci levels and only display overbought/oversold zones along with the trend-following midline and mean reversion signals. This option enables a clearer focus on key reversal areas without additional distractions.
🔵 CUSTOMIZATION
Period Length: Adjust the length of the smoothed moving average for more reactive or smoother bands.
Channel Width: Customize the width of the Fibonacci channel.
Fibonacci Ratios: Customize the Fibonacci ratios to reflect personal preference or unique market behaviors.
Future Projection Extension: Set the number of bars to extend Fibonacci bands, allowing flexibility in projecting price levels.
Hide Fibonacci Levels: Toggle the visibility of Fibonacci levels for a cleaner chart focused on overbought/oversold regions and midline trend signals.
Liquidity Sweep: Toggle the visibility of Liquidity Sweep points
The Fibonacci Band indicator provides traders with an advanced framework for analyzing market structure, liquidity sweeps, and trend reversals. By integrating Fibonacci-based levels with trend detection and mean reversion signals, this tool offers a robust approach to navigating dynamic price action and finding high-probability trading opportunities.
Volume & MACD SignalThe Volume & MACD Signal Indicator is a powerful tool designed to assist traders in identifying optimal entry and exit points based on the combination of trading volume and MACD momentum.
Key Features:
Buy Signal:
Triggered when trading volume is above its moving average, indicating increased market activity.
Confirmed by the MACD line crossing above the Signal line, signaling bullish momentum.
Sell Signal:
Triggered when trading volume is above its moving average, showing strong participation.
Confirmed by the MACD line crossing below the Signal line, indicating bearish momentum.
Customizable Parameters:
Adjust volume moving average length and MACD settings to suit your trading style and market conditions.
Clear Visualization:
"BUY" labels appear below the bars for bullish signals, while "SELL" labels appear above the bars for bearish signals.
Includes optional MACD and Signal line plots for reference.
How It Helps:
This indicator blends volume analysis with momentum signals, ensuring trades are supported by both market activity and directional strength. Whether you’re a swing trader, day trader, or long-term investor, this tool enhances your decision-making process by combining key metrics into one streamlined indicator.
Unlock the power of market momentum and volume in your trading strategy with this intuitive and easy-to-use indicator!
Fibonacci Snap Tool [TradersPro]
OVERVIEW
The Fibonacci Snap tool automatically snaps to the swing high and swing low of the price data shown on the chart display. Fibonacci retracement levels can be used for entry, exit, or as a confirmation of trend continuation.
If the swing high on the chart comes before the swing low, the price is in a downtrend.If the swing high comes after the swing low, the price is in an uptrend.
We call the 23.60% Fibonacci level the momentum zone of the trend. Price in a solid trend, either up or down, will typically hold the 23.60% Fibonacci level as support (demand) in an uptrend or resistance (supply) in a downtrend.
Deeper Fibonacci levels of 38.20%, 50.00%, and 61.80% are corrective supply/demand zones. As price moves against the found trend, it can move into this range block we call the corrective zone.
Fibonacci retracement levels are used to identify potential supply/demand areas where price could reverse or consolidate. These levels are based on key ratios derived from the Fibonacci sequence, and we only use the core 23.60%, 38.20%, 50.00%, and 61.80% ratios.
CONCEPTS
Price action moves in trend cycles, these retracement levels help traders measure proportional relationships between the high/low swings in the price trend.
When a price trend is moving against the trend, traders can find opportunities to trade with the current trend at key Fibonacci levels. Fibonacci levels can be used to anticipate where price might find supply/demand imbalance and continue moving in the trend direction.
Traders apply the indicator by selecting a window of price they want to analyze in the chart display, and the Fibonacci Snap tool will snap to the high and low of the visible price display.
The Intent and Use of This Tool
The 23.60% level acts as a momentum or continuation of trend. The 38.20% to 61.80% range are corrective zones of the trend.
The 61.80% level, also known as the golden ratio (Google the term “Golden Ratio”; it's fun), can often represent the location of supply/demand imbalance.
In an uptrend, it can represent the area of no more selling supply, and the balance can shift to buying demand. In a downtrend, it can represent the area of no more buying demand and the balance can shift to selling supply.
When used with the Momentum Zones indicator, these two tools create a powerful combination for traders to find, implement, and manage trades.
BigBeluga - Smart Money ConceptsBigBeluga - Smart Money Concepts
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Ultra Market StructureThe Ultra Market Structure indicator detects key market structure breaks, such as Break of Structure (BoS) and Change of Character (CHoCH), to help identify trend reversals. It plots lines and labels on the chart to visualize these breakpoints with alerts for important signals.
Introduction
This script is designed to help traders visualize important market structure events, such as trend breaks and reversals, using concepts like Break of Structure (BoS) and Change of Character (CHoCH). The indicator highlights internal and external price levels where the market shifts direction. It offers clear visual signals and alerts to keep traders informed of potential changes in the market trend.
Detailed Description
The indicator focuses on detecting "market structure breaks," which occur when the price moves past significant support or resistance levels, suggesting a potential reversal or continuation of the trend.
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Type of structure
Internal Structure: Focuses on smaller, shorter-term price levels within the current market trend.
External Structure: Focuses on larger, longer-term price levels that may indicate more significant shifts in the market.
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Key events
Break of Structure (BoS): A market structure break where the price surpasses a previous high (bullish BoS) or low (bearish BoS).
Change of Character (CHoCH): A shift in market behavior when the price fails to continue in the same direction, indicating a possible trend reversal.
Once a break or shift is detected, the script plots lines and labels on the chart to visually mark the breakpoints.
It also provides alerts when a BoS or CHoCH occurs, keeping traders informed in real-time.
The indicator can color the background and candles based on the market structure, making it easy to identify the current trend.
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Special feature
At news events or other momentum pushes most structure indicators will go into "sleep mode" because of too far away structure highs/lows. This indicator has a structure reset feature to solve this issue.
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Detects Break of Structure (BoS) and Change of Character (CHoCH) signals.
Marks internal and external support/resistance levels where market trends change.
Provides visual cues (lines, labels) and real-time alerts for structure breaks.
Offers background and candle color customization to highlight market direction.
jebreil mahmoudiComprehensive Script Explanation
This Pine Script integrates various features aimed at providing real-time insights for traders, with a focus on market opening dynamics, daily levels, Fibonacci retracement, swing highs and lows, and multi-asset comparisons. Below is a detailed breakdown:
1. Market Opening Candle and Daily High/Low Levels:
Market Open Identification: The script identifies the first candle of the market session (using the user's local time settings), marking it as the reference point for further analysis.
High/Low for the First 18 Candles: The highest and lowest price points between the market open (first candle) and the 18th candle after it are tracked. This allows traders to observe key support and resistance levels based on the early price action.
Previous Day Close: The close of the previous day is plotted as a reference for comparing how the current session opens relative to the previous session's close.
2. Plotting Fibonacci Levels:
Fibonacci retracement levels are drawn based on the previous day’s price action. The key Fibonacci levels, such as 50% and 70.5%, are used to identify possible support and resistance zones. These levels are crucial for predicting potential price retracements or reversals.
3. Swing Highs and Lows:
Swing Highs and Swing Lows are detected automatically. These points are marked on the chart to help traders identify potential turning points in the market.
The Swing Highs and Lows give insights into where price may change direction and help traders understand the market’s overall trend.
4. RSI for Multiple Assets:
RSI (Relative Strength Index) indicators for Bitcoin, Ethereum, and the S&P 500 are plotted near the chart. This allows traders to compare the relative strength of each asset and spot overbought or oversold conditions.
The RSI of each asset is displayed near the price chart, making it easier to track momentum shifts across different markets.
5. ADX for Trend Strength:
The ADX (Average Directional Index) indicator is used to gauge the strength of the trend. When the market is trending strongly, the candles change color to reflect this trend, signaling traders to align their trades with the prevailing market direction.
A strong trend is indicated by a high ADX value, while a weak or consolidating market shows a low ADX value.
6. Support/Resistance Levels Based on Market Structure:
The script automatically draws support and resistance lines based on recent price action and Fibonacci levels. These lines help traders quickly spot key levels for potential entries or exits, and provide an easy-to-follow roadmap for price targets.
By analyzing previous price highs and lows, the script adjusts support and resistance zones as the market evolves.
7. Stop-Hunt Zones:
The script identifies Stop-Hunt Zones, areas where the price is likely to trigger stop losses before reversing. These zones often represent areas where liquidity is hunted, providing traders with an opportunity to anticipate potential reversals or breakouts.
8. Cross-Asset Comparison:
By comparing multiple assets (such as Bitcoin, Ethereum, and S&P 500), traders can see how the performance of one asset correlates with others. This is particularly useful when trading cryptocurrencies or other assets that often correlate with each other.
Cross-asset analysis helps traders make decisions based not just on one asset but also considering broader market movements, leading to more informed trading decisions.
9. Daily High and Low Levels:
The script calculates and displays the high and low levels of the current trading day, as well as previous day's high/low levels. These levels provide insight into where the price might reverse or continue its movement.
Daily High/Low levels act as key support and resistance markers, helping traders make decisions based on how current prices compare to these critical price levels.
10. RSI Coloring:
The RSI value changes color based on its level: red when the RSI is nearing overbought (near 65), green when nearing oversold (near 35), and blue in neutral conditions. This provides traders with quick visual cues on the strength and direction of market momentum.
11. Additional Indicators for Enhanced Analysis:
Bollinger Bands: These are plotted with high contrast colors for clear visibility. Bollinger Bands help traders assess market volatility and overbought/oversold conditions.
Moving Averages (EMA50, SMA100, EMA200): These averages are plotted to identify the overall trend direction and to support entry and exit decisions based on crossovers.
Long/Short Labels: Small labels indicating Long or Short positions are shown on the chart, offering immediate trade setup insights.
Why This Script Is Valuable:
Efficient Decision-Making: The script helps traders save time by automatically identifying key levels such as the first candle's high/low, Fibonacci levels, and daily highs/lows. This allows for faster decision-making.
Comprehensive Market Overview: The multi-asset analysis (Bitcoin, Ethereum, S&P 500) provides traders with a broader view of market sentiment, enabling them to spot correlations and adjust their strategies accordingly.
Real-Time Intraday Analysis: This script is perfect for intraday traders, as it gives a real-time view of market movements, especially the first 18 candles after the market open.
Support for Volatile Markets: The script is well-suited for markets like cryptocurrencies, which are highly volatile. By marking key price levels, stop-hunt zones, and using momentum indicators like RSI and ADX, traders can adapt quickly to volatile conditions.
Trend Identification: The ADX indicator, combined with moving averages and RSI, makes it easier for traders to identify strong trends, giving them confidence in taking positions aligned with the prevailing market direction.
By incorporating analysis from the market opening candle through to daily high/low points, and considering Fibonacci levels, RSI, and ADX indicators, this script provides a robust and holistic view of the market, making it ideal for active traders in both volatile and trending markets.
ADM Indicator [CHE] Comprehensive Description of the Three Market Phases for TradingView
Introduction
Financial markets often exhibit patterns that reflect the collective behavior of participants. Recognizing these patterns can provide traders with valuable insights into potential future price movements. The ADM Indicator is designed to help traders identify and capitalize on these patterns by detecting three primary market phases:
1. Accumulation Phase
2. Manipulation Phase
3. Distribution Phase
This indicator places labels on the chart to signify these phases, aiding traders in making informed decisions. Below is an in-depth explanation of each phase, including how the ADM Indicator detects them.
1. Accumulation Phase
Definition
The Accumulation Phase is a period where informed investors or institutions discreetly purchase assets before a potential price increase. During this phase, the price typically moves within a confined range between established highs and lows.
Characteristics
- Price Range Bound: The asset's price stays within the previous high and low after a timeframe change.
- Low Volatility: Minimal price movement indicates a balance between buyers and sellers.
- Steady Volume: Trading volume may remain relatively constant or show slight increases.
- Market Sentiment: General market interest is low, as the accumulation is not yet apparent to the broader market.
Detection with ADM Indicator
- Criteria: An accumulation is detected when the price remains within the previous high and low after a timeframe change.
- Indicator Action: At the end of the period, if accumulation has occurred, the indicator places a label "Accumulation" on the chart.
- Visual Cues: A yellow semi-transparent background highlights the accumulation phase, enhancing visual recognition.
Implications for Traders
- Entry Opportunity: Consider preparing for potential long positions before a possible upward move.
- Risk Management: Use tight stop-loss orders below the support level due to the defined trading range.
2. Manipulation Phase
Definition
The Manipulation Phase, also known as the Shakeout Phase, occurs when dominant market players intentionally move the price to trigger stop-loss orders and create panic among less-informed traders. This action generates liquidity and better entry prices for large positions.
Characteristics
- False Breakouts: The price moves above the previous high or below the previous low but quickly reverses.
- Increased Volatility: Sharp price movements occur without fundamental reasons.
- Stop-Loss Hunting: The price targets common stop-loss areas, triggering them before reversing.
- Emotional Trading: Retail traders may react impulsively, leading to poor trading decisions.
Detection with ADM Indicator
- Manipulation Up:
- Criteria: Detected when the price rises above the previous high and then falls back below it.
- Indicator Action: Places a label "Manipulation Up" on the chart at the point of detection.
- Manipulation Down:
- Criteria: Detected when the price falls below the previous low and then rises back above it.
- Indicator Action: Places a label "Manipulation Down" on the chart at the point of detection.
- Visual Cues:
- Manipulation Up: Blue background highlights the phase.
- Manipulation Down: Orange background highlights the phase.
Implications for Traders
- Caution Advised: Be wary of false signals and avoid overreacting to sudden price changes.
- Preparation for Next Phase: Use this phase to anticipate potential distribution and adjust strategies accordingly.
3. Distribution Phase
Definition
The Distribution Phase occurs when the institutions or informed investors who accumulated positions start selling to the general market at higher prices. This phase often follows a Manipulation Phase and may signal an impending trend reversal.
Characteristics
- Price Reversal: The price moves in the opposite direction of the prior manipulation.
- High Trading Volume: Increased selling activity as large players offload positions.
- Trend Weakening: The previous trend loses momentum, indicating a potential shift.
- Market Sentiment Shift: Optimism fades, and uncertainty or pessimism may emerge.
Detection with ADM Indicator
- Distribution Up:
- Criteria: Detected after a verified Manipulation Up when the price subsequently falls below the previous low.
- Indicator Action: Places a label "Distribution Up" on the chart.
- Distribution Down:
- Criteria: Detected after a verified Manipulation Down when the price subsequently rises above the previous high.
- Indicator Action: Places a label "Distribution Down" on the chart.
- Visual Cues:
- Distribution Up: Purple background highlights the phase.
- Distribution Down: Maroon background highlights the phase.
Implications for Traders
- Exit Signals: Consider closing long positions if in a Distribution Up phase.
- Short Selling Opportunities: Potential to enter short positions anticipating a downtrend.
Using the ADM Indicator on TradingView
Indicator Overview
The ADM Indicator automates the detection of Accumulation, Manipulation, and Distribution phases by analyzing price movements relative to previous highs and lows on a selected timeframe. It provides visual cues and labels on the chart, helping traders quickly identify the current market phase.
Features
- Multi-Timeframe Analysis: Choose from auto, multiplier, or manual timeframe settings.
- Visual Labels: Clear labeling of market phases directly on the chart.
- Background Highlighting: Distinct background colors for each phase.
- Customizable Settings: Adjust colors, styles, and display options.
- Period Separators: Optional separators delineate different timeframes.
Interpreting the Indicator
1. Accumulation Phase
- Detection: Price stays within the previous high and low after a timeframe change.
- Label: "Accumulation" placed at the period's end if detected.
- Background: Yellow semi-transparent color.
- Action: Prepare for potential long positions.
2. Manipulation Phase
- Detection:
- Manipulation Up: Price rises above previous high and then falls back below.
- Manipulation Down: Price falls below previous low and then rises back above.
- Labels: "Manipulation Up" or "Manipulation Down" placed at detection.
- Background:
- Manipulation Up: Blue color.
- Manipulation Down: Orange color.
- Action: Exercise caution; avoid impulsive trades.
3. Distribution Phase
- Detection:
- Distribution Up: After a Manipulation Up, price falls below previous low.
- Distribution Down: After a Manipulation Down, price rises above previous high.
- Labels: "Distribution Up" or "Distribution Down" placed at detection.
- Background:
- Distribution Up: Purple color.
- Distribution Down: Maroon color.
- Action: Consider exiting positions or entering counter-trend trades.
Configuring the Indicator
- Timeframe Type: Select Auto, Multiplier, or Manual for analysis timeframe.
- Multiplier: Set a custom multiplier when using "Multiplier" type.
- Manual Resolution: Define a specific timeframe with "Manual" option.
- Separator Settings: Customize period separators for visual clarity.
- Label Display Options: Choose to display all labels or only the most recent.
- Visualization Settings: Adjust colors and styles for personal preference.
Practical Tips
- Combine with Other Analysis Tools: Use alongside volume indicators, trend lines, or other technical tools.
- Backtesting: Review historical data to understand how the indicator signals would have impacted past trades.
- Stay Informed: Keep abreast of market news that might affect price movements beyond technical analysis.
- Risk Management: Always employ stop-loss orders and position sizing strategies.
Conclusion
The ADM Indicator is a valuable tool for traders seeking to understand and leverage market phases. By detecting Accumulation, Manipulation, and Distribution phases through specific price action criteria, it provides actionable insights into market dynamics.
Understanding the precise conditions under which each phase is detected empowers traders to make more informed decisions. Whether preparing for potential breakouts during accumulation, exercising caution during manipulation, or adjusting positions during distribution, the ADM Indicator aids in navigating the complexities of the financial markets.
Disclaimer:
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
This indicator is inspired by the Super 6x Indicators: RSI, MACD, Stochastic, Loxxer, CCI, and Velocity . A special thanks to Loxx for their relentless effort, creativity, and contributions to the TradingView community, which served as a foundation for this work.
Best regards Chervolino
Overview of the Timeframe Levels in the `autotimeframe()` Function
The `autotimeframe()` function automatically adjusts the higher timeframe based on the current chart timeframe. Here are the specific timeframe levels used in the function:
- Current Timeframe ≤ 1 Minute
→ Higher Timeframe: 240 Minutes (4 Hours)
- Current Timeframe ≤ 5 Minutes
→ Higher Timeframe: 1 Day
- Current Timeframe ≤ 1 Hour
→ Higher Timeframe: 3 Days
- Current Timeframe ≤ 4 Hours
→ Higher Timeframe: 7 Days
- Current Timeframe ≤ 12 Hours
→ Higher Timeframe: 1 Month
- Current Timeframe ≤ 1 Day
→ Higher Timeframe: 3 Months
- Current Timeframe ≤ 7 Days
→ Higher Timeframe: 6 Months
- For All Higher Timeframes (over 7 Days)
→ Higher Timeframe: 12 Months
Summary:
The function assigns a corresponding higher timeframe based on the current timeframe to optimize the analysis:
- 1 Minute or Less → 4 Hours
- Up to 5 Minutes → 1 Day
- Up to 1 Hour → 3 Days
- Up to 4 Hours → 7 Days
- Up to 12 Hours → 1 Month
- Up to 1 Day → 3 Months
- Up to 7 Days → 6 Months
- Over 7 Days → 12 Months
This automated adjustment ensures that the indicator works effectively across different chart timeframes without requiring manual changes.
Super ScriptKey Features
Opening Range Breakout (ORB):
Defines the first 10-minute candle range after market open (high and low).
Tracks breakout conditions where the price opens above or below the range.
VWAP Integration:
Calculates the Volume-Weighted Average Price (VWAP) and its slope to gauge intraday trend direction.
Used in conjunction with breakout alerts to validate trend strength.
Bollinger Bands (BB):
Implements 6-period Bollinger Bands with a multiplier of 2.
Determines the position of the middle Bollinger Band relative to the opening range to validate breakouts.
Alerts for Buy/Sell:
Triggers alerts when conditions for breakouts align with VWAP slope and Bollinger Band positioning.
Ensures alerts only occur within the first hour of trading to target high-volatility periods.
ATR-Based Trailing Stops:
Uses Average True Range (ATR) to calculate dynamic trailing stop levels.
Displays trailing stop values as a reference for position management.
ADX Signals:
Detects strong directional movements using the Average Directional Index (ADX).
Plots "Strong Signal" icons when ADX crosses above 20.
Signal Icons:
Displays BUY and SELL icons on the chart for visual clarity.
Uses white triangles for bearish signals and orange labels for BUY/SELL conditions.
How It Works
Market Open Setup:
Captures the high and low of the first 10-minute candle after the market opens (9:30 AM EST).
Monitors the price movement relative to this range.
Breakout Conditions:
Detects if the current candle opens above or below the first 10-minute candle range.
Confirms breakout signals using:
Positive VWAP slope (uptrend validation).
Middle Bollinger Band position (above or below the breakout range).
Dynamic Alerts:
Sends "Price Break Above" or "Price Break Below" alerts only once per day for validated conditions.
Combines multiple indicators to reduce false signals.
Position Tracking:
Tracks BUY/SELL positions based on the ATR trailing stop levels.
Adjusts the stop dynamically as the price moves.
ADX Strong Signals:
Highlights periods of strong directional trends.
Adds white triangle icons to emphasize bearish opportunities.
Visualization
Horizontal Lines: The high and low of the first 10-minute candle are plotted as white lines.
Middle Bollinger Band: A blue line displays the trend of the middle Bollinger Band.
Signal Icons: BUY and SELL signals are marked with small labels or triangles for quick interpretation.
ADX Triangles: White triangles signify strong ADX-based signals below the price.
Usage Tips
Trade During High Volatility:
Focus on the first hour of trading, where the script's alerts are most effective.
Set Alerts:
Activate TradingView alerts to stay informed when breakout or ADX conditions are met.
This script is ideal for day traders seeking precise entry points and swing traders looking for trend confirmation. With integrated breakout logic and strong trend detection, the Super Script enhances efficiency and confidence in trading decisions.
Venmo @Matt-Hierseman if you want to tip your script-tender. CHEERS and happy Trading!
MA & RSI dengan Penanda CrossingScript ini menggabungkan analisis teknikal menggunakan Moving Average (MA) dan Relative Strength Index (RSI) dengan fitur penanda crossing antara MA 50 dan MA 200. Indikator ini membantu trader untuk:
Mengidentifikasi Tren Utama:
MA 50 dan MA 200 digunakan untuk menganalisis tren jangka pendek dan jangka panjang.
Penanda crossing akan memberikan sinyal bullish (golden cross) atau bearish (death cross).
Konfirmasi Momentum:
RSI digunakan untuk melihat kekuatan dan momentum harga, serta mendeteksi kondisi overbought atau oversold.
Visualisasi yang Jelas:
Penanda visual pada chart untuk setiap crossing MA.
Level RSI diberi warna sesuai kondisi overbought/oversold untuk mempermudah analisis.
Indikator ini cocok untuk trader yang menggunakan strategi berbasis tren dan momentum, terutama saat menentukan momen masuk atau keluar pasar.
Swing Trading & Opciones (RSI y VIX Dinámicos)Descripción para Publicar el Indicador: Swing Trading & Opciones
El indicador Swing Trading & Opciones está diseñado para traders que buscan identificar tendencias clave y niveles críticos en el mercado. Combina condiciones técnicas relevantes y personalizables para adaptarse a diferentes estrategias de swing trading y trading de opciones. Su funcionalidad principal incluye:
Características Principales:
1. Colores de Velas Personalizables:
• Azul: Si el RSI está por debajo de 33, indicando un posible sobreventa.
• Lime (Verde Intenso): Si las EMAs diarias (20 > 50) y semanales (10 > 20) confirman una tendencia alcista fuerte.
• Verde: Si solo la EMA semanal (10 > 20) confirma una tendencia alcista moderada.
• Rojo: Para condiciones que confirman una posible tendencia bajista.
2. Alerta Visual del VIX:
• Muestra un triángulo naranja debajo de las velas si el VIX (volatilidad implícita del mercado) supera un umbral configurable por el usuario, advirtiendo sobre posibles aumentos de incertidumbre o riesgo en el mercado.
3. Configuraciones Personalizables:
• Cambia los colores de las velas para adaptarse a tus preferencias visuales.
• Ajusta el umbral del VIX según tus niveles de tolerancia al riesgo.
4. Leyenda en el Gráfico:
• Una tabla explicativa directamente en el gráfico con los colores y sus significados para facilitar la interpretación.
Beneficios del Indicador:
• Tendencias Claras: Identifica visualmente las condiciones alcistas y bajistas con colores de velas claros y dinámicos.
• Alertas de Riesgo: Resalta posibles momentos de alta volatilidad en el mercado cuando el VIX supera niveles críticos.
• Personalización Total: Adapta los colores y condiciones clave a tu estilo de trading.
• Ideal para Swing Trading y Opciones: Diseñado específicamente para traders que buscan aprovechar tendencias y evaluar niveles clave de volatilidad.
Cómo Usarlo:
1. Configura los colores de las velas y el umbral del VIX desde las opciones del indicador.
2. Utiliza el triángulo naranja para identificar momentos en los que la volatilidad implícita del mercado puede estar aumentando.
3. Observa las velas para confirmar tendencias:
• Verde o Verde Intenso: Señales de continuidad alcista.
• Rojo: Tendencia bajista o pérdida de momentum.
• Azul: Potenciales zonas de sobreventa.
Este indicador es perfecto para traders que desean combinar análisis técnico y volatilidad en una herramienta visual e intuitiva. ¡Añádelo a tu gráfico y optimiza tu estrategia de swing trading y opciones! 🚀
Vikas Buy Sell Signal_ 5 EMA’s, RSI 60_40, 2 Donchian StrategyDescription of the EMA RSI Donchian Trading Strategy
Overview: The EMA RSI Donchian Trading Strategy is a comprehensive trading system designed for use in TradingView. This strategy combines multiple technical indicators—Exponential Moving Averages (EMAs), the Relative Strength Index (RSI), and Donchian Channels—to identify optimal entry and exit points for both long and short trades. The script is built using Pine Script version 5 and is tailored to provide traders with visual signals and alerts for informed decision-making.
Key Features:
Indicator Inputs:
Exponential Moving Averages (EMAs): Users can customize the lengths of five EMAs:
Fast EMA (default: 9)
Mid EMA (default: 21)
Slow EMA (default: 55)
Additional EMAs of lengths 89 and 144.
Relative Strength Index (RSI): Users can define the RSI period (default: 14) and set overbought (default: 60) and oversold (default: 40) levels.
Donchian Channels: Users can specify lengths for two Donchian Channels (default: 21 and 74).
Calculations:
The script calculates the fast, mid, and slow EMAs based on the closing prices.
The RSI is computed using the defined period.
The upper and lower bands for both Donchian Channels, as well as their midpoints, are calculated to identify price ranges.
Visual Plotting:
The script plots the five EMAs on the chart using distinct colors and line widths for easy differentiation.
It also plots the upper, lower, and mid bands for both Donchian Channels with appropriate colors, providing a visual representation of price volatility.
Entry Conditions:
Long Entry: A long position is triggered when the fast EMA crosses above the slow EMA while the RSI is above the overbought level.
Short Entry: A short position is initiated when the fast EMA crosses below the slow EMA while the RSI is below the oversold level.
Risk Management:
Stop Loss: For long entries, a stop loss is set at 1% below the most recent swing high. For short entries, it is set at 1% above the most recent swing low.
Take Profit Targets: Two take profit targets are defined for both long and short positions, calculated at 2.618% and 3.6185% from the stop loss level.
Labels and Alerts:
The script adds labels to the chart indicating buy and sell signals when trades are initiated.
Alert conditions are implemented to notify users of long and short entry signals, allowing for timely execution of trades.
Conclusion: The EMA RSI Donchian Trading Strategy is a robust tool for traders seeking to leverage technical analysis for trading decisions. By combining multiple indicators, it enhances the ability to identify trends and potential reversals, while also incorporating essential risk management practices. This strategy is suitable for traders of all levels looking to improve their trading performance through systematic analysis.
MultiLayer Awesome Oscillator Saucer Strategy [Skyrexio]Overview
MultiLayer Awesome Oscillator Saucer Strategy leverages the combination of Awesome Oscillator (AO), Williams Alligator, Williams Fractals and Exponential Moving Average (EMA) to obtain the high probability long setups. Moreover, strategy uses multi trades system, adding funds to long position if it considered that current trend has likely became stronger. Awesome Oscillator is used for creating signals, while Alligator and Fractal are used in conjunction as an approximation of short-term trend to filter them. At the same time EMA (default EMA's period = 100) is used as high probability long-term trend filter to open long trades only if it considers current price action as an uptrend. More information in "Methodology" and "Justification of Methodology" paragraphs. The strategy opens only long trades.
Unique Features
No fixed stop-loss and take profit: Instead of fixed stop-loss level strategy utilizes technical condition obtained by Fractals and Alligator to identify when current uptrend is likely to be over (more information in "Methodology" and "Justification of Methodology" paragraphs)
Configurable Trading Periods: Users can tailor the strategy to specific market windows, adapting to different market conditions.
Multilayer trades opening system: strategy uses only 10% of capital in every trade and open up to 5 trades at the same time if script consider current trend as strong one.
Short and long term trend trade filters: strategy uses EMA as high probability long-term trend filter and Alligator and Fractal combination as a short-term one.
Methodology
The strategy opens long trade when the following price met the conditions:
1. Price closed above EMA (by default, period = 100). Crossover is not obligatory.
2. Combination of Alligator and Williams Fractals shall consider current trend as an upward (all details in "Justification of Methodology" paragraph)
3. Awesome Oscillator shall create the "Saucer" long signal (all details in "Justification of Methodology" paragraph). Buy stop order is placed one tick above the candle's high of last created "Saucer signal".
4. If price reaches the order price, long position is opened with 10% of capital.
5. If currently we have opened position and price creates and hit the order price of another one "Saucer" signal another one long position will be added to the previous with another one 10% of capital. Strategy allows to open up to 5 long trades simultaneously.
6. If combination of Alligator and Williams Fractals shall consider current trend has been changed from up to downtrend, all long trades will be closed, no matter how many trades has been opened.
Script also has additional visuals. If second long trade has been opened simultaneously the Alligator's teeth line is plotted with the green color. Also for every trade in a row from 2 to 5 the label "Buy More" is also plotted just below the teeth line. With every next simultaneously opened trade the green color of the space between teeth and price became less transparent.
Strategy settings
In the inputs window user can setup strategy setting: EMA Length (by default = 100, period of EMA, used for long-term trend filtering EMA calculation). User can choose the optimal parameters during backtesting on certain price chart.
Justification of Methodology
Let's go through all concepts used in this strategy to understand how they works together. Let's start from the easies one, the EMA. Let's briefly explain what is EMA. The Exponential Moving Average (EMA) is a type of moving average that gives more weight to recent prices, making it more responsive to current price changes compared to the Simple Moving Average (SMA). It is commonly used in technical analysis to identify trends and generate buy or sell signals. It can be calculated with the following steps:
1.Calculate the Smoothing Multiplier:
Multiplier = 2 / (n + 1), Where n is the number of periods.
2. EMA Calculation
EMA = (Current Price) × Multiplier + (Previous EMA) × (1 − Multiplier)
In this strategy uses EMA an initial long term trend filter. It allows to open long trades only if price close above EMA (by default 50 period). It increases the probability of taking long trades only in the direction of the trend.
Let's go to the next, short-term trend filter which consists of Alligator and Fractals. Let's briefly explain what do these indicators means. The Williams Alligator, developed by Bill Williams, is a technical indicator designed to spot trends and potential market reversals. It uses three smoothed moving averages, referred to as the jaw, teeth, and lips:
Jaw (Blue Line): The slowest of the three, based on a 13-period smoothed moving average shifted 8 bars ahead.
Teeth (Red Line): The medium-speed line, derived from an 8-period smoothed moving average shifted 5 bars forward.
Lips (Green Line): The fastest line, calculated using a 5-period smoothed moving average shifted 3 bars forward.
When these lines diverge and are properly aligned, the "alligator" is considered "awake," signaling a strong trend. Conversely, when the lines overlap or intertwine, the "alligator" is "asleep," indicating a range-bound or sideways market. This indicator assists traders in identifying when to act on or avoid trades.
The Williams Fractals, another tool introduced by Bill Williams, are used to pinpoint potential reversal points on a price chart. A fractal forms when there are at least five consecutive bars, with the middle bar displaying the highest high (for an up fractal) or the lowest low (for a down fractal), relative to the two bars on either side.
Key Points:
Up Fractal: Occurs when the middle bar has a higher high than the two preceding and two following bars, suggesting a potential downward reversal.
Down Fractal: Happens when the middle bar shows a lower low than the surrounding two bars, hinting at a possible upward reversal.
Traders often combine fractals with other indicators to confirm trends or reversals, improving the accuracy of trading decisions.
How we use their combination in this strategy? Let’s consider an uptrend example. A breakout above an up fractal can be interpreted as a bullish signal, indicating a high likelihood that an uptrend is beginning. Here's the reasoning: an up fractal represents a potential shift in market behavior. When the fractal forms, it reflects a pullback caused by traders selling, creating a temporary high. However, if the price manages to return to that fractal’s high and break through it, it suggests the market has "changed its mind" and a bullish trend is likely emerging.
The moment of the breakout marks the potential transition to an uptrend. It’s crucial to note that this breakout must occur above the Alligator's teeth line. If it happens below, the breakout isn’t valid, and the downtrend may still persist. The same logic applies inversely for down fractals in a downtrend scenario.
So, if last up fractal breakout was higher, than Alligator's teeth and it happened after last down fractal breakdown below teeth, algorithm considered current trend as an uptrend. During this uptrend long trades can be opened if signal was flashed. If during the uptrend price breaks down the down fractal below teeth line, strategy considered that uptrend is finished with the high probability and strategy closes all current long trades. This combination is used as a short term trend filter increasing the probability of opening profitable long trades in addition to EMA filter, described above.
Now let's talk about Awesome Oscillator's "Sauser" signals. Briefly explain what is the Awesome Oscillator. The Awesome Oscillator (AO), created by Bill Williams, is a momentum-based indicator that evaluates market momentum by comparing recent price activity to a broader historical context. It assists traders in identifying potential trend reversals and gauging trend strength.
AO = SMA5(Median Price) − SMA34(Median Price)
where:
Median Price = (High + Low) / 2
SMA5 = 5-period Simple Moving Average of the Median Price
SMA 34 = 34-period Simple Moving Average of the Median Price
Now we know what is AO, but what is the "Saucer" signal? This concept was introduced by Bill Williams, let's briefly explain it and how it's used by this strategy. Initially, this type of signal is a combination of the following AO bars: we need 3 bars in a row, the first one shall be higher than the second, the third bar also shall be higher, than second. All three bars shall be above the zero line of AO. The price bar, which corresponds to third "saucer's" bar is our signal bar. Strategy places buy stop order one tick above the price bar which corresponds to signal bar.
After that we can have the following scenarios.
Price hit the order on the next candle in this case strategy opened long with this price.
Price doesn't hit the order price, the next candle set lower low. If current AO bar is increasing buy stop order changes by the script to the high of this new bar plus one tick. This procedure repeats until price finally hit buy order or current AO bar become decreasing. In the second case buy order cancelled and strategy wait for the next "Saucer" signal.
If long trades has been opened strategy use all the next signals until number of trades doesn't exceed 5. All trades are closed when the trend changes to downtrend according to combination of Alligator and Fractals described above.
Why we use "Saucer" signals? If AO above the zero line there is a high probability that price now is in uptrend if we take into account our two trend filters. When we see the decreasing bars on AO and it's above zero it's likely can be considered as a pullback on the uptrend. When we see the stop of AO decreasing and the first increasing bar has been printed there is a high probability that this local pull back is finished and strategy open long trade in the likely direction of a main trend.
Why strategy use only 10% per signal? Sometimes we can see the false signals which appears on sideways. Not risking that much script use only 10% per signal. If the first long trade has been open and price continue going up and our trend approximation by Alligator and Fractals is uptrend, strategy add another one 10% of capital to every next saucer signal while number of active trades no more than 5. This capital allocation allows to take part in long trades when current uptrend is likely to be strong and use only 10% of capital when there is a high probability of sideways.
Backtest Results
Operating window: Date range of backtests is 2023.01.01 - 2024.11.25. It is chosen to let the strategy to close all opened positions.
Commission and Slippage: Includes a standard Binance commission of 0.1% and accounts for possible slippage over 5 ticks.
Initial capital: 10000 USDT
Percent of capital used in every trade: 10%
Maximum Single Position Loss: -5.10%
Maximum Single Profit: +22.80%
Net Profit: +2838.58 USDT (+28.39%)
Total Trades: 107 (42.99% win rate)
Profit Factor: 3.364
Maximum Accumulated Loss: 373.43 USDT (-2.98%)
Average Profit per Trade: 26.53 USDT (+2.40%)
Average Trade Duration: 78 hours
These results are obtained with realistic parameters representing trading conditions observed at major exchanges such as Binance and with realistic trading portfolio usage parameters.
How to Use
Add the script to favorites for easy access.
Apply to the desired timeframe and chart (optimal performance observed on 3h BTC/USDT).
Configure settings using the dropdown choice list in the built-in menu.
Set up alerts to automate strategy positions through web hook with the text: {{strategy.order.alert_message}}
Disclaimer:
Educational and informational tool reflecting Skyrex commitment to informed trading. Past performance does not guarantee future results. Test strategies in a simulated environment before live implementation
Trend Following Scalping StrategyTrend-following strategy that combines moving averages and MACD for precise entry and exit points. Designed for GBP/USD 15-minute timeframe, this strategy focuses on capturing momentum while maintaining strict risk management.
Key Features:
• Dual Moving Average System (50 & 200 MA)
• MACD (12, 26, 9) with Signal Line Crossovers
• Smart Trade Filtering to Avoid Choppy Markets
Entry Conditions:
Long:
- Price above 50 MA
- MACD crosses above Signal Line
- Confirmed uptrend (50 MA > 200 MA)
- Minimum bars between trades requirement met
Short:
- Price below 50 MA
- MACD crosses below Signal Line
- Confirmed downtrend (50 MA < 200 MA)
- Minimum bars between trades requirement met
Exit Rules:
- Take Profit: 10pips (adjustable)
- Stop Loss: 5pips (adjustable)
- Dynamic exits on MACD cross or MA cross
Time Boss - EliteIndicatorSysIntroducing Time Boss, a versatile tool designed to enhance your charting experience. This script combines elements from two public watermark indicators and one timeframe countdown indicator.
The Ticker Watermark indicator has been modified.
The Timeframe Countdown indicator has been modified to show common timeframes (3m, 5m, 15m, 1h, 4h, 1d, 1w) when on the daily timeframe and under, and to display 1m, 3m, and 12m in place of the intrahour timeframes when viewing daily charts and above. It also includes a countdown for RSI with customizable coloring based on RSI strength..
Features:
Trader Name Watermark:
Options for font, sizing, and location
Display your trader name on the chart
Timeframe Countdown:
Shows countdown for common timeframes (3m, 5m, 15m, 1h, 4h, 1d, 1w) under the daily timeframe
Adjusts to show 1m, 3m, and 12m timeframes on daily charts
RSI display with color options based on RSI strength
Asset Watermark:
Customizable options for sizing, exchange sponsor name, and location
Usage:
Perfect for traders needing customizable watermarks to brand their charts preventing theft and dynamic countdowns on their charts.
UVR Crypto TrendINDICATOR OVERVIEW: UVR CRYPTO TREND
The UVR Crypto Trend indicator is a custom-built tool designed specifically for cryptocurrency markets, utilizing advanced volatility, momentum, and trend-following techniques. It aims to identify trend reversals and provide buy and sell signals by analyzing multiple factors, such as price volatility(UVR), RSI (Relative Strength Index), CMF (Chaikin Money Flow), and EMA (Exponential Moving Average). The indicator is optimized for CRYPTO MARKETS only.
KEY FEATURES AND HOW IT WORKS
Volatility Analysis with UVR
The UVR (Ultimate Volatility Rate) is a proprietary calculation that measures market volatility by comparing significant price extremes and smoothing the data over time.
Purpose: UVR aims to reduce noise in low-volatility environments and highlight significant movements during higher-volatility periods. While it strives to improve filtering in low-volatility conditions, it does not guarantee perfect performance, making it a balanced and adaptable tool for dynamic markets like cryptocurrency.
HOW UVR (ULTIMATE VOLATILITY RATE) IS CALCULATED
UVR is calculated using a method that ensures precise measurement of market volatility by comparing price extremes across consecutive candles:
Volatility Components:
Two values are calculated to represent potential price fluctuations:
The absolute difference between the current candle's high and the previous candle's low:
Volatility Component 1=∣High−Low ∣
The absolute difference between the previous candle's high and the current candle's low:
Volatility Component 2=∣High −Low∣
Volatility Ratio:
The larger of the two components is selected as the Volatility Ratio, ensuring UVR captures the most significant movement:
Volatility Ratio=max(Volatility Component 1,Volatility Component 2)
Smoothing with SMMA:
To stabilize the volatility calculation, the Volatility Ratio is smoothed using a Smoothed Moving Average (SMMA) over a user-defined period (e.g., 14 candles):
UVR=(UVR(Previous)×(Period−1)+Volatility Ratio)/Period
This calculation ensures UVR adapts dynamically to market conditions, focusing on significant price movements while filtering out noise.
RSI FOR MOMENTUM DETECTION
RSI (Relative Strength Index) identifies overbought and oversold conditions.
Trend Confirmation at the 50 Level
RSI values crossing above 50 signal the potential start of an upward trend.
RSI values crossing below 50 indicate the potential start of a downward trend.
Key Reversals at Extreme Levels
RSI detects trend reversals at overbought (>70) and oversold (<30) levels.
For example:
Overbought Trend Reversal: RSI >70 followed by bearish price action signals a potential downtrend.
Oversold Trend Reversal: RSI <30 with bullish confirmation signals a potential uptrend.
Rare Extreme RSI Readings
Extreme levels, such as RSI <12 (oversold) or RSI >88 (overbought), are used to identify rare yet powerful reversals.
---HOW IT DIFFERS FROM OTHER INDICATORS---
Using UVR High and Low Values
The Ultimate Volatility Rate (UVR) focuses on analyzing the high and low price ranges of the market to measure volatility.
Unlike traditional trend indicators that rely primarily on momentum or moving average crossovers, UVR leverages price extremes to better identify trend reversals.
This approach ensures fewer false signals during low-volatility phases and more accurate trend detection during high-volatility conditions.
UVR as the Core Component
The indicator is fundamentally built around UVR as the primary filter, while supporting tools like RSI (momentum detection), CMF (volume confirmation), and EMA (trend validation) complement its functionality.
By integrating these additional components, the indicator provides a multidimensional analysis rather than relying solely on a single approach.
Dynamic Adaptation to Volatility
UVR dynamically adjusts to market conditions, striving to improve filtering in low-volatility phases. While not flawless, this approach minimizes false signals and adapts more effectively to varying levels of market activity.
Trend Clouds for Visual Guidance
UVR-based dynamic clouds visually mark high and low price areas, highlighting potential consolidation or retracement zones.
These clouds serve as guides for setting stop-loss or take-profit levels, offering clear risk management strategies.
BUY AND SELL SIGNAL LOGIC
BUY CONDITIONS
Momentum-Based Buy-Entry
RSI >50, CMF >0, and the close price is above EMA50.
The price difference between open and close exceeds a threshold based on UVR.
Oversold Reversal
RSI <30 and CMF >0 with a strong bullish candle (close > open and UVR-based sensitivity filter).
Breakout Confirmation
The price breaks above a previously identified resistance, with conditions for RSI and CMF supporting the breakout.
Reversal from Oversold RSI Extreme
RSI <12 on the previous candle with a strong rebound on the current candle with UVR confirmation filter.
SELL CONDITIONS
Momentum-Based Sell-Entry
RSI <50, CMF <0, and the close price is below EMA50.
The price difference between open and close exceeds the UVR threshold.
Overbought Reversal
RSI >70 with bearish price action (open > close and UVR-based sensitivity filter).
Breakdown Confirmation
The price breaks below a previously identified support, with RSI and CMF supporting the breakdown.
Reversal from Overbought RSI Extreme
RSI >88 on the previous candle with a bearish confirmation on the current candle with UVR confirmation filter.
BUY AND SELL SIGNALS VISUALIZATION
The UVR Crypto Trend Indicator visually represents buy and sell conditions using dynamic plots, making it easier for traders to interpret and act on the signals. Below is an explanation of the visual representation:
Buy Signals and Visualization
Signal Trigger:
A buy signal is generated when one of the defined Buy Conditions is met (e.g., RSI >50, CMF >0, price above EMA50).
Visual Representation:
A blue upward arrow appears at the candle where the buy condition is triggered.
A blue cloud forms above the price candles, representing the strength of the bullish trend. The cloud dynamically adapts to market volatility, using the UVR calculation to mark support zones or consolidation levels.
Purpose of the Blue Cloud:
It acts as a visual guide for price movements and stay horizontal when the trend is not moving up
Sell Signals and Visualization
Signal Trigger:
A sell signal is generated when one of the defined Sell Conditions is met (e.g., RSI <50, CMF <0, price below EMA50).
Visual Representation:
A red downward arrow appears at the candle where the sell condition is triggered.
A red cloud forms below the price candles, representing the strength of the bearish trend. Like the blue cloud, it uses the UVR calculation to dynamically mark resistance zones or potential retracement levels.
Purpose of the Red Cloud:
It acts as a visual guide for price movements and stay horizontal when the trend is not moving down.
CONCLUSION
The UVR Crypto Trend indicator provides a powerful tool for trend reversal detection by combining volatility analysis, momentum confirmation, and trend-following techniques. Its unique use of the Ultimate Volatility Rate (UVR) as a core element, supported by proven indicators like RSI, CMF, and EMA, ensures reliable and actionable signals tailored for the crypto market's dynamic nature. By leveraging UVR’s high and low price range analysis, it achieves a level of precision that traditional indicators lack, making it a high-performing system for cryptocurrency traders.
Fidubit Scalper BotFidubit Scalper Bot
Escaneo de ordenes volumetricas, + Scalping bot usando fibonnaci
User-Variable Low-Volume CalculatorThe indicator will look at the last 20x, 50x candles (user defined setting) and take the highest volume value in this period.
It will then mark a solid line against the volume, calculated by a user defined variable percentage (default 16%).
If you determine any volume values that are under 16% (for example) of the highest volume candles in any given period, this indicator will paint this 16% level onto a volume chart for you, this is useful to quickly and conveniently see which candles held a volume below this level
How to generate profits with easy and basic indicatorsFirst post in a while, so please leave me feedback!
I'd like to start a series of posts where I explain and show how basic indicators can be utilized to maximize profits. Understanding basic indicators, such as MACD, RSI, Stochastics, Moving averages, etc are better than using advanced or complicated indicators. Often times, traders get caught up in trying to create the best indicator they can, but fail to realize that it won't perform well if they don't understand it. Instead, it is better to understand and learn which indicators control what kind of market, and how to tune each indicator to account for the market it is targeting.
In this example, I'll be focusing on the MACD and Linear Regression slope indicators. In my strategy, my MACD is slightly modified so that the smoothing function incorporates the WMA, TEMA in addition to the standard SMA and EMA. The difference between the 4 different types of moving averages may not seem significant since they're all a TYPE of moving average, but the difference becomes very clear when they're incorporated into a MACD calculation. As with many things in trading, there is no correct answer, but in this study I used the WMA simply because experience has taught me that the most recent point of data is the most important, which is utilized in the WMA calculation.
In addition to the MACD indicator, I add a Linear regression slope indicator. My script allows you to generate buy signals with the MACD indicator ALONE, or the Linear regression slope (LRS) indicator ONLY, or both. Similarly, the sell indicators are structured the same way. A take profit and stop loss is also utilized.
The LRS is designed to plot out 2 values: the linear regression value, and the slope of the linear regression value which is essentially the difference between 2 most current points. The buy indicator for LRS in my script can either be when the slope is increasing, when the linear regression value is greater than the price of the chart, or BOTH.
By combining the MACD and Linear regression into one script, we are left with 4 integer parameters to tune. In this example, we are using an initial capital of 10,000, with a 100% equity order size. The reason I am doing this is because I want to show how effective this strategy is compared to buying and holding Bitcoin under the same conditions. Assuming a commission of .1%, and a slippage of 10 ticks, this strategy is about +4000 compared to bitcoin (+25,000 vs +21,000.)
In the coming days and weeks, I'll be coming out with my simplified combo scripts that show how slightly modifying standard indicators, or combining 2 indicators can be better than using complicated indicators such as those claiming to be AI (artificial intelligence) or ML (machine learning) driven.
If you have any feedback, questions, or comments please leave them below! I am very transparent with over a decade of experience in data science and statistics, and an engineering background. Looking to help others! :)
Lastly, If you'd like to use my strategy and indicator, please send me a message. I also don't mind a challenge. Send me ANY chart, ANY market, ANY time frame, and I'll adapt a simplified (1-2 indicator) strategy to suit your needs.
Teyfik In 7**Pine Script Kodunun Açıklaması**
Bu Pine Script, üç temel indikatör olan **Ichimoku Cloud**, **RSI**, ve **Supertrend** indikatörlerini bir araya getirerek basit ama etkili bir alım-satım stratejisi oluşturur. Kod, fiyat trendlerini, momentumu ve volatiliteyi bir arada analiz eder.
---
### **Kodun Detayları**
#### 1. **Ichimoku Bileşenleri**
- **Tenkan-sen (TK)**: Kısa vadeli fiyat trendini belirler.
```pinescript
TK = ta.sma(ta.lowest(TKlength) + ta.highest(TKlength), 2)
```
Bu, seçilen `TKlength` periyodundaki en düşük ve en yüksek değerlerin ortalamasıdır.
- **Kijun-sen (KJ)**: Orta vadeli fiyat trendini belirler.
```pinescript
KJ = ta.sma(ta.lowest(KJlength) + ta.highest(KJlength), 2)
```
Kijun-sen de aynı şekilde hesaplanır ancak daha uzun bir periyodu kapsar.
- **Senkou Span A (SA)**: Tenkan-sen ve Kijun-sen’in ortalaması.
```pinescript
SA = (TK + KJ) / 2
```
- **Senkou Span B (SB)**: Daha uzun bir dönemi kapsayan destek/direnç hattıdır.
```pinescript
SB = ta.sma(ta.lowest(SBlength) + ta.highest(SBlength), 2)
```
- **Chikou Span (CS)**: Fiyatın geçmiş performansını analiz eder.
```pinescript
CS = close
```
---
#### 2. **RSI (Relative Strength Index)**
- **RSI'nin Hesaplanması**:
```pinescript
rsi = ta.rsi(close, rsiLength)
```
RSI, fiyatın aşırı alım (70 üstü) ya da aşırı satım (30 altı) bölgelerinde olup olmadığını belirlemek için kullanılır.
- **Hangi Durumlarda Önemli?**
- **RSI < 30**: Piyasa aşırı satım bölgesinde, alım fırsatı olabilir.
- **RSI > 70**: Piyasa aşırı alım bölgesinde, satış fırsatı olabilir.
---
#### 3. **Supertrend**
- **Volatilite Hesaplaması (ATR)**:
```pinescript
atr = ta.atr(atrLength)
```
ATR, fiyatın ne kadar hareket ettiğini (volatilite) ölçer.
- **Supertrend Yön Belirleme**:
```pinescript
upTrend = close - (atr * atrMultiplier)
downTrend = close + (atr * atrMultiplier)
trend = close > ta.valuewhen(close < downTrend, upTrend, 0) ? 1 : close < ta.valuewhen(close > upTrend, downTrend, 0) ? -1 : na
```
- Eğer fiyat, düşüş seviyesinin üstündeyse trend pozitif (+1).
- Fiyat, yükseliş seviyesinin altındaysa trend negatif (-1).
---
#### 4. **Sinyaller**
- **Alım Sinyali**:
```pinescript
buySignal = trend == 1 and rsi < rsiOversold
```
- Trend pozitif (+1).
- RSI aşırı satım bölgesinde (< 30).
- **Satış Sinyali**:
```pinescript
sellSignal = trend == -1 and rsi > rsiOverbought
```
- Trend negatif (-1).
- RSI aşırı alım bölgesinde (> 70).
---
#### 5. **Grafik ve Görsel İşaretleme**
- **Ichimoku Çizgileri**:
```pinescript
plot(TK, color=color.blue, title="Tenkan-sen")
plot(KJ, color=color.red, title="Kijun-sen")
```
- **RSI Seviyeleri**:
```pinescript
hline(rsiOverbought, "RSI Overbought", color=color.red)
hline(rsiOversold, "RSI Oversold", color=color.green)
```
- **Alım ve Satış İşaretleri**:
```pinescript
plotshape(buySignal, title="Buy Signal", location=location.belowbar, color=color.green, style=shape.labelup, text="Buy")
plotshape(sellSignal, title="Sell Signal", location=location.abovebar, color=color.red, style=shape.labeldown, text="Sell")
```
---
### **Stratejinin Kullanımı**
Bu indikatör, aşağıdaki durumlarda kullanılabilir:
1. **Trend Teyidi**: Ichimoku ve Supertrend ile piyasanın yönünü belirler.
2. **Alım/Satım Sinyalleri**: RSI ve trend indikatörlerinden gelen sinyalleri birleştirerek giriş ve çıkış noktalarını tespit eder.
3. **Risk Azaltma**: Farklı indikatörlerin kombinasyonu, yanlış sinyalleri filtreleyerek daha güvenilir sonuçlar elde etmenize olanak sağlar.
Bu indikatörü TradingView üzerinde test ederek, stratejiyi optimize edebilir ve botunuzda kullanabilirsiniz. İhtiyacınız olursa daha fazla detaylı açıklama yapabilir veya stratejiyi geliştirebiliriz!
### Explanation of the Pine Script (English Version)
This Pine Script combines **Ichimoku Cloud**, **RSI (Relative Strength Index)**, and **Supertrend** indicators into a single, actionable strategy. It provides insights into market trends, momentum, and volatility, making it suitable for trading decisions.
---
### **Details of the Script**
#### 1. **Ichimoku Cloud Components**
- **Tenkan-sen (TK)**: Short-term trend indicator.
```pinescript
TK = ta.sma(ta.lowest(TKlength) + ta.highest(TKlength), 2)
```
- Represents the average of the highest high and lowest low over the `TKlength` period.
- **Kijun-sen (KJ)**: Medium-term trend indicator.
```pinescript
KJ = ta.sma(ta.lowest(KJlength) + ta.highest(KJlength), 2)
```
- Similar to Tenkan-sen but calculated over a longer period.
- **Senkou Span A (SA)**: Leading line calculated as the midpoint between Tenkan-sen and Kijun-sen.
```pinescript
SA = (TK + KJ) / 2
```
- **Senkou Span B (SB)**: The second leading line, representing longer-term support/resistance.
```pinescript
SB = ta.sma(ta.lowest(SBlength) + ta.highest(SBlength), 2)
```
- **Chikou Span (CS)**: Lagging line representing historical price movements.
```pinescript
CS = close
```
---
#### 2. **RSI (Relative Strength Index)**
- **Calculation of RSI**:
```pinescript
rsi = ta.rsi(close, rsiLength)
```
- RSI identifies overbought (above 70) and oversold (below 30) conditions.
- **Key Levels**:
- **RSI < 30**: Indicates oversold conditions and potential buying opportunities.
- **RSI > 70**: Indicates overbought conditions and potential selling opportunities.
---
#### 3. **Supertrend**
- **Volatility Calculation (ATR)**:
```pinescript
atr = ta.atr(atrLength)
```
- ATR measures the level of volatility in the market.
- **Supertrend Trend Detection**:
```pinescript
upTrend = close - (atr * atrMultiplier)
downTrend = close + (atr * atrMultiplier)
trend = close > ta.valuewhen(close < downTrend, upTrend, 0) ? 1 : close < ta.valuewhen(close > upTrend, downTrend, 0) ? -1 : na
```
- If the price is above the calculated "down trend" level, the trend is positive (+1).
- If the price is below the "up trend" level, the trend is negative (-1).
---
#### 4. **Buy and Sell Signals**
- **Buy Signal**:
```pinescript
buySignal = trend == 1 and rsi < rsiOversold
```
- Triggered when the trend is positive, and RSI is below the oversold level (30).
- **Sell Signal**:
```pinescript
sellSignal = trend == -1 and rsi > rsiOverbought
```
- Triggered when the trend is negative, and RSI is above the overbought level (70).
---
#### 5. **Visualization and Plotting**
- **Ichimoku Lines**:
```pinescript
plot(TK, color=color.blue, title="Tenkan-sen")
plot(KJ, color=color.red, title="Kijun-sen")
```
- **RSI Levels**:
```pinescript
hline(rsiOverbought, "RSI Overbought", color=color.red)
hline(rsiOversold, "RSI Oversold", color=color.green)
```
- **Buy and Sell Markers**:
```pinescript
plotshape(buySignal, title="Buy Signal", location=location.belowbar, color=color.green, style=shape.labelup, text="Buy")
plotshape(sellSignal, title="Sell Signal", location=location.abovebar, color=color.red, style=shape.labeldown, text="Sell")
```
---
### **Use Cases**
This indicator can be used for:
1. **Trend Confirmation**: Use Ichimoku Cloud and Supertrend to identify market direction.
2. **Buy/Sell Signals**: Combine RSI with trend indicators to determine entry and exit points.
3. **Risk Reduction**: By using multiple indicators, the script reduces false signals and provides more reliable trading insights.
---
### **Practical Example**
- When the RSI is below 30 (oversold) and the trend is positive, the script triggers a **Buy Signal**.
- When the RSI is above 70 (overbought) and the trend is negative, the script triggers a **Sell Signal**.
- The background color changes to green for positive trends and red for negative trends for better visualization.
This script is ready to be used in **TradingView**, and it is well-suited for crypto and stock trading. You can further customize or optimize it according to your trading preferences. Let me know if you need additional details or modifications!
Fractals BY HassanIt Draws fractals on the chart by the period you define and the fractals are minimal and look good
