OnChart - SuiteThe Motivation Behind OnChart Suite
In the dynamic world of trading, the ability to interpret market trends and make timely decisions is paramount. OnChart Suite was developed to empower traders by offering a comprehensive suite of tools that combine advanced analysis with intuitive user experience. The goal is to support traders in navigating complex market environments, helping them refine their strategies and gain a deeper understanding of price movements.
█ Key Features
🤖 ApexAlphaClouds: Identifies potential price rejections or breakthroughs by analyzing dynamic price ranges.
🔢 Matrix Algo: Offers multi-timeframe trend sentiment analysis using key market indicators.
🎯 CandleSniper: Detects key decision points based on phase calculation and Fibonacci levels.
🧲 MagnetZone Horizon: Highlights strategic price zones that can act as smart FVGs.
🟢 NeonZenith: Combines trend analysis with decision points and Fibonacci targets.
█ How These Tools Work Together
OnChart Suite integrates each of these powerful tools to provide traders with a comprehensive analysis framework. By combining the ApexAlphaClouds for price movement intuition, the Matrix Algo for trend sentiment, the CandleSniper for decision points, the MagnetZone Horizon for strategic price zones, and the NeonZenith for trend and target analysis, traders can develop robust trading strategies. This integration ensures that traders have access to multiple perspectives on market conditions, enhancing their ability to make calculated decisions.
█ Detailed Feature Explanations:
--------------🤖 ApexAlphaClouds --------------
How the Tool Can Help Traders
The `ApexAlphaClouds` indicator is designed to assist traders by identifying dynamic price ranges where the market tends to consolidate, which are critical for making informed trading decisions. The tool uses an ML algorithm to analyze high-price data over a set period and determines key levels on the chart, which are visualized as "clouds." These clouds represent potential support and resistance areas, where price action is likely to pause, reverse, or experience increased volatility.
The primary benefit for traders is the ability to identify these key zones in real-time, allowing them to anticipate potential market movements and plan trades accordingly. For example, if a trader sees that price is approaching a cloud boundary, they might expect a reversal or a breakout, depending on the broader market context. This can be particularly useful in range-bound markets or when looking for potential entry and exit points in trending markets.
How Traders Can Use the Indicator
Identifying Support and Resistance:
The clouds plotted by the `ApexAlphaClouds` indicator can be used to identify dynamic support and resistance levels. Traders can watch how the price reacts when it enters these clouds. If the price bounces off a lower cloud, it may suggest support, while a rejection from an upper could indicate resistance.
Trend Reversals and Continuations:
The indicator's middle cloud can help identify potential trend reversals. If price moves through the middle cloud and continues in the same direction, it could indicate a trend continuation. Conversely, if price reverses within the middle cloud, it might signal a potential trend reversal.
Volatility and Breakouts:
The distance between the upper and lower clouds can give traders an idea of market volatility. Narrow clouds suggest low volatility, which may precede a breakout, while wide clouds indicate higher volatility, where prices might oscillate within the range.
Settings Input and Their Effects
’ApexAlphaClouds` (Toggle) -This setting allows the trader to enable or disable the `ApexAlphaClouds` indicator on their chart.
Effect: When enabled, the clouds representing dynamic price ranges will be displayed on the chart. Disabling this will hide the indicator’s outputs.
Target Area Size - This setting determines the number of bars (length) the algorithm considers when collecting high prices for clustering.
Effect: A larger value will make the indicator consider a broader historical range, potentially smoothing out the clouds and identifying longer-term price ranges. A smaller value will focus on more recent price action, which might be useful for short-term trading strategies.
Accuracy - This setting specifies the number of groups that the algorithm will try to identify within the selected data range.
Effect: A higher value increases the number of identified clusters, making the indicator more sensitive to minor fluctuations in price. This can be useful for traders looking to identify multiple potential reversal points. A lower value will focus on the most prominent price clusters, which may be more relevant for long-term analysis.
Maximum Calibration - This setting controls the maximum number of iterations the machine learning algorithm will perform to find the optimal clusters.
Effect: Increasing allows the algorithm more time to refine the clusters, potentially leading to more accurate and stable clouds. However, it may also increase the computation time. Decreasing this value may speed up the process but could result in less accurate clustering.
Wide Range Calibration - This setting determines the maximum number of bars the algorithm will consider when applying the clustering.
Effect: A larger value allows the algorithm to analyse a wider range of historical data, which can help identify significant long-term price ranges. A smaller value will limit the analysis to more recent data, which might be preferable for traders focused on short-term movements.
Smoothing Factor - This setting applies a smoothing function to the clouds, reducing noise and making the price ranges more visually consistent.
Effect :A higher smoothing factor will produce smoother, more consistent clouds, which might be beneficial in volatile markets to avoid false signals. A lower smoothing factor will make the clouds more responsive to recent price changes, which could be useful for scalping or short-term trading strategies.
Usage Scenarios
Scalping:
Traders using short-term strategies might set Accuracy to a smaller value and reduce the Smoothing Factor to make the clouds more responsive to recent price action. This helps in identifying quick reversal points.
Swing Trading:
Swing traders could use a larger Target Area Size and increase Accuracy to identify key price ranges that have held over longer periods. Adjusting Wide Range Calibration to a higher value allows them to consider broader historical trends.
Trend Following:
By observing how price interacts with the clouds, trend-following traders can look for breakouts or breakdowns from the clouds to confirm entry points in the direction of the trend.
Volatility Management:
Traders can monitor the width of the clouds to gauge market volatility and adjust their strategies accordingly, tightening stops in narrow cloud ranges or widening them in broader ranges.
Conclusion
The `ApexAlphaClouds` indicator is a powerful tool for traders looking to analyze price action with a focus on dynamic price ranges. By understanding and utilizing the settings, traders can customize the indicator to fit their specific trading strategies, whether they are scalping, swing trading, or trend following. The key is to adjust the inputs based on the market context and trading goals, using the clouds as a visual guide to anticipate market movements and make informed decisions.
--------------🔢 Matrix Algo --------------
Matrix Algo is a multi-timeframe (MTF) tool designed to provide traders with a comprehensive view of market conditions across different timeframes using a combination of popular technical indicators. The indicator aggregates data from RSI, MACD, and Bollinger Bands across multiple timeframes, presenting this information in a matrix format to help traders make informed decisions based on a complete market overview. This allows traders to quickly assess the overall market sentiment and trend direction without having to manually check each indicator on different timeframes. By offering a bird’s-eye view of the market conditions.
How Traders Can Use Matrix Algo?
Identify Trends and Reversals: By analysing the matrix, traders can identify whether the market is bullish, bearish, or in consolidation across different timeframes.
Confirm Signals: The Matrix Algo can confirm signals from other trading strategies by providing additional context from multiple indicators across several timeframes.
Settings:
Toggle individual timeframes - (Monthly, Weekly, 3D, Daily, 4h, etc.) to include or exclude from the matrix.
Effect: The matrix displays whether the market conditions are favorable (green) or unfavorable (red) for each indicator and timeframe combination. This color-coded information helps traders quickly assess the market situation.
--------------🎯 CandleSniper --------------
Overview:
The CandleSniper indicator is designed to identify potential turning points in the market by combining various technical analysis tools. It leverages a combination of the MACD indicator, advanced phase analysis technique, and Fibonacci levels to highlight moments where price action may be reversing. This helps traders spot divergence opportunities and set potential target levels.
Explanation
MACD Divergence with Phase Analysis:
The indicator leverages the MACD (Moving Average Convergence Divergence) to identify divergences, which can indicate potential reversal points in the market. The MACD is computed using standard short and long lengths, along with a signal line.
An advanced phase analysis technique is employed to measure the difference between price and its moving averages, enabling the identification of cyclical turning points in the market
A potential bullish decision point is identified when the MACD line crosses above the signal line during a cyclical turning point. Conversely, a potential bearish decision point is identified when the MACD line crosses below the signal line during a cyclical turning point.
Fibonacci Levels for Targeting:
The indicator calculates Fibonacci extension levels based on recent price swings to provide target levels for potential price movements.
For a bullish setup, the indicator identifies levels above the current price as potential targets, while for a bearish setup, it identifies levels below the current price.
Fib Filter Line:
The Fib Filter Line is represented in purple for bullish turning points and white for bearish turning points. These lines serve as additional filters to help traders identify stronger, more reliable turning points in the market. Designed for those who prefer a more conservative approach, the Fib Filter Line offers an extra layer of confirmation based on price movements, allowing traders to filter out weaker signals and focus on more significant market shifts.
Inputs and Settings:
lookbackPeriod: Defines the period over which the indicator looks back to calculate the Fibonacci levels. Adjusting this setting can change the sensitivity of the decision points.
Dimmer and DimmerPeriod: These settings control the smoothing applied to the price data before the phase calculation. They help in reducing noise and ensuring that only significant price movements are considered for decision points.
How to Use:
Traders can use the CandleSniper indicator to identify potential decision points by observing the color changes on the bars and the plotted Fibonacci levels:
🟢 Bullish Decision Points:
When the indicator detects a bullish divergence, it highlights the bars in purple and plots potential upward Fibonacci levels as targets.
🔴 Bearish Decision Points:
When a bearish divergence is detected, the indicator highlights the bars in white and plots downward Fibonacci levels as targets.
These decision points can help traders identify when the market might be ready for a reversal or continuation or even use as a start point from where the trader can start his own analysis
Combining with Other Tools
The CandleSniper indicator can be combined with other OnChart tools to create a comprehensive trading framework:
🔢 Matrix Algo:
Use Matrix Algo to assess the overall market sentiment across multiple timeframes, then apply CandleSniper for pinpointing specific entry or exit points.
🤖 ApexAlphaClouds:
Overlay ApexAlphaClouds to visualise dynamic price ranges, using CandleSniper to identify decision points within these ranges.
This combination allows traders to develop a robust trading strategy that considers broader market trends and specific price action signal intuition.
--------------🧲 MagnetZone Horizon --------------
Overview:
The MagnetZone Horizon indicator is a specialized tool designed to identify potential gaps between two significant changes in the Average True Range (ATR). These gaps, calculated dynamically, serve as areas where the price might react, often acting as smart Fair Value Gaps (FVG). By highlighting these zones, traders can gain insights into where the market might find support, resistance, or potential reversal points.
How Traders Can Use This Indicator:
Identifying Smart Fair Value Gaps:
The MagnetZone Horizon indicator helps traders locate gaps between ATR shifts that are likely to act as significant decision points. These gaps can indicate areas where price corrections or consolidations might occur, providing opportunities for strategic entries or exits.
Adaptive Support and Resistance:
The levels calculated by the indicator adjust according to market volatility, offering dynamic support and resistance zones. These zones are particularly useful in identifying potential reversals or continuation patterns.
Volatility-Based Trading:
Since the indicator bases its calculations on ATR, it inherently adjusts to market conditions, allowing traders to align their strategies with the current level of volatility. This adaptability makes it suitable for both trending and range-bound markets.
Settings and Their Impact:
MagnetZone Horizon (Enable/Disable): This toggle allows traders to activate or deactivate the visualization of the MagnetZone Horizon on their charts.
Factor: This setting multiplies the ATR to scale the detected gaps. A higher factor results in broader zones, which might capture more significant market movements, while a lower factor creates tighter zones for more precise analysis.
Factor=5
Factor=7
Division: This setting works in conjunction with the Factor to further refine the gap calculations. Adjusting the Division setting allows traders to fine-tune how sensitive the indicator is to ATR changes, which can help in pinpointing more precise smart FVGs.
Use Cases:
Gap Trading:
Traders can use the identified gaps as potential areas to enter or exit trades, particularly if the price approaches these smart FVGs. The idea is to capitalize on the likelihood that the market will react to these gaps.
Reversal Identification:
The zones marked by the MagnetZone Horizon can indicate potential reversal points, especially in volatile markets where significant ATR changes suggest a shift in market sentiment.
Trend Continuation or Rejection:
By monitoring how the price interacts with these dynamically calculated zones, traders can assess whether a trend is likely to continue or reverse, aiding in more informed trading decisions.
The MagnetZone Horizon indicator is particularly useful for traders looking to identify significant gaps in market activity that are influenced by volatility. These smart FVGs provide a deeper understanding of where the market might react, offering a valuable tool for enhancing trading strategies and adds another strategic piece to the puzzle in the OnChart Suite.
--------------🟢NeonZenith Indicator--------------
Overview:
NeonZenith is a tool designed to provide traders with a better understanding of market trends and potential decision points by utilising multiple elements, including EMAs and Fibonacci levels. This indicator identifies key structures in recent price movements, helping traders recognize potential trend shifts and generate target levels for their trading strategies. Additionally, NeonZenith incorporates elements from the ApexAlphaCloud to enhance the interpretation of market sentiment, particularly regarding price rejections or breakthroughs.
Key Features:
Trend Direction Identification:
NeonZenith uses EMAs to help traders gauge the overall trend direction. By analysing the relationship between different EMAs, the tool highlights potential points where trends may strengthen or reverse, offering decision points for traders to consider in their strategies.
Decision Points:
The tool generates decision points based on EMA interactions, providing traders with crucial levels that may indicate potential market entries or exits. These decision points are derived from the intersection of EMAs, which are known for their reliability in identifying trend shifts.
Fibonacci Target Levels:
Based on the identified price structures, NeonZenith calculates Fibonacci levels that serve as potential target areas. These levels help traders set realistic goals for their trades, whether they are looking to take profits or manage risks effectively.
ApexAlphaCloud Integration:
The tool integrates a middle cloud from the ApexAlphaCloud, which helps traders anticipate potential price rejections or breakthroughs. This cloud provides additional context to the trend analysis, enhancing traders' ability to gauge the market's sentiment and make them think about potential price movements.
Settings:
Left and Right Border Width:
These settings control the lookback period for identifying significant price structures. By adjusting these parameters, traders can fine-tune the sensitivity of the indicator to recent price movements.
Fibonacci Calculation:
The tool calculates Fibonacci levels based on recent lows and highs, offering multiple targets for both long and short positions. These targets include various levels that traders can use to plan their entry, take-profit, and stop-loss orders.
Plotting and Visualization:
NeonZenith provides clear visual cues on the chart, including shapes and labels to mark significant decision points and target areas. These visual elements help traders quickly interpret the information provided by the indicator and apply it to their trading strategies.
How to Use NeonZenith:
Trend Identification:
Use the tool to identify the current trend direction by observing the interaction between the EMAs ,the flag sign and triangle, flag represent general trend changes and the triangle represents minor and inside trend changes.
Fibonacci Levels:
Use the generated Fibonacci levels to set target areas for your trades. These levels can guide you in deciding where to take profits or place stop-loss orders.
Sentiment Gauge:
Utilise the middle cloud from the ApexAlphaCloud to assess potential price rejections or breakthroughs. This feature provides additional insight into the strength of the current trend and helps you anticipate possible market reversals.
Conclusion:
NeonZenith is a versatile and simple tool designed to support traders in understanding market trends, identifying decision points, and setting realistic targets based on Fibonacci levels. Its integration with the ApexAlphaCloud enhances the tool's ability to provide a comprehensive view of market sentiment, making it a valuable addition to any trader's toolkit.
Search in scripts for "fib"
xBrat SlingshotThe xBrat Slingshot Software is designed to identify measured Pull Backs during trends. The Software then identifies two different types of “with trend” trading signals and 1 “trend failure” signal (discussed further down the logic explanation). It is important to know that every pullback is NOT tradeable and a strong set of rules/logic must be used consistently to first measure the pullback. Then a set of repeatable rules/logic is used to identify trading signals when that pullback has found support or resistance within those measured pullback zones. The xBrat Slingshot Software does this all automatically using the following logic.
Long trade
If False Breakout Stochastics (Stoch) closes below 20%, and then closes above 80%, identify a swing low as the lowest price reached since the close below 20%.
When Stoch then closes back down below N%, the algorithm will identify a swing high as the highest price reached since the close above 80.
Behind the chart the software draws a fib retracement from swing low to swing high.
If price ever closed below the 61.8 at any time between the swing high bar and the bar that closed below N%, the software cancels the setup (and undraws pullback zone visuals).
Otherwise our software draws pullback zones at the following fib percentages that are commonly used when measuring pullbacks against a trend.
Pullback zone 1: 23.6-38.2 (default green, light opacity)
Pullback zone 2: 38.2-50 (default green, medium opacity)
Pullback zone 3: 50-61.8 (default green, dark opacity)
If price enters (either closes inside of or touches) a pullback zone and then closes above it without ever closing past (below) it, the setup is confirmed and fib extension targets are drawn (distance from high swing to end of the pullback, extended from the end of the pullback):
Target zone 1: 110-127 (default green, light opacity)
Target zone 2: 161-176 (default green, medium opacity)
Target zone 3: 262-286 (default green, dark opacity)
If price closes past (below) Pullback zone 3 before the setup is confirmed, cancel the setup (and undraw visuals).
Once target zones are drawn, the setup is confirmed and never undrawn.
Short trade
Reverse of the above long trade logic.
Pullback confirmation value: N%
Default zone colour: Red
Once the pullback zone is identified and sufficient initial Support or Resistance occurs within the pullback zones, they are locked along with the target Target Zones for the current move.
Then further confluences are used with our proprietary logic to identify 3 types of Trading Signals. Just because we have a pullback during a trend, doesn't mean we are going to get straight back to the trend. We have identified 2 special sets of confluences that occur in a predefined order to ensure the trend is being returned to with momentum.
These are the Type 1 and Type 2 Trading Signals Below. Then we have another set of circumstances/confluence for when a Trend Fails and traders need to be able to trade these. This is the 3rd type of Trade, a Type 3 below.
Type 1 Trade Signals - Trend Continuation - The following MUST occur within the 3 pullback zones. This signal uses Crosses of Fast and Slow EMA’s which denote the switch back for slingshot and the trend to resume in its original direction after a measured pullback. Then we apply our proprietary EMA cloud for moving out of the pull back zones as a final confirmation for the signal to be Printed.
Type 1 Buy Signals: Fast EMA (default period N, displacement 0) closes below the slow EMA (default period N, displacement N) while in a green pullback zone, and then the fast EMA closes back above the slow EMA without price ever breaking below the last pullback zone (green zones must still be printing). Draw a horizontal line N ticks for entry above the close of the confirmation bar and extend until the lower EMA cloud line breaks it – at which point the lower EMA cloud line is shown as trailing stop
Type 1 Sell Signals: Fast EMA (default period N, displacement 0) closes above the slow EMA (default period N, displacement N) while in a red pullback zone, and then the fast EMA closes back below the slow EMA without price ever breaking above the last pullback zone (red zones must still be printing). Draw a horizontal line N ticks below the close of the confirmation bar and extend until the upper EMA cloud line breaks it – at which point the upper EMA cloud line is shown as trailing stop.
These are the most common of the trading signals when price action follows all of our standard logic rules for a pullback and starts to return in the direction of the main trend after the measured pullback. The highest probability move is to Target 2.
Type 2 Trades - Trend Continuation - For this signal type the Fast and Slow EMA’s DO NOT Cross. BUT price action has to Enter our proprietary EMA cloud and close in the cloud. Then on a set “N” bars must move back out and close outside of the EMA Cloud back in the direction of the original trend. Again, All this must be done within the Pull back Zones.
Type 2 Buy Signal: A bar closes below the upper cloud line while in a green pullback zone, and then within N bars, a bar closes above the upper cloud line without ever breaking below the last pullback zone or the lower EMA Cloud line (green zones must still be printing). Draw a horizontal line N ticks above the close of this bar and extend until the lower EMA cloud line breaks it – at which point the lower EMA cloud line is shown as trailing stop.
Type 2 Sell Signal: A bar closes above the lower cloud line while in a red pullback zone, and then within N bars, a bar closes below the lower cloud line without ever breaking above the last pullback zone or upper EMA cloud line (red zones must still be printing). Draw a horizontal line N ticks below the close of this bar and extend until the upper cloud line breaks it – at which point the upper cloud line is shown as trailing stop.
These are Shallow pullbacks, but still hit the pullback zones. The price action in this instance returns to the direction of the main trend more quickly but still follows a different set of rules to that of Type 1 trades. The Highest Probability move is to target Two
Type 3 Trades - Trend failure - These are trend failure signals where the pullback zones are printed but the price action does not return to the main trend, BUT breaks the third pullback zone and breaks the slingshot rules for a Trend following trade setup. Our proprietary EMA Cloud positioning is then used to confirm and print the signal once the leading edge( direction dependent) moves out of the last pullback zone and we get a candle close with “N” percentage of the pull backs zone's depth.
Type 3 Buy Signal: A bar closes above the highest red pullback zone without pricing previously having ever touched the first red target zone for previous short with trend move. Draw a horizontal line N ticks above the close of the bar that broke the last zone and extend until the lower cloud line breaks it – at which point the lower cloud line is shown as a trailing stop.
Type 3 Sell Signal: A bar closes below the lowest green pullback zone without pricing having ever touched the previous first green target zone for previous long with trend move. Draw a horizontal line N ticks below the close of the bar that broke the last zone and extend until the upper cloud line breaks it – at which point the upper cloud line is shown as a trailing stop.
The Trailing Stop Line is also printed to help with trade management of these 3 different types of trades. This EMA trailing stop is adjustable.
This strategy is designed for Scalping, Day Trading and even Swing Trading. Works with Forex, Crypto, Futures and Stocks.
Fibonacci Time PeriodsThe " Fibonacci Time Periods " indicator uses power exponents of the constant Phi based on your custom time period to generate Fibonacci sequence-based progression on a given chart. This tool can help to anticipate the timing of potential turning points by highlighting Fib time zones where significant price movements may occur.
It is different from other alternatives specifically for the ability to alter the rate of progression .
Most famous regular Fib sequence expands with 1.618^(n+1) rate which produces vast change just after few iterations.
Those ever-expanding big intervals don't allow us to cover the smaller details of the chart which we might find crucial. So, the idea was born to break down the constant Phi to a self-fraction using power exponents. In other words, reducing rate of progression to make the expansion more gradual without losing properties of Fibonacci proportions.
Default settings have a rate of 0.25 which is basically Phi^1/4
That means we expect 4x more lines than in regular sequence to cover missing bits owing to formula: 1.618^(0.25*(n+1))
(Line 0.618 is added to enhance visual orientation and perception of proportions)
How it works:
Exponential rate of progression
First, it works out the difference between your custom start (0) and end (1) period
The result is multiplied by 1.618^rate to get the step
Rest lines are created by iterations. For instance, with default rate of 0.25, the 1st generated line = start + (End-Start)*1.618^0.25* 1 , second line = start + (End-Start)*1.618^0.25* 2 , etc.
If we change the rate to 1 it will produce the regular fib sequence with 1.618^(n+1) rate
Fixed rate of progression:
In this mode, when rate is 0.25, it grows exactly with exponent step of 0.25 so first, second, third, etc generated lines also have the fixed exponent of 0.25. The distance between lines do not expand.
How to use:
Set the start and end dates
Choose the type of progression
Choose your desired rate of progression
Customize the colors to match your chart preferences.
Observe the generated Fibonacci time intervals and use them to identify potential market movements and reactions.
Liquidity Dependent Price Movement AlgorithmLiquidity-Dependent Price Movement (LDPM) is a metric designed to directly measure liquidity on a equity in real time, and to translate those measurements into signals to provide insights into where the anticipate price-direction is headed.
Liquidity can be characterized as a way of measuring how smoothly things are running in the market. When things are running smoothly – such as when there is good agreement as to the price of an asset, then things are considered liquid. Conversely, when things are not running smoothly, just as when the bid or the ask do not agree with each other, then things are considered not liquid. These different states have different outcome liklihoods.
In a liquid environment, a stock can trade a lot of shares without moving the price. On the other hand, when a stock is not liquid, even small volumes can move the price substantially.
It is therefore helpful to know when a stock is liquid to the upside or to the downside, or even, when a stock is not liquid to the upside or the downside. These data have statistical associations with future price movement and volatility.
The use of LDPM is straightforward:
If the price is above LDPM: bullish outlooks.
If the price is below LDPM: bearish outlooks.
There are a few key differences about LDPM as compared to other indicators, namely that timeframe matters . That means, LDPM will tailor its output to the timeframe selected. The advantage of this is that it allows LDPM to be "tailored" to the specific timeframe as desired, without having to do any conversions or adaptations mentally.
Key Settings and Configurations:
Setting - Smoothing Type of LDPM :
Default: KF.
LDPM can be smoothened if desired. There are 5 different types of smoothing available:
EMA : Exponential Smoothing
SMA : Simple Smoothing
WMA : Weighted Smoothing
RMA : Modified Smoothing
KF : Kellman Smoothing
The default is "KF" for Kellman Smoothing.
Setting - Include LDPM-Granular :
Default: Off.
LDPM-Granular is the more "raw" form of LDPM that displays the candle-specific result, rather than the smoothened result. This can be toggled on or off, if desired. LDPM granular is helpful for looking at candle-specific
Setting - Place LDPM Standard :
Default: Off.
An additional, single, LDPM line can be placed via this toggle. Settings for this LDPM can be configured directly below toggle.
Setting - Place LDPM-Fib :
Default: On.
LDPM-Fib is a default setting for displaying 5 LDPMs (LDPM-13, LDPM-21, LDPM-34, LDPM-55, and LDPM-89) whose lookbacks are spaced via the Fib sequence. Useful for those who enjoy a static relationship between the different "layers" of LDPM.
Setting - Place LDPM-Reference :
Default: Off.
Since LDPM is time-interval dependent, there may be times when a higher-order timeframe is desired to act as a reference. For instance, suppose you want to go long if the 1-Hour LDPM experiences a bullish crossover, but you want to scalp shorts on the 15-minute timeframe until then. Then you could place the chart on the 15-minute interval for your scalping, and then place a 1-Hour reference LDPM that will show you when the 1-Hour LDPM and price experience a crossover.
Note: The reference must be a higher-order timeframe. So if your chart is on the 15-minute, you can only reference timeframes greater than 15.
Setting - LDPM Box Creation :
Default: On.
Instead of implementing a reference LDPM, it is possible to display the other timeframes in a data table with conditional coloring for if the overall LDPM-Price relationship is bullish or bearish.
Why Chose LDPM
There are no other Liquidity-measuring indicators available to the retail investor. Measuring liquidity often requires the use of expensive data and high-throughput computing to be used in real-time. Neither of these requirements apply to utilizing LDPM.
Additionally, the data are supportive that LDPM provides statistically significant, price-direction-correct outlooks.
Measured MoveThis indicator was made for those who look to profit on “Measured Moves.”
Upon opening the settings one will need to set the time to begin (Start Time in settings) the colored background of the potential move areas, and the high (First Price Level in settings) and low (Second Price Level in settings) prices for the measured area for the measured move.
After those are selected they can be easily moved on the chart. I created a table for the user to tap with the pointer to highlight the setting lines for easy adjustment.
Measured moves are used by some algo’s and some traders to determine the take profit levels. They are moves from a particular pattern conclusion to a distance equal to that distance in the desired direction.
This is an image of the measured move which occurred on Dec 13th, 2023 at about 1pm on the ES 1m chart:
The center area in lightly shaded blue is the measured area. The green and red would be the same distance and would equate to the measured move distance.
This example shows the same day – the second move up was a measured move by some traders:
www.tradingview.com
Again, the same day on the way down. This one didn’t quite complete the move:
Again, same day on the way back up – almost perfect:
And, finally, the same day for the last move up:
This indicator will require the user to know what to look for in creating the measured movement. The script is quite simple – but, can be effective in assisting a user to know potential profit targets.
I conducted several searches for “measured move” and found no other indicators that provide this functionality. I understand that one could use fibs to do the same thing – but, I didn’t want to have to alter the fib settings (which I use for actual fibs) to perform this functionality.
Please comment with any questions/suggestions/etc.
Fibonacci compressionThis script will search x-bars back, if it can find a triangle formation that meets certain Fibonacci ratios.
Based on the trend-based fib extension tool from the first high to the first low and then the 2nd high (in a bullish structure, inverse for bearish), we can predict the take profit levels.
The main target is the 0.618, first take profit is at the 0.236. In a strong trend, one can aim for the 1 fib ratio.
Once the 3 points are known, the script will already plot the take profit levels. It is better to wait until the full pattern develops with a 2nd lower high and a 2nd higher low.
The way I use it, is closing 20% at TP1, 80% of the remainder at TP2 and final close out at TP3.
Stop loss is the red line which will show up after a full pattern is formed.
Plot out the profit levels with the trend based fib extension tool, because once there's a break-out of the pattern, the script won't show the compression any more. (or use the replay button to go back in time to plot it again)
The volume label will appear once there's a divergence between the low and higher low or the high and lower high. It is based on my cumulative volume script. It only works well on timeframes above 4 hour, but volume in favor of a short, doesn't always guarantee a good short setup, so don't take it for granted.
It has around a 30 - 33% chance of hitting your TP2, so make sure the risk to reward is at least 3.
Happy trading!
Harmonic Pattern Detection, Prediction, and Backtesting ToolOverview:
The ultimate harmonic XABCD pattern identification, prediction, and backtesting system.
Harmonic patterns are among the most accurate of trading signals, yet they're widely underutilized because they can be difficult to spot and tedious to validate. If you've ever come across a pattern and struggled with questions like "are these retracement ratios close enough to the harmonic ratios?" or "what are the Potential Reversal levels and are they confluent with point D?", then this tool is your new best friend. Or, if you've never traded harmonic patterns before, maybe it's time to start. Put away your drawing tools and calculators, relax, and let this indicator do the heavy lifting for you.
- Identification -
An exhaustive search across multiple pivot lengths ensures that even the sneakiest harmonic patterns are identified. Each pattern is evaluated and assigned a score, making it easy to differentiate weak patterns from strong ones. Tooltips under the pattern labels show a detailed breakdown of the pattern's score and retracement ratios (see the Scoring section below for details).
- Prediction -
After a pattern is identified, paths to potential targets are drawn, and Potential Reversal Zone (PRZ) levels are plotted based on the retracement ratios of the harmonic pattern. Targets are customizable by pattern type (e.g. you can specify one set of targets for a Gartley and another for a Bat, etc).
- Backtesting -
A table shows the results of all the patterns found in the chart. Change your target, stop-loss, and % error inputs and observe how it affects your success rate.
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// Scoring
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A percentage-based score is calculated from four components:
(1) Retracement % Accuracy - this measures how closely the pattern's retracement ratios match the theoretical values (fibs) defined for a given harmonic pattern. You can change the "Allowed fib ratio error %" in Settings to be more or less inclusive.
(2) PRZ Level Confluence - Potential Reversal Zone levels are projected from retracements of the XA and BC legs. The PRZ Level Confluence component measures the closeness of the closest XA and BC retracement levels, relative to the total height of the PRZ.
(3) Point D / PRZ Confluence - this measures the closeness of point D to either of the closest two PRZ levels (identified in the PRZ Level Confluence component above), relative to the total height of the PRZ. In theory, the closer together these levels are, the higher the probability of a reversal.
(4) Leg Length Symmetry - this measures the ΔX symmetry of each leg. You can change the "Allowed leg length asymmetry %" in settings to be more or less inclusive.
So, a score of 100% would mean that (1) all leg retracements match the theoretical fib ratios exactly (to 16 decimal places), (2) the closest XA and BC PRZ levels are exactly the same, (3) point D is exactly at the confluent PRZ level, and (4) all legs are exactly the same number of bars. While this is theoretically possible, you have better odds of getting struck by lightning twice on a sunny day.
Calculation weights of all four components can be changed in Settings.
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// Targets
//------------------------------------------------------
A hard-coded set of targets are available to choose from, and can be applied to each pattern type individually:
(1) .618 XA = .618 retracement of leg XA, measured from point D
(2) 1.272 XA = 1.272 retracement of leg XA, measured from point D
(3) 1.618 XA = 1.618 retracement of leg XA, measured from point D
(4) .618 CD = .618 retracement of leg CD, measured from point D
(5) 1.272 CD = 1.272 retracement of leg CD, measured from point D
(6) 1.618 CD = 1.618 retracement of leg CD, measured from point D
(7) A = point A
(8) B = point B
(9) C = point C
//------------------------------------------------------
// Stops
//------------------------------------------------------
Stop-loss levels are also user-defined, in one of three ways:
(1) % beyond the furthest PRZ level (below the PRZ level for bullish patterns, and above for bearish)
(2) % beyond point D
(3) % of distance to Target 1, beyond point D. This method allows for a proper Risk:Reward approach by defining your potential losses as a percentage of the potential gains. This is the default.
//------------------------------------------------------
// Results Table / Backtesting Statistics
//------------------------------------------------------
To properly assess the effectiveness of a specific pattern type, a time limit is enforced for a completed pattern to reach the targets or the stop level. When this time limit expires, the pattern has "timed out", and is no longer considered in the Success Rate statistics. During the time limit period, if price reaches Target 1 before reaching the Stop level, the pattern is considered successful. Conversely, if price reaches the Stop level before reaching Target 1, the pattern is considered a failure. The time limit can be changed in Settings, and is defined in terms of the total pattern length (point X to point D). It is set to 1.5 by default.
Increasing the time limit value will give you more realistic Success Rate values, but will less accurately represent the success rate of the harmonic patterns (i.e. the more time that elapses after a pattern completes, the less likely it is that the price action is related to that pattern).
//------------------------------------------------------
// Coming soon...
//------------------------------------------------------
I have a handful of other features in development, including:
(1) Drawing incomplete patterns as they develop. This will allow you more time to plan entries and stops, or potentially trade reversals from point C to point D PRZ levels.
(2) Support for the Shark and Cypher patterns
(3) Alerts
Please report any bugs, runtime errors, other issues or enhancement suggestions.
I also welcome any feedback from experienced harmonic pattern traders, especially regarding your strategy for setting targets and stop-losses.
@reees
Market Structure Break & Order Block by EmreKbThis indicator shows the market structure break (msb) and order blocks (ob). Msb occurs after the breakout old high when the price make lower lows or occurs after the breakout old low when the price make higher highs. OB occurs after the msb, ob is the last bullish candle before high if msb is bearish but if the msb is bullish then ob is the last bearish candle before low.
Zigzag Lenght - A number for the zigzag calculation
Show Zigzag - Show/Hide Zigzag lines
Fib Factor - Fib level for the breakout confirmation. For example if new high larger than old high to low fib 1+fib_factor when the down trend then it's a breakout.
Saty ATR LevelsThis indicator uses the previous period close and +/- 1 ATR to display significant day, multiday, swing, and position trading levels including:
- Trigger clouds for possibly going long/short @ 23.6 fib
- Mid-range level at 61.8 fib
- Full range level at +/- 1 ATR (from previous close)
- Extension level at 161.8 fib
Additionally, a convenient info table is provided that shows trend, range utilization, and numerical long/short values.
This indicator is most beneficial when you combine it with price, volume, and trend analysis. For educational content please check out the indicator website at atrlevels.com.
I am constantly improving this indicator, please use this one if you want to continue to get new features, bug fixes, and support.
MTF Vegas tunnel & pivots A script made to simplify trend identification, major and minor pivot but also bollinger band based signal
It is composed of a suite of indicators tuned to match my trading style. Feel free to tune settings.
Multi timeframe vegas tunnel
As you know, vegas tunnel are composed of 3 ema (144, 169, 233) which you can tune length in the parameters. Those are used to identify possible support & resistance zone.
Having support & resistance allow you to easily identify the trend. But what is even better is to be able to always have an global view of the market
without having to switch time frame. This is why vegas tunnel are displayed from 1m to Daily (1m, 5m, 15m, H1, H4 & D).
This is to be able to identify trend/support/resistance on a given timeframe while keeping an eye on the upper timeframe
Major and minor pivot:
This part is based on benchch Major and Minor Fib points
It will highlight high and low if no new high or low has been established for a given period of time.
Super useful to find high and low to draw fib retracement to find your trade entry point, SL, PTP and TP
BB% Signal:
Last but not least BB signal. This is based on the TV indicator BB% indicator but adding signal on chart when crossing up or down 0.8 & 0.2.
It allow you to potentially find weakness in the current movement and should alarm you that it might be time to find an entry or get out of your current trade.
WhaleCrew OverlayThis overlay is all about looking for confluence, and this is achieved by combining the power of Support/Resistance trading and Moving Averages.
Features
Support and Resistance
Trend Visualization
Fib Ribbons
Moving Average System
Intraday Tools
Support and Resistance
This involves Daily Levels (High, Low, Open, and Range Center), Weekly Levels (Open, High and Low), as well as the Monthly/Quarterly/Yearly Open.
Automatically having these support/resistance levels on your chart no matter what timeframe you're on is a big advantage, they can be used as confluence levels for potential trades.
Trend Visualization
Our trend component visualizes the current trend using two moving averages. There are multiple inbuilt modes that should be picked based on your trading style.
Use this indicator as confluence and don't rely solely on it.
Fib Ribbons
Our Fib Ribbons are a bundle of multiple EMAs with custom timeframe built-in. Unlike EMA Ribbons our EMA lengths are only based on Fibonacci Numbers.
The numbers of EMAs is four by default (fastest: 8, slowest: 34), but EMA 5 & 55 can be manually enabled.
The ribbons will act as support in an uptrend and as resistance in a downtrend. A ribbon cross often indicates a potential trend change.
Moving Average System
Build a system around 2 custom moving averages for more confluence (supports custom timeframes and many moving average types).
The moving averages can be used for generating signals whenever they cross, or as possible support/resistance.
Intraday Tools
We also support intraday tools like VWAP (Volume-Weighted-Average Price) and TWAP (Time-Weighted-Average-Price).
They differ from normal moving averages by taking volume/time into account and will act as potential support/resistance (commonly used by big market participants).
Usage
You should look for price levels where moving averages and support/resistance are lined up for confluence.
Closely monitor price action near important price levels for potential trade setups:
Consolidation right below resistance is considered bullish
Consolidation right at support might be considered bearish
Watch out for rejections and retests (also counts for moving averages)
Access to this indicator can be obtained through our website.
Universal logarithmic growth curves, with support and resistanceLogarithmic regression is used to model data where growth or decay accelerates rapidly at first and then slows over time. This model is for the long term series data (such as 10 years time span).
The user can consider entering the market when the price below 25% or 5% confidence and consider take profit when the price goes above 75% or 95% confidence line.
This script is:
- Designed to be usable in all tickers. (not only for bitcoin now!)
- Logarithmic regression and shows support-resistance level
- Shape of lines are all linear adjustable
- Height difference of levels and zones are customizable
- Support and resistance levels are highlighted
Input panel:
- Steps of drawing: Won't change it unless there are display problems.
- Resistance, support, other level color: self-explanatory.
- Stdev multipliers: A constant variable to adjust regression boundaries.
- Fib level N: Base on the relative position of top line and base line. If you don't want all fib levels, you might set all fib levels = 0.5.
- Linear lift up: vertically lift up the whole set of lines. By linear multiplication.
- Curvature constant: It is the base value of the exponential transform before converting it back to the chart and plotting it. A bigger base value will make a more upward curvy line.
FAQ:
Q: How to use it?
A: Click "Fx" in your chart then search this script to get it into your chart. Then right click the price axis, then select "Logarithmic" scale to show the curves probably.
Q: Why release this script?
A: - This script is intended to to fix the current issues of bitcoins growth curve script, and to provide a better version of the logarithmic curve, which is not only for bitcoin , but for all kinds of tickers.
- In the public library there is a hardcoded logarithmic growth curve by @quantadelic . But unfortunately that curve was hardcoded by his manual inputs, which makes the curve stop updating its value since 2019 the date he publish that code. Many users of that script love using it but they realize it was stop updating, many users out there based on @quantadelic version of "bitcoin logarithmic growth curves" and they tried their best to update the coordinates with their own hardcode input values. Eventually, a lot of redundant hardcoded "Bitcoin growth curve" scripts was born in the public library. Which is not a good thing.
Q: What about looking at the regression result with a log scale price axis?
A: You can use this script that I published in a year ago. This script display the result in a log scale price axis.
Support Resistance Zones using confluence & Std. DeviationOverview:
This indicator takes (interactive) input from the user for support and resistance levels and plots important zones considering the other confluence levels in the indicator.
Working of indicator:
This indicator takes six input of Support/resistance level form the user
It has following 32 confluence levels
a.4 Recent positive Divergence levels (DN1, DN2, DN3, DN4)
b.4 recent negative divergence levels (DP1, DP2, DP3, DP4)
d.5 Fibonacci levels (Fib0, Fib236, Fib5, Fib618, Fib786)
e. 7 Pivot levels (P, PR1, PR2, PR3, PS1, PS2, PS3)
f.4 EMAs (E20, E200, E100, E50)
g. ATH, ATL, Weekly High, Weekly Low, two days ago high, two days ago low, previous day high , previous day low
The code checks nearest ‘n’ CONFLUENCE for each level (“Number of confluences to check”) in the indicator, after getting the nearest confluence it calculates the standard deviation of those levels WITH RESPECT TO THE MANUAL INPUT LEVELS.
If the Std. Deviation is less than the input value (“Minimum standard deviation” option) then the zone is displayed on the chart.
How to use:
Add the indicator on the chart select your important support and resistance levels.
Set standard deviation, if the confluence is less than the input standard deviation then you will see those zones on the chart.
You can display all divergence levels; you can display all fib levels. All confluences can be displayed by using the setting of the indicator
How to read the indicator values:
The zone will show all the confluence it has in its zone,
Example:
Table details:
The table shows the maximum and minimum deviation out of all six levels .To see at least one zone you have to make sure that Input value Std. Deviation must be greater than Min Std. Deviation of the table
Sources & refences :
Big thank to www.pinecoders.com and kodify.net
Standard deviation :
www.investopedia.com
function to find 'k' closest elements :
www.techiedelight.com
Interactive support resistance :
Divergence for many indicators:
Auto fib level by DGT:
www.tradingview.com
+ Donchian ChannelsThis version of Donchian Channels uses two source options so that one can create a channel using highs and lows rather than one or the other or closes. My thinking was that this would create a more accurate portrayal of price action (or at least contain the greatest scope of it) as seen through the lens of a Donchian Channel. This was actually part of the genesis of my idea around my Ultimate Moving Average.
Besides the single top and bottom plot for the DC's extremities, I've enabled the ability to create outer bands with a variable width that the user can adjust to their preference. I think it's quite nice. I use it in the DC in my other non-overlay indicators.
Besides this additional functionality, the indicator has options to plot lines between the basis and the upper and lower bands, so, basically, splitting the upper and lower channel in half.
There is no magic number to the lookback. I chose 233 as default because it's a fibonacci sequence number and I'm more interested in using the DC like a very long period bias indicator, and the longer lookback gives a much wider window (because highs and lows are so spread apart) with which other faster indicators (supertrend, shorter period moving averages, etc.) can work without making the screen a clutter.
The color of the basis may also be made relevant to higher timeframe information. What I mean by this is that you can set it so that the basis of the current timeframe is colored based on the candle close of the higher timeframe of your choosing. If you're looking at an hourly chart, and you set the color to Daily, the basis will be colored based on the candle close (above or below the basis) of the previous day. If the previous daily close was above the basis, that positive color will be reflected in the basis, even if the current hourly candle closes are below the hourly basis. This could potentially be useful for setting a higher timeframe directional bias and reacting off price crossing the lower timeframe basis (or whatever your trigger for entering a trade might be). This is also optional in my Ultimate Moving Average indicator.
You can also set the entire indicator to whatever time frame you want if you want to see where the actual basis, or other levels are on that higher timeframe.
Further additions include fibonacci retracement levels. These are calculated off the high and the low of the Donchian Channels themselves.
You will see that there are only three retracement levels (.786, .705, .382), one of which is not a fib level, but what some people call the 'OTE,' or optimal trade entry. If you want more info on the OTE just web search it. So, why no .618 or .236? Reason being that the .618 overlaps the .382, and the .236 is extremely close to the .786. This sounds confusing, but the retracement levels I'm using are derived from the high and low, so it was unnecessary to have all five levels from each. I could have just calculated from the high, or just from the low, and used all the levels, but I chose to just calculate three levels from the high and three from the low because that gives a sort of mirror image balance, and that appeals to me, and the utility of the indicator is the same.
The plot lines are all colored, and I've filled certain zones between them. There is a center zone filled between both .382 levels, and an upper and lower zone filled between the .786 and either the high or the low.
If you like the colored zones, but don't like the plots because they cause screen compression, turn off the plots under the "style" tab.
There are alerts for candle closes across every line.
I should state that, regarding the fibs, obviously the length of the Channels is going to affect to what levels price retraces to. A shorter lookback means you will see more changes in highs and lows, and therefore retraces are often going to be full retraces within the bands unless price is trending hard. A longer lookback means you will see smaller retraces. Using this in conjunction with key high timeframe levels and/or a moving average can give great confidence in a trade entry. Additionally, if you have a short bias it may help in finding levels or entering a trade on a pullback. It could also be good for trade targets. But again, the lookback you choose for this indicator is going to dictate its use in the system you're building or already have. A 9 EMA and a 200 EMA, while fundamentally the same, are going to be used somewhat differently while doing your chart analysis.
Additional images below.
Same image as main, but with supertrend and my +UMA to help with chart analysis.
Image with the fib stuff turned on.
Zoomed out image with the same.
Shorter lookback period.
Zoomed in image of shorter lookback.
PROFIT INDICATORFirst let me tell you which indicators have been used in this script so that you have the confidence while taking the trade:
(a) Bollinger Band with 20 SMA Inside it - Currently it is off, you can turn it on from settings.
(b) HMA 33, I have added the option of using two HMA's simultaneously. You can use HMA, EMA, SMA as per your settings and it would be color trending.
(c) VWAP- you can turn it on from settings
(d) CPR- you can turn it on from settings
(e) EMA's 20, 50, 200. Currently off, you can turn it on from settings.
(d) SMA's 50 and 200. Currently off, yu can turn it on from settings, if you want to use 20 SMA you can use bollinger band basis that is 20 period SMA.
(f) Trend bar at bottom on the basis of 50 EMA.
(g) Half Trend
(h) Trend strength Detector
(d) EMA 50 high and low to show the pac channel. I am not using this however as per request I have added this. Currently, it is trun on and you can turn it off from settings.
(f) Auto Fib levels
Please use a stick note for few days and mention imp notes before taking trade to check if all the conditions are matching to take the trade.
Buy Condition:-
1. Bolling band should be widely open.
2. Check the support and resistance from CPR. Candle should close above support in green.
3. Check the trend bar at bottom, it should be green, if it is grey in colour dont enter in trade.
4. Candle should be closing above EMA 50 and its upto you if you need additional confirmation, you can use EMA 20, 50, 200 and SMA 50 and 200, this is optional.
5. You can use VWAP as support or resistance and you can turn it on from settings.
6. Trending HMA of 33 should be in green for buy.
7. Half trend Indicator should give buy signal.
8. Trend Strength Indicator for checking the strength of the trend, if the arrow is big upside, you can go for buy.
9. Exit from buy trade when it start showing very small arrow which means trend is about to change.
10.Exit buy trade at 61.8 Fib level
Sell Condition:-
1. Bolling band should be widely open.
2. Check the support and resistance from CPR. Candle should close below resistance in red.
3. Check the trend bar at bottom, it should be red, if it is grey in colour dont enter in trade.
4. Candle should be closing below EMA 50 and its upto you if you need additional confirmation, you can use EMA 20, 50, 200 and SMA 50 and 200, this is optional.
5. You can use VWAP as support or resistance and you can turn it on from settings.
6. Trending HMA of 33 should be in red for sell.
7. Half trend Indicator should give sell signal.
8. Trend Strength Indicator for checking the strength of the trend, if the arrow is big downside, you can go for sell.
9. Exit from sell trade when down arrows start showing very small in size which means trend is about to change.
10.Exit sell trade at 61.8 Fib level
Linear Regression & RSI Multi-Function Screener with Table-LabelHi fellow traders..
Happy to share a Linear Regression & RSI Multi-Function Custom Screener with Table-Labels...
The Screener scans for Linear Regression 2-SD Breakouts and RSI OB/OS levels for the coded tickers and gives Summary alerts
Uses Tables (dynamica resizing) for the scanner output instead of standard labels!
This Screener cum indicator collection has two distinct objectives..
1. Attempt re-entry into trending trades.
2. Attempt Counter trend trades using linear regression , RSI and Zigzag.
Briefly about the Screener functions..
a. It uses TABLES as Labels a FIRST for any Screener on TV.
b. Tables dynamically resize based on criteria..
c. Alerts for breakouts of the UPPER and the LOWER regression channels.(2 SD)
d. In addition to LinReg it also Screens RSI for OB/OS levels so a multifunction Screener.
e. Of course has the standard summary Alerts and programmable format for Custom functions.
f. Uses only the inbuilt Auto Fib and Lin Reg code for the screener.(No proprietary stuff)
g. The auto Zigzag code is derived(Auto fib).
Question what are all these doing in a single screener ??
ZigZag is very useful in determining Trend Up or Down from one Pivot to another.
So Once you have a firm view of the Current Trend for your chosen timeframe and ticker…
We can consider few possible trading scenarios..
a. Re-entry in an Up Trend - Combination of OS Rsi And a Lower Channel breach followed by a re-entry back into the regression channel CAN be used as an effective re-entry.
b. Similarily one can join a Down Trend on OB Rsi and Upper Channel line breach followed by re-entry into the regression channel.
If ZigZag signals a range-bound market, bound within channel lines then the Upper breakout can be used to Sell and vice-versa!
In short many possibilities for using these functions together with Scanner and Alerts.
This facilitates timely PROFITABLE Trending and Counter trend opportunities across multiple tickers.
You must give a thorough READ to the various available tutorials on ZigZag / Regression and Fib retracements before attempting counter trend trades using these tools!!
A small TIP – Markets are sideways or consolidating 70% of the time!!
Acknowledgements: - Thanks a lot DGTRD for the Auto ZigZag code and also for the eagerness to help wherever possible..Respect!!
Disclaimer: The Alerts and Screener are just few tools among many and not any kind of Buy/Sell recommendations. Unless you have sufficient trading experience please consult a Financial advisor before investing real money.
*The alerts are set for crossovers however for viewing tickers trading above or below the channel use code in line 343 and 344 after setting up the Alerts!
** RSI alerts are disabled by default to avoid clutter, but if needed one can activate code lines 441,442,444 and 445
Wish you all, Happy Profitable Trading!
RedK_Fibonacci on Doncian (RedK_FibDC_v1)this is a quick script that gives the ability to plot a simple Doncian Channel with optional Fibonacci levels calculated against the DC channel breadth.
a Doncian channel is simply a channel that represents the highest high and lowest low of the price for a certain period (number of bars) -- the concept of watching these extreme values is the basis of many other technical indicators in chart analysis.
A script like this may come useful for setting entry and exit levels and can be used to plot the DC & Fib levels for a higher resolution than the chart - in the example, we're looking at the DC & its Fib levels for the daily resolution on a 30-min chart.
there are 3 adjustable levels that are set by default to 0.368, 0.618, and 1.272 -- and they can be set to any other levels we need to monitor - not necessarily Fib-based at all - say to determine a possible breakout or breakdown... etc
this script makes use of the "resolution" and "inline / group" features (powers) of Pine :)
Currencies %R Heatmap screenerThis script is for Forex combinations of the following currencies: USD, EUR, GBP, JPY, CHF, AUD, NZD, CAD
- It uses security function to get 28 currency pairs, so that it may cost a few seconds to paint.
- It calculates %R of currencies and paint with fib color mentioned on my other script Williams %R Color Map
- Normally fib more currency stronger, and fib less the currency weaker. If too big or too small, considering trend change.
I always put on 3 charts with 1h, 5h ,1D to have a quick view.
Automatic Fibonacci Retracements [MS]Automatic Fibonacci Retracement Level indicator for any time frame, any asset.
Simple to use, just add to your chart and set the size of retracements you want to see.
Fib levels keep drawing in real time until the next low or high is found to start drawing the next fib.
Settings Include
• Fib size
• Show prices
• Draw low-to-high or high-to-low
• Toggle fib levels
Use the link below or PM us to obtain access to this indicator.
A Fibonacci Moving Averages Ribbon Using One PlotThe following script aims to visually reproduce a Fibonacci moving averages ribbon by only using one plot function, the period of the moving average is determined by a number of the Fibonacci sequence. This trick is made possible by computing the value of a moving average at time t with a period determined by a periodic Fibonacci sequence and using plot.style_circles as plot style.
Settings
From Fibonacci Number: Determine the n th Fibonacci number to be used as the lowest moving average period
To Fibonacci Number: Determine the n th Fibonacci number to be used as the highest moving average period, capped at 19 to avoid errors. If you still have errors lower the value.
Src : input series of the moving average.
Details
The first thing we must do is to compute a periodic (repeating) linear sequence n from the number in From Fibonacci Number to the number in To Fibonacci Number , then we get the n th Fibonacci number from the previous sequence using Binet's formula.
To get the moving average we first compute the fib period momentum of the cumulative sum of Src , where fib is the current number of our periodic Fibonnacci sequence, we then divide the result by fib .
If we zoom in we can indeed see that there is only one point per bar.
However, zooming out and using a different color for each point allows us to get something visually similar to a ribbon. Adding more plots would create a visually more accurate result.
This trick is not the most useful in the world, but let's imagine you want to plot a massive ribbon consisting of 1000 moving averages with periods that can be determined by a specific sequence, using this trick would allow you to have the effect of 1000 plots while keeping your script relatively efficient, altho ribbons consisting of lots of moving averages are rarely easy to visualize.
BTC 1D Alerts V1This script contains a variety of key indicator for bitcoin all-in-one and they can be activated individually in the menu. These are meant to be used on the 1D chart for Bitcoin.
1457 Day Moving Average: the bottom of the bitcoin price and arguably the rock bottom price target.
Ichimoku Cloud: a common useful indicator for bitcoin support and resistance.
350ma fibs (21 8 5 3 2 and 1.6) : Signify the tops of each logarthmic rise in bitcoin price. They are generally curving higher over the long term. For halvening #3, the predicted market crash would be after hitting the 350ma x3 fib. Also the 350 ma / 111 ma cross signifies bull market top within about 3 days as well. Using the combination of the 350ma fibs and the 350/111 crosses, reasonably identify when market top is about to occur.
50,120,200 ma: Common moving averages that bitcoin retests during bull market runs. Also, the 50/200 golden and death crosses.
1D EMA Superguppy Ribbons: green = bull market, gray is indeterminate, red = bear market. Very high specificity indicator of bull runs, especially for bitcoin. You can change to 3D candle for even more specificity for a bull market start. Use the 1W for even more specificity. 1D Superguppy is recommended for decisionmaking.
1W EMA21: a very good moving average programmed to be shown on both the daily and weekly candle time. Bitcoin commonly corrects to this repeatedly during past bull runs. Acts as support during bull run and resistance during a bear market.
Steps to identifying a bull market:
1. 50/200 golden cross
2. 1D EMA superguppy green
3. 3D EMA superguppy green (if you prefer more certainty than step 2).
4. Hitting the 1W EMA21 and bouncing off during the bull run signifies corrections.
Once a bull market is identified,
Additional recommended buying and selling techniques:
Indicators:
- Fiblines - to determine retracements from peaks (such as all time high or recent highs)
- Stochastic RSI - 1d, 3d, and 1W SRSI are great time to buy, especially the 1W SRSI which comes much less frequently.
- volumen consolidado - for multi exchange volumes compiled into a single line. I prefer buying on the lowest volume days which generally coincide with dips.
- MACD - somewhat dubious utility but many algorithms are programmed to buy or sell based on this.
Check out the Alerts for golden crosses and 350ma Fib crosses which are invaluable for long term buying planning.
I left this open source so that all the formulas can be understood and verified. Much of it hacked together from other sources but all indicators that are fundamental to bitcoin. I apologize in advance for not attributing all the articles and references... but then again I am making no money off of this anyway.
EdgeAnalysisGroup: FibTrendsBased on EdgeAnalysisGroup: Fib MA's > The bar color logic is simple. If the closing of a price crosses under a fib then a red bar will appear. If the closing price crosses above a fib then a green bar will appear.
Fibonacci CloudInspired by Ichimoku Fibonacci Hybrid , this indicator is for those who don't mind a lot of lines. All lines represent Fib ratios: thicker lines are fibs for a longer period, while thinner lines are fibs for a shorter period.
- Dynamic S/R
- Overbought/Oversold zones
- Trend indicator
- Customisable periods
- Fast/Slow crossovers
See what works for you!
