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High/Low stopFirst of all let me quote some important points : • You need stops; a trade without a stop is a gamble. • You need to know where you’ll put your stop before you enter a trade. • Everybody needs hard stops. • Whenever you change a stop, you may move it only in the direc- tion of the trade. There is a variety of techniques available to traders who like to use trailing stops: • You can use a multibar low as a trailing stop; for example, you can keep moving your stop to the lowest low of the last three bars (but never against your trade). • You can trail prices with a very short moving average and use its level for a trailing stop. • You can use a Chandelier stop—every time the market makes a new high, move the stop within a certain distance from the top— either a specific price range or a number based on an ATR (aver- age true range). Any time your stock makes a new high, you place your stop within that distance from the top, like hanging a chan- delier (this method is described in Come into My Trading Room). • You can use a Parabolic stop . • You can use a SafeZone stop . • You can use a Volatility-Drop stop (described below, for the first time in trading literature). • You can use a Time Stop to get out of your trade if it does not move within a certain time. For example, if you enter a day-trade and the stock does not move within 10 or 15 minutes, it is clearly not doing what you expected and it is best to scratch that trade. If you put on a swing trade which you expect to last several days, but then a week goes by and the stock is still flat, it is clearly not confirming your analysis and the safest action would be to get out. This is a summary taken from Dr Elder book and this indicator i coded from one of his book where he briefly mention this trailing stop technique but don't dive a lot into it, but still i found to be very effective. You can use even the short stop (the green dots) as an entry point.
Pine Script® indicator
by Biticon
4
High/Low of week: Stats & Day of Week tendencies// Purpose: -To show High of Week (HoW) day and Low of week (LoW) day frequencies/percentages for an asset. -To further analyze Day of Week (DoW) tendencies based on averaged data from all various custom weeks. Giving a more reliable measure of DoW tendencies ('Meta Averages'). -To backtest day-of-week tendencies: across all asset history or across custom user input periods (i.e. consolidation vs trending periods). -Education: to see how how data from a 'hard-defined-week' may be misleading when seeking statistical evidence of DoW tendencies. // Notes & Tips: -Only designed for use on DAILY timeframe. -Verification table is to make sure HoW / LoW DAY (referencing previous finished week) is printing correctly and therefore the stats table is populating correctly. -Generally, leaving Timezone input set to "America/New_York" is best, regardless of your asset or your chart timezone. But if misaligned by 1 day =>> tweak this timezone input to correct -If you want to use manual backtesting period (e.g. for testing consolidation periods vs trending periods): toggle these settings on, then click the indicator display line three dots >> 'Reset Points' to quickly set start & end dates. // On custom week start days: -For assets like BTC which trade 7 days a week, this is quite simple. Pick custom start day, use verification table to check all is well. See the start week day & time in said verification table. -For traditional assets like S&P which trade only 5 days a week and suffer from occasional Holidays, this is a bit more complicated. If the custom start day input is a bank holiday, its custom 'week' will be discounted from the data set. E.g.1: if you choose 'use custom start day' and set it to Monday, then bank holiday Monday weeks will be discounted from the data set. E.g.2: If you choose 'use custom start day' and set it to Thursday, then the Holiday Thursday custom week (e.g Thanksgiving Thursday >> following Weds) would be discounted from the data set. // On 'Meta Averages': -The idea is to try and mitigate out the 'continuation bias' that comes from having a fixed week start/end time: i.e. sometimes a market is trending through the week start/end time, so the start/end day stats are over-weighted if one is trying to tease out typical weekly profile tendencies or typical DoW tendencies. You'll notice this if you compare the stats with various custom start days ('bookend' start/end days are always more heavily weighted). I wanted to try to mitigate out this 'bias' by cycling through all the possible new week start/end days and taking an average of the results. i.e. on BTC/USD the 'meta average' for Tuesday would be the average of the Tuesday HoW frequencies from the set of all 7 possible custom weeks(Mon-Sun, Tues-Mon, Weds-Tues, etc etc). // User Inputs: ~Week Start: -use custom week start day (default toggled OFF); Choose custom week start day -show Meta Averages (default toggled ON) ~Verification Table: -show table, show new week lines, number of new week lines to show -table formatting options (position, color, size) -timezone (only for tweaking if printed DoW is misaligned by 1 day) ~Statistics Table: -show table, table formatting options (position, color, size) ~Manual Backtesting: -Use start date (default toggled OFF), choose start date, choose vline color -Use end date (defautl toggled OFF), choose end date, choose vline color // Demo charts: NQ1! (Nasdaq), Full History, Traditional week (Mon>>Friday) stats. And Meta Averages. Annotations in purple: NQ1! (Nasdaq), Full History, Custom week (custom start day = Wednesday). And Meta Averages. Annotations in purple:
Pine Script® indicator
by twingall
5
High/Low Channel Multi averages Crypto Swing strategyThis is a swing strategy designed for trending markets such as crypto and stock, with big timeframes , like 8h. For this strategy we take SMA, EMA, VWMA, ALMA, SMMA, LSMA and VWMA and make an apply them all to both HIGH and LOW separately and make 2 averages, 1 applied to high and the other applied to low. With them we make a channel. Rules for entry For long: close of a candle is above avg applied to high. For short: close of a candle is below avg applied to low. Rules for exit We exit when we either hit TP or SL or when we receive a different condition than the entry one.(long- > short and viceversa) If you have any questions, let me know !
Pine Script® strategy
by exlux
12
High Low Differential MeterYet another trend follower that is based on a very simple principle: Take the highest high and lowest low from a user defined bars back period, do an average between them and smooth them up with 3 possible moving averages, VIDYA, EMA and SMA, while VIDYA is the default. What is VIDYA ? Variable Index Dynamic Average (VIDYA) is similar to the Exponential Moving Average (EMA), but automatically adjusts the smoothing weight based on price volatility. How to use: GREEN : Up trending LIGHT GREEN : Up trend reversal might occur. RED : Down trending LIGHT RED : Down trend reversal might occur. NOTE: BAR COLORS are set to TRUE by default! Follow for more indicators: www.tradingview.com
Pine Script® indicator
by dman103
3
High/Low X Bars AgoThis indicator will plot a line on your chart that shows the highest high point between two previous points on the chart. It does this by reporting the highest point of X number of candles, and begins the look-back X number of candles ago. Default candle group size is 50, and default look-back begins 50 candles back. With these settings, the script will essentially plot the highest high point between the candle that printed 100 candles ago, and the candle that printed 50 candles ago. Options are available for looking for the highest point, or lowest point, with configurable distances in the look-back and candle group ranges. This script was custom built by Pine-Labs for a user who requested it.
Pine Script® indicator
by Pine-Labs
1