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Indicators: KaseCD & Kase Peak OscillatorI have included ports of 2 indicators from MT4 (not from the original commercial source). I couldn't cross check if these matched their commercial equivalents (you need to assume they don't!). If you own any of these in other platforms, appreciate if you could publish some comparison results here. Kase Peak Oscillator is the difference between two trend measurements, one for rising markets and the other for falling markets. KCD is the PeakOsc minus its own average. So, KPO takes the place of a traditional oscillator and the KCD takes place of the traditional MACD. Ms.Kase claims KCD is far more accurate than MACD. More info: - www.kaseco.com - beathespread.com Let me know if you have experience with the original indicators and are willing to help improve these clones. Thanks.
Pine Script® indicator
by LazyBear
13
Strength of Divergence Across Multiple IndicatorsOverview: One-stop shop for all your divergence needs, including: (1) A single metric for divergence strength across multiple indicators. (2) Labels that make it easy to spot where the truly strong divergence is by showing the overall divergence strength value along with the number of divergent indicators. Hovering over the label shows a breakdown of each divergent indicator and its individual divergence strength value. (3) Fully customizable, including inputs for pivot lengths, divergence types, and weights for every component of the divergence strength calculation. This allows you to quickly and easily optimize the output for any chart. Don't worry, the default settings will have you covered if you're not interested in what's going on under the hood. The Divergence Strength Calculation: The total divergence strength value is the sum of the divergence strengths of all indicators for which divergence was detected at a given bar. Each indicator's individual divergence strength is comprised of two basic components: (1) |ΔPrice| - the magnitude of the change in price over the divergence period (pivot-to-pivot), and (2) |ΔIndicator| - the magnitude of the change in indicator value over the divergence period. Because different indicators' scales and volatility can vary greatly, the Δ values are expressed in terms of standard deviation to ensure that the values are meaningful and equitable across all indicators and assets/instruments/currency pairs, etc: |ΔIndicator| = |indicator_value_1 - indicator_value_2| / 2 * StDev(indicator_series,100) Calculation Weights: All components of the calculation are weighted and can be modified on the Inputs page in settings (weights are simply multipliers). For example, if you think hidden divergence should carry less weight than regular divergence, you can assign it a lesser weight. Or if you think RSI divergence is worth more than OBV divergence, you can adjust their weights accordingly. List of weights: Regular divergence weight - default = 1 Hidden divergence weight - default = 1 ΔPrice weight - default = 0.5 (multiplied by the ΔPrice component) ΔIndicator weight - default = 1.5 (multiplied by the ΔIndicator component) RSI weight - default = 1.1 OBV weight - default = 0.8 MACD weight - default = 0.9 STOCH weight - default = 0.9 Development for additional indicators is ongoing, as is research into the optimal weight configuration(s). Other Inputs: Pivot lengths - specify the number of bars before and after each pivot high/low to consider it a valid candidate for divergence. Lookback bars and Lookback pivots - specify the number of bars or the number of pivots to look back across. Price sources - specify separate price sources for bullish and bearish divergence Display settings - specify how lines and labels should display, including which divergence strength values should show the largest labels. Include/exclude specific divergence types and indicators. Please report any bugs, or let me know if you have any enhancement suggestions or requests for additional indicators. @reees
Pine Script® indicator
by reees
114
SBS AlgoHello traders, I am here again with a new and improved indicator. This indicator is based on a pivot breakout algorithm which gives buy and sell signals according to the breakout of trendline. This is an advanced version of another script. It also takes price action into consideration along with some basic indicators like MACD and ADX to give good entry signals. NOTE: This indicator is not designed to take entries completely based on signals it gives. Please use it along with your trading strategy to add more confluence to your trading system and maximize your profits. I hope you guys will like this one too .Enjoy 👍 In case you find any bug, please do report in comment section .Thank you.
Pine Script® indicator
by a_guy_from_wall_street
94
MAC-Z Indicator [LazyBear]This indicator is a composite of MACD and Z-Score (requested by @ChartAt). The general idea is that counter-trend component of the Z-score is used to adjust/improve the trend component of the MACD. The advantage is that it is a more accurate and “assumption-free” and can more accurately describe how a market or stock actually works in a given time frame. I have also added support to smooth out the MAC-Z using Laguerre filter (Thanks @TheLark for the excellent LMA). Note that smoothing removes the "noise" component additive of Z-Score, so you may miss some good signals. By default Laguerre smoothing is OFF, I suggest playing with the Gamma to see if you can find a proper trade-off value. Theme credits --> @liw0 More info: cssanalytics.wordpress.com
Pine Script® indicator
by LazyBear
13
Trampoline DotsTrampoline Dots (Price Divergence) Higher Time Frame Price Divergence: Trampoline Dots serve as a "quick bounce" tool. These little dots will trigger whenever the higher aggregation MACD is above / below zero and the price is below / above the 50 period simple moving average. When these criteria are met, the price is usually under pressure of strong divergence, more often than not price will sharply reverse into the trend direction usually within the next few bars. The Use of The Trampoline Dots: This indicator can serve multiple ways. Obviously the main use case is the price divergence. These "dots" will not give you any precise & exact entry. But rather a zone of possible incoming reversal. There is no timing to it. All these dots will do is warn you about potential sharp reversal in the upcoming bars. It can be used by itself alone for sure, but the best way to utilize the dots is to use them in combination of other trend or momentum studies. The best signals are the ones that are within the larger time frame trend. Another great thing is that the visuals are really straight-forward and simple. It is either green dot or a red dot. Nothing more, nothing less. Also since the indicator is pretty small, it can be easily layered onto other studies as well which can create an additional confirmation for different patterns or setups. Which Time Frame Are Reliable? This indicator works on any time frame. But the most "stable" one is the daily & hourly time frame. My personal favorite is the hourly since these divergences can produce amazing entries in the daily trends (which are usually hidden on the daily chart). In the most aggresive trends, I like to see the green dots triggering around the 8 EMA and 13 EMA. Daily chart can show the daily and weekly (big divergences) that can take multiple days & weeks to resolve. Hope it helps.
Pine Script® indicator
by lnlcapital
Super 8 - 30M BTCWelcome to Super 8, the ultimate automatic trading script for Pine! This bad boy is designed to go both long and short, and it's equipped with all the tools you need to maximize your profits. Whether you're looking to take profit, set a trailing stop, or protect yourself with a stop loss, Super 8 has you covered. But that's not all! Super 8 is also loaded with 8 powerful indicators to help you make informed decisions. We've got the EMA, ADX, SAR, MACD, VOLUME, BOLLINGER BANDS, DONCHIAN, and ATR all working together to give you the best possible trading experience. And if you want to take it to the next level, Super 8 also has a feature that lets you use stepped entries in normal mode or incremental 1,2,3,... to improve your average price. Plus, if you're using trailing stop, you can activate the Backtest precision to use lower timeframes. But what's in a name? Super 8 is called that because it's just that... super! It's tailored specifically for the OKX:BTCUSDT.P pair, so you know you're getting the best possible results. it's highly adjustable and can be used with any other pair. So no matter what market you're trading in, Super 8 has got you covered. So if you want to level up your trading game, give Super 8 a try. You won't be disappointed. Certain Risks of Live Algorithmic Trading: Backtesting Cannot Assure Actual Results. The relevant market might fail or behave unexpectedly. Your broker may experience failures in its infrastructure, fail to execute your orders in a correct or timely fashion or reject your orders. The system you use for generating trading orders, communicating those orders to your broker, and receiving queries and trading results from your broker may fail. Time lag at various point in live trading might cause unexpected behavior. The systems of third parties in addition to those of the provider from which we obtain various services, your broker, and the applicable securities market may fail or malfunction.
Pine Script® strategy
by AssassinsGrid
35
SQueezeVergenceThis is my SQueezeVergence indicator. It fires Buy and Sell signals based on squeeze momentum and trend. **It also creates Bull and Bear signals based on MACD divergence which should only be used as areas of support and resistance being as these signals repaint based on a 5 candle look back of pivots.** All settings are editable for better use. The default settings are what I use on the 1 Minute chart of ES to scalp. This is a simple indicator to help me get alerts on when I need to scalp. The divergence signals work well for areas of significance. I like to watch for breaks of these levels along with support and resistance. I hope this helps.
Pine Script® indicator
by barrettdenning
6
Swing High/Low Indicator w/ MACD and HTF EMA'sSwing High/Low Indicator w/ MACD and EMA Confirmations by KaizenTraderB I designed this indicator to be used with a market structure break strategy. It labels swing highs and lows that are confirmed by the MACD. It also displays a higher timeframe Fast and Slow EMA to determine directional bias. Also provides alerts that signal Swing Low breaks in downtrends and Swing High Breaks in uptrends. It draws a horizontal line on the last Swing High and Low. Display this indicator on your entry timeframe and choose your Higher Timeframe in settings. You can also change lookback period for Swing Highs and Lows and EMA's. When I use this I am looking for the Swing High/Low break in direction of HTF Trend Then look for pullback between price level of break and areas of liquidity (wicks, order blocks, price congestion) for entry in direction of EMA trend.
Pine Script® indicator
by KaizenTraderB
4
Price Acceleration Convergence Divergence V2This is a fork of the previous PACD indicator i made by working out the RSI another two times. it works the exact same but is more leading in trend reversals and divergences. this indicator plots 4x the RSI of the RSI of the price using the derivatives of RSI. Data is plotted just like the MACD. points 5 and -5 are very strong support/resistance points and should be very important points to take note of. use this indicator like the MACD essentially with the assistance of a 4x RSI momentum. enjoy
Pine Script® indicator
by dardygook
RSI Convergence DivergenceRSI based oscillator inspired by the MACD. Indicator that consists of two RSI calibrated at different lengths to take advantage of their convergence, divergence, overall direction, overall strength and several other metrics to extract signals from the price action. This indicator includes: - Fast RSI - Slow RSI - Signal line to identify convergence/divergence - Simple moving average applied to the average of the two RSI - DEMA applied to the average of the two RSI - An average moving average of the SMA and DEMA Some of the applications of this indicator: - Simple convergence/divergence signaled by the moving average going above or below zero. - Crossover between SMA and DEMA - Combination of convergence/divergence and one of the 3 MAs reaching overbought or oversold threshold - Average moving average going above or below 50 The combinations of different conditions are countless and limited only by the imagination of the user. The visualization inputs, besides allowing to choose the candle coloring, give the user the ability to keep the chart clean and only see the signals he is interested into.
Pine Script® indicator
by Rick996
Momentum-based ZigZag (incl. QQE) NON-REPAINTINGI spent a lot of time searching for the best ZigZag indicator. Difficulty with all of them is that they are always betting on some pre-defined rules which identify or confirm pivot points. Usually it is time factor - pivot point gets confirmed after a particular number of candles. This methodology is probably the best when market is moving relatively slow, but when price starts chopping up and down, there is no way the ZigZag follows accurately. On the other hand if you set it too tight (for example pivot confirmation after only 2 or even 1 candle), you will get hundreds of zigzag lines and they will tell you nothing. My point of view is to follow the market. If it has reversed, then it has reversed, and there is no need to wait pre-defined number of candles for the confirmation. Such reversals will always be visible on momentum indicators, such as the most popular MACD. But a single-line moving average can be also good enough to notice reversals. Or my favourite one - QQE, which I borrowed (and improved) from JustUncleL, who borrowed it from Glaz, who borrowed it from... I don't even know where Quantitative Qualitative Estimation originates from. Thanks to all these guys for their input and code. So whichever momentum indicator you choose - yes, there is a pick-your-poison-type selector as in in-famous Moving Average indicators - once it reverses, a highest (or lowest) point from the impulse is caught and ZigZag gets printed. One thing I need to emphasize. This indicator DOES NOT REPAINT. It might look like the lines are a bit delayed, especially when compared to all the other ZigZag indicators on TradingView, but they are actually TRUE. There is a value in this - my indicator prints pivot points and Zigzag exactly on the moment they have been noticed, not earlier faking to be faster than they could be. As a bonus, the indicator marks which impulse had strength in it. It is very nice to see a progressing impulse, but without force - a very likely that reversal on a bigger move is happening. I'm about to publish some more scripts based on this ZigZag algo, so follow me on TradingView to get notified. Enjoy!
Pine Script® indicator
by Peter_O
122
Blockchain Fundamentals - MCCD - Miner Capitulation Conv/Div🔗Blockchain Fundamentals - MCCD - Miner Capitulation & Convergence Divergence (a.k.a. Hash Ribbons) Intro Miner Capitulation has been talked about alot recently in the news and on twitter. I wanted to join the in fun and add my own spin on things. Description This shows the 30 (yellow) and 60 (orange) day moving average of the hash rate of bitcoin. I added an option to show the convergence/divergence of the two moving averages in a visual manner similar to the MACD. I also added the ability to select both the length and type of MA used in the calculation of the capitulation so you can experiment. Other additions include bar coloration by trade state, and background highlighting of capitulation periods. Editable Capitulation/Recovery plots will show clearly when the crosses happen. The way to replicate my display is to add the indicator twice below the chart and combine in the same pane. First indicator displays the averages by default. The second one you enable convergence/divergence display option and uncheck the rest. Last I add the indicator one more time and dragged it on chart. Do not combine the scales into one, of else it will ruin the scale (you want them separate scales). Its just showing you possibilities, use whatever works for you! 👍 We hope you enjoyed this indicator and find it useful! We post free crypto analysis, strategies and indicators regularly. This is our 73rd script on Tradingview! 💬Check my Signature for other information
Pine Script® indicator
by theheirophant
11
SCTI-MACDEnglish Description SCTI-MACD is an advanced multi-feature MACD indicator that combines traditional MACD analysis with divergence detection and flexible display options. This enhanced version offers: Key Features: Customizable MACD parameters (fast EMA, slow EMA, signal line periods) Multi-timeframe capability - analyze MACD from different timeframes on your current chart Visual customization: Toggle MACD line, signal line, and histogram visibility Color-changing MACD line based on signal line crossovers 4-color histogram for better trend visualization Signal cross markers Advanced divergence detection: Regular and hidden divergences for both histogram and MACD line Configurable lookback periods and price reference (wicks or bodies) Visual labels for easy identification Flexible display options to show only the elements you need The indicator helps identify trend direction, momentum shifts, and potential reversal points through its comprehensive divergence detection system. 中文描述 SCTI-MACD 是一个集成了多种功能的高级MACD指标，结合了传统MACD分析与背离检测功能，并提供灵活的显示选项。这个增强版本提供： 主要功能： 可定制的MACD参数（快EMA、慢EMA、信号线周期） 多时间周期功能 - 在当前图表上分析不同时间周期的MACD 可视化定制： 可切换显示MACD线、信号线和直方图 根据信号线交叉变化颜色的MACD线 四种颜色的直方图，提供更好的趋势可视化 信号交叉标记点 高级背离检测： 直方图和MACD线的常规背离和隐藏背离 可配置的回溯周期和价格参考（影线或实体） 视觉标签便于识别 灵活的显示选项，只显示您需要的元素 该指标通过其全面的背离检测系统，帮助识别趋势方向、动量变化和潜在反转点。 Publishing Notes When uploading to the community, you may want to include: Suggested Settings: Recommend your preferred parameter combinations Usage Tips: Explain how to interpret the different divergence signals Screenshots: Include images showing the indicator in action with different features enabled Version Info: Note that it requires Pine Script v5 The indicator name "SCTI-MACD" suggests it may be part of a trading system or methodology - you may want to explain what "SCTI" stands for if it's meaningful to your approach.
Pine Script® indicator
by Erens_Freedom
Adaptive MACD Deluxe [AlgoAlpha]OVERVIEW This script is an advanced rework of the classic MACD indicator, designed to be more adaptive, visually informative, and customizable. It enhances the original MACD formula using a dynamic feedback loop and a correlation-based weighting system that adjusts in real-time based on how deterministic recent price action is. The signal line is flexible, offering several smoothing types including Heiken Ashi, while the histogram is color-coded with gradients to help users visually identify momentum shifts. It also includes optional normalization by volatility, allowing MACD values to be interpreted as relative percentage moves, making the indicator more consistent across different assets and timeframes. CONCEPTS This version of MACD introduces a deterministic weight based on R-squared correlation with time, which modulates how fast or slow the MACD adapts to price changes. Higher correlation means smoother, slower MACD responses, and low correlation leads to quicker reaction. The momentum calculation blends traditional EMA math with feedback and damping components to create a smoother, less noisy series. Heiken Ashi is optionally used for signal smoothing to better visualize short-term trend bias. When normalization is enabled, the MACD is scaled by an EMA of the high-low range, converting it into a bounded, volatility-relative indicator. This makes extreme readings more meaningful across markets. FEATURES The script offers six distinct options for signal line smoothing: EMA, SMA, SMMA (RMA), WMA, VWMA, and a custom Heiken Ashi mode based on the MACD series. Each option provides a different response speed and smoothing behavior, allowing traders to match the indicator’s behavior to their strategy—whether it's faster reaction or reduced noise. Normalization is another key feature. When enabled, MACD values are scaled by a volatility proxy, converting the indicator into a relative percentage. This helps standardize the MACD across different assets and timeframes, making overbought and oversold readings more consistent and easier to interpret. Threshold zones can be customized using upper and lower boundaries, with inner zones for early warnings. These zones are highlighted on the chart with subtle background fills and directional arrows when MACD enters or exits key levels. This makes it easier to spot strong or weak reversals at a glance. Lastly, the script includes multiple built-in alerts. Users can set alerts for MACD crossovers, histogram flips above or below zero, and MACD entries into strong or weak reversal zones. This allows for hands-free monitoring and quick decision-making without staring at the chart. USAGE To use this script, choose your preferred signal smoothing type, enable normalization if you want MACD values relative to volatility, and adjust the threshold zones to fit your asset or timeframe. Use the colored histogram to detect changes in momentum strength—brighter colors indicate rising strength, while faded colors imply weakening. Heiken Ashi mode smooths out noise and provides clearer signals, especially useful in choppy conditions. Use alert conditions for crossover and reversal detection, or monitor the arrow markers for entries into potential exhaustion zones. This setup works well for trend following, momentum trading, and reversal spotting across all market types.
Pine Script® indicator
by AlgoAlpha
5
Smart Adaptive MACDAn advanced MACD variant that dynamically adapts to market volatility using ATR-based scaling. Key Features: Volatility-sensitive MACD and Signal lengths Optional smoothed MACD line Dynamic histogram heatmap (strong vs. weak momentum) Built-in Regular and Hidden Divergence detection Clear visual signals via solid (regular) and dashed (hidden) divergence lines What makes this different: Unlike traditional MACD indicators with fixed-length settings, this version adapts in real time to changing volatility conditions. It shortens during high-momentum environments for faster reaction, and lengthens during low-volatility phases to reduce noise. This allows better alignment with market behavior and cleaner momentum signals. Divergence Detection – How It Works The Smart Adaptive MACD detects both regular and hidden divergences by comparing price action with the smoothed MACD line. It uses recent pivot highs and lows to evaluate divergence and draws lines on the chart when conditions are met. Regular Divergence Detection This type of divergence signals potential reversals. It occurs when the price moves in one direction while the MACD moves in the opposite. Bullish Regular Divergence: Price makes lower lows, but MACD makes higher lows. Result: A solid green line is plotted beneath the MACD curve. Bearish Regular Divergence: Price makes higher highs, but MACD makes lower highs. Result: A solid red line is plotted above the MACD curve. Hidden Divergence Detection This type of divergence signals trend continuation. It occurs when price pulls back slightly, but the MACD shows deeper movement in the opposite direction. Bullish Hidden Divergence: Price makes higher lows, but MACD makes lower lows. Result: A dashed green line is plotted below the MACD curve. Bearish Hidden Divergence: Price makes lower highs, but MACD makes higher highs. Result: A dashed red line is plotted above the MACD curve. How to Use: This tool is best used alongside price structure, key support/resistance levels, or as a secondary confirmation for your trend or reversal strategy. It is designed to enhance your interpretation of market momentum and divergence without needing extra chart clutter. Disclaimer: This script is provided for educational and informational purposes only. It is not intended as financial advice or a recommendation to buy or sell any asset. Always conduct your own research and consult with a licensed financial advisor before making trading decisions. Use at your own risk. License: This script is published under the Mozilla Public License 2.0 and is fully open-source. Built by AresIQ | 2025
Pine Script® indicator
by AresIQ
Fibonacci Levels with MACD ConfirmationHow to Understand and Use the Fibonacci Levels with MACD Confirmation Script This custom Pine Script is designed to give traders a clear visual framework by combining dynamic Fibonacci retracement levels, MACD histogram confirmation, and volatility-based swing zones. It aims to simplify trend analysis, improve entry timing, and adapt to various market conditions. How to Interpret the 23.6% & 61.8% Labels These Fibonacci levels represent key retracement zones where price often reacts during trend pullbacks or reversals. The 23.6% level indicates a shallow retracement, useful in strong trends where price resumes early. The 61.8% level is a deeper retracement, often a "last line of defense" before trend invalidation. The script labels these zones with "CC 23.6" and "CC 61.8" when the price crosses them with MACD histogram confirmation: Green label (CC) = bullish confirmation Red label (CC) = bearish confirmation How to Modify Inputs (Manual Adjustments) Input Purpose Default How to Use ATR Period Measures volatility 14 Increase for smoother, slower reactions; reduce for faster swings Min Lookback Minimum bars for swing zone 20 Avoids short-term noise Max Lookback Cap for swing zone scan 100 Avoids excessively wide retracement levels Inverse Candle Chart Flips high/low logic false Enable for inverted analysis or backtesting "opposite logic" How to Use the Inverse Candle Chart Option Activating inverse mode flips candle logic: Highs become negative lows, and vice versa. Useful for: Contrarian analysis Inverse ETFs or short-biased views Backtesting reverse-pattern behavior How to Adjust the Style You can manually personalize the script’s visual appearance: Change line width in plot(..., linewidth=2) for bolder or thinner Fib levels. Change colors from color.green, color.red, etc., to suit your theme. Modify label.size, label.style, and label.color for different labeling visuals. Customize MACD histogram style from plot.style_columns to other styles like style_histogram. How the MACD is Set and Displayed The MACD uses non-standard values: Fast Length = 24 Slow Length = 52 Signal Smoothing = 18 These values slow down the indicator, reducing noise and aligning better with medium- to long-term trends. MACD histogram is plotted directly on the main chart for faster, on-screen decision making. Color-coded histogram: Green/Lime = Bullish momentum increasing or steady Red/Maroon = Bearish momentum increasing or steady How to Use the Indicator in Real-World Trading This indicator is most effective when used to: ✅ 1. Spot High-Probability Trend Continuation Zones In a strong trend, price will often retrace to 23.6% or 61.8%, then resume. Wait for: Price to cross 23.6 or 61.8 MACD histogram rising (bullish) or falling (bearish) "CC 23.6" or "CC 61.8" label to appear 🟢 Entry Example: Price retraces to Fib 61.8%, crosses up with green MACD histogram → take long position ✅ 2. Validate Reversal or Breakout Zones These Fib levels also act as support/resistance. If price crosses a Fib level but MACD fails to confirm, it may be a fake breakout. Use confirmation labels only when MACD aligns. ✅ 3. Add Volatility Context (ATR) for Risk Management The ATR label shows both value and %. Use ATR to: Set dynamic stop-losses (e.g., 1.5x ATR below entry) Decide trade size based on volatility How to Combine the Indicator With Other Tools You can combine this script with other technical tools for a powerful trading framework: 🔁 With Moving Averages Use 50/200 MA for overall trend direction Take signals only in the direction of MA slope 🔄 With Price Action Patterns Use the Fib/MACD signals at confluence points: Support/resistance zones Breakout retests Candlestick patterns (pin bars, engulfing) 🔺 With Volume or Order Flow Combine with volume spikes or order book signals Confirm that Fib/MACD signals align with strong volume for conviction ✅ Trade Setup Summary Criteria Long Setup Short Setup Price at Fib Level At or crossing Fib 23.6 / 61.8 Same MACD Histogram Rising and above previous bar Falling and below previous bar Label Appears Green "CC 23.6" or "CC 61.8" Red "CC 23.6" or "CC 61.8" Optional Filters Trend direction, ATR range, volume, price pattern Same
Pine Script® indicator
by TradeMing
Sniper TradingSniper Trader Indicator Overview Sniper Trader is a comprehensive trading indicator designed to assist traders by providing valuable insights and alerting them to key market conditions. The indicator combines several technical analysis tools and provides customizable inputs for different strategies and needs. Here’s a detailed breakdown of all the components and their functions in the Sniper Trader indicator: 1. MACD (Moving Average Convergence Divergence) The MACD is a trend-following momentum indicator that helps determine the strength and direction of the current trend. It consists of two lines: MACD Line (Blue): Calculated by subtracting the long-term EMA (Exponential Moving Average) from the short-term EMA. Signal Line (Red): The EMA of the MACD line, typically set to 9 periods. What does it do? Buy Signal: When the MACD line crosses above the signal line, it generates a buy signal. Sell Signal: When the MACD line crosses below the signal line, it generates a sell signal. Zero Line Crossings: Alerts are triggered when the MACD line crosses above or below the zero line. 2. RSI (Relative Strength Index) The RSI is a momentum oscillator used to identify overbought or oversold conditions in the market. Overbought Level (Red): The level above which the market might be considered overbought, typically set to 70. Oversold Level (Green): The level below which the market might be considered oversold, typically set to 30. What does it do? Overbought Signal: When the RSI crosses above the overbought level, it’s considered a signal that the asset may be overbought. Oversold Signal: When the RSI crosses below the oversold level, it’s considered a signal that the asset may be oversold. 3. ATR (Average True Range) The ATR is a volatility indicator that measures the degree of price movement over a specific period (14 bars in this case). It provides insights into how volatile the market is. What does it do? The ATR value is plotted on the chart and provides a reference for potential market volatility. It's used to detect flat zones, where the price may not be moving significantly, potentially indicating a lack of trends. 4. Support and Resistance Zones The Support and Resistance Zones are drawn by identifying key swing highs and lows over a user-defined look-back period. Support Zone (Green): Identifies areas where the price has previously bounced upwards. Resistance Zone (Red): Identifies areas where the price has previously been rejected or reversed. What does it do? The indicator uses swing highs and lows to define support and resistance zones and highlights these areas on the chart. This helps traders identify potential price reversal points. 5. Alarm Time The Alarm Time feature allows you to set a custom time for the indicator to trigger an alarm. The time is based on Eastern Time and can be adjusted directly in the inputs tab. What does it do? It triggers an alert at a user-defined time (for example, 4 PM Eastern Time), helping traders close positions or take specific actions at a set time. 6. Market Condition Display The Market Condition Display shows whether the market is in a Bullish, Bearish, or Flat state based on the MACD line’s position relative to the signal line. Bullish (Green): The market is in an uptrend. Bearish (Red): The market is in a downtrend. Flat (Yellow): The market is in a range or consolidation phase. 7. Table for Key Information The indicator includes a customizable table that displays the current market condition (Bull, Bear, Flat). The table is placed at a user-defined location (top-left, top-right, bottom-left, bottom-right), and the appearance of the table can be adjusted for text size and color. 8. Background Highlighting Bullish Reversal: When the MACD line crosses above the signal line, the background is shaded green to highlight the potential for a trend reversal to the upside. Bearish Reversal: When the MACD line crosses below the signal line, the background is shaded red to highlight the potential for a trend reversal to the downside. Flat Zone: A flat zone is identified when volatility is low (ATR is below the average), and the background is shaded orange to signal periods of low market movement. Key Features: Customizable Time Inputs: Adjust the alarm time based on your local time zone. User-Friendly Table: Easily view market conditions and adjust display settings. Comprehensive Alerts: Receive alerts for MACD crossovers, RSI overbought/oversold conditions, flat zones, and the custom alarm time. Support and Resistance Zones: Drawn automatically based on historical price action. Trend and Momentum Indicators: Utilize the MACD and RSI for identifying trends and market conditions. How to Use Sniper Trader: Set Your Custom Time: Adjust the alarm time to match your trading schedule. Monitor Market Conditions: Check the table for real-time market condition updates. Use MACD and RSI Signals: Watch for MACD crossovers and RSI overbought/oversold signals. Watch for Key Zones: Pay attention to the support and resistance zones and background highlights to identify market turning points. Set Alerts: Use the built-in alerts to notify you of buy/sell signals or when it’s time to take action at your custom alarm time.
Pine Script® indicator
by joshua_boes82
1