ICT Immediate Rebalance [LuxAlgo]The ICT Immediate Rebalance aims at detecting and highlighting immediate rebalances, a concept taught by Inner Circle Trader. The ICT Immediate Rebalance, although frequently overlooked, emerges as one of ICT's most influential concepts, particularly when considered within a specific context.
🔶 USAGE
Immediate rebalances, a concept taught by ICT, hold significant importance in decision-making. To comprehend the concept of immediate rebalance, it's essential to grasp the notion of the fair value gap. A fair value gap arises from market inefficiencies or imbalances, whereas an immediate rebalance leaves no gap, no inefficiencies, or no imbalances that the price would need to return to.
Following an immediate rebalance, the typical expectation is for two extension candles to ensue; failing this, the immediate rebalance is deemed unsuccessful. It's important to note that both failed and successful immediate rebalances hold significance in trading when analyzed within a contextual framework.
Immediate rebalances can manifest across various locations and timeframes. It's recommended to analyze them in conjunction with other ICT tools or technical indicators to gain a more comprehensive understanding of market dynamics.
🔹 Multi Timeframe
The script facilitates multi-timeframe analysis, enabling users to display immediate rebalances from higher timeframes.
Enabling the display of higher timeframe candles helps visualize the detected immediate rebalance patterns.
🔹 Dashboard
The dashboard offers statistical insights into immediate rebalances.
🔶 SETTINGS
🔹 Immediate Rebalances
Timeframe: this option is to identify immediate rebalances from higher timeframes. If a timeframe lower than the chart's timeframe is selected, calculations will be based on the chart's timeframe.
Bullish, and Bearish Immediate Rebalances: color customization options.
Wicks 75%, %50, and %25: color customization options of the wick price levels for the detected immediate rebalances.
Immediate Rebalance Candles: toggles the visualization of higher timeframe candles where immediate rebalance is detected.
Confirmation (Bars): specifies the number of bars required to confirm the validation of the detected immediate rebalance.
Immediate Rebalance Icon: allows customization of the size of the icon used to represent the immediate rebalance.
🔹 Dashboard
Dashboard: toggles the visualization of the dashboard, sets its location, and customizes the size of the dashboard.
🔶 RELATED SCRIPTS
Fair-Value-Gap
Thanks to our community for recommending this script. For more conceptual scripts and related content, we welcome you to explore by visiting >>> LuxAlgo-Scripts .
Search in scripts for "the script"
Wiseball RSI Super Advanced Divergences | EssentialThis indicator is a cutting-edge tool designed to elevate your trading strategy by identifying both regular and hidden RSI divergences with unparalleled precision. Moreover, this indicator uniquely offers the capability to visualize divergences as they are forming ("anticipated"), a feature that stands out for its originality and innovation.
Unique Features and How They Work:
This tool distinguishes itself by leveraging its Divergences Detection System (DDS), which incorporates advanced algorithms to analyze market movements and oscillator behavior beyond the capabilities of existing open-source scripts. Here's a brief overview of what makes DDS uniquely effective:
Anticipated and Projected Divergences: DDS goes beyond mere detection of existing divergences. It offers insights into divergences that are currently forming and even projects potential future divergences by analyzing current trends and oscillator levels. This forward-looking feature empowers traders to anticipate market movements, offering a strategic advantage.
Comprehensive Pivot Analysis: Unlike typical divergence indicators, such as the "RSI Divergence Indicator," which only identifies divergences between two consecutive pivots, DDS is engineered to analyze as many previous pivots as the user's configuration allows (duration min/max). This capability ensures that no potential trend or extended divergence is overlooked, providing a more thorough market analysis.
Multiple Divergences Detection: Our system is capable of detecting multiple divergences within the same timeframe. For instance, it can identify a significant bearish divergence alongside a minor bullish divergence, offering a nuanced view of market dynamics that other indicators might miss.
Extensive Customization Options: DDS provides an array of configuration settings, allowing traders to tailor the detection system to their specific needs. Whether adjusting for sensitivity, timeframes, or specific divergence types, these customization options ensure that the tool can adapt to various trading strategies and preferences.
Our commitment to continuous development means that we regularly update the script based on user feedback, ensuring that it remains at the forefront of trading technology.
How to Use This Script:
Setup: Search for "Wiseball RSI Super Advanced Divergences" in the TradingView indicator library. Easily add the script to your TradingView chart and adjust the settings according to your trading preferences.
Analysis: The script automatically identifies divergences and highlights them on your chart, using color-coded lines and patterns for easy interpretation.
Action: Customize alerts to notify you of new divergences, enabling timely trading decisions based on the script's analysis.
Note: This indicator is best used on a dark background, as it has been optimized for this.
Divergence Style Coding:
Bullish Regular Divergence: Green
Bullish Hidden Divergence: Blue
Bearish Regular Divergence: Red
Bearish Hidden Divergence: Orange
Confirmed Divergence: Solid opaque line
Anticipated Divergence: Dotted line in the type's color
Projected Divergence: Dashed line in the type's color
Understand Technical and practical limitations:
This indicator is designed to facilitate ease of use, correspond to standard practices, and cover your essential needs. DDS options are limited to the essentials for simplicity and ease of use. Moreover, these limitations allow for reduced calculation time and a smooth display.
It is limited to displaying 100 divergences, and the number of bars analyzed is fixed at 960. Use the replay mode to view past divergences.
Divergences sharing the same endpoint are limited to the divergence with the longest duration.
Divergences of the same type that cross or share the same time space are filtered to display only one.
The maximum duration of divergences is set to 120 bars.
Anticipated divergences but not projected ones.
Note: As with all trading tools, it's crucial to use this indicator in conjunction with other indicators and fundamental analysis to validate your trading decisions. Our tools are designed to provide you with valuable insights, not to predict the future. Always conduct your research and trade responsibly.
Pro Trading Art - Head And ShouldersHow the Script Works:
1. The script identifies potential Head and Shoulders patterns by searching for specific pivot highs and pivot lows in the price data.
2. It checks for the presence of a left shoulder, head, and right shoulder based on the conditions defined in the script.
3. If a valid Head and Shoulders pattern is found, the script plots lines and labels on the chart to visualize the pattern.
4. The script also identifies Inverted Head and Shoulders patterns using similar logic but with different conditions.
5. It plots lines and labels for the Inverted Head and Shoulders pattern.
6. The script generates short and long conditions based on the patterns. Short conditions trigger when the close price crosses below the neck level of a Head and Shoulders pattern, while long conditions trigger when the close price crosses above the neck level of an Inverted Head and Shoulders pattern.
7. It plots sell and buy signal shapes on the chart when the short and long conditions are met, respectively.
8. The script can also trigger alerts to notify the user when a valid Head and Shoulders or Inverted Head and Shoulders pattern is detected.
9. The script provides visual cues on the chart to help users identify potential trading opportunities.
10. The logic and parameters of the script can be modified by the user to customize the behavior and adapt it to different trading strategies.
How Users Can Make Profit Using This Script:
1. Identify potential short-selling opportunities: When a valid Head and Shoulders pattern is detected and a short condition is met, it indicates a potential trend reversal. Traders can consider opening short positions to profit from a downward price movement.
2. Identify potential long-buying opportunities: When a valid Inverted Head and Shoulders pattern is detected and a long condition is met, it suggests a potential trend reversal. Traders can consider opening long positions to profit from an upward price movement.
3. Combine with additional analysis: Users can utilize this script as a tool in their overall trading strategy. They can combine the signals generated by the script with other technical indicators, fundamental analysis, or market sentiment to make more informed trading decisions.
4. Define appropriate entry and exit points: Traders can use the lines and labels plotted by the script to determine entry and exit points for their trades. For example, they may choose to enter a short position after the price crosses below the neck level and exit when the price reaches a predetermined target or when the pattern is invalidated.
5. Set risk management measures: It is important for users to implement proper risk management strategies when trading based on the script's signals. They should define stop-loss orders to limit potential losses if the trade goes against them and consider setting profit targets to secure profits when the trade moves in their favor.
Intrabar Efficiency Ratio█ OVERVIEW
This indicator displays a directional variant of Perry Kaufman's Efficiency Ratio, designed to gauge the "efficiency" of intrabar price movement by comparing the sum of movements of the lower timeframe bars composing a chart bar with the respective bar's movement on an average basis.
█ CONCEPTS
Efficiency Ratio (ER)
Efficiency Ratio was first introduced by Perry Kaufman in his 1995 book, titled "Smarter Trading". It is the ratio of absolute price change to the sum of absolute changes on each bar over a period. This tells us how strong the period's trend is relative to the underlying noise. Simply put, it's a measure of price movement efficiency. This ratio is the modulator utilized in Kaufman's Adaptive Moving Average (KAMA), which is essentially an Exponential Moving Average (EMA) that adapts its responsiveness to movement efficiency.
ER's output is bounded between 0 and 1. A value of 0 indicates that the starting price equals the ending price for the period, which suggests that price movement was maximally inefficient. A value of 1 indicates that price had travelled no more than the distance between the starting price and the ending price for the period, which suggests that price movement was maximally efficient. A value between 0 and 1 indicates that price had travelled a distance greater than the distance between the starting price and the ending price for the period. In other words, some degree of noise was present which resulted in reduced efficiency over the period.
As an example, let's say that the price of an asset had moved from $15 to $14 by the end of a period, but the sum of absolute changes for each bar of data was $4. ER would be calculated like so:
ER = abs(14 - 15)/4 = 0.25
This suggests that the trend was only 25% efficient over the period, as the total distanced travelled by price was four times what was required to achieve the change over the period.
Intrabars
Intrabars are chart bars at a lower timeframe than the chart's. Each 1H chart bar of a 24x7 market will, for example, usually contain 60 intrabars at the LTF of 1min, provided there was market activity during each minute of the hour. Mining information from intrabars can be useful in that it offers traders visibility on the activity inside a chart bar.
Lower timeframes (LTFs)
A lower timeframe is a timeframe that is smaller than the chart's timeframe. This script determines which LTF to use by examining the chart's timeframe. The LTF determines how many intrabars are examined for each chart bar; the lower the timeframe, the more intrabars are analyzed, but fewer chart bars can display indicator information because there is a limit to the total number of intrabars that can be analyzed.
Intrabar precision
The precision of calculations increases with the number of intrabars analyzed for each chart bar. As there is a 100K limit to the number of intrabars that can be analyzed by a script, a trade-off occurs between the number of intrabars analyzed per chart bar and the chart bars for which calculations are possible.
Intrabar Efficiency Ratio (IER)
Intrabar Efficiency Ratio applies the concept of ER on an intrabar level. Rather than comparing the overall change to the sum of bar changes for the current chart's timeframe over a period, IER compares single bar changes for the current chart's timeframe to the sum of absolute intrabar changes, then applies smoothing to the result. This gives an indication of how efficient changes are on the current chart's timeframe for each bar of data relative to LTF bar changes on an average basis. Unlike the standard ER calculation, we've opted to preserve directional information by not taking the absolute value of overall change, thus allowing it to be utilized as a momentum oscillator. However, by taking the absolute value of this oscillator, it could potentially serve as a replacement for ER in the design of adaptive moving averages.
Since this indicator preserves directional information, IER can be regarded as similar to the Chande Momentum Oscillator (CMO) , which was presented in 1994 by Tushar Chande in "The New Technical Trader". Both CMO and ER essentially measure the same relationship between trend and noise. CMO simply differs in scale, and considers the direction of overall changes.
█ FEATURES
Display
Three different display types are included within the script:
• Line : Displays the middle length MA of the IER as a line .
Color for this display can be customized via the "Line" portion of the "Visuals" section in the script settings.
• Candles : Displays the non-smooth IER and two moving averages of different lengths as candles .
The `open` and `close` of the candle are the longest and shortest length MAs of the IER respectively.
The `high` and `low` of the candle are the max and min of the IER, longest length MA of the IER, and shortest length MA of the IER respectively.
Colors for this display can be customized via the "Candles" portion of the "Visuals" section in the script settings.
• Circles : Displays three MAs of the IER as circles .
The color of each plot depends on the percent rank of the respective MA over the previous 100 bars.
Different colors are triggered when ranks are below 10%, between 10% and 50%, between 50% and 90%, and above 90%.
Colors for this display can be customized via the "Circles" portion of the "Visuals" section in the script settings.
With either display type, an optional information box can be displayed. This box shows the LTF that the script is using, the average number of lower timeframe bars per chart bar, and the number of chart bars that contain LTF data.
Specifying intrabar precision
Ten options are included in the script to control the number of intrabars used per chart bar for calculations. The greater the number of intrabars per chart bar, the fewer chart bars can be analyzed.
The first five options allow users to specify the approximate amount of chart bars to be covered:
• Least Precise (Most chart bars) : Covers all chart bars by dividing the current timeframe by four.
This ensures the highest level of intrabar precision while achieving complete coverage for the dataset.
• Less Precise (Some chart bars) & More Precise (Less chart bars) : These options calculate a stepped LTF in relation to the current chart's timeframe.
• Very precise (2min intrabars) : Uses the second highest quantity of intrabars possible with the 2min LTF.
• Most precise (1min intrabars) : Uses the maximum quantity of intrabars possible with the 1min LTF.
The stepped lower timeframe for "Less Precise" and "More Precise" options is calculated from the current chart's timeframe as follows:
Chart Timeframe Lower Timeframe
Less Precise More Precise
< 1hr 1min 1min
< 1D 15min 1min
< 1W 2hr 30min
> 1W 1D 60min
The last five options allow users to specify an approximate fixed number of intrabars to analyze per chart bar. The available choices are 12, 24, 50, 100, and 250. The script will calculate the LTF which most closely approximates the specified number of intrabars per chart bar. Keep in mind that due to factors such as the length of a ticker's sessions and rounding of the LTF, it is not always possible to produce the exact number specified. However, the script will do its best to get as close to the value as possible.
Specifying MA type
Seven MA types are included in the script for different averaging effects:
• Simple
• Exponential
• Wilder (RMA)
• Weighted
• Volume-Weighted
• Arnaud Legoux with `offset` and `sigma` set to 0.85 and 6 respectively.
• Hull
Weighting
This script includes the option to weight IER values based on the percent rank of absolute price changes on the current chart's timeframe over a specified period, which can be enabled by checking the "Weigh using relative close changes" option in the script settings. This places reduced emphasis on IER values from smaller changes, which may help to reduce noise in the output.
█ FOR Pine Script™ CODERS
• This script imports the recently published lower_ltf library for calculating intrabar statistics and the optimal lower timeframe in relation to the current chart's timeframe.
• This script uses the recently released request.security_lower_tf() Pine Script™ function discussed in this blog post .
It works differently from the usual request.security() in that it can only be used on LTFs, and it returns an array containing one value per intrabar.
This makes it much easier for programmers to access intrabar information.
• This script implements a new recommended best practice for tables which works faster and reduces memory consumption.
Using this new method, tables are declared only once with var , as usual. Then, on the first bar only, we use table.cell() to populate the table.
Finally, table.set_*() functions are used to update attributes of table cells on the last bar of the dataset.
This greatly reduces the resources required to render tables.
Look first. Then leap.
3Commas DCA Bot Indicator v1.0Introduction
The indicator attempts to implement a majority all of the settings found on the 3Commas DCA Bot setting page that can be implemented within a TradingView indicator. Specifically, it will implement the "Open new trade ASAP" and "Trading View Custom Signal" deal start conditions. In this way, you can leverage the power of TradingView's backtester to model your settings and analysis past performance as well as leverage TradingView's alert notification subsystem to send Deal Start and Close signals to 3Commas using almost any of the thousands of scripts found in the Public Library (see "What does it do and how does it do it?" section below for more information on how to do this using the RSI indicator as an example).
How is it original and useful?
This indicator is unique in that it's the only one (as of the initial publications) that can handle 28 out of 32 bot settings (88% coverage) that are found on the 3Commas bot settings page. In addition, because it is a TradingView script, you will benefit from the following:
Model your bot's configuration using the backtester on any timeframe and evaluate its performance using the chart's history.
View a table of detailed statistics pertaining to deals started and completed, win/loss rates, daily P&L, true max drawdown, and detailed statistics on bars in deal along with safety orders filled.
View a table of "Used amount for each step" as presented in 3Commas as well.
Ability to link to almost any TradingView chart indicator that provides a single data point for buy/sell signals.
Make use of the 3Commas TA Start Conditions indicator to emulate the 3Commas built-in indicators for further performance evaluation with the backtester.
How does it compare to other scripts in the Public Library?
This indicator offers a very detailed, comprehensive settings and maybe the only one (as of the initial publication) that can handle 28 out of the 32 bot settings that are found on the 3Commas bot settings page (that can be handled within TradingView, because some cannot be modeled due to chart and language constraints). Specifically, the following 3Commas bot settings and inputs are addressed with asterisks denoting specific limitation due to TradingView's platform architecture and/or constraints:
Main settings
✅ Name
❌ Exchange* (Not handled since it is inherited from chart)
⚠ Bot type* (Only Single-pair because you simply apply the indicator to as many pairs you desire in separate charts to simulate a Multi-pair setting)
Pairs
❌ Pairs* (Not handled since it is inheriting the symbol from the chart)
Strategy
✅ Strategy
❌ Profit currency* (Not handled since there is no equivalence in TradingView)
✅ Base order size / unit
✅ Safety order size / unit
✅ Start order type
Deal start condition
⚠ TradingView* (You can modify the "Technical Rating" indicator by TradingView to output a signal yourself like @TheTradingParrot has done in the TV signal for DCA backtest script)
⚠ QFL* (See Quickfingers Luc's Base Breaking Strategy v2.5 - 3Commas Edition for an alternative)
❌ Manually/API* (Not handled since there is no equivalence in TradingView)
✅ Trading View custom signal
✅ Open new trade asap
Take profit
✅ Take profit (%)
✅ Take profit type
✅ Trailing
⚠ Trailing deviation* (modified to handle TradingView's broker emulator properly)
Stop loss
✅ Stop Loss (%)
✅ Stop Loss action
⚠ Stop Loss timeout* (modified to use "bars" as the unit of measure)
Safety orders
✅ Max safety trades count (a total of 100 safety orders are supported!)
⚠ Max active safety trades count* (Not handled since there is no equivalence in TradingView)
✅ Price deviation to open safety orders (% from initial order)
✅ Safety order volume scale
✅ Safety order step scale
Advanced settings
✅ Don't start deal(s) if the daily volume is less than
✅ Minimum price to open deal
✅ Maximum price to open deal
⚠ Deal start delay (QFL and standard TV signals only)* (modified to use "bars" as the unit of measure)
✅ Cooldown between deals
✅ Open deals & stop
Close deal after timeout
⚠ The time after which, deal will be closed automatically* (modified to use "bars" as the unit of measure)
In addition to the above inputs, the script will also support the same output data points that are found on the bot settings page, which are:
Assistant
✅ Balance
✅ Max amount for bot usage (Based on current rate)
✅ Max safety order price deviation
✅ % of available balance to be used by the bot
Table (Used amount for each step)
✅ Order No.
✅ Deviation %
✅ Order Size (Base currency)
✅ Order Volume (Quote currency)
✅ Price
✅ Average price
✅ Required price
✅ Required change
✅ Total Size (Base currency)
✅ Total Volume (Quote currency)
What does it do and how does it do it?
When applied to the chart for the first time, the default settings will work to execute the "Open new trade asap" deal start condition using a take profit of 4%, a base order size of 1.335% of equity (initial capital + net profit), a safety order size of 2.003% of equity (initial capital + net profit), a safety order volume scale of 1.5, a safety order step scale of 1.21, and a max safety trades count of 8. With these settings, as you scroll through the chart's history you should see price action crossing the DCA layers (denoted with blue triangles), and a green take-profit price line will render (with green triangle denoting the crossings). Lastly, in the upper-right corner of the chart the table of DCA statistics will render showing you all the gathered data that took place since the chart's starting history until the current time.
Using the "TV Custom Signal" section will allow you to "link" other chart indicators to supply "Start" and "Close" signals for the script. For example, here's how you can use the standard RSI indicator to generate an entry signal:
1) Add the stock RSI indicator and configure it to your desire.
2) Select the "RSI" indicator in the "Chart/Indicator Data Point" input.
3) Select "Chart/Indicator Data Point" in the "Start Deal When" input.
4) Select "Less Than" in the "Is" input.
5) Select "Custom Value(s)" in the "The Value Of" input.
6) Enter "25" in the "Custom Value 1 (Single or Lower Bound)" input.
7) Select "Trading View Custom Signal" in the "Open new trade" input (in the DEAL START CONDITION section).
8) Lastly, check the checkbox with a horizontal straight line above the "Start Deal When" input.
This means that the indicator will start a deal when the "RSI indicator" is "Less Than" the value of "25".
Strategy Results
The default settings are designed to ensure that the indicator will render chart elements when first loaded as well as to allow the backtester to gather order executions and display performance summary. The chart above is is using $10,000 initial capital, a commission rate of 0.1% for both entries and exits, and a 1 tick slippage setting. It is also using 3.22581% of the equity for the Base Order Size, 6.45161% of equity for the first Safety Order Size. The Maximum Safety Trade Count is 4 with a Safety Order Volume Scale of 2, a Safety Order Step Scale of 1.53, Price Deviation To Option Safety Orders at 5.3, and a take profit of 4.5% with Trailing turned on at a deviation of 1.5%. All other settings are defaults.
It is recommended that the indicator be "tuned" for your specific market in order to best implement the strategy and obtain better desirable results. You do so by using the backtester and statistics table and observe the output values and learn how the indicator is performing in the chart history. Using this information, you can adjust the settings accordingly until you find the settings acceptable to your trading goals and risk tolerance.
Always keep in mind that past performance may not be indicative of future results. Settings that seem favorable for one market may be found to be disastrous in another. Therefore, do take the time needed to understand how the settings will behave with the given chart symbol.
Enjoy! 😊👍
How to obtain access to the script?
You have two choices:
Use the "Website" link below to obtain access to this indicator, or
Send us a private message (PM) in TradingView itself.
Matrix Library (Linear Algebra, incl Multiple Linear Regression)What's this all about?
Ever since 1D arrays were added to Pine Script, many wonderful new opportunities have opened up. There has been a few implementations of matrices and matrix math (most notably by TradingView-user tbiktag in his recent Moving Regression script: ). However, so far, no comprehensive libraries for matrix math and linear algebra has been developed. This script aims to change that.
I'm not math expert, but I like learning new things, so I took it upon myself to relearn linear algebra these past few months, and create a matrix math library for Pine Script. The goal with the library was to make a comprehensive collection of functions that can be used to perform as many of the standard operations on matrices as possible, and to implement functions to solve systems of linear equations. The library implements matrices using arrays, and many standard functions to manipulate these matrices have been added as well.
The main purpose of the library is to give users the ability to solve systems of linear equations (useful for Multiple Linear Regression with K number of independent variables for example), but it can also be used to simulate 2D arrays for any purpose.
So how do I use this thing?
Personally, what I do with my private Pine Script libraries is I keep them stored as text-files in a Libraries folder, and I copy and paste them into my code when I need them. This library is quite large, so I have made sure to use brackets in comments to easily hide any part of the code. This helps with big libraries like this one.
The parts of this script that you need to copy are labeled "MathLib", "ArrayLib", and "MatrixLib". The matrix library is dependent on the functions from these other two libraries, but they are stripped down to only include the functions used by the MatrixLib library.
When you have the code in your script (pasted somewhere below the "study()" call), you can create a matrix by calling one of the constructor functions. All functions in this library start with "matrix_", and all constructors start with either "create" or "copy". I suggest you read through the code though. The functions have very descriptive names, and a short description of what each function does is included in a header comment directly above it. The functions generally come in the following order:
Constructors: These are used to create matrices (empy with no rows or columns, set shape filled with 0s, from a time series or an array, and so on).
Getters and setters: These are used to get data from a matrix (like the value of an element or a full row or column).
Matrix manipulations: These functions manipulate the matrix in some way (for example, functions to append columns or rows to a matrix).
Matrix operations: These are the matrix operations. They include things like basic math operations for two indices, to transposing a matrix.
Decompositions and solvers: Next up are functions to solve systems of linear equations. These include LU and QR decomposition and solvers, and functions for calculating the pseudo-inverse or inverse of a matrix.
Multiple Linear Regression: Lastly, we find an implementation of a multiple linear regression, including all the standard statistics one can expect to find in most statistical software packages.
Are there any working examples of how to use the library?
Yes, at the very end of the script, there is an example that plots the predictions from a multiple linear regression with two independent (explanatory) X variables, regressing the chart data (the Y variable) on these X variables. You can look at this code to see a real-world example of how to use the code in this library.
Are there any limitations?
There are no hard limiations, but the matrices uses arrays, so the number of elements can never exceed the number of elements supported by Pine Script (minus 2, since two elements are used internally by the library to store row and column count). Some of the operations do use a lot of resources though, and as a result, some things can not be done without timing out. This can vary from time to time as well, as this is primarily dependent on the available resources from the Pine Script servers. For instance, the multiple linear regression cannot be used with a lookback window above 10 or 12 most of the time, if the statistics are reported. If no statistics are reported (and therefore not calculated), the lookback window can usually be extended to around 60-80 bars before the servers time out the execution.
Hopefully the dev-team at TradingView sees this script and find ways to implement this functionality diretly into Pine Script, as that would speed up many of the operations and make things like MLR (multiple linear regression) possible on a bigger lookback window.
Some parting words
This library has taken a few months to write, and I have taken all the steps I can think of to test it for bugs. Some may have slipped through anyway, so please let me know if you find any, and I'll try my best to fix them when I have time to do so. This library is intended to help the community. Therefore, I am releasing the library as open source, in the hopes that people may improving on it, or using it in their own work. If you do make something cool with this, or if you find ways to improve the code, please let me know in the comments.
TE REKABThis indicator is the combination of RECAT & REVVIND published earlier with some extra features.
Core idea behind designing this tool is to IDENTIFY & TRADE REVERSALS in the live market. Reversal can be a TREND REVERSAL or a TEMPORARY PULL BACK. This tool works perfectly in both situations.
LOGIC:
Reversals are identified using:
- failure to break through long term support & resistance, pivots & daily H/L
- volume divergence
- orderflow concept of "skipping of prices".
- flow of price against the momentum during a trend.
Plots are 21/50/100 EMAs which are colour coded to represent the current trend.
ROYAL-BLUE CANDLES represent "ACTION CANDLES"; the high probability candles for finding best reversal trades.
HOW TO USE:
AFTER YOU APPLY THE SCRIPT.
1. WAIT FOR THE FORMATION NEON-BLUE/YELLOW COLOURED BARS AT/NEAR DAY HIGH/LOW.
Accuracy is highest when the REVERSALS are caught at/near DAY HIGH/LOW. I would suggest you to work only on near DAY HIGH/LOW candles.
Do not jump into the trade. Wait for the candle to close.
2. NEON-BLUE represents the start of a BEARISH TREND or simply "SELL SIGNAL".
YELLOW represents the beginning of a BULLISH TREND or simply "BUY SIGNAL".
3. If the NEON-BLUE candle is formed at/near DAY HIGH.
SELL below it's LOW with DAY HIGH as Stoploss. (Keep some BUFFER).
If the YELLOW candle is formed at/near DAY LOW.
BUY above it's HIGH with DAY LOW as Stoploss. (Keep some BUFFER).
4. TARGET
Risk : Reward = 1:1
Trail Stoploss for 1:2, 1:2.5, 1:3
NOTE:
REKAB can be used in any timeframe. However, lower timeframes tend to have more noise as compared to 15mins and above.
REKAB can be used with all the SCRIPTS. However, high volume scripts give better results.
THERE IS ABSOLUTELY NO REPAINTING AFTER THE CANDLE IS CLOSED.
THIS IS A PAID SCRIPT. FOR ACCESS PLEASE SEND A PRIVATE MESSAGE OR WHATSAPP ME (NUMBER IN SIGNATURES)
AS PER TRADINGVIEW POLICY, PLEASE DO NOT ASK FOR ACCESS IN COMMENTS SECTION.
[PX] External LevelHello everyone,
today I'd like to share a script, which enables you to use external logic to plot levels on your chart.
How does it work?
The concept is based on two scripts. One script, which uses an external input as a trigger to print a new level and one script that calculates an output, which will be fetched.
Sounds complicated? It really is not! Let's take a closer look.
// This source code is subject to the terms of the Mozilla Public License 2.0 at mozilla.org
// © paaax
//@version=4
study("RSI OS/OB")
l = input(14, "RSI Length")
ob = input(70, "Overbought")
os = input(30, "Oversold")
r = rsi(close, l)
hline(ob)
hline(os)
plot(r, "RSI", color=color.orange)
// The following plot produces an output, which will be fetched the "External Level"-script.
// It evaluates to one of the following three values: 1.0, -1.0 or 0.0
plot(crossover(r, ob) ? 1.0 : crossunder(r, os) ? -1.0 : 0.0, "Output", transp=100)
The example script above uses an RSI and two threshold levels (70 and 30). The logic here is, that whenever the RSI is crossing down the lower threshold or crossing up the upper threshold we'd consider the current movement to be either oversold or overbought. Therefore, it's a point of interest, which we could visualize with a level.
The script creates an output when the crossover or crossunder of a threshold happens. A crossover would result in a value of 1.0, a crossunder in a value of -1.0. In all other cases the value would be 0.0.
The output of the RSI script would then be used as an input of the External Level script, which has a "Source"-parameter in its input-section. If the fetched input shows 1.0, then the script prints a resistance level. If it shows -1.0 a support level will be printed. And that's basically it. A very simple approach to print levels on your chart with an infinite number of use cases.
For example, you could use fetch outputs from a MACD script, MA script, outputs based on volume or price movement. Just remember the output has to evaluate to either 1.0 or -1.0 and has to be selected in the input-section.
Hope that might be useful to some of you :)
Please click the "Like"-button and follow me for future open-source script publications.
If you are looking for help with your custom PineScript development, don't hesitate to contact me directly here on Tradingview or through the link in my signature :)
Trend Lines Pro for IndicatorsHello Traders!
We need to make things better & better to solve the puzzle and I try to do my best on this way. now I am here with my new Trend Lines Pro for Indicators script.
As you know, Trend Lines is very subjective and many people (even professionals) draw different Trend Lines on the same chart. This is confusing and there must be an automation to make the life easer. with this tool I tried to automate it.
The idea in this script is different from my previous trend lines scripts. In this, I use channel idea so it can check number of pivot points it contains. it also checks the angle while choosing trend lines. then we get stronger and useful Trend Lines automatically.
There are some option in the script, let see one by one:
Indicator: the indicator on which you want to see Trend lines, Predefined Indicators are: RSI, CCI(Commodity Channel Index), OBV(On-Balance Volume), Momentum, MACD, CMF(Chaikin Money Flow), External Indicator
External Indicator: with this option you can use other indicators as input and get trend lines for them.
- First add an indicator (such as MFI)
- in "Indicator" option select "External Indicator"
- click "External Indicator" option
- and choose the indicator from the list
Pivot Period: The Length to calculate Pivot Highs/Lows
Threshold Rate: This rate is used for channel width. it you give bigger numbers then you get bigger channels. it's 4 by default
Minimum Angle Rate for new Trendline: if there are different trend lines , there must be an angle between them to choose best trend lines . you can set the angle with this option.
Minimum Strength: there can be many trend lines but we need to choose/use stronger ones. with this option you can set the number of pivot points a trend channel have to contains. default value is 2
Maximum Loopback Length : by default the script can check 40 pivot highs and 40 pivot lows but to make the script faster and useful I needed to add a limitation for the number of bars that the script can go back.
Show Trendlines as: you can see trend lines as "Trendline", "Channel", "Trend Channel". you can see examples below.
Enable Weak Trend Lines : if there is no trend lines strong enough (as defined in "Minimum Strength" option) you have option to see a weak trend line . that is useful sometimes. if you enable this option weak lines are shown as dotted lines.
Show Price Labels on Trendlines: the script can show the price levels to break trend lines . the example
Line Style: trend lines can be Solid or Dashed as you wish
Color theme: colors of the Up/Down Trend lines can be set. Red, Lime, Blue, White, Black, Olive, Gray
Indicator color: colors of the Up/Down Trend lines can be set. Red, Lime, Blue, White, Black, Olive, Gray and Yellow
and last options are for length options for RSI, CCI, Momentum, MACD, CMF
There are many alerts such: Support/Resistance Broken, Price in Support/Resistance channel, Support/Resistance line broken but still in a channel that means it broke S/R but there is another trend lines to break.
Below an example how the script uses external indicator as input and draws trend lines on it. in this example chaikin ossilator was added to the chart and get trend lines for it. (I am going to make a short video about it)
An example of Trend Channel is below. when you use trend channel option you can get "big picture" of whats going on
An example for trend lines in channels, that is the idea behind this trend lines script
An axample for trend lines for CCI:
Trend lines on OBV:
Trend lines on Momentum:
Trend lines on MACD:
Trend lines on CMF:
Different colors and line styles:
Please send me message for access and do not hesitate to ask your questions about this tool.
Enjoy!
DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorized for our documents, script / strategy, and the information published with them. This informational planning script / strategy is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. I am not responsible for any losses you may incur. Please invest wisely.
Paid script
Trend Lines ProHello Traders!
We need to make things better & better to solve the puzzle and I try to do my best on this way. now I am here with my new Trend Lines Pro script.
As you know, Trend Lines is very subjective and many people (even professionals) draw different Trend Lines on the same chart. This is confusing and there must be an automation to make the life easer. with this tool I tried to automate it.
The idea in this script is different from my previous trend lines scripts. In this, I use channel idea so it can check number of pivot points it contains, it checks H/L/C in the channels as well. it also checks the angle while choosing trend lines. then we get stronger and useful Trend Lines automatically.
There are some option in the script, let see one by one:
Pivot Period: The Length to calculate Pivot Highs/Lows
Source : Option to use "High/Low" or "Close" as the source for Pivot Points
Threshold Rate : This rate is used for channel width. it you give bigger numbers then you get bigger channels. it's 4 by default
Minimum Angle Rate for new Trendline: if there are different trend lines, there must be an angle between them to choose best trend lines. you can set the angle with this option.
Minimum Strength: there can be many trend lines but we need to choose/use stronger ones. with this option you can set the number of pivot points a trend channel have to contains.
Maximum Loopback Length: by default the script can check 40 pivot highs and 40 pivot lows but to make the script faster and useful I needed to add a limitation for the number of bars that the script can go back.
Show Trendlines as: you can see trend lines as "Trendline", "Channel", "Trend Channel". you can see examples below.
Enable Weak Trend Lines: if there is no trend lines strong enough (as defined in "Minimum Strength" option) you have option to see a weak trend line. that is useful sometimes. if you enable this option weak lines are shown as dotted lines.
Show Price Labels on Trendlines: the script can show the price levels to break trend lines. the examples are below
Line Style: trend lines can be Solid or Dashed as you wish
Color theme: colors of the Up/Down Trend lines can be set. 'Red', Lime, Blue, White, Black, Olive, Gray
you can see the Trend Lines as channels:
you can see Trend Channels to see the big picture.also there is dotted trend line as weak trend line defined above.
you can set color/width of trend lines as you wish.
the script is fast enough to run on 1sec chart:
you can use this script on any chart, fx pairs, stocks, indices etc
I made a short video to explain how to use it and some options:
Please PM for access.
Enjoy!
DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorized for our documents, script / strategy, and the information published with them. This informational planning script / strategy is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. I am not responsible for any losses you may incur. Please invest wisely.
Paid script
Superior-Range Bound Renko - Alerts - 11-29-25 - Signal LynxSuperior-Range Bound Renko – Alerts Edition with Advanced Risk Management Template
Signal Lynx | Free Scripts supporting Automation for the Night-Shift Nation 🌙
1. Overview
This is the Alerts & Indicator Edition of Superior-Range Bound Renko (RBR).
The Strategy version is built for backtesting inside TradingView.
This Alerts version is built for automation: it emits clean, discrete alert events that you can route into webhooks, bots, or relay engines (including your own Signal Lynx-style infrastructure).
Under the hood, this script contains the same core engine as the strategy:
Adaptive Range Bounding based on volatility
Renko Brick Emulation on standard candles
A stack of Laguerre Filters for impulse detection
K-Means-style Adaptive SuperTrend for trend confirmation
The full Signal Lynx Risk Management Engine (state machine, layered exits, AATS, RSIS, etc.)
The difference is in what we output:
Instead of placing historical trades, this version:
Plots the entry and RM signals in a separate pane (overlay = false)
Exposes alertconditions for:
Long Entry
Short Entry
Close Long
Close Short
TP1, TP2, TP3 hits (Staged Take Profit)
This makes it ideal as the signal source for automated execution via TradingView Alerts + Webhooks.
2. Quick Action Guide (TL;DR)
Best Timeframe:
4H and above. This is a swing-trading / position-trading style engine, not a micro-scalper.
Best Assets:
Volatile but structured markets, e.g.:
BTC, ETH, XAUUSD (Gold), GBPJPY, and similar high-volatility majors or indices.
Script Type:
indicator() – Alerts & Visualization Only
No built-in order placement
All “orders” are emitted as alerts for your external bot or manual handling
Strategy Type:
Volatility-Adaptive Trend Following + Impulse Detection
using Renko-like structure and multi-layer Laguerre filters.
Repainting:
Designed to be non-repainting on closed candles.
The underlying Risk Management engine is built around previous-bar data (close , high , low ) for execution-critical logic.
Intrabar values can move while the bar is forming (normal for any advanced signal), but once a bar closes, the alert logic is stable.
Recommended Alert Settings:
Condition: one of the built-in signals (see section 3.B)
Options: “Once Per Bar Close” is strongly recommended for automation
Message: JSON, CSV, or simple tokens – whatever your webhook / relay expects
3. Detailed Report: How the Alerts Edition Works
A. Relationship to the Strategy Version
The Alerts Edition shares the same internal logic as the strategy version:
Same Adaptive Lookback and volatility normalization
Same Range and Close Range construction
Same Renko Brick Emulator and directional memory (renkoDir)
Same Fib structures, Laguerre stack, K-Means SuperTrend, and Baseline signals (B1, B2)
Same Risk Management Engine and layered exits
In the strategy script, these signals are wired into strategy.entry, strategy.exit, and strategy.close.
In the alerts script:
We still compute the final entry/exit signals (Fin, CloseEmAll, TakeProfit1Plot, etc.)
Instead of placing trades, we:
Plot them for visual inspection
Expose them via alertcondition(...) so that TradingView can fire alerts.
This ensures that:
If you use the same settings on the same symbol/timeframe, the Alerts Edition and Strategy Edition agree on where entries and exits occur.
(Subject only to normal intrabar vs. bar-close differences.)
B. Signals & Alert Conditions
The alerts script focuses on discrete, automation-friendly events.
Internally, the main signals are:
Fin – Final entry decision from the RM engine
CloseEmAll – RM-driven “hard close” signal (for full-position exits)
TakeProfit1Plot / 2Plot / 3Plot – One-time event markers when each TP stage is hit
On the chart (in the separate indicator pane), you get:
plot(Fin) – where:
+2 = Long Entry event
-2 = Short Entry event
plot(CloseEmAll) – where:
+1 = “Close Long” event
-1 = “Close Short” event
plot(TP1/TP2/TP3) (if Staged TP is enabled) – integer tags for TP hits:
+1 / +2 / +3 = TP1 / TP2 / TP3 for Longs
-1 / -2 / -3 = TP1 / TP2 / TP3 for Shorts
The corresponding alertconditions are:
Long Entry
alertcondition(Fin == 2, title="Long Entry", message="Long Entry Triggered")
Fire this to open/scale a long position in your bot.
Short Entry
alertcondition(Fin == -2, title="Short Entry", message="Short Entry Triggered")
Fire this to open/scale a short position.
Close Long
alertcondition(CloseEmAll == 1, title="Close Long", message="Close Long Triggered")
Fire this to fully exit a long position.
Close Short
alertcondition(CloseEmAll == -1, title="Close Short", message="Close Short Triggered")
Fire this to fully exit a short position.
TP 1 Hit
alertcondition(TakeProfit1Plot != 0, title="TP 1 Hit", message="TP 1 Level Reached")
First staged take profit hit (either long or short). Your bot can interpret the direction based on position state or message tags.
TP 2 Hit
alertcondition(TakeProfit2Plot != 0, title="TP 2 Hit", message="TP 2 Level Reached")
TP 3 Hit
alertcondition(TakeProfit3Plot != 0, title="TP 3 Hit", message="TP 3 Level Reached")
Together, these give you a complete trade lifecycle:
Open Long / Short
Optionally scale out via TP1/TP2/TP3
Close remaining via Close Long / Close Short
All while the Risk Management Engine enforces the same logic as the strategy version.
C. Using This Script for Automation
This Alerts Edition is designed for:
Webhook-based bots
Execution relays (e.g., your own Lynx-Relay-style engine)
Dedicated external trade managers
Typical setup flow:
Add the script to your chart
Same symbol, timeframe, and settings you use in the Strategy Edition backtests.
Configure Inputs:
Longs / Shorts enabled
Risk Management toggles (SL, TS, Staged TP, AATS, RSIS)
Weekend filter (if you do not want weekend trades)
RBR-specific knobs (Adaptive Lookback, Brick type, ATR vs Standard Brick, etc.)
Create Alerts for Each Event Type You Need:
Long Entry
Short Entry
Close Long
Close Short
TP1 / TP2 / TP3 (optional, if your bot handles partial closes)
For each:
Condition: the corresponding alertcondition
Option: “Once Per Bar Close” is strongly recommended
Message:
You can use structured JSON or a simple token set like:
{"side":"long","event":"entry","symbol":"{{ticker}}","time":"{{timenow}}"}
or a simpler text for manual trading like:
LONG ENTRY | {{ticker}} | {{interval}}
Wire Up Your Bot / Relay:
Point TradingView’s webhook URL to your execution engine
Parse the messages and map them into:
Exchange
Symbol
Side (long/short)
Action (open/close/partial)
Size and risk model (this script does not position-size for you; it only signals when, not how much.)
Because the alerts come from a non-repainting, RM-backed engine that you’ve already validated via the Strategy Edition, you get a much cleaner automation pipeline.
D. Repainting Protection (Alerts Edition)
The same protections as the Strategy Edition apply here:
Execution-critical logic (trailing stop, TP triggers, SL, RM state changes) uses previous bar OHLC:
open , high , low , close
No security() with lookahead or future-bar dependencies.
This means:
Alerts are designed to fire on states that would have been visible at bar close, not on hypothetical “future history.”
Important practical note:
Intrabar: While a bar is forming, internal conditions can oscillate.
Bar Close: With “Once Per Bar Close” alerts, the fired signal corresponds to the final state of the engine for that candle, matching your Strategy Edition expectations.
4. For Developers & Modders
You can treat this Alerts script as an ”RM + Alert Framework” and inject any signal logic you want.
Where to plug in:
Find the section:
// BASELINE & SIGNAL GENERATION
You’ll see how B1 and B2 are built from the RBR stack and then combined:
baseSig = B2
altSig = B1
finalSig = sigSwap ? baseSig : altSig
To use your own logic:
Replace or wrap the code that sets baseSig / altSig with your own conditions:
e.g., RSI, MACD, Heikin Ashi filters, candle patterns, volume filters, etc.
Make sure your final decision is still:
2 → Long / Buy signal
-2 → Short / Sell signal
0 → No trade
finalSig is then passed into the RM engine and eventually becomes Fin, which:
Drives the Long/Short Entry alerts
Interacts with the RM state machine to integrate properly with AATS, SL, TS, TP, etc.
Because this script already exposes alertconditions for key lifecycle events, you don’t need to re-wire alerts each time — just ensure your logic feeds into finalSig correctly.
This lets you use the Signal Lynx Risk Management Engine + Alerts wrapper as a drop-in chassis for your own strategies.
5. About Signal Lynx
Automation for the Night-Shift Nation 🌙
Signal Lynx builds tools and templates that help traders move from:
“I have an indicator” → “I have a structured, automatable strategy with real risk management.”
This Superior-Range Bound Renko – Alerts Edition is the automation-focused companion to the Strategy Edition. It’s designed for:
Traders who backtest with the Strategy version
Then deploy live signals with this Alerts version via webhooks or bots
While relying on the same non-repainting, RM-driven logic
We release this code under the Mozilla Public License 2.0 (MPL-2.0) to support the Pine community with:
Transparent, inspectable logic
A reusable Risk Management template
A reference implementation of advanced adaptive logic + alerts
If you are exploring full-stack automation (TradingView → Webhooks → Exchange / VPS), keep Signal Lynx in your search.
License: Mozilla Public License 2.0 (Open Source).
If you build improvements or helpful variants, please consider sharing them back with the community.
Intraday Rising & Reversal ScannerPine Script Description: Intraday Rising & Reversal ScannerThis Pine Script is a TradingView indicator designed to identify stocks with intraday (1-hour timeframe) potential for bullish (rising) or bearish (reversal) movements. It scans for stocks based on user-defined technical criteria, including price change, relative volume, RSI, EMA, ATR, and VWAP. The script plots signals on the chart, displays a summary table, and triggers alerts when conditions are met.FeaturesBullish Signal (Rising Stocks):1H Price Change: > 1% (configurable, e.g., >2% for volatile markets).
Relative Volume: > 2.0 (volume is at least twice the 20-period average).
RSI (14): Between 50 and 70 (strong but not overbought momentum).
Price vs EMA 13: Price above the 13-period EMA (confirms short-term uptrend).
ATR (14): Current ATR above its 20-period average (indicates volatility).
VWAP: Price above VWAP (optional, shown on chart for manual confirmation).
Bearish Signal (Reversal Stocks):1H Price Change: < -1% (configurable, e.g., <-2% for stronger reversals).
Relative Volume: > 2.0 (high volume confirms selling pressure).
RSI (14): > 70 (overbought, increasing reversal likelihood).
Price vs EMA 13: Price below the 13-period EMA (confirms short-term downtrend).
ATR (14): Current ATR above its 20-period average (indicates volatility).
VWAP: Price below VWAP (optional, shown on chart for manual confirmation).
Visualization:Bullish Signal: Green triangle below the bar.
Bearish Signal: Red triangle above the bar.
VWAP: Plotted as a blue line for manual verification.
Table: Displays real-time metrics (Change %, Relative Volume, RSI, Price vs EMA, ATR, VWAP) in the top-right corner, color-coded (green for bullish, red for bearish).
Alerts:Separate alerts for bullish ("Intraday Bullish Signal") and bearish ("Intraday Bearish Signal") conditions.
Customizable alert messages include parameter values for easy tracking.
How It WorksThe script runs on the 1-hour (1H) timeframe, ensuring all calculations are based on hourly data.
Indicators are computed:Change %: Percentage price change over the last hour.
Relative Volume: Current volume divided by the 20-period SMA of volume.
RSI: 14-period Relative Strength Index.
EMA 13: 13-period Exponential Moving Average.
ATR: 14-period Average True Range, compared to its 20-period SMA.
VWAP: Volume Weighted Average Price, plotted for visual confirmation.
Signals are generated when all conditions for either bullish or bearish criteria are met.
A table summarizes key metrics, and alerts can be set up for real-time notifications.
Usage InstructionsApply the Script:Open TradingView’s Pine Editor.
Copy and paste the script.
Click "Add to Chart" and set the chart to the 1-hour (1H) timeframe.
Set Up Alerts:Right-click on the chart > "Add Alert".
Select "Intraday Bullish Signal" or "Intraday Bearish Signal" as the condition.
Configure notifications (e.g., SMS, email, or TradingView alerts).
Manual VWAP Check:VWAP is plotted as a blue line. Verify that the price is above VWAP for bullish signals or below for bearish signals using the table or chart.
To make VWAP a mandatory filter, uncomment the VWAP conditions in the bull_signal and bear_signal definitions.
Black–Scholes model - Options premium calculatorBlack-Scholes Options Pricing Calculator in Pine Script Introduction
The Black-Scholes model is one of the most widely used mathematical models for pricing options. It provides a theoretical estimate of the price of European-style options based on factors such as the underlying asset price, strike price, time to expiration, volatility, risk-free rate, and option type.
This Pine Script implementation of the Black-Scholes options pricing model enables traders to calculate call and put option prices directly within TradingView, helping them assess potential trades more efficiently.
What Does This Script Do?
This script allows traders to input essential option parameters and instantly calculate both call and put option prices using the Black-Scholes formula. It provides:
• A user-friendly interface for inputting option parameters.
• Automatic computation of option prices.
• Real-time updates as market data changes.
Key Features:
• Uses the Black-Scholes formula to compute European call and put option prices.
• User-defined inputs for stock price, strike price, time to expiration, volatility, and risk-free rate.
• Displays calculated option prices on the TradingView chart.
Understanding the Black-Scholes Formula:
The Black-Scholes model is given by the following equations:
C=S0N(d1)−Xe−rtN(d2)C = S_0 N(d_1) - Xe^{-rt} N(d_2) P=Xe−rtN(−d2)−S0N(−d1)P = Xe^{-rt} N(-d_2) - S_0 N(-d_1)
Where:
• CC = Call option price
• PP = Put option price
• S0S_0 = Current stock price
• XX = Strike price
• rr = Risk-free interest rate
• tt = Time to expiration (in years)
• σ\sigma = Volatility of the stock (annualized)
• N(x)N(x) = Cumulative standard normal distribution
• d1d_1 and d2d_2 are given by:
d1=ln(S0/X)+(r+σ2/2)tσtd_1 = \frac{ \ln(S_0/X) + (r + \sigma^2/2)t }{ \sigma \sqrt{t} } d2=d1−σtd_2 = d_1 - \sigma \sqrt{t}
This script implements these calculations efficiently in Pine Script to help traders quickly determine fair values for options based on current market conditions.
Example Calculation:
(The following example values were true at the time of publishing this script. Option prices fluctuate constantly, so actual values may vary.)
• Underlying asset price (NIFTY): 23,519.35
• ATM Call Strike Price: 23,500
• ATM Put Strike Price: 23,550
• IV (Implied Volatility) for Call Option: 8.1%
• IV (Implied Volatility) for Put Option: 10.1%
• Expiry Date: April 3, 2025
Using the Black-Scholes model, the calculated theoretical prices are:
• Theoretical ATM CE price: ₹129
• Theoretical ATM PE price: ₹118
For comparison, the actual option prices from the option chain table at the time of writing were:
• Actual ATM CE price: ₹139.70
• Actual ATM PE price: ₹120.30
As we can see, there is a larger difference between the theoretical price and actual market price for the ATM Call option compared to the ATM Put option.
If you're an experienced trader, you likely know how to use this kind of information to identify potential market inefficiencies or trading opportunities.
How to Use This Script:
1. Add the script to your TradingView chart.
2. Input the necessary parameters such as stock price, strike price, volatility, risk-free rate, and time to expiration.
3. View the calculated call and put option prices directly on the chart.
This Black-Scholes options pricing calculator provides a convenient way to compute theoretical option prices within TradingView. It helps traders analyse whether an option is fairly priced based on market conditions.
While the Black-Scholes model has its limitations (e.g., it does not account for early exercise of American options or dividend payments), it remains a powerful tool for European-style options pricing and a foundational concept in financial markets.
A handy little tool! Unfortunately, this script requires manual data entry since automatic data capture is currently not possible. If this ever becomes feasible in the future, an updated version will be released.
Try it out and let me know your feedback!
Disclaimer:
Please note that this is only for study/educational purpose and is just one of the many tools a trader may use.
Use it at your own risk.
Regards!
Watchlist & Symbols Distribution [Daveatt]TLDR;
I got bored so I just coded the TradingView watchlist interface in Pinescript :)
TLDR 2:
Sharing it open-source what took me 1 full day to code - haven't coded in Pinescript in a long time, so I'm a bit slow for now :)
█ OVERVIEW
This script offers a comprehensive market analysis tool inspired by TradingView's native watchlist interface features.
It combines an interactive watchlist with powerful distribution visualization capabilities and a performance comparison panel.
The script was developed with a focus on providing multiple visualization methods while working within PineScript's limitations.
█ DEVELOPMENT BACKGROUND
The pie chart implementation was greatly inspired by the ( "Crypto Map Dashboard" script / )
adapting its circular visualization technique to create dynamic distribution charts. However, due to PineScript's 500-line limitation per script, I had to optimize the code to allow users to switch between pie chart analysis and performance comparison modes rather than displaying both simultaneously.
█ SETUP AND DISPLAY
For optimal visualization, users need to adjust the chart's display settings manually.
This involves:
Expanding the indicator window vertically to accommodate both the watchlist and graphical elements
Adjusting the Y-axis scale by dragging it to ensure proper spacing for the comparison panel grid
Modifying the X-axis scale to achieve the desired time window display
Fine-tuning these adjustments whenever switching between pie chart and comparison panel modes
These manual adjustments are necessary due to PineScript's limitations in controlling chart scaling programmatically. While this requires some initial setup, it allows users to customize the display to their preferred viewing proportions.
█ MAIN FEATURES
Distribution Analysis
The script provides three distinct distribution visualization modes through a pie chart.
Users can analyze their symbols by exchanges, asset types (such as Crypto, Forex, Futures), or market sectors.
If you can't see it well at first, adjust your chart scaling until it's displayed nicely.
Asset Exchanges
www.tradingview.com
Asset Types
Asset Sectors
The pie charts feature an optional 3D effect with adjustable depth and angle parameters. To enhance visual customization, four different color schemes are available: Default, Pastel, Dark, and Neon.
Each segment of the pie chart includes interactive tooltips that can be configured to show different levels of detail. Importantly, the pie chart only visualizes the distribution of selected assets (those marked with a checkmark in the watchlist), providing a focused view of the user's current interests.
Interactive Watchlist
The watchlist component displays real-time data for up to 10 user-defined symbols. Each entry shows current price, price changes (both absolute and percentage), volume metrics, and a comparison toggle.
The table is dynamically updated and features color-coded entries that correspond to their respective performance lines in the comparison chart. The watchlist serves as both an information display and a control panel for the comparison feature.
Performance Comparison
One of the script's most innovative features is its performance comparison panel.
Using polylines for smooth visualization, it tracks the 30-day performance of selected symbols relative to a 0% baseline.
The comparison chart includes a sophisticated grid system with 5% intervals and a dynamic legend showing current performance values.
The polyline implementation allows for fluid, continuous lines that accurately represent price movements, providing a more refined visual experience than traditional line plots. Like the pie charts, the comparison panel only displays performance lines for symbols that have been selected in the watchlist, allowing users to focus on their specific assets of interest.
█ TECHNICAL IMPLEMENTATION
The script utilizes several advanced PineScript features:
Dynamic array management for symbol tracking
Polyline-based charting for smooth performance visualization
Real-time data processing with security calls
Interactive tooltips and labels
Optimized drawing routines to maintain performance
Selective visualization based on user choices
█ CUSTOMIZATION
Users can personalize almost every aspect of the script:
Symbol selection and comparison preferences
Visual theme selection with four distinct color schemes
Pie chart dimensions and positioning
Tooltip information density
Component visibility toggles
█ LIMITATIONS
The primary limitation stems from PineScript's 500-line restriction per script.
This constraint necessitated the implementation of a mode-switching system between pie charts and the comparison panel, as displaying both simultaneously would exceed the line limit. Additionally, the script relies on manual chart scale adjustments, as PineScript doesn't provide direct control over chart scaling when overlay=false is enabled.
However, these limitations led to a more focused and efficient design approach that gives users control over their viewing experience.
█ CONCLUSION
All those tools exist in the native TradingView watchlist interface and they're better than what I just did.
However, now it exists in Pinescript... so I believe it's a win lol :)
Supertrend Alert with Arrows and Time FilterOverview
This script is designed to generate trading signals based on the Supertrend indicator, a popular technical analysis tool. The Supertrend indicator is used to identify the direction of the market trend and potential reversal points.
Supertrend Settings
The script uses two sets of Supertrend settings:
Small Supertrend
Factor: 3.0
ATR Period: 10
Big Supertrend
Factor: 10.0
ATR Period: 30
These settings are fixed and should not be altered to maintain the integrity of the signal generation process.
Configurable Parameters
startHour: The hour at which signal generation begins.
endHour: The hour at which signal generation ends.
These parameters allow users to focus on specific trading hours, optimizing the signal relevance to their trading strategy.
Signal Types
The script generates two types of signals:
Type 1: Reversal Signal
Long Signal: Triggered when the big Supertrend is in an uptrend, and the small Supertrend transitions from a downtrend to an uptrend.
Short Signal: Triggered when the big Supertrend is in a downtrend, and the small Supertrend transitions from an uptrend to a downtrend.
Type 2: Trend Change Signal
Long Signal: Triggered when the big Supertrend changes from a downtrend to an uptrend.
Short Signal: Triggered when the big Supertrend changes from an uptrend to a downtrend.
How the Script Works
Initialization: The script initializes with predefined Supertrend settings.
Data Input: Market data (e.g., price data) is fed into the script.
Supertrend Calculation: The script calculates the Supertrend values using the predefined factors and ATR periods.
Signal Detection: The script monitors the Supertrend values and detects the defined signals based on the conditions mentioned above.
Time Filtering: Signals are filtered based on the specified startHour and endHour, ensuring only relevant signals are displayed within the desired timeframe.
Usage
Set Parameters: Define startHour and endHour according to your trading schedule.
Run Script: Execute the script with market data input.
Interpret Signals: Monitor the generated signals and use them to inform your trading decisions.
Originality
Dual Supertrend Usage: The use of both a small and a big Supertrend to generate signals adds a layer of complexity and reliability to the signals.
Time-Based Filtering: Allows traders to focus on specific trading hours, enhancing the relevance and accuracy of signals.
Two Signal Types: The combination of reversal signals and trend change signals provides comprehensive market insights.
Conclusion
This Supertrend Signal Generator is a robust tool for traders seeking to leverage the Supertrend indicator for more informed trading decisions. By combining dual Supertrend settings and configurable trading hours, the script offers unique and flexible signal generation capabilities.
Waves MultiTimeframe AlfredThe price on the charts moves quite chaotically, but when we look at a given interval (and eliminate the noise created on the lower interval), we can distinguish trend price movements up and down. They are almost never a straight line, but the price reaches higher and higher lows - we have up trend or lower and lower highs when we have a down trend.
There are many theories trying to describe trend movements, and many trend change detectors have been created on their basis.
In last centry we we had few famous researchers of investment theories, one of them was the Japanese journalist and investor Goichi Hosoda, creator of Ichimoku trading theory.
Goichi Hosoda proposed a trend change detector called Kyushu Legs. This detector compares the values of the current price with the price from 9 weeks ago and illustrates them using a candlestick chart. Than on the chart we can distinguishes B, P, Y formations that allow us to determine the trend and notify about trend change moment. This idea was developed further. The set of Kyushu Legs formations (B, P, Y) has been transferred to raw price chart and transformed into a set of rules detecting trend changes on the current price chart. A unique feature this method is the comparison of the parameters of neighboring candles in order to dynamically determine the values beyond which the trend changes. This eliminate the need of predefined threshold values and adjusting it to different price ranges.
Described trend detector is available on TradingView under the name "Waves" and was a starting point of a whole package of "Waves" scripts built around this detector.
"Waves MultiTimeframe Alfred" is part of the "Waves" package. It is an extension of trend detector with the ability to analyze in parallel candle data taken from higher intervals. Thanks to that this detector detects moments of trend changes on many intervals at once.
In top-right corner it displays a window with basic informations about trend (and potencial trend change moment) at higher intervals, such as:
- Trend direction confirmed on last closed candle
- In real time trend direction with the assumption that candle will be closes at current price level.
- Time to current candle close
- Price change done by the current candle
- Price's distance to the trend change threshold
Trend direction and potencial trend change are shown with a symbols:
↗ - Continuation of up trend
↘ - Continuation of down trend
↺ - Trend change to up trend
↷ - Trend change to down trend
This script supports 2 trend detection rulesets:
- Low - More sensitive trend detection ruleset, detects changes faster and more often than Medium, announcing potential changes in the Medium trend
- Medium - Less sensitive trend detection ruleset detecting trends on the chart.
Remember, until candle is not close price can move and trend indication can change. All trend indicators have a delay and are describing past till now. Future prediction cannot be done by software.
This script can be used alone, but the creator's intention was to use it together with other scripts from the "Waves" package. e.g. It can be used with the "Waves" script which draw trend lines and trend change moments on the current interval and we can use "Waves MultiTimeframe Alfred" as an assistant showing basic trends situation on up to 3 higher intervals.
Script settings:
Timeframe 1,2,3 - Option to pick 3 higher timeframes with text and background color settings.
Timer - Showing count down timer to the end of current bar on that interval
Candles - Showing candle symbol with current price change done on that interval. A separate candle color can be picked for price up and down candles.
Low wave row - Row with low trend symbol and price distance to the current low trend threshold (trend change price).
↗ - Continuation of up trend
↘ - Continuation of down trend
↺ - Trend change to up trend
↷ - Trend change to down trend
Low wave last bar symbol - Symbol of trend confirmed by previous bar. Drawn in the first line before interval symbol:
↗ - up trend
↘ - down trend
Mid wave row - Row with mid trend symbol and price distance to the current mid trend threshold (trend change price).
↗ - Continuation of up trend
↘ - Continuation of down trend
↺ - Trend change to up trend
↷ - Trend change to down trend
Mid wave last bar symbol - Symbol of trend confirmed by previous bar. Drawn in the first line after interval symbol:
↗ - up trend
↘ - down trend
Warnings - Showing explanation messages when interval data are not available.
Signal change - Experimental option to signal trend change with a different color.
Troubleshooting:
In case of any problems, please send error details to the author of the script.
dashboard MTF,EMA User Guide: Dashboard MTF EMA
Script Installation:
Copy the script code.
Go to the script window (Pine Editor) on TradingView.
Paste the code into the script window.
Save the script.
Adding the Script to the Chart:
Return to your chart on TradingView.
Look for the script in the list of available scripts.
Add the script to the chart.
Interpreting the Table:
On the right side of the chart, you will see a table labeled "EMA" with arrows.
The rows correspond to different timeframes: 5 minutes (5M), 15 minutes (15M), 1 hour (1H), 4 hours (4H), and 1 day (1D).
Understanding the Arrows:
Each row of the table has two columns: "EMA" and an arrow.
"EMA" indicates the trend of the Exponential Moving Average (EMA) for the specified period.
The arrow indicates the direction of the trend: ▲ for bullish, ▼ for bearish.
Table Colors:
The colors of the table reflect the current trend based on the comparison between fast and slow EMAs.
Blue (▲) indicates a bullish trend.
Red (▼) indicates a bearish trend.
Table Theme:
The table has a dark (Dark) or light (Light) theme according to your preference.
The background, frame, and colors are adjusted based on the selected theme.
Usage:
Use the table as a quick indicator of trends on different timeframes.
The arrows help you quickly identify trends without navigating between different time units.
Designed to simplify analysis and avoid cluttering the chart with multiple indicators.
Elliot wavesA script marking Elliot waves on a chart.
This script can be used by any user. There is no need to have a PRO or PREMIUM account.
Script with limited access, contact author to get authorization
According to Elliott, a market cycle consists of eight waves. 5 upward waves and 3 downward waves following them, which are their corrections. In up and down movements, the odd waves are in the direction of the movement, and the even waves are their corrections. Analyzing in more detail, each direction movement again consists of 5 waves, and each correction consists of 3 waves.
The symbols used are non-standard (result of platform limitations):
Trend moves ⠀⠀⠀⠀⠀|⠀⠀Correction moves
𝐈 𝐈𝐈 𝐈𝐈𝐈 𝐈𝐕 𝐕 ⠀⠀⠀⠀⠀ |⠀⠀⠀ 𝐚 𝐛 𝐜
𝟏 𝟐 𝟑 𝟒 𝟓 ⠀⠀⠀⠀⠀⠀⠀|⠀⠀⠀ 𝐀 𝐁 𝐂
I II III IV V ⠀⠀⠀⠀⠀⠀⠀|⠀⠀⠀ a b c
1 2 3 4 5 ⠀⠀⠀⠀⠀⠀⠀ |⠀⠀⠀ A B C
(I) (II) (III) (IV) (V) ⠀ |⠀⠀⠀(a) (b) (c)
(1) (2) (3) (4) (5)⠀⠀ |⠀⠀⠀(A) (B) (C)
➀ ➁ ➂ ➃ ➄ ⠀⠀⠀⠀⠀ |⠀⠀⠀Ⓐ Ⓑ Ⓒ
❶ ❷ ❸ ❹ ❺ ⠀⠀⠀⠀⠀ |⠀⠀⠀🅐 🅑 🅒
This script is a part of the "Elliot waves" toolkit and require initial calibration done with separate script: "Elliot waves calibrator". Elliot waves calibrator will generate a set of numbers that you need to copy to Calibration params in script settings. Proper instruction will be shown on the screen.
Script settings:
Calibration - Fields used for script calibration.
Levels - Param deciding how many levels of waves should be shown on the chart. 0 is showing only the main waves, with +1 increase adding one more level of details.
Vertex filter - Filter eliminating highs and lows that are not an extreme over area width equal to vertex filter value.
8 sets of trend configurations, where you can specify: visiblity, line color, line width
Labels configuration where you can specify: visiblity, text size and text color.
Troubleshooting:
In case of any problems, please send error details to the author of the script.
Tick travel ⍗This script is a further exploration of 'ticks' (only on realtime - live bars), based on my previous script:
- www.tradingview.com -
What are 'ticks'?
... Once the script’s execution reaches the rightmost bar in the dataset, if trading is currently active on the chart’s symbol,
then Pine indicators will execute once every time an update occurs, i.e., price or volume changes ...
(www.tradingview.com)
This script has 2 parts:
1) Option: ' Tick up/down'
This is a further progression of previous work.
During bar development, every time there is an update (tick), a dot is placed.
If for example there is 1 tick (first of new bar), a dot will be placed on 1,
if it is the 8th tick off that bar, there will be a dot placed on 8.
While my previous script had the issue that there was an upper limit per bar (max 32),
this script (because it is working with labels) can place max 500 dots.
For each bar this is better, it has to be mentioned though that looking in history, once the limit of 500 has been reached,
you'll notice the last ones are being deleted. This is one of the reasons the script is not suitable for higher timeframes
(1h and higher, even higher than 5 minutes can give some issues if it is a highly traded ticker), if a bar would have more
than 500 ticks, they won't be drawn anymore (which is not desirable of course)
2) Option: ' Tick progression'
These are the same ticks, but placed on the candle itself, or you can show the candle:
Or 'without' candle (or 'black' colour):
When 'No candles' are enabled, the 'candles' get the colour at the right.
At the moment it is not possible to drawn between 2 candles, this technique uses labels with 'text',
each tick on a candle will have a 'space' added, so you can see a progression to the right.
Colours
- if price is higher than previous tick price -> green
- if price is lower than previous tick price -> red
- otherwise -> blue (dimmed)
There are options to choose the 'dot', when choosing 'custom',
just enter (copy/paste) your symbol of your choice in the 'custom' field:
Caveats:
- Labels and text will not always be exactly on the price itself
- The scripts needs more testings, possibly some ticks don't always get drawn as they should.
The lower the timeframe, the more possible issues can occur
- Since (candle option) the dots move to the right, the higher the timeframe and/or the more ticks,
the sooner ticks will go in the area of next candle.
That's why I made a separate 'start symbol'
-> This is the very first tick on each candle, then you can zoom in/out more easily until the dots don't merge into each other candle area:
A timeframe higher than 5 minutes mostly won't be feasible I believe
This script wouldn't be possible without the help of @LucF, also because of his script
With very much respect I am hugely inspired by him! Many Thanks to him, Tradingview, and everything associated with them!
Cheers!
PriceCatch Breakout Signals IOHi TradingView Community.
Here is a script that identifies and marks two different breakout levels on the chart. It works on all instruments - equities, forex, crypto & commodities.
Probable Breakout Buy Level
Stop-Reverse Buy Level
The above chart is self-explanatory. The script uses two different formulas to look out for breakouts. This logic opens up more opportunities.
As the levels are marked in advance before the breakouts occur, it will give traders ample time to study further and plan the trade.
PLAYING SAFE
After taking the trade, to play safe, I follow this method that once the Low of the price goes above the Breakout Level, I usually shift the stop loss to buy price to protect against any sudden reversal. For me protecting capital is important. As usual with price action, longer time-frames produce more reliable signals.
STOP LOSS
While the initial stop level is suggested, traders may also use the ATR to set stop loss. Users may find my free script 'ATR value on Chart' useful.
NOTE - PRIOR TO USING THIS SCRIPT:
You may use this script in addition to your other indicators or independently. Please remember that the script is shared with absolutely no assurances and warranties whatsoever regarding usability and as a responsible trader, please satisfy yourselves thoroughly and use it only if you are convinced it works for you. Remember, you are 100% responsible for your actions. If you understand and accept that, you may use the script. The script does not identify any short signals.
QUERIES/FEEDBACK
Please PM me.
Regards to all and wish everyone all the best with trading.
The Moon█ OVERVIEW
The Moon is a script that is designed to help Traders analyse their charts using the moon. This script consists of three main features :
1. Moon Phases Pro : This is a more powerful version of the default built-in Moon Phases where it would plot both past cycles and Future cycles with a better accuracy.
2. Moon Lines : This plots the moon's longitude into price. you can also select your desired $/degree ( price vs time unit) to make these lines better suited for your chart and the asset your playing with. We also didn't forget to add an option to enable harmonics of these lines. In addition, you can select "reverse" to get the downtrending plants as well.
3. Moon Angles : This allows you to highlight areas where the moon is at X degree. you can get the Moon at zero aris or 180 degrees or any other degree!.
We also added some styling options to help with the visuals.
█ Future Plans and upgrades to this script may include :
1. Enhanced algorithm for a faster loading/processing script.
2. More future dates plotting.
And more! Feel free to contact me with any feature that you would like to see in this script
█ How to use :
1. Open the settings.
2. Enable your desired tool and adjust the settings.
Give the script a few seconds and you should be set. Don't enable more than 2 tools at the same time, but if you want to do that, you can insert the same script twice or more in your chart.
This script is coded as an addon to the Gann ToolBox package/scripts.
Planetary Aspects & Transits█ OVERVIEW
Planetary Aspects and Transits are commonly used by Astrology Traders and Gann Traders for various reasons. This script is designed to highlight these planetary aspects and transitions on your chart. You can select your favorite planet -including the sun and the moon- and also select the aspect that you would like to view and this script will highlight it on the chart. The aspects that are included to choose from are ( 0, 30, 45, 60, 72, 90, 120, 135, 144, 150, and 180 degrees ). You can also select the mode of these aspects and transits ( Heliocentric vs Geocentric ).
This script offers two running options :
1. Planet vs aspect : using this option you will be able to select a planet and an aspect and we will find/highlight all the transitions vs all the planets in that aspect.
2. Planet vs Planet : using this option you will be able to select two planet and a single aspect to view on the chart.
█ Future Plans and upgrades to this script may include :
1. Enhanced algorithm for a faster loading/processing script.
2. More future dates plotting.
And more! Feel free to contact me with any feature that you would like to see in this script
█ How to use :
1. Open the settings.
2. Choose the planet/planets, and the aspect.
3. Enable the option.
Give the script a few seconds and you should be set.
This script is coded as an addon to the Gann ToolBox package/scripts.
Gann Planetary Lines█ OVERVIEW
Gann Planetary Lines is one of the most powerful Gann Tools that converts planetary longitude angles into price. This script can be used in many different ways, methods, and trading systems.
This Script allows you to Plot Mercury, Venus, Mars, Jupiter, Saturn, Uranus, Neptune, and Pluto. While also allowing you to select the planetary line mode "Heliocentric" or "Geocentric"
One more important feature about this script. It also allows you to plot in the harmonics of these planetary lines : "Wheel of 24" ,"Semi-Sextile", "Semi-Square", "Sextile", "Quintile", "Square", "Trine", and "Opposition "
And of course you will be able to select the color of each one of the planets when it comes to styling.
One more important thing to mention, Yes you will be able to select the $/° value so you can square these lines perfectly in your chart!
█ Future Plans and upgrades to this script may include :
1. Further lines into the futures.
2. An option to Enable and Disable the 0° vertical line when the planet transition from 360° to 0°
3. Labels around the planetary lines to distinguish between them not only by color by text as well.
And more! Feel free to contact me with any feature that you would like to see in this script
█ How to use :
First of all, select the appropriate $/° value.
Then select the planet you would like to use from the list in the script's option.
Select the mode of the planet, "Heliocentric" or "Geocentric"
Make sure to enable the planet by clicking on the check mark.
Then you will be able to see these planets on your chart.
Additionally, I have included an option to add the harmonics to your planetary lines!
Simply select the harmonics that you would like to have and give it 10 seconds and it should be in your chart.
This script is coded as an addon to the Gann ToolBox package/scripts.
