Dynamic GANN Square Of 9 BandsDynamic GANN Square Of 9 Bands
Created on 3 Sept 2023
Adjust Increment Value:
Customize increment to match symbol and price characteristics for accuracy.
Green Line:
200 EMA. Identifies trend direction; moves with the prevailing trend.
Red Lines:
Mark prominent reversal levels closer to the red range; ideal for mean reversion strategies.
Crossing red levels may indicate trend continuation to the next red level.
Grey Lines:
Show immediate target reversal levels; watch for potential reversals.
Key Features:
Levels are different from Standard Deviation Lines.
Levels remain fixed and parallel, unaffected by volatility.
Despite its dynamism, it can serve as a leading indicator, revealing potential trend changes.
Primarily designed for trend-following strategies.
Additional Tips:
Use additional confirmations
Manage predefined risk and quantity
Additional Resources:
GANN Square Of 9 Pivots:
Trendfollowing
Ultimate RSI [LuxAlgo]The Ultimate RSI indicator is a new oscillator based on the calculation of the Relative Strength Index that aims to put more emphasis on the trend, thus having a less noisy output. Opposite to the regular RSI, this oscillator is designed for a trend trading approach instead of a contrarian one.
🔶 USAGE
While returning the same information as a regular RSI, the Ultimate RSI puts more emphasis on trends, and as such can reach overbought/oversold levels faster as well as staying longer within these areas. This can avoid the common issue of an RSI regularly crossing an overbought or oversold level while the trend makes new higher highs/lower lows.
The Ultimate RSI crossing above the overbought level can be indicative of a strong uptrend (highlighted as a green area), while an Ultimate RSI crossing under the oversold level can be indicative of a strong downtrend (highlighted as a red area).
The Ultimate RSI crossing the 50 midline can also indicate trends, with the oscillator being above indicating an uptrend, else a downtrend. Unlike a regular RSI, the Ultimate RSI will cross the midline level less often, thus generating fewer whipsaw signals.
For even more timely indications users can observe the Ultimate RSI relative to its signal line. An Ultimate RSI above its signal line can indicate it is increasing, while the opposite would indicate it is decreasing.
🔹 Smoothing Methods
Users can return more reactive or smoother results depending on the selected smoothing method used for the calculation of the Ultimate RSI. Options include:
Exponential Moving Average (EMA)
Simple Moving Average (SMA)
Wilder's Moving Average (RMA)
Triangular Moving Average (TMA)
These are ranked by the degree of reactivity of each method, with higher ones being more reactive (but less smooth).
Users can also select the smoothing method used by the signal line.
🔶 DETAILS
The RSI returns a normalized exponential average of price changes in the range (0, 100), which can be simply calculated as follows:
ema(d) / ema(|d|) × 50 + 50
where d represent the price changes. In order to put more emphasis on trends we can put higher weight on d . We can perform this on the occurrence of new higher highs/lower lows, and by replacing d with the rolling range instead (the rolling period used to detect the higher highs/lower lows is equal to the length setting).
🔶 SETTINGS
Length: Calculation period of the indicator
Method: Smoothing method used for the calculation of the indicator.
Source: Input source of the indicator
🔹 Signal Line
Smooth: Degree of smoothness of the signal line
Method: Smoothing method used to calculation the signal line.
Sublime Trading | Trend Strength FilterWhat kind of traders/investors are we?
We are trend followers. Our scripts are designed to be used on the higher timeframes (weekly/daily) to catch the large moves/trends in the market.
Most have heard of long-term trend following. Few know how to execute the strategy.
Our scripts are designed specifically to identify and invest in long-term market trends.
What does this script do?
Identifying trends is at the heart of sound investing.
This script is colour coded to help identify long-term trends and environments where you will want to consider taking positions.
It is also designed to identify sideways/consolidating markets, environments where you will want to consider standing aside.
How is the trailing stoploss produced?
The script uses two sets of Bollinger Bands, one with setting Standard Deviation 1 and the other with Standard Deviation 2.
These settings help to create 3 zones - Buy, Sell and Stand Aside.
The bars will change colour according to which zone they are in.
The Buy zone is colour-coded green, and when a bull market or the start of a bull trend is in play. The green switches from light green to dark green as the asset’s price moves above the Buy zone.
This switch in colour serves as a warning that a reversal/pullback may occur next from bullish to bearish.
The Sell zone is colour-coded red and when a bear market or the start of a bear trend is in play. The red switches from light red to dark red as the asset’s price moves below the Sell zone.
This switch in colour serves as a warning that a reversal/pullback may occur next from bearish to bullish.
The Stand Aside is confirmed when the colour-code changes to grey. This may not necessarily mean a trend reversal but simply a time to apply patience before a trend continuation.
A sustained mixture of red, green and grey bars confirms a consolidation or sideways market and when investors/traders will want to stand aside and consider another asset.
What is the best timeframe to use the script?
Long-term trends are identified on the daily and weekly timeframes where traders and investors take fewer positions but hold for longer time periods.
We recommend using the script in unison on the weekly and daily timeframes.
When both timeframes fall into the Buy zone and colour-coded green, it signifies a strong bull market.
When both timeframes fall into the Sell zone and colour-coded red, it signifies a strong bear market.
When there is a mixture of green, red and grey bars across the two timeframes, it signifies a sideways market and when investors stand aside and protect their capital.
The weekly timeframe will also help mask the noise on the daily timeframe, allowing you to hold positions longer.
The Trailing Strength Filter script is for investors who want to identify and invest in long-term trends whilst simultaneously eliminating intraday swings.
What makes this script unique?
Identifying the start of long-term trends and then riding out established trends are among the main struggles budding investors face. This script has been coded specifically for the daily and weekly timeframe to:
Seamlessly identify the start, middle and end of trends
Align with the market and remove social media noise calling market tops and bottoms
Allow for discretion when entering but particularly exiting of positions if a market trend has not ended
This trend filter script ensures alignment with long-term market trends.
Volume-Weighted Trend Filter CloudThe Volume-Weighted Trend Filter Cloud is a powerful technical analysis tool designed to identify trend directions and potential buy/sell signals in a trading instrument. The indicator combines volume-weighted moving averages, average true range (ATR), and cloud plotting techniques to provide a comprehensive view of the market trend.
Inputs:
Length: Specifies the length of Algo used for trend analysis. Default value is 14.
Multiplier: Adjusts the width of the trend filter bands based on the ATR. Default value is 2.0.
Tenkan-sen Period: Defines the period for calculating the Tenkan-sen line. Default value is 200.
Kijun-sen Period: Sets the period for calculating the Kijun-sen line. Default value is 400.
Senkou Span Period: Determines the period for calculating the Senkou Span A and Senkou Span B lines. Default value is 600.
Calculation:
Average True Range (ATR): The indicator calculates the ATR based on the specified moving average length.
Trend Filter Bands: The basic upper and lower bands are calculated using the highest high and lowest low values, respectively, along with the multiplier and ATR. These bands are then adjusted to create the final upper and lower bands, taking into account the previous values.
Trend Direction: The indicator determines the trend direction by comparing the close price with the lower and upper bands. If the close price is above the lower band, it indicates an upward trend (trendUp = 1). If the close price is below the upper band, it indicates a downward trend (trendDown = 1).
Volume-Weighted Z-Score: The indicator calculates the volume-weighted Z-Score by determining the mean and standard deviation of the close price with volume weighting. The Z-Score represents the deviation of the close price from the mean in terms of standard deviations.
Tenkan-sen, Kijun-sen, Senkou Span A, and Senkou Span B: These lines are calculated using the respective periods and the average of the high and low prices.
Sigmoid Transformation: The indicator applies the sigmoid function to the Z-Score values to obtain sigmoid-transformed values for open, high, low, and close prices. These transformed values help in visualizing the trend strength.
Plotting:
Trend Filter: The trend filter is plotted as a line that changes color based on the trend direction. The lower band is displayed for an upward trend, while the upper band is displayed for a downward trend.
Trend Cloud: The cloud plot represents the Senkou Span A and Senkou Span B lines. The cloud color changes based on the trend direction, providing a visual representation of the market trend.
Buy and Sell Signals: The indicator generates buy and sell signals based on the crossover of fast and slow moving averages, Z-Score values, trend direction, and other conditions. These signals are labeled on the chart, indicating potential entry points for traders.
The indicator generates buy and sell signals based on specific conditions, including the intersection of fast and slow moving averages, Z-Score values, trend direction, and more.
Buy signals are described as a "buy signal" on the chart, which indicates potential entry points for buy trades.
Sell signals are described as a "sell signal", which indicates potential entry points for sell trades. The signals in light color represent that they are signals in the opposite direction of the cloud that can be considered as exit points
Regularized-Moving-Average Oscillator SuiteThe Regularized-MA Oscillator Suite is a versatile indicator that transforms any moving average into an oscillator. It comprises up to 13 different moving average types, including KAMA, T3, and ALMA. This indicator serves as a valuable tool for both trend following and mean reversion strategies, providing traders and investors with enhanced insights into market dynamics.
Methodology:
The Regularized MA Oscillator Suite calculates the moving average (MA) based on user-defined parameters such as length, moving average type, and custom smoothing factors. It then derives the mean and standard deviation of the MA using a normalized period. Finally, it computes the Z-Score by subtracting the mean from the MA and dividing it by the standard deviation.
KAMA (Kaufman's Adaptive Moving Average):
KAMA is a unique moving average type that dynamically adjusts its smoothing period based on market volatility. It adapts to changing market conditions, providing a smoother response during periods of low volatility and a quicker response during periods of high volatility. This allows traders to capture trends effectively while reducing noise.
T3 (Tillson's Exponential Moving Average):
T3 is an exponential moving average that incorporates additional smoothing techniques to reduce lag and provide a more responsive indicator. It aims to maintain a balance between responsiveness and smoothness, allowing traders to identify trend reversals with greater accuracy.
ALMA (Arnaud Legoux Moving Average):
ALMA is a moving average type that utilizes a combination of linear regression and exponential moving average techniques. It offers a unique way of calculating the moving average by providing a smoother and more accurate representation of price trends. ALMA reduces lag and noise, enabling traders to identify trend changes and potential entry or exit points more effectively.
Z-Score:
The Z-Score calculation in the Regularized-MA Oscillator Suite standardizes the values of the moving average. It measures the deviation of each data point from the mean in terms of standard deviations. By normalizing the moving average through the Z-Score, the indicator enables traders to assess the relative position of price in relation to its mean and volatility. This information can be valuable for identifying overbought and oversold conditions, as well as potential trend reversals.
Utility:
The Regularized-MA Oscillator Suite with its unique moving average types and Z-Score calculation offers traders and investors powerful analytical tools. It can be used for trend following strategies by analyzing the oscillator's position relative to the midline. Traders can also employ it as a mean reversion tool by identifying peak values above user-defined deviations. These features assist in identifying potential entry and exit points, enhancing trading decisions and market analysis.
Key Features:
Variety of 13 MA types.
Potential reversal point bubbles.
Bar coloring methods - Trend (Midline cross), Extremities, Reversions, Slope
Example Charts:
SPX-40 % PMO Above Zero [bluesky]█ OVERVIEW
The "SPX-40 % PMO Above Zero" script analyzes market breadth based on the percentage of stocks within the SPX-40 subset with a Positive Momentum Oscillator (PMO) value greater than or equal to zero. It provides insights into the strength and breadth of positive momentum signals, aiding traders in making informed decisions.
█ CONCEPTS
This script evaluates the percentage of stocks within the SPX-40 subset that have a PMO value above zero. By calculating this percentage, the script identifies periods of broad positive momentum and potential trading opportunities.
█ CALCULATION
The script calculates the percentage of stocks with a PMO value above zero within the SPX-40 subset. It uses the PMO values of individual stocks to assess market breadth and determine the strength of positive momentum signals.
█ HOW TO USE IT
- Timeframe: Optimize the script for different timeframes to analyze market breadth effectively.
- Market Breadth Analysis: The script displays the percentage of SPX-40 stocks with a PMO value above zero, indicating the strength of positive momentum signals across the subset.
- Trend Identification: Monitor changes in the percentage of stocks above zero to identify shifts in market breadth and trends.
- Risk Management: Consider the breadth of positive momentum signals when setting stop-loss levels or evaluating overall market conditions.
█ ADDITIONAL OPTIONS
- This script offers additional options to enhance analysis and customization, including the usage of two exponential moving averages (fast and slow) for additional insights into momentum trends.
- Background colors for EMA crossovers can be visualized using customizable options, aiding in trend identification.
- The Heikin Ashi candles option can be enabled for a different perspective on price movements.
█ FLEXIBILITY AND ADAPTABILITY
It's important to note that the default selection of 40 stocks within the SPX-40 subset may need adjustment over time as market dynamics change. Traders have the flexibility to modify the list of stocks to reflect the current market conditions and ensure the script's relevance and accuracy. Please review and update the list periodically to maintain the effectiveness of the analysis.
█ DISCLAIMER
Trading involves risks, and past performance is not indicative of future results. The "SPX-40 % PMO Above Zero" script is a tool designed to assist traders in analyzing market breadth and positive momentum signals. It should be used in conjunction with sound risk management practices and a comprehensive trading strategy. Traders are encouraged to perform their due diligence, exercise caution, and adapt the script to their individual trading preferences and requirements.
Please note that this script does not make any claims of guaranteed profitability or provide investment advice. Always consult with a qualified financial professional before making any investment decisions.
SPX-Sectors % PMO Above Zero [bluesky]█ OVERVIEW
The "Subsector-11 % PMO Above Zero" script analyzes market breadth based on the percentage of 11 user-adjustable subsector ETFs of the S&P 500 with a Positive Momentum Oscillator (PMO) value greater than or equal to zero. It provides insights into the strength and breadth of positive momentum signals within specific subsectors, aiding traders in making informed decisions.
█ CONCEPTS
This script utilizes the PMO values of the 11 user-adjustable subsector ETFs of the S&P 500 to assess market breadth. By calculating the percentage of subsector ETFs with a PMO value above zero, it identifies periods of broad positive momentum and potential trading opportunities within those specific sectors.
█ PMO (Positive Momentum Oscillator)
Developed by Carl Swenlin, the PMO is an oscillator based on a Rate of Change (ROC) calculation that is smoothed twice with exponential moving averages using a custom smoothing process. The PMO is normalized, allowing it to be used as a relative strength tool. Traders can rank subsector ETFs based on their PMO values as an expression of relative strength.
█ CALCULATION
The script calculates the percentage of subsector ETFs with a PMO value above zero based on the provided PMO values of the 11 user-adjustable subsector ETFs. It uses custom smoothing functions similar to Exponential Moving Averages (EMAs) to derive the PMO values.
█ HOW TO USE IT
- Timeframe: Optimize the script for different timeframes to analyze market breadth effectively within specific subsectors.
- Subsector Analysis: The script displays the percentage of subsector ETFs within the 11 user-adjustable subsectors of the S&P 500 with a PMO value above zero, indicating the strength of positive momentum signals within those subsectors.
- Trend Identification: Monitor changes in the percentage of subsector ETFs above zero to identify shifts in market breadth and trends.
- Risk Management: Consider the breadth of positive momentum signals within specific subsectors when setting stop-loss levels or evaluating overall market conditions.
█ ADDITIONAL OPTIONS
This script offers additional options to enhance analysis and customization:
- Candle Style: Choose from different candle styles such as Heikin Ashi, Three Line Break, Candles, or Line for chart visualization.
- PMO Settings: Adjust the lengths of the PMO calculation and signal length according to your trading preferences.
- Moving Average Settings: Incorporate the usage of fast and slow exponential moving averages (EMAs) for additional insights into momentum trends.
█ FLEXIBILITY AND ADAPTABILITY
The script allows traders to adjust the subsector ETF names according to their specific requirements. Please review and update the list of subsector ETFs periodically to reflect the desired sectors for analysis and ensure the script's relevance and accuracy.
█ DISCLAIMER
Trading involves risks, and past performance is not indicative of future results. The "Subsector-11 % PMO Above Zero" script is a tool designed to assist traders in analyzing market breadth and positive momentum signals within specific subsectors. It should be used in conjunction with sound risk management practices and a comprehensive trading strategy. Traders are encouraged to perform their due diligence, exercise caution, and adapt the script to their individual trading preferences and requirements.
Please note that this script does not make any claims of guaranteed profitability or provide investment advice. Always consult with a qualified financial professional before making any investment decisions.
AlphaTrend - ScreenerScreener version of AlphaTrend indicator:
BUY / LONG when AlphaTrend line crosses above its 2 bars offsetted line, and there would be a green filling between them
SELL / SHORT when AlphaTrend line crosses below its 2 bars offsetted line, and filling would be red then.
Default values:
Coefficient: 1, which is the factor of the trailing ATR value
Common Period: 14, which is the length of ATR MFI and RSI
AlphaTrend default uses MFI in the calculation, and MFI (Money Flow Index) needs the volume data of the chart.
If your chart doesn't have the volume data, please select the "Change Calculation" option to use RSI instead of MFI.
Screener Panel:
You can explore 20 different and user-defined tickers, which can be changed from the SETTINGS (shares, crypto, commodities...) on this screener version.
The screener panel shows up right after the bars on the right side of the chart.
Tickers seen in green are the ones that are in an uptrend, according to AlphaTrend.
The ones that appear in red are those in the SELL signal, in a downtrend.
The numbers in front of each Ticker indicate how many bars passed after the last BUY or SELL signal of AlphaTrend.
For example, according to the indicator, when BTCUSDT appears in (3) and in GREEN, Bitcoin switched to BUY signal 3 bars ago.
Market Order Bubbles + Trapped Positions [Pt]"Market Order Bubbles + Trapped Positions" is a multifaceted TradingView indicator, employing volume data to depict intensified market activities. By highlighting aggressive buying/selling behaviors, this tool serves as a dependable aid in pinpointing potential trading reversals. Additionally, it proves an effective device for real-time market trend monitoring. The unique ability of this indicator to spotlight 'Trapped Positions'—resulting from such vigorous trading activity—helps identify crucial price levels or ranges that may lead to significant price responses.
Market Order Bubbles
The Market Order Bubbles feature capitalizes on volume data to estimate market orders. High bullish volume is indicative of a surge in buy orders, while strong bearish volume flags an increase in sell orders. These orders are visually represented by bubbles of different sizes, corresponding directly to the volume strength, thus providing traders with an immediate, intuitive understanding of market activity.
Trapped Positions/Zones
The concept of Trapped Positions emerges when sizable buy orders appear during a bearish market trend, or vice versa. For instance, if a considerable sell order is detected during a bullish uptrend, it signifies that those short positions may be 'trapped'. These positions help in plotting potential price range zones. When the price revisits these zones and the market trend maintains its bullish inclination, trapped shorts might opt for liquidation near break-even to mitigate losses. The reverse holds true in a bearish downtrend.
Trend Follower
The Trend Follower feature is a supportive tool that aims to discern price trends, color-coding candle bars for clarity. This function assists traders by presenting a simplified view of the prevailing trend, helping to minimize distractions caused by minor price shifts.
The utility of the Trend Follower is its ability to aid traders in focusing on the larger market direction. It allows traders to concentrate on the more substantial trend and make decisions that align with this broader market movement, rather than reacting to every minor price fluctuation. As a result, this feature may support traders in maintaining their positions for a longer duration, which could potentially enhance their trading outcomes. The Trend Follower, therefore, offers a helpful contribution to a balanced and effective trading approach.
In essence, the "Market Order Bubbles + Trapped Positions" indicator with its Trend Follower feature provides traders with a comprehensive understanding of market dynamics, allowing them to navigate the financial markets with increased precision and confidence. Its unique features, designed to highlight significant market activities and trends, can greatly aid in refining trading strategies, making it a potentially invaluable tool in a trader's arsenal.
[Trendycator] Trendycator Trend Following IndicatorThis script proposes a simple and intuitive trend following indicator, better usage on those assets which are sufficiently liquid and don't go through random spikes.
Since it is a trend-following system, it works well during trends only and his intent is to find a primary trend and ride it for as long as possible.
We know that the biggest problem is how to understand if asset is in trend or not: for this purpose, the intuitive colors explained hereafter help Traders to understand when asset is in non trend.
It will never enter on the minimum and will never exit on the maximum but will always try to identify the central part of the trend, maintaining the position until the forces supporting the rise of the stock fail.
Usage details
Color interpretation
Green color mean that asset is in a UP Trend.
Red color mean that asset is in a Down Trend.
Gray color mean that indicator is not able to find any clear trend.
Trendycator use stochastic oscillator, which establish the trend and his strength.
As additional filter as noise removal the stochastic oscillator is smoothened using simple moving average.
Trendycator use as well price swing recognition which identify significant high and significant low breakouts.
When stochastic find trend with strength and significant breakout change color: green for up trend and red for down trend.
This mix of trend-following indicator and breakout system is made to avoid, as much as possible, false signal generated from side movement.
Settings
Trendycator usually doesn’t need to set anything.
This because we believe that the user have to searching for the charts where it works well and never "overfitting" the system on a chart.
Overfitting never work as a long time and in the first step for loosing money.
In Tradingview we decide to let the possibilities to set two parameters: "Period_UP" and "Period_DN".
The reason is because this can be adjusted slightly for testing in intraday, but we recommend to manipulate as less as possible.
Period UP/DN meaning: Period_UP are the number of bars considered for swing high detection and Period_DN is the number of bar that Trendycator use for swing low detection.
Important usage note
Trendycator was born and tested in weekly timeframe and works in daily as well. Intraday charts, normally have high volatility that is the opposite of trend; weekly, or daily bars reduce the noise.
Trendycator is tested, and used, in Etf and stocks.
Trendycator is tested, and used, for long operation only.
Trendycator is not tested in different timeframe from what explained above, or chart type different from bars (eg. Renko or Heikin Ashi).
Trendycator is not tested in instrument different from what listed above: like future or Forex.
Trendycator is not tested for short operation. Normally short have very strong movement in less time that is different from trend following concept.
Entry/Exit recommended filters
Investor and traders are free to use and interpretate Trendycator as they feel more confortable but, we recommend to apply some filters on entry and exit.
As you can see in example, we use a trigger for enter in position (not plotted by this indicator).
The high of first green bar is the trigger level for entry: the long position will be in Buy Stop above this level.
The low of first red bar is the trigger level for exit: the long position will be exit in Stop after this level.
Use this trigger criteria is useful to avoid, once more, the false signal.
Conclusion
Trendycator do not provide any guarantees regarding your ability to obtain results or earn money with our ideas, information, tools or strategies.
Nothing on our content makes any promise or guarantee of future results or earnings.
You alone are responsible for your decisions, actions and results in life, and using our code you agree that you will not attempt to hold us responsible for your decisions, actions or results, at any time, under any circumstances.
Fetch ATR + MA StrategyA trend following indicator that allows traders/investors to enter trades for the long term, as it is mainly tested on the daily chart. The indicator fires off buy and sell signals. The sell signals can be turned off as trader can decide to use this indicator for long term buy signals. The buy signals are indicated by the green diamonds, and the red diamonds show the points on then chart where the asset can be sold.
The indicator uses a couple indicators in order to generate the buy signals:
- ADX
- ATR
- Moving Average of ATR
- 50 SMA
- 200 SMA
The buy signal is generated at the cross overs of the 50 and 200 SMA's while the ATR is lower than then Moving Average of the ATR. The buy signal is fired when these conditions are met and if the ADX is lower than 30.
The thought process is as follows:
When the ATR is lower than its moving average, the price should be in a low volatilty environment. An ADX between 25 and 50 signals a Strong trend. Every value below 25 is an absent or weak trend. So entering a trade when the volatilty is still low but increasing, you'll be entering a trade at the start of a new uptrend. This mechanism also filters out lots of false signals of the simple cross overs.
The sell signals are fired every time the 50 SMA drops below the 200 SMA.
TrendDECODER by MetaSignalsProTrendDECODER
The fastest indicator to detect trends and price ranges
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✔️ Identify ranges and the next probable direction
✔️ Get the earliest signals and the strength of Trends
✔️ Get clear exits signals before reversal
✔️ Spot the Fibo levels the price will test
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📌 What is it about ?
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TrendDECODER is a concentrate of multiple innovations to make Trend following simple and easy.
Please see in the 🛠️ Calculation & Precisions section at the end of this page to know more how they work.
👉 With the GreyBox - identify when the market gets out of the Trend with a new sequence of transition. Check if the market is in Range, Continuation or Reversal (Up or Down) and wait for the closing of the box to get the Trend signal.
👉 With the DecoderSignals & Blue/Orange Clouds - once the GreyBox has delivered its message, get the new direction of the Trend and see the probable zones of pull backs during the current direction.
👉 With the Projective TrendLine - see before it happens the direction and the possible angle of the Trend with its probable range.
👉 With the RealTime TrendLine vs the Projective TrendLine - adjust immediately if the market accelerates North or South.
👉 With the RealTime TrendLine Crossing - detect at the earliest the moment the Trend gets out of track, to get out of the train.
👉 With the FiboLevels - spot immediately which price levels the market will test.
📌 For which asset?
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TrendDECODER is universal : it works fine on all assets and all time-frames;
☝️ always work on a multi-timeframe environment to minimize risk;
📌Why we made these innovations?
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Because the trend indicators that we know, lag a lot and do not clearly identify ranges!
We need much more powerful tools than Supertrend or a couple of moving averages crossings to get this done.
📌 How to trade with TrendDECODER?
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🔹 Strategy #1: Trend Following : DecoderSignals & Blue/Orange Clouds
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The GreyBOX has given the next probable movement and the Signal of a Trend in on.
The RealTime TrendLine guides us on the pace of this movement and the Blue/ Orange/Cloud figures the support/resistance of this movement.
It will be wise not to jump immediately in the Trend as the signal appears as the price will very probably make a pullback in direction of the cloud first.
🔹 Strategy #1: Checklist
📍 Set a Multi Time Frame environment
📍 Main Time Frame and the Upper Time Frame are moving in the same direction (Up or Down)
📍 Main Time Frame: appearance of the « TrendUp Signal » or the « TrendDown Signal »
📍 Entry:
☝️ buying « at Market » immediately on a « Trend Signal » is quite risky as many times the price will pull back near the Clouds
👉 a good option is to buy 1/2 the position at market on signal
👉 and 1/2 after the first pull back
📍 First Stop Loss: place your SL under the lower border of the GreyBox for an expected TrendUp or the higher border for an expected TrendDown
📍 BreakEven: when the price reaches your Risk/Reward ratio of 1 = Distance StopLoss vs Entry = Distance Current Price vs Entry
📍 Trailing Stop: just under the lowest border of the Blue Cloud (TrendUp) or the highest border of the Orange Cloud (TrendDown)
📍 TakeProfits: in a TrendUP, place your take profits just under the FibosLevels in order not to get exited (and above in a TrendDOWN)
📍 Exits:
👉 Early option : Crossing of the RealTime TrendLine
👉 Late option : Crossing of the Blue/Orange cloud
🔹 Strategy #2: Early Trend following : RealTime TrendLine Crossing
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With this simple tool, get a very early signal of a probable inversion of the current Trend, way before the Decoder Signal is shown, once confirmed by the GreyBOX.
🔹 Strategy #2: Checklist
📍 Set a Multi Time Frame environment
📍 Main Time Frame and the Upper Time Frame are moving in the same direction (Up or Down)
📍 Entry (Main Time Frame): wait for the Close crossing over the ReaTime TrendLine in an expected TrendUp (under for a TrendDown )
📍 First Stop Loss (Main Time Frame):
👉 place your SL under the lower low of the GreyBOX (for an expected TrendUp) or the higher high (for an expected TrendDown)
📍 BreakEven: move your SL to Entry price when the price reaches your Risk/Reward ratio of 1 = Distance StopLoss vs Entry = Distance Current Price vs Entry
📍 Trailing Stop: just under the lowest border of the Blue Cloud (TrendUp) or the highest border of the Orange Cloud (TrendDown)
📍 TakeProfits: in a TrendUP, place your take profits just under the FibosLevels in order not to get exited (and above in a TrendDOWN)
📍 Exits:
👉 Early option : Crossing of the RealTime TrendLine
👉 Late option : Crossing of the Blue/Orange cloud
🎛️ Configuration
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Well, basically you do not have to do anything !
But you can make TrendDECODER perfectly yours with a few switches in the configuration panel to make appear or disappear each one of the elements composing TrendDECODER.
🛠️ Calculation & Precisions
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🔹 Blue/Orange Clouds
The Blue/Orange Clouds are a proprietary synthesis of Price Action and Volume Exchange in real time.
🔹 Projective TrendLine
As soon as a new high or a new low has been reached during the last move, TrendDECODER traces a possible angle of the future movement based on the pace of the last one in the same direction.
The distance between the Projective TrendLine and the Last Lowest (resp. Highest) gives you a possible bottom (resp. top) of the price range.
🔹 RealTime TrendLine
As soon as the Decoder GreyBox has delivered its information i.e Range/Continuation/ReversalUp/ReversalDown and that a New High (resp. New Low) has been reached, the RealTime TrendLine starts to show the pace and the angle of the new movement based on a linear regression adanced concept.
The angles of the Projective and the RealTime TrendLine can be identical, telling you that the market moves smoothly in a global consensus. It can be a smart Trailing Stop Loss.
Or these angles can be very different and it will call your maximum attention. You might want to switch to a superior timeframe to get the bigger picture.
🔹 FiboLevels
Once a new Trend is signaled, the levels of Fibonnaci are automatically placed.
They are calculated on the last Highest and Lowest of the former movement.
Momentum Covariance Oscillator by TenozenWell, guess what? A new indicator is here! Again it's a coincidence, as I experiment with my formula. So far it's less noisy than Autoregressive Covariance Oscillator, so possibly this one is better. The formula is much simpler, care me to explain.
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Yt = close - previous average
Val = Yt/close
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Welp that's the formula lol. Funny thing is that it's so simple, but it's good! What matters is the use of it haha.
So how to use this Oscillator? If the value is above 0, we expect a bullish response, if the value is below 0 we expect a bearish response. That simple. Ciao.
(Any questions and suggestions? feel free to comment!)
Know the trend - KTT---------- ENGLISH -----------
This indicator combines the values of four common indicators (MACD, MACD signal, normalized RSI and linear regression) to provide a unified view of the market trend. The indicator calculates the average of the rescaled values of these four indicators and plots it on the chart as a line that changes color based on its position relative to 0. If the line is above 0, it is colored black to indicate a bullish trend. If the line is below 0, it is colored red to indicate a bearish trend. The user can enter a value for the length of the indicator to customize the time period used for calculating the underlying indicators. The indicator works on any time frame.
---------- ITALIANO -----------
Questo indicatore combina i valori di quattro indicatori comuni (MACD, segnale MACD, RSI normalizzato e regressione lineare) per fornire una visione unificata del trend del mercato. L’indicatore calcola la media dei valori riscalati di questi quattro indicatori e la disegna sul grafico come una linea che cambia colore in base alla sua posizione rispetto allo 0. Se la linea è sopra lo 0, viene colorata di nero per indicare un trend rialzista. Se la linea è sotto lo 0, viene colorata di rosso per indicare un trend ribassista. L’utente può inserire un valore per la lunghezza dell’indicatore per personalizzare il periodo di tempo utilizzato per il calcolo degli indicatori sottostanti. L’indicatore funziona su ogni time frame.
Trend Following with Dynamic Price ZonesThis script provides a complete framework for following trends , especially on those assets which are sufficiently liquid and don't go through random spikes.
Since it is a trend-following system, it works well during trends only. However, I cannot claim any numbers since the execution requires some discretion at the user's end. This framework can also be combined with other technical tools such as trend lines to increase its efficacy.
Features:
Dynamic Price Zones:
• The Dynamic Price Zones (DPZ) are determined using a proprietary logic that incorporates price movement and certain other factors.
• These zones change more rapidly than conventional support and resistance (S/R) zones, which is why I have named them "Dynamic".
• DPZs can serve as support and resistance zones and help with trend identification to some extent.
• The upper boundary of a zone is called Dynamic Price Zone High (DPZ-H) , while the lower boundary is called Dynamic Price Zone Low (DPZ-L) .
Colour Bars:
• Candle colours are based on another proprietary logic, independent of dynamic price zones .
• These are not traditional moving average-based coloured bars, which is evident from the presence of uncoloured bars in between.
• The uncoloured bars indicate periods of uncertain trends .
• Colour functionality helps in smoothening the trend and assists in riding it for as long as possible.
Stats Table:
• RSI
• VWAP
• % Change from the previous day's closing
• Dynamic Price Zone High (DPZ-H) value
• Dynamic Price Zone Low (DPZ-L) value
Settings:
• DPZs are displayed as horizontal lines with background fill by default, but users can toggle lines and background fill on or off.
• Bar colours can be customized according to user preferences.
• The table can be enabled or disabled based on user input.
• The position of the table can be changed based on 4 available options: Top Left, Top Right, Bottom Left, and Bottom Right.
• Users can toggle individual table fields on or off . For example: If the user wants to hide "Vwap" and "%Change" values, he can turn them off. In that case, only 3 fields will be displayed on the table without occupying additional space.
• Background and text colours for each field of the table can be customized based on user preferences.
How to Use the Dynamic Price Zones:
• When the price is above a DPZ, it indicates a bullish trend , suggesting the possibility of higher prices. These zones are termed Bullish DPZs.
• Conversely, if the price is below a DPZ, it signals a bearish trend , with an expectation of lower prices. These zones are termed Bearish DPZs.
• In a trending market, when the price returns to a previous DPZ, it can present a trading opportunity in the direction of the prior trend (e.g., if the market is falling and the price returns to a previous DPZ, it is likely to reject it).
• Consecutive ascending DPZs indicate a shift in buyers from lower to higher levels and can provide buying opportunities. This also indicates a period of a strong bullish trend.
• Similarly, consecutive descending DPZs indicate a shift in sellers from higher to lower levels and can provide selling opportunities. This also indicates a period of a strong bearish trend.
• Please note that we must be flexible when determining the consecutive zones. For example: There may be a few smaller bearish DPZs in between the bullish DPZs but if the area is dominated by the bullish DPZs then we can consider the zones as consecutive. Similar is true for bearish consecutive zones.
• Closely stacked or adjacent zones suggest that prices will likely remain within a range, moving sideways.
• Wider zones act as big hurdles and, the price may struggle to cross them. They may also lead to a sideways movement.
• Zones that remain clean and untested for several sessions are likely to act as strong support or resistance when the price revisits them.
Bullish Examples:
Bearish Examples:
Some Examples of the Complete System
Trend follower system combined with Trendlines
Special Thanks
I would like to extend my special thanks to all the experts whose lectures and blogs I have studied to gain a limited yet significant knowledge of the Pine language.
Best regards,
Rajat Kumar Singh (@johntradingwick)
Community Manager (India), TradingView.
Autoregressive Covariance Oscillator by TenozenWell to be honest I don't know what to name this indicator lol. But anyway, here is my another original work! Gonna give some background of why I create this indicator, it's all pretty much a coincidence when I'm learning about time series analysis.
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Well, the formula of Auto-covariance is:
E{(X(t)-(t) * (X(t-s)-(t-s))}= Y_s
But I don't multiply both values but rather subtract them:
E{(X(t)-(t) - (X(t-s)-(t-s))}= Y_s?
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For arm_vald, the equation is as follows:
arm_vald = val_mu + mu_plus_lsm + et
val_mu --> mean of time series
mu_plus_lsm --> val_mu + LSM
et --> error term
As you can see, val_mu^2. I did this so the oscillator is much smoother.
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After I get the value, I normalize them:
aco = Y_s? / arm_vald
So by this calculation, I get something like an oscillator!
(more details in the code)
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So how to use this indicator? It's so easy! If the value is above 0, we gonna expect a bullish response, if the value is below 0, we gonna expect a bearish response; that simple. Be aware that you should wait for the price to be closed before executing a trade.
Well, try it out! So far this is the most powerful indicator that I've created, hope it's useful. Ciao.
(more updates for the indicator if needed)
TIGERMOOD TREND
🔶 About Tigermood Trend for TradingView.
Tigermood Trend is a trend detector that uses several logics including but not limited to volatility , momentum, key fibonacci levels and trend changing logic to generate a reliable trend on most time frames and applicable for Stocks, futures , Forex, and Cryptos.
Unlike other trend indicators, Tigermood Trend is as simple as it looks but uses several behind-the-scene price action algorithms that work in tandem to create a trend to keep the trader as long as market is trending and hence streamlines their trades accordingly.
🔶 Logic behind Tigermood Trend
Detecting the Fibonacci lows and highs (Hooks) after a trend change or a major trend pivot is formed.
Once a fibonacci hook is detected, key fibonacci levels are calculated and ready to be applied to the trend on event triggers.
To control the optimal fibonacci level to be applied a moving average is added to the logic with length from 20-200 depending on the selected timeframe.
Fibonacci hooks are controlled and validated using a modified supertrend indicator with ATR length and factor set automatically according to the selected timeframe, and that to avoid non-significant hooks (trend pivots).
To update to a certain fibonacci level, certain conditions must be met to validate this level, these conditions check for RSI extreme conditions, supertrend conditions, trend stage (early stage or extended).
Trend changing is controlled as well. In order for trend to change once price crosses the stop-bands, Tigermood trend takes into consideration: volatility, strong or weak trend status, early/mature stage of the trend, and finally the last fibonacci levels used. A bias towards a hard trend change is favored instead of soft trend change, which is a simple close crossing and that to avoid as many false trend changes as possible
During extreme high momentum trending, the updating bias will shift to the moving average with ATR and supertrend limitation.
█ Tigermood Trend is designed to be as plug-and-play indicator with little or no parameters to set or keep tweaking thus enabling the trader to concentrate on his/her strategy entries and exits. (limited settings to control sensitivity and some behavior may be introduced in the future)
█ Tigermood Trend is a no-Repainting indicator. the trend updates only on the close of the current bar using barstate.isconfirmed .
█ However, it is important to emphasize that Tigermood Trend is NOT a signal generator. You don't see Buy and Sell signals on the chart. (as of this date). Even though upon trend changing you may think it is a buy/sell indication but it is NOT. This indicator is made for traders who need a trend to confirm the direction of their trades, and avoid confusion during high market volatility; and experienced traders know very well that trading with a reliable trend constitute an essential and an integral part of their trading strategy. This way the trader is spending more time on fine-tuning their trade opportunities.
█ Tigermood Trend is a Tool to be added to the traders' toolbox and is not a trading system by its own. (While in the future the indicator will highlight area of high opportunity for entries and stop losses)
█ Tigermood Trend is under continuous development. New features, logic updates and new logics will be regularly added in new versions.
Best of luck in your trading journey,
Tigermood
The Weinstein MethodWhat is "The Weinstein Method" indicator?
Presentation of the indicator
The Weinstein Method indicator was developed by us to help traders use the Stan Weinstein Method more effectively. This method usually requires a lot of time and analysis to determine the different phases of an asset, but the indicator takes care of that in no time. By simply choosing the market and the timeframe, traders can get the different trends of the asset, the famous four phases of Stan Weinstein.
The basic principles of the indicator
The Weinstein Method indicator is based on the principles of the Stan Weinstein Method. According to this method, assets go through four phases: the accumulation phase, the rise phase, the distribution phase and the fall phase. Traders use these phases to determine when to buy, sell or stay out of the market.
How the indicator works
The indicator will take into account several elements to trigger the phases: the RSI, the volumes, the EMA, the Relative Strength of the asset (the choice of the market in the menu of the indicator is determining for this calculation) and the Supports/Resistances.
Depending on the Timeframe (several configurations: 1 hour, 4 hours, daily, weekly and monthly) and the market (Dow Jones - Stock, S&P 500 - Stock, Nasdaq - Stock, DAX - Stock, CAC 40 - Stock and Cryptos) selected, the variables mentioned above change to adapt to the asset and the timeframe.
Each phase has criteria that must be met in order to be triggered (those described by Stan Weinstein in his book "Secrets for Profiting in Bull and Bear Markets"):
- Phase 1: We have determined as criteria: low volume, RSI in the low zone, minimal price variation over the last X candles and the EMA without direction.
- Phase 2: We calculate the relative strength of the asset compared to its benchmark, above-average volumes, the break of a major resistance, the direction of the EMA and the level of the RSI.
- Phase 3: We look to see if the asset breaks its uptrend (break of a trend following EMA), if it fails to make a new high, if the RSI is in the high zone and if the volumes are strong.
- Phase 4: For this phase to be triggered, the asset must break a major support, be below the EMA (once again these variables are adapted according to the timeframe and the market selected in the menu) and the EMA must be bearish.
How to use
The signals of the indicator
On the chart, the indicator allows you to visualize the different phases of an asset's movement. Each point on the chart corresponds to a particular phase, which is labeled below the point with the name of the phase. The different phases that can be identified with the help of the indicator are the following:
- S1: Accumulation
- S2: Rising
- S3: Distribution
- S4: Decline
By observing the successive points, it’s possible to identify the market trend and to consider trading positions accordingly.
The different strategies for using the indicator
The market phase indicator can be used for both short term and long-term trading strategies. However, it should be noted that this method is generally used for the medium and long term.
In terms of trading strategies, investors can use the indicator to identify periods of trend reversal and take positions against the current trend. For example, if the indicator shows a distribution phase, this may indicate a downward trend reversal and a trader could take a sell position when the downward phase begins.
On the other hand, traders can also use the indicator to confirm the current trend and take positions in the direction of the trend. If the indicator shows an upward phase, this may indicate a continuing upward trend and a trader could take a buy position.
Disclaimer
Please note that The Weinstein Method indicator is a tool designed to assist traders in their decision-making process. While it is based on sound principles and can be helpful in identifying market trends, it is important to remember that there is no magic indicator that can guarantee success in trading.
It is the responsibility of the user to carefully consider all available information, including the signals generated by The Weinstein Method indicator, and to make their own informed decisions about when to buy, sell or stay out of the market. It is important to remember that trading carries risks, and no strategy or tool can eliminate those risks entirely.
We want to emphasize that we do not provide investment advice, and any decisions made using The Weinstein Method indicator are the sole responsibility of the user. We cannot be held liable for any losses that may occur as a result of trading using this indicator.
Trend Oscillatorwhat is "Trend Oscillator"?
it is an indicator for determining the trend.
what it does?
analyzes the price action by reducing it to 4 different situations. Red means strong bear, orange means bearish, yellow means weak bull and green means strong bull. It was developed to help traders who trade in the direction of the trend and its biggest promise is to simplify price action.
how it does it?
He defines 4 different situations as follows. If the velocity of the price is positive and the acceleration is positive, it is a strong bull, if the velocity is positive and the acceleration is negative, it is a weak bull, if the velocity is negative and the acceleration is positive, it is a weak bear, if both velocity and acceleration are negative, it is a strong bear.
2 for strong bull
1 for the weak bull
-1 for weak bear
Creates a function that takes values of -2 for the strong bear. this function is the velocity of the principal indicator, and then the integral of this function forms the principal indicator.
how to use it?
"source" is used to change the source of the indicator,
"length" makes the indicator give a later but less signal.
you can use it to follow or analyze the trend. colors make it easy to use. learns about current or past trends by looking at colors. Like any trend indicator, it can give unsuccessful signals in a horizontal trend.
VWAP filtered MACD Bars with positive MACD histogram value and closing above VWAP are colored, long positions should be taken in areas made of those bars.
Similarly, bars with negative MACD histogram value and closing below VWAP are also colored, short positions should be taken there.
This indicator by default should be a part of your trend following trading system.
In the setting you can change colors
Above grow: positive and rising MACD histogram value
Above fall: positive and falling MACD histogram value
Below fall: negative and falling MACD histogram value
Below grow: negative and rising MACD histogram value
Fibonacci Step IndicatorThe Fibonacci Step Indicator assumes irregularity in calculating a moving average. It is measured as the mean of the previous lows and highs situated at Fibonacci past periods. For example, the mean of the lows from 2, 3, 5, 8, etc. periods ago form the Fibonacci step indicator.
The indicator uses the formula for the first twelve Fibonacci numbers on highs and lows so that it creates a moving support/resistance zone. Afterwards, the zone is stabilized by taking the highest highs of the upper indicator and the lowest lows of the lower indicator part.
The indicator is used as a trend following way. It can be compared to the Ichimoku Kinko Hyo cloud (without the future projection). The zone form a support and resistance area. During ranging periods, the market will fluctuate within the area which is a bad time to follow the trend (if any).
Market Structure Double BOS Confirm
🔥 Overview
🎯 This Double BOS(Break Of Structure) Confirm indicator combined ma-based BOS and classic BOS
to achieve a more credible BOS signal . it works well in most symbols with 2 parameters finetune.
🎯 It's a enhanced version compare with previous script.
🎯 at the same time, I keep D-BOS and BOS separately, you can use them in combination freely.
🔥 Indicator design logic
🎯 there are 3 parts in this indicator.
Part 1: MA-Based BOS
1. use close-in EMA's highest/lowest value mark as SWING High/Low when EMA crossover/under,
not use func ta.pivothigh()/ta.pivotlow()
2. once price reaching EMA’s SWING High/Low, draw a line link High/Low to current bar, labled as BOS
3. more MA-Based BOS details can get from my previous script.
Part 2: Classic BOS
1. use pivothigh/low function to find pivot (decided by left/right swing length)
2. when get new pivothigh, compare with previous high, calculate HH/LH/HL/LL result
3. once bar closed and break pivothigh then labed as BOS
Part 3: Double BOS Confirms
1. when MA-Based BOS and Classic BOS occured at the same bar closed signed as D-BOS
2. when two BOS events one bar apart, signed as D-BOS
🔥 Settings
🎯 there are 13 input properties in script, 4 properties(Bold field) have an impact on the results and the other 9 show display effects.
GRP1
MA_Type : MA type you can choose(EMA/RMA/SMA/HMA/WMA/VWMA), default is HMA
short_ma_len : MA length of your current timeframe on chart, default 30
show_ma_bos_line: whether show ma-based BOS line, default false
GRP2
left_swing_len : pivothigh(source, left,right), it‘s left swing length
right_swing_len : right swing length
show_pivot_bos_line: whether show pivot-based BOS line, default false
GRP3
show_double_bos_line: show double_bos_line, default true
double_bos_linewidth: linewidth, default 2 (Bold line)
double_bos_linestyle: default Dashed
🔥 Usage
🎯 BOS signal usually worked fine in high volatility market, low volatility is meaningless.
🎯 D-BOS will filtered much more signals than ma-based BOS and classic BOS
We can see that it performs well in trending market of different symbols, and BOS is an opportunity to add positions,
D-BOS will filtered much more signals
Double-BOS Confirm : BINANCE:BTCUSDTPERP 30m
MA-Based BOS : BINANCE:BTCUSDTPERP 30m
🎯 Support classic HH/HL label, MA-Based Zigzag
🎯 You can use only D-BOS, MA-BOS or Classic-BOS alone, or D-BOS and one of the other, it's up to you,
but my personal preference is to use D-BOS and MA-BOS in combination
🎯 any questions or suggestion please comment below, I would appreciate it greatly.
Additionally, I plan to publish 20 profitable strategies in 2023; indicatior not one of them,
let‘s witness it together!
Hope this indicator will be useful for you :)
enjoy! 🚀🚀🚀
Trend Analysis [Ultimate] (Expo)█ Overview
We have developed a Trend Analysis Indicator with many great functionalities that help traders to:
Identify when a confirmed trend starts and ends.
Identify pullbacks within trends.
Identify the current trend direction and potential trend shifts.
The indicator differentiates between different trend characteristics to measure the current trend stage. Everything is identified in real-time and without repainting.
█ How is the trend characteristic calculated?
This Trend Analysis Indicator uses different calculations method, such as Fibonacci ratios, price retracements, cycles, and volatility measures, to calculate the trend characteristic. These values are used in an EWMA* function (similar to RMA). This function is used to smooth out the noise in data sets and to better identify cyclic patterns in the data. This function works by giving greater weight to more recent data points and less weight to older data points. This allows it to better identify and track trends in the data. The indicator is a valuable and useful tool for market analysis and can be used to evaluate the strength, direction, and characteristics of trends in a market.
█ Trend Trading
Identifying the trend in trading is important because it helps traders to understand the direction in which the market is moving. Knowing the trend allows traders to develop more accurate trading strategies. Entering into a confirmed trend reduces your risk and increases the profit potential. However, knowing when to exit a trending market can be even harder. That is why we have developed this indicator that will notify you when the trend move is about to end.
The key to success in trend trading lies in being able to recognize the beginning and end of a trend, as well as being able to spot pullbacks within an established trend. This trend indicator is a valuable tool to get insights into the current trend characteristic, which helps traders to spot new trends and pullbacks.
█ How to use
Trend
This indicator should be used with trend analysis! Combine the indicators' insights with trend lines , channels, market structure, etc., to better understand the current trend structure.
This indicator is about confirming a trend and understanding when a trend might start and end.
Use this indicator to confirm and gain insights about trend structure.
Trend Change
The indicator comes with a background and bar coloring that detects the current trend and displays when the trend has a higher likelihood of changing.
Pullback
Pullback traders will find this indicator very useful to confirm and find pullbacks within trends.
█ Indicator Features
This Trend Analysis indicator has many valuable features for trend trading :
Start & End of the Trend Feature:
First, the default settings display a green and red histogram, which we call; (Start/End of Trend). This feature identifies when a confirmed trend is about to start/end and finds pullbacks within the trend.
Confirmed Trend:
Enable the confirmed trend if you want to display a green and red histogram when the trend is confirmed. When this histogram peaks, traders know that a momentum move in the trend direction is completed. This is a sign that the trend is strong. However, after such a move, a retracement is likely to happen. Use these peaks to take partial profits and to prepare to enter into the trend on the pullback that is likely to come.
Bar Coloring:
Bar coloring shows the direction of the trend and identifies areas where the trend has a higher probability of changing direction. When the bar coloring becomes white, traders know that the current price action within the trend has a characteristic of that there is a higher likelihood of a trend change. Use this insight to prepare for a potential trend change.
Background Coloring:
The background coloring is displayed when a strong trend is detected.
*EWMA stands for Exponentially Weighted Moving Average. It is a type of time series forecasting method that assigns greater weight to recent observations in a time series data set. It is a way of smoothing out the data to remove the noise and make it easier to identify patterns and trends.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
