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Snaps

Your essential 20 second market digests.
HOOD
The SEC will let me be

A decision from the SEC on payment-for-order-flow (PFOF) sends HOOD whipsawing around the chart as traders and investors consider their mixed feelings on the matter.

USDJPY
Investors feast on a wild spread

The Japanese government is making historic moves to prop up its native currency after watching its value steadily decline for months.

WMT
Spooky season or selling season?

What do you get when you mix surplus inventory with record-high inflation? A very difficult holiday season for retailers.

SPX
Can’t stop, won’t stop

Fed Chair Jerome Powell says his vows in front of the whole world, pledging to fight inflation for better or worse, for richer or poorer, till rate hikes do them part.

ADAUSD
A big forking deal

It’s ‘major upgrade’ szn for blockchains and Cardano digs into the trend with its Vasil hardfork while investors are still digesting the Merge.

USDTUSD
Talking time’s over

Tether’s been asked to put its money where its mouth is as concerns grow around how its stablecoin is backed.

SLNG
Putin pressures the NG market

Energy production and storage firm Stabilis Solutions gets authorization to export its natural gas as Putin’s mobilization news puts pressure on supplies.

META
It’s cutting season

Meta is determined to get back to its former lean, mean, fighting machine glory and now has plans in place to trim away all the fat.

TOTAL
A Kraken the wall

What’s worse than facing a federal investigation? Seeing the CEO step down right in the middle of said federal investigation.

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Trade ideas

BTC's Downtrend Cannot Reverse While Sellers Remain in ControlPrimary Chart: Linear Regression Channel, Fibonacci-Derived Price Target, and Two Long-Term Anchored VWAPs Many crypto enthusiasts have called for a bottom at the various lows in the BTC's downtrend over the past year. At each of the major lows, eager dip buyers swooped in and tried to pick a market bottom. The major swing lows in this bear market in BTC have occurred in December 2021, January 2022, February 2022, May 2022, and June 2022. Each low likely was considered as the bottom (a final low) by investors who pounced in to buy or averaged down on already losing positions. Some savvy traders may have identified extreme oversold conditions in crypto markets at each of these lows and traded a 5-20 day rally to make a tidy profit, and such short-term traders are beneficiaries of the sharp bear rallies that have occurred. More patient short sellers have also benefitted from the bounces if they waited until overbought conditions materialized to position bearishly. The linear regression channel shown on the Primary Chart shows how each interim bear-market low has been followed by a rally back to the top of the regression channel. Once there, investors who had hoped the trend had reversed of the most recent lows were once again disappointed. How many more lows will disappoint the long-term bulls? No one knows. But the odds are stacked heavily against dip buyers for anything more than short-term rallies from extremely oversold lows at downtrend support. Both long-term VWAPs shown on the Primary Chart reveal that the average buyer is now underwater. This means sellers remain in control. As long as sellers remain in control, and as long as downtrends remain intact, it's a low-probability bet to hope for major trend reversal—traders, however, who can remain disciplined and follow technical evidence without letting their biases interfere too much, may make handsome profits as price reaches new lows only to sharply rally back to downtrend resistance. The longer-term VWAPs should be evaluated closely on the Primary Chart. They are both in dark blue. Note that this downtrend has caused price to break below both longer-term anchored VWAPs—one of which is anchored to the pandemic lows in March 2020, and the other of which is anchored to August 2017 lows. Price has paused at each of the long-term Fibonacci retracements measured from the pandemic lows on March 13, 2022, to all-time highs at $69,000. Over the summer, when BTC has rallied it has shown support at the long-term .786 retracement level at $17,792.10. But at the other major retracements, price paused for some time and tested and retested before a break of the level occurred. Price has already tested this $17,792.10 level before bouncing back above it. The next time this area is tested, it should prove weaker. Supplementary Chart A: Long-Term Fibo Retracement Levels It is possible that price is forming a giant corrective A-B-C zigzag (or WXY pattern involving multiple zigzags) from the all-time high. Elliott Wave can be tricky, and multiple wave counts can remain valid simultaneously. Additionally, Elliott Wave counts can continually evolve as price action disproves some wave counts while opening up the validity of other alternatives at the same time. At this time, however, the entire downtrend can plausibly be viewed as a 3-wave move at the largest degree of trend, thus an ABC or WXY corrective pattern. Supplementary Chart B: ABC or WXY Elliott-Wave Corrective Pattern from All-Time Highs with Price Target where Two Declining Waves Have Equality or Near Equality If this is true, price could likely find a low near the 1.00 to 1.272 projections of wave A. More specifically, this means that larger-degree wave C equals the larger-wave A x 1.00 (the same numerical distance between waves A and C), or it means that the larger-degree wave C = larger-degree wave A x 1.272 ($2,292.48), another common relationship in zigzags that is considered nearly equal as well but with a Fibonacci proportion adding a twist—this is a long way down from current levels, but remains a possible EW interpretation. In the meantime, it makes sense for experienced traders to continue to view the short side (at stronger resistance levels) as the higher probability trade. ________________________________________ Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. Please note further that this technical-analysis viewpoint is short-term in nature. This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for the near term. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. And countertrend or mean-reversion trading, e.g., trading a rally in a bear market, is lower probability and is tricky and challenging even for the most experienced traders. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction.
Editors' picks
47
Bears! This is Sparta! SPY 300Hear ye hear ye! Thy SPY chart needeth to drop down to 300. Okay, enough of that. SPY is likely headed down from here and here’s why: For starters, the weekly MACD has had a signal cross failure which is something I’ve been on the look out for since May per the linked idea below. This MACD red alert following on the heels of a head and shoulders with a neckline retest is a recipe for disaster. Okay I’m sounding like Peter Schiff now. Another consideration is the blue channel pair which price has dropped out of. This channel pair is fairly respected going back to 2014 and a break out from it as substantial as the one we’ve experienced this week is sort of a big deal. There is an orange channel which was more relevant in the past but doesn’t seem to be respected as much post-2020. It may serve as support around 357 but I don’t think it will hold based on the above mentioned bearish manifestations. We shall see. There is a green trendline going back to 2011 which looks like the most logical support. I had drawn in some other trendline candidates but they all fell below this level, were not as good, and cluttered the chart, so they were removed. Price falling from here reaches the trendline around $300 which is the price target. There is an AI-generated image of a bear wearing a spartan helmet in the lower-right hand corner. The technology will improve with time, I’m sure. I’m short futures from the current level ($367.95) over the weekend with a stop 1.5% north of here per the MACD idea mentioned above and linked below:
Editors' picks
27
Is Volatility Incorrectly Priced?SPY is down over 20% and the VIX is at ~27!! Extremely low in relation to current market conditions. Based on the Fed’s recent economic projection , unemployment is set to rise 0.6% in 2023!!! In turn a drop of PCE inflation from 5.4% to 2.8% is projected. Implicating a US recession and a possible global recession. Pivoting Powell is donning the Volker mask and risk assets are not safe… The VIX has been making higher lows since June 2021 but is extremely low for the level of uncertainty in the market and it is currently incorrectly priced. As a recession inches closer, market sentiment will degrade and the VIX may explore its upside potential. In markets, volatility is measured in expected terms because participants speculate on future market conditions. Measures of volatility use option pricing as inputs. As volatility increases, option prices increase. Options prices are based on time duration (how long until the option expires) and price variation (how far the strike is from the current price). By aggregating this data, volatility models are able to encompass the markets expectation of price variation (volatility) in the underlying asset. VIX: The most common measures of Volatility is the VIX. This index is a forward looking indicator of volatility that indicates the level of uncertainty in the SPX marketplace. In more technical terms: VIX measures 30 day expected Volatility of the SPX futures market. The VIX uses SPX Option prices because SPX Options reflect the market’s expectations of future volatility. (SPX Options Puts/Calls are more expensive when volatility is higher). SPX options reflect the amount investors are willing to pay for options (put or call) indicating the expected movement in SPX. The VIX Index (also known as the sigma index) is represented as an annualized 1-standard deviation measure of return on SP500. With SPX at $400 and the VIX at 27. There is a 68% chance (1std), SPX will be -/+ 27% one year later. Calculations can also be made for the market’s expectation: for 1 month: 27/sqrt(12months)= +/- 7.8% expected move, one month later: , 1 week: 27/sqrt(52weeks)= +/- 3.7% expected move, one week later: and 1 day: 27/sqrt(256tradingdays)= +/- 1.7% expected move, one day later. As the VIX rises the future value of SPX becomes more uncertain. For context, in March 2020 the VIX reached a +/- 80% expected move in the SPX. When VIX options are incorrectly priced in relation to market conditions both bulls and bears can profit by utilizing options. Bulls can buy options on their bullish stocks instead of purchasing shares out-right because even if the underlying asset price doesn’t increase much; their option appreciates with volatility. Bears will find their put options appreciate with the increase in Volatility while, the underlying asset price falls as well. VVIX: Just as the VIX is calculated by using SPX options as inputs. The VVIX is calculated by using VIX options. VVIX is a measure of the change of volatility in the VIX volatility index and in particular focuses on the magnitude of SPX Volatility. When VIX is high, that means option prices of the SPX is high, which means investors want to sell premium on the VIX. (If options are expensive, there is incentive to sell options). The VVIX can be used to better understand the VIX. When VIX and VVIX are low, strategies that benefit off increased volatility (ex. Debit call spread) will benefit. VVIX is rate variable and reverts to the mean of around 70-90. VVIX just came down from 160 in January 2022 and now is at 90. Even though this is an average level, volatility should be more elevated in the midst of a tightening cycle. SKEW: SKEW measures the Slope of Implied Volatility which is probability that the one-month S&P 500 log-return falls two or three standard deviations below the mean. When SKEW is equal to 100, the distribution of S&P 500 log-returns is normal, and the probability of returns two standard devations below or above the mean is 4.6% (2.3% on each side); the probability decreases to .3% (.15% on each side) for three standard deviations. For every five point move in the SKEW index adds or subtracts around 1.3 or 1.4 percentage points to the risk of a two-standard deviation move. Unlike the VIX, the SKEW index looks at implied volatility of SPX Out of The Money (OTM) puts. Skew tells us that calls are expensive and puts are cheap. Skew is a measure of the relationship of OTM puts to OTM calls. SKEW is known as being the indicator of a BlackSwan Event. As demand of OTM puts rise, SKEW rises. SKEW looks prime for an upward move and the VIX will likely join.
Editors' picks
12
WTI OIL at a critical make or break pointThe WTI Crude Oil (USOIL) has been trading within a structured Channel Down pattern since the March 08 market High, following the immense growth after the COVID 2020 demand crisis. We have covered the Higher Lows zones since the November 02 2020 Low (green circle) and the March 23 2021 Low (blue circle) extensively over the past months on the higher time-frames, which is where Oil is trading at the moment. Basically the price is at the bottom of both the Channel Down and the Higher Lows zone since Nov 02 2020 2021. The bearish sentiment got stronger when the price got rejected exactly on the 1D MA50 (blue trend-line) on August 30 and turned even worse on September 02 when the 1D MA50 crossed below the 1D MA200 (orange trend-line) to form the bearish pattern of the Death Cross. This is the first time we see this formation since February 25 2020!! This was a huge bearish sign at the past as it preceded the COVID crash. As long as the Nov 2020 Higher Lows Zone (dotted lines) hold, the Death Cross effect may be postponed for the short-term but only if the 1D MA50 breaks. A first sign towards that bullish break-out may be the Bullish Divergence on the 8H MACD, which is on Higher Lows while Oil has been on Lower Lows since June 22. Also the 8H MACD resembles the July 09 - August 19 2021 fractal, which rebounded on the March 23 2021 zone. Technically the Channel Down should make a new Lower High within 105.00 - 110.00. A break below the Channel Down though, should finally test the March 23 2021 Higher Lows zone (dashed lines) and at this point under the current fundamentals seems like the most likely scenario. Even if we do get that rebound on the short-term, it would be much safer to be positioned systematically with sells on the rallies, as the Death Cross indicates that the long-term trend is gradually turning bearish . -------------------------------------------------------------------------------------------------------- ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. ** --------------------------------------------------------------------------------------------------------
Editors' picks
18
Ethereum - Pump and dump, or just dump?Like in the case of Bitcoin, we are also bearish on Ethereum. We will pay close attention to it today as the FED is set to increase interest rates and worsen economic conditions. We expect such action to drag the stock market and cryptocurrencies lower over time. Though we do not rule out an initial bounce up in the price of ETHUSD after the FED decision; however, we do not expect it to last. Due to that, we have no reason to change our bearish bias. Accordingly, we stick to our price targets of 1000 USD and 900 USD. Illustration 1.01 Illustration 1.01 shows the weekly chart of ETHUSD. It also portrays two simple moving averages, 20-week SMA and 50-week SMA. It can be observed how Ethereum naturally retraced toward its 20-week SMA (which acted as a correction of the downtrend), and now it deviates from it again. Technical analysis - daily time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the daily time frame is bearish. Illustration 1.02 Illustration 1.02 displays the daily chart of ETHUSD, two simple moving averages, and support/resistance levels. Technical analysis - weekly time frame RSI, MACD, Stochastic, DM+, and DM- are all bearish. Overall, the weekly time frame is bearish. Please feel free to express your ideas and thoughts in the comment section. DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
Editors' picks
55
"The" Daily Market Update (Centralized)As I am permitted, this core idea will have a daily video update every day besides Saturday. These updates will ALL be videos in my usual format and each will be 'IDEAS' themselves: As opposed to a screenshot with words. This is key, because any Intra-Day update that I make in regards to that idea (same day update) will have the update within that idea. So clicking on that daily update may have more updates past the initial one. The purpose of this is to further consolidate and reduce clutter that may build up over time and by doing so I hope that you can get an understanding of my thought process by quickly being able to refer to previous days, as well as having any comments/questions answered in one centralized location. I believe I started (specifically) doing the regular daily updates from September 7th, so it only goes back that far as of now. I have done some here and there, but want to keep this idea as clean as possible for everyone. Related Ideas linked below are some of my more important ideas that I often refer to. I stream every weekday: 15 minutes before the market opens and at least 15 minutes after the market closes. I also stream Sundays 30 minutes before the Week candle Change on BTC. Some other key information regarding TradingView Subscriptions: 1) I do not believe it is needed (for me) to be able to analyze and trade anymore, BUT it is key for going over old data to train and is HIGHLY worth considering when you want to take your trading to the next level. I may not continue with the Premium next year, but I will NEVER not have a TradingView Subscription; Just as I will never eat unhealthy food again. There are certain things you do not go back to. Being subscription-less is one of them. 2) If you feel comfortable analyzing and want to try new things, I HIGHLY recommend taking a look at the subscriptions levels and features, because on which you choose you can get access to many amazing features such as: a) Volume Profiles (Horizontal Volume) b) 20,000 bars worth of data c) Intra-Day Replay (Very useful for accurate back-testing and training) d) Multiple charts at once (Easier for me to compare movement to find correlations) e) The ability to make video ideas. In the spirit of being fair, I must mention one small drawback in regards to one feature of the premium plan. This is only in regards to anyone that streams regularly on TradingView and 9.9 times out of 10 will not apply to the average user. I explain an incredibly easy work around at the bottom, so make sure to check that out. The "Premium Plan" allows your streams to be "saved indefinitely". This is the response I got and why I believe the streams are saved, but not available after you stream 50 more times (overwritten or hidden). Though until they are made available, if ever, they might as well not exist. "I have double-checked this case with our tech team and they assigned a task to add the possibility to view the records of the past streams in the Profile. Your ticket is tagged to the corresponding task so you will be notified in case of an update." So it appears from the language used that the streams are saved, but are unavailable after 50 streams. I stream every day, so this is important to me. Maybe it will be important to you as well. Work Around: You can save your own recording to your pc when you stream and/or also multi-stream through Trading View to YouTube and Twitch. YouTube will turn your streams into Videos so that solves the issue of that; More or less. TradingView is my platform of choice, so I'd prefer all of the streams to be accessible on this platform and, through that, encourage more people to access this platform for data.
Editors' picks
6
XAUUSD (GOLD) Multi Time Frame analysisWell, as you can see, the price managed to increase up to about $1680 yesterday, exactly from the range of $1660 that was mentioned, that is, nearly 200 pips of growth! Again, from the same range of $1680, the price faced selling pressure and fell again to $1660! The price again reacted positively to this level and is currently trading with 50 pips of growth in the range of 1665! Now we have to see if this level of support and demand zone can cause the price to grow again or not! one of the important supply zones is in the range of $1676 to $1680! Follow me for more analysis & Feel free to ask any questions you have, I'm here to help. ⚠️ This Analysis will be updated ... 👤 Arman Shaban : @ArmanShabanTrading 📅 09.20.2022 ⚠️(DYOR) ❤️ If you apperciate my work , Please like and comment , It Keeps me motivated to do better ❤️
Editors' picks
Long
62
Inflation or Deflation - what cometh next?Short answer. Deflation. Lots of it. This idea is an extension of the Gold study recently published, which you can find below. Gold price action is a fantastic leading indicator for forecasting inflationary / deflationary periods. On the 3-month chart above Gold price action is shown. The lower half, the current rate of inflation as recorded by the Bureau of Labour statistics. Look left. (Read the Gold idea?) When Gold MACD on the 3-month crosses down (red circles) a significant deflationary period follows. In fact I’m unable to find a single instance when this was not the situation looking all the way back to the 1970s. More significant than everything said so far is the ‘rate of change’. Inflation / deflation by itself over an elongated period of time is a non-issue. A rate of change over a shorter period is another matter, especially when inflation is high. The harder you rise the harder you fall. The early 80’s being the best example. Will talk about this more on the Patreon page. What does all this mean? Significant corrections against inflated assets. Equities, housing, limping from one recession to the next just as was in the 80s. For those of you that don’t remember: “The United States entered recession in January 1980 and returned to growth six months later in July 1980. Although recovery took hold, the unemployment rate remained unchanged through the start of a second recession in July 1981. The downturn ended 16 months later, in November 1982.” It is my opinion that if a rate of deflation like that of the early 80’s was seen then we’re almost certainly going to see that period repeat itself over the next 2-3 years. Ww Gold study
Editors' picks
87
BTC: What to Watch Going into US FOMC Presser This WeekThe US Federal Reserve Open Committee (FOMC) meets Tuesday and Wednesday this week. The hawkish monetary policy that has been fostered by the FOMC has put pressure on risk assets for much of this year. The Federal Reserve, along with other central banks around the globe, have been attempting to tackle sticky inflation that has been running at high levels not seen in decades. Though some argue that inflation may have peaked, it remains sticky and well above central banks' targets, which in the US is 2%. The Primary Chart above shows key levels to watch going into the FOMC presser. The downtrend line in blue, which is the zero line of the Fibonacci Channel, rejected price decisively on September 13, 2022. But with an important trendline such as this one, a retest of the line is not uncommon, similar to what occurred where BTC tested this line from March 28 to April 5, 2022 repeatedly before finally resuming the downtrend. This occurred at the end of BTC's powerful bear rally in March 2022 that coincided with equity indices' rally during that time. The area of resistance that could be tested should price rally or whipsaw higher this week is between $19,900 and $21,416. The Primary Chart uses a yellow-colored ellipsis shape to capture the strong, dynamic resistance levels of this down trendline. The Fibonacci Channel also shows the parallel diagonal lines that run at Fibonacci proportions to this downtrend line, which also should be watched for price support in the coming weeks. The Primary Chart also shows the key Fibonacci retracements of the entire summer rally. BTC has been holding just above its .786 retracement of the mid-June to mid-August 2022 rally. This level lies at $19,246, and price has made a couple attempts to break below it, each of which has failed, suggesting more sideways chop into the FOMC's meeting. The .618 retracement of the summer rally is at $20,521, a level that should also be watched closely. BTC struggled to get above this level in June and July with two failed breakouts. Finally, after getting above this line, BTC began declining and fell back below it after its mid-August 2022 peak. BTC attempted one more rally above it in early September 2022, but this ended up as a failed breakout, another bearish signal along with the downtrend line. In addition to the levels shown on the Primary Chart above, the Supplementary Chart below shows shorter-term Fibonacci levels that also may become relevant this week. Considering that this decline from September 13 to September 19, 2022, may be a completed wave 1 of some larger Elliott Wave structure, it becomes important to consider the retracements as places where the current corrective wave could reverse. These levels are $19,993, $20,526 (coinciding with the other .618 retracement level shown on the Primary Chart at $20,521), $21,058, and $21,815. Supplementary Chart A: Fibonacci Retracements of September 13-19 decline Given the impact interest rates—and tightening financial conditions—have had on risk assets, it may be prudent to also watch interest rates closely. For this purpose, see the 10-year yield chart below. Supplementary Chart B: Current Uptrend in US 10-Year Yield (TNX) and Multi-Year High Reached The 10-year yield has shown no signs of slowing down yet. It continues to push higher, holding its short-term upward trendline from around the start of August 2022 until the present. The longer-term uptrend line has remained in effect for 2.5 years since March 2020. Note also that the 8-day EMA has held as support along with the shorter-term steep upward trendline. Until this line breaks, it is unlikely that crypto assets and equities can make substantial progress toward reversing their current bearish trend structures. For the curious, another chart showing the correlation coefficient between BTCUSD and TNX is shown in the final chart below. This shows that for most of 2022, the relationship between BTC and interest rates has been inverse. Many probably already have known this intuitively while reading news about increasing rates to combat inflation while simultaneously witnessing bear markets across most risk assets this year. This correlation coefficient has at times reached -.64 and -.68, showing fairly high levels of inverse correlation, which means that as yields push higher, BTC has fallen lower. This level has also dropped to lower levels of inverse correlation. Currently, the coefficient is at -.49. Supplementary Chart C: Correlation Coefficient for BTCUSD and TNX (Weekly Chart) ________________________________________ Please note that this technical-analysis viewpoint is short-term in nature . This is not a trade recommendation but a technical-analysis overview and commentary with levels to watch for this week. Also note that countertrend trading, e.g., trading a rally in a bear market, is tricky and challenging even for the most experienced traders. Countertrend trades are lower probability trades as well. This technical-analysis viewpoint could change at a moment's notice should price move beyond a level of invalidation. Further, proper risk-management techniques are vital to trading success. Author's Comment: Thank you for reviewing this post and considering its charts and analysis. The author welcomes comments, discussion and debate (respectfully presented) in the comment section. Shared charts are especially helpful to support any opposing or alternative view. This article is intended to present an unbiased, technical view of the security or tradable risk asset discussed. DISCLAIMER: This post contains commentary published solely for educational and informational purposes. This post's content (and any content available through links in this post) and its views do not constitute financial advice or an investment or trading recommendation, and they do not account for readers' personal financial circumstances, or their investing or trading objectives, time frame, and risk tolerance. Readers should perform their own due diligence, and consult a qualified financial adviser or other investment / financial professional before entering any trade, investment or other transaction. BITSTAMP:BTCUSD CME:BTC1! BINANCE:BTCUSDT
Editors' picks
28

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Educational ideas

My best wining trading strategyBefore giving you false hope, this strategy, like any other, will not have a 100% wining ratio. But, with a RR of about 1:2, and a wining rate of 40%, it will make money long term. A tested wining percentage is around 60% depending on market conditions. Time frame : 4h Indicators used: - Renko chart - Cumulative Delta - RSI - OBV - Moving average 9 Candlestick patterns: If is the case, there is an advantage. Entries signals: Only with Pending orders on retracement, after signal 1 triggered. 1. Reversal brick on Renko 2. Divergence/Convergence on Cumulative Delta. If you do not know about this, you can check on my website at the course section. 3. Divergence on RSI indicator 4. OBV must follow the Renko brick. AS in the given example, if green Brick, than OBV must increase in volume. 5. Moving average is used like standard, or normal settings. Entry on cross, or touch. Exits TP : Renko brick reversal or standard RR according with SL. SL : According with structure, or Renko brick size. IF Renko brick is forming every 1000 points, than it is recommended for SL to have the same size. Don't Stumble Trading. Trade Safe!
Editors' picks
Education
54
🟩TRADING HACKS: You're doing ENOUGH 🟩 This video is about the importance of thinking in RR and %. The main point is when you think you haven't earned enough is $ amount - and so you want to trade more and more, which leads to poor trade quality - remind yourself that trading is highly scalable, and so it's ok to imagine you have a 20x more capital at the moment. So x20 your profit in the trade and ask yourself how I feel now, is this enough for the day? Remember, if you're consistent, you'll be able to scale the account relatively easy.
Editors' picks
Education
35
How to build a top-tier trading planHey everyone! 👋 Today, we will be looking at how to build an unstoppable trading plan in a few short steps. While many successful traders often use different ‘variables’ when it comes to identifying trades, the core decision making process of all good trading plans remains mostly the same. Therefore, we’re going to go over a few key things that you shouldn’t be missing out on in your very own trading plan. Let’s get started 👇 Asset Selection 🏦🏦 All good trading plans need to define how they will select what assets they will be trading. For Futures and FX traders, this is a relatively straightforward process, as the universe of tradable symbols is small. However, for Equities and Crypto traders, the universe of tradable symbols is massive. How will you figure out which symbols present the most opportunity and the best risk/reward? Having a defined set of criteria for finding opportunities you’d like to trade is absolutely essential for maximizing your strategy’s expected value. For example, a stock day trader might search for stocks gapping overnight more than 4%, on more than X amount of volume/shares traded. Or, a crypto swing trader might search for liquid cryptocurrencies with oversold or overbought conditions that could present a mean reversion opportunity. No matter what the asset though, for traders, generally there are two key things to ensure you’re looking for: Volatility ✅ Liquidity ✅ If an asset doesn’t have enough liquidity, then it will be hard to scale in and out of bigger positions over time. If an asset doesn’t have enough volatility, then it will be hard to generate absolute returns from the small trading range. This isn’t always the case, as a few options strategies look to profit off of low volatility, but for spot traders, it is absolutely essential. Execution Logic 🧠🧠 Once you know what asset you’re looking to trade, the next step is to define what actually counts as a trading opportunity. Almost all assets move every day - what “setups” can you define for yourself that offer the best risk/reward? The best trading plans have logic that reads like a decision tree, so the trader doesn’t have to think too hard in the moment about the process - all of the hard decisions have been made prior to the in-the-moment situation. These decision trees can become infinitely complex, but as long as you create and are comfortable with your own execution logic, then you can follow it and improve it over time. There are two important elements to account for when creating decision logic: Direction ✅ Execution ✅ While some traders are comfortable taking trades in either direction, many traders are only comfortable with taking trades in one direction, because it can be easier to simplify what you’re looking for in a trade. Because of this, most funds and traders will look to come up with a “view” first. For example: “I will only look for long trades when the asset is above its 20d moving average.” OR “If the ISM PMI is greater than 50, then I will only look to buy stocks.” Then, once you know what direction you’re trading in (it can be both!), actually figuring out PRECISELY what gets you into and out of a trade becomes necessary. For example: “If I am looking for a long entry in a trending asset, I will only buy at a 30d high, while setting my stop at a 30d low.” Having both direction and execution helps to clarify exactly what counts as a trading opportunity, and what is simply a pattern that only exists in your head. It's also key to controlling your risk and getting you out of bad situations should they arise. Cash Management 💵💵 Finding assets to trade and trading them according to a high-quality plan matters little if you lose everything in a single trade you were sized too large in. Because of this, the best trading plans account for risk and drawdown by planning for the worst-case scenario. Common strategies to control risk center around sizing trades (to risk no more than 1-5% of your capital at any one time, for example) using theme limits, sector limits, and more. Risk is a decision you make on the way in, not on the way out. When placing a trade, know ~exactly what you are risking, and how that fits into your overarching position management strategy. See this article for more details. So, there you have it! 3 quick steps to building an unassailable trading plan ready for the punches the markets will throw your way. Well, what are you waiting for? Get to work 😉 -Team TradingView ❤️
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WHAT IS DRAWDOWN | 3 Types Of Drawdown Explained 📚 Hey traders, In my videos, I frequently use the term "drawdown". Many of you asked me to explain the meaning of that term and share some examples. The account drawdown is the highest observed loss from the highest value of the deposit to the lowest value of the deposit at a certain period of time. Imagine you started to trade with 10,000$ account. At the end of the year, your account size reached 15,000$. However, at some point through the year the deposit value dropped to 6,000$. It was the absolute minimum for the one-year period. At some point, your net loss was -4,000$ or 40% of your account balance. The account drawdown is 40%. ❗️Knowing the account drawdown is very important for the risk assessment of the trading strategy. Usually, 50% and bigger drawdown signifies an extremely high risk. There are 3 types of drawdown to know. Current drawdown - a temporary drawdown associated with the negative total value of opened trading position(s) at present. Once you start trading with 10,000$ deposit, you open several trading positions. Being opened, with the constant price movements, your potential gains fluctuates from positive to negative. For examples, with 3 active trades: EURUSD (-500$ at present); GBPUSD (+200$ at present); GOLD (-100$ at present) your current account drawdown is -400$ or 4% of your deposit. Fixed drawdown - the negative value of the closed trading position(s) at present for a certain period of time. While some of your trades remain active, some are already closed. Imagine the same deposit - 10,000$. On Monday you opened 6 trades, 2 still remain active and 4 are already closed. Your total loss from your closed trades is -500$. Your fixed Monday's drawdown is 5%. Maximum Drawdown - the maximum observed loss from the highest value of the deposit before a new maximum is reached. Starting to trade with 10,000$ you are already trading for 5 years. Your account were growing rapidly and at some moment it reached 25,000$. Then the recession started. You faced a dramatic loss of 12,500$ before you started to recover. That was the maximum observed loss for the period. Your maximum account drawdown was 50%. ❗️Different types of drawdown give a lot of insights about a trading strategy. Its proper assessment will help to spot a high risk strategy and to find a conservative one. Constantly monitor your account drawdown and always check the numbers. What is your highest account drawdown? ❤️If you have any questions, please, ask me in the comment section. Please, support my work with like, thank you!❤️
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How to calculate which lot size to useAs mentioned several times before, we risk 1% of our total trading capital per transaction. In simple terms, we risk 1 egg out of the 100 that we have in the basket in an attempt to get more eggs. However, even though the average price mark where we place our Stop Loss is 30-60 pips away from the entry price, SL levels set differ from one trade to another, and different currency pairs have various differences in pricing (major pairs have small differences for the most part, while minor and cross-pairs have big gaps in pricing). This article will demonstrate 3 random scenarios and illustrate which lot sizing is needed to be used based on the Stop Loss set and the percentage of the total capital risked while taking into account the size of the trading account. All numbers are imaginary in order to diversify the visualisation of the portrayed examples and give a better understanding of the case. Enjoy the idea and don't forget to drop your questions in the comment box below!
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PRICE CHANNELS: A simple but very important trading tool1. WHAT IS A PRICE CHANNEL? On any chart, you can see that the price is moving in a trading range bounded from above and below, and this range is a price channel. They can be ascending, descending or sideways (ranges). Ascending channels are formed with an uptrend, Descending channels are formed with a downtrend, Lateral channels are formed at intervals when the price moves in a horizontal range. 2. WHICH CHANNELS ARE MORE RELIABLE AND EFFICIENT? If the price has touched the channel boundaries more than two or three times, it is considered confirmed. If he touched it up to two or three times, the channel is unconfirmed and weak. In fact, the channel is a derivative of the trend line. The channel boundaries are drawn based on the upper and lower maximum price values (extremes). To create a connecting price channel, both lines must be parallel, and the number of points must not be less than indicated above. The more often the price touches the channel boundaries, the stronger and more effective the channel will be. 3. WHAT TO DO WITH THE PRICE CHANNEL? HOW TO TRADE IN IT? Use the bottom line of the uptrend channel to open long positions (to buy) - these are the most profitable signals. The resistance of the ascending channel in this case is the most important point of reference for short-term trades against the trend - from the upper limit of the ascending channel, you can open short positions (sales). In a falling market, the channel is descending, so a deal against the trend from its lower border will be a long position (buy), and from the upper border in the direction of a downward trend - short positions (sell). Crossing the channel boundaries may be a signal that the trend continues. This happens when the price breaks through and settles outside the channel boundaries, under or above the channel resistance. When it breaks through the upper limit of the ascending channel, it indicates that the trend is accelerating, and it may make sense for traders to activate purchases or open long positions. If it breaks through the lower boundary of the uptrend channel, it is a signal of a trend reversal, and it is better to open short positions. The approximate size of the falling price most often corresponds to the width of the range. The situation will be the opposite for a falling market with a descending corridor. 4. HOW TO BUILD A PRICE CHANNEL? To do this, you need at least three points on the chart. Two of them define a line of resistance or support, the third should be opposite to the first two. To build an uptrend channel, we need to understand where the trend movement begins. Determine from two local gradually ascending minimum points where the trend line should be drawn. These two local points will be the reference points, and the constructed line will be the base support line for the channel. Then draw another line parallel to the obtained line, which should pass through the highest point of the maximum - the very point opposite to the first two, which is located between the polls. We do the same for descending price channels - only in this case we draw resistance instead of support, the main line should pass through the highs, and the second trend line should pass through the minimum. The way to determine if you are dealing with a range is to allow the price to touch both levels, resistance and support, at least twice, and the levels should be horizontal. 5. HOW TO TRADE IN THE PRICE CHANNEL Trading in a price channel reveals a variety of strategies - trade either inside the channel, buy or sell from resistance or support. Or a breakout of the price channel. Intra-Channel Trading: Traders are pushed away from the channel boundaries. There is too high a probability that the price will move inside the channel and push off from its borders. Therefore, it makes sense to sell when the price reaches the upper limit, and buy when it reaches the lower limit. Trading on breakouts You need to understand that any channel, depending on the time, will be broken - and at this time there will be a strong price movement, on which the trader can make a big profit. It is convenient to use pending orders placed above the channel border for trading on a breakout. As soon as the price breaks through the channel boundary and reaches the pending order, it is triggered automatically. Let's summarize: Price channels are an excellent basis for trading strategies, as they are based on support and resistance lines. All channels end with a breakdown depending on the time, so you should not trade without a stop loss when trading inside the channel. You should not perceive the boundaries of the channel as something indestructible. The price can easily skip the channel boundary or, conversely, make a false breakthrough. You can trade inside or outside the channel, and both strategies can be combined. And most importantly : technical analysis will allow you to always stay on the right side of the market! Regards! R.Linda!
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Reminescence of a Scam Operator (ANTI SCAMMER GUIDE)Reminiscent of the roaring 1920s, the 2020 epidemic and the inability to work for many people brought an influx of new retail investors to the public market. Furthermore, the FED's decision to prop up the market by dropping interest rates combined with stimulus checks handed out by the U.S. government lured in even more investors who were hungry for profits. Although the market sensation also brought a rise of omnipresent scams across all trading platforms. Lack of workforce, sophisticated methods, and automated bots often play into the hands of perpetrators who try to get ahead of the platform and its users. Therefore, we decided to write this concise article with the purpose of helping new investors to recognize good apples from bad ones. The most common means of communication for criminals is to use private chat, public chat, comments, ideas, and headline references. Several examples of red flags are shown below. RED FLAGS AND OTHER POINTS: Asking for personal information and TradingView account information One common tactic criminals use to exploit their victims is to ask for personal information or account information (login and password). This information should not be disclosed to anyone, including someone claiming to be a platform's employee/support (as these people tend to have access to this information). Asking for trading account information Another standard method bad actors use is asking for trading account information. On such occasions, a perpetrator asks for existing account information or requests a victim to create a new account; then, a perpetrator usually asks the victim to invest money into the account and let them use it in return for shared profits. False promises The third point probably accompanies every other point on our list. This point relates mainly to false promises about trading achievements, which often include statements about having a high win rate, high net worth, and an unbeatable trading system. Financial gurus and lavish lifestyles A high follower count and strong social media presence do not equal reliability. Perpetrators often portray lavish lifestyles across social media platforms to entice more people and trick them into buying a trading signal service or trading course (or any other service). The public image does not necessarily have to match a person's authentic lifestyle. Indeed, trading as a career is highly time-consuming and does not come with trading from a vicinity of a pool or ski resort; that is just public perception. Trading signals and trading courses Unfortunately, most of the time, trading signal services (for buy) lack performance and do not consider subscribers' risk tolerance and account sizes. In regard to trading courses, we hold a similarly low opinion of them as we think learning a skill to trade goes far beyond a few hours of any trading course. Unrealistic win-rate claims Most brokerages report that their retail clients lose about 50-90% of the initial capital, especially when trading CFDs. Therefore, we would like to put in perspective how realistic claims about a high win rate really are. Professional traders tend to peak at approximately a 50% win-rate over a consistent period. Thus, claims about a 90% or higher win rate are likely to be false. Guaranteed moves and risk-free investments Another tactic of scamming utilizes guaranteeing moves in the market. However, there is nothing like a guaranteed move since the market constantly changes and is influenced by complex factors. These are just few points we included, however, we ask a public to share their own points in the comment section. DISCLAIMER: This content serves solely educational purposes.
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Trading needs to be treated like a business 🧑‍💼This is spoken about a lot but what does it mean?⁠ In starting a business you would need funding and a business plan, right?⁠ ⁠ You would have realistic goals mapped out and be focused on your cashflow.⁠ ⁠ You wouldn't blow your 'cash' in recruiting too fast, or buying too much stock or spending too much on marketing.⁠ ⁠ Yet, in trading most don't have a plan. Or focus on protecting their cash.⁠ ⁠ They also don't think long term in line with their plan.⁠ ⁠ They over estimate their expectations short term and in doing so mess up what they could achieve long term. ⁠ You just wouldn't do this in business right? No one would open or run a business you knew nothing about. Most come in to trading thinking this will be easy! It's not and we all come in knowing nothing. So again would you start any other business with no training or idea? Most can keep the trading cash flow topped up as we all start out on this journey having another job to fund trading. There is no such thing as a sure-fire way to make money online. However, if you seriously want to make money out of forex trading it needs treating like a business. In a lot of ways, being a trader is like being an entrepreneur. It takes more than just knowledge and a killer idea. It also takes hard work, discipline and mental preparation. The reason it’s a good idea to treat forex trading like a business is because as a trader, your account is your own business. Trading isn't about the quick money it's about being consistent. That consistency comes from having a plan and sticking to it much like you would a business plan. Treat losses as a cost of business and factor them into the plan. The business plan for you the trader will be the strategy and risk management you opt to run. Set realistic targets and goals this will ensure suitability, Much how good businesses set up there own goals and aims for coming year with out being to risky. If you lack on the knowledge front in certain areas invest in education and training, No successful business neglects training and learning. Invest in resources that will help your business grow. Yes TradingView is free but having a higher package and more data help me just as an example. There is no other business in the world like trading where the over heads and start up cost are low, So if paid resources can kick you on to next level factor them in as a cost of business. Keep treating trading as a hobby and it becomes an expensive one. Start treating trading as a business with the ethos and cultures applied the same as those of successful businesses and that profit starts to come naturally. Thanks for taking the time to read my idea. Hope you all have a good weekend Darren 👍 ⁠
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Education
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The News Just Serves To ConfuseI have been a trader for a very long time, so listen as I spit some facts. News is worse than a distraction, it ACTIVELY inhibits you from making good decisions. You have TradingView at your fingertips and it contains all the information you need, in a package so advanced it's frightening. STICK TO PRICE ACTION! I will say this again at the end. I am 100% certain that I only started to be successful after I stopped DIRECTIONAL trading based on news. Of course, I know the broad mass of what's going on in the markets and which news events may have an effect. I haven't stopped listening to and reading the news, but I HAVE started to see it all differently. You can see from the chart that all the recent "Shock News" has no real impact unless you are a day trader. rate decision, statements, unemployment, blah blah.... I am not saying that news is not important, I'm saying that you need to translate it and to be aware of why it is written. This probably sounds like a weird thing to say, but hear me out. Do a memory check with me. When was the last time that the news was all positive about bitcoin? Answer: At the top and on the way down, when the big boys were selling it to naïve retail (like you, probably). Now we are at the bottom, all the news is negative on BTC. I wonder why? (HINT: They want you to panic out so they can buy.) There are three possible reasons for this. 1. The writers are dumb. They are part of the retail crowd themselves and are therefore subject to the same impulses, fears and hopes. They get carried away when things are pumping, and drop into despair when the markets plunge. 2. The whole industry is driven by the big firms, who obviously want to make as much money as they can. Retail traders are, on average, so bad at trading that brokers don't even put their trades into the market, preferring to risk taking the other side themselves. 75% of retail traders lose money. 90% of retail traders will lose 90% of their first trading account in the first 90 days. If I were a broker I would take the other side of those odds, thanks. All I have to do now is make people trade as much as possible. I get commission, and I probably get their stake as well. How to make people trade as much as possible? PUMP OUT NEWS THAT TRIGGERS TRADING. 3. A combination of 1 and 2. The financial industry, from megabanks through to news services, gurus and brokers, is set up to excite people about trading as much as possible. There is constant pressure to provide reasons why oil rose 5% or SP500 dropped 8% etc etc, and even on slow weeks the sheer amount of stories that are published is mind-blowing. The writers are unlikely to be traders themselves, and they just pump out stories based on what happened yesterday and what MIGHT happen today. It is all designed as a massive call to action that is constant, and traders just like you open (and close) positions based on "market analyst" pieces written by economists and professional analysts employed by the brokers. Are you beginning to see how it all fits together? The industry LOVES a day trader most of all, because they lose their stake the fastest, so day trading is promoted as exciting. After all, it IS exciting. Trading gives you a buzz. It's addictive, possibly more so than gambling. It is gambling after all, only slightly different, and if you trade like a gambler, you lose in the end. So, how do I look at news? 1. If trading short-timeframe, I am aware of figures that are due this week, and avoid holding a position coming up to an announcement, and for a while afterwards. 2. If trading medium- to long-term, I remember that the non-farm payrolls may move the market a few percent sometimes, but when you zoom out you can barely see the effect. As a result most of my trading is swing trading. 3. I regard it as a reverse indicator if anything. It never ceases to amaze me when I am thinking about taking a long in, say, Gold, and then an email hits my inbox containing a bearish Gold story. I don't think I am becoming QAnon but I do think these stories can easily be planted by the big players. What journalist doesn't want to write a story after they interview some "master of the universe" trader from GS or JPM or wherever. Or maybe the boss says "write a Gold story today", so they call up their contact who trades it for a bank. Same effect. The banks are in buy mode, and they need retail to sell it to them. If this sounds like I think the whole thing is a colossal rigged casino, then I am getting my point across. News is just a part of the effort to separate you from your cash, but it's doing a great job. So, what to do? 1. Trade on Price Action only. 2. Be aware of news in case it affects a trade you may place or one that you have on, 3. Understand that nearly all news is designed to make you panic in or out of a trade, and regard it VERY cynically. It can be hard to remain calm in the face of a negative headline, but that's what a good pro trader will do. Currently I am long BTC, despite huge negative headlines. Once again, repeat after me: You have TradingView at your fingertips and it contains all the information you need, in a package so advanced it's frightening. STICK TO PRICE ACTION!
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Education
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How to improve your trading by looking at interest rates: Part 4Hey everyone! 👋 This month, we wanted to explore the topic of interest rates; what they are, why they are important, and how you can use interest rate information in your trading. This is a topic that new traders typically gloss over when starting out, so we hope this is a helpful and actionable series for new people looking to learn more about macroeconomics and fundamental analysis! You can think of rates markets in three dimensions. 1.) Absolute 2.) Relative 3.) Through Time In other words; 1.) How are rates traded on an absolute basis? AKA, do they offer an attractive risk/reward for investors? 2.) How are rates traded on a relative basis? AKA, what separates bond prices between different countries? 3.) How are rates traded through time? AKA, what is the "Yield Curve"? In our first post , we took a look at how to find interest rate information on TradingView, and how rates fluctuate in the open market. In our second post , we took a look at some of the decision making that investors have to make when it comes to investing in bonds (rates) vs. other assets. In our third post , we took a look at rates on a relative basis between countries. In today's final post, we'll be looking at how rates are traded through time - in other words, the Yield Curve. What information can you glean from looking at the Yield Curve? How can it help your trading plan? Let's jump in and find out! For reference, let's first get a look at the Yield Curve: This chart contains a couple different assets, so let's break them down quickly. The white/blue area is the rate of interest you receive for 2 year bonds when you buy them The orange line is the rate of interest you receive for 5 year government bonds when you buy them The teal line is the rate of interest you receive for 7 year government bonds when you buy them The yellow line is the rate of interest you receive for 10 year government bonds when you buy them The purple line is the rate of interest you receive for 30 year government bonds when you buy them As you can see, differing maturities for bonds pay different yields over time. If you purchased a 2 year bond in early 2021, you'd be earning 0.15% yield PER YEAR. At the same time, if you purchased a 30 year bond in early 2021, you'd be earning 1.85% yield PER YEAR. The situation has changed since then. Currently: If you purchase a 2 year bond, you're earning 3.56% yield PER YEAR. if you purchase a 30 year bond, you're earning 3.45% yield PER YEAR. In other words, the situation has completely flipped. Why did this happen? There are a few reasons, linked to many of the topics we discussed in the last few posts. Let's break them down. 1.) Central Bank Funds Rate risk 2.) Inflation Risk 3.) Credit Risk 4.) Market Risk To start, from early 2021 to now, the central bank has raised the funds rate materially. This means that government bonds must see their yield increase. Why lend money to the government if you get more sticking your cash in a savings account? Secondly, inflation has picked up. This has been a result of supply shocks across the globe for commodities & services. As shortages have cropped up and demand has been steady or increasing, increases in the price of everyday goods has led short term bonds to "Catch up" to the yields of longer maturity bonds. Thirdly, as GDP has shrunk over the last two quarters, the risk that the U.S. government will be unable to pay back its debt through tax receipts and bond issuance rises. Finally, as we said in the second post: When stocks are outperforming bonds, institutional demand for stocks is higher, indicating that people are feeling good and want to take risk. When bonds are outperforming stocks, it can be indicative that people would prefer to hold 'risk free' interest payment vehicles as opposed to equity in companies with worsening economic prospects. This demand for bonds plays out across the Yield Curve. Demand for 'risk free' assets increases as the economic outlook worsens, meaning that the Yield Curve is indicative of how market participants think the market situation will play out over a given period of time. If the yield for 2 year bonds is higher than 10 year bonds, then market participants through their purchases and sales are articulating that they expect the next two years to have more economic risk than the next ten. In other words, they expect some sort of economic slowdown. This is extremely useful for multiple types of traders: Equities are tied to the economy - if rates are saying something about economic prospects, then it's smart to pay attention, as it may inform your asset selection process / trading style FX is intimately tied with rates - if rates are moving, FX is sure to be impacted. Crypto has shown a high inverse correlation historically with the "ease of money" index. If rates are going up, then non-interest paying crypto becomes less attractive. Anyway, that's all for our series on Interest Rates! Thanks so much for reading and have a great rest of your weekend. - Team TradingView ❤️
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Pine scripts

RSI Past Can Turn RSI Into a Directional ToolThe Relative Strength Index was created by J. Welles Wilder to measure overbought and oversold conditions. It’s also found popularity as an overall measure of direction because upward-trending stocks often hit overbought conditions. The opposite can be true with underperformers. Today’s custom script, RSI Past, attempts to capture this secondary use of RSI as a directional indicator. RSI Past achieves this by comparing how many bars have passed since RSI's most recent overbought and oversold readings. It then plots a simple difference between those two numbers. Stocks with “bullish” signals will have positive readings that will increase each time RSI hits an overbought condition. “Bearish” readings are just the opposite, growing more negative as oversold conditions occur. An examination of some individual stocks may show the usefulness of this approach. Meta Platforms , for example, hit an oversold condition almost exactly one year ago, and has remained under heavy selling pressure since: Exxon Mobil , on the other hand, flipped to a bullish reading last October and has trended higher since: This raises some interesting questions for Apple, shown on the main chart above. AAPL’s RSI Past has maintained a bullish reading for over a year -- unlike most other big technology stocks and the broader Nasdaq-100. Could this reflect bigger directional strength, especially with prices holding the $150 level that’s had relevance several times mid-2021? TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. You Can Trade, Inc. is also a wholly owned subsidiary of TradeStation Group, Inc., operating under its own brand and trademarks. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
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4
ABC 123 Harmonic Ratio Custom Range Interactive█ OVERVIEW This indicator was designed based on Harmonic Trading : Volume One written by Scott Carney. This is about harmonic ratios which expanded through retracement and projection. Derivation is pretty much explained here such as Primary, Primary Derivation, Secondary Derivation and Secondary Derivation Extreme. Derivation value depends on minimum retracement or maximum projection. This derivation value utilize Fibonacci value which later expand to Harmonic Ratio. █ INSPIRATION Inspired by design, code and usage of CAGR . Basic usage of custom range / interactive, pretty much explained here . Credits to TradingView. This build is based and visualized upon Harmonic Trading Ratios. This build also was stripped down from XABCD Harmonic Pattern Custom Range Interactive . █ CREDITS Scott Carney, Harmonic Trading : Volume One (Page 18) █ FEATURES Table can positioned by any position and font size can be resized. Labels can be either changed to alphabets or numbers. █ HOW TO USE Draw points from Point A to Point C. Dont worry about magnet, point will attached depends on High or Low of the candle. █ USAGE / TIPS EXAMPLES (Description explained in each image)
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Pine Script™ indicator
3
Machine Learning: kNN (New Approach)Description: kNN is a very robust and simple method for data classification and prediction. It is very effective if the training data is large. However, it is distinguished by difficulty at determining its main parameter, K (a number of nearest neighbors), beforehand. The computation cost is also quite high because we need to compute distance of each instance to all training samples. Nevertheless, in algorithmic trading KNN is reported to perform on a par with such techniques as SVM and Random Forest. It is also widely used in the area of data science. The input data is just a long series of prices over time without any particular features. The value to be predicted is just the next bar's price. The way that this problem is solved for both nearest neighbor techniques and for some other types of prediction algorithms is to create training records by taking, for instance, 10 consecutive prices and using the first 9 as predictor values and the 10th as the prediction value. Doing this way, given 100 data points in your time series you could create 10 different training records. It's possible to create even more training records than 10 by creating a new record starting at every data point. For instance, you could take the first 10 data points and create a record. Then you could take the 10 consecutive data points starting at the second data point, the 10 consecutive data points starting at the third data point, etc. By default, shown are only 10 initial data points as predictor values and the 6th as the prediction value. Here is a step-by-step workthrough on how to compute K nearest neighbors (KNN) algorithm for quantitative data: 1. Determine parameter K = number of nearest neighbors. 2. Calculate the distance between the instance and all the training samples. As we are dealing with one-dimensional distance, we simply take absolute value from the instance to value of x (| x – v |). 3. Rank the distance and determine nearest neighbors based on the K'th minimum distance. 4. Gather the values of the nearest neighbors. 5. Use average of nearest neighbors as the prediction value of the instance. The original logic of the algorithm was slightly modified, and as a result at approx. N=17 the resulting curve nicely approximates that of the sma(20). See the description below. Beside the sma-like MA this algorithm also gives you a hint on the direction of the next bar move.
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Pine Script™ indicator
18
Delta Volume Channels [LucF]█  OVERVIEW This indicator displays on-chart visuals aimed at making the most of delta ​volume information. It can color bars and display two channels: one for delta ​volume, another calculated from the price levels of bars where delta ​volume divergences occur. Markers and alerts can also be configured using key conditions, and filtered in many different ways. The indicator caters to traders who prefer chart visuals over raw values. It will work on historical bars and in real time, using intrabar analysis to calculate delta ​volume in both conditions. █  CONCEPTS Delta Volume ​The ​volume delta concept divides a bar's ​volume in "up" and "down" ​volumes. The delta is calculated by subtracting down ​volume from up ​volume. Many calculation techniques exist to isolate up and down ​volume within a bar. The simplest techniques use the polarity of interbar price changes to assign their ​volume to up or down slots, e.g., On Balance Volume or the Klinger Oscillator . Others such as Chaikin Money Flow use assumptions based on a bar's OHLC values. The most precise calculation method uses tick data and assigns the ​volume of each tick to the up or down slot depending on whether the transaction occurs at the bid or ask price. While this technique is ideal, it requires huge amounts of data on historical bars, which usually limits the historical depth of charts and the number of symbols for which tick data is available. This indicator uses intrabar analysis to achieve a compromise between the simplest and most precise methods of calculating ​volume delta. In the context where historical tick data is not yet available on TradingView, intrabar analysis is the most precise technique to calculate ​volume delta on historical bars on our charts. TradingView's Volume Profile and CVD - Cumulative ​Volume Delta Candles indicators use it. Other ​volume delta indicators such as my Realtime 5D Profile use realtime chart updates to achieve more precise ​volume delta calculations. Indicators of that type cannot be used on historical bars however; they only work in real time. This is the logic I use to assign intrabar ​volume to up or down slots:  • If the intrabar's open and close values are different, their relative position is used.  • If the intrabar's open and close values are the same, the difference between the intrabar's close and the previous intrabar's close is used.  • As a last resort, when there is no movement during an intrabar and it closes at the same price as the previous intrabar, the last known polarity is used. Once all intrabars making up a chart bar have been analyzed and the up or down property of each intrabar's ​volume determined, the up volumes are added and the down volumes subtracted. The resulting value is ​volume delta for that chart bar, which can be used as an estimate of the buying/selling pressure on an instrument. Delta ​Volume Percent (DV%) This value is the proportion that delta ​volume represents of the total intrabar ​volume in the chart bar. Note that on some symbols/timeframes, the total intrabar ​volume may differ from the chart's ​volume for a bar, but that will not affect our calculations since we use the total intrabar ​volume. Delta ​Volume Channel The ​​DV channel is the space between two moving averages: the reference line and a DV%-weighted version of that reference. The reference line is a moving average of a type, source and length which you select. The DV%-weighted line uses the same settings, but it averages the DV%-weighted price source. The weight applied to the source of the reference line is calculated from two values, which are multiplied: DV% and the relative size of the bar's ​volume in relation to previous bars. The effect of this is that DV% values on bars with higher total ​volume will carry greater weight than those with lesser ​volume. The ​DV channel can be in one of four states, each having its corresponding color:  • Bull (teal): The DV%-weighted line is above the reference line.  • Strong bull (lime): The bull condition is fulfilled and the bar's close is above the reference line and both the reference and the DV%-weighted lines are rising.  • Bear (maroon): The DV%-weighted line is below the reference line.  • Strong bear (pink): The bear condition is fulfilled and the bar's close is below the reference line and both the reference and the DV%-weighted lines are falling. Divergences In the context of this indicator, a divergence is any bar where the slope of the reference line does not match that of the DV%-weighted line. No directional bias is assigned to divergences when they occur. Divergence Channel The divergence channel is the space between two levels (by default, the bar's low and high ) saved when divergences occur. When price has breached a channel and a new divergence occurs, a new channel is created. Until that new channel is breached, bars where additional divergences occur will expand the channel's levels if the bar's price points are outside the channel. Prices breaches of the divergence channel will change its state. Divergence channels can be in one of five different states:  • Bull (teal): Price has breached the channel to the upside.  • Strong bull (lime): The bull condition is fulfilled and the ​DV channel is in the strong bull state.  • Bear (maroon): Price has breached the channel to the downside.  • Strong bear (pink): The bear condition is fulfilled and the ​DV channel is in the strong bear state.  • Neutral (gray): The channel has not been breached. █  HOW TO USE THE INDICATOR Load the indicator on an active chart (see here if you don't know how). The default configuration displays:  • The ​DV channel, without the reference or DV%-weighted lines.  • The Divergence channel, without its level lines.  • Bar colors using the state of the ​DV channel. The default settings use an Arnaud-Legoux moving average on the close and a length of 20 bars. The DV%-weighted version of it uses a combination of DV% and relative ​volume to calculate the ultimate weight applied to the reference. The DV%-weighted line is capped to 5 standard deviations of the reference. The lower timeframe used to access intrabars automatically adjusts to the chart's timeframe and achieves optimal balance between the number of intrabars inspected in each chart bar, and the number of chart bars covered by the script's calculations. The Divergence channel's levels are determined using the high and low of the bars where divergences occur. Breaches of the channel require a bar's low to move above the top of the channel, and the bar's high to move below the channel's bottom. No markers appear on the chart; if you want to create alerts from this script, you will need first to define the conditions that will trigger the markers, then create the alert, which will trigger on those same conditions. To learn more about how to use this indicator, you must understand the concepts it uses and the information it displays, which requires reading this description. There are no videos to explain it. █  FEATURES The script's inputs are divided into four sections: "DV channel", "Divergence channel", "Visuals" and "Marker/Alert Conditions". DV Channel Here, you specify what you want to use as a reference line: its MA type, source and length. This is the ​DV channel's baseline. The DV%-weighted line will use the same settings, except that it will be calculated from the DV%-weighted source. By default, the DV%-weighted line is capped to five standard deviations of the reference line. You can change that value here. This section is also where you can disable the relative ​volume component of the weight, and choose the selection mode of the lower timeframe used to access intrabars. Divergence Channel This is where you configure the key price values to use in determining the channel's levels and breaching conditions. These choices have an impact on the behavior of the channel. More generous level prices like the default low and high selection will produce more conservative channels, as will the default choice for breach prices. In this section, you can also enable a mode where an attempt is made to estimate the channel's bias before price breaches the channel. When it is enabled, successive increases/decreases of the channel's top and bottom levels are counted as new divergences occur. When one count is greater than the other, a bull/bear bias is inferred from it. Visuals You can control here the display and appearance of most of the script's visuals: the reference line, the DV%-weighted line, the ​DV channel, the divergence channels and its levels, bar colors, a divergence mark, the color of markers and the information box which by default appears in the lower left of the chart. Marker/Alert Conditions Here, you specify the conditions that will trigger up or down markers. The trigger conditions can include a combination of state transitions of the ​DV and the divergence channels. The triggering conditions can be filtered using a variety of conditions. Configuring the marker conditions is necessary before creating an alert from this script, as the alert will use the marker conditions to trigger. Markers only appear on bar closes, so they will not repaint. Keep in mind, when looking at markers on historical bars, that they are positioned on the bar when it closes — NOT when it opens. Raw values The raw values calculated by this script can be inspected using a tooltip and the Data Window. The tooltip is visible when you hover over the top of chart bars. It will display on the last 500 bars of the chart, and shows the values of ​DV, DV%, the combined weight, and the intermediary values used to calculate them. █  INTERPRETATION The aim of the ​DV channel is to provide a visual representation of the buying/selling pressure calculated using delta ​volume. The simplest characteristic of the channel is its bull/bear state. One can then distinguish between its bull and strong bull states, as transitions from strong bull to bull states will generally happen when buyers are losing steam. While one should not infer a reversal from such transitions, they can be a good place to tighten stops. Only time will tell if a reversal will occur. One or more divergences will often occur before reversals. The nature of the divergence channel's design makes it particularly adept at identifying consolidation areas if its settings are kept on the conservative side. A gray divergence channel should usually be considered a no-trade zone. More adventurous traders can use the ​DV channel to orient their trade entries if they accept the risk of trading in a neutral divergence channel, which by definition will not have been breached by price. If your charts are already busy with other stuff you want to hold on to, you could consider using only the chart bar coloring component of this indicator: At its simplest, one way to use this indicator would be to look for overlaps of the strong bull/bear colors in both the ​DV channel and a divergence channel, as these identify points where price is breaching the divergence channel when buy/sell pressure is consistent with the direction of the breach. I have highlighted all those points in the chart below. Not all of them would have produced profitable trades, but nothing is perfect in the markets. Also, keep in mind that the circles identify the visual you would be looking for — not the trade's entry level. █  LIMITATIONS  • Because this script uses intrabars at a lower timeframe than the chart's, its realtime values will only update when a new intrabar completes.   You can see which lower timeframe is used in the script's information box.  • The script will not work on symbols where no ​volume is available. An error will appear when that is the case.  • Because a maximum of 100K intrabars can be analyzed by a script, a compromise is necessary between the number of intrabars analyzed per chart bar   and chart coverage. The more intrabars you analyze per chart bar, the less coverage you will obtain.   The setting of the "Intrabar precision" field in the "DV channel" section of the script's inputs   is where you control how the lower timeframe is calculated from the chart's timeframe. █  NOTES Volume Quality If you use ​volume, it's important to understand its nature and quality, as it varies with sectors and instruments. My Volume X-ray indicator is one way you can appraise the quality of an instrument's intraday ​volume. For Pine Script™ Coders  • This script uses the new overload of the fill() function which now makes it possible to do vertical gradients in Pine. I use it for both channels displayed by this script.  • I use the new arguments for plot() 's `display` parameter to control where the script plots some of its values,   namely those I only want to appear in the script's status line and in the Data Window.  • I wrote my script using the revised recommendations in the Style Guide from the Pine v5 User Manual. █  THANKS To PineCoders . I have used their lower_tf library in this script, to manage the calculation of the LTF and intrabar stats, and their Time library to convert a timeframe in seconds to a printable form for its display in the Information box. To TradingView's Pine Script™ team. Their innovations and improvements, big and small, constantly expand the boundaries of the language. What this script does would not have been possible just a few months back. And finally, thanks to all the users of my scripts who take the time to comment on my publications and suggest improvements. I do not reply to all but I do read your comments and do my best to implement your suggestions with the limited time that I have.
Editors' picks
Pine Script™ indicator
17
HSV and HSL gradient Tools ( Built-in Drop-in replacement )Library "hsvColor" HSV and HSL Gradient Tool Alternatives and helpers. Demo'd is built-in in the middle with HSL/HSV gradients on top/bottom TODO: Solve for #000000 issue rgbhsv(_col)   RGB Color to HSV Values   Parameters:      _col : Color input (#abc012 or color.name or color.rgb(0,0,0,0))   Returns: values rgbhsv(_r, _g, _b, _t)   RGB Color to HSV Values   Parameters:      _r : Red 0 - 255      _g : Green 0 - 255      _b : Blue 0 - 255      _t : Transp 0 - 100   Returns: values hsv(_h, _s, _v, _a)   HSV colors, Auto fix if past boundaries   Parameters:      _h : Hue Input (-360 - 360) or further      _s : Saturation 0.- 1.      _v : Value 0.- 1.      _a : Alpha 0.- 1.   Returns: Color output hue(_col)   returns 0-359 hue on color wheel   Parameters:      _col :   Returns: 360 degree hue value hsv_gradient(signal, _startVal, _endVal, _startCol, _endCol)   Color Gradient Replacement Function for HSV calculated Gradents   Parameters:      signal : Control signal      _startVal : start color limit      _endVal : end color limit      _startCol : start color      _endCol : end color   Returns: HSV calculated gradient hsl_gradient(signal, _startVal, _endVal, _startCol, _endCol)   Color Gradient Replacement Function for HSV calculated Gradents   Parameters:      signal : Control signal      _startVal : start color limit      _endVal : end color limit      _startCol : start color      _endCol : end color   Returns: HSV calculated gradient
Editors' picks
Pine Script™ library
9
Realtime TPO ProfileHello! This indicator comprises a real time TPO Market Profile! The script works on any timeframe 1 minute or greater - the script calculates relative to the timeframe selected for your chart. The image above shows the 1-minute BTCUSD chart; 650 +/- tick levels are set. To see the script in full functionality - try using bar replay on a cryptocurrency 1-minute chart (start at the beginning of a regular hours session). Be sure to adjust the tick spread if necessary (: So far, the script's held up in real time - I've not had any array loop errors or timeouts. The TPO profile updates accordingly with changes in time / high and low prices. Letters are appended to the profile in real time. The image above shows configurations for the indicator. I plan to update the indicator quite a bit over the coming days - more to come. You can select the timeframe change the indicator accounts for. For instance, you can have set the indicator to reset every day, every 30 minutes, every 5 minutes, every week, month, etc. In the image above, I configured the indicator to recalculate every 3 months. Consequently, the indicator will record a TPO profile for three consecutive, reset, then record a TPO profile for the next 3 months. This setting makes the indicator compatible with any timeframe greater than 1 minute. You can also use a drag & drop time-start bar to modify the starting point for the market profile TPO calculation. The image above shows an arbitrarily selected start time to begin the market profile TPO calculation. The indicator hosts an option to auto calculate the tick spread between levels. However, as you switch timeframes and assets, sometimes, you'll have to manually set the tick range (: Thanks for checking it out; more to come!
Editors' picks
Pine Script™ indicator
43
STD-Filtered, N-Pole Gaussian Filter [Loxx]This is a Gaussian Filter with Standard Deviation Filtering that works for orders (poles) higher than the usual 4 poles that was originally available in Ehlers Gaussian Filter formulas. Because of that, it is a sort of generalized Gaussian filter that can calculate arbitrary (order) pole Gaussian Filter and which makes it a sort of a unique indicator. For this implementation, the practical mathematical maximum is 15 poles after which the precision of calculation is useless--the coefficients for levels above 15 poles are so high that the precision loss actually means very little. Despite this maximal precision utility, I've left the upper bound of poles open-ended so you can try poles of order 15 and above yourself. The default is set to 5 poles which is 1 pole greater than the normal maximum of 4 poles. The purpose of the standard deviation filter is to filter out noise by and by default it will filter 1 standard deviation. Adjust this number and the filter selections (price, both, GMA, none) to reduce the signal noise. What is Ehlers Gaussian filter? This filter can be used for smoothing. It rejects high frequencies (fast movements) better than an EMA and has lower lag. published by John F. Ehlers in "Rocket Science For Traders". A Gaussian filter is one whose transfer response is described by the familiar Gaussian bell-shaped curve. In the case of low-pass filters, only the upper half of the curve describes the filter. The use of gaussian filters is a move toward achieving the dual goal of reducing lag and reducing the lag of high-frequency components relative to the lag of lower-frequency components. A gaussian filter with... One Pole: f = alpha*g + (1-alpha)f Two Poles: f = alpha*2g + 2(1-alpha)f - (1-alpha)2f Three Poles: f = alpha*3g + 3(1-alpha)f - 3(1-alpha)2f + (1-alpha)3f Four Poles: f = alpha*4g + 4(1-alpha)f - 6(1-alpha)2f + 4(1-alpha)3f - (1-alpha)4f and so on... For an equivalent number of poles the lag of a Gaussian is about half the lag of a Butterworth filters: Lag = N*P / pi^2, where, N is the number of poles, and P is the critical period Special initialization of filter stages ensures proper working in scans with as few bars as possible. From Ehlers Book: "The first objective of using smoothers is to eliminate or reduce the undesired high-frequency components in the eprice data. Therefore these smoothers are called low-pass filters, and they all work by some form of averaging. Butterworth low-pass filters can do this job, but nothing comes for free. A higher degree of filtering is necessarily accompanied by a larger amount of lag. We have come to see that is a fact of life." References John F. Ehlers: "Rocket Science For Traders, Digital Signal Processing Applications", Chapter 15: "Infinite Impulse Response Filters" Included Loxx's Expanded Source Types Signals Alerts Bar coloring Related indicators STD-Filtered, Gaussian Moving Average (GMA) STD-Filtered, Gaussian-Kernel-Weighted Moving Average One-Sided Gaussian Filter w/ Channels Fisher Transform w/ Dynamic Zones R-sqrd Adapt. Fisher Transform w/ D. Zones & Divs .
Editors' picks
Pine Script™ indicator
17
Portfolio PerformanceThis indicators will help you to compute portfolio performance and display results with a stats table and a nice monthly chart. In this script you can do following: Compose portfolio with up to 15 instruments Change Initial capital / date range / rebalancing period Compare portfolio performance with a benchmark Compute basic stats Compute instruments contribution Display monthly performance of portfolio and benchmark Change style for almost everything you see on your chart Hope it will be useful for you! Thanks to @MUQWISHI for helping me coding it. Disclaimer Please remember that past performance may not be indicative of future results. Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting. This post and the script don’t provide any financial advice.
Editors' picks
Pine Script™ indicator
4
Weighted percentile nearest rankYo, posting it for the whole internet, took the whole day to find / to design the actual working solution for weighted percentile 'nearest rank' algorithm, almost no reliable info online and a lot of library-style/textbook-style solutions that don't provide on real world production level. The principle: 0) initial data data = 22, 33, 11, 44, 55 weights = 5 , 3 , 2 , 1 , 4 array(s) size = 5 1) sort data array, apply the sorting pattern to the weights array, resulting: data = 11, 22, 33, 44, 55 weights = 2 , 5 , 3 , 1 , 4 2) get weights cumsum and sum: weights = 2, 5, 3 , 1 , 4 weights_cum = 2, 7, 10, 11, 15 weights_sum = 15 3) say we wanna find 50th percentile, get a threshold value: n = 50 thres = weights_sum / 100 * n 7.5 = 15 / 100 * 50 4) iterate through weights_cum until you find a value that >= the threshold: for i = 0 to size - 1 2 >= 7.5 ? nah 7 >= 7.5 ? nah 10 >= 7.5 ? aye 5) take the iteration index that resulted "aye", and find the data value with the same index, that's gonna be the resulting percentile. i = 2 data = 33 This one is not an approximation, not an estimator, it's the actual weighted percentile nearest rank as it is. I tested the thing extensively and it works perfectly. For the skeptics, check lines 40, 41, 69 in the code, you can comment/uncomment dem to switch for unit (1) weights, resulting in the usual non-weighted percentile nearest rank that ideally matches the TV's built-in function. Shoutout for @wallneradam for the sorting function mane ... Live Long and Prosper
Editors' picks
Pine Script™ indicator
37
(Quartile Vol.; Vol. Aggregation; Range US Bars; Gaps) [Kioseff]Hello! This indicator is a multifaceted tool that's, hopefully, useful for price action and volume analysis. (This script makes use of the newly introduced "text_font" parameter) With this script you'll have access to: Range US Chart Volume Aggregation Chart Gaps Chart Volume by Quartile Consequently, you'll have access to: First Quartile Volume Threshold Second Quartile Volume Threshold Third Quartile Volume Threshold 90th Percentile Volume Threshold Fourth Quartile Volume Threshold Q2 - Q1 Dispersion Q3 - Q2 Dispersion Q4 - Q3 Dispersion Quartile Deviation Interquartile Range Avg. "n" bar return following "high" volume Avg. "n" bar positive return following "high" volume Avg. "n" bar negative following "high" volume # of Positive Returns Following a Gap # of Negative Returns Following a Gap # of Gaps # of Up Gaps # of Down Gaps Average # of bars to fill Up Gaps Average # of bars to dill Down Gaps Average Gap Up % increase Average Gap Down % decrease Cumulative % increase of all Up Gaps Cumulative % decrease of all Down Gaps Sort gaps by distance from price Hide gaps that price substantially deviates from (gaps will reappear when price trades near the gap) Segment Range US bars by date Manually configure Range US price thresholds Identify "congestion" areas with Range US bars Range US Levels that must be exceeded for a new Range US bar to produce Manually configure cumulative volume threshold for Volume Aggregation bars Segment Volume Aggregation bars by date Largest Volume Aggregation bar increases Largest Volume Aggregation bar decreases Calculate log returns after "high" volume sessions Quartile Volume The Quartile Volume portion of the script segments price/volume intervals by quartile. The image above shows features of the indicator. For statistics, the following metrics are recorded: First Quartile Second Quartile Third Quartile 90th Percentile Fourth Quartile Q2 - Q1 Dispersion Q3 - Q2 Dispersion Q4 - Q3 Dispersion Quartile Deviation Interquartile Range Color-coordinated price bars (by volume quartiles) The percent rank for the volume of the current bar Avg. "n" bar return following "high" volume Avg. "n" bar positive return following "high" volume Avg. "n" bar negative following "high" volume The script colors bars via gradient. By default, bars are colored lime when volume for the interval is "high" (exceeds upper quartile thresholds). The greener the bar, the higher the volume for the interval. Bars are colored red when volume for the interval is "low" (fails to exceed lower quartile thresholds). The redder the bar, the lower the volume for the interval. Naturally, brownish-colored bars reflect a volume interval that concluded near the median. The image above exemplifies the process. This feature might be useful to categorize / objectively define high-volume clusters, low-volume clusters, high-volume price moves, low-volume price moves, etc. For greater precision, you can select to color bars by volume quartile they belong to. The image above shows color-coordinated price bars. More details shown in the image. Additionally, you can select to plot the quartile/percentile that a price bar belongs to on the chart. The image above shows price bars numbered by the volume quartile they belong to. The script will distinguish successive 90th percentile violations, superimpose a linear regression channel atop the data sequence, and record pertinent statistics. The image above shows the process. Lastly, the user can plot an anchored VWAP using a built-in time function. The image above shows the anchored VWAP. Range US Chart A Range US chart operates irrespective of time and volume - simply - bars produce after a user-defined price move is achieved/exceeded in either direction. A range us chart produces “trend candles” and “reversal candles”. A reversal candle always moves against the most immediate bar; a trend candle always moves in favor of the most immediate bar. The user defines the dollar amount price must travel up/down for a trend candle to fulfill, and for a reversal candle to fulfill. Note: if a “down reversal” candle (red) Is produced, it’s impossible for the next candle to also be a down reversal candle - for the downside move to continue the criteria for a down trend candle must be fulfilled. Similarly, if an “up reversal” candle (green) Is produced, it’s impossible for the next candle to also be an up reversal candle - for the upside move to continue, the criteria for an uptrend trend candle must be fulfilled. Consequently, Range US bars frequently trade at the same level for extended periods. This is intentional, as this chart type is theorized to “filter noise” (whether Range US charts fulfill this theory is to your discretion). Lastly, if an up trend candle (green) is produced, the next candle cannot be up a reversal up candle - only a trend up candle or reversal down candle can produce - vice versa for a trend down candle (the subsequent candle cannot be a reversal down candle). In this sense, an uptrend continues on successive trend up candles; a down trend continues on successive trend down candles. The image above exemplifies Range US chart functionality. The lower-right stats table shows the requisite price move for a "Trend" candle to produce and for a "Reversal" candle to produce. The default settings for this chart time automatically calculate the required "Trend" candle price move and the required "Reversal" candle price move. However, both settings are configurable. The image above shows manually configured parameters for a trend bar and reversal bar to produce. This feature allows the user to replicate the Range US chart hosted on extrinsic charting platforms. However, please consider that this script does not use tick data; 1-minute OHLC data is used for calculations. Consequently, configuring the trend bar and reversal bar requirement too low may return inaccurate data. For instance, if you set trend candles to form after a $1 price move then trend candles will form if price moves up $1 from a green Range US bar or down $1 from a red Range US bar. This is sufficient for lower priced assets; however, if you were trading, for instance, Bitcoin - a $1 price move can happen numerous times in one minute. This script can’t plot bars and record data until a 1-minute bar closes and a new 1-minute bar opens. Further, if Bitcoin moves up $1 twenty times and down $1 twenty times in a 1-minute bar - your Range US chart will record such variations as one price move. This data is inaccurate and likely useless. To counter this quandary, a warning message will appear if you configure trend bar price moves or reversal bar price moves too low. The image above shows the concealable warning message. The image above is a flow diagram (made with shaky hands) illustrating the Range US bar formation process. A google search will return additional information on the Range US chart type. Volume Aggregation Bars TradingView user and member of the TradingView Discord server @ferreirajames informed me of the Volume Aggregation chart type. The user commented in the "Suggestions" channel for the TradingView Discord server asking for the Volume Aggregation chart type. As an interim fix, I tried my hand at recreating the process, which is available in this script. Similar to the Range US chart type, Volume Aggregation bars aren’t bound to a time-axis; the bars form after a user-defined, cumulative amount of volume is achieved or exceeded. Consequently, once the cumulative amount of volume is achieved or exceeded - a bar is produced at the corresponding price level. Underlying theory: The chat type is conducive to identifying price levels where traders are “trapped”. Whether the process adequately distinguishes this circumstance is to your discretion. The image above exemplifies the Volume Aggregation chart type. Regardless of the current price, Volume Aggregation bars for after a requisite amount of volume is achieved/exceeded. Tick data isn't used; therefore, remainder values are carry over. By default, the script automatically calculates a proportional cumulative volume total to dictate the formation of Volume Aggregation bars. However, the cumulative threshold is configurable. The image above shows Volume Aggregation bars forming subsequent a user-defined cumulative volume total being exceeded. Note: This chart type uses OHLC data from the timeframe of your chart. Therefore, for instance, setting the volume threshold too low will produce inaccurate, useless data. A warning message will appear for such occurrence. Gaps The indicator incorporates a "Gaps" chart type. The image above shows accompanying features. A list of all unfilled gaps is accessible - gaps for this list are sorted by distance from current price. Partially filled gaps are displayed in the corresponding gap box - the percentage amount the gap was filled is also displayed. Gap statistics show: # of Gaps # of Up Gaps # of Down Gaps Average # of bars to fill Up Gaps Average # of bars to dill Down Gaps Average Gap Up % increase Average Gap Down % decrease Cumulative % increase of all Up Gaps Cumulative % decrease of all Down Gaps Naturally, there may be gaps formed thousands of bars ago that aren't close to price. Showing these gaps on the chart will "scrunch" the y-axis and make prices indistinguishable. I've added a setting that allows the user to hide gaps that are "n" % away from the current price. The gap, if unfilled, will reappear when price trades within the user-defined percentage. The image above shows an example. There's an unfilled down gap that's "hidden" because the current price is a further % away from price than what I've specified in the settings (1%). When prices trade back within 1% of the gap - it will reappear. The image above shows the process in action. Prices moved back within 1% (can be any %) of the gap; therefore, it reappeared on the chart. You can also set the % distance a gap must achieve for it to be considered a gap, recorded and plotted. Additionally, you can select to "visualize" gaps. Similar to the Range US chart and the Volume Aggregation chart, this setting will bars reflecting the most recent sequence of gaps - date and percentage distance of the gap are superimposed atop the bar. Let me know if there's anything else you'd like included! Note: The initial compilation time for this script is.... high. However, once the script's compiled, calculation load times are quick and you can sift through assets and timeframes relatively quick. There's also a setting to "Improve Load Times" in the user-inputs table. This setting only improves the load times for post-compilation calculations and plots. The initial compilation load time is unchanged. Simply, once the indicator has "first loaded", all subsequent loads are quick. Thank you! (:
Editors' picks
Pine Script™ indicator
26

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Complete Dollar (DXY) Top Down Analysis =Where Is It Headed Now?Traders and Investors, Dollar has been on a run again and it is moving towards our multi year target of 113 which we predicted nearly 2 years ago. Although it completed a W pattern and was inside an FCP zone, it did not have a substantial correction. On smaller time frames, it showed a little retaracement but that was not enough. The strength in dollar is taking it to our next multi year target of 113 zone. This zone again will have potential to push the price down or at least sow it a bit. After that we will have 116 as a new intermediate resistance followed by 127 zone. In this DXY (Dollar) technical analysis we will study few scenarios which can help in understanding what is about to come next few days/weeks. Please support this analysis by liking and sharing. 👍🙂 Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
Preparing to catch the falling market knife - short-term tradersIn this video we recap the US stock market price action from last week and game plan for the week ahead. We break down the 3 possible scenarios the market may take next week and how to plan/structure trades around them. This video was specifically recorded for short-term tactical traders looking to catch a multi-day bounce, and does not acknowledge/discuss the fact that we are in a longer-term bearish market environment.
Bearish trend to reach its end ?As we can see on the chart, Gold is struggling under dollar's pressure. It is making lower highs and now a lower low on bigger timeframes. RSI on the daily started showing bullish divergence. However, wave 5 can be equal to wave 1 when we meet an extended wave 3. This length will be reached on 1635 level for Gold. From another perspective, it can go to 1585 (1.25 Fib retracement, same as the previous bearish wave in 2021). You can still think that we were in an overall bullish trend with an irregular correction ABC, extended to more than 100% fib retracement, so now we are in the wave C, formed by 12345, we meet the same fifth wave, and follow the same analysis. Wait for buying setups near these critical levels. Goodluck, Joe.
Long
XAUUSD | Perspective for the new week | Follow-up detailsGold plunges to a new two-year low below $1,640 during the course of last week's trading session to set the tone for the risk of further decline in price. As the Greenback continue to soar, I want to see how price action is going to relate to the current structure identified on the 4H timeframe before making an informed decision next week. Risk Disclaimer: Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility. You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment. I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith. Past performance is not necessarily indicative of future results.
Market Update 9/25/22 Why We Cant Have Nice ThingsTIMESTAMPS: ________________________________________ BTC 0:00 Why the Macro Still looks Bad 7:02 ETH/BTC 8:33 DOGE 9:35 XRP 12:55 Closing Statements 19:45 ________________________________________ I go over what I think pretty quickly and then go into the nuance of the movements and then a quick overview of ETH/BTC, Doge and XRP. I recommend watching at least the first 4-5 minutes of the video. Summary: the Macro looks horrible and that hasn't changed. The price needs to reach around 22.4k within the next couple of days for me to even consider a change in mid-term trend. The fact that BTC mainly moves when the stock market is open hasn't changed either. There are conflicting buy and sell signals on the short term now with converging sell signals on the 2 and 4hr timeframes. Yesterday's day candle, to make things worse, hit the target we needed to hit on todays candle, 4 hours before it needed to be hit. Furthermore, were collapsing back down to hit the target we need to hit (today), with the downward trend from everything crated on todays day candle thus far. I mention Doge XRP and ETH/BTC also, but not much has changed with those. Check near the end of the video for XRP as it is the only one that may have a chance of doing anything. Though, depending on where the day timeframe candle ends for btc things could be bad in the short short term and indicate weakness coming into the stock market this Monday. Now, I wait for things to happen, so none of this means much to me until we start these candles where I want to see them. I just like to put out my thoughts to better explain my thinking and show how this strategy can be used for the longer time frames and similarly for the shorter time frames. Also BTC starting the week right under the Day hull and with a down trend on it, generally shows a big drop chance on the short to mid term. I will be streaming the Week candle change, starting tonight at 19:30 EST (UTC-4). As I always do.
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