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The Power of The Trend Line. In this piece I'm going to shed some light on the most basic, and yet, most overlooked TA tool to exist in chart analysis, the Trend Line. A trend line is a simple way to plot the price path of any asset. By connecting a set of lows or highs you can see the general direction the price of an asset is moving. Looking at the daily chart of Bitcoin we can see the bear market of 2018. By simply connecting the two first definable peaks (Beginning of March and May), we plot a line that dictates the price movement for the rest of the year. On multiple occasions, the trend line rejected the price and simply shorting off this trend line would have reaped huge profits. Most interestingly, however, is what happened at the beginning of April 2019. For the first time in over a year the price started trading above the trend line for a few days, what followed was an explosive rally of more than 25% in a single day. I remember clearly when this happened everyone was stabbing in the dark for reasons why Bitcoin was rallying. All kinds of Eliot wave theories and Fibonacci fans were being plotted and people were citing irrelevant news as the catalyst behind the rally. However, once again the teachings of Occam's razor had me looking at the simple violation of the downtrend line. Trend lines are not only a dominant force on long term charts. Let's look at the BTC 4 hour chart. If we plot a line with the two peaks from June 26 and July 10 respectively, we get a trend line. Then in early August as the price was moving up, where do you think we would run into resistance? Precisely on the predetermined trend line. Not a coincidence. Next, let's look at an even shorter time frame, the 1 hour BTC chart. From July 30 - August 9 the price rode a trend line that could be plotted within the first few days. Then on August 10th we started trading beneath the trend line, what followed was a swift 20% correction. Now let's look at the 5 min chart of the current price movement. The two lows on August 15th and 16th can be used to plot and uptrend line, and look what follows.... The longer you look, the more of these examples of this you can find, on almost any time frame with almost any asset. Markets are driven mostly by human psychology and that is why these trend lines are so dominant. They can help to identify the most optimal point to enter an up or down trend, predict tops and bottoms of short term rallies, and be an accurate gauge of market conditions.
KRAKEN:BTCUSDEducation
by HyptoCrypto234
#DeMARK #Sequential Tutorial 2 - Trend & Reversal (Bear -> Bull)Note: This tutorial is based on the comments made in Jason Perl's book DeMARK Indicators. I strongly recommend you to read this book if you want more in-depth knowledge. I publish this tutorial for educational purposes only TD Countdown - Bullish Case 1. Definition TD Countdown is the second component of TD Sequential and cannot come into play until a TD Setup formation is complete. Once the first condition is met, TD Countdown can begin, from the close of bar nine of TD Setup (inclusive), onward. TD Countdown works in either direction: For the bullish case, the increment occurs when the current close is lower than the low two bars earlier. This price relationship is an important distinction from TD Setup, because the market must be trending for TD Countdown to objectively identify the likely exhaustion point for a trend reversal In my TD Enhanced Sequential indicator , TD Countdown is represented by circled numbers from 1 to 13. Note these numbers from the countdown phase: 3/4/6/7/9/10 were replaced by a special character. 2. Requirement # Prerequisite: As soon as a TD Buy Setup is in place, we can start looking for the first bar of a TD Buy Countdown # To initiate a TD Buy Countdown With bar nine of the TD Buy Setup in place, there must be a close less than, or equal to, the low two bars earlier. Bar nine of a TD Buy Setup can also be bar one of a TD Buy Countdown if it satisfies the previous conditions. Unlike TD Buy Setup, TD Buy Countdown doesn’t have to be an uninterrupted sequence of qualifying price bars; the TD Buy Countdown process simply stops when markets are trading sideways, and resumes when prices start trending lower again. # Nested TD Buy Countdown On bar 9 Setups, an additional step exists to check if a Countdown is already in place. In case a previous Countdown (A) is detected, a new nested Countdown (B) initiate without ending the (A) Countdown. You will be able to detect the start of a nested Countdown with a clear graphical signal on 9 Setups: Start of Normal Countdown: 9 Start of Nested Countdown: Color Codes: Green/Red : Perfected BUY/SELL Setup Gray: Unperfected BUY/SELL Setup # To Complete a TD Buy Countdown The low of TD Buy Countdown bar thirteen must be less than, or equal to, the close of TD Buy Countdown bar eight, and The close of TD Buy Countdown bar thirteen must be less than, or equal to, the low two bars earlier. When the market fails to meet these conditions, TD Buy Countdown bar thirteen is deferred and a plus sign (+) appears where the number thirteen would otherwise have been. # TD Buy countdown cancellation Although a developing TD Buy Countdown doesn’t reset itself if there is an interruption in the sequence of closes each one of which is less than, or equal to, the low two bars earlier, there are a number of built-in conditions, or filters, to help the trader recognize when the dynamics of the market are changing. These filters erase the as-yet-incomplete TD Buy Countdown. If the price action rallies and generates a TD Sell Setup, or If the market trades higher and posts a true low above the true high of the prior TD Buy Setup—that is, TDST resistance. As we may have now, 2 countdowns in place at the same moment, it is useful to identify which countdown is being cancelled. The "X" character indicates a Countdown cancel. These colors clarify which countdown is impacted: Green/Red : Main countdown Gray: Nested Countdown This completes the second tutorial. More to come. Also check my profile to access more content. Take care MATHR3E
BITSTAMP:BTCUSDEducation
by MATHR3E
Tutorial on Advanced Swing Trading Entry & Exit PointsSteps to Swing Trading: 1. Find a trend: uptrend in bull price action chart, or downtrend in bear price action chart. 2. Analyze the trend to find the best entry points on that trend. That means finding the HL higher low points in and bull market, and LH lower high points in a bear market. Look for HLs in a bull market, and LHs for a bear market. 3. Confirm the best entry points in the trend with supporting candlestick patterns. Find a good bullish candlestick pattern on the HLs of a bullish market, and good bearish candlestick patterns for LHs of a bear market. These include pin bar patterns, engulfing candlestick patterns, inside bar candlestick patterns. They confirm a reversal As a general rule of thumb, entry points above 30 Day and 50 Day EMA lines provide more confirmation of the direction of the trend. To be most successful, remember to never go short in the bullish/uptrend market, and never go long in a bearish/downtrend market. This manages risk. Uptrends: Wait until an uptrend is confirmed before investing: uptrends are confirmed by two higher highs, with two higher lows on the chart. To elaborate, that means if we have two back-to-back HHs and HLs, that indicates the uptrend is confirmed and it's time to look for strong bullish candle or bullish reversal candlestick patterns at the third HL. Downtrends: To confirm downtrends, wait until two lower highs and two lower lows have formed in the price action chart. If you find two recurrenct LHs and LLs in a chart, then this price action setup marks that a new downtrend has been confirmed and the bear has begun. Start selling/short trading from LH 3 IF you find a strong bearish candle pattern or a strong bearish reversal candlestick pattern at the lower high level 3. Conclusion: This is the main process for swing trading strategy. Practice this process on historical charts to improve your understanding and mastery of the strategy, then manage your risk investing.
BITSTAMP:BTCUSDEducation
by Grandmaster76
XRPUSD Indicator Based AnalysisAs we know there is a lots of talk around the traders for XRP, few are bullish by calling the price as bottom while few are still bearish. Let's have a look at charts with some indicators. At first one must notice that the bigger time frame(1D chart) is showing that the XRP is in descending triangle pattern(shown in chart with blue lines) according to the triangle the bottom price is around $0.277. Now lets talk momentum: EMA cross EMA cross is showing us continuation of falling prices for medium term. Following this scenario price behavior should go to the down around $0.29 before a turn around. Here possibly we can see a low wick to the down in attempt to touch the bottom of the triangle, if the price needs to go higher in short term. Key Level Short term price may bounce back to $0.36 - $0.37, but momentum will be still bearish. If we break the resistance around $0.46(triangle breakout), we can expect a bull trend. I haven't gone with trend lines, this analysis is based on a few reliable indicators(EMA cross,MA, ichimoku cloud, support and resistance). REMEMBER : Use your analysis before pressing LONG/SHORT, you are the owner of your mind and it is your money. If your idea(s) matching with this analysis you're good to go. :) If you found it useful, do not forget to hit thumbs up button. :) Best Wishes
BITSTAMP:XRPUSDEducation
by itsmishrahere
#DeMARK #Sequential Tutorial 1Note: This tutorial is based on the comments made in Jason Perl's book DeMARK Indicators. I strongly recommend you to read this book if you want more in-depth knowledge. I publish this tutorial for educational purposes only TD Setup TD Setup is the first component of TD Sequential. It determines whether a market is likely to be confined to a trading range or starting a directional trend. TD Setup works in either direction: It consists of a nine consecutive closes; each one than the corresponding close four bars earlier. In the TD+ Enhanced Sequential indicator, TD Setup is represented by numbers from 1 to 9. 1. Bullish case (TD Buy Setup) # Definition: Step1: Bearish TD Price Flip. The prerequisite for a TD Buy Setup is a Bearish TD Price Flip, which indicates a switch from positive to negative momentum. TD Price Flip is bar 1 (Red) out of 9. Step2: TD Buy Setup After a bearish TD Price Flip, there must be nine consecutive closes; each one less than the corresponding close four bars earlier. # TD Buy Setup “Perfection”: The low of bars eight or nine of the TD Buy Setup or a subsequent low must be less than, or equal to, the lows of bars six and seven of the TD Buy Setup How to differentiate perfected and unperfected Buy Setup within TD+ Enhanced Sequential Indicator: Perfected Buy Setup is a RED character '9' Unperfected Buy Setup is a GRAY character '9' # Interruption of a TD Buy Setup: If, at any point, the sequence is interrupted, the developing TD Buy Setup will be canceled and must begin anew. 2. Bearish case (TD Sell Setup) # Definition: Step1: Bullish TD Price Flip The prerequisite for a TD Sell Setup is a Bullish TD Price Flip, which indicates a switch from negative to positive momentum. TD Price Flip is bar 1 (Green) out of 9 Step2: TD Sell Setup After a Bullish TD Price Flip, there must be nine consecutive closes; each one greater than the corresponding close four bars earlier. # TD Sell Setup “Perfection” The high of TD Sell Setup bars eight or nine or a subsequent high must be greater than, or equal to, the highs of TD Sell Setup bars six and seven How to differentiate perfected and unperfected Buy Setup within TD+ Enhanced Sequential Indicator: Perfected Sell Setup is a GREEN character '9' Unperfected Sell Setup is a GRAY character '9' # Interruption of a TD Sell Setup If at any point, the sequence is interrupted, The developing TD Sell Setup will be canceled and must begin anew. This completes the first tutorial. More to come. Also check my profile to access more content. Take care MATHR3E
BITSTAMP:BTCUSDEducation
by MATHR3E
1
Trend figure Flag, pennant and triangle These figures tell us the trend continues. Flag has even structure, doesn’t contract or widen. It’s just a flat with slight slope against the major trend. The indispensable condition is the availability of a flagpole – a swift and strong movement toward trend and the following stop. At this moment, the market take a short rest and gains new volumes for another dash. You can work either from the bottom level of the flag itself, or when the top one is broken. Pennant is the same thing as flag, but it contracts with time. Flagpole is also required. For details, see here >>> pamm-trade.org
FEducation
by IgorPorokh
Btc -Gap Trading StrategyGap Trading Strategy Rules-How To Trade Gaps 1. You need to choose a currency pair with a high level of volatility. btcusd is a good example but any currency pair that forms a weekend gap should also be good. 2. When the trading day starts on Monday, look to see if there is a gab. Make sure that the gap is at least 5 times the average spread for the pair. For example, if the spread is 3 pips, make sure that the gap is  15 pips or above. Anything less would be considered irreverent 3. If you see that Monday’s candlestick open is below the Friday’s close then the  forex gap is negative and you should open a Long position at market price. 4. If you see Monday’s open is above the Friday’s close the forex gap is positive and you should open a Short position at market price. 5. You can apply two stop loss options: (a) apply no stop loss at all INITIALLY but as price moves in favor by say 50 pips, place stop loss above high or low of the Monday Candlestick when it closes (b) Place stop loss above/below nearest swing high/swing low the you can find in 1hr timeframe or 4 hour timeframe. 6. Just 5 minutes before the market closes on Saturday, (e.g., 5 minutes before the end) you need to close your trade.
CME:BTC1!Education
by IgorPorokh
1
Bitcoin: Levels of Price Action One of the first most important and fundamental thing for any trader to do, is to properly define price levels on chart. Dealing with Bitcoin price in 2019 you can witness it's peak near 20 000 price range and as price went down by now to 3750 area, this means most traders will set their levels at closest round numbers like of course at the middle 10 000 and lower 5000 level. Second important levels are intermediate primary like 2500 and 7500 which are calculated by dividing main levels in two, and finally you get secondary intermediate levels 8850, 6250, 3750 also calculated by division in half. As you can see on BTC chart these levels work out perfectly well. Setting levels is a very simple part of TA, but it gives a lot more comfort and vision, when making trading decisions. Good Luck
BITFINEX:BTCUSDEducation
by leonidtoburokov
Week in Review: All of Old. Nothing Else Ever. Except Sometimes.First Off If you enjoy these weekly publications and would like to keep up-to-date with the latest and greatest scripts, share this article and follow me on TradingView. No Turning Back Now Last week the TradingView community made an effort to publish some high-quality, open-source studies and strategies for everyone to benefit from, which in turn required from me a better quality articles on the week. This seemed to be a popular decision and (hopefully) better sponsors the script that I discuss. This week I’ll try to do more of the same, but in order to improve I’ll need some input from the readers. So please, if you have any suggestions on how to improve these articles, don’t be afraid to express them either in the comments or via a direct message. In this Week’s Charts Let’s first mention MichelT’s “Average True Range in pine”. Although the function for the atr() is already available in Pine, it’s handy to understand the math behind the function should you need to circumvent some error messages that TradingView is giving you when using the built-in atr(), or if you wish to modify the formula to fit another purpose. Speaking of changes to fit another purpose, jaggedsoft’s “RSX Divergence - Shark CIA” takes everget’s “Jurik RSX” and modifies it to include divergences, the code of which was snipped from Libertus’s “Relative Strength Index - Divergences - Libertus”. This implementation calmly spots meaningful anomalies between price action and the oscillator in question. everget himself was relatively prolific this week, doing what he does best and adding to the open-source repository of moving averages available on TradingView (a repository that he’s had a heavy hand in establishing). This week he’s gifted us the “McNicholl Moving Average”, developed by Dennis McNicholl, as well as the “Quadruple Exponential Moving Average” and the “Pentuple Exponential Moving Average”, both developed by Bruno Nio. It’s great to see him publishing open-source work again and hopefully this continues into the future. And Left Out of Last Week’s Charts Last week was probably a more appropriate time to include them, but, alas, I had a (major) oversight. So allow me to give a quick introduction to puppytherapy through the two scripts published in the last week, “APEX - ADX/ADXR/DI+/DI- ” and “APEX - Moving Averages ”. Both are insightful compositions on how to get the most from simple indicators. I look forward to seeing more of his work (and I’ll try, in future, not to disclude good work like what he put out last week) Milk it for What it’s Worth I mean, who doesn’t enjoy seeing people apply simple methods to maximum effectiveness? Much like puppytherapy , nickbarcomb’s (a joke some of my Northern Irish friends would appreciate) “Market Shift Indicator” could be a lesson to a lot of us on how to get more from our moving averages and I’ll certainly be applying some of his concepts to develop prototypical signal systems with moving averages in the future. Someone who’s concepts I’ve borrowed from before with great success is shtcoinr , a user who, along with many others, has appeared regularly in this series. A master of compiling simple and effective S/R indicators (something that was a bit of a mystery to the TradingView community for a while), shtcoinr has done it again with his “Volume Based S/R”, a S/R indicator that paints boxes according to volume activity, and “Grimes Modified MACD Supply Demand”, a modification of his “RSI-Based Automatic Supply and Demand”. shtcoinr has hopefully exhibited to the TradingView community that one can derive S/R areas with almost anything. Another regular who’s recently released a few scripts that render S/R is RafaelZioni . This week he published his “Hull channel”, which is a creative use of the Hull MA and ATR. Like many of his past scripts, there’s a trove of helpful information buried deep in the code of his work, so don’t hesitate to get your fingers dirty. You’ll likely learn some very helpful things. Nice to Meet You Let’s go over some new faces this week, many of whom have brought something genuinely new to the TradingView community. When I say new faces, I mean new to the series of articles, as many of you are likely very familiar with the psychedelic and, at times, enigmatic work of simpelyfe . This week he released two highly creative, open-source scripts that can have a number of applications; his “Randomization Algorithm ” (which returns a number between 1 - 10 and is a nice alternative to RicardoSantos’s “Function Pseudo Random Generator”) and his “Pivots High/Low ” (with a bit of tinkering this might have an application in automatically painting trendlines). It’s great to see how he does some of his wonderful work and I’ll definitely be following him closely in the future with the hopes of improving my own work. westikon’s “Time Volume Accum” is (as far as I know) another new indicator to the TradingView community. Unfortunately the very short description is in Russian (I think) and I’m not too sure in what capacity this is supposed to be used, but I’m always looking to get new perspectives on volume and I’ll be studying this idea to do just that. RyanPhang , also partial to speaking a language I don’t understand, has created , which roughly translates to “Volume drives ups and downs”. Again, not too sure what ideas or systems this pertains to, but (for me anyway) it’s, again, a new way of looking at something old. Another volume indicator with the bunch is “Better X-Trend / Volume”, published by rimko . This is an iteration of emini-watch’s Better Volume indicator, which is available for purchase through his website. Due to the fact the TradingView doesn’t allow one to glean tick volume, this is as much fidelity rimko can show to the original as possible. Hopefully this will change in the future. mwlang published “John Ehlers Universal Oscillator ” this week. The purpose of this release was to fix “a degrees to radians bug in LazyBear’s version” of the indicator, something I’m sure Ehlers’ fans will be thankful for. Call Security One of the benefits of using TradingView is having access to a wealth of data, but being allowed access to it is not the same as knowing how to get access to it, and even further from getting the most out of it. kishin’s “Mining Cash Flow Line” takes data from Quandl, does some mathemagic and spits out the price that it costs to mine Bitcoin. Knowing how to utilise this kind of data in the future will likely help to seperate the men from the boys, so it’s important we come to understand and learn how to apply it as a community in order to keep our head above water. kishin’s script leads the open-source foray into this unchartered TradingView territory. Another user that’s made some great use out of Quandl data is deckchairtrader . This week they published “Deckchair Trader COT Index”, “Deckchair Trader COT MACD” and “Deckchair Trader COT Open Interest”. As it was in the paragraph above, this isn’t simply a matter of relaying the raw data from Quandl, but requires running it through a couple functions to get the final result. This is also one of the few scripts that performs fundamental analysis on TradingView. Do you know what the maximum amount of securities you can call is? It’s 40. Just ask danarm , who’s “Aggregate RSI”, “TDI on Top 40 Coins” and “Top 5 coins cummulated Upvol/Dnvol and Money Flow” (r/increasinglyverbose) call on many securities. Each one can give good insight into the market breadth of any give move and each one invites the user to consider ways they might use the security() function. At It Again No doubt you know who I’ll be focusing on this week and regular readers are probably wondering, “where is he?”. But before I start (it’s dasanc by the way), let me say this: since the start of this month to the date-of-writing (27/02/2019) dasanc has published 20 open-source indicators, with (as far as I can count) fifteen of them being completely unique. Most of them are the work of the highly-renowned technical analyst John Ehlers, someone who many, if not all, algo traders are aware of. With four new open-source scripts under his belt from the past week, two of them unique, I feel justified in more thoroughly looking at dasanc’s work. First off we’ll look at the “Bitcoin Liquid Index”. This is a script calling from the tickers that compose the BNC Index. If you’re a TradingView user that doesn’t have a PRO account, but that does want a “fair” price for BTC, this script can help you achieve exactly that. They’re not the exact same, but they’re very close (as the below screenshot shows). The “Stochastic Center of Gravity” is dasanc’s stochastic translation of of Ehlers CG indicator. On the page for the indicator he’s provided a link to the paper that discusses it. As dasanc mentions, it’s reliability as a trading indicator is a kind of questionable that TradingView’s backtester doesn’t have the resources to answer. It doesn’t fit BTC on the daily, as you can see below (green line = buy, red line = sell). “Fisher Stochastic Center of Gravity” simply runs the “Stochastic Center of Gravity” through a fisher transform, the result of which are smooth, filtered signals.. (As a sidenote, transforming data through a fisher transform, or some other transform, is applicable to many different indicators.) To use the “Fisher Stochastic Center of Gravity” dasanc suggests first defining the direction of the trend. How do we do that? Luckily he’s provided an open-source method for us to do that called the “Instantaneous Trend”. (By the way, if someone says iTrend to you, they’re not talking about trading software released by Apple, they’re talking about the Instantaneous Trend by John Ehlers). The iTrend is a “low-lag trend follower for higher timeframes”. Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open. Profile’s of Mentioned MichelT: www.tradingview.com Libertus: www.tradingview.com jaggedsoft: www.tradingview.com everget: www.tradingview.com puppytherapy: www.tradingview.com nickbarcomb: www.tradingview.com shtcoinr: www.tradingview.com RafaelZioni: www.tradingview.com simpelyfe: www.tradingview.com RicardoSantos: www.tradingview.com westikon: www.tradingview.com RyanPhang: www.tradingview.com rimko: www.tradingview.com kishin: www.tradingview.com deckchairtrader: www.tradingview.com danarm: www.tradingview.com mwlang: www.tradingview.com LazyBear: www.tradingview.com dasanc: www.tradingview.com
NASDAQ:AAPLEducation
by chrysopoetics
6
Week in Review: Chipper CodersFirst Off If you enjoy these weekly publications and would like to keep up-to-date with the latest and greatest scripts, share this article and follow me on TradingView. *sigh* The TradingView community has been, unfortunately for me, very busy this week publishing useful indicators. Due to this, it wouldn’t be right to just glaze over everyone, so this week will be a little extended, taking a slightly deeper look at some of the work published and by who it’s published. I’ll still focus in on the coder that has, in my opinion, done the highest quality work. That aside, there’s no order. Water, Water, All Around... Someone (or some people) that’s no stranger to TradingView is BacktestRookies , who’s articles on their website have helped many budding Pine scripters. This week they published an indicator called “Volume Profile:Intra-bar Volume”. Through a function to loop, it looks at the close of lower timeframes and stores the volume as buying volume if the lower timeframe candle closed up, or selling volume if it closed down. This is as close as we can get to identifying volume flow imbalances without order flow data, but it’s not quite there (through no fault of its own). One issue I noticed was that during the current chart’s period the volume bars will stop updating volume and will only render it properly when current chart’s period finishes. This makes it difficult to use it within a trading system (as far as I can see) Sticking with volume, mjslabosz has created “Volume+ (RVOL/Alerts)”, which is a relative volume indicator. Relatively simple, but highly applicable in volume studies. mjslabosz has also allowed the user to select what criteria needs to be met for the volume bars to be highlighted. No doubt this will be a useful addition to many people’s ideas. Spiralman666’s “ETH HawkEye Aggregated Volume Indicator” takes NeoButane’s “Aggregated ETH Exchange Volume” and combines it with LazyBear’s “HawkEye Volume Clone Indicator”. This will give you an in-depth yet holistic overview of Ethereum’s volume. The concept can be extrapolated to other assets for volume analysis strategies. … And Not A Drop To Drink One issue I have with many reversal identification scripts is that they identify the conditions for a reversal as an instance as opposed to a zone or area. LonesomeTheBlues “Divergences for many indicators V2.0” attempts to rectify this by plotting reversal conditions as a line from one point to another, thereby giving you a zone/area from within which to take reversal trades should other conditions be met. The user has the option to choose from a range of indicators with which to identify reversals. Lines In The Sky Another familiar face to TradingView, and someone who constantly brings something new to the community, is alexgrover . This week he published a “Light LSMA” script. Rather than try and rehash the brilliant explanation he gave on it’s construction, I encourage you to visit his profile and view the trove of high-quality work he’s provided. Peter_O’s “EMA NoHesi - cutting noise in EMA and any other data signals” (rolls of the tongue, eh?) is a function to remove noise from indicators that use lines, like MA’s, RSI, MACD etc. The function will guide the line in the same direction unless there is a significant change is the price. The script could be improved to automatically calculate the hesitation value based off what asset you’re trading, but that doesn’t take much away from it. The “Multi Timeframe Rolling BitMEX Liquidation Levels” by cubantobacco allows users to gain insight into where a lot of liquidation may lie for BitMEX and where price may have to go to keep cascading in that direction. Combining this with some kind of sentiment index for Bitcoin can give great insight into what levels will cause huge reactions. In general the TradingView community can’t seem to get enough of tools for trading on BitMEX, so I’m sure this will see use. Last of the lines, shtcoinr’s “The Center”, which was inspired by half a sentence from Adam H. Grimes, takes the high and low of the higher timeframe, divides it by half and then plots the halfway line. The result is a line that hints at the prevailing trend, can act as a momentum indication (by measuring the distance of the line from the price) and acts as a line of support and resistance. Busy Bees Two people were very active in producing high-quality work this week. The first I’ll mention is RafaelZioni (who’s been included in the previous two articles). He’s published five scripts this week, with one of them being a simple “5 min volume scalper” with alertconditions() that buy and sell based off volume activity. Another script with alertconditions() for buying and selling is his “Keltner Channel signals”, which is just an alteration of puppytherapys “Keltner Channel - APEX”. It also includes support and resistance levels. “linear regression new” and “BollingerRS” apply the same concept, with “linear regression new” being an attempt to render a linear regression channel (something that TradingView should really provide for us, along with the volume profile formula). Last but not least is RafaelZioni’s “Linear regression slope as SAR”, which is a creative alteration to the standard PSAR. The other busy bee this week was xkavalis , who published three interesting scripts. The first was “Dynamic Price Channels”, which divides the price action into equal channels. When I first seen it I thought that maybe it could be a component for a volume profile overlay (combined with some other features). The “Manual Backtest Lines” can be used within another indicator for replaying price action and results. (He’s actually looking for a fix for a couple of issues, so if you think you can help him out, shoot him a message). “ATR SL Visualization (on chart)” plots appropriate stoplosses and take-profits for each bar (should you enter a trade on that bar) automatically and is, yet again, another script that would be a useful component within a strategy. Expect More of the Same The user I’ll be focusing on this week is dasanc , someone who’s been focused on in the past. It’s difficult not to shine the spotlight on him when he’s pumping out truly empowering ideas. Last week dasanc published “Decent Martingale Strategy ”, which was inspired from a script with a similar name by RicardoSantos . Although it’s not ready for use in trading, it gives good insight into how to code strategies (although until TradingView’s backtester is suped up a little, backtesting doesn’t really mean anything in most cases, so don’t get too excited at those results) The “Signal to Noise Ratio [SNR}” by dasanc gives traders confidence that the signal being fired isn’t just a stray note in a noisy market, but a meaningful one. Keeping with Ehlers, dasanc has also published the “MESA Adaptive Moving Average”, which, rather than being a copy of the indicator, is, as dasanc puts it, a translation. His iteration seems to signal a period earlier than other versions without introducing any lag, due to how it’s calculated. Following from the “Interquartile IFM” and the “Cosine IFM”, we now have the last of Ehlers IFM bunch, the “Robust Cycle Measurement”. This is similar to it’s cousins in that it outputs an adaptive period, but the output of this script is usually higher than it’s two cousins. I’ll definitely be including it in some of my future creations. Last but certainly not least is dasanc’s “Multi-Instantaneous Frequency Measurement”, which is a script combining all three of the IFM’s that have been published, as well as the Hilbert Transform. Quick Mention I would just like to give nilux a shout-out for turning more than a handful of studies into their strategy counterparts. A lot of people seem to have trouble wielding the power of strategies and I’m sure many would learn something from studying his. Also, look at this almost-2000 line script that shtcoinr called “... longer than the bible”: Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open. Profile’s of Mentioned Dasanc: www.tradingview.com RafaelZioni: www.tradingview.com xkavalis: www.tradingview.com nilux: www.tradingview.com Spriralman666: www.tradingview.com shtcoinr: www.tradingview.com BacktestRookies: www.tradingview.com alexgrover: www.tradingview.com Peter_O: www.tradingview.com TheViciousVB: www.tradingview.com cubantobacco: www.tradingview.com LonesomeTheBlue: www.tradingview.com mjslabosz: www.tradingview.com
BITFINEX:BTCUSDEducation
by chrysopoetics
8
Week in Review: Hidden GemHonorable Mentions Some very nice work has been done this week again by the Pine community. Shout out to Covax for publishing an attractive "Bitfinex Sentiment Index", beautifully rendering longs and shorts with some creative code; mortdiggidy's "Fisher Transform MTF" includes a unique function for the MTF Fisher, which, if I'm reading it right, solves the upper timeframe repainting that's oft associated with studies; and "Relative Derivative" by byteboi is a simple modification of the RoC that's comparable across assets and smoothed with an SMA. Dr. Do-a-lot A scripter that some, but not enough, users of TradingView will be familiar with is RafaelZioni. He's been a user for ten months and in that time he's amassed a huge library. RafaelZioni's strengths can be seen in the details of his work and as such his broader body of work may go underappreciated, but it's worth venturing deep into some of his work if you want to learn tricks-of-the-trade. His most recent work, and the script that will be highlighted this week, is "zigzag%". Zig-Zags in the Bag A very famous and useful scripter by the name of RicardoSantos has published a slew of scripts for realising zig-zags on the chart, so what make this one special? Well, for a start (and as far as I can tell), the zig-zag paints in real-time and with no lag. It can also use upper timeframe data with (as per description) no repaint. But that's not where the value lies in this script. A problem with Pine is that we can't realise some strategy functions in studies. TradingView doesn't accommodate for this and we need to think out of the box in order to achieve fidelity. So if you look carefully in this script you'll see that RafaelZioni has done just that. We can set the backtest date, set the take-profit levels, stop-loss levels and more. For anyone who's trying to turn their strategies into studies so that they can get alerts for each action, look here for some great insight. The script is actually an implementation of a trading strategy too. Here's an example of some results you can get. What Else is in the Bag? It's a jungle out there, but there's treasure deep in the dark. I advise everyone to get down and dirty with RafaelZioni's scripts. There's a very RicardoSantos-feel from his ideas and I expect that they're only going to get more creative in the future. His "Bollinger ratio" was included in the honorable mentions list last week and is a creative way of merging Bollinger Bands with the MACD. The eloquently named "net volume of positive and negative volume buy and sell alert" is also a fantastic way to view volume, and it comes with buy and sell alerts. Want to learn? If you'd like the opportunity to learn Pine but you have difficulty finding resources to guide you, take a look at this rudimentary list: docs.google.com The list will be updated in the future as more people share the resources that have helped, or continue to help, them. Follow me on Twitter to keep up-to-date with the growing list of resources. Suggestions or Questions? Don't even kinda hesitate to forward them to me. My (metaphorical) door is always open. Honorable Mentions RafaelZioni: www.tradingview.com Covax: www.tradingview.com mortdiggidy: www.tradingview.com byteboi: www.tradingview.com
FX_IDC:XAUUSDEducation
by chrysopoetics
5