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New Closing High with MA FilterThis script is aimed to emulate the trading system of the Peter Castle – Trader as outlined in his web site: easysharetradingsystems.com.au and his book, “ Mindful Trading using Winning Probability”. He is also author of the book, “The Zen Trader: How Ancient Wisdom Can Help You Master Your Mind and the Markets” and is available in other languages. In essence, you buy on a NEW CLOSING HIGH of the lookback period with default 52 weeks and with the price above the default 5 and 12 EMA. That is, the new closing high is not a rolling closing high where each day sees a new higher close. It is not using the high price either. Sell when the short-term moving average (default 5 EMA) crosses down below the long-term moving average (default 12 EMA). The script allows the use of days instead of weeks (Castle System) lookback and for the use of various types of moving averages (default ema in Castle system) so that backtesting the strategy with optional inputs will allow for optimisation. The strategy is useful in buying on the first bar after a pullback. BUY: Price is making a NEW CLOSING HIGH over the lookback period, and the price is above the short and long moving averages (if selected). SELL: Short moving average crosses down below the long moving average.
Pine Script® strategy
by Katandra
Bitcoin Macro Trend IndicatorBitcoin Macro Trend Indicator: A Multi-Timeframe Confirmation System for Strategic Positioning Introduction The Bitcoin Macro Trend Indicator is a comprehensive technical analysis tool designed for cryptocurrency traders and investors seeking to navigate Bitcoin's volatile cycles. It integrates multiple exponential moving averages (EMAs) and MACD variations into a unified system that identifies long-term accumulation zones, bull market tops, and strategic re-entry points. This document outlines the logical foundation of this integration, explains the synergistic operation of its components, and provides practical guidance for its application. Rationale for Multi-Indicator Integration Bitcoin's market behavior exhibits distinct cyclical patterns characterized by extended accumulation periods, parabolic advances, and sharp corrections. Single indicators often generate false signals during volatile conditions. This system employs a layered confirmation approach where: Ultra-long-term EMAs establish the primary trend context Medium-term EMA crossovers identify trend transitions Multiple MACD configurations detect momentum shifts across different time horizons This multi-timeframe methodology reduces noise and increases signal reliability by requiring convergence across independent but complementary technical elements. Component Synergy and Operational Mechanism 1. EMA Framework: The Trend Foundation 700-period EMA: Serves as the primary trend baseline. Prices below this line suggest long-term undervaluation (accumulation territory), while sustained positions above indicate established bull markets. 18/63-period EMA Pair: Functions as the core trend transition system. The golden cross (18 above 63) confirms bullish momentum, while the death cross signals potential trend exhaustion. 12/52-period EMA Pair: Specialized for identifying renewed momentum after corrections within ongoing trends, reducing premature re-entry during false recoveries. 12-period EMA (Auxiliary): Provides early warning of short-term trend deterioration that may precede larger corrections. 2. MACD Ensemble: Momentum Verification Bottom MACD (168/364/6): With exceptionally slow parameters, this configuration filters out short-term noise to identify genuine long-term momentum shifts characteristic of market bottoms. Top MACD (63/133/1): Optimized for detecting momentum divergence at potential market tops, where traditional MACD settings often lag. Local Top Warning MACD (30/65/4): Balanced to capture intermediate-term momentum deterioration that frequently precedes significant pullbacks. Early Bull MACD (9/19/6): Sensitive to initial momentum surges following accumulation periods, providing early confirmation of trend initiation. 3. Signal Hierarchy and Progressive Confirmation The indicator employs a cascading confirmation logic: Stage 1 (Accumulation): Requires both long-term MACD improvement AND price position below the 700-period EMA. Strong accumulation signals add Early Bull MACD confirmation. Stage 2 (Warning): Local top warnings activate only when multiple conditions align: medium-term trend remains bullish, ultra-long-term trend confirms strength, AND specialized MACDs show momentum deterioration. Stage 3 (Re-entry): Requires both EMA crossover confirmation AND momentum recovery in the warning MACD, reducing false continuation signals. Stage 4 (Top Confirmation): The most stringent criteria, demanding convergence across long-term, medium-term, and momentum indicators before signaling major trend reversal. Practical Application and Interpretation Signal Classification System Accumulation Zones (Green): Areas where long-term indicators suggest undervaluation. These represent strategic buying opportunities for patient investors. Strong Accumulation Signals (Dark Green): Enhanced accumulation zones with additional momentum confirmation, suggesting higher-probability entry points. Local Top Warnings (Orange/Red): Progressive warnings of increasing risk, with red zones indicating conditions historically associated with more severe corrections. Re-entry Opportunities (Blue): Post-correction zones where momentum recovery aligns with trend resumption signals. Bull Market Termination (Purple): Signals suggesting completion of major advance cycles, prompting defensive positioning. Top Confirmation (Dark Red): High-confidence reversal signals with multi-timeframe confirmation. Usage Guidelines Timeframe Recommendation: Designed primarily for daily and weekly charts where macroeconomic trends are most evident. Position Sizing: Accumulation signals support gradual position building, while warning signals suggest reducing exposure rather than immediate liquidation. Corroboration: Although self-contained, the indicator performs best when combined with volume analysis and fundamental considerations. Historical Validation: Users should review signal performance across multiple market cycles to understand characteristic behaviors. Limitations and Considerations No technical indicator predicts market movements with absolute certainty. This tool provides probabilistic assessments based on historical patterns. Extraordinary market events or fundamental shifts may override technical signals. The indicator's parameters, while optimized for Bitcoin's historical behavior, may require adjustment for unprecedented market conditions. Signals should be interpreted in context of overall market structure and trader/investor time horizon. Originality and Differentiation This system represents a novel synthesis of established technical concepts through: Parameter Optimization: Specific EMA and MACD periods calibrated to Bitcoin's characteristic volatility and cycle duration. Conditional Layering: Unlike single-criterion systems, signals require convergence across independent technical dimensions. Progressive Warning System: Multi-stage alerts that distinguish between routine corrections and potential trend reversals. Macro-Micro Integration: Simultaneous analysis of ultra-long-term trends and short-term momentum shifts. Empirical Foundation The indicator's design incorporates observations from Bitcoin's market behavior since 2010, particularly: The tendency for major bottoms to form during extended periods below long-term moving averages Characteristic momentum patterns preceding significant tops The predictive value of specific EMA relationships during different market phases Historical performance of multi-timeframe confirmation versus single indicators Conclusion The Bitcoin Macro Trend Indicator provides a structured framework for identifying high-probability turning points in Bitcoin's market cycles. By integrating multiple technical perspectives into a confirmation hierarchy, it reduces reaction to market noise while maintaining sensitivity to genuine trend changes. Users should employ this tool as part of a comprehensive trading plan that includes risk management protocols and consideration of external market factors. The system's greatest utility emerges when understood not as a predictive oracle but as a systematic method for identifying favorable risk-reward scenarios based on multi-timeframe technical convergence.
Pine Script® indicator
by neeson1987
Triple SMMA 11-21Is Script ki Khoobiyan: Custom Inputs: Aap indicator ki settings mein jaakar 11 aur 21 ki jagah koi bhi number daal sakte hain bina code chhede. Visual Crossover: Jab 11-period SMMA (Blue) 21-period SMMA (Red) ko upar ki taraf cross karega, to chart par ek Green Triangle dikhega. Smoothing: SMMA normal Moving Average se zyada "smooth" hota hai, isliye ye noise ko kam karta hai. Fixed Timeframe SMMA: Isme Orange rang ki ek moti line (linewidth 3) dikhegi. Ye hamesha 15 minute ka SMMA 21 calculate karegi. Visual Clarity: * Blue: SMMA 11 (Aapke current chart ka) Red: SMMA 21 (Aapke current chart ka) Orange (Moti Line): SMMA 21 (Sirf 15-Minute chart ka) Ek Zaruri Baat: Jab aap 15-minute se bade timeframe par honge (jaise 1-hour ya Daily), toh 15-min ki line thodi "zigzag" ya seedhi dikh sakti hai kyunki bade timeframe ke ek candle mein 15-min ki kai candles hoti hain. Ye bilkul normal hai.
Pine Script® indicator
by Shivaji_Tiwari
Fear Greed RangesFear Greed Ranges Indicator: A Practical Guide to Market Sentiment Analysis Introduction: Understanding Market Psychology The "Fear Greed Ranges" indicator is a specialized technical analysis tool designed to visualize market sentiment through the lens of the Relative Strength Index (RSI). Unlike traditional RSI displays that show only a line graph, this indicator transforms raw RSI data into intuitive, color-coded zones that immediately signal whether markets are driven by fear, greed, or balanced sentiment. By providing this visual context, it helps traders identify potential turning points and manage risk more effectively. Rational Integration: Why RSI Forms the Core The indicator's foundation rests on the well-established RSI oscillator, chosen for several compelling reasons. First, RSI has stood the test of time since its development by J. Welles Wilder Jr. in 1978, with decades of empirical validation across various asset classes. Second, its mathematical construction—comparing the magnitude of recent gains to recent losses—directly measures momentum, which often precedes price reversals at extremes. Third, RSI's bounded nature (0-100 range) makes it ideal for creating clearly defined zones without subjective interpretation. The integration transforms this numerical oscillator into a spatial visualization system. Rather than simply reading RSI values, traders can immediately perceive market conditions through color psychology: red triggers caution, green suggests opportunity, and yellow indicates neutrality. This multi-sensory approach reduces cognitive load during fast-moving markets and helps overcome confirmation bias that might occur when interpreting raw numbers. Component Synergy: How the System Works Together The indicator comprises three interconnected layers that create a unified analytical framework: Core Calculation Layer: The traditional RSI calculation processes price data using the specified period length (default 14 periods). This generates the fundamental sentiment metric that drives all subsequent visualizations. The RSI calculation serves as the "brain" of the indicator, continuously analyzing market momentum. Sentiment Classification Layer: This layer applies threshold logic to categorize each RSI reading into one of three emotional states. Readings above 70 are classified as "Greed" (market potentially overbought), below 30 as "Fear" (market potentially oversold), and between 30-70 as "Neutral" (balanced market conditions). These thresholds are based on the conventional RSI interpretation framework that has been widely adopted in technical analysis. Visual Translation Layer: The most innovative aspect transforms numerical classifications into immediate visual cues. The colored ribbon area creates a "sentiment atmosphere" around price action, while the background tint provides subtle contextual framing. Horizontal reference lines at 30, 50, and 70 offer precise anchoring points, and the floating label provides real-time status updates. These elements work in concert: the ribbon shows sentiment intensity, the background provides persistent context, and the reference lines offer precise measurement points. Practical Application: How to Use the Indicator Effectively For optimal results, traders should incorporate this tool into a comprehensive analysis framework: Initial Setup: Apply the indicator to any financial chart (stocks, forex, cryptocurrencies, etc.) using the default 14-period setting for general purposes. For shorter timeframes, consider reducing the period to 10; for longer-term analysis, increase to 20-25 periods. Signal Interpretation: When the ribbon turns red and the background tints crimson, exercise caution with new long positions and consider profit-taking on existing holdings. Green zones may indicate accumulation opportunities, particularly if accompanied by bullish divergence (price making lower lows while RSI makes higher lows). Yellow areas suggest normal market fluctuation where trend-following strategies may be more appropriate than reversal anticipation. Confirmation Protocol: Always wait for additional confirmation before acting on extreme readings. For greed zone signals, look for bearish candlestick patterns, resistance at key price levels, or decreasing volume. For fear zone signals, watch for bullish reversal patterns, support levels holding, or increasing volume on down moves. Timeframe Harmony: Analyze multiple timeframes simultaneously. A greed signal on a daily chart carries more weight than one on a 15-minute chart. Look for alignment across timeframes for higher-probability setups. Alert Utilization: Enable the built-in alert system to receive notifications when sentiment zones change, ensuring you never miss potential opportunities or risk scenarios. Original Contribution: What Sets This Indicator Apart While RSI indicators are ubiquitous, the "Fear Greed Ranges" implementation offers several distinctive advantages: Cognitive Efficiency: By converting numerical data into immediate visual perception, the indicator reduces the mental processing required to assess market conditions. Traders can glance at a chart and instantly understand the sentiment landscape without calculating or interpreting raw values. Contextual Persistence: The colored background maintains a subtle but constant reminder of the prevailing sentiment, preventing the common pitfall of overlooking extreme conditions that might develop gradually. Dual-Layer Communication: The system operates on both conscious (reference lines, labels) and subconscious (color psychology) levels, engaging multiple cognitive pathways for more reliable signal recognition. Integrated Risk Framework: By explicitly naming emotional extremes ("Fear" and "Greed"), the indicator constantly reminds traders of the psychological forces driving markets, encouraging more disciplined decision-making. Important Considerations and Limitations No technical indicator guarantees future performance, and this tool should form only one component of a comprehensive trading strategy. Several critical factors require attention: Market Context Matters: During strong trending markets, RSI can remain in extreme zones for extended periods without immediate reversal. In such conditions, the indicator signals strength rather than imminent reversal. Volatility Adjustments: Highly volatile instruments may generate frequent zone changes that could lead to overtrading if not filtered appropriately. Complementary Tools: This indicator works best when combined with price action analysis, volume studies, support/resistance levels, and fundamental factors where applicable. Personal Adaptation: Traders should backtest the indicator on their preferred markets and timeframes to understand its characteristics before live implementation, potentially adjusting the RSI period or zone thresholds to match specific instrument behaviors. The "Fear Greed Ranges" indicator serves as a visual translator of market psychology, converting mathematical momentum readings into intuitive emotional landscapes. By making RSI interpretation more immediate and accessible, it helps traders maintain objectivity during emotionally charged market conditions and supports more disciplined execution of their trading strategies. Remember that successful trading involves risk management, continuous learning, and adapting tools to your individual approach—this indicator provides one lens through which to view the markets, not a complete trading system in itself.
Pine Script® indicator
by neeson1987
Ultimate Trend Dashboard [Multi-Timeframe]This is a Universal Market Scanner designed for Crypto, Forex, and Metals (Gold/Silver). Instead of checking multiple charts one by one, this dashboard monitors 4 different timeframes instantly from a single screen. ### 🧠 How It Works ( The Logic) The system uses a "Double Confirmation" strategy to determine the true trend direction: 1. Supertrend: Checks if the momentum is Bullish or Bearish. 2. EMA 200 Filter: Checks if the price is above or below the 200-period Exponential Moving Average (The most important long-term trend line). A signal is only generated if BOTH indicators agree. ### 📊 Dashboard Overview The panel on the screen scans the following timeframes (Adjustable in settings): * 15 Minutes (Scalping Trend) * 1 Hour (Intraday Trend) * 4 Hours (Swing Trend) * Daily (Major Trend) ### 🚦 How to Use (Step-by-Step) 1. Look at the "TOTAL" Row: The script calculates a score based on all timeframes. 2. STRONG BUY 🚀 (All Green): * Meaning: All timeframes (Short & Long term) are Bullish. * Action: Look for Long entries. Do not Short. 3. STRONG SELL 🔻 (All Red): * Meaning: All timeframes are Bearish. * Action: Look for Short entries. Do not Buy. 4. NEUTRAL ⚠️ (Mixed Colors): * Meaning: The market is confused (e.g., Daily is Bullish but 15min is Bearish). * Action: Wait. Do not force a trade until the trend aligns. ### ⚙️ Customization * You can change the Timeframes (e.g., set them to 5m, 15m, 1h, 4h) in the settings. * You can move the table position (Right, Left, Center) to fit your screen. * Works on ANY asset class (BTC, ETH, XAUUSD, EURUSD, Stocks).
Pine Script® indicator
by dokuyucuali006
Trading Cutoff TimerTrade Cutoff Timer — Discipline-First Session Control Trade Cutoff Timer is a simple execution-discipline indicator designed to enforce one of the most powerful trading rules: stop trading after your optimal window ends. The indicator visually marks a fixed cutoff time measured in minutes after the market open, helping you avoid late-session overtrading, FOMO entries, and degraded edge conditions. 🔹 What it does Draws a clear vertical cutoff line at X minutes after market open Optionally shades the background from market open until the cutoff Prevents “one more trade” behavior by making your rule visible on-chart Works on any intraday timeframe Does not affect chart scaling or price visibility 🔹 Key Features ⏱ Minute-based cutoff Define exactly how long after market open you are allowed to trade (e.g. 90 minutes). 🌍 Timezone-aware (UTC±) Select timezones using TradingView-style UTC offsets for consistent behavior across markets. 📅 Lookback control Limit how many historical days are marked to keep charts clean and focused. 🎨 Visual flexibility Enable or disable background shading, control how far it extends, and customize colors. 🧠 Discipline over signals No entries, no indicators, no bias — this tool enforces process, not predictions. 🔹 Who it’s for Day traders with a defined trading window Traders who perform best near market open Anyone working to improve consistency, patience, and rule-based execution Traders who want structure without clutter 🔹 Typical use cases “I only trade the first 90 minutes after NY open” “I stop trading once volatility degrades” “I want a visual reminder of my hard stop time” Trade less. Trade better. This indicator exists to support consistency — not to generate signals.
Pine Script® indicator
by DataWinsEmotionsLose
Smart Take ProfitThis script for EURUSD on the M3 timeframe detects Take Profit zones close to a reversal, automatically displays TP1, TP2, and Stop Loss, and follows the RSI + Bollinger Band + ATR logic. It triggers an exit signal when the price touches a Bollinger Band, when the RSI is in an extreme zone, or when there is a rejection candle. It automatically calculates the TP at 0.8 ATR, TP2 at 1.0 ATR, and the Stop Loss at 0.6 ATR. It operates on the EURUSD M3 timeframe. You decide the entry point. This indicator is not a trading strategy.
Pine Script® indicator
by rogernina
Triple RSI Multi-Timeframe (6 Levels)This indicator is a powerful momentum tracking tool designed to give you a bird's-eye view of market conditions by overlaying Three Relative Strength Index (RSI) lines from different timeframes onto a single pane. Key Features Multi-Timeframe Analysis: Monitor short-term, medium-term, and long-term momentum simultaneously. This helps identify "confluence," where different timeframes agree on a trend. Dynamic Data Table: Instead of generic labels, the on-screen table automatically displays the specific timeframe (e.g., 15m, 1H, 4H) and the current value for each RSI line. 6 Customizable Levels: Beyond the standard 70/30 levels, you can plot up to six independent horizontal lines. This is ideal for identifying "extreme" zones (80/20) or "neutral" zones (60/40). Visual Clarity: Each RSI line and its corresponding table data are color-coded, making it easy to distinguish between timeframes at a glance.
Pine Script® indicator
by deepak26101973
Multi-Timeframe Moving Average Tracker Tracks user-defined higher timeframe moving averages on a 1-min chart (maybe higher?). Useful to see where current price is in relation to a higher timeframe (e.g., 5-min, 1-hr) moving average like the 50 period. This allows the trader to determine size position risk based on personal rules (e.g., price below the 1-hr 40p EMA is high risk for lower price, so position size needs to be lightened, etc). The higher timeframe moving average is live and plotted on the lower chart as a line (user-defined type and color) with the timeframe and period noted. It will move as the period closes (i.e., 5-min period closes every 5 minutes, 1-hr period closes every 60 minutes, etc.).
Pine Script® indicator
by hu-wah
Iron Fly SPX 0DTE Strategy🦋 Iron Fly 0DTE Strategy A simple indicator that tells you when to open and close Iron Fly options trades on SPX. Get alerts, execute manually in your broker. What Does This Do? This indicator watches the market and sends you alerts: "OPEN" alert = Good time to sell an Iron Fly at this strike "CLOSE" alert = Time to close your position (take profit or cut loss) "EXPIRED" alert = End of day, let it expire or close manually You receive the exact strikes to trade. You execute in your broker. What is an Iron Fly? An Iron Fly is a bet that the price stays near a certain level until end of day. You collect money upfront (premium). If price stays close to your strike, you keep most of it. If price moves too far, you lose money (but your loss is capped). The Trade (4 legs): SELL a Call at the strike (collect premium) SELL a Put at the strike (collect premium) BUY a Call above for protection (costs premium) BUY a Put below for protection (costs premium) Net result: You collect premium. Max profit if price closes exactly at strike. Max loss is limited by your protective wings. For a detailed explanation with visuals, read: kriyafx.substack.com How to Use Step 1: Add to Chart Add indicator to SPX or SPY chart (1-5 minute timeframe recommended) Step 2: Set Up Alerts Create alert: Condition = "Iron Fly 0DTE" → "Any alert() function call" Step 3: Wait for OPEN Alert When you get an alert like this: 🦋 OPEN IRON FLY Strike: 6980 Wings: ±30 pts Sell 6980 Call Sell 6980 Put Buy 7010 Call Buy 6950 Put Step 4: Execute in Your Broker Open your options broker, find today's expiration (0DTE), and enter the 4-leg trade at the strikes shown. Check the premium you'll collect - make sure it's worth the risk. Step 5: Wait for CLOSE Alert The indicator monitors your position. When it's time to exit, you get: 🦋 CLOSE IRON FLY Strike: 6980 Reason: Price moved up past exit threshold Buy to Close 6980 Call Buy to Close 6980 Put Sell to Close 7010 Call Sell to Close 6950 Put Close your position in your broker. The Status Panel The box on your chart shows: Positions - How many flies are currently open Market - Is it a good time to trade? (GOOD/OK/RISKY/STOP) Wings - Current suggested wing width Exit @ - How far price can move before you should exit Trades - How many trades today vs your daily limit Settings Explained Entry Aggressiveness How often should new trades open? LOW = Fewer trades, more selective (beginner friendly) MID = Balanced (recommended) HIGH = More trades, more active (experienced) Exit Aggressiveness How long to hold before exiting? LOW = Exit early, smaller wins, protected (beginner friendly) MID = Balanced hold time (recommended) HIGH = Hold longer, bigger potential wins but more risk Max Concurrent Flies How many positions open at the same time? Start with 1-2. Max Trades Per Day Daily limit to prevent overtrading. Start with 5-10. When Does It Work Best? Sideways, choppy markets (price not trending hard) Normal volatility days (not FOMC, CPI, or earnings) US market hours (10 AM - 4 PM Eastern) When Does It NOT Work? Strong trending days (price keeps going one direction) High volatility events (news releases) When the indicator shows RISKY or STOP Important: Check Your Premium! The indicator tells you WHEN to trade and at WHAT strikes. It does NOT tell you the price. Before entering any trade: Check the premium in your broker Make sure the credit received is worth the max loss risk Consider bid-ask spreads (wider = harder to profit) If the premium looks bad, skip the trade Start Small Paper trade first to understand the signals Start with 1 fly at a time Use Entry LOW + Exit LOW when learning Only risk money you can afford to lose Risk Warning Options trading is risky. Iron Flies can lose money - your max loss is the wing width minus premium collected. This indicator gives signals, not guarantees. This is educational, not financial advice Past signals don't guarantee future results You can lose your entire premium Always know your max loss before entering Learn More Full strategy explanation with charts and examples: kriyafx.substack.com
Pine Script® indicator
by luiscaballero
Gold Weekly Top Warning System (5/10 EMA)Technical Analysis & Warning OutlookThe Extremity of Fibonacci Extensions: Gold prices have decisively pierced through the $4.236$ extension level ($4,768$), venturing into a "no-man's land" devoid of any historical price precedent. The Cost of Vertical Eruption: The chart exhibits a parabolic ascent with an upward slope approaching $90^\circ$. Historically, a slope of this magnitude has never occurred without a subsequent, significant mean-reversion or "pullback" phase. Early Warning Protocol: The system is currently monitoring the critical $5,150$ threshold.Final Confirmation: Should this week’s candle close below this level, multiple technical indicators will trigger simultaneously. This will issue the definitive "Terminal Warning," confirming that the market has topped out on apathy rather than euphoria.
Pine Script® indicator
by hexinliangdong
Dual Timeframe Direction RSI M5 M1 ribbonsDual Timeframe Direction RSI (M5 / M1) is a directional RSI ribbon designed to structure scalping decisions on low timeframes. It separates context (M5) from execution timing (M1), using RSI levels and slope to filter trades, avoid overextended markets, and improve entry discipline. This indicator does not generate signals — it defines when and in which direction trading is allowed. How to read the colored bars M5 ribbon (top) = market context Green → long bias allowed Blue → short bias allowed Orange → market overstretched, caution Grey → no clear direction M1 ribbon (bottom) = execution timing Green → timing zone valid Orange → preparation zone near RSI threshold Grey → no trade ➡️ Trade only when M5 defines the direction and M1 confirms the timing.
Pine Script® indicator
by boudou007
Tactical DeviationTactical Deviation - Multi-Timeframe VWAP Deviation Analysis OVERVIEW Tactical Deviation combines Volume-Weighted Average Price (VWAP) with statistical standard deviation analysis across multiple timeframes (daily, weekly, monthly) to identify potential mean reversion opportunities and extreme price conditions. WHAT MAKES THIS ORIGINAL This script provides a unified multi-timeframe VWAP deviation system that: - Calculates volume-weighted standard deviation (not simple price movements) - Simultaneously tracks deviation levels across daily, weekly, and monthly VWAPs - Offers dynamic volatility adjustment (ATR-based multiplier scaling) - Visualizes deviation zones with color-coded clouds (1σ-2σ, 2σ-3σ, 3σ+) - Integrates pivot detection, volume confirmation, and optional RSI filtering HOW IT WORKS The indicator calculates VWAP and standard deviation for each timeframe using volume-weighted statistics: 1. VWAP = Sum(Price × Volume) / Sum(Volume) for each period 2. Standard Deviation = √ 3. Creates ±1σ, ±2σ, and ±3σ bands around each VWAP 4. Tracks current price deviation in standard deviations from each VWAP Deviation levels: - Level 0: Within ±1σ (normal range) - Level 1: Between ±1σ and ±2σ (moderate deviation) - Level 2: Between ±2σ and ±3σ (significant deviation) - Level 3: Beyond ±3σ (extreme deviation) Optional dynamic multipliers adjust band width based on ATR volatility - wider bands in volatile markets, tighter in calm markets. HOW TO USE Basic Usage: - Enable desired VWAP timeframes (Daily/Weekly/Monthly) - Monitor the info table showing current deviation levels - Look for price reaching ±2σ or ±3σ zones (marked with ⚠️ and 🔥 icons) Visual Elements: - VWAP lines: Green (Daily), Purple (Weekly), White (Monthly) - Colored clouds: Show deviation zones (darker = more extreme) - Info table: Displays current deviation in standard deviations (σ) Trading Applications: Mean Reversion: Price reaching ±2σ/±3σ zones may indicate overextension. Look for reversal signals (pivot bounces, volume spikes) with VWAP as mean reversion target. Trend Analysis: Consistent price above/below VWAP with low deviation suggests trend strength. Extreme deviations may indicate trend exhaustion. Multi-Timeframe Confluence: Compare deviation levels across timeframes. Confluence of extremes on multiple VWAPs may indicate stronger setups. Signal System (Optional): Signals appear when price reaches extreme deviations (≥2σ) with optional confirmations: - Volume spike (1.5× average) - Pivot reversal (bounce off pivot low/high) - RSI filter (oversold/overbought) - Multi-VWAP confluence IMPORTANT: Signals are informational only. Always use proper risk management, stop losses, and confirm with your own analysis. Past performance does not guarantee future results. SETTINGS RECOMMENDATIONS Day Trading: Enable Daily VWAP, show ±1σ bands, use dynamic multipliers, enable pivot reversal. Swing Trading: Enable Daily + Weekly VWAPs, use confluence (2+ VWAPs), enable volume confirmation and RSI filter. Position Trading: Enable all three VWAPs, use confluence requirement, focus on ±2σ/±3σ zones, enable all filters. TECHNICAL DETAILS - VWAP resets at period start (midnight daily, Sunday weekly, 1st of month monthly) - Standard deviation uses volume-weighted statistics - Pivot detection: Configurable lookback (default 5 bars) - Volume analysis: Compares to SMA (default 20-period) - RSI: Standard 14-period calculation DISCLAIMER This indicator is a tool for analysis and should not be used as the sole basis for trading decisions. VWAP and standard deviation describe past price behavior. Market conditions change, and historical patterns may not repeat. No indicator can predict future movements with certainty. Always use proper risk management. Past performance does not guarantee future results. Educational purposes only.
Pine Script® indicator
by RickyTSpanish