Volume Profile (PRO) [ActiveQuants]The Volume Profile (PRO) indicator is an advanced analytical tool designed to provide traders with a deep understanding of market dynamics by displaying trading activity across different price levels over a specified period. By meticulously plotting volume distribution , this indicator helps identify significant price zones, such as areas of high acceptance ( High Volume Nodes - HVNs ), rejection ( Low Volume Nodes - LVNs ), Volume Peaks Clusters , Volume Troughs Clusters , the Point of Control (POC) , and the Value Area (VA) . This insight is crucial for spotting potential support/resistance levels, assessing market sentiment, and making more informed trading decisions.
This indicator operates on the principle that price levels with higher traded volume hold greater significance, often acting as pivotal points for future price movements. Conversely, areas with low volume typically indicate less agreement on price, leading to quicker price transitions. The Volume Profile (PRO) offers extensive customization to tailor the analysis to your specific needs and trading style.
█ KEY FEATURES
Comprehensive Volume Analysis: Visualize volume distribution horizontally, revealing key price levels based on actual traded volume.
Dynamic Profile Calculation: Uses a rolling lookback period to keep the profile relevant to recent price action.
Point of Control (POC): Automatically identifies and plots the price level with the highest traded volume within the profile period. Available as a "Regular" (fixed for the current profile) or "Developing" line that tracks its evolution bar-by-bar.
Value Area (VA): Highlights the price range where a specified percentage (typically 70%) of the total volume was traded. Also available as "Regular" or "Developing" VAH (Value Area High) and VAL (Value Area Low) lines.
High and Low Volume Nodes (HVNs & LVNs): Option to automatically detect and highlight a specified number of the highest volume concentration zones (HVNs) and lowest volume zones (LVNs) within the profile. These are crucial for identifying support/resistance and areas of potential quick price movement.
Volume Peaks and Troughs Detection: Identify statistically significant high-volume (Peaks) and low-volume (Troughs) rows relative to their neighbors, either as single rows or clusters. These can pinpoint precise levels of interest.
Multiple Volume Display Types: Choose to display volume as:
- Up/Down: Shows buying and selling volume side-by-side for each row.
- Total: Shows the aggregate volume for each row.
- Delta: Shows the difference between buying and selling volume for each row, highlighting imbalances.
Extensive Customization: Fine-tune lookback period, number of rows, profile width, horizontal placement, Value Area percentage, colors for all elements, and specific parameters for node/peak/trough detection.
Visual Enhancements:
- Optional gradient colors for volume bars.
- Display volume figures directly on rows.
- Background shading for the Value Area and the entire Profile range.
- Price labels for POC, VAH, VAL, Profile High, and Profile Low.
Integrated Alert System: Pre-built alert conditions for critical volume profile events. (See section on "█ SETTING UP ALERTS " for more details).
█ USER INPUTS
The settings panel is organized into distinct sections:
- Calculation Settings:
Lookback: Number of most recent bars for profile calculation.
Number of Rows: Resolution of the volume profile.
Profile Width: Relative horizontal length of the volume bars.
Horizontal Offset: Horizontal positioning of the profile.
Value Area (%): Percentage of volume to include in the Value Area.
Volume: Display type ("Up/Down", "Total", "Delta").
Profile Placement: "Right" or "Left" side of the chart.
- Appearance:
Volume Profile On/Off: Toggle visibility of the entire profile.
Rows Border Width & Color: Customize the outline of volume rows.
Gradient Colors: Enable/disable gradient coloring for volume bars.
Row Volume: Display numerical volume on each row.
VAH (Value Area High): Display type ("None", "Regular", "Developing"), Color, Price Label, Line Width.
VAL (Value Area Low): Display type ("None", "Regular", "Developing"), Color, Price Label, Line Width.
Profile High Price Label & Color: Toggle and customize.
Profile Low Price Label & Color: Toggle and customize.
Value Area Up/Down Color: Colors for up/down volume within VA.
Profile Up/Down Color: Colors for up/down volume outside VA.
Total Volume Color: For "Total" volume display type.
Delta Volume Positive/Negative Color: For "Delta" volume display type.
POC (Point of Control): Display type ("None", "Regular", "Developing"), Color, Line Width, Price Label.
Value Area Background & Color: Enable and customize VA background shading.
Profile Background & Color: Enable and customize profile range background shading.
Volume Nodes:
Highest Volume Nodes & Color: Number of HVNs to highlight and their color.
Lowest Volume Nodes & Color: Number of LVNs to highlight and their color.
Volume Peaks: Detection type ("None", "Single Row", "Cluster"), Color.
Compared Neighbors (Peaks): Number of neighboring rows to compare against for peak detection.
Minimum Peak Ratio (Peaks): Volume ratio required for a row to be considered a peak.
Volume Troughs: Detection type ("None", "Single Row", "Cluster"), Color.
Compared Neighbors (Troughs): Number of neighboring rows to compare against for trough detection.
Minimum Trough Ratio (Troughs): Volume ratio required for a row to be considered a trough.
█ SETTING UP ALERTS
The Volume Profile (PRO) indicator comes with a comprehensive set of pre-configured alert conditions to notify you of key market events related to volume structure. To set up an alert:
Click the " Alert " button (clock icon) on TradingView's right-hand toolbar or top panel.
In the " Condition " dropdown, select " Volume Profile (PRO) ".
A second dropdown will appear, allowing you to choose from the following specific alert conditions built into the script:
- POC Price Change: Triggers when the Point of Control price level changes.
- POC Crossover: Triggers when the closing price crosses over the POC line and is now above it.
- POC Crossunder: Triggers when the closing price crosses under the POC line and is now below it.
- Close Inside Value Area: Triggers when the closing price enters the Value Area.
- Close Outside Value Area: Triggers when the closing price exits the Value Area.
- Close Inside High Volume Node: Triggers when the closing price enters a detected High Volume Node.
- Close Inside Low Volume Node: Triggers when the closing price enters a detected Low Volume Node.
- Close Inside Volume Peak: Triggers when the closing price enters a detected Volume Peak row.
- Close Inside Volume Peak Cluster: Triggers when the closing price enters the area of a Volume Peak cluster.
- Close Inside Volume Trough: Triggers when the closing price enters a detected Volume Trough row.
- Close Inside Volume Trough Cluster: Triggers when the closing price enters the area of a Volume Trough cluster.
Choose your preferred " Trigger " option:
- " Only Once ": The alert triggers the first time the condition is met.
- " Once Per Bar Close ": ( Recommended for most profile signals ) The alert triggers only after the current bar closes if the condition was true on that closed bar. This ensures signals are based on confirmed price action.
Customize the alert name, message, and notification preferences.
Click " Create ".
█ STRATEGY EXAMPLES
The following examples are for illustrative purposes only to demonstrate how the Volume Profile (PRO) can be used. They are not financial advice. Always conduct thorough backtesting and research.
1. POC as Dynamic Support/Resistance
Goal: Identify potential bounces or rejections from the Point of Control.
Setup: Enable "POC Line" (Regular or Developing) and observe price interaction.
Entry (Long):
- Price approaches the POC from above and shows signs of holding (e.g., bullish candlestick patterns, deceleration).
- Enter on confirmation of support at the POC.
Entry (Short):
- Price approaches the POC from below and shows signs of rejection (e.g., bearish candlestick patterns).
- Enter on confirmation of resistance at the POC.
Management: Stop-loss beyond the recent swing pivot or the POC itself after a confirmed break. Target the next significant volume node (HVN/LVN) or Value Area boundary.
2. Trading Low Volume Nodes (LVNs) as "Vacuum Zones"
Goal: Capitalize on rapid price movement through LVNs and their potential to become support/resistance once traversed.
Setup: Enable "Lowest Volume Nodes" to identify LVNs.
Entry (Long):
- Price breaks decisively above an LVN.
- Look for a retest of the top of the LVN as support. Enter long on confirmation.
Entry (Short):
- Price breaks decisively below an LVN.
- Look for a retest of the bottom of the LVN as resistance. Enter short on confirmation.
Concept: Price is expected to move quickly through LVNs (volume vacuum). Once price has passed through an LVN, that area of prior low acceptance can act as a new support/resistance zone.
Management: Stop-loss beyond the retested LVN. Target the next HVN or significant price level.
█ CONCLUSION
The Volume Profile (PRO) indicator offers a sophisticated and highly customizable approach to volume analysis. By providing clear visualizations of POC, Value Area, HVNs, LVNs, and Volume Peaks/Troughs, along with integrated alerts and developing levels, this tool empowers traders to identify critical price zones, understand market structure, and develop more nuanced trading strategies. Whether you're looking for precise entry points, areas of support and resistance, or confirmation of market sentiment, this Volume Profile indicator is an invaluable addition to your technical analysis toolkit.
█ IMPORTANT NOTES
⚠ Lookback vs. Calculated Bars Relationship: The value set in the " Lookback " input ( Calculation Settings ) must be less than half of the number of bars the indicator is set to calculate on your chart (referred to as " Calculated bars " in the script, typically controlled by TradingView's historical data loading or a calc_bars_count setting within the script's indicator() declaration – in this script, it is 1200 bars by default). For example, if "Calculated bars" is 1200, your Lookback should be less than 600. The default Lookback of 500 respects this. Setting a Lookback too high relative to available calculated bars can lead to errors or incorrect profile rendering.
⚠ Parameter Optimization: The default settings are starting points. Always adjust indicator parameters (Lookback, Number of Rows, VA%, etc.) based on the specific asset, its volatility, and the timeframe you are trading. Thorough backtesting is crucial.
⚠ Context is Key: Volume Profile is powerful, but its signals are best interpreted within the broader market context (trend, news, other technical indicators).
⚠ Lookback vs. Profile Stability: A shorter lookback makes the profile very responsive to recent action but less stable. A longer lookback provides more stable levels but may lag in fast-moving markets.
⚠ Number of Rows: Higher row counts offer more granularity but can impact performance and may show too much noise. Lower row counts offer a broader view but may obscure finer details.
⚠ Alert Confirmation: Using " Once Per Bar Close " for alerts is generally recommended to ensure signals are based on confirmed price action.
█ RISK DISCLAIMER
Trading involves a substantial risk of loss and is not suitable for all investors. The Volume Profile (PRO) indicator is provided for educational and informational purposes only . It does NOT constitute financial advice or a recommendation to buy or sell any asset. Indicator signals identify potential patterns based on historical data but do not guarantee future price movements or profitability. Always conduct your own thorough research, utilize multiple sources of information, and implement robust risk management practices before making any trading decisions. Past performance is not indicative of future results.
📊 Happy trading! 🚀
Search in scripts for "Up down"
Liquidity Fair Value Bands | QuantumResearch 🔹 Liquidity Fair Value Bands | QuantumResearch
A Dynamic Liquidity-Based Fair Value Model Using Volume-Weighted Linear Regression and Deviation Bands
📘 Overview
The Liquidity Fair Value Bands is a specialized volatility and valuation indicator designed to help traders identify dynamic fair value zones based on liquidity-adjusted price behavior. Unlike standard deviation bands or traditional moving averages, this tool integrates volume-weighted linear regression to estimate a fair value baseline — a more accurate representation of price equilibrium under active market participation.
This script is not a simple mashup of existing indicators. It introduces a novel concept by fusing the following elements:
📊 Volume-Weighted Linear Regression (VWLR) to determine the fair value baseline
📈 Standard Deviation Bands layered around this baseline to visualize statistically significant deviations
🔄 Trend Signals derived from slope direction and baseline crossover
🎨 Gradient-Based Visual Modes for enhanced readability
🚨 Built-in Alerts for overbought/oversold and trend breakout conditions
🧠 Concept & Calculation
🟩 1. Fair Value Baseline (Core Innovation)
The baseline is calculated using a volume weighted linear regression.
This formula ensures that higher-volume periods influence the regression line more heavily, offering a liquidity-aware estimate of what the asset is “really worth” based on market consensus.
A positive slope indicates a growing fair value — bullish environment
A negative slope signals declining fair value — bearish environment
📏 2. Deviation Bands
Three layers of symmetric deviation bands are plotted above and below the baseline, each representing a multiple of standard deviation (1σ, 2σ, 3σ) over the same lookback period:
Upper Bands highlight statistically significant overvaluation
Lower Bands indicate undervaluation and potential reversion zones
These zones are visualized using translucent color fills to help traders instantly interpret risk/reward conditions.
🔄 3. Trend Detection
Optionally, the indicator displays up/down arrows when the price crosses the fair value baseline and a new trend is forming:
✅ Uptrend: Price crosses above baseline and baseline slope increases
🔻 Downtrend: Price drops below baseline and slope declines
These dynamic signals allow you to react to trend reversals early, rather than waiting for lagging confirmation.
🎯 How to Use
This tool excels in trend-trading, mean reversion, and liquidity-based fair value analysis.
✅ Buy Zones: Price enters lower bands (e.g. -1σ to -3σ) during lower fair value zone
❌ Sell Zones: Price enters upper bands (e.g. +1σ to +3σ) during higher fair value
🕵️♂️ Fair Value Confirmation: Flat baseline in consolidating markets helps avoid chop
📈 Trend Entry: Use baseline crossovers and band inflections to time entries
⚙️ Customization Features
🔧 Adjustable regression length and offset
🎨 Eight visual modes for light/dark themes
🔔 Optional alerts for significant band breaches (1σ, 2σ, 3σ)
🟡 Toggle individual band visibility (1st, 2nd, 3rd) for cleaner UI
⚡ Optional trend signal arrows
🧪 Interpretation Example
If the current price trades 2+ standard deviations above the liquidity-based fair value line, it likely indicates:
A short-term overbought market
Potential for mean reversion
Or signal that a strong trend breakout is underway (confirm with slope direction)
✅ Why It’s Unique
This is not just a Bollinger Bands variant — it is a liquidity-aware fair value model with enhanced statistical depth. The baseline adapts to both price and volume, unlike simple moving averages that assume equal importance across all candles.
It combines three important market principles:
🎯 Price Action
🏦 Liquidity Weighting
📊 Volatility Analysis
All in one clean and visually intuitive script.
📢 Disclaimer
This indicator is for educational purposes only and is not financial advice. Always use additional confluence and proper risk management in your trading.
Auto Support Resistance Channels [TradingFinder] Top/Down Signal🔵 Introduction
In technical analysis, a price channel is one of the most widely used tools for identifying and tracking price trends. A price channel consists of two parallel trendlines, typically drawn from swing highs (resistance) and swing lows (support). These lines define dynamic support and resistance zones and provide a clear framework for interpreting price fluctuations.
Drawing a channel on a price chart allows the analyst to more precisely identify entry points, exit levels, take-profit zones, and stop-loss areas based on how the price behaves within the boundaries of the channel.
Price channels in technical analysis are generally categorized into three types: upward channels with a positive slope, downward channels with a negative slope, and horizontal (range-bound) channels with near-zero slope. Each type offers unique insights into market behavior depending on the price structure and prevailing trend.
Structurally, channels can be formed using either minor or major pivot points. A major channel typically reflects a stronger, more reliable structure that appears on higher timeframes, whereas a minor channel often captures short-term fluctuations or corrective movements within a larger trend.
For instance, a major downward channel may indicate sustained selling pressure across the market, while a minor upward channel could represent a temporary pullback within a broader bearish trend.
The validity of a price channel depends on several factors, including the number of price touches on the channel lines, the symmetry and parallelism of the trendlines, the duration of price movement within the channel, and price behavior around the median line.
When a price channel is broken, it is generally expected that the price will move in the breakout direction by at least the width of the channel. This makes price channels especially useful in breakout analysis.
In the following sections, we will explore the different types of price channels, how to draw them accurately, the structural differences between minor and major channels, and key trade interpretations when price interacts with channel boundaries.
Up Channel :
Down Channel :
🔵 How to Use
A price channel is a practical tool in technical analysis for identifying areas of support, resistance, trend direction, and potential breakout zones. The structure consists of two parallel trendlines within which price fluctuates.
Traders use the relative position of price within the channel to make informed trading decisions. The two primary strategies include range-based trades (buying low, selling high) and breakout trades (entering when price exits the channel).
🟣 Up Channel
In an upward channel, price moves within a positively sloped range. The lower trendline acts as dynamic support, while the upper trendline serves as dynamic resistance. A common strategy involves buying near the lower support and taking profit or selling near the upper resistance.
If price breaks below the lower trendline with strong volume or a decisive candle, it can signal a potential trend reversal. Channels constructed from major pivots generally reflect dominant uptrends, while those based on minor pivots are often corrective structures within a broader bearish movement.
🟣 Down Channel
In a downward channel, price moves between two negatively sloped lines. The upper trendline functions as resistance, and the lower trendline as support. Ideal entry for short trades occurs near the upper boundary, especially when confirmed by bearish price action or a resistance level.
Exit targets are typically located near the lower support. If the upper boundary is broken to the upside, it may be an early sign of a bullish trend reversal. Like upward channels, a major down channel represents broader selling pressure, while a minor one may indicate a brief retracement in a bullish move.
🟣 Range Channel
A horizontal or range-bound channel is characterized by price oscillating between two nearly flat lines. This type of channel typically appears during sideways markets or periods of consolidation.
Traders often buy near the lower boundary and sell near the upper boundary to take advantage of contained volatility. However, fake breakouts are more frequent in range-bound structures, so it is important to wait for confirmation through candlestick signals and volume. A confirmed breakout beyond the channel boundaries can justify entering a trade in the direction of the breakout.
🔵 Settings
Pivot Period :This parameter defines how sensitive the channel detection is. A higher value causes the algorithm to identify major pivot points, resulting in broader and longer-term channels. Lower values focus on minor pivots and create tighter, short-term channels.
🔔 Alerts
Alert Configuration :
Enable or disable the full alert system
Set a custom alert name
Choose the alert frequency: every time, once per bar, or on bar close
Define the time zone for alert timestamps (e.g., UTC)
Channel Alert Types :
Each channel type (Major/Minor, Internal/External, Up/Down) supports two alert types :
Break Alert : Triggered when price breaks above or below the channel boundaries
React Alert : Triggered when price touches and reacts (bounces) off the channel boundary
🎨 Display Settings
For each of the eight channel types, you can customize:
Visibility : show or hide the channel
Auto-delete previous channels when new ones are drawn
Style : line color, thickness, type (solid, dashed, dotted), extension (right only, both sides)
🔵 Conclusion
The price channel is a foundational structure in technical analysis that enables traders to analyze price movement, identify dynamic support and resistance zones, and locate potential entry and exit points with greater precision.
When constructed properly using minor or major pivots, a price channel offers a consistent and intuitive framework for interpreting market behavior—often simpler and more visually clear than many other technical tools.
Understanding the differences between upward, downward, and range-bound channels—as well as recognizing the distinctions between minor and major structures—is critical for selecting the right trading strategy. Upward channels tend to generate buying opportunities, downward channels prioritize short setups, and horizontal channels provide setups for both mean-reversion and breakout trades.
Ultimately, the reliability of a price channel depends on various factors such as the number of touchpoints, the duration of the channel, the parallelism of the lines, and how the price reacts to the median line.
By taking these factors into account, an experienced analyst can effectively use price channels as a powerful tool for trend forecasting and precise trade execution. Although conceptually simple, successful application of price channels requires practice, pattern recognition, and the ability to filter out market noise.
Rev & Line - CoffeeKillerRev & Line - CoffeeKiller Indicator Guide
🔔 Warning: This Indicator Repaints 🔔 This indicator uses real-time calculations that may change based on future price action. As a result, signals (such as arrows, lines, or color changes) **can and will repaint** — meaning they may appear, disappear, or shift after a candle closes.
**Do not rely on this tool alone for live trading decisions.** Use with caution and always confirm with non-repainting tools or additional analysis.(This indicator is designed to show me the full length of the trend and because of this there can be a smaller movement inside of the trend movement)
Welcome traders! This guide will walk you through the Rev & Line indicator, a sophisticated technical analysis tool developed by CoffeeKiller that combines multiple methodologies to identify market pivots, trends, and potential reversal points.
Core Components
1. ZigZag Analysis
- Dynamic pivot detection using ATR (Average True Range)
- Customizable sensitivity through ATR Reversal Factor
- Color-coded trend lines (green for upward, red for downward)
- Optional vertical lines at pivot points
- Real-time pivot point analysis
2. Donchian Channel Integration
- Traditional upper, lower, and middle bands
- Customizable length and displacement
- Channel-based entry signals
- Dynamic market structure visualization
3. Marker Lines System
- Dynamic support/resistance level tracking
- Pivot-based reset mechanism
- Optional fill zones between markers
- Percentage position tracking within range
4. Signal Generation System
- Confluence between ZigZag pivots and Donchian channels
- Up/down arrow visualization
- Alert system
Main Features
ZigZag Settings
- ATR Reversal Factor: Controls pivot sensitivity (default 3.2)
- Customizable line appearance:
Width control (default: 3)
Color selection (green for uptrend, red for downtrend)
Vertical line options at pivot points
Maximum vertical lines display limit
- Hide repainted option for more reliable signals
Donchian Channel Configuration
- Optional channel visibility toggle
- Length parameter for lookback period (default: 20)
- Displace option for time offset
- Bubble offset for visual placement
Marker Lines System
- High/low/middle marker lines with step-line visualization
- Dotted line projections for future reference
- Pivot-based reset mechanism
- Color-coded percentage position display
Signal Generation
- Triangle markers for signals
- Combined ZigZag and Donchian confluence
- Alert system for notifications
Visual Elements
1. Pivot Lines
- Green: Upward price movements
- Red: Downward price movements
- Customizable line width
- Optional vertical pivot markers with style options:
Solid lines for confirmed pivots
Dashed lines for older pivots
Dotted lines for most recent pivots
2. Donchian Channels
- Upper band (red): Resistance level
- Lower band (green): Support level
- Middle band (yellow): Median price line
- Customizable display options
3. Marker Lines
- High marker line (magenta): Tracks highest open price
- Low marker line (cyan): Tracks lowest open price
- Middle marker line (blue): 50% level between high/low
- Dotted line extensions for future price projections
4. Position Tracking
- Percentage position display within marker range
- Real-time calculations from 0% to 100%
- Label system for visual reference
Trading Applications
1. Trend Following
- Enter on confirmed ZigZag pivot points
- Use Donchian channel boundaries as targets
- Trail stops using marker lines
- Monitor for confluence between systems
2. Counter-Trend Trading
- Trade bounces from marker lines
- Use pivot confirmation for entry timing
- Set stops based on recent pivot points
- Target the opposite marker line
3. Range Trading
- Use high/low marker lines to define range
- Trade bounces between upper and lower markers
- Consider middle marker for range midpoint
- Monitor percentage position within range
4. Breakout Trading
- Enter on breaks above/below marker lines
- Confirm with Donchian channel breakouts
- Use ZigZag pivot confirmations
- Wait for arrow signals for additional confirmation
Optimization Guide
1. ZigZag Parameters
- Higher ATR Factor: Less sensitive, major moves only
- Lower ATR Factor: More sensitive, catches minor moves
- Adjust line width for chart visibility
- Balance vertical line count for clarity
2. Donchian Channel Settings
- Longer length: Smoother channels, fewer false signals
- Shorter length: More responsive, but potentially noisier
- Displacement: Offset for historical reference
- Consider timeframe when setting parameters
3. Marker Line Configuration
- Enable/disable based on trading style
- Toggle middle line for additional reference
- Adjust colors for visual clarity
- Enable/disable labels as needed
4. Signal Generation
- Use "Hide repainted" option for more reliable signals
- Combine ZigZag and Donchian signals for confirmation
- Set alerts based on confirmed pivot points
- Balance sensitivity with reliability
Best Practices
1. Signal Confirmation
- Wait for confirmed pivot points
- Check for Donchian channel interactions
- Confirm with price action
- Look for arrow signals at pivot points
2. Risk Management
- Use recent pivot points for stop placement
- Consider marker line boundaries for targets
- Don't trade against strong trends
- Wait for clear confluence between systems
3. Setup Optimization
- Start with default settings
- Adjust based on timeframe
- Fine-tune ATR sensitivity
- Match settings to trading style
Advanced Features
1. Alert System
- Customizable arrow alerts
- Pivot point notifications
- Text message alerts with ticker information
- Once-per-bar frequency option
2. Pivot Detection Logic
The indicator uses a sophisticated state-based approach to detect pivots:
- State transitions between "uptrend," "downtrend," and "undefined"
- ATR-based reversal detection
- Minimum movement threshold for pivot confirmation
- Historical pivot tracking and labeling
3. Marker Line Reset Mechanism
- Marker lines reset based on pivot detection
- Dynamic support/resistance level adjustment
- Percentage position calculation within range
- Automatic updates as market structure changes
Remember:
- Combine multiple confirmation signals
- Use appropriate timeframe settings
- Monitor both ZigZag and Marker signals
- Pay attention to Donchian channel interactions
- Consider market volatility when trading
This indicator works best when:
- Used with proper risk management
- Combined with other technical tools
- Applied to appropriate timeframes
- Signals are confirmed by price action
**DISCLAIMER**: This indicator and its signals are intended solely for educational and informational purposes. They do not constitute financial advice. Trading involves significant risk of loss. Always conduct your own analysis and consult with financial professionals before making trading decisions.
Leverage Aware Trade OptimizerWelcome to the Leverage-Aware Trade Optimizer (LATO)! I’m thrilled to have you exploring this dynamic algorithm! LATO combines advanced market oscillation tracking, leverage-aware trade optimization, and real-time market analysis to help you make smarter, more informed trading decisions. Whether you're just starting or you’re an experienced trader, LATO provides powerful tools and insights to enhance your strategies. LATO is here to support you in optimizing your trades with precision, so feel free to dive in and explore all the features. Let’s make your trading experience as effective and rewarding as possible. Safe trading!
Leverage-Aware Trade Optimizer (LATO)
Short Title: LATO
Category: Trading Tools / Technical Analysis
Overview
The Leverage-Aware Trade Optimizer (LATO) is a powerful algorithm designed to track and analyze market oscillations, identify reversal zones, and provide dynamic trading levels for optimal decision-making. With built-in risk management features, LATO enhances traders’ ability to make well-informed decisions based on a comprehensive range of market indicators, including price oscillations, probabilities, and leverage-related risks.
Key Features
Comprehensive Market Oscillation Tracking: LATO utilizes advanced indicators such as the Indexed Position Oscillator (IPO), Candle Relative Percentage (CRP), and Oscillating Range Indicator (ORI) to track price fluctuations and detect key market oscillations, providing a detailed view of price movements.
Dynamic Price Levels for Trading Decisions: The script calculates critical price levels such as WAP, WBP, XAP, and XBP. These weighted and expanded prices help identify potential support and resistance zones for accurate trade entries and exits.
Reversal Detection and Trend Identification: LATO is designed to recognize top and bottom reversal zones using user-defined thresholds (e.g., upper_reversal, lower_reversal). The algorithm signals potential trend changes with event markers such as UP, DOWN, UIP, and DIP, enabling traders to anticipate market reversals.
Risk and Leverage Mapping: By estimating liquidation levels for various leverage values (5x, 10x, 20x, etc.), LATO assists in risk management, helping traders visualize leverage exposure and optimize their trades according to risk tolerance.
Integrated Visualization and Event Labels: LATO enhances visual analysis by plotting key levels, trend lines, and event markers on the chart. Custom labels summarize critical values, including SOD (Sell Odds), BOD (Buy Odds), ORI (Oscillating Range Indicator), and PVI (Price Volatility Index), offering a quick, actionable summary for traders.
User Inputs
Orders Deviation (order_deviation): Controls the deviation for calculating trade levels.
Top Reversal (upper_reversal): Sets the threshold for the upper reversal zone.
Bottom Reversal (lower_reversal): Sets the threshold for the lower reversal zone.
How It Works
LATO tracks market oscillations through the Indexed Position Oscillator (IPO) and Candle Relative Percentage (CRP), dynamically adjusting as the market fluctuates. The algorithm then identifies key levels using weighted prices (e.g., WAP, WBP) and generates reversal signals based on defined thresholds.
Once the Leverage-Aware Trade Optimizer (LATO) is applied to a chart, it automatically calculates dynamic support and resistance levels and identifies potential buying or selling opportunities. The script also plots liquidation zones based on different leverage levels and visualizes these areas through color-coded lines.
Use Case Scenarios
Trend Reversal Detection: Identify when the market is likely to reverse based on the ORI and price action.
Dynamic Price Levels: Use the weighted price levels and trend lines to pinpoint entry/exit points.
Leverage Risk Management: Monitor liquidation levels and use them for managing risk while trading with leverage.
Oscillation Tracking: Track key oscillations for detecting overbought or oversold conditions.
Alert Setup for LATO
You can set up alerts based on the key conditions like UP, DOWN, UIP, and DIP, as well as specific market movements.
Down Trend Alert (DOWN): Alerts when there’s a downtrend, triggered by a crossover of WBP and BL5, with specific conditions for ORI and SOD.
Up Trend Alert (UP): Alerts when there’s an uptrend, triggered by a crossunder of WAP and SL5, with ORI below -0.5.
Upper Reversal Alert (UIP): Alerts when ORI crosses below the lower_reversal threshold.
Downward Reversal Alert (DIP): Alerts when ORI crosses above the upper_reversal threshold.
Conclusion
The Leverage-Aware Trade Optimizer (LATO) is a comprehensive trading tool designed for traders seeking to optimize their trade entries and exits. By combining multiple indicators, dynamic price levels, and reversal zone detection, LATO offers an advanced approach to market analysis and decision-making. Whether you’re trading with leverage or simply looking for trend confirmation, LATO provides the insights you need to maximize your trading potential.
Notes
This script is designed to be used on any time frame.
Adjust the order_deviation parameter based on the asset volatility you are trading.
The reversal thresholds (upper and lower) should be fine-tuned depending on market conditions.
Ensemble Alerts█ OVERVIEW
This indicator creates highly customizable alert conditions and messages by combining several technical conditions into groups , which users can specify directly from the "Settings/Inputs" tab. It offers a flexible framework for building and testing complex alert conditions without requiring code modifications for each adjustment.
█ CONCEPTS
Ensemble analysis
Ensemble analysis is a form of data analysis that combines several "weaker" models to produce a potentially more robust model. In a trading context, one of the most prevalent forms of ensemble analysis is the aggregation (grouping) of several indicators to derive market insights and reinforce trading decisions. With this analysis, traders typically inspect multiple indicators, signaling trade actions when specific conditions or groups of conditions align.
Simplifying ensemble creation
Combining indicators into one or more ensembles can be challenging, especially for users without programming knowledge. It usually involves writing custom scripts to aggregate the indicators and trigger trading alerts based on the confluence of specific conditions. Making such scripts customizable via inputs poses an additional challenge, as it often involves complicated input menus and conditional logic.
This indicator addresses these challenges by providing a simple, flexible input menu where users can easily define alert criteria by listing groups of conditions from various technical indicators in simple text boxes . With this script, you can create complex alert conditions intuitively from the "Settings/Inputs" tab without ever writing or modifying a single line of code. This framework makes advanced alert setups more accessible to non-coders. Additionally, it can help Pine programmers save time and effort when testing various condition combinations.
█ FEATURES
Configurable alert direction
The "Direction" dropdown at the top of the "Settings/Inputs" tab specifies the allowed direction for the alert conditions. There are four possible options:
• Up only : The indicator only evaluates upward conditions.
• Down only : The indicator only evaluates downward conditions.
• Up and down (default): The indicator evaluates upward and downward conditions, creating alert triggers for both.
• Alternating : The indicator prevents alert triggers for consecutive conditions in the same direction. An upward condition must be the first occurrence after a downward condition to trigger an alert, and vice versa for downward conditions.
Flexible condition groups
This script features six text inputs where users can define distinct condition groups (ensembles) for their alerts. An alert trigger occurs if all the conditions in at least one group occur.
Each input accepts a comma-separated list of numbers with optional spaces (e.g., "1, 4, 8"). Each listed number, from 1 to 35, corresponds to a specific individual condition. Below are the conditions that the numbers represent:
1 — RSI above/below threshold
2 — RSI below/above threshold
3 — Stoch above/below threshold
4 — Stoch below/above threshold
5 — Stoch K over/under D
6 — Stoch K under/over D
7 — AO above/below threshold
8 — AO below/above threshold
9 — AO rising/falling
10 — AO falling/rising
11 — Supertrend up/down
12 — Supertrend down/up
13 — Close above/below MA
14 — Close below/above MA
15 — Close above/below open
16 — Close below/above open
17 — Close increase/decrease
18 — Close decrease/increase
19 — Close near Donchian top/bottom (Close > (Mid + HH) / 2)
20 — Close near Donchian bottom/top (Close < (Mid + LL) / 2)
21 — New Donchian high/low
22 — New Donchian low/high
23 — Rising volume
24 — Falling volume
25 — Volume above average (Volume > SMA(Volume, 20))
26 — Volume below average (Volume < SMA(Volume, 20))
27 — High body to range ratio (Abs(Close - Open) / (High - Low) > 0.5)
28 — Low body to range ratio (Abs(Close - Open) / (High - Low) < 0.5)
29 — High relative volatility (ATR(7) > ATR(40))
30 — Low relative volatility (ATR(7) < ATR(40))
31 — External condition 1
32 — External condition 2
33 — External condition 3
34 — External condition 4
35 — External condition 5
These constituent conditions fall into three distinct categories:
• Directional pairs : The numbers 1-22 correspond to pairs of opposing upward and downward conditions. For example, if one of the inputs includes "1" in the comma-separated list, that group uses the "RSI above/below threshold" condition pair. In this case, the RSI must be above a high threshold for the group to trigger an upward alert, and the RSI must be below a defined low threshold to trigger a downward alert.
• Non-directional filters : The numbers 23-30 correspond to conditions that do not represent directional information. These conditions act as filters for both upward and downward alerts. Traders often use non-directional conditions to refine trending or mean reversion signals. For instance, if one of the input lists includes "30", that group uses the "Low relative volatility" condition. The group can trigger an upward or downward alert only if the 7-period Average True Range (ATR) is below the 40-period ATR.
• External conditions : The numbers 31-35 correspond to external conditions based on the plots from other indicators on the chart. To set these conditions, use the source inputs in the "External conditions" section near the bottom of the "Settings/Inputs" tab. The external value can represent an upward, downward, or non-directional condition based on the following logic:
▫ Any value above 0 represents an upward condition.
▫ Any value below 0 represents a downward condition.
▫ If the checkbox next to the source input is selected, the condition becomes non-directional . Any group that uses the condition can trigger upward or downward alerts only if the source value is not 0.
To learn more about using plotted values from other indicators, see this article in our Help Center and the Source input section of our Pine Script™ User Manual.
Group markers
Each comma-separated list represents a distinct group , where all the listed conditions must occur to trigger an alert. This script assigns preset markers (names) to each condition group to make the active ensembles easily identifiable in the generated alert messages and labels. The markers assigned to each group use the format "M", where "M" is short for "Marker" and "x" is the group number. The titles of the inputs at the top of the "Settings/Inputs" tab show these markers for convenience.
For upward conditions, the labels and alert messages show group markers with upward triangles (e.g., "M1▲"). For downward conditions, they show markers with downward triangles (e.g., "M1▼").
NOTE: By default, this script populates the "M1" field with a pre-configured list for a mean reversion group ("2,18,24,28"). The other fields are empty. If any "M*" input does not contain a value, the indicator ignores it in the alert calculations.
Custom alert messages
By default, the indicator's alert message text contains the activated markers and their direction as a comma-separated list. Users can override this message for upward or downward alerts with the two text fields at the bottom of the "Settings/Inputs" tab. When the fields are not empty , the alerts use that text instead of the default marker list.
NOTE: This script generates alert triggers, not the alerts themselves. To set up an alert based on this script's conditions, open the "Create Alert" dialog box, then select the "Ensemble Alerts" and "Any alert() function call" options in the "Condition" tabs. See the Alerts FAQ in our Pine Script™ User Manual for more information.
Condition visualization
This script offers organized visualizations of its conditions, allowing users to inspect the behaviors of each condition alongside the specified groups. The key visual features include:
1) Conditional plots
• The indicator plots the history of each individual condition, excluding the external conditions, as circles at different levels. Opposite conditions appear at positive and negative levels with the same absolute value. The plots for each condition show values only on the bars where they occur.
• Each condition's plot is color-coded based on its type. Aqua and orange plots represent opposing directional conditions, and purple plots represent non-directional conditions. The titles of the plots also contain the condition numbers to which they apply.
• The plots in the separate pane can be turned on or off with the "Show plots in pane" checkbox near the top of the "Settings/Inputs" tab. This input only toggles the color-coded circles, which reduces the graphical load. If you deactivate these visuals, you can still inspect each condition from the script's status line and the Data Window.
• As a bonus, the indicator includes "Up alert" and "Down alert" plots in the Data Window, representing the combined upward and downward ensemble alert conditions. These plots are also usable in additional indicator-on-indicator calculations.
2) Dynamic labels
• The indicator draws a label on the main chart pane displaying the activated group markers (e.g., "M1▲") each time an alert condition occurs.
• The labels for upward alerts appear below chart bars. The labels for downward alerts appear above the bars.
NOTE: This indicator can display up to 500 labels because that is the maximum allowed for a single Pine script.
3) Background highlighting
• The indicator can highlight the main chart's background on bars where upward or downward condition groups activate. Use the "Highlight background" inputs in the "Settings/Inputs" tab to enable these highlights and customize their colors.
• Unlike the dynamic labels, these background highlights are available for all chart bars, irrespective of the number of condition occurrences.
█ NOTES
• This script uses Pine Script™ v6, the latest version of TradingView's programming language. See the Release notes and Migration guide to learn what's new in v6 and how to convert your scripts to this version.
• This script imports our new Alerts library, which features functions that provide high-level simplicity for working with complex compound conditions and alerts. We used the library's `compoundAlertMessage()` function in this indicator. It evaluates items from "bool" arrays in groups specified by an array of strings containing comma-separated index lists , returning a tuple of "string" values containing the marker of each activated group.
• The script imports the latest version of the ta library to calculate several technical indicators not included in the built-in `ta.*` namespace, including Double Exponential Moving Average (DEMA), Triple Exponential Moving Average (TEMA), Fractal Adaptive Moving Average (FRAMA), Tilson T3, Awesome Oscillator (AO), Full Stochastic (%K and %D), SuperTrend, and Donchian Channels.
• The script uses the `force_overlay` parameter in the label.new() and bgcolor() calls to display the drawings and background colors in the main chart pane.
• The plots and hlines use the available `display.*` constants to determine whether the visuals appear in the separate pane.
Look first. Then leap.
Half Cup [LuxAlgo]The Half Cup indicator detects and displays patterns with the shape of a Half Cup , initiating a channel. From this channel, breakouts are detected and highlighted with dots.
Users can control the shape of the Half Cup and the channel length through various settings.
Do note that the displayed half cups are displayed retrospectively, making them subject to backpainting.
🔶 USAGE
The idea behind the indicator is derived from the Cup & Handle pattern, which requires waiting for the pattern full completion.
Our Half Cup publication aims to find opportunities when the potential cup is only formed halfway.
In this example, a green dot shows the first breakout of the upper channel extremity. A few bars later, the price went under it, after which it returned above, triggering a second green dot. Both triggers were good opportunities in this case, and the price rose afterward.
The Half Cup pattern can be the start of a potential complete Cup & Handle (As in the example above, a complete Cup pattern (without the Handle ) is shown, manually drawn with dashed lines).
Every green/red dot, whether on a bullish or bearish pattern, points to a breakout respectively above/below the channel.
Besides drawing patterns and the corresponding breakouts, the Half Cup indicator can also provide insights into trends and potential opportunities in the long run.
🔶 DETAILS
🔹 Validation
Several criteria must be fulfilled before a visible pattern on the chart is drawn.
Calculations are done beforehand to know where the Half Cup pattern would be positioned.
The pattern's bottom and top edges are checked for the number of bars whose closing price is outside the half-cup area. When the number of breakouts above/below is equal to or lower than the user-defined settings ( Max % Breaks Top/Bottom ), the pattern is drawn together with a brighter-colored channel next to it.
Dots highlighting the channel's breakout can be drawn from that moment until the end of both channel lines.
🔹 Positioning
Users can adjust the following settings to fit their needs:
% Broadness: Moves the Top/Bottom line (bullish or bearish) diagonally upwards/downwards.
Vertical Shift: Shifts the entire pattern up/down.
Channel Length: Sets the line length of the channel.
Note that adjusting the position of the pattern will change the validation; the script will be rerun to check if patterns are still valid or if new patterns can be drawn. Some patterns may disappear, while new ones may appear.
Before adjusting the position, the user can set Max % Breaks Top/Bottom at 100%. When the positioning is set, Max % Breaks Top/Bottom can be set as desired.
🔹 Updated Drawings
The Half Cup pattern is always drawn retrospectively (that is it is subject to backpainting), the channel is drawn from the bar from where the pattern is detected. Every breakout of the channel will remain visible as dots.
When a new swing high/low is found while the previous swing low/high remains the same, the pattern is updated to minimize clutter. The dots of earlier drawings will remain visible (to ensure no repainting occurs), but the color becomes faded, as such bright dots are associated with patterns that are visible on the chart, while faded dots are from removed/updated patterns.
🔶 SETTINGS
Swing Length: Period used for the swing detection, with higher values returning longer-term Swing Levels.
🔹 Validation
Max % Breaks Bottom: Allowed maximum amount of bars where the closing price is below the bottom of the Half Cup pattern against the total width of the pattern (bars).
Max % Breaks Top: Allowed maximum amount of bars where the closing price is above the top of the Half Cup pattern against the total width of the pattern (bars).
🔹 Positioning
% Broadness: Moves the Top/Bottom line (bullish or bearish) diagonally upwards/downwards.
Vertical Shift: Shifts the entire pattern up/down.
Channel Length: Sets the line length of the channel.
Gaps Profile [vnhilton]Note: If you get an error preventing indicator from executing due to a loop running longer than >500ms, please lower the amount of boxes shown and/or increase the minimum gap % threshold.
OVERVIEW
The Gaps Profile (GP) simply shows the remaining gaps on the chart that have yet to be closed. Gaps are created where there's a distance between the current open and the previous close. Big gaps suggest change in sentiment and volatility causing prices to pull away thereby creating gaps. Gaps can be used as pivot areas where price may attempt to close the inefficiency entirely and/or serve as supply/demand zones.
(FEATURES)
- 3 to 499 remaining up/down gaps can be displayed on the chart (furthest gaps away from price are removed to make way for new gaps)
- Minimum gap % threshold
- Ability to highlight largest or newest up/down gap
- 4 GP color themes: Mono, Up/Down, Up/Down Largest Gradients, Up/Down Newest Gradients
- GP Type: Left, Right (how it is built - overlapping gaps plotted from left/right to right/left)
- GP offset from current bar
- Box border width
- Box border style for up/down: Dashed, Dotted, Solid
- Toggles to hide border/box with ease
RSI Trend Detector PSAR BasedRSI Trend Detector is based on the Direction of PSAR. This indicator helps the easy detection of Trend Direction and Sideways Movement of Price. It was difficult to determine the RSI Trend Direction in a basic RSI indicator. one cannot decide the exact entry point where to enter.
RSI Trend Detector helps with the direction of trend using PSAR direction which is almost instant direction changing indicator with Zero Lag. The color of the RSI changes immediately based on PSAR direction. One can determine the trend whether its in UP / Down or Sideways.
One can easily detect Pullback and entry points using this indicator.
The basic working can be interpreted with a normal default RSI, The only additional feature is the direction of trend using a SAR signal.
Oversold Zone is below 30
Overbought Zone is above 70
how ever RSI above 50 is treated a UP trend and Below 50 as Down Trend.
when RSI is between 40 and 60 price must be considered as Sideways. One can easily interpret the TREND.
Yellow Line = RSI Moving Average
RED and Green Line= RSI
Grey Zone = Sideways
Horizontal line = RSI level 50
Settings can be changed as required.
RSI Line:
RSI Above 50 up trend and Entry when color is green
RSI Below 50 down trend and Entry when color is Red
RSI in Grey Zone is sideways, wait for a breakout
RSI above 50 and color is red then its a pullback in uptrend
RSI below 50 and color is green then its a pullback in downtrend
ALERTS:
Up signal and Down Signal are provided when ever RSI crosses RSIMA
Up Signal: RSI crosses RSI Moving Average upwards
Down Signal: RSI crosses RSI Moving Average Downwards
Hope the Tradingview community likes this.
[MAD] WaveBuilderThe WaveBuilder indicator is a powerful technical analysis tool that combines wave calculations, channel formation, and smoothing techniques to identify trends, reversals, and potential trading opportunities.
It provides users with customizable settings for different timeframes, smoothing averages, channel levels, and alert conditions, making it a comprehensive and versatile tool for analyzing market dynamics.
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Wave Settings:
The Wave Settings section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the wave calculations based on different timeframes and lengths. This section focuses on four different lengths. Here are the details of the Wave Settings (4 Lengths):
Timeframe 1 (TF1): This parameter allows you to select the first timeframe for the wave calculation. You can choose any valid timeframe.
Weight (F1): This setting represents the weight for Timeframe 1. It is a floating-point value that affects the impact of this timeframe in the wave calculation.
Multiplier 2 (TF2): This parameter specifies the multiplier for the second timeframe. It determines the ratio between Timeframe 2 and Timeframe 1.
Weight (F2): This setting represents the weight for Timeframe 2. It determines the influence of Timeframe 2 in the wave calculation.
Multiplier 3 (TF3): This parameter defines the multiplier for the third timeframe. It determines the ratio between Timeframe 3 and Timeframe 1.
Weight (F3): This setting represents the weight for Timeframe 3. It determines the impact of Timeframe 3 in the wave calculation.
Multiplier 4 (TF4): This parameter specifies the multiplier for the fourth timeframe. It determines the ratio between Timeframe 4 and Timeframe 1.
Weight (F4): This setting represents the weight for Timeframe 4. It determines the influence of Timeframe 4 in the wave calculation.
WaveBuilder Fast: This parameter sets the length of the fast wave average. It represents the number of bars considered in the calculation of the fast wave average.
WaveBuilder Slow: This parameter sets the length of the slow wave average. It represents the number of bars considered in the calculation of the slow wave average.
The Wave Settings allow you to configure different timeframes, multipliers, and weights for wave calculations. These settings provide flexibility in customizing the indicator's behavior based on your preferred trading strategy and market conditions.
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Counter Oscillator:
The Counter Oscillator section in the Multitimeframe WaveTrend indicator enables you to configure parameters related to a counter oscillator. This oscillator helps identify potential reversals or countertrend movements.
Here are the details of the Counter Oscillator settings:
Multiplier Counter (TF5): This parameter allows you to select the multiplier counter timeframe. It determines the ratio between the multiplier counter and the main timeframes.
Weight (F5): This setting represents the weight for the multiplier counter. It determines the influence of the multiplier counter in the counter oscillator calculation.
Length (will_length): This parameter sets the length or period of the counter oscillator. It represents the number of bars considered in the counter oscillator calculation.
The Counter Oscillator settings provide additional insights into the market by analyzing countertrend movements. By adjusting the multiplier counter and length parameters, you can customize the counter oscillator to suit your trading preferences.
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Wave Smoothing and Mixing:
The Wave Smoothing and Mixing section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the smoothing and mixing of the wave calculations. Here are the details of the Wave Smoothing and Mixing settings:
Average 1 Type: This parameter allows you to select the type of smoothing average for the first average. You have various options such as WMA, HMA, VWMA, LMA, RMA, SMA, EMA, and more.
Length 1: This setting determines the length or period of the first smoothing average. It represents the number of bars considered in the calculation.
Average 2 Type: This parameter allows you to select the type of smoothing average for the second average.
Length 2: This setting determines the length or period of the second smoothing average.
Mix Factor AVG1-AVG2: This parameter controls the mixing factor between the first and second smoothing averages. It affects the weighting or blending of the two averages.
POW - Factor: This parameter adjusts the power factor, which can compress or expand the resulting values. It allows you to fine-tune the output based on your preferences.
The Wave Smoothing and Mixing settings enable you to smooth the wave calculations and mix different averages to create a more refined and customized output. By selecting the desired smoothing types, adjusting the lengths, and modifying the mix factor and power factor, you can tailor the indicator to your specific trading style.
----------------------
Channel Levels and Alert Mode:
The Channel Levels and Alert Mode section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the channel levels and the alert mode. Here are the details of the Channel Levels and Alert Mode settings:
Channel Width: This parameter determines the width or range of the channel levels. It represents the distance between the upper and lower channel lines.
Channel Shift Up/Down: This setting allows you to shift the entire channel up or down. It represents the vertical offset of the channel lines.
Alert Mode (Alertmode): This parameter determines the type of alert triggered by the indicator based on the channel levels.
You have options such as Outside, CrossIn, CrossOut, ChangeDir-All, and ChangeDir-Outside.
Channel Levels: The upper and lower channel levels are calculated based on the channel width and offset. They provide visual boundaries for the price movement within the channel.
The Channel Levels and Alert Mode settings help define the channel levels and specify the conditions for generating alert notifications.
By adjusting the channel width, offset, and selecting the appropriate alert mode, you can customize the indicator's behavior according to your trading requirements.
----------------------
Dynamic Channel:
The Dynamic Channel section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the dynamic channel formation.
This feature helps create channels based on different smoothing averages.
Here are the details of the Dynamic Channel settings:
Channel Average 1 Type: This parameter allows you to select the type of smoothing average for the first channel average.
Length 1: This setting determines the length or period of the first channel average.
Channel Average 2 Type: This parameter allows you to select the type of smoothing average for the second channel average.
Length 2: This setting determines the length or period of the second channel average.
MA 1 / MA 2 Mix Factor: This parameter controls the mixing factor between the first and second channel averages. It affects the weighting or blending of the two averages.
Mixing Off Dynamic in Weight: This parameter allows you to mix off the dynamic in weight.
Smoothing Type: This parameter allows you to select the type of smoothing for the trend within the dynamic channel.
Smoothing Length: This setting determines the length or period of the trend smoothing within the dynamic channel.
The Dynamic Channel settings enable you to create channels based on different smoothing averages and adjust the weighting between them. Additionally, you can apply further smoothing to the trend within the dynamic channel. This feature helps identify trends and potential trade opportunities within the channel.
----------------------
Speed of Change Rate:
The Speed of Change Rate section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the rate of change in the indicator. Here are the details of the Speed of Change Rate settings:
Plot Speed (plot_speed): This setting determines whether to plot the speed of change on the chart.
Speed Scaling (change_factor): This parameter adjusts the scaling factor for the speed of change.
Speed Smoother (smoothtype_change): This parameter allows you to select the type of smoothing average for the speed of change calculation.
Speed Length (change_length): This setting determines the length or period of the speed of change calculation.
The Speed of Change Rate settings provide insights into the rate at which the indicator values are changing. By visualizing and analyzing the speed of change, you can identify potential acceleration or deceleration in the price movement.
----------------------
Signal Main Configuration:
The Signal Main Configuration section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the signal input and passthrough. Here are the details of the Signal Main Configuration settings:
Signal Type (inputtype): This parameter determines the type of signal input. You have options such as MultiBit and NoInput.
Select L1 Indicator Signal (inputModule): This parameter allows you to select the source of the L1 indicator signal. You can choose any valid input source, such as the closing price or another indicator.
Signal Passthrough (Passthrough): This setting enables or disables the passthrough of the signal. When enabled, the indicator passes the input signal to the output.
The Signal Main Configuration settings allow you to define the type of signal input and control whether to pass the signal through the indicator or not. This feature provides flexibility in integrating the indicator with other trading strategies or indicators.
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Multibit Modified Channel:
The Multibit Modified Channel section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the modified channel based on the multibit input. Here are the details of the Multibit Modified Channel settings:
Input Bull (CH_Trendup_in): This parameter allows you to specify the input channel for bullish signals.
Bull Offset (trendfactorbull): This setting determines the offset for the bullish signals in the modified channel.
Input Bear (CH_Trenddown_in): This parameter allows you to specify the input channel for bearish signals.
Bear Offset (trendfactorbaer): This setting determines the offset for the bearish signals in the modified channel.
The Multibit Modified Channel settings enable you to modify the channel based on the multibit input. By specifying the input channels for bullish and bearish signals and adjusting the respective offsets,
you can customize the channel representation based on your trading strategy.
Multibit Output:
The Multibit Output section in the Multitimeframe WaveBuilder indicator allows you to configure parameters related to the output of the multibit signals and alerts. Here are the details of the Multibit Output settings:
Output Bull (CH_Buy_out): This parameter specifies the output channel for bullish signals.
Output Bear (CH_Sell_out): This parameter specifies the output channel for bearish signals.
Show Alerts (showalerts): This setting determines whether to display alert notifications for the multibit signals.
The Multibit Output settings define the output channels for bullish and bearish signals and control the display of alert notifications. This allows you to visualize and receive alerts for the multibit signals generated by the indicator.
----------------
Here a overview from the settings
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The pipeline of the WaveBuilder can be understood in the following structured manner:
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Wave Calculation:
Wave calculation is performed using the input parameters, resulting in wave values.
The wave values are then averaged using Average 1 and Average 2, and the weighted average is obtained.
The weighted average is mixed with other factors to create a mixed value.
----------
Channel Formation:
The mixed value is multiplied by a weight to generate a dynamic part.
The dynamic part is combined with the static channel and the multibit modification to form a base value.
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Smoothing and Mixing:
The base value is averaged using Average 1 and Average 2, and the weighted average is calculated.
The mixed2 value is obtained by smoothing the weighted average.
The mixed2 value is further processed using power compression (POW) to refine the output.
----------
Plotting:
The final smoothed and processed values are plotted to visualize the indicator on the chart.
By following this pipeline, the WaveBuilder combines wave calculations, channel formation, smoothing techniques, and power compression to provide valuable insights into market trends and potential trading opportunities.
--------------------------------
Librarys used:
djmad/Signal_transcoder_library
djmad/MAD_MATH
djmad/Mad_Standardparts
Stochastic Zone Strength Trend [wbburgin](This script was originally invite-only, but I'd vastly prefer contributing to the TradingView community more than anything else, so I am making it public :) I'd much rather share my ideas with you all.)
The Stochastic Zone Strength Trend indicator is a very powerful momentum and trend indicator that 1) identifies trend direction and strength, 2) determines pullbacks and reversals (including oversold and overbought conditions), 3) identifies divergences, and 4) can filter out ranges. I have some examples below on how to use it to its full effectiveness. It is composed of two components: Stochastic Zone Strength and Stochastic Trend Strength.
Stochastic Zone Strength
At its most basic level, the stochastic Zone Strength plots the momentum of the price action of the instrument, and identifies bearish and bullish changes with a high degree of accuracy. Think of the stochastic Zone Strength as a much more robust equivalent of the RSI. Momentum-change thresholds are demonstrated by the "20" and "80" levels on the indicator (see below image).
Stochastic Trend Strength
The stochastic Trend Strength component of the script uses resistance in each candlestick to calculate the trend strength of the instrument. I'll go more into detail about the settings after my description of how to use the indicator, but there are two forms of the stochastic Trend Strength:
Anchored at 50 (directional stochastic Trend Strength):
The directional stochastic Trend Strength can be used similarly to the MACD difference or other histogram-like indicators : a rising plot indicates an upward trend, while a falling plot indicates a downward trend.
Anchored at 0 (nondirectional stochastic Trend Strength):
The nondirectional stochastic Trend Strength can be used similarly to the ADX or other non-directional indicators : a rising plot indicates increasing trend strength, and look at the stochastic Zone Strength component and your instrument to determine if this indicates increasing bullish strength or increasing bearish strength (see photo below):
(In the above photo, a bearish divergence indicated that the high Trend Strength predicted a strong downwards move, which was confirmed shortly after. Later, a bullish move upward by the Zone Strength while the Trend Strength was elevated predicated a strong upwards move, which was also confirmed. Note the period where the Trend Strength never reached above 80, which indicated a ranging period (and thus unprofitable to enter or exit)).
How to Use the Indicator
The above image is a good example on how to use the indicator to determine divergences and possible pivot points (lines and circles, respectively). I recommend using both the stochastic Zone Strength and the stochastic Trend Strength at the same time, as it can give you a robust picture of where momentum is in relation to the price action and its trajectory. Every color is changeable in the settings.
Settings
The Amplitude of the indicator is essentially the high-low lookback for both components.
The Wavelength of the indicator is how stretched-out you want the indicator to be: how many amplitudes do you want the indicator to process in one given bar.
A useful analogy that I use (and that I derived the names from) is from traditional physics. In wave motion, the Amplitude is the up-down sensitivity of the wave, and the Wavelength is the side-side stretch of the wave.
The Smoothing Factor of the settings is simply how smoothed you want the stochastic to be. It's not that important in most circumstances.
Trend Anchor was covered above (see my description of Trend Strength). The "Trend Transform MA Length" is the EMA length of the Trend Strength that you use to transform it into the directional oscillator. Think of the EMA being transformed onto the 50 line and then the Trend Strength being dragged relative to that.
Trend Transform MA Length is the EMA length you want to use for transforming the nondirectional Trend Strength (anchored at 0) into the directional Trend Strength (anchored at 50). I suggest this be the same as the wavelength.
Trend Plot Type can transform the Nondirectional Trend Strength into a line plot so that it doesn't murk up the background.
Finally, the colors are changeable on the bottom.
Explanation of Zone Strength
If you're knowledgeable in Pine Script, I encourage you to look at the code to try to understand the concept, as it's a little complicated. The theory behind my Zone Strength concept is that the wicks in every bar can be used create an index of bullish and bearish resistance, as a wick signifies that the price crossed above a threshold before returning to its origin. This distance metric is unique because most indicators/formulas for calculating relative strength use a displacement metric (such as close - open) instead of measuring how far the price actually moved (up and down) within a candlestick. This is what the Zone Strength concept represents - the hesitation within the bar that is not typically represented in typical momentum indicators.
In the script's code I have step by step explanations of how the formula is calculated and why it is calculated as such. I encourage you to play around with the amplitude and wavelength inputs as they can make the zone strength look very different and perform differently depending on your interests.
Enjoy!
Walker
MA ChannelThis indicator creates a high and low channel of moving average type selected, it also can draw deviation bands based on the channel for a unique representation of squeezes.
Features
Moving average channel displays constant high and low price trend.
Center band displays color representative of trend direction constantly.
High price trend line disappears during downtrends, and low price trend line disappears during uptrends.
Deviation band display accurately reports squeezes between price and channel data.
Deviation band fill reports price range expansion as possible trend weakness.
Settings
Period adjusts historical price data to use for trend analysis.
Average Type adjusts the type of average calculation used in the trend plots.
Show Deviation Band toggles display of deviation bands and their fill.
Deviation Multiplier adjusts the deviation calculation, 2.0 is common.
Style adjustments include up/down trend strong/weak color customization (default theme supports color blindness).
Color Bar displays overall trend color on each bar.
Deviation Band Fill With Squeeze Measurement adjusts opacity to represent deviation band squeeze, when bands contract the colors disappear, when bands expand the colors reappear.
Usage
Trend Analysis
When price has broken above the channel then it's an uptrend, price below the channel is a downtrend.
Pay attention to when inverse trend line appears only momentarily, these could be excellent trend continuation entry areas.
Reversals
Reversal areas can be spotted where price breaks the channel central ribbon but doesn't close outside on the opposite end of previous trend.
Squeeze
Band fill squeeze mode aims to make it a simple task to see when a squeeze may be weakening, with the color trend brightening during periods of expansion, and disappearing during periods of contraction (squeezing).
TICK Grid (TheMas7er)█ OVERVIEW
Shows the NYSE Tick Index, as it is used by TheMas7er .
This indicator has several customization options built-in that can be configured:
• Positive and negative threshold levels with show/hide option and color selection.
• Zero line with show/hide option and color selection.
• Bar colors are fully customizable.
• Symbol can be changed. Default is USI:TICK for the New York Stock Exchange.
Tick Indices are available in TradingView as a symbol - just like any other stock - which you can show on a chart.
This script adds a pane with your selected Tick Index, which can then be used as an indicator to make short-term trading decisions.
█ CONCEPTS
The Tick Index is a short-term barometer of internal market strength.
It shows the number of stocks trading on an uptick minus the number of stocks trading on a downtick, and is used by day traders to view the overall market sentiment at a given point in time.
It's categorized as a Breadth Indicator because it analyzes the "Breadth and Scope" of an entire Index.
Since the Tick Index measures the up/down ticks of a universe of stocks, any collection of stocks (market,index,...) could theoretically have it's own Tick Index.
Some of the major Tick Indices are:
• USI:TICK for the New York Stock Exchange
• USI:TICKQ for Nasdaq
• USI:TICKI for the Down Jones
Gap Size Outcome Statistics [vnhilton]This indicator displays a table with statistics showing the outcomes of gap ups or downs based on your threshold (i.e. does the day end in green or red?). This can be useful for trading, where you're using relevant ETFs & see that they've gapped up/down, & can assume based on statistics that the ETF will end in green/red depending on which has the higher probability (however, you can use these on any other instruments such as stocks to find edges e.g. seeing whether stock XYZ is more likely to end in green/red when it gaps up 100%).
The table also includes sample sizes for your threshold tests for more confidence in the statistics, & also displays average gap up & downs & their respective sample sizes as well. This indicator is intended to be used on the daily timeframe, but can be used on lower or higher timeframes if you prefer.
In the chart snapshot image above, we can see that when the SPY gaps up > 1%, the day is more likely to end in green than in red. But when the SPY gaps down < -1%, it's also more likely to end in green than in red.
( IMPORTANT NOTE : There's 1 limitation with this indicator & it's that it assumes that days where close=open are green days, & that 0% gaps exact are considered gap ups.)
TIA Gann Swing IndicatorTIA Gann Swing Indicator
This indicator is a mechanical tool that tells the user exactly what the market trend is at any time, based on the teachings of Legendary trader, Mr. William D. Gann .
Gann called this tool the “Trendline Indicator,” but it has popularly become known as the “Swing Chart” by present-day traders.
In October 1909, Richard Wyckoff watched Gann for 25 market days (the markets traded on Saturdays back then), where Gann made 286 trades, both long and short. Two hundred sixty-four (264) of these trades were profits.
The Swing Chart was Gann’s primary trading tool helping him achieve these phenomenal trading results.
This indicator, now available to you in TradingView, automatically displays the swing chart and trend on any timeframe.
Selecting “Show Trend,” will light the background of the chart up, showing if the trend is “Up,” “Down,” or “Uncertain.”
The indicator is also fully customizable to display “Break Lines,” which indicate potential trend changes ahead of time.
Additional features include data about each bar and swing to give the user vital information, and the data points currently available include:
Bar Type
This indicator selection allows the user to identify precisely what each bar is, as per WD Gann’s Instructions.
Each of the 4 bar types includes:
Up bars, Down bars, Inside bars, Outside bars
Date
Displaying the date of swing tops and bottoms allows the user to stay on top of significant announcements and events in the economy. Often, market reversals occur right around critical economic events.
Time
This indicator selection allows the user to identify the time of the swing tops and swing bottoms. Designed for intra-day traders, this setting displays the exact time of tops and bottoms on any timeframe to help stay ahead of any important announcement.
Price
Price analysis is critical for every technical analyst, and displaying the price of swing tops and bottoms allows the trader or investor to stay on top of essential pivot points in the market. Identifying potential support and resistance levels keeps traders ahead of the herd.
Range
Identifying each swing’s price range gives the trader or investor critical information. Have you ever wondered if a market is gaining momentum or losing momentum? Knowing if price ranges are expanding or contracting is key, and this setting quickly displays what every swing range is doing.
Bar Count
What is the average number of bars up or down? Markets can only move in one direction for so many bars before a reversal. Simply displaying the number of bars between each swing gives the analyst valuable insights into overbought or oversold trends. Gann's famous “7-10 bar” rule identifies potential reversals, and this simple indicator setting can help any market participant stay ahead of the pack.
The TIA Gann Swing Indicator is an indicator that EVERY trader & investor should have at their fingertips. It is critical for long-term investors and short-term traders to know the trend of their market and vital information about the upswings and downswings. The TIA Gann Swing Indicator is the indicator to help.
See the Author's instructions below to get access to this package.
[UPRIGHT Trading] MoneyFlowTrend Oscillator(cc) PremiumHey Traders,
Tonight I'm updating my beloved original MoneyFlowTrend Oscillator with a Premium version.
A little background:
This is an indicator that I've been working to bring to life for years; learning pinescript code has allowed me to do just that.
Built on the idea of Supply & Demand Zones, this utilizes money flow and numerous calculations to create a picture of what is happening underneath the surface of the price action.
Richard Wykoff was one of the first market analysts to explain how the economic cycle can be applied to explain market price action; thus, technical analysis . He described two zones among the total of 4 phases; the two zones are Distribution and Accumulation zones, also known as Supply & Demand zones.
______________________________
Since most of you already know the economic cycle, I will try to be concise.
The basic ideas:
When supply > demand, the price goes up down.
When demand > supply, price goes up.
When demand = supply, the price stays about the same (going sideways).
Price action has --Uptrends, downtrends, and price ranges (consolidation).
Wykoff's 4 phases to explain this price action :
1) Accumulation (Demand zone)
2) Markup (Uptrend)
3) Distribution (Supply zone)
4) Markdown (Downtrend)
______________________________
With all that said, usually you will either see a sharp jump from a supply or demand zone or it will consolidate within it. Until a new one is formed on the chart.
This indicator attempts to put all of that into a lower indicator. I tried to separate the retailers and the banks and then put them back together to get a full picture.
Premium:
-Even MORE (quality & quantity) Accurate signals.
-Reversal Signal added (Circle- shown on chart)
-Cleaner Scaling and Organization.
The chart shown above should look like this:
Good luck traders.
Cheers,
Mike
(UPRIGHT Trading)
MoneyFlowTrend Oscillator (cc) [M.Right]Hey Traders,
Tonight I present to you a brand new indicator.
I call it the MoneyFlowTrend Oscillator . This is another one that I've been piecing together for years and learning how to code pine has allowed me to bring it to life.
Built on the idea of Supply & Demand Zones , this utilizes money flow and numerous calculations to create a picture of what is happening underneath the surface of the price action.
Richard Wykoff was one of the first market analysts to explain how the economic cycle can be applied to explain market price action; thus, technical analysis. He described two zones among the total of 4 phases; the two zones are Distribution and Accumulation zones, also known as Supply & Demand zones.
______________________________
Since most of you already know the economic cycle, I will try to be concise.
The basic ideas:
When supply is greater than demand, the price goes up down.
When demand is greater than supply, price goes up.
When demand is equal to supply, the price stays about the same (going sideways).
Price action has --Uptrends, downtrends, and price ranges (consolidation).
Wykoff's 4 phases to explain this price action :
1) Accumulation ( Demand zone)
2) Markup (Uptrend)
3) Distribution ( Supply zone)
4) Markdown (Downtrend)
______________________________
With all that said, usually you will either see a sharp jump from a supply or demand zone or it will consolidate within it. Until a new one is formed on the chart.
This indicator attempts to put all of that into a lower indicator. I tried to separate the retailers and the banks and then put them back together to get a full picture.
The MoneyFlowTrend Oscillator Signals are super accurate.
((accuracy can't always be this close to perfect.))
These are the signals + highlight that I have activated, you can toggle on and off between them.
Fully customizable and includes alerts.
Good luck traders.
Cheers,
Mike
KINSKI Flexible Vortex IndicatorThe Vortex indicator is based on two trend lines that indicate an uptrend (VI+) or a downtrend (VI-) in the current market. This can be used to determine trend reversals or confirmations of current trends and directions. The number of periods is usually between 10 and 25. This indicator has 14 periods as its default value. You can adjust this value in the settings according to your needs.
A buy signal can be interpreted when VI+ is greater than VI-. Conversely, a sell signal exists when VI+ is smaller than VI-. Whenever a "crossing point" occurs, an imminent trend change can also be anticipated. If the differences from the highs and lows become larger and larger, a breakout is to be expected.
When using this indicator, please note that VI+ and VI crossings, especially during choppy price movements, can trigger false trading signals.
What distinguishes this Vortex indicator from others of this type?
Possibility to choose between different template templates that influence the display
Extensive setting options to emphasize upward and downward movements and cross points
The following settings are possible:
"Length": Adjustable period / default value = 14
"Template": "DISABLED", "Clear", "Informative" / Default value = DISABLED
"Line: Size": Thickness of the vortex lines / default value = 2
"Line: Style Type": Display variants (options: "Line", "Stepline") / default value = "Line".
"Line: Up/Down Movements": Up and down movements are highlighted in color / default value = AN
"Cross Points: On/Off": Cross points are displayed / default value = OFF
"Bands: On/Off": Vortex lines are connected as a band / default value = OFF
"Bands: Transparency": Strength of transparency / default value = 85
Color codes: The color codes are explained in the settings
SB On Balance Profit/Loss IndicatorI was always interested in volume indicators as well as market sentiment.
While brainstorming, I came to the thought that people with gains vs people with losses can move a stock up or down.
I don't want to debate the rational behind people buying and selling based on profits or losses, so this isnt a signaling indicator.
However, I still wanted to have a way to measure and visualize this information.
On Balance Volume was not enough for me. I wanted to know how much actual money was made or lost, over time.
This indicator was created based on two different time periods, the daily and the 30m.
The daily time period is used to measure money made from close of the day before to the open of the current day (gap up/down).
The 30 minute precision period is used to measure the money made from the close of the current bar from the close of the bar prior and calculated 13 times per trading session.
There is an option for 15 minute and 5 minute precision, but it may take longer for the script to process and may time out at lower precision periods.
The default lookback period is 10 days, values are cumulative. We can clearly see over the last 10 days how much money was made, lost and on balance. This should affect trader sentiment.
Visual display is the cumulative money made (green line), cumulative money lost (red line), and cumulative net on balance money (black line). The net on balance money is filled green above zero and filled red below zero.
The Green Histogram is the money made overnight, the Red histogram is the money lost overnight.
The black histogram above zero is the money made intraday and the black histogram is the money lost intraday.
Takeways
Just because a stock is trending down, as noted by the downward slop in price on the daily chart , it does not mean that the average trader is losing money. Intraday price action can offset money lost at higher time periods.
Especially in cases where a stock gaps down overnight, buyers step in at the low and the stock closes above open, but below previous days close. Esspecially when this is done on high volume .
The net profit can be greater than net loss, even if the day closes down from previous close. This can really help with "sentiment" and being able to visualize this sentiment may be helpful in making a decision to buy or sell.
View my collection of custom scripts at: www.tradingview.com
BOSCILLATOR. A BOSS OSCILLATORI would like to first say I do not the indicator pieces. Would like to personally give thanks and credit to @MarkBench for coding this indicator and helping to get my vision for this system finally able to be published and used by anyone. I would also like the thank @lazy bear and @ChrisMoody for their bringing the Firefly oscillator and the SCHAFF TREND and the PPO price percentage oscillator to trading view. and @scilentor for his version of Godmode with LSMA . Thanks to @Shizaru for bringing Frama moving average (which we have adopted into the PPO as one of the base selections for the first time, as well as the ALMA ). Divergences have also been added. and components of the firefly have been removed such as the histogram. I have added two oscillators in the picture. The bottom is the standard settings. The above is how I prefer mine to look after tweaking the settings.
Before I get into explaining how its used. I want to say all the indicators are open and none privately owned or at least owned by indivduals who brought them to trading view. Any due permission is granted at my disclocsure. I also want to say this is not your typical mashup of indicators as the is a very clear way to view and use this specifically. Also I want to say original tools from their original scripts are also improved. For example the PPO being used we have added the FRAMA and ALMA moving average basis option which it did not have before. And now everything has clear divergences and some other minor changers. but here are the rules and examples.
THE BOSCILLATOR - A MULTI-LEVEL CONFLUENCE/CONFIRMATION FILTER VISUALIZATION
Some shorthand
(Main oscillator - firefly)
(background wave thing - PPO )
(the red vertical up and down line with red and green dots - STC )
(the blue, yellow and red dots - warning dots)
WHO IS THIS INDICATOR FOR? - This indicator itself is not meant to be a signal giver to buy or sell right now even though it could be and some of the original scripts are used as such. This indicator is actually meant to be a VISUAL CONFIRMATION & FILTER for trades taken in other methods outside of this indicator. What are some of those methods that may benefit from having this? Pivot point traders, FIB traders, Bollinger band traders, Moving average traders.. just to name a few. This indicator itself is meant to in a quick glance allow the trade to see the condition of many different elements outside of the main price and chart, and determine if that trade looks like it has too much risk, or if that trade looks suitable. It also provides a series of confirmations that could be used for adding to a position at different levels at the trade's discretion.
OPTIMAL CONDITIONS FOR CONSIDERING A SHORT = The PPO is orange/red + the STC is at the TOP + the Firefly is above the midline. The warning dots are being printed at the top. There is regular or hidden bearish divergence present.
OPTIMAL CONDITIONS FOR CONSIDERING A LONG = The PPO is light/dark green + the STC is at the BOTTOM + the Firefly is below the midline. The warning dots are being printed at the bottom. There is regular or hidden bullish divergence present.
Triggers for scaling/adding into your position = Keeping in mind that this oscillator on its own is not meant to be the sole reason for taking a trade, here are some triggers you will see for getting into position (preferably with the optimal conditions being met) The firefly flips from a green line into a red slide and vise versa. The firefly crosses the midline up or down. The STC begins going up/down and triggers a green or red dot while crossing one of the levels at 20 or 80. The warning dots being made begin to be printed lower/higher than the dot before last. The PPO shift from one color to the next in the favored direction of the trade you wish to make.
Signs for taking profit and protecting your trade = The Dots begin to print, the PPO changes colors at the top or bottom. the STC arrived are the top.
FILTER SITUATIONS TO AVOID TRADES = Wise to not take a trade if the PPO and the firefly do not agree. For example - if the PPO is showing green yet the firefly is still red may be an indication that it is getting a bit late for you to enter the trade. Same with opposing divergences and warning dots contradicting the trade you are looking at. The STC being already on the bottom or top may be a small indication that trade may already have been a little too ripe, but on its own is not always the case.
When selecting the PPO settings and moving average you are going to want it to be in favor of what you are trying to accomplish.IF you are one low time frames and trying to swing or scalp trade... chances are you want a reactive MA setting that iss responsive. Iwould recommend the HULL, ALMA, TEMA DEMA. For the Higher time frame the EMA or the T3 WDma can be wuite patient and helpful for a constant reminder of caution
Some notes - for the swing and scalp trading... in my experience the PPO moving average basis sees more responsive changes with the FRAMA , ALMA , HULL settings. for entering a trade, at least a couple of your triggers being present increases the success rate by a lot.
This chart illustrates the usefullness of having a Zero lag function for the firefly. The firefly should not be taken for signals or trades itself. However it is the most precise finder of divergences within the system. It is aways good to flip on and off zero lag just to take a quick look for divergences you might have mixed.
In this chart illustrates the general visual look and order of events to guide you along your way. Starts with the PPO turning green or red or orange which is potentially time to get out of your current trade. Then it switched colors when reversal begins and that is when you want to at the same time see the STC, the firefly, and lower caution dots coming in around the same area (highlighted in blue squares). Now near the end you see a red box. This is a filter aspect. The PPO is green, yet the others are saying down/short. This does not mean it must be a long, however it is great warning to maybe avoid getting to bearish for the downside in that time. You want the PPO and line up with the others and it should be visually apparent that they all want to go the same way.
Here is a list of some key elements (before changes this script made) of parts this oscillator includes. My original publication of my oscillation setup was blocked by the mods here.. this one however includes a large variety of items that have been altered from their original formats and a well-explained trading system to use it with.
// Firefly
Firefly Oscillator
// PPO
PPO PercentileRank Mkt Tops & Bottoms (@PuppyTherapy)
// Divergence
Divergence Indicator (any oscillator)
// Godmode
Godmode3.2+LSMA
// Schaff
Schaff Trend Cycle
// Frama
(FRAMA) Fractal Adaptive Moving Average
Volume-Supported Linear Regression TrendHello Traders,
Linear Regression gives us some abilities to calculate the trend and if we combine it with volume then we may get very good results. Because if there is no volume support at up/downtrends then the trend may have a reversal soon. we also need to check the trend in different periods. With all this info, I developed Volume-Supported Linear Regression Trend script. The script checks linear regression of price and volume and then calculates trend direction and strength.
You have option to set Source, Short-Term Period and Long-Term Period. you can set them as you wish.
By default:
Close is used as "Source"
Short-Term Period is 20
Long-Term Period is 50
in following screenshot I tried to explain short term trend (for uptrend). Volume supports the trend? any volume pressure on trend? possible reversal? same idea while there is downtrend.
in following screenshot I tried to explain long term trend:
You can also check Positive/Negative Divergences to figure out possible reversals (to automate it, you can use Divergence for Many Indicators v4 , it has ability to check divergences on external indicators)
Enjoy!
Tug-of-War Fast/Slow Technical IndicatorThe script Tug-of-War (ToW) Fast/Slow has a couple of lines (red and purple) and areas (purple and greenish) which give the trend. It also has one line (blue) and dots (green) that give the up-and-down swing.
HOW THE INDICATOR WORKS
It is based on moving averages run on normal OHLC bars, Heikin Ashi bars as well as customized bars (which modify the open/high/low/close values similar to how Haikin Ashi bars do). These moving averages are weighted by volume and related to each other (for example differences are calculated) to produce the final lines. Since the script requires volume, it may not work for tickers which don't have volume (however for some tickers the script uses a proxy-volume so that they work; for example it uses the SPY volume for VIX). There is a different but similar script that I'll be publishing (ToW Simple) which doesn't use volume and runs on any ticker.
HOW TO SETUP THE INDICATOR
The indicator can be run on "close" prices as well as "open", "high", "low" and several mini-max modes ("MM ..."). They pick highs and lows (minim and maxim values, hence the mini-max name) to generate the indicator lines. See the drop down box options under "Adjust Close Type" (the very fist options in the script settings). The multiple MM modes use different formulas to calculate the mini-max values. The more significant MM modes are MM ZZ (zig-zag), MM HL/HL (determines highs and lows based on highs and lows), MM HL/C (determines highs and lows based on close) and MM Close. Note: if the MM ZZ mode show you the highs for the current bar and you actually want the lows (or vice versa) check "MM ZZ Reverse".
The indicator has two fast lines:
the green dots (called F1 since it's the 1st Fast line, actually dots)
the blue line (called F2--the 2nd Fast line)
They are called "fast" because they move up and down faster. In previous iterations of the script I called them "swing lines" since they capture the prices swing up and down. The blue line is the more significant one (since the green one I set, by default to dots instead of an actual line).
The indicator has two slow lines:
the purple line (called S1 since it's the 1st Slow line)
the blue line (called S2--the 2nd Slow line)
They move slower than the fast line and they are better at determining the trend.
The order of lines, from fast to slow, is: F1 (green), F2 (blue), S1 (purple) and S2 (red).
The indicator also has two areas:
the greenish area (called FA since it's the Fast Area)
the purple area (called SA since it's the Slow Area)
Additional lines (but less significant are displayed if you uncheck the "Clean look" option).
The script allows to display up to for sets of lines (see the top "Adjust Close Type (Set #)" options). For example one set may show "Highs" and the other "Lows" or "Close" and "MM HL/HL". Additionally it can run in multi-set mode when it shows the chosen one line (F1, F2, S1, S2, FA, SA) for each OHLC (open, high, low, close). See "Only Show Related Lines" option. In this display purple is the line for Open, green is the line for High, red is the line for Low and black is the line for Close.
The indicator also has a custom mode (see the "Enable custom bars" checkbox and the options following it). With it you can change the open/high/low/close value (see "Custom #1 OHLC to Modify") of a bar ("Custom #1 Index To Modify" determines which bare to modify, 0 being the most recent bar). Then "Custom #1 Modifier Type" specifies to use open/high/low/close value of the same or different bar (use "Custom #1 Modifier Index/Value ..." to choose which bar's OHLC value to use for the custom value; 0 means the O/H/L/C value of the same bar as the one being modified; 1 means previous bar, etc.). If "Custom" is selected instead (under Modifier Type) then you can enter the custom value in the "Custom #1 Modifier Index/Value ..." field. This will show you how the indicator lines look like if the price was different. Three different bars can be modified this way. You can try different custom values and see for what price value one of the lines reaches a high or low point. That is an estimate of how far the price may go. Note: the indicator values depends depends on all OHLC values (plus volume) not just on the one chosen. That is, if the indicators is based on close values it is still affected to some extent by high, low and volume. Therefore the price value determined using the custom mode may not be exact but only a rough estimate (and the bigger changes in OHLC the bigger affect on the indicator and the actual price may not be exactly what was calculated using the custom mode.
HOW TO USE THE INDICATOR
Strategies and tools that apply to price such as resistance and support levels and trend lines, pitchforks (particularly Schiff pitchforks in case of the indicator) also apply to these lines. Because the indicator lines are within a range it is generally easier and faster to see and find such support/resistance levels and trend lines.
Additionally, the lines or the areas crossing the 0 line often indicate a change in trend (however if earlier indicator highs/lows bounce off around the 0 line that may happen this time around as well). The more significant 0 crossing is for the slow lines (red first and then purple) as well as the areas.
The slow lines and the areas, as mentioned already, show the trend (in previous iterations of the indicator I called them direction lines).
The fast lines (blue line, green dots) show the swing, as mentioned earlier. They often swing up and down. When they reach a high (you can thin of it as overbought) they may move back down on the next bar (or vice-versa when reaching a low). However, sometimes they don't swing but rather move in a line closer to a straight line (more like the slow lines). That indicates that the trend is stronger.
The fast lines can also indicate the trend by looking if their highs and/or lows are trending up or down. Thus, if the highs and lows are trending down then it's likely the price will go down.
Another thing to look at is divergence between the price and the slow lines or the high/lows trend of the fast lines (that I mentioned above). If the price is going up but the these are trending down then over the same bars then the price may be coming closer to a reversal.
STRATEGIES
Swing-in-trend. Find a ticker with the slow lines showing an upward trend (i.e., the red line crossing 0 or being above 0) and a the slow line (such as the blue line) reaching a previous low level (draw support levels and/or trend lines to determine that). Go long when the fast line reaches the support level or bottom trendline. The expectation is that the price will move up by the close of the next bar (when the position should normally be closed). The "go-short" setup is just reversed (slow lines trending down and the fast lines reaching high levels). You can use the "High", "Low", "MM ZZ" or one of the other MM modes instead of "Close" to get a better entry and exist point (in this case you enter when the the "Low" or "MM ZZ" modes reached a low and you enter if the "High" or "MM ZZ" reached a high or else exit at close of the next bar).
Trend-on-swing. When the red line is about to cross or just crossed the 0 line and wait for the swing line to go down first (you can use "High", "Low" or an MM mode, as explained dabove, for a better entry point) and then you enter the position and exit when either the slow (red) line reaches a resistance level, it crosses 0 the other way or when the fast line reaches a very high resistance level. This strategy will take longer, it won't be closed on the next bar.
Mini-max strategy. This is a new strategy I've developed. It uses MM ZZ mode (and a second MM ZZ set to "reverse") as well as "High", "Low" and "MM HL/HL" mode. I basically draw resistance and support lines on these, usually 2-3 lines for high and the same for low, for multiple tickers that seem a good match (they show a nice, consistent up/down pattern for MM ZZ). When the F2/blue lines reaches one of the horizontal lines further from the 0 lines (I setup alerts for this), then I enter expecting a move in the opposite direction. If it reaches the 2nd or 3rd low horizontal line then I go long. Then on the next bar when the F2 line reaches the 1st high horizontal line then I close the position (alternatively, I close half and keep half for when the second high horizontal line is reached). Alternatively, I may close the same bar, when the reversed MM ZZ setup reaches the 1st high horizontal line. I usually use this setup on weekly charts and use weekly options but it can be used on other charts such as daily charts as well.
I recommend to setup alerts on the indicator. After you draw a horizontal line or a trend line and you select it, its bar has a clock icon with a "+" sign. If you click on it you can setup an alert. In the setup dialog, under "Condition" select the indicator and then select the line of the indicator (such as "F2 (f_s/Blue)") then select "Once Per Bar" under "Options" (that's my recommendation, it will alert you only one time per bar). Finally customize the message for example: "ZZ: F2/blue /lo hl 1/3, TQQQ, 1D" (which means it's for MM ZZ mode when F2 (blue) line intersects the 1st (out of 3) low horizontal line (HL) and it's for TQQQ on 1D chart. When I use the reverse mode for ZZ then I write: "ZZr: ..."
In the chart above, the first indicator shows the "Close" mode and the second the "MM ZZ" mode (along with 2 levels for high and low).
LT Trend 2.0This is a short term trend based indicator which colours the bars blue and red indicating the probable trend: blue indicating the probable upward (or “bullish”) trend and red indicating the probable downward (or “bearish”) trend.
The first criteria (called “volatility trend) colours the bars (blue or red) based on one of the indicators which we use that measures momentum and the key support/resistance level. When price is closed above this level, the bars are coloured blue and when price closes below this level the price bars turn red. The purpose is to show the likely trends, swing in price and path of least resistance, specially in the short term (depending on the timeframe chosen).
The second criteria (optional) uses the average range of the last 7 bars (although the period can be changed by the user). It colours the bars blue or red based on the average range and momentum bias of the past 7 bars. In this respect, it is slower to react to the constant “noise” and volatility in the price action by smoothing out a lot of the noise (depending on which setting one has chosen e.g. period of default 7 or lower). If the volatility or range of the next bar exceeds the average range of the previous 7 bars in an opposite direction (e.g. opposite directional momentum), the colour of the bars may change. For example, if the previous bar has been blue, and the range of the next bar is greater than the average of the previous 7 bars in the downward direction, the colour of the bars could likely turn red. This second (optional) criteria can be chosen by deselecting (unticking) the “volatility trend” criteria in the settings.
The main idea behind the indicator is to be able to observe the probable short term trends in the price, and to smooth out a lot of the bar-by-bar (or candle-by-candle) volatility and up/down action. If the bars are blue, this is a potentially bullish sign, as it often means that “bulls” may have the edge. The reverse is the case for red bars, as it is a bearish sign – or that “bears” may have the edge. Usually 2 consecutive bars of the opposite colour can signify a potential trend change (although one bar of the opposite colour can also suffice).
The indicator also incorporates a “trend following pivot” – shown by a yellow dot. This indicator waits for a pullback (or retracement) to either the 21 and 34 EMA - shown by blue and pink EMA lines respectively - and when the price bounces off or “pulls away” from either of these EMAs by a certain degree, the indicator then shows the yellow trend following pivot as a yellow dot. For example, if price is in an uptrend, then price pulls back to the 21 or 34 EMA, and then bounces off either of these levels by a certain extent, we may then see a yellow dot (or pivot) at the lowest most recent point (which would then become support). The yellow dot (or pivot) can indicate that the uptrend could potentially continue, provided price remains above the pivot (yellow dot). Similarly, in a downtrend example, if price pulls back to either the 21 or 34 EMA, then price gets rejected from these levels by a certain extent (so that price then falls back below these EMAs again), we may see a yellow dot at the highest recent point (which would become resistance). The yellow dot (or pivot) can indicate that the downtrend could potentially continue provided price remains below the pivot (yellow dot).
The “ultra” overbought and oversold signal colours the bars orange when price hits an extreme “overbought” or “oversold” level. Usually the price tends to reverse direction or start a correction when it reaches an extreme “overbought” or “oversold” level. Of course, it is possible for the price to ignore overbought/oversold readings – and if the price ignores the orange “ultra” signal by continuing in its original direction, it can mean that the momentum or trend is stronger than originally anticipated. Often the orange “ultra” signal can also mean that it may be time to tighten stops (specially as the risk or probability of a pullback or reversal increases).
Chartists should be aware of the probabilistic and uncertain nature of price action and the markets, and therefore prepare to limit and control any potential risks.
The indicator can be used on the charts of the majority of markets (e.g. stocks, indices, ETFs, currencies, cryptocurrencies, precious metals, commodities etc.) and any timeframe. It should be noted that the degree of noise and randomness increases significantly on lower timeframes. So the lower the timeframe that is chosen (e.g. 15-min or lower) the greater the degree of noise and randomness and therefore the higher the frequency of false signals or whipsaws. The indicator can be applied to candlestick, bar, line, line break, range and renko charts.
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