Machine Learning Z-Score Buy and Sell [SS]Hey everyone,
Releasing this Z-Score based buy and sell indicator.
What it does
This indicator:
Uses Z-score and trend to identify potential buy and sell areas.
Signals those buy and sell areas and provides a target price based on the mean.
Plots the target price for buy and sell signals as a red line (for sell signals) or green line (for buy signals).
Has some "machine learning" aspects, namely, it is able to auto select its lookback length based on its analysis of the trend using Pienscript's trend correlation function iterated over multiple lengths, in order for the indicator to identify:
a) The strongest trend; and
b) The correct target price
What is Z-Score
Z-Score is a measure of the mean. Thus, this is a mean reverting type strategy, as it uses z-score to determine price's distance from the mean (or a Z-Score of 0) and then it looks at historic deviations from the mean to signal the buy and sell signals (i.e. how far has price traditionally drifted from the mean before reverting).
Z-Score is a powerful tool in this sense, and if you folow my other indicators, you will know how much I love Z-score!
How to use the indicator
If you want to use the full Machine Learning capabilities of the indicator, its best to just leave all default settings. These default settings will automatically adjust the mean target price and buy and sell signals to align with the current price action.
If you want to be more aggressive in your
Target Price; and
Signals
Then you can opt to manually input a lookback length and mean reversion standard deviation. However, I generally suggest to avoid this as you are then making your own determination of trend by qualitative assessment. It can work, but its just not suggested.
In the input menu, you will see the option to "Manually select lookback" thus over-riding the auto-determination of trend and targets.
You will also see "manual pullback" enabler and "Pullback Standard Deviation". You can set your pullback standard deviation if you want to be more aggressive. The indicator will naturally shift to conservative target prices based on a neutral mean. However, if you want to increase the aggressiveness of the target price, you can increase or decrease the pullback standard deviation.
General Tips about Manually Adjusting Pullback Target
Here are some tips if you want to manually adjust the pullback targets:
The pullback target needs to be in a standard deviation value, this can be anywhere from 0 to 4 or 0 to -4 (you can theoretically go higher but its not really realistic). You can also do decimals, so 1.5 or 1.25 etc.
To determine whether you should be doing negative or positive standard deviation, you should determine the trend. If it is a downtrend and you are looking to short the rips, you will want to select a negative number, like -1.
If it is an uptrend and you want to buy the dips, you should be selecting a positive number, like 1 or 1.5.
Again, I do suggest leaving the indicator to decide for itself, but the options are there for those who wish.
Overall strategy
This is a mean reverting strategy. So if you are a mean reversion trader, this may be of particular interest to you.
Optional
Optionally, you can have the indicator plot the target prices or not, simply toggle this functionality off or on in the settings menu.
Concluding remarks
That is the indicator in a nutshell!
I hope you enjoy it and find it helpful.
Feel free to check out my other Z-Score based indicators if you find this interesting or want to learn more about the power of Z-Score in trading!
Thanks all and safe trades!
Search in scripts for "pullback"
SMA Strategy with Re-Entry Signal (v6 Style)*SMA Trend Strategy with Re-Entry Signal (v6 Edition)*
This indicator is based on a classic moving average trend-following system, enhanced with re-entry signals designed for medium to short-term traders.
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### 📈 Key Features:
1. *Trend Detection Logic:*
- The 30-period SMA (SMA30) is used as the trend filter.
- When the closing price is above the SMA30, the market is considered to be in an uptrend.
2. *Re-Entry Signal:*
- While in an uptrend, if the closing price crosses above the SMA20, a re-entry (add position) signal is triggered.
- These signals are shown with green upward arrows below the bars.
3. *Background Highlighting:*
- Green background: indicates an uptrend.
- Red background: indicates a break below SMA30, suggesting weakening momentum.
4. *Multi-SMA Visualization:*
- Five SMAs are displayed: SMA10, SMA20, SMA30, SMA60, and SMA250.
- This helps visualize both short-term and long-term trend structures.
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### 🔍 Usage Tips:
- Use this script directly on your main chart to monitor trend direction and wait for re-entry signals during pullbacks.
- Combine with other tools like volume, price action, or candlestick patterns to confirm entries.
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### ⚠️ Disclaimer:
- This indicator is for educational and informational purposes only. It does not constitute financial advice or a buy/sell signal.
- Avoid relying solely on this script for trading decisions. Always manage your own risk.
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👨💻 *Developer’s Note:*
This script is 100% manually developed, not copied or auto-generated. It is an original implementation based on my personal trading logic. Suggestions and feedback are welcome!
KhoiHV - Bollinger Bands Buy/Sell Area ProBollinger Bands Buy/Sell Area Pro is a professional-grade indicator designed to identify potential trading opportunities based on Bollinger Bands. It highlights dynamic buy and sell areas by combining price action with volatility, helping traders quickly visualize market conditions.
✨ Key Features
Automatically plots upper, middle, and lower Bollinger Bands.
Marks Buy Areas when price enters oversold zones near the lower band.
Marks Sell Areas when price enters overbought zones near the upper band.
Configurable inputs for length, source, and multiplier to fit any trading style.
Easy-to-read chart visuals with colored zones for instant recognition.
💡 How to Use
Look for Buy Areas near the lower band in trending markets to catch potential rebounds.
Watch for Sell Areas near the upper band to anticipate possible pullbacks.
Combine with volume, momentum, or trend indicators for stronger confirmation.
This tool is especially useful for traders who want a clear, visual edge in spotting volatility-based entries and exits without constantly recalculating signals.
ATR Trailing + Alerts + Price LabelsATR Trend is a clean and intelligent trend-following overlay built for traders who want clarity during both trending and ranging markets.
This indicator dynamically detects bullish and bearish market trends using the Average True Range (ATR), applying a confirmation-based approach to filter out false signals and minor pullbacks.
The trend line is:
Blue 🔵 during uptrends.
Black ⚫ during downtrends.
Continuous, recalculating only when the market truly shifts — not just when price temporarily crosses the line.
When a confirmed trend reversal occurs:
A 🔼 or 🔽 label shows the exact price of the flip.
An alert can be triggered to notify the user immediately.
💡 Features:
✅ Single-line trend direction
✅ Filters out short-term noise
✅ Exact price labeling on trend change
✅ Built-in alerts for up/down trend shifts
⚙️ Inputs:
ATR Period – Length of ATR calculation (default: 14)
ATR Multiplier – Offset for trend line placement (default: 2.0)
Flip Sensitivity – Number of bars required to confirm a trend reversal (default: 3)
This tool is suitable for:
Swing traders avoid false breakouts
Scalpers looking for high-probability trend entries
Algorithmic setups requiring structured trend logic
Volume MAs Oscillator | Lyro RSVolume MAs Oscillator | Lyro RS
Overview
The Volume MAs Oscillator is a powerful volume‑adjusted momentum tool that combines custom‑weighted moving averages on volume‑weighted price with smoothed deviation bands. It offers dynamic insights into trend direction, overbought/oversold conditions, and relative valuation — all within a single indicator
Key Features
Volume‑Adjusted Moving Averages: Moving averages can be volume‑weighted using the following formula: a moving average of (Price × Volume) divided by a moving average of Volume. This formula is applied across more than 14 different moving averages; however, it is not used with the VWMA, as VWMA is inherently a volume-weighted moving average.
Percentage Oscillator: Displays the normalized difference: (source – MA) / MA * 100, centered around zero for easy interpretation of strength and direction.
Deviation Bands: Builds upper and lower bands from standard deviation of the oscillator over a selected lookback, with distinct positive/negative multipliers and optional smoothing to reduce noise.
Inputs: Band Length, Band Smoothing, Positive Band Multiplier, Negative Band Multiplier.
Multi‑Mode Signal System:
1. Trend Mode – Colors oscillator according to breaks above (bullish) or below (bearish) respective bands.
2. Reversion Mode – Inverses color logic: signals overextensions beyond bands as reversion opportunities, greys inside the bands.
3. Valuation Mode – Applies a gradient color scale (UpC ⇄ DnC) to reflect relative valuation strength.
Customizable Visuals: Select from 5 pre‑set palettes—Classic, Mystic, Major Themes, Accented, Royal—or define your own custom bullish/bearish colors.
Chart enhancements include color‑coded oscillator line, deviation bands, glow‑effect midline at zero, background shading and candlestick/bar coloring aligned to signal mode.
Built‑In Signals: Automatically plots ▲ oversold and ▼ overbought markers upon crosses of lower/upper bands (in trend or reversion modes), enhancing signal clarity.
How It Works
MA Calculation – Applies the selected MA type to price × volume (normalized by MA of volume) or direct VWMA.
Oscillator Output – Calculates the % difference of source vs. derived MA.
Band Construction – Computes rolling standard deviation; applies user‑defined multipliers; smooths bands with exponential blending.
Mode-Dependent Coloring & Signals –
• Trend: Highlights strength trends via band cross coloring.
• Reversion: Flags extremes beyond bands as potential pullbacks.
• Valuation: Uses gradient to reflect oscillator’s position relative to recent range.
Signal Markers – Deploys arrows and color rules to flag overbought (▼) or oversold (▲) conditions when bands are breached.
Practical Use
Trend Confirmation – In Trend Mode, use upward price_diff cross above upper band as bullish; downward cross below lower band as bearish.
Mean Reversion – In Reversion Mode, fading extremes beyond bands may precede a retracement.
Relative Valuation – Valuation Mode shines when assessing how extended price_diff is, with gradient colors indicating valuation zones.
Bars/candles color‑coded to oscillator state boosts clarity of market tone and allows for rapid visual scanning.
Customization
Adjust MA type/length to tune responsiveness vs. smoothing.
Configure band settings for volatility sensitivity.
Toggle between signal modes for trend-following or reversion strategies.
Stylish visuals: pick or customize color schemes to match your chart setup.
⚠️Disclaimer
This indicator is a tool for technical analysis and does not provide guaranteed results. It should be used in conjunction with other analysis methods and proper risk management practices. The creators of this indicator are not responsible for any financial decisions made based on its signals.
Mark4ex vWapMark4ex VWAP is a precision session-anchored Volume Weighted Average Price (VWAP) indicator crafted for intraday traders who want clean, reliable VWAP levels that reset daily to match a specific market session.
Unlike the built-in continuous VWAP, this version anchors each day to your chosen session start and end time, most commonly aligned with the New York Stock Exchange Open (9:30 AM EST) through the market close (4:00 PM EST). This ensures your VWAP reflects only intraday price action within your active trading window — filtering out irrelevant overnight moves and providing clearer mean-reversion signals.
Key Features:
Fully configurable session start & end times — adapt it for NY session or any other market.
Anchored VWAP resets daily for true session-based levels.
Built for the New York Open Range Breakout strategy: see how price interacts with VWAP during the volatile first 30–60 minutes of the US market.
Plots a clean, dynamic line that updates tick-by-tick during the session and disappears outside trading hours.
Designed to help you spot real-time support/resistance, intraday fair value zones, and liquidity magnets used by institutional traders.
How to Use — NY Open Range Breakout:
During the first hour of the New York session, institutional traders often define an “Opening Range” — the high and low formed shortly after the bell. The VWAP in this zone acts as a dynamic pivot point:
When price is above the session VWAP, bulls are in control — the level acts as a support floor for pullbacks.
When price is below the session VWAP, bears dominate — the level acts as resistance against bounces.
Breakouts from the opening range often test the VWAP for confirmation or rejection.
Traders use this to time entries for breakouts, retests, or mean-reversion scalps with greater confidence.
⚙️ Recommended Settings:
Default: 9:30 AM to 4:00 PM New York time — standard US equities session.
Adjust hours/minutes to match your target market’s open and close.
👤 Who is it for?
Scalpers, day traders, prop traders, and anyone trading the NY Open, indices like the S&P 500, or highly liquid stocks during US cash hours.
🚀 Why use Mark4ex VWAP?
Because a properly anchored VWAP is a trader’s real-time institutional fair value, giving you better context than static moving averages. It adapts live to volume shifts and helps you follow smart money footprints.
This indicator will reconfigure every day, anchored to the New York Open, it will also leave historical NY Open VWAP for study purpose.
5 DMA (Close Above) Buy5 DMA (Close Above) Buy
This indicator identifies momentum-based breakout signals when a green candle closes above the 5-day Simple Moving Average (5DMA) for the first time after price was previously below it.
🔹 Signal Logic:
The script plots a green arrow below the candle when a bullish candle (close > open) closes above the 5DMA
Signals are only shown once per trend leg
The signal resets only after price closes back below the 5DMA
🔔 Built-in Alerts:
Use the included alert condition: "Buy Alert" to be notified in real time whenever a valid signal occurs.
This tool is ideal for traders seeking simple price-action confirmations to catch early trend continuation after pullbacks.
Supply and Demand Zones🔍 Supply and Demand Zones
by The_Forex_Steward
This indicator automatically identifies Supply and Demand Zones based on aggregated synthetic candles, helping traders pinpoint potential reversal or breakout levels with clarity and precision.
🧠 How It Works:
This tool aggregates price data over a set number of candles (defined by the Aggregation Factor ) to create "synthetic candles" that smooth out noise and highlight significant institutional price activity. These candles are then analyzed to detect bullish or bearish order blocks , which are visualized as zones:
-Demand Zones (Green) : Formed when price breaks above the high of a previous bearish synthetic candle.
-Supply Zones (Red) : Formed when price breaks below the low of a previous bullish synthetic candle.
These areas often represent key institutional interest where price is likely to react.
⚙️ Key Features:
-Aggregation Factor : Groups candles to form larger, synthetic ones. Higher values smooth price and reduce noise.
-Custom Zone Length : Define how far zones extend forward (up to 500 bars).
-Mitigation Logic : Choose whether to auto-delete zones once price breaks through them.
-Visual Customization : Customize zone colors and borders to suit your charting style.
-Alerts : Get notified when new Supply or Demand zones are formed.
📈 How to Use It:
1. Trend Trading : Use zones as dynamic support/resistance to enter with trend pullbacks.
2. Reversals : Look for price reactions at untested zones for potential counter-trend setups.
3. Breakouts : Monitor for zone breaks that signal strong momentum or shifts in market structure.
4. Confluence : Combine with other indicators (like RSI or volume) for more robust trade setups.
🔔 Alerts:
Receive alerts when new demand or supply zones are formed so you can take action in real time.
✅ Recommended Settings:
For intraday trading : Use lower aggregation values (e.g., 3–5).
For swing/position trading : Higher values (e.g., 6–10) may give better structure.
Balanced Price Range | Flux Charts💎 GENERAL OVERVIEW
Introducing our new Balanced Price Range (BPR) indicator! A Balanced Price Range is a trading concept used by price action traders. It is detected by finding overlapping area between two contrary Fair Value Gaps (FVGs). These areas can be used as entry points during market pullbacks. For more information about the process, please check the "HOW DOES IT WORK ?" section.
Balanced Price Range Features :
Balanced Price Range Detection : Identifies areas where bullish and bearish FVGs overlap, suggesting a zone of price equilibrium.
Customizable FVG & BPR Detection : You can fine-tune FVG detection and sensitivity for BPR detection to your liking.
Retest Labels : Bullish & Bearish retest labels will be rendered for BPRs.
Alerts : You can set alerts for Bullish & Bearish BPR detection and their retests.
🚩 UNIQUENESS
This indicator doesn't just detect standard FVGs but specifically looks for areas where bullish and bearish IFVGs (Invalidated Fair Value Gaps) overlap, defining a Balanced Price Range. It also actively manages and updates identified BPR zones, removing them when they are invalidated or remain untouched for a specified period. It highlights and alerts users to retests of established BPR zones, signaling potential trading opportunities. Users can tailor the appearance of the BPR zones and retest markers, as well as configure specific alerts for new BPR formations and retests.
📌 HOW DOES IT WORK ?
A Fair Value Gap generally occur when there is an imbalance in the market. They can be detected by specific formations within the chart. The indicator first detects bullish & bearish FVG zones according to their formations on chart. Then, they are dynamically tracked and flagged as invalidated if the price crosses them, turning them into IFVGs. When a FVG & IFVG of the same type overlaps, the indicator combines them into a single BPR of corresponding type. The detected BPR is updated as new data comes in, and renders retests labels as they occur. A bullish BPR can be used to find long trade entry opportunities, while a bearish BPR can be used to find short trade entry opportunities. Retests can also indicate potential movements in the corresponding direction of the BPR. Users can set-up alerts for BPR detection & BPR retests and will get notified as they occur.
⚙️ SETTINGS
Show Historic Zones: If enabled, invalidated or expired BPR zones will remain visible on the chart.
Balanced Price Range:
FVG Detection Method: Determines the criteria for the bar types forming the initial FVG.
Same: All three bars forming the FVG must be of the same type (all bullish or all bearish).
Mixed: The bar types must vary (a mix of bullish and bearish bars).
All: Bar types can vary or be the same.
FVG Invalidation Method: Determines which part of the candle (wick or close) invalidates the initial FVG.
BPR Invalidation Method: Determines which part of the candle (wick or close) invalidates the Balanced Price Range.
Sensitivity: Adjusts the sensitivity of FVG detection. Higher values may identify fewer, larger BPRs, while lower values may detect more, smaller BPRs.
Labels: Toggles the display of text labels on the identified zones.
Retests: Enables or disables the detection and visualization of BPR retests.
6 Dynamic EMAs by Koenigsegg🚀 6 Dynamic EMAs by Koenigsegg
Take control of your chart with ultimate flexibility. This tool gives you 6 customizable EMAs across any timeframe, helping you read the market like a pro — whether you're scalping seconds or swinging days. Built for precision, designed for dominance.
The combinations? Endless. Mix and match any EMA lengths and timeframes for tailored confluence — exactly how elite traders operate.
🔑 Key Features
✅ 6 Fully Customizable EMAs
⏳ Multi-Timeframe Support (from seconds to months)
🎨 Custom Colors & Thickness for each EMA
🚨 Built-in Cross Alerts for instant trade signals
🧠 Clean, efficient logic using request.security()
🔁 Dynamically toggle EMAs on/off
⚙️ Lightweight for smooth chart performance
🧩 Endless combo potential — confluence on your terms
📈 What Is an EMA?
The EMA is a type of moving average that adjusts more quickly to recent price changes than a Simple Moving Average (SMA). It does this by giving exponentially more weight to the most recent candles.
⚙️ How Does It Function?
Smoothing Price Data:
It takes the average of closing prices over a chosen period (like 20 or 50 candles), but gives more influence to the latest prices.
Reacts Quickly to Price Shifts:
Since recent data is weighted more heavily, the EMA adjusts faster to sudden price changes — helping you spot trend reversals or momentum shifts earlier.
Dynamic Support & Resistance:
Traders often use EMAs as moving support/resistance levels. Price often "respects" EMAs in trending markets — bouncing off them during pullbacks.
Trend Confirmation:
- If price is above the EMA, the market is likely in an uptrend.
- If price is below the EMA, the market is likely in a downtrend.
- Multiple EMAs (like 12/21 or 50/200) crossing each other are used for entry/exit signals.
💡 Example:
If you use a 21 EMA on a chart, it shows you the average price of the last 21 candles, but the most recent ones weigh heavier. This makes the EMA more responsive than an SMA, and better for short-term or active trading.
📊 Why EMAs Matter — and How Multi-Timeframe EMAs Give You the Edge
Exponential Moving Averages (EMAs) are essential tools for identifying trend direction, momentum shifts, and dynamic support/resistance. Because they weight recent price data more heavily, EMAs adapt quickly to changing market conditions, giving traders early insight into reversals or continuations.
Where this script shines is in its multi-timeframe (MTF) capability. For example, plotting a daily EMA on a 4H chart gives you high-level directional guidance while still allowing precision entries. This enables confluence between LTF (low timeframe) signals and HTF (high timeframe) momentum — a crucial edge used by institutional-level traders.
You can configure the tool to run classic combos like the 12/21 crossover on your current chart, while layering in a 50 or 200 EMA from a higher timeframe for macro confirmation. The 6th EMA, colored light blue by default, is perfect for adding one final level of structure insight — often used as a long-term anchor or trend bias marker.
Whether you're riding the wave or catching the reversal, these EMAs serve as your adaptable compass in every environment.
🎯 Purpose
This indicator was built to give traders a clear, responsive, and multi-timeframe edge using dynamic Exponential Moving Averages. Whether you're trend-following, identifying momentum shifts, or building a confluence system — these 6 EMAs are here to align with your strategy and style.
💡 Pro Tip
Instead of cluttering your chart with multiple EMA indicators, this script consolidates all into one sleek tool. You can toggle off bands you don't currently need, like running only the 12/21 EMAs on your active chart timeframe, while adding the 12/21 EMAs from a higher timeframe to guide trade decisions.
With this setup, you're not just reacting — you're orchestrating your trades with intention.
⚠️ Disclaimer
This script is for educational and informational purposes only. It does not constitute financial advice. Always do your own research and trade responsibly. Past performance does not guarantee future results.
5ma + O’Neil & Minervini Buy ConditionIndicator Overview
5ma + O’Neil & Minervini Buy Condition is an original TradingView indicator that extends beyond a simple collection of standard moving averages by offering:
- Five Fully Independent Lines : Each of MA1–MA5 can be configured as SMA, EMA, WMA, or VWMA with its own period and data source. This level of customization unlocks unique combinations no existing script provides.
- Synergy of Multiple Timeframes : Default settings (10, 21, 50, 200, 325) reflect ultra‑short, short, medium, long, and volume‑weighted long‑term perspectives. The layered structure functions as a multi‑filter, sharpening entry signals and trend confirmation beyond any single MA.
- Integrated Buy Conditions : Built‑in O’Neil and Minervini buy filters use fixed SMA‑based rules (50 & 200 SMA rising within 15% of 52‑week high; 10 > 21 > 50 SMA rising within high/low thresholds), plus a combined condition highlighting when both methods align.
- Clean Visualization & Style Controls : Background coloring for each buy condition appears only in the Style tab under clearly named parameters (O’Neil Buy Condition, Minervini Buy Condition, Both Conditions). MA lines support transparent default colors and customizable line width for optimal readability without clutter.
Calculation & Logic
SMA: (P₁ + P₂ + … + Pₙ) ÷ N
EMA: α = 2 ÷ (N + 1)
EMA_today = (Price_today – EMA_yesterday) × α + EMA_yesterday
WMA: (P₁×N + P₂×(N–1) + … + Pₙ×1) ÷
VWMA: Σ(Pᵢ×Vᵢ) ÷ Σ(Vᵢ) for i = 1…N
```
Buy Condition Logic
- O’Neil: Price > 50 SMA & 200 SMA (both rising) **and** within 15% of the 52‑week high.
- Minervini : 10 SMA > 21 SMA > 50 SMA (both short‑term SMAs rising) **and** within 25% of the 52‑week high **and** at least 25% above the 52‑week low.
- Combined : Both O’Neil and Minervini conditions true.
Usage Examples
1. Short‑Mid Cross : Observe MA1/MA2 crossover while MA3/MA4 confirm trend strength.
2. Volume‑Weighted Long‑Term : Use VWMA as MA5 to filter institutional‑strength pullbacks.
3. Multi‑Filter Entry : Look for purple background (Both Conditions) on daily chart as high‑confidence entry.
Why It’s Unique
- Not a Mash‑Up : Though built on standard MA formulas, the customizable layering and built‑in buy filters create a novel multi‑dimensional analysis tool.
- Trader‑Friendly : Detailed comments in the code explain parameter choices, calculation methods, and practical entry scenarios so that even Pine novices can understand the underlying mechanics.
- Publication‑Ready : Description and code demonstrate originality, add clear value, and comply with house‑rule requirements by explaining why and how components interact, not just listing features.
- Combined Custom MA & Buy Conditions : By integrating customizable moving averages with built-in buy filters, users can easily recognize O’Neil and Minervini recommended setups.
Green*DiamondGreen*Diamond (GD1)
Unleash Dynamic Trading Signals with Volatility and Momentum
Overview
GreenDiamond is a versatile overlay indicator designed for traders seeking actionable buy and sell signals across various markets and timeframes. Combining Volatility Bands (VB) bands, Consolidation Detection, MACD, RSI, and a unique Ribbon Wave, it highlights high-probability setups while filtering out noise. With customizable signals like Green-Yellow Buy, Pullback Sell, and Inverse Pullback Buy, plus vibrant candle and volume visuals, GreenDiamond adapts to your trading style—whether you’re scalping, day trading, or swing trading.
Key Features
Volatility Bands (VB): Plots dynamic upper and lower bands to identify breakouts or reversals, with toggleable buy/sell signals outside consolidation zones.
Consolidation Detection: Marks low-range periods to avoid choppy markets, ensuring signals fire during trending conditions.
MACD Signals: Offers flexible buy/sell conditions (e.g., cross above signal, above zero, histogram up) with RSI divergence integration for precision.
RSI Filter: Enhances signals with customizable levels (midline, oversold/overbought) and bullish divergence detection.
Ribbon Wave: Visualizes trend strength using three EMAs, colored by MACD and RSI for intuitive momentum cues.
Custom Signals: Includes Green-Yellow Buy, Pullback Sell, and Inverse Pullback Buy, with limits on consecutive signals to prevent overtrading.
Candle & Volume Styling: Blends MACD/RSI colors on candles and scales volume bars to highlight momentum spikes.
Alerts: Set up alerts for VB signals, MACD crosses, Green*Diamond signals, and custom conditions to stay on top of opportunities.
How It Works
Green*Diamond integrates multiple indicators to generate signals:
Volatility Bands: Calculates bands using a pivot SMA and standard deviation. Buy signals trigger on crossovers above the lower band, sell signals on crossunders below the upper band (if enabled).
Consolidation Filter: Suppresses signals when candle ranges are below a threshold, keeping you out of flat markets.
MACD & RSI: Combines MACD conditions (e.g., cross above signal) with RSI filters (e.g., above midline) and optional volume spikes for robust signals.
Custom Logic: Green-Yellow Buy uses MACD bullishness, Pullback Sell targets retracements, and Inverse Pullback Buy catches reversals after downmoves—all filtered to avoid consolidation.
Visuals: Ribbon Wave shows trend direction, candles blend momentum colors, and volume bars scale dynamically to confirm signals.
Settings
Volatility Bands Settings:
VB Lookback Period (20): Adjust to 10–15 for faster markets (e.g., 1-minute scalping) or 25–30 for daily charts.
Upper/Lower Band Multiplier (1.0): Increase to 1.5–2.0 for wider bands in volatile stocks like AEHL; decrease to 0.5 for calmer markets.
Show Volatility Bands: Toggle off to reduce chart clutter.
Use VB Signals: Enable for breakout-focused trades; disable to focus on Green*Diamond signals.
Consolidation Settings:
Consolidation Lookback (14): Set to 5–10 for small caps (e.g., AEHL) to catch quick consolidations; 20 for higher timeframes.
Range Threshold (0.5): Lower to 0.3 for stricter filtering in choppy markets; raise to 0.7 for looser signals.
MACD Settings:
Fast/Slow Length (12/26): Shorten to 8/21 for scalping; extend to 15/34 for swing trading.
Signal Smoothing (9): Reduce to 5 for faster signals; increase to 12 for smoother trends.
Buy/Sell Signal Options: Choose “Cross Above Signal” for classic MACD; “Histogram Up” for momentum plays.
Use RSI Div + MACD Cross: Enable for high-probability reversal signals.
RSI Settings:
RSI Period (14): Drop to 10 for 1-minute charts; raise to 20 for daily.
Filter Level (50): Set to 55 for stricter buys; 45 for sells.
Overbought/Oversold (70/30): Tighten to 65/35 for small caps; widen to 75/25 for indices.
RSI Buy/Sell Options: Select “Bullish Divergence” for reversals; “Cross Above Oversold” for momentum.
Color Settings:
Adjust bullish/bearish colors for visibility (e.g., brighter green/red for dark themes).
Border Thickness (1): Increase to 2–3 for clearer candle outlines.
Volume Settings:
Volume Average Length (20): Shorten to 10 for scalping; extend to 30 for swing trades.
Volume Multiplier (2.0): Raise to 3.0 for AEHL’s volume surges; lower to 1.5 for steady stocks.
Bar Height (10%): Increase to 15% for prominent bars; decrease to 5% to reduce clutter.
Ribbon Settings:
EMA Periods (10/20/30): Tighten to 5/10/15 for scalping; widen to 20/40/60 for trends.
Color by MACD/RSI: Disable for simpler visuals; enable for dynamic momentum cues.
Gradient Fill: Toggle on for trend clarity; off for minimalism.
Custom Signals:
Enable Green-Yellow Buy: Use for momentum confirmation; limit to 1–2 signals to avoid spam.
Pullback/Inverse Pullback % (50): Set to 30–40% for small caps; 60–70% for indices.
Max Buy Signals (1): Increase to 2–3 for active markets; keep at 1 for discipline.
Tips and Tricks
Scalping Small Caps (e.g., AEHL):
Use 1-minute charts with VB Lookback = 10, Consolidation Lookback = 5, and Volume Multiplier = 3.0 to catch $0.10–$0.20 moves.
Enable Green-Yellow Buy and Inverse Pullback Buy for quick entries; disable VB Signals to focus on Green*Diamond logic.
Pair with SMC+ green boxes (if you use them) for reversal confirmation.
Day Trading:
Try 5-minute charts with MACD Fast/Slow = 8/21 and RSI Period = 10.
Enable RSI Divergence + MACD Cross for high-probability setups; set Max Buy Signals = 2.
Watch for volume bars turning yellow to confirm entries.
Swing Trading:
Use daily charts with VB Lookback = 30, Ribbon EMAs = 20/40/60.
Enable Pullback Sell (60%) to exit after rallies; disable RSI Color for cleaner candles.
Check Ribbon Wave gradient for trend strength—bright green signals strong bulls.
Avoiding Noise:
Increase Consolidation Threshold to 0.7 on volatile days to skip false breakouts.
Disable Ribbon Wave or Volume Bars if the chart feels crowded.
Limit Max Buy Signals to 1 for disciplined trading.
Alert Setup:
In TradingView’s Alerts panel, select:
“GD Buy Signal” for standard entries.
“RSI Div + MACD Cross Buy” for reversals.
“VB Buy Signal” for breakout plays.
Set to “Once Per Bar Close” for confirmed signals; “Once Per Bar” for scalping.
Backtesting:
Replay on small caps ( Float < 5M, Price $0.50–$5) to test signals.
Focus on “GD Buy Signal” with yellow volume bars and green Ribbon Wave.
Avoid signals during gray consolidation squares unless paired with RSI Divergence.
Usage Notes
Markets: Works on stocks, forex, crypto, and indices. Best for volatile assets (e.g., small-cap stocks, BTCUSD).
Timeframes: Scalping (1–5 minutes), day trading (15–60 minutes), or swing trading (daily). Adjust settings per timeframe.
Risk Management: Combine with stop-losses (e.g., 1% risk, $0.05 below AEHL entry) and take-profits (3–5%).
Customization: Tweak inputs to match your strategy—experiment in replay to find your sweet spot.
Disclaimer
Green*Diamond is a technical tool to assist with trade identification, not a guarantee of profits. Trading involves risks, and past performance doesn’t predict future results. Always conduct your own analysis, manage risk, and test settings before live trading.
Feedback
Love Green*Diamond? Found a killer setup?
MA Distance (% and ATR) + Threshold CountMA Distance (% & ATR) + Threshold Count
This script visualizes how far price is extended from key moving averages using both percentage and ATR-based distance. It includes a dynamic threshold system that tracks how unusually extended price is, based on historical volatility.
🔍 Features:
Calculates distance from:
10 EMA, 20 SMA, 50 SMA, 100 SMA, 200 SMA
Measures both:
% distance from each MA
ATR-multiple distance from each MA
Automatically calculates dynamic upper/lower thresholds using a rolling standard deviation
Plots a colored dot when distance exceeds these thresholds
Dots appear above or below the bar depending on direction
Color-coded summary table displays:
% distance
ATR distance
Threshold extremes
Total number of threshold hits
🎯 Customization:
Toggle which MAs to display in the table
Set your own lookback window and threshold sensitivity (via stdev multiplier)
Show/hide dots based on how many thresholds are hit
Use this tool to identify when price is overextended from its moving averages and approaching historically significant levels of deviation. Great for spotting mean reversion setups, parabolic runs, or deep pullbacks.
SuperTrend Bar Counter - DolphinTradeBot
OVERVIEW
This indicator calculates the lengths of upward and downward trends based on the specified SuperTrend settings and timeframe. It then takes the average length of the entered number of swings and compares the current trend durations with these averages. The main goal is to anticipate potential reversals in advance.
HOW IS IT WORK ?
The indicator actually contains two different but conceptually similar metrics.
The first part; shows how long the Supertrend stays in an upward or downward trend in real time. Additionally, it analyzes how close the current value is to the average of the Supertrend bar count for the given input.
The second part; aims to provide a different perspective on general trend analysis. It calculates the average duration of upward and downward trends in bars based on the SuperTrend indicator settings within a specified period and timeframe. If, contrary to expectations, downward trends last longer than upward trends, the background is colored green, indicating a prediction that the trend will continue upward.
Explanation of the second part logic: As you know, moving averages or similar approaches that follow the price are often correct when looking back retrospectively, but they cannot serve as leading indicators in real-time trading.That's why, when performing trend analysis, I wanted to introduce a completely different perspective based on price movement, yet still grounded in price action itself.
This phenomenon is partly due to the nature of the SuperTrend itself. After strong price movements, SuperTrend tends to reverse direction much more quickly during pullbacks. Following a strong upward move, a downward trend is detected much earlier and tends to last longer. The indicator provides an alternative perspective by analyzing which directional movement occurs more rapidly and uses this insight for trend prediction.
HOW TO USE ?
It can be used to identify potential price reversals or to assess whether the price is generally cheap or expensive.
In the settings section, you can adjust the SuperTrend parameters and timeframes for the values displayed in the table.
In the second part, you can configure the values used for general trend analysis.
NOTE
Things to be aware of: As the chart's timeframe decreases, pulling data from higher timeframes becomes more difficult. For example, when the chart is set to a 5-minute timeframe, it may fail to retrieve swing periods from the daily timeframe. Similarly, on a 4-hour chart, when calculating the average swing, there might be enough data for only 5 periods instead of 20.
Please keep in mind that this indicator was created solely to provide an idea. It should only be considered as a perspective or a supporting tool that influences your decision by no more than 5% at most.
Stock Highs TrackerThis indicator tracks key stock price levels including the all-time high (ATH), 52-week high, and current price.
It calculates the percentage difference of the current price from both the ATH and 52-week high.
The data is displayed in a table at the top-right corner of the chart, allowing traders to quickly assess the stock’s performance relative to its historical highs.
This is useful for identifying stocks trading near their highs or experiencing significant pullbacks.
Dekkapok Premium Prices and EMA360Overview:
The EMA360 Premium Levels indicator is designed to help traders identify key price levels above the EMA360 (Exponential Moving Average) on a daily timeframe. These levels, referred to as "premium levels" are calculated as multiples of the EMA360 and can act as potential resistance or support zones for price action analysis.
Features:
EMA360 Calculation:
The script calculates the EMA360 using the daily timeframe (or any user-specified timeframe).
EMA360 is plotted as a bold blue line for clear visibility.
Premium Levels:
Multiple levels above the EMA360 are plotted as horizontal green lines.
These levels are calculated by multiplying the EMA360 value by user-defined multipliers (e.g., 1.2x, 1.3x, etc.).
Premium levels can help identify overbought or extended price zones relative to EMA360.
Customizable Inputs:
EMA Length: Default is set to 360, but users can adjust the EMA length as needed.
Timeframe: EMA360 is calculated using the daily timeframe by default, but any timeframe can be selected.
Multipliers: Traders can input their desired multipliers (e.g., 1.2, 1.3, 1.5) as a comma-separated list.
Clean Visualization:
EMA360 and premium levels are plotted directly on the price chart for intuitive analysis.
Premium level lines are semi-transparent green to minimize clutter while maintaining focus on critical levels.
Use Cases:
Trend Analysis: Use the EMA360 to identify the broader market trend. Prices above the EMA360 generally indicate an uptrend, while prices below may indicate a downtrend.
Overextension Zones: Premium levels help traders identify zones where the price may be overbought or overextended relative to EMA360.
Dynamic Support/Resistance: The premium levels can act as dynamic resistance zones during uptrends and support zones during pullbacks.
How to Use:
Apply the indicator to your chart in TradingView.
Observe the EMA360 line to understand the market trend.
Use the green premium level lines to identify potential resistance zones as the price moves above the EMA360.
Customization Options:
Adjust the EMA Length and Timeframe to match your trading style.
Modify the Premium Multipliers to suit your market analysis needs (e.g., add or reduce levels like 1.1x, 1.8x, etc.).
This indicator is especially useful for trend-following traders who want to leverage EMA-based levels for strategic decision-making.
- Dekkapok
Dekkapok Premium Prices and EMA360 [Clean Ver.]Overview:
The EMA360 Premium Levels indicator is designed to help traders identify key price levels above the EMA360 (Exponential Moving Average) on a daily timeframe. These levels, referred to as "premium levels" are calculated as multiples of the EMA360 and can act as potential resistance or support zones for price action analysis.
Features:
EMA360 Calculation:
The script calculates the EMA360 using the daily timeframe (or any user-specified timeframe).
EMA360 is plotted as a bold blue line for clear visibility.
Premium Levels:
Multiple levels above the EMA360 are plotted as horizontal green lines.
These levels are calculated by multiplying the EMA360 value by user-defined multipliers (e.g., 1.2x, 1.3x, etc.).
Premium levels can help identify overbought or extended price zones relative to EMA360.
Customizable Inputs:
EMA Length: Default is set to 360, but users can adjust the EMA length as needed.
Timeframe: EMA360 is calculated using the daily timeframe by default, but any timeframe can be selected.
Multipliers: Traders can input their desired multipliers (e.g., 1.2, 1.3, 1.5) as a comma-separated list.
Clean Visualization:
EMA360 and premium levels are plotted directly on the price chart for intuitive analysis.
Premium level lines are semi-transparent green to minimize clutter while maintaining focus on critical levels.
Use Cases:
Trend Analysis: Use the EMA360 to identify the broader market trend. Prices above the EMA360 generally indicate an uptrend, while prices below may indicate a downtrend.
Overextension Zones: Premium levels help traders identify zones where the price may be overbought or overextended relative to EMA360.
Dynamic Support/Resistance: The premium levels can act as dynamic resistance zones during uptrends and support zones during pullbacks.
How to Use:
Apply the indicator to your chart in TradingView.
Observe the EMA360 line to understand the market trend.
Use the green premium level lines to identify potential resistance zones as the price moves above the EMA360.
Customization Options:
Adjust the EMA Length and Timeframe to match your trading style.
Modify the Premium Multipliers to suit your market analysis needs (e.g., add or reduce levels like 1.1x, 1.8x, etc.).
This indicator is especially useful for trend-following traders who want to leverage EMA-based levels for strategic decision-making.
- Dekkapok
Fibonacci Trend [ChartPrime]Fibonacci Trend Indicator
This powerful indicator leverages supertrend analysis to detect market direction while overlaying dynamic Fibonacci levels to highlight potential support, resistance, and optimal trend entry zones. With its straightforward design, it is perfect for traders looking to simplify their workflow and enhance decision-making.
⯁ KEY FEATURES AND HOW TO USE
⯌ Supertrend Trend Identification :
The indicator uses a supertrend algorithm to identify market direction. It displays purple for downtrends and green for uptrends, ensuring quick and clear trend analysis.
⯌ Fibonacci Levels for Current Swings :
Automatically calculates Fibonacci retracement levels (0.236, 0.382, 0.618, 0.786) for the current swing leg.
- These levels act as key zones for potential support, resistance, and trend continuation.
- The high and low swing points are labeled with exact prices, ensuring clarity.
- If the swing range is insufficient (less than five times ATR), Fibonacci levels are not displayed, avoiding irrelevant data.
⯌ Extended Fibonacci Levels :
User-defined extensions project Fibonacci levels into the future, aiding traders in planning price targets or projecting key zones.
⯌ Optimal Trend Entry Zone :
A filled area between 0.618 and 0.786 levels visually highlights the optimal entry zone for trend continuation. This allows traders to refine their entry points during pullbacks.
⯌ Diagonal Trend Line :
A dashed diagonal line connects the swing high and low, visually confirming the range and trend strength of the current swing.
⯌ Visual Labels for Fibonacci Levels :
Each Fibonacci level is marked with a label displaying its value for quick reference.
⯁ HOW TRADERS CAN POTENTIALLY USE THIS TOOL
Fibonacci Retracements:
Use the Fibonacci retracement levels to find key support or resistance zones where the price may pull back before continuing its trend.
Example: Enter long trades when the price retraces to 0.618–0.786 levels in an uptrend.
Fibonacci Extensions:
Use Fibonacci extensions to project future price targets based on the current trend's swing leg. Levels like 127.2% and 161.8% are commonly used as profit-taking zones.
Reversal Identification:
Spot potential reversals by monitoring price reactions at key Fibonacci retracement levels (e.g., 0.236 or 0.382) or the swing high/low.
Optimal Trend Entries:
The filled zone between 0.618 and 0.786 is a statistically strong area for entering a position in the direction of the trend.
Example: Enter long positions during retracements to this range in an uptrend.
Risk Management:
Set stop-losses below key Fibonacci levels or the swing low/high, and take profits at extension levels, enhancing your trade management strategies.
⯁ CONCLUSION
The Fibonacci Trend Indicator is a straightforward yet effective tool for identifying trends and key Fibonacci levels. It simplifies analysis by integrating supertrend-based trend identification with Fibonacci retracements, extensions, and optimal entry zones. Whether you're a beginner or experienced trader, this indicator is an essential addition to your toolkit for trend trading, reversal spotting, and risk management.
Sell Signal - William O'Neil's Rule VisualizationThis indicator might be helpful for traders looking to visualize William O’Neil’s sell condition, a well-known concept in his trading strategies. A sell signal is triggered when:
1. Volume increases compared to the previous day.
2. The price drops by a user-defined percentage (default: 0.2% or more).
The indicator highlights the background for bars meeting these conditions and adds a subtle circle above them. You can adjust the drop rate in the settings to match your preferences.
It could serve as a useful tool for identifying potential distribution days or profit-taking signals, helping traders manage risk during market pullbacks.
このインジケーターは、ウィリアム・オニールの売り抜け条件を可視化したもので、トレーダーの皆さんに役立つかもしれません。シグナルは次の条件を満たすと発生します：
1. 出来高が前日より増加している。
2. 価格がユーザー指定の割合（デフォルトは0.2%以上）で下落している。
条件を満たしたバーには背景色が付き、控えめな丸印が表示されます。設定で下落率を自由に調整することもできます。
このツールは、分配日や利益確定のシグナルを特定するのに役立つかもしれません。市場の調整局面でのリスク管理にご活用ください。
Stochastic RSI Strategy with Inverted Trend LogicOverview:
The Stochastic RSI Strategy with Inverted Trend Logic is a custom-built Pine Script indicator that leverages the Stochastic RSI and a 200-period moving average to generate precise buy and sell signals. It is specifically designed for traders looking to capture opportunities during short-term market movements while factoring in broader trend conditions.
Key Components:
Stochastic RSI:
Stochastic RSI is a momentum indicator that applies stochastic calculations to the standard Relative Strength Index (RSI), rather than price data. This makes it particularly sensitive to market momentum changes, which is essential for timing entries and exits.
K Line and D Line: The indicator calculates and smooths both the K and D lines to capture momentum shifts more accurately.
200-Period Moving Average:
The 200-period Simple Moving Average (SMA) is used as a trend filter.
If the price is above the 200-period SMA, the trend is considered bullish.
If the price is below the 200-period SMA, the trend is considered bearish.
Inverted Trading Logic:
The trading logic is inverted from traditional strategies:
Long trades are executed only when the market is in a bearish trend (price below the 200-period moving average).
Short trades are executed only when the market is in a bullish trend (price above the 200-period moving average).
This inversion allows traders to take advantage of potential trend reversals by entering positions in the opposite direction of the prevailing trend.
Trading Rules:
Long Trade Conditions (Buy Signal):
The Stochastic RSI K line must be below 5 for 4 consecutive candles (oversold condition).
The price must be below the 200-period SMA (indicating a bearish trend).
Once these conditions are met, the indicator will generate a buy signal on the close of the 4th candle.
Exit Condition: The long position is exited when the Stochastic RSI K line crosses above 50 (neutral level).
Short Trade Conditions (Sell Signal):
The Stochastic RSI K line must be above 95 for 4 consecutive candles (overbought condition).
The price must be above the 200-period SMA (indicating a bullish trend).
Once these conditions are met, the indicator will generate a sell signal on the close of the 4th candle.
Exit Condition: The short position is exited when the Stochastic RSI K line crosses below 50.
Visual Signals on the Chart:
Buy Signal:
A green triangle below the bar is displayed on the chart when a buy condition is met, indicating a potential long trade opportunity.
The text "BUY" is displayed for further clarity.
Sell Signal:
A red triangle above the bar is displayed on the chart when a sell condition is met, indicating a potential short trade opportunity.
The text "SELL" is displayed for further clarity.
How to Use the Indicator:
Attach the Indicator: Apply the indicator to your desired chart (works on any time frame, but is optimized for short- to medium-term trading).
Monitor Signals: Watch for buy and sell signals on the chart:
Buy Signal: Enter long positions when a green triangle appears below the candle.
Sell Signal: Enter short positions when a red triangle appears above the candle.
Exit Positions: Exit long positions when the Stochastic RSI crosses above the 50 level, and exit short positions when the Stochastic RSI crosses below the 50 level.
Indicator Display:
Stochastic RSI: A visual representation of the Stochastic RSI (K and D lines) is plotted below the price chart, with overbought (100), midpoint (50), and oversold (0) levels clearly marked.
200-period SMA: The 200-period moving average is plotted on the price chart, giving a clear indication of the broader trend direction (orange line).
Key Benefits:
Reversal Opportunities: This strategy allows traders to capture reversal trades by using an inverted logic where longs are taken in bearish conditions and shorts are taken in bullish conditions. This can help capitalize on potential trend exhaustion and reversals.
Clear and Simple Rules: The use of Stochastic RSI and the 200-period moving average ensures the strategy remains simple yet effective, making it easy for traders to follow.
Visual Alerts: The indicator provides clear buy and sell signals, making it easy for traders to spot trading opportunities in real-time without needing to monitor multiple conditions manually.
Limitations and Considerations:
Trend Changes: Since the strategy is designed to work during trend reversals, it might not perform as well during strong, prolonged trends where price continues moving in one direction without significant pullbacks.
Time Frame Suitability: While the indicator works on any time frame, shorter time frames may result in more frequent signals and higher trade frequency, whereas higher time frames will provide fewer but potentially stronger signals.
Conclusion:
The Stochastic RSI Strategy with Inverted Trend Logic is a powerful tool for traders looking to capture market reversals by entering trades against the prevailing trend direction based on momentum exhaustion. Its simple and clear logic, combined with easy-to-understand visual signals, makes it a versatile indicator for both novice and experienced traders.
ABCD Projection [Trendoscope®]Over the years, we have extensively explored and published numerous scripts centered around various chart patterns, including Harmonic Patterns, Reversal Patterns, Elliott Waves, and more. Our expertise in these areas has led to frequent requests for an indicator based on the ABCD pattern. Although we didn't include it as part of our Harmonic Patterns collection, the development of a dedicated ABCD Projection Indicator has always been a priority for us.
🎲 Overview of the ABCD Projection Indicator
The ABCD Projection Indicator is designed to identify and project ABCD patterns using a Zigzag-based approach. This pattern, characterized by alternating pivot highs and lows labeled as A, B, C, and D, is particularly significant in trending markets where it signifies trend continuation following deep pullbacks.
The indicator works by confirming the ABC pivots and projecting the D pivot based on the established price swings. Since ABCD patterns are most effective in trending environments, the indicator focuses on filtering patterns where the retracement from the C pivot has not compromised the trade's potential. Specifically, it ensures that the starting point (S)—where the pattern is detected—has not retraced beyond a defined threshold, preserving the opportunity to execute a trade with the goal of reaching the projected D pivot.
Additionally, the ABCD Projection Indicator considers the retracement ratio from the C pivot, which plays a crucial role in risk management. A higher retracement ratio reduces the stop distance (from pivot A to the entry point S) while increasing the distance to the target (pivot D), thereby enhancing the reward/risk ratio for trades.
🎲 Components of the ABCD Projection Indicator
The ABCD Projection Indicator comprises several key components:
A, B, C Pivots and Zigzag Wave : These elements form the foundational structure of the ABCD pattern.
S Point : This is the location where the pattern is identified, positioned a few bars away from the confirmed C pivot.
Estimated D Pivot : The D pivot is projected based on the A, B, and C price levels. The time or distance to the D pivot is influenced by the starting point S.
Mini Stats Table : Located in the top right corner, this table displays win/loss ratios and risk/reward data for both bullish and bearish scenarios.
Fibonacci Levels : Calculated from the C to D pivots, these levels are provided as a reference for additional analysis.
🎲 Indicator Settings
The settings for the ABCD Projection Indicator are minimal and intuitive, with tooltips provided to guide users through the configuration process.
Money Flow DivergenceThe Money Flow Divergence indicator is designed to help traders identify periods when there is a significant divergence between the growth of the U.S. M2 money supply and the S&P 500 index (SPX).
This divergence can provide insights into potential market turning points, making it a valuable tool for long-term investors and traders looking to capitalize on macroeconomic trends.
How It Works:
Data Sources:
S&P 500 Index (SPX) and U.S. M2 Money Supply.
Calculating Growth Rates:
SPX Growth: The script calculates the percentage growth of the S&P 500 index by comparing the current closing price with the previous period's closing price.
M2 Growth: Similarly, it calculates the percentage growth of the U.S. M2 money supply by comparing the current value with the previous period's value.
Growth Gap/Delta:
Growth Gap: The core of the indicator is the "growth gap" or "delta," which is the difference between the M2 money supply growth and the SPX growth. This gap indicates whether liquidity in the economy (represented by M2) is outpacing or lagging behind the performance of the stock market.
Interpretation:
Positive Gap (Green Bars): When the M2 growth outpaces SPX growth, the gap is positive, indicating that there is more liquidity in the system than what is being reflected in the stock market. This scenario often signals potential upward momentum in the market, making it a good time to consider buying.
Negative Gap (Red Bars): When the SPX growth outpaces M2 growth, the gap is negative, suggesting that the market may be overextended relative to the available liquidity. This can be a warning sign of potential market corrections or downturns.
Visualization:
The indicator plots the growth gap as a histogram with bars colored based on the gap value:
Green Bars: Indicate a positive gap where M2 growth is higher than SPX growth.
Red Bars: Indicate a negative gap where SPX growth is higher than M2 growth.
The bars are thickened for better visibility, and a horizontal line at zero is plotted to help users easily distinguish between positive and negative gaps.
How To Use It:
Time Frame Selection: Users can select the desired time frame (e.g., monthly, weekly) for the data. This flexibility allows traders to analyze the indicator over different periods, depending on their investment horizon.
Monthly time frames seem to work best.
Interpreting the Indicator:
Bullish Signals: Look for sustained periods of positive growth gaps (green bars), which may indicate a favorable environment for buying or holding long positions.
Bearish Signals: Be cautious during periods of negative growth gaps (red bars), which could signal overvaluation in the market or potential pullbacks.
Enjoy and let me know if you have any questions.
Shifted EMAShifted EMA Indicator for TradingView
The Shifted EMA indicator is a customized technical analysis tool designed for TradingView's Pine Script version 5. This indicator plots the Exponential Moving Average (EMA) of a specified length along with its upper and lower shifted counterparts. The shifts allow traders to visualize price movements relative to dynamically adjusted EMA levels, potentially aiding in identifying overbought or oversold conditions, support and resistance zones, or trend confirmations.
Key Features:
Exponential Moving Average (EMA):
Calculates and plots the EMA based on the user-defined period (EMA Length). The EMA gives more weight to recent price data, making it more responsive to recent price changes compared to the Simple Moving Average (SMA).
Upper and Lower Shifts:
Allows users to define vertical shifts (Upper Shift and Lower Shift) to the EMA, plotting two additional lines above and below the standard EMA. These shifted lines can serve as dynamic support and resistance levels or zones of interest.
Customizable Parameters:
EMA Length: Defines the period over which the EMA is calculated. A longer period smoothens the EMA, while a shorter period makes it more sensitive to recent price changes.
Upper Shift: Determines the number of points to shift the EMA upwards.
Lower Shift: Determines the number of points to shift the EMA downwards.
Visual Aids:
Distinct colors and line widths are used for each plotted line to enhance clarity:
EMA: Blue line
Upper Shifted EMA: Red line
Lower Shifted EMA: Green line
How to Use:
Adding the Indicator:
Apply the Shifted EMA indicator to your desired chart in TradingView.
Configuring Parameters:
Adjust the EMA Length to set the period for the EMA calculation based on your trading strategy or preference.
Set the Upper Shift and Lower Shift values to determine how far above and below the EMA the shifted lines should be plotted. It's advisable to start with smaller shift values to ensure the shifted lines remain within a relevant range of the price action.
Interpreting the Indicator:
Trend Analysis: The standard EMA can help identify the prevailing market trend. Prices consistently above the EMA may indicate an uptrend, while prices below suggest a downtrend.
Dynamic Support and Resistance: The upper and lower shifted EMAs can act as dynamic resistance and support levels, respectively. Price reactions at these levels might provide trading signals or areas of interest.
Overbought/Oversold Conditions: Significant deviations of the price from the shifted EMAs might hint at overbought or oversold conditions, potentially signaling reversals or pullbacks.
Note: Like all technical indicators, the Shifted EMA should not be used in isolation. It's recommended to combine it with other analysis tools, indicators, or fundamental analysis to make well-informed trading decisions. Always ensure to test and validate the indicator's effectiveness within your specific trading strategy and risk management framework.
