Bat Harmonic Pattern [TradingFinder] Bat Chart Indicator🔵 Introduction
The Bat Harmonic Pattern, created by Scott Carney in the 1990s, is a sophisticated tool in technical analysis, used to identify potential reversal points in price movements by leveraging Fibonacci ratios.
This pattern is classified into two primary types: the Bullish Bat Pattern, which signals the end of a downtrend and the beginning of an uptrend, and the Bearish Bat Pattern, which indicates the conclusion of an uptrend and the onset of a downtrend.
🟣 Bullish Bat Pattern
The Bullish Bat Pattern is designed to identify when a downtrend is likely to end and a new uptrend is about to begin. The key feature of this pattern is Point D, which typically aligns near the 88.6% Fibonacci retracement of the XA leg.
This point is considered a strong buy zone. When the price reaches Point D after a significant downtrend, it often indicates a potential reversal, presenting a buying opportunity for traders anticipating the start of an upward movement.
🟣 Bearish Bat Pattern
In contrast, the Bearish Bat Pattern forms when an uptrend is nearing its conclusion. Point D, which also typically aligns near the 88.6% Fibonacci retracement of the XA leg, serves as a critical point for traders.
This point is regarded as a strong sell zone, signaling that the uptrend may be ending, and a downtrend could be imminent. Traders often open short positions when they identify this pattern, aiming to capitalize on the anticipated downward movement.
🔵 How to Use
The Bat Pattern consists of five key points: X, A, B, C, and D, and four waves: XA, AB, BC, and CD. Fibonacci ratios play a crucial role in this pattern, helping traders pinpoint precise entry and exit points. In both the Bullish and Bearish Bat Patterns, the 88.6% retracement of the XA leg is a critical level for identifying potential reversal points.
🟣 Bullish Bat Pattern
Traders typically enter buy positions after Point D forms, expecting the downtrend to end and a new uptrend to start. This point, located near the 88.6% retracement of the XA leg, serves as a reliable buy signal.
🟣 Bearish Bat Pattern
Traders usually open short positions after identifying Point D, expecting the uptrend to end and a downtrend to begin. This point, also near the 88.6% retracement of the XA leg, acts as a valid sell signal.
🟣 Trading Tips for the Bat Pattern
Accurate Fibonacci Point Identification : Accurately identify Points X, A, B, C, and D, and calculate the Fibonacci ratios between these points. Point D should ideally be near the 88.6% retracement of the XA leg.
Signal Confirmation with Other Tools : To enhance the pattern's accuracy, avoid trading solely based on the Bat Pattern.
Risk Management : Always use stop-loss orders. In a Bullish Bat Pattern, place the stop-loss below Point X, and in a Bearish Bat Pattern, above Point X. This helps limit potential losses if the pattern fails.
Wait for Price Movement Confirmation : After identifying Point D, wait for the price to move in the anticipated direction to confirm the pattern's validity before entering a trade.
Set Realistic Profit Targets : Use Fibonacci retracement levels to set realistic profit targets, such as 38.2%, 50%, and 61.8% retracement levels of the CD leg. This strategy helps maximize profits and prevents premature exits.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
🔵 Conclusion
The Bat Harmonic Pattern is a powerful tool in technical analysis, offering traders the ability to identify critical reversal points using Fibonacci ratios. By recognizing the Bullish and Bearish Bat Patterns, traders can anticipate potential trend reversals and make informed trading decisions.
However, it is essential to combine the Bat Pattern with other technical analysis tools and confirm signals for better trading outcomes. With proper use, this pattern can help traders minimize risk and optimize their entry and exit points in the market.
Search in scripts for "stop loss"
The Magic LineThis script is based on the simple 2 or 3 candle entry model taught by Armando "The Professor".
This strategy will work best on the 1hr timeframe or higher and you can also add a MA on your chart to identify direction of trend and trade with the trend. For example, if price is above the 50 SMA, you can opt to only look for 'buy' signals. If price is below the 50 SMA, you can opt to only look for 'sell' signals.
The default setting is to wait for 3 consecutive candles of either bullish or bearish sentiment before printing a buy or sell signal. This can be changed to any number you would like but typically 3 works best, as long as you're using the 1hr timeframe or higher.
Ex: If there are 3 green (bullish) candles print in a row, a 'sell' signal will print, and the entry line will be one tick below the open of the previous green candle. You can use that line as your entry.
For your stop loss, you can try to use the most recent swing high (for sells) or swing low (for buys). You can also use nearby support/resistance levels, or even the PSAR as another way to determine your stop loss.
If there are more than 3 consecutive candles with the same sentiment, signals will continue to print until the streak ends at which point the counter will restart, and the idea is to take the most recent signal as your entry. Limit/Stop entries work best as you can just let price come down to the signal line that is drawn.
Comment below if you have any questions! Good luck!
Smart Money Concept Strategy - Uncle SamThis strategy combines concepts from two popular TradingView scripts:
Smart Money Concepts (SMC) : The strategy identifies key levels in the market (swing highs and lows) and draws trend lines to visualize potential breakouts. It uses volume analysis to gauge the strength of these breakouts.
Smart Money Breakouts : This part of the strategy incorporates the idea of "Smart Money" – institutional traders who often lead market movements. It looks for breakouts of established levels with significant volume, aiming to catch the beginning of new trends.
How the Strategy Works:
Identification of Key Levels: The script identifies swing highs and swing lows based on a user-defined lookback period. These levels are considered significant points where price has reversed in the past.
Drawing Trend Lines: Trend lines are drawn connecting these key levels, creating a visual representation of potential support and resistance zones.
Volume Analysis: The script analyzes the volume during the formation of these levels and during breakouts. Higher volume suggests stronger moves and increases the probability of a successful breakout.
Entry Conditions:
Long Entry: A long entry is triggered when the price breaks above a resistance line with significant volume, and the moving average trend filter (optional) is bullish.
Short Entry: A short entry is triggered when the price breaks below a support line with significant volume, and the moving average trend filter (optional) is bearish.
Exit Conditions:
Stop Loss: Customizable stop loss percentages are implemented to protect against adverse price movements.
Take Profit: Customizable take profit percentages are used to lock in profits.
Credits and Compliance:
This strategy is inspired by the concepts and code from "Smart Money Concepts (SMC) " and "Smart Money Breakouts ." I've adapted and combined elements of both scripts to create this strategy. Full credit is given to the original authors for their valuable contributions to the TradingView community.
To comply with TradingView's House Rules, I've made the following adjustments:
Clearly Stated Inspiration: The description explicitly mentions the original scripts and authors as the inspiration for this strategy.
No Direct Copying: The code has been modified and combined, not directly copied from the original scripts.
Educational Purpose: The primary purpose of this strategy is for learning and backtesting. It's not intended as financial advice.
Important Note:
This strategy is intended for educational and backtesting purposes only. It should not be used for live trading without thorough testing and understanding of the underlying concepts. Past performance is not indicative of future results.
Low and High Values [Alorse]🌟 What does this indicator do?
This magical indicator shows you the lowest (Low) and highest (High) values of the last X candles directly on your chart. Not only that, but it also tells you how much the price has changed from the opening price of the current candle to these key points, all in percentage format. You'll have a clear and precise view of market movement!
🔧 Customize to your liking
Want to adjust the number of candles to consider? No problem! You can easily change this parameter to suit your preference. Whether you like short-term strategies with just a few candles or prefer more extensive analysis with many candles, our indicator adapts to you.
🚀 How can this indicator help you?
Identify Support and Resistance: By showing the lowest and highest points, it helps you identify key support and resistance levels. Perfect for planning your entries and exits!
Trend Analysis: With the percentage labels, you can quickly see how the price has moved relative to recent extremes, helping you confirm trends or anticipate possible reversals.
Trading Strategies: Imagine the price is near a recent low, but the percentage indicates a significant drop from the opening. This could be a buy signal if you expect a rebound. Conversely, if the price is near a recent high with a large percentage increase, you might consider selling.
Calculate Stop Loss: Use this indicator to determine your Stop Loss levels by leaving a bit of margin between the indicator value and your desired SL. This helps protect your positions while allowing for some price fluctuation.
📊 Examples of Use
Intraday Trader: Use the indicator with 10-20 candles to capture quick moves and capitalize on daily fluctuations.
Mid-term Trader: Set the indicator to consider 50 candles for a broader view of trends and reversal points.
Long-term Strategist: Adjust the indicator to 100 candles or more to identify highs and lows over larger time frames.
🛠️ Customizable Parameters
Number of Candles: Define the number of candles the indicator will analyze to calculate the lowest and highest values. It's all up to you!
EMA Scalping StrategyEMA Slope Indicator Overview:
The indicator plots two exponential moving averages (EMAs) on the chart: a 9-period EMA and a 15-period EMA.
It visually represents the EMAs on the chart and highlights instances where the slope of each EMA exceeds a certain threshold (approximately 30 degrees).
Scalping Strategy:
Using the EMA Slope Indicator on a 5-minute timeframe for scalping can be effective, but it requires adjustments to account for the shorter time horizon.
Trend Identification: Look for instances where the 9-period EMA is above the 15-period EMA. This indicates an uptrend. Conversely, if the 9-period EMA is below the 15-period EMA, it suggests a downtrend.
Slope Analysis: Pay attention to the slope of each EMA. When the slope of both EMAs is steep (exceeds 30 degrees), it signals a strong trend. This can be a favorable condition for scalping as it suggests potential momentum.
Entry Points:
For Long (Buy) Positions: Consider entering a long position when both EMAs are sloping upwards strongly (exceeding 30 degrees) and the 9-period EMA is above the 15-period EMA. Look for entry points when price retraces to the EMAs or when there's a bullish candlestick pattern.
For Short (Sell) Positions: Look for opportunities to enter short positions when both EMAs are sloping downwards strongly (exceeding -30 degrees) and the 9-period EMA is below the 15-period EMA. Similar to long positions, consider entering on retracements or bearish candlestick patterns.
Exit Strategy: Use tight stop-loss orders to manage risk, and aim for small, quick profits. Since scalping involves short-term trading, consider exiting positions when the momentum starts to weaken or when the price reaches a predetermined profit target.
Risk Management:
Scalping involves high-frequency trading with smaller profit targets, so it's crucial to implement strict risk management practices. This includes setting stop-loss orders to limit potential losses and not risking more than a small percentage of your trading capital on each trade.
Backtesting and Optimization:
Before implementing the strategy in live trading, backtest it on historical data to assess its performance under various market conditions. You may also consider optimizing the strategy parameters (e.g., EMA lengths) to maximize its effectiveness.
Continuous Monitoring:
Keep a close eye on market conditions and adjust your strategy accordingly. Market dynamics can change rapidly, so adaptability is key to successful scalping.
Lot Size Calculator - Acero FXENGLISH DESCRIPTION:
Easy get your lot size (by Acero FX)
---------------------------
We use this transaction sizes:
Forex = 1
XAUUSD = 0.001
US100, US30 or other index = 10
---------------------------
Automatic Information for calculations:
Currency used: USD
Instrument: Detected Automatically
---------------------------
Manual Inputs:
Choose your Balance amount in "Tamaño de Cuenta"
Choose your Risk Type in "Tipo de Riesgo" between Percentage or Amount
Choose your method to calculate your Lot Size in "Calcular Usando..." between Pips or Entry and SL price
---------------------------
Table Shows:
Title: Lot Size Calc 5.0 - Acero FX
Instrument: .................
Lot Size: ..............
Entry Price: .............
Stop Loss Price: .............
Pips: ...............
Risk ($): ...............
Risk (%): ............
Transaction Size: ..............
---------------------------
Important Disclaimers:
-Minor pairs may have some differences between other calculators.
-JPY pairs use USDJPY open price of the day
DESCRIPCIÓN EN ESPAÑOL
Calcula fácilmente tu lote (Diseñado por Acero FX)
---------------------
Usamos estos tamaños de transacción:
Forex = 1
XAUUSD = 0,001
US100, US30 u otros índices = 10
---------------------
Información automática para cálculos:
Moneda utilizada: USD
Instrumento: Detectado automáticamente
---------------------
Entradas manuales:
Elige el monto de tu Saldo en "Tamaño de Cuenta"
Elige el Tipo de Riesgo en "Tipo de Riesgo" entre Porcentaje o Monto
Elige el método para calcular el tamaño de stu lote en "Calcular Usando..." entre Pips o Entrada y precio SL
---------------------
La tabla muestra:
Título: Calc. Tamaño de Lote 5.0 - Acero FX
Instrumento: .................
Lotaje: ..............
Entrada: .............
Stop Loss: .............
Pips: .................
Riesgo ($): .................
Riesgo (%): ............
Tamaño del contrato (tamaño de la transacción): .................
---------------------
Descargos de responsabilidad importantes:
-Los pares menores pueden tener algunas diferencias entre otras calculadoras.
-Los pares JPY utilizan el precio de apertura del día USDJPY
Equity CurveAn equity curve is a graphical representation of the change in the value of a trading account over a time period. The equity curve is a direct reflection of a trading strategy's effectiveness. A consistently upward-trending equity curve indicates a successful strategy, while a flat or declining curve may signal the need for adjustment.
This indicator takes traders daily account values as a comma separated list, and creates an equity curve and simple moving average of the equity curve. This serves as a mirror reflecting the outcome of past actions and decisions, guiding traders in fine-tuning their strategies, managing risk more effectively, and ultimately striving towards a consistently profitable trading journey.
New equity values should be added to the end of the current list. A space or no space after the comma has no effect.
Importance of the Equity Curve
Strategy Evaluation: The equity curve is a direct reflection of a trading strategy's effectiveness over time. A consistently upward-trending equity curve indicates a successful strategy, while a flat or declining curve may signal the need for adjustment.
Risk Management: Monitoring the equity curve helps traders to see the impact of their risk management practices. Sudden drops in equity could highlight instances of excessive risk-taking or inadequate stop-loss settings.
Performance Benchmarks: Comparing the equity curve against benchmarks or desired performance goals allows traders to assess if they are meeting, exceeding, or falling short of their trading objectives.
Psychology: Trading is as much about psychology as it is about strategy. A visual representation of one's equity curve helps maintain discipline, encouraging adherence to a trading plan during downturns and preventing overconfidence during upswings.
Having this data visually allows traders to see which category of trader they fall into.
Unprofitable
Boom or Bust
Profitable
Statistical Data
The indicator not only plots the equity curve and moving average, but includes the option to display the highest value reached by the equity curve, the percentage difference from the peak, and performance over selected periods (All Time, YTD, QTD, MTD, WTD).
Historical Analysis
The Equity Curve Indicator is not just a tool for real-time monitoring of trading performance; it also serves as a powerful instrument for conducting historical analysis. By analyzing the equity curve in conjunction with historical market conditions, traders can identify patterns or triggers that resulted in significant gains or losses.
For example, the chart below shows the equity curve overlaid on periods of net new highs / lows. The equity curve experienced declines while the market was showing net new lows or choppy periods (represented by a red or white background), while most of the equity gains were made while net new highs were present (green background).
This retrospective analysis helps in understanding how different market conditions impact trading strategies and performance.
Trading the Equity Curve
All trading strategies produce an equity curve that has winning and losing periods. In the example above, the trader could introduce a simple rule to lighten up on long positions or move to cash during periods of net new lows.
Another simple rule could be introduced to stop trading if the equity curve falls below the moving average, until favorable market conditions return again.
This indicator is intended to be used on the daily timeframe.
AI SuperTrend x Pivot Percentile - Strategy [PresentTrading]█ Introduction and How it is Different
The AI SuperTrend x Pivot Percentile strategy is a sophisticated trading approach that integrates AI-driven analysis with traditional technical indicators. Combining the AI SuperTrend with the Pivot Percentile strategy highlights several key advantages:
1. Enhanced Accuracy in Trend Prediction: The AI SuperTrend utilizes K-Nearest Neighbors (KNN) algorithm for trend prediction, improving accuracy by considering historical data patterns. This is complemented by the Pivot Percentile analysis which provides additional context on trend strength.
2. Comprehensive Market Analysis: The integration offers a multi-faceted approach to market analysis, combining AI insights with traditional technical indicators. This dual approach captures a broader range of market dynamics.
BTC 6H L/S Performance
Local
█ Strategy: How it Works - Detailed Explanation
🔶 AI-Enhanced SuperTrend Indicators
1. SuperTrend Calculation:
- The SuperTrend indicator is calculated using a moving average and the Average True Range (ATR). The basic formula is:
- Upper Band = Moving Average + (Multiplier × ATR)
- Lower Band = Moving Average - (Multiplier × ATR)
- The moving average type (SMA, EMA, WMA, RMA, VWMA) and the length of the moving average and ATR are adjustable parameters.
- The direction of the trend is determined based on the position of the closing price in relation to these bands.
2. AI Integration with K-Nearest Neighbors (KNN):
- The KNN algorithm is applied to predict trend direction. It uses historical price data and SuperTrend values to classify the current trend as bullish or bearish.
- The algorithm calculates the 'distance' between the current data point and historical points. The 'k' nearest data points (neighbors) are identified based on this distance.
- A weighted average of these neighbors' trends (bullish or bearish) is calculated to predict the current trend.
For more please check: Multi-TF AI SuperTrend with ADX - Strategy
🔶 Pivot Percentile Analysis
1. Percentile Calculation:
- This involves calculating the percentile ranks for high and low prices over a set of predefined lengths.
- The percentile function is typically defined as:
- Percentile = Value at (P/100) × (N + 1)th position
- Where P is the desired percentile, and N is the number of data points.
2. Trend Strength Evaluation:
- The calculated percentiles for highs and lows are used to determine the strength of bullish and bearish trends.
- For instance, a high percentile rank in the high prices may indicate a strong bullish trend, and vice versa for bearish trends.
For more please check: Pivot Percentile Trend - Strategy
🔶 Strategy Integration
1. Combining SuperTrend and Pivot Percentile:
- The strategy synthesizes the insights from both AI-enhanced SuperTrend and Pivot Percentile analysis.
- It compares the trend direction indicated by the SuperTrend with the strength of the trend as suggested by the Pivot Percentile analysis.
2. Signal Generation:
- A trading signal is generated when both the AI-enhanced SuperTrend and the Pivot Percentile analysis agree on the trend direction.
- For instance, a bullish signal is generated when both the SuperTrend is bullish, and the Pivot Percentile analysis shows strength in bullish trends.
🔶 Risk Management and Filters
- ADX and DMI Filter: The strategy uses the Average Directional Index (ADX) and the Directional Movement Index (DMI) as filters to assess the trend's strength and direction.
- Dynamic Trailing Stop Loss: Based on the SuperTrend indicator, the strategy dynamically adjusts stop-loss levels to manage risk effectively.
This strategy stands out for its ability to combine real-time AI analysis with established technical indicators, offering traders a nuanced and responsive tool for navigating complex market conditions. The equations and algorithms involved are pivotal in accurately identifying market trends and potential trade opportunities.
█ Usage
To effectively use this strategy, traders should:
1. Understand the AI and Pivot Percentile Indicators: A clear grasp of how these indicators work will enable traders to make informed decisions.
2. Interpret the Signals Accurately: The strategy provides bullish, bearish, and neutral signals. Traders should align these signals with their market analysis and trading goals.
3. Monitor Market Conditions: Given that this strategy is sensitive to market dynamics, continuous monitoring is crucial for timely decision-making.
4. Adjust Settings as Needed: Traders should feel free to tweak the input parameters to suit their trading preferences and to respond to changing market conditions.
█Default Settings and Their Impact on Performance
1. Trading Direction (Default: "Both")
Effect: Determines whether the strategy will take long positions, short positions, or both. Adjusting this setting can align the strategy with the trader's market outlook or risk preference.
2. AI Settings (Neighbors: 3, Data Points: 24)
Neighbors: The number of nearest neighbors in the KNN algorithm. A higher number might smooth out noise but could miss subtle, recent changes. A lower number makes the model more sensitive to recent data but may increase noise.
Data Points: Defines the amount of historical data considered. More data points provide a broader context but may dilute recent trends' impact.
3. SuperTrend Settings (Length: 10, Factor: 3.0, MA Source: "WMA")
Length: Affects the sensitivity of the SuperTrend indicator. A longer length results in a smoother, less sensitive indicator, ideal for long-term trends.
Factor: Determines the bandwidth of the SuperTrend. A higher factor creates wider bands, capturing larger price movements but potentially missing short-term signals.
MA Source: The type of moving average used (e.g., WMA - Weighted Moving Average). Different MA types can affect the trend indicator's responsiveness and smoothness.
4. AI Trend Prediction Settings (Price Trend: 10, Prediction Trend: 80)
Price Trend and Prediction Trend Lengths: These settings define the lengths of weighted moving averages for price and SuperTrend, impacting the responsiveness and smoothness of the AI's trend predictions.
5. Pivot Percentile Settings (Length: 10)
Length: Influences the calculation of pivot percentiles. A shorter length makes the percentile more responsive to recent price changes, while a longer length offers a broader view of price trends.
6. ADX and DMI Settings (ADX Length: 14, Time Frame: 'D')
ADX Length: Defines the period for the Average Directional Index calculation. A longer period results in a smoother ADX line.
Time Frame: Sets the time frame for the ADX and DMI calculations, affecting the sensitivity to market changes.
7. Commission, Slippage, and Initial Capital
These settings relate to transaction costs and initial investment, directly impacting net profitability and strategy feasibility.
Option Buying Pivot and SMA 3 Pivot crossoverThis script is designed as a visual aid for options trading specifically for option buying, providing information about potential entry points, Option levels, and trade outcomes. Here's a summary of the key elements:
1. Pivot Point and True Range:*
- The script calculates the current candle's pivot point, representing an average of high, low, and close prices from the previous candle.
- True range, a measure of volatility, is determined using the high, low, and close prices of the last two candles.
2. Option Levels:
- Downside (PutValue - Red colour line) and upside (CallValue - Green Colour line) are calculated based on the current pivot point and true range.
PutValue = currentCandlePivot + currentCandleTrueRange
CallValue = currentCandlePivot - currentCandleTrueRange
3. Simple Moving Average (SMA) of Pivot Point:
- A 3-period SMA is applied to the pivot point to smooth out fluctuations.
4. Trade Entry Logic:
- Long entry is signalled when the current pivot point is above the SMA. (longEntry = currentCandlePivot > smaPivot)
- At the time of long entry BUY THE CALL OPTION OR SELL THE PUT OPTION near the CallValue Green line
- Short entry is signalled when the current pivot point is below the SMA. (shortEntry = currentCandlePivot < smaPivot)
- At the time of Short entry BUY THE PUT OPTION OR SELL THE CALL OPTION near the PutValue Red line
The indicator having option to change the background of the candle as a green for long; and change the background of the candle as red for short. Also, Having the option to plot as label.
5. Win and Loss Logic:
- Winning conditions are assessed based on the close price relative to CallValue (for Long) and PutValue (for Short).
- Losing conditions are determined similarly.
- winLong = close > CallValue and longEntry
- winShort = close < PutValue and shortEntry
-lossLong = close < CallValue and longEntry
-lossShort = close > PutValue and shortEntry
The indicator having option to change the background of the candle as a green for win; and change the background of the candle as red for loss. Also, Having the option to plot as label.
6. Background Coloring and Plots:
- The script uses background colors to highlight Long, Short, Win, and Loss scenarios.
- Shapes and labels are plotted on the chart to visually represent entry points, stop-loss levels, and trade outcomes.
The overall purpose is to provide traders with a clear visual representation of potential trading opportunities and outcomes, helping them make informed decisions in the options market.
Logical Trading Indicator V.1Features of the Logical Trading Indicator V.1
ATR-Based Trailing Stop Loss
The Logical Trading Indicator V.1 utilizes the Average True Range (ATR) to implement a dynamic trailing stop loss. You can customize the sensitivity of your alerts by adjusting the ATR Multiple and ATR Period settings.
Higher ATR Multiple values create wider stops, while lower values result in tighter stops. This feature ensures that your trades are protected against adverse price movements. For best practice, use higher values on higher timeframes and lower values on lower term timeframes.
Bollinger Bands
The Logical Trading Indicator V.1 includes Bollinger Bands, which can be customized to use either a Simple Moving Average (SMA) or an Exponential Moving Average (EMA) as the basis.
You can adjust the length and standard deviation multiplier of the Bollinger Bands to fine-tune your strategy. The color of the basis line changes to green when price is above and red when price is below the line to represent the trend.
The bands show a range vs a single band that also represents when the price is in overbought and oversold ranges similar to an RSI. These bands also control the take profit signals.
You also have the ability to change the band colors as well as toggle them off, which only affects the view, they are still active which will still fire the take profit signals.
Momentum Indicator
Our indicator offers a momentum filter option that highlights market momentum directly on the candlesticks, identifying periods of bullish, bearish, or consolidation phases. You can enable or disable this filter as needed, providing valuable insights into market conditions.
By default, you will see the candlestick colors represent the momentum direction as green or red, and consolidation periods as white, but the filter on the BUY and SELL signals is not active. The view options and filter can be toggled on and off in the settings.
Buy and Sell Signals
The Logical Trading Indicator V.1 generates buy and sell signals based on a combination of ATR-based filtering, Bollinger Band basis crossover, and optional momentum conditions if selected in the settings. These signals help you make informed decisions about when to enter or exit a trade. You can also enable a consolidation filter to stay out of trades during tight ranges.
Basically a BUY signal fires when the price closes above the basis line, and the price meets or exceeds the ATR multiple from the previous candle length, which is also editable in the settings.
If the momentum filter is engaged, it will not fire BUY signals when in consolidation periods. It works just the opposite for SELL signals.
Take Profit Signals
We've integrated a Take Profit feature that helps you identify points to exit your trades with profits. The indicator marks Long Take Profit when prices close below the upper zone line of the Bollinger Bands after the previous candle closes inside the band, suggesting an optimal point to exit a long trade or consider a short position.
Conversely, Short Take Profit signals appear when prices close above the lower zone after the previous candle closes inside of it, indicating the right time to exit a short trade or contemplate a long position.
Alerts for Informed Trading
The Logical Trading Indicator V.1 comes equipped with alert conditions for buy signals, sell signals, take profit points, and more. Receive real-time notifications to your preferred devices or platforms to stay updated on market movements and trading opportunities.
OTT CollectionIf you are not yet familiar with OTT, this script could provide an introduction to help you get started.
"Optimized Trend Tracker" (OTT) is an effective trend-following indicator created by Anıl Özekşi . It aims to detect the current trend direction based on an elegant mathematical construct. The key defining characteristic of OTT is its reliance on a trailing-stop mechanism. This enables OTT to identify price movements and follow the price until a reversal occurs. The widespread adoption of OTT in various algo-trading platforms has fostered the development of diverse applications of the indicator over time. Examining its history, eight distinct applications emerge.
1) OTT - Optimized Trend Tracker
2) TOTT - Twin Ott
3) OTT Channel - Half Channel & Fibonacci Channel
4) RISOTTO - Rsi Ott
5) SOTT - Stochastic Ott
6) HOTT & LOTT - Highest-Lowest Ott + Sum Option
7) ROTT - Relative Ott
8) FT - "Fırsatçı" Trend
BONUS: RTR - Relative True Range
Each system functions as an independent indicator and the "OTT Collection" is intended to present all of them in a single script.
ORIGINALITY
Primarily, this script introduces previously unreleased OTT applications on Tradingview (RISOTTO, ROTT, FT). In contrast to previously published examples that treat OTT as a variable, this script portrays OTT as a function, rendering it adaptable for more intricate computations. Consequently, OTT has evolved into a versatile tool capable of facilitating complex analyses. Furthermore, this script offers an innovative feature that permits the blocking of consecutive signals in the same direction, catering to user preferences. (This feature is crucial for all indicators utilizing band structures such as TOTT and HOTT-LOTT).
USAGE
It is simple to use. The settings section of the indicator groups the parameters. In first group, the System parameter allows you to select the OTT system you want to display on the chart. Activating the Pyramiding parameter enables the display of consecutive signals in the same direction (for TOTT and HOTT-LOTT). In the second group you can change the display options with the Barcolor, Signal and Bars parameters. The OTT system you select is configured with the parameters in the group with the corresponding system heading. (For example, suppose you select OTT CHANNEL in the system parameter. The parameters defining the channels are grouped under the heading "OTT CHANNELS" in the settings section.) Also the parameters you chose are displayed in table form on the chart screen. The table also presents the total number of bars on the chart and the number of signals generated by the selected system.
MECHANICS
Let's take a look at how the indicator works. This indicator incorporates eight distinct OTT systems, each characterized by unique parameters, lines, and signals. (Exception: OTT Channel does not include any referenced signals.)
1) WHAT IS "OTT"?
OTT comprises two lines: Support and Target. There's an up-trending market when the Support is superior to the Target, and a down-trending market when the Support is inferior to the Target. It is governed by two parameters. The Support (moving average) is determined by the Length parameter, while the Multiplier parameter is employed for percentage calculations. Lower values are adept at capturing short-term fluctuations, whereas higher values are more adept at identifying long-term trends. These principles apply to all parameters within the indicator.
DETAILED INFO : The OTT function in the script automatically performs the calculation process described in this section. So, if you know how OTT works you can skip the details. To comprehend its functioning, it's essential to grasp the "MOST" indicator, also devised by Anıl Özekşi. The fundamental principle of MOST involves creating bands that function akin to a trailing stop-loss. Initially, a moving average, referred to as the 'Support,' is established. (Anıl Özekşi employs VAR/VIDYA as the moving average type in all his systems.) Subsequently, the Support line is adjusted both upward and downward by a percentage multiplier to establish a band system. In the context of the trailing stop-loss concept, when the Support line approaches either the lower or upper band, the respective band ceases to move in parallel with the Support line and becomes horizontal. Consequently, the Support always intersects the band at some point. The values of the upper or lower bands, determined by this intersection, are referred to as the MOST line. OTT is generated by consolidating the values of MOST shifted upwards and downwards by half the coefficient percentage into a single line using the same method as above, and calculating the value of this line from two bars ago. Support is the data series of OTT and it serves as a source in OTT function. The OTT line is named as "Target" in this scipt. Support and Target will automatically vary according to the OTT application selected in the "System" parameter.
2) WHAT IS "TOTT"?
Twin OTT , also known as the "OTT Band," involves three parameters: Length, Multiplier, and Band Multiplier. It consists of three lines: Support, Upper Line, and Lower Line. OTT is determined by the Length and Multiplier parameters, while TOTT is calculated by adjusting OTT upwards and downwards as per the Band Multiplier parameter. The indicator generates signals based on the intersections of the Support and these two new OTT levels.
3) WHAT IS "OTT CHANNEL"?
Similar to TOTT, the OTT CHANNEL is also based on shifted OTT levels, employing a similar calculation method. The primary distinction lies in the fact that TOTT has a single Band Multiplier, whereas OTT CHANNEL incorporates two line multipliers for the band. It encompasses four parameters: Length, Multiplier, Upper Line Multiplier, and Lower Line Multiplier. OTT is defined by the Length and Multiplier parameters. The Upper Line Multiplier and Lower Line Multiplier parameters establish the channel boundaries by shifting the OTT line. Subsequently, levels are drawn between the upper and lower lines. The additional Channel Type parameter determines which levels are displayed on the chart. The "Half Channel" option draws channels shifted by half the coefficient. The "Fibonacci Channel" option draws channels shifted by 0.382 and 0.618 coefficients. The "Both" option plots all levels.
4) WHAT IS "RISOTTO"?
OTT also has application examples in momentum oscillators. RISOTTO utilizes the RSI indicator and operates with three parameters. The RSI is defined by the Length 1 parameter, while the Support is determined by the Length 2 parameter. The Multiplier parameter is utilized for percentage calculations. RISOTTO comprises two lines: Support and Target. To ensure more stable calculations, a constant (+1000) is added to the oscillator average when applying OTT to momentum oscillators. This approach eradicates nonsensical results stemming from percentage calculations when the oscillator reaches a value of 0. The indicator generates signals based on the intersection of these two lines.
5) WHAT IS "SOTT"?
Stochastic OTT is an another example of application on oscillator. Its working principle is akin to that of RISOTTO. It operates with three parameters. The Stochastic %k is defined by the Length 1 parameter, while the Stochastic %d is determined by the Length 2 parameter. The Multiplier parameter is utilized for percentage calculations. SOTT comprises two lines: Support and Target. The indicator generates signals based on the intersection of these two lines.
6) WHAT IS "HOTT-LOTT"?
OTT can be applied to the highest and lowest series as well. HOTT-LOTT operates with three parameters: Length, Multiplier, and Sum N Bars. The highest and lowest series are defined by the Length parameter. The Multiplier parameter is utilized for percentage calculations. It encompasses two lines: Upper Line and Lower Line, where HOTT employs the highest series and LOTT uses the lowest series. If the 'High' price surpasses HOTT, the indicator generates Long signals. Similarly, if the 'Low' price falls below LOTT, the indicator generates Short signals. When the Sum N Bars option is activated, signals are generated based on the confirmation concept for N bars.
7) WHAT IS "ROTT"?
Relative OTT serves as a valuable tool for long-period filters. ROTT operates with two parameters. The Support is determined by the length parameter and equals twice the moving average. The Multiplier parameter is utilized for percentage calculations. The indicator generates signals based on the intersection of these two lines.
8) WHAT IS "FT"?
"Fırsatçı" (opportunistic) Trend is a system that revolves around two levels, namely major and minor OTT. It operates with three parameters: Length, Major Multiplier, and Minor Multiplier. FT comprises two lines, Support and Target. The indicator generates signals based on the intersection of these two lines.
9) WHAT IS "RTR"?
Relative True Range is not an OTT system; however, it serves as a complementary feature. It does not have any referenced signals. RTR is devised to obtain a normalized result of the current market volatility. It operates with two parameters: ATR, which is determined by the Length 1 parameter, and RTR, defined by the Length 2 parameter.
A TIP
If any indicator is defined in function form instead of the OTT function, the applications can also be adapted for different indicators. E.g. Supertrend, PMAX, AlphaTrend, etc.
UPDATE
Anıl Özekşi is a competent algotrader who shares his work with open sources. I will update the indicator as new applications are released.
DISCLEIMER
This is just an indicator, nothing more. The script is for informational and educational purposes only. The use of the script does not constitute professional and/or financial advice. The responsibility for risks associated with the use of the script is solely owned by the user. Do not forget to manage your risk. And trade as safely as possible. Good luck!
MA RSI @KINGThis Pine Script is designed to create a trading indicator with moving averages (MA) and relative strength index (RSI), along with arrow signals and background color changes based on those signals. Here's a description of its functions:
1. Moving Averages and RSI Calculation:
- Two moving averages (`fastMA` and `slowMA`) are calculated based on user-input lengths.
- The Relative Strength Index (`rsi`) is calculated based on a user-defined length.
2. Crossover Conditions:
- `crossoverUp` is true when the fastMA crosses above the slowMA and RSI is above an overbought level.
- `crossoverDown` is true when the fastMA crosses below the slowMA and RSI is below an oversold level.
3. Arrow Signals:
- Triangle-shaped arrows (`arrowUp` and `arrowDown`) are plotted below and above bars, indicating buy (green) and sell (red) signals, respectively.
4. Background Color Changes:
- The background color (`bgColor`) changes based on buy and sell signals.
- If there's a buy signal (`crossoverUp`), the background color is set to a light blue with 40% transparency.
- If there's a sell signal (`crossoverDown`), the background color is set to a light red with 40% transparency.
- On the next opposite signal, the background color is scaled up (transparency set to 80%) to indicate a stronger signal.
In summary, this script provides visual cues through arrows and background color changes to assist traders in identifying potential buy and sell signals based on moving average crossovers and RSI conditions. The background color variations aim to highlight the strength of the signal, with scaling based on consecutive signals in the same direction.
********************************************************************************
1. Buy Signal:
- Condition: The arrow points up (green) with a background color indicating a buy signal.
- Confirmation: Ensure that there is a strong upward crossover (fastMA above slowMA) and RSI is above the overbought level.
2. Sell Signal:
- Condition: The arrow points down (red) with a background color indicating a sell signal.
- Confirmation: Ensure that there is a strong downward crossover (fastMA below slowMA) and RSI is below the oversold level.
3. Exit Signal:
- Condition: No arrow is present, and the background color is reset.
- Confirmation: Confirm that there is no active buy or sell signal.
Example Trading Rules:
Opening a Long Position (Buy):
- Enter a long (buy) position when:
- The green arrow appears with a light blue background.
- Confirm that the fastMA is above the slowMA.
- Confirm that RSI is above the overbought level.
Opening a Short Position (Sell):
- Enter a short (sell) position when:
- The red arrow appears with a light red background.
- Confirm that the fastMA is below the slowMA.
- Confirm that RSI is below the oversold level.
Exiting a Position:
- Close the position when:
- There is no arrow present (neither green nor red).
- The background color is reset, indicating no active signal.
Risk Management:
Position Sizing: Determine the size of your positions based on your risk tolerance and the size of your trading account.
Stop-Loss and Take-Profit: Set stop-loss orders to limit potential losses and take-profit orders to secure profits.
Risk-Reward Ratio: Consider maintaining a favorable risk-reward ratio in your trades.
Notes:
Backtesting: Before applying this strategy in a live market, it's crucial to backtest it using historical data to assess its performance.
Market Conditions: Adapt the strategy to different market conditions, and be aware that no strategy is guaranteed to be profitable.
Continuous Monitoring: Regularly monitor the performance of the strategy and make adjustments as needed.
Educational Purpose: This strategy is for educational purposes only. Always consult with financial professionals and use your judgment when making trading decisions.
Remember that trading involves risk, and past performance is not indicative of future results. It's recommended to paper trade or use a demo account to test the strategy before risking real capital.
Best wishes on your trading journey! May your strategies be profitable, your risks well-managed, and your decisions guided by wisdom and success. Happy trading!
2Mars strategy [OKX]The strategy is based on the intersection of two moving averages, which requires adjusting the parameters (ratio and multiplier) for the moving average.
Basis MA length: multiplier * ratio
Signal MA length: multiplier
The SuperTrend indicator is used for additional confirmation of entry into a position.
Bollinger Bands and position reversal are used for take-profit.
About stop loss:
If activated, the stop loss price will be updated on every entry.
Basic setup:
Additional:
Alerts for OKX:
SuperTrend Enhanced Pivot Reversal - Strategy [PresentTrading]
- Introduction and How it is Different
The SuperTrend Enhanced Pivot Reversal is a unique approach to trading that combines the best of two worlds: the precision of pivot reversal points and the trend-following power of the SuperTrend indicator. This strategy is designed to provide traders with clear entry and exit points, while also filtering out potentially false signals using the SuperTrend indicator.
BTCUSDT 6hr
ETHBTC 6hr
Unlike traditional pivot reversal strategies, this approach uses the SuperTrend indicator as a filter. This means that it only takes trades that align with the overall trend, as determined by the SuperTrend indicator. This can help to reduce the number of false signals and improve the overall profitability of the strategy.
The Pivot Reversal Strategy with SuperTrend Filter is particularly well-suited to the cryptocurrency market for the reason of High Volatility. This means that prices can change rapidly in a very short time, making it possible to make a profit quickly. The strategy's use of pivot points allows traders to take advantage of these rapid price changes by identifying potential reversal points
- Strategy: How it Works
The strategy works by identifying pivot reversal points, which are points in the price chart where the price is likely to reverse. These points are identified using a combination of the ta.pivothigh and ta.pivotlow functions, which find the highest and lowest points in the price chart over a certain period.
Once a pivot reversal point is identified, the strategy checks the direction of the SuperTrend indicator. If the SuperTrend is positive (indicating an uptrend), the strategy will only take long trades. If the SuperTrend is negative (indicating a downtrend), the strategy will only take short trades.
The strategy also includes a stop loss level, which is set as a percentage of the entry price. This helps to limit potential losses if the price moves in the opposite direction to the trade.
- Trade Direction
The trade direction can be set to "Long", "Short", or "Both". This allows the trader to choose whether they want to take only long trades (buying low and selling high), only short trades (selling high and buying low), or both. This can be useful depending on the trader's view of the market and their risk tolerance.
- Usage
To use the Pivot Reversal Strategy with SuperTrend Filter, simply input the desired parameters into the script and apply it to the price chart of the asset you wish to trade. The strategy will then identify potential trade entry and exit points, which will be displayed on the price chart.
- Default Settings
The default settings for the strategy are as follows:
ATR Length: 5
Factor: 2.618
Trade Direction: Both
Stop Loss Level: 20%
Commission: 0.1%
Slippage: 1
Currency: USD
Each trade: 10% of account equity
Initial capital: $10,000
These settings can be adjusted to suit the trader's preferences and risk tolerance. Always remember to test any changes to the settings using historical data before applying them to live trades.
Trading Session TemplateDescription:
The Trading Session Template Indicator is a powerful script that allows traders to customize their own trading session time range on a chart. With this indicator, you have the flexibility to define specific hours during which you prefer to focus your trading activities. The example chart showcases the New York session hours, but you can easily adapt it to any desired time range based on your trading strategy and preferences.
Key Features:
Customizable Trading Session: The indicator empowers you to define your own trading session time range, tailored to your preferred market sessions or specific trading hours. This flexibility ensures that the indicator aligns with your unique trading strategy.
Highlighted Trading Session: When a new trading day begins, the script automatically scans for the specified time range. Once the first candle within the range begins printing, the background color of the chart is highlighted, indicating the beginning of the trading session. When the last candle within the range is closed, the background color returns to normal.
Focus on Specific Market Sessions: This indicator is particularly useful for traders who prefer to trade certain market sessions or specific hours during the day. By customizing the trading session, you can better align your trading activities with specific market conditions and trading opportunities.
Candle Pattern Detection: The indicator includes the ability to detect candle patterns such as Doji, Engulfing, Hammer, and Shooting Star. You can activate the desired candle patterns and set up alerts for them. When an alert is triggered, indicating the formation of a specific candle pattern, you can further analyze the market and make informed trading decisions.
ATR Filter: The indicator offers an ATR (Average True Range) filter to limit noise and focus on candle patterns with a size comparable to the ATR. You can set a minimum and maximum size for a candle compared to the ATR. This helps you filter out smaller or larger candles that may not align with your trading preferences.
Stop Loss (SL) and Take Profit (TP) Levels: When a candle pattern is detected, based on the ATR, the indicator can display suggested Stop Loss and Take Profit levels. This feature provides additional guidance for risk management and potential profit targets.
User-Friendly Interface: The indicator provides a user-friendly interface with adjustable settings and switches for customization. Tooltips are available to guide you through the various options and configurations, making it easy to adapt the indicator to your trading style and preferences.
Note:
The Trading Session Template Indicator is designed for timeframes lower than 1D. It does not plot any information on timeframes of 1D and higher.
Disclaimer:
The Trading Session Template Indicator is provided for informational and educational purposes only. Trading in the financial markets involves risk, and you should only trade with funds that you can afford to lose. The indicator's past performance is not indicative of future results. Always conduct your own research and due diligence before making any investment decisions. The creator of this indicator shall not be held responsible for any losses or damages incurred from the use of this indicator.
AIR Supertrend (Average Interpercentile Range)Supertrend (ST) is a popular stop loss and trend identification script. The simplicity of seeing a clean trend on a chart makes it attractive, yet it is restricted by only allowing the source, length and multiplier to be adjusted, & these tend to have a limited effect on the properties of the identified trend.
There is a wide variety of interesting ST scripts on TradingView that give the user more control, but none to my knowledge, based on measuring the statistical dispersion of Average Interpercentile Range (AIR).
Two more levels of control:
Normally, ATR Average True Range is used to calculate the range in ST. ATR is initially calculated using RMA to smooth out True Range. This script gives the user the option of changing the MA to some more interesting varieties & modifying their parameters.
The default range setting when you load the indicator on a chart will be AIR.
The real strength of the indicator, however, and the reason I am publishing it, is to release AIR. Play round with the percentile range setting. Lowering it will allow you to stay longer in a trade in a volatile market. Raising it will make it tighter.
For comparison, you can switch back the range setting to ATR and load up RMA to see how the original, classic ST plots.
Alerts are included in this version. Alway use a stop loss.
DISCLAIMER: None of this is financial advice.
Credits to these authors, whose hard work inspired parts of this script:
@ KivancOzbilgic - SuperTrend
@ KioseffTrading - Tillson T3 MA
@ cheatcountry - Hann Window Smoothing
@ mutantdog - Interquartile Range function in his 'Blaze' script
