Reversal Signals [LuxAlgo]The Reversal Signals indicator is a technical analysis tool that aims to identify when a trend is fading and potentially starting to reverse.
As a counter-trend tool, the Reversal Signals indicator aims to solve the problem of several technical analysis indicators that perform well during trending markets but struggle in ranging markets. By understanding the key concepts and applications of the tool, traders can enhance their market timing and improve their trading strategies.
Note: It's important to explore the settings of the indicator to customize to your own usage & display as there are various options available as covered below.
🔶 USAGE
The Reversal Signals indicator is comprised of two main phases: Momentum Phase and Trend Exhaustion Phase . These phases help identify potential trend reversals in bullish, bearish, and ranging markets.
🔹The Momentum Phase
The momentum phase consists of a 9-candle count and in rare cases 8-candle count. In a bullish trend, a starting number ‘1’ is plotted if a candle closes higher than the close of a candle four periods ago. In a bearish trend, a starting number ‘1’ is plotted if a candle closes lower than the close of a candle four periods ago.
The following numbers are plotted when each successive candle satisfies the four-period rule. The potential reversal point comes when the Reversal Signals plot a label on top of a candle in a bullish trend or at the bottom of a candle in a bearish trend. The momentum phase is immediately canceled if, at any point, a candle fails to satisfy the four-period rule.
Based on the extremes of the momentum phase, the Reversal Signals generate support & resistance levels as well as risk/stop levels.
🔹 The Trend Exhaustion Phase
The trend exhaustion phase starts after completing the momentum phase and consists of a 13-candle count. In a bullish trend exhaustion phase, each candle’s close is compared to the close of two candles earlier, and the close must be greater than the close two periods earlier. In a bearish trend exhaustion phase, each candle’s close is compared to the close of two candles earlier, and the close must be lower than the close two periods earlier.
The trend exhaustion phase does not require a consecutive sequence of candles; if the order of candles is interrupted, the trend exhaustion phase is not canceled. The trend exhaustion phase generates stronger trading signals than the momentum phase, with the potential for longer-lasting price reversals.
🔹 Trading Signals
The Reversal Signals script presents an overall setup and some phase-specific trade setup options, where probable trades might be considered. All phase-specific trade setups, presented as options, are triggered once the selected phase is completed and followed by a price flip in the direction of the trade setup.
Please note that those setups are presented for educational purposes only and do not constitutes professional and/or financial advice
- Momentum: Enter a trade at momentum phase completion, and search for buy (sell) when the bullish (bearish) momentum phase pattern is complete. Ideally, the momentum phase completion should close near its support/resistance line but shall not be above them, which indicates continuation of the trend
- Exhaustion: Enter a trade on trend exhaustion phase completion, and search for buy (sell) when the bullish (bearish) trend exhaustion phase is complete
- Qualified: Buy (sell) when a bullish (bearish) trend exhaustion phase combined with another bullish (bearish) momentum phase sequence is complete
Long trade setups are presented with "L" label and short trade setups with "S" label, where the content of the label displays details related to the probable trade opportunity
Once a phase-specific trade setup is triggered then the Reversal Signals script keeps checking the status of the price action relative to the phase-specific trade setups and in case something goes wrong presents a caution label. Pay attention to the content of the caution labels as well as where they appear. A trade signal, followed immediately by a warning indication can be assumed as a continuation of the underlying trend and can be traded in the opposite direction of the suggested signal
It is strongly advised to confirm trading setups in conjunction with other forms of technical and fundamental analysis, including technical indicators, chart/candlestick pattern analysis, etc.
🔶 DETAILS
The Reversal Signals script performs the detection of the phases by counting the candlestick meeting the specific conditions, which includes:
- Detection of the 8th and 9th candle perfection during the momentum phase
- In some cases, the 8th count will be assumed as momentum phase completion
- Trend exhaustion phase counting stops in case any type of momentum phase completion is detected during the counting process
- Postponing the last count of the trend exhaustion phase, the 13th candle must be below/above the 8th candle and if not the candles will be indicated with '+' sign under them and the script continues to search for a 13th candle at the next ones until the conditions are met
🔶 ALERTS
When an alert is configured, the user will have the ability to be notified in case;
Momentum / Trend Exhaustion phase completion
Support & Resistance level cross detection
Stop / Risk level cross detection
Long / Short Trade Setups are triggered
Please note, alerts are available with 'any alert() function call' and the alerts will be received only for the features that are enabled during alert configuration
🔶 SETTINGS
🔹 Momentum Phase
Display Phases: displays the momentum phases, where the Completed option allows the display of only completed momentum phases. The detailed option allows the display of the entire process of the momentum phase processes
Support & Resistance Levels: Toggles the visibility of the Support & Resistance Levels and Line Styling options
Momentum Phase Risk Levels: Toggles the visibility of the momentum phase Stop/Risk Levels and Line Styling options
For color options please refer to the options available under the style tab
🔹 Trend Exhaustion Phase
Display Phases: displays the trend exhaustion phases, where the Completed option allows the display of only completed trend exhaustion phases. The detailed option allows the display of the entire process of the trend exhaustion phase processes
Trend Exhaustion Phase Risk Levels: Toggles the visibility of the trend exhaustion phase Stop/Risk Levels
Trend Exhaustion Phase Target Levels: Toggles the visibility of the trend exhaustion phase Target Levels
For color options please refer to the options available under the style tab
🔹 Trade Setups
Overall Trend Direction & Trade Setup: displays the overall trend and probable trade setup levels, the users should search for a price flip and confirm with other means of technical and fundamental analysis for the trade setups once the label is plotted
Phase-Specific Trade Setup Options
Momentum: Searches for a trade setup after momentum phase completion
Exhaustion: Searches for a trade setup after trend exhaustion phase completion, stronger trend reversal possibility compared to momentum phase setup
Qualified: Searches for a trade setup after the trend exhaustion phase followed by a momentum phase completion
None: No trade setups are presented
Price Flips against the Phase Specific Trade Setups: enables checking the price action relative to the phase-specific trade setups
🔶 RELATED SCRIPTS
Here are the scripts that may add additional insight during potential trading decisions.
Buyside-Sellside-Liquidity
Support-Resistance-Classification
Search in scripts for "the script"
Engulfing and Doji Scanner with SLThe Bullish Engulfing pattern occurs when the close is higher than the open, and scripts will look for this pattern by checking the difference in the close and open prices sufficiently in pips. Likewise, the Bearish Engulfing pattern occurs when the close is lower than the open, and scripts will look for this pattern by checking for sufficient difference in the open and close in pips.
The Doji pattern occurs when the absolute difference between the open and close prices is very small compared to the price range for that period. The script will look for these patterns by comparing the difference between the open and close prices by a certain percentage of the price range.
After the patterns are detected, the script will calculate the Stop Loss (SL) and Take Profit (TP) levels based on the parameters set. The SL level will be determined based on the lowest price range with certain adjustments, while the TP level is calculated using a 1:1 ratio to the SL distance.
This script will display arrows and Stop Loss and Take Profit labels on the chart to assist traders in identifying relevant patterns and levels. However, it is important to remember that these scripts only assist in the analysis of patterns and levels, and a more complete trading strategy and decision-making remains the responsibility of the trader.
Parabolic Scalp Take Profit[ChartPrime]Indicators can be a great way to signal when the optimal time is for taking profits. However, many indicators are lagging in nature and will get market participants out of their trades at less than optimal price points. This take profit indicator uses the concept of slope and exponential gain to calculate when the optimal time is to take profits on your trades, thus making this a leading indicator.
Usage:
In essence the indicator will draw a parabolic line that starts from the market participants entry point and exponentially grows the slope of the line eventually intersecting with the price action. When price intersects with the parabolic line a take profit signal will appear in the form of an x. We have found that this take profit indicator is especially useful for scalp trades on lower timeframes.
How To Use:
Add the indicator to the chart. Click on the candle which the trade is on. Click on either the price which the trade will be at, or at the bottom of the candle in a long, or the top of a candle in a short. Select long or short. Open the settings of the indicator and adjust the aggressiveness to the desired value.
Settings:
- Start Time -- This is the bar in which your entry will be at, or occured at and the script will ask you to click on the bar with your mouse upon first adding the script.
- Start Price -- This is the price in which the entry will be at, or was at and the script will ask you to click on the price with your mouse upon first adding the script.
- Long/Short -- This is a setting which lets the script know if it is a long or a short trade, and the script will ask you to confirm this upon first adding it to the chart.
- Aggressiveness -- This directly affects how aggressive the exponential curve is. A value of 101 is the lowest possible setting, indicating a very non-aggressive exponential buildup. A value of 200 is the highest and most aggressive setting, indicating a doubling effect per bar on the slope.
Multiple Divergences (UDTs - objects) - Educational█ OVERVIEW
This script highlights the usage of User-defined Types (UDTs) and objects , and bullish /bearish divergences.
Pivotpoints are used to find divergences, the result of this script will be different against other public multiple divergences scripts.
FOR Pine Script™ CODERS
Besides the information found in CONCEPTS , the comments in the script will, hopefully ), guide you through my thought process.
█ CONCEPTS
The main principle of this script are bullish /bearish divergences, this with 3 different oscillators ( RSI , CCI , MFI )
If you want to know more about divergences, have a look at some Education and Research idea's .
On every bar, an object HLs is made, containing bar_index , high , low , and 2 bool variables ( isPh , isPl ).
On every bar, an object Osc is made, containing bar_index , o (oscillator value), and 2 bool variables ( isPh , isPl ).
If a pivothigh (ph ) is found, isPh will be true on that bar, false otherwise.
If a pivotlow (pl) is found, isPl will be true on that bar, false otherwise.
These objects are added to an array, with limited size.
If a ph is found, the script draws a testline from that ph to every previous ph , found in the array.
Then every high in between these 2 points are checked if they don't pierce the testline .
If the testline isn't broken, the Reg_Div_Piv() function will give 4 values, 1 check (not pierced) variable and the 4 points of the line.
The testline is deleted.
Once a positive check is found, the script will perform the same, but now with the Osc objects.
The script will ONLY compare Osc pivots which are maximum 1 bar away from the high/low pivot .
If everything is confirmed, a line is drawn, visible on the chart.
█ REMARKS
A label will be visible with a number, this is the amount of divergences found with the according oscillator .
EXAMPLE
Div with RSI and CCI -> 2
Div with MFI alone -> 1
Div with RSI and CCI and MFI -> 3
...
Divergences should only be used when confirmed, this is after bar close .
As an aid, lines that are not confirmed will be dotted , if confirmed, they will be solid .
The divergence check start when a ph/pl is found, after which oscillator pivot are checked.
Optionally the same can be done, when a oscillator pivot is found and then check the ph/pl ,
this should give more results, although it can make the script slower.
█ SETTINGS
Left - amount of bars at the left which needs to be lower/higher
Right - amount of bars at the right which needs to be lower/higher
Max values - maximum values in array of objects
3 oscillator settings with
• ON/OFF
• Length
• color bullish divergence
• color bearish divergence
Have FUN !
lower_tf█ OVERVIEW
This library is a Pine programmer’s tool containing functions to help those who use the request.security_lower_tf() function. Its `ltf()` function helps translate user inputs into a lower timeframe string usable with request.security_lower_tf() . Another function, `ltfStats()`, accumulates statistics on processed chart bars and intrabars.
█ CONCEPTS
Chart bars
Chart bars , as referred to in our publications, are bars that occur at the current chart timeframe, as opposed to those that occur at a timeframe that is higher or lower than that of the chart view.
Intrabars
Intrabars are chart bars at a lower timeframe than the chart's. Each 1H chart bar of a 24x7 market will, for example, usually contain 60 intrabars at the LTF of 1min, provided there was market activity during each minute of the hour. Mining information from intrabars can be useful in that it offers traders visibility on the activity inside a chart bar.
Lower timeframes (LTFs)
A lower timeframe is a timeframe that is smaller than the chart's timeframe. This framework exemplifies how authors can determine which LTF to use by examining the chart's timeframe. The LTF determines how many intrabars are examined for each chart bar; the lower the timeframe, the more intrabars are analyzed.
Intrabar precision
The precision of calculations increases with the number of intrabars analyzed for each chart bar. As there is a 100K limit to the number of intrabars that can be analyzed by a script, a trade-off occurs between the number of intrabars analyzed per chart bar and the chart bars for which calculations are possible.
█ `ltf()`
This function returns a timeframe string usable with request.security_lower_tf() . It calculates the returned timeframe by taking into account a user selection between eight different calculation modes and the chart's timeframe. You send it the user's selection, along with the text corresponding to the eight choices from which the user has chosen, and the function returns a corresponding LTF string.
Because the function processes strings and doesn't require recalculation on each bar, using var to declare the variable to which its result is assigned will execute the function only once on bar zero and speed up your script:
var string ltfString = ltf(ltfModeInput, LTF1, LTF2, LTF3, LTF4, LTF5, LTF6, LTF7, LTF8)
The eight choices users can select from are of two types: the first four allow a selection from the desired amount of chart bars to be covered, the last four are choices of a fixed number of intrabars to be analyzed per chart bar. Our example code shows how to structure your input call and then make the call to `ltf()`. By changing the text associated with the `LTF1` to `LTF8` constants, you can tailor it to your preferences while preserving the functionality of `ltf()` because you will be sending those string constants as the function's arguments so it can determine the user's selection. The association between each `LTFx` constant and its calculation mode is fixed, so the order of the arguments is important when you call `ltf()`.
These are the first four modes and the `LTFx` constants corresponding to each:
Covering most chart bars (least precise) — LTF1
Covers all chart bars. This is accomplished by dividing the current timeframe in seconds by 4 and converting that number back to a string in timeframe.period format using secondsToTfString() . Due to the fact that, on premium subscriptions, the typical historical bar count is between 20-25k bars, dividing the timeframe by 4 ensures the highest level of intrabar precision possible while achieving complete coverage for the entire dataset with the maximum allowed 100K intrabars.
Covering some chart bars (less precise) — LTF2
Covering less chart bars (more precise) — LTF3
These levels offer a stepped LTF in relation to the chart timeframe with slightly more, or slightly less precision. The stepped lower timeframe tiers are calculated from the chart timeframe as follows:
Chart Timeframe Lower Timeframe
Less Precise More Precise
< 1hr 1min 1min
< 1D 15min 1min
< 1W 2hr 30min
> 1W 1D 60min
Covering the least chart bars (most precise) — LTF4
Analyzes the maximum quantity of intrabars possible by using the 1min LTF, which also allows the least amount of chart bars to be covered.
The last four modes allow the user to specify a fixed number of intrabars to analyze per chart bar. Users can choose from 12, 24, 50 or 100 intrabars, respectively corresponding to the `LTF5`, `LTF6`, `LTF7` and `LTF8` constants. The value is a target; the function will do its best to come up with a LTF producing the required number of intrabars. Because of considerations such as the length of a ticker's session, rounding of the LTF to the closest allowable timeframe, or the lowest allowable timeframe of 1min intrabars, it is often impossible for the function to find a LTF producing the exact number of intrabars. Requesting 100 intrabars on a 60min chart, for example, can only produce 60 1min intrabars. Higher chart timeframes, tickers with high liquidity or 24x7 markets will produce optimal results.
█ `ltfStats()`
`ltfStats()` returns statistics that will be useful to programmers using intrabar inspection. By analyzing the arrays returned by request.security_lower_tf() in can determine:
• intrabarsInChartBar : The number of intrabars analyzed for each chart bar.
• chartBarsCovered : The number of chart bars where intrabar information is available.
• avgIntrabars : The average number of intrabars analyzed per chart bar. Events like holidays, market activity, or reduced hours sessions can cause the number of intrabars to vary, bar to bar.
The function must be called on each bar to produce reliable results.
█ DEMONSTRATION CODE
Our example code shows how to provide users with an input from which they can select a LTF calculation mode. If you use this library's functions, feel free to reuse our input setup code, including the tooltip providing users with explanations on how it works for them.
We make a simple call to request.security_lower_tf() to fetch the close values of intrabars, but we do not use those values. We simply send the returned array to `ltfStats()` and then plot in the indicator's pane the number of intrabars examined on each bar and its average. We also display an information box showing the user's selection of the LTF calculation mode, the resulting LTF calculated by `ltf()` and some statistics.
█ NOTES
• As in several of our recent publications, this script uses secondsToTfString() to produce a timeframe string in timeframe.period format from a timeframe expressed in seconds.
• The script utilizes display.data_window and display.status_line to restrict the display of certain plots.
These new built-ins allow coders to fine-tune where a script’s plot values are displayed.
• We implement a new recommended best practice for tables which works faster and reduces memory consumption.
Using this new method, tables are declared only once with var , as usual. Then, on bar zero only, we use table.cell() calls to populate the table.
Finally, table.set_*() functions are used to update attributes of table cells on the last bar of the dataset.
This greatly reduces the resources required to render tables. We encourage all Pine Script™ programmers to do the same.
Look first. Then leap.
█ FUNCTIONS
The library contains the following functions:
ltf(userSelection, choice1, choice2, choice3, choice4, choice5, choice6, choice7, choice8)
Selects a LTF from the chart's TF, depending on the `userSelection` input string.
Parameters:
userSelection : (simple string) User-selected input string which must be one of the `choicex` arguments.
choice1 : (simple string) Input selection corresponding to "Least precise, covering most chart bars".
choice2 : (simple string) Input selection corresponding to "Less precise, covering some chart bars".
choice3 : (simple string) Input selection corresponding to "More precise, covering less chart bars".
choice4 : (simple string) Input selection corresponding to "Most precise, 1min intrabars".
choice5 : (simple string) Input selection corresponding to "~12 intrabars per chart bar".
choice6 : (simple string) Input selection corresponding to "~24 intrabars per chart bar".
choice7 : (simple string) Input selection corresponding to "~50 intrabars per chart bar".
choice8 : (simple string) Input selection corresponding to "~100 intrabars per chart bar".
Returns: (simple string) A timeframe string to be used with `request.security_lower_tf()`.
ltfStats()
Returns statistics about analyzed intrabars and chart bars covered by calls to `request.security_lower_tf()`.
Parameters:
intrabarValues : (float [ ]) The ID of a float array containing values fetched by a call to `request.security_lower_tf()`.
Returns: A 3-element tuple: [ (series int) intrabarsInChartBar, (series int) chartBarsCovered, (series float) avgIntrabars ].
Advanced Volume ProfileTHIS SCRIPT CURRENTLY ONLY WORKS FOR ASSETS THAT TRADE 24/7 OR CBOE FUTURES HOURS!
This script plots volume relative to an asset's historical volume profile.
Usage:
As a companion to my "Unusual Time Frame Volume" (UTF Volume) script, this plots volume against the same historical volume profile used for UTF Volume.
The same high volume (relative to historical) threshold alert is available (yellow bar).
Likewise, if the volume exceeds the historical threshold, but is below the alert threshold, the bar color is orange.
At the top of the chart is an indicator which is green if a bar has higher volume than the previous bar.
You can also set a threshold for this such that if the volume of a bar exceeds the previous bar by a certain multiplier which will turn the indicator yellow.
For example, if the threshold is set to "1.5", then the indicator will be yellow (instead of green) on an increase in volume over the previous bar of 1.5x.
NOTES:
Again, this script currently only works for assets that trade 24/7 or CBOE Futures hours!
Make sure you set the "Asset Mode" and "Time Frame (minutes)" to values that match your asset and chart setting.
For example, if you are trading Futures on a 2m chart, set the Asset Mode to Futures and Time Frame to 2m.
If you are trading crypto on a 5m chart, set the Asset Mode to 24/7 and Time Frame to 5m.
If the settings are not set appropriately, the output will be incorrect/invalid.
If you choose a "Look-back (Days)" setting that is too far back given the time frame, the script will produce an error.
I suggest playing with settings from "1" (compares volume to the previous day's volume) to the highest number that doesn't break the script.
For example, at a 2m time frame, the maximum look-back will be "6" or "7" depending on which mode you are using.
Longer chart time settings allow larger look-back values.
I find that the default value ("6") does a decent job in general.
Please feel free to reuse or further develop this script.
I would greatly appreciate it if you would send me a message below if you find it useful.
[CLX][#03] Object-Stack (Labels/Lines/Boxes)This script shows an example of how to manage objects (lines/labels/boxes) and prevent the need of garbage collecting and missing objects.
You only have to push your object into the right array.
*_FIXED (left-lock) or *_FORWARD (right-lock)
We hope you enjoy it! 🎉
CRYPTOLINX - jango_blockchained 😊👍
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely.
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold cryptolinx TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script.
[CLX][#02] Registry (type-based)This script only provides a basic __setter and __getter registration function with a type-based limitation.
We don't want to blow the code with additional conditions. The suggestion was to get the basic functionality.
Benefits:
- Get/set/update global-like variables between functions
- No init needed. You can call a entry before you set it.
Get-Functions:
- f_reg_getInt(_key)
- f_reg_getFloat(_key)
- f_reg_getBool(_key)
- f_reg_getString(_key)
- f_reg_getColor(_key)
- f_reg_getLabel(_key)
- f_reg_getLine(_key)
Set-Functions:
- f_reg_setInt(_key, _value)
- f_reg_setFloat(_key, _value)
- f_reg_setBool(_key, _value)
- f_reg_setString(_key, _value)
- f_reg_setColor(_key, _value)
- f_reg_setLabel(_key, _value)
- f_reg_setLine(_key, _value)
Feel free to contribute for an extended version. :)
We hope you enjoy it! 🎉
CRYPTOLINX - jango_blockchained 😊👍
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely.
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script.
Repulse-AORepulsion Engine is a proof of concept for a series of indicators using repulsion, as re-contextualized from the following:
www.quantamagazine.org
In my view, the technique is unique, and therefore a new category of indicator, but that distinction will, obviously, be left to the community and to the moderators. One thing that can be said is repulsion appears to be applicable to more than RSI, and while it's not featured here, it has been tested in other related work using SMA, EMA and HMA signal artefacts. Still, the script is raw and not overly clean. One might hope for a git-like versioning system and vertically oriented script window, but that would be playing the blame game, and I would lose that battle. Trading View is awesome as it is and getting better all the time.
This script features an experimental oscillator branch, also utilising some off-in-left-field number theory by which a link is posited to have been made to a fractal domain, around which the oscillator 'more subtly' picks up price movement. Three interrelated pairs are involved, but to avoid long-winded explanation, you might want to just play with changing out XRPUSDT and XRPBTC for two other similarly related securities. Several other scripts on the workbench over here automate this process.
No doubt, more able programmers will easily enhance this and other scripts which arise. If there's interest in this one, more of the raw 'it's not really ready' scripts will likely follow, so people can dig in and do their own mashups sooner rather than later, tossing what is bad and enhancing what is good.
It might be better, and garner a lot less flaming, if this indicator is described as experimental all the way through.
Stubs are present here for users to test performance on their own.
I hope you get something out of it, and if you make one of your own or move this along to a higher standard that you drop me a line to let me know. I'm always eager to learn and to grow.
Reversal with Bollinger Bands + RSI + ADX + ATR (Upgraded)Hi,
Welcome to my 4th script.
Someone asked me some questions about the Bollinger Band strategy I previously published. When I went back to my published script I couldn't help myself but simply try and make it better. Which I did.
Since I've published that script, I've gained much more knowledge about how Pinescript functions. As well as gaining more and more knowledge about how the markets are structered etc.
In this reversal script we use 4 indicators to determine good entry signals, we determine whether the market is ranging or trending and we still only want to take trades in the direction of the "trend".
Bollinger Bands are used for our entry signal. When price hits either side of the band, we wait for a reverse candlestick before we enter a position.
RSI is used to determine if we're in a trending market or in a ranging market. You can adjust the values in the inputs. You can determine the minimum RSI value and the maximum RSI value.
ADX is used the same way as RSI, you can adjust the value in the inputs. You can determine the minimum ADX value.
Last but not least we use two EMA's, a 200 EMA and 100 EMA. Both are adjustable through the inputs. I used two EMA's because I noticed when using this strategy that we'd enter a new position often after having a bad trade. Using two EMA's might clean up some signals, in my case with EUR/USD on a 15m timeframe, it didn't clean up enough signals.
All the default values are pretty decent but might require some finetuning on a certain instrument. Don't overfit the strategy though, that'll only give you bad signals in the future.
Then we are off to our exit signals.
Initially I wanted to incorporate my previous Bollinger Band exit signals as well, but it was too much of a hassle to make the script work as intended so I left it out. If you want to use those exit signals, just find my other script.
When we're in a position and price crosses the opposite band, we wait for a reverse candlestick before we exit the position.
Additionally we want our losses to be as small as possible, so we use RSI to signal us when the market is, or starts to, trend against us. This is where you use the minimum and maximum exit values. So when RSI crosses over or under that value, it'll exit the position.
Furthermore, we use the ATR indicator to set our stop loss, which is pretty basic stuff. You can adjust the ATR multiplier in the inputs. Disabling "Use Trailing Stop?" is really inadvisable unless you know this script inside out as your only exit signals will be opposite Bollinger Band Cross and RSI overbought / oversold areas.
Pearsons R historic breaks ( for making strategy out of it )Pearsons R adjustments of linear regressions is a good tool to analyse visually the trend basis channeling of the market,
one of the common challenges in the scripts which i came across the tradingview community is the lack of the historic places put over the charts where the price actually crossed up/below the channel boundaries,
For me in order to do so we would have to replay the scripts over and over.
So I came up with an addon extension to a good script on the community ()
I have added the historic marks over the charts ( blue/green/red/orange Arrows which you see on the charts)
These arrows are the places where the price have crossed the channel boundaries historically
So,
Blue arrow = Bull Intent ,Place where the upper channel boundary line have been crossed
Orange arrow = Bear Intent , Place where the Lower channel boundary line have been crossed
Green arrow = Bull Max , Place where the Maximum Upper channel boundary line have been crossed
Red arrow = Bear Max , Place where the Minimum Lower channel boundary line have been crossed
For me this type of approach is good for making a strategy out of the concepts visually, in congestion to other indicators
I would suggest you guys to check this on alert basis with your setups to derive out the best from linear regressions
Lastly it would be a pleasure to give credits to the creators of Pearsons R scripts in Tradingview
@midtownsk8rguy
@TradeBoneDogs
@x11joe
Also thanking Tradingview for providing us such an awesome community and platform :)
RSI on VWAP Upgraded strategyFirst of all, the idea of apply RSI to VWAP was inspired by XaviZ; at least, that where I first saw that.
I simply applied the idea and searched for apply this on lower timeframe (M15) to increase the number of positions and improve the profit factor.
The conditions to enter are the same :
long : enter on RSI crossover oversold level
short : enter on RSI crossunder oversell level
To close position, I found a little change to apply :
long : close position when RSI(VWAP) went in overbought zone and crossunder the overbought level OR after being at least x bars in the overbought zone (parameter is 28 by default) => when the first condition happens
short : close position when RSI(VWAP) went in oversold zone and crossover the oversold level OR after being at least x bars in the oversell zone (parameter is 28 by default) => when the first condition happens
With this change, I got better results specially on BTCUSDTPERP (M15) where I reach a 6.8 profit factor with 119 trades closed. Not BAD !
The defaults parameters are the best found for BTCUSDTPERP (M15), but the strategy works fine for other pairs if you take time to find the rights combinations.
In this strategy you can change (with defaults in () ):
RSI length (28)
RSI overbought level (85)
RSI oversell level (30)
Number of bars before leaving as explain above (28)
The choice to take longs only, shorts only or both
The number of coin/token by position
The start date for backtesting
Please note that the script use a pyramiding parameter of 3 (can be changed in the first line of the script); that means that you can take up to 3 positions before closing. It lets you improve average enter price but increase the risk. 3 is the best I found to improve profit factor without expose myself too much.
This script would be better if automated because of the conditions of buy and sell.
It's only for educative purpose, not an advice to invest.
All my free scripts here : fr.tradingview.com
Leave a message and don't forget to follow me ;) !
Trend Follower - Light Mode | jhFollow up script for my Trend Follower script.
I'm used to dark mode, so I coded a few key plots in white, so those are changed into black on the script.
Notably:
- > 1 ATR in black dots along the baseline
- Current and previous ATR text labels to the right of the price
- A text label spacing input that allows you to adjust the spacing for text label from price.
This is a trend following system that combines 3 indicators which provide different functionalities, also a concept conceived by VP's No Nonsense FX / NNFX method.
1. Baseline
The main baseline filter is an indicator called Modular Filter created by Alex Grover
- www.tradingview.com
- Alex Grover - Modular Filter
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That's the moving average like baseline following price, filtering long and short trends and providing entry signals when the price crosses the baseline.
Entry signal indicated with arrows.
2. Volume/Volatility, I will called it Trend Strength
The next indicator is commonly known as ASH, Absolute Strength Histogram.
This indicator was shared by VP as a two line cross trend confirmation indicator, however I discovered an interesting property when I modified the calculation of the histogram.
- Alex Grover Absolute Strength
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My modification and other info here
- Absolute Strength Histogram v2
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I simplified the display of the trend strength by plotting squares at the bottom of the chart.
- Lighted Squares shows strength
- Dimmed Squares shows weakness
3. Second Confirmation / Exits / Trailing Stop
Finally the last indicator is my usage of QQE (Qualitative Quantitative Estimation), demonstrated in my QQE Trailing Line Indicator
- QQE Trailing Line for Trailing Stop
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Three usages of this amazing indicator, serving as :
- Second trend confirmation
- Exit signal when price crosses the trailing line
- Trailing stop when you scaled out the second trade
This indicator is plotted with crosses.
Additional plots and information
Bar Color
- Green for longs, Red for shorts, White when the baseline direction conflicts with the QQE trailing line direction
- When it's white, it's usually ranging and not trending, ASH will also keep you off ranging periods.
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ATR Filter
- White circles along the baseline, they will show up if the price has moved more than one ATR from the baseline
- The default allowance is 1 ATR.
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The previous and current ATR value
- Label on the right side of the chart showing the previous and current value of ATR
Trend Direction Helper (ZigZag and S/R and HH/LL labels)Hey everyone
First of all, I'd like to thank Ricardo Santos, Backtest Rookies for the inspiration for this script.
Actually, most of it is coming from them and I only mixed them up (and added my secret sauce ^^). If some of you are not thinking about a trading secret sauce, please get serious for a moment :)
Some of you asked me how I do to set the trend direction. You all understood that if you get an UP label, then the price should go up and vice-versa for down.
But it's not so easy to define the good signals for each asset and each timeframe. I'm going to repeat what I said yesterday because ... well... that's what trading is about
So quoting myself here "The inputs set by default will have to be changed for your asset/timeframe and can't be generic for everything. You have to play with the inputs until the signals will make sense to you
The indicator/strategy with a unique configuration that you'll never check or update according to the market condition DOES NOT exit. "
BUT... a bit of patience and practice and you might do wonders.
The Method
I never realized until now but by connecting the higher highs/lower lows, I was drawing zigzag lines.
The Zig Zag Master is Ricardo Santos . Please give him a follow, he's awesome
For those who don't want to draw on the chart or (my preferred choice) need some inspiration to define your trend directions, this script is for YOU (and your family, your pet, your girlfriend/boyfriend, ...)
I think that each asset/timeframe chart has its own history. What worked in a post could work in the future.
In that regard, if a trend direction worked in the past, that's the parameter that I'll use to trade with it in a demo account and make sure it's relevant. If not then I will adjust
If you're trading with new indicators or a new method right away on your real trading account, you're gonna have a bad time imgflip.com
Lines EVERYWHERE
The script draws the classical horizontal pivots + the zig zag lines + the Higher Highs/Lower Lows label in just 1 script. I'm very excited to share a script (on which I coded 100 lines out of 500) but no one else did it
The horizontal pivots part are coming from Backtest Rookies
For more security, you can add a pullback on a moving average after getting a signal. Pullbacks are necessary to limit any eventual loss or maximize your gains by getting in the trend sooner.
I really give you a solid method and a great script in my opinion. 6 years of experience given away for FREE :p (when Dave will start thinking as a business man instead :O)
Does it repaint ?
Getting this question twice a day. You guys are obsessed with the repainting :)
Short answer, yes because it will calculate the pivots and zig zags whenever new higher highs/lower lows will be formed.
However, the trend direction code is based on the candle close so it shouldn't repaint. If it does, please let me know
See you all on Monday
Love you all
Dave
____________________________________________________________
Be sure to hit the thumbs up. Building those indicators take a lot of time and likes are always rewarding for me :) (tips are accepted too)
- If you want to suggest some indicators that I can develop and share with the community, please use my personal TRELLO board
- I'm an officially approved PineEditor/LUA/MT4 approved mentor on codementor. You can request a coaching with me if you want and I'll teach you how to build kick-ass indicators and strategies
Jump on a 1 to 1 coaching with me
- You can also hire for a custom dev of your indicator/strategy/bot/chrome extension/python
Disclaimer:
Trading involves a high level of financial risk, and may not be appropriate because you may experience losses greater than your deposit. Leverage can be against you.
Do not trade with capital that you can not afford to lose. You must be aware and have a complete understanding of all the risks associated with the market and trading. We can not be held responsible for any loss you incur.
Trading also involves risks of gambling addiction.
Please notice I do not provide financial advice - my indicators, strategies, educational ideas are intended to provide only some source code for anyone interested in improving their trading
The proprietary indicators and strategies developed by Best Trading Indicator, the object of intellectual property rights are and remain the exclusive property of Best Trading Indicator, at the exclusion of images and videos and texts free of rights or provided by the Company or external legal or physical person.
No assignment of intellectual property rights is carried out through these Terms and Conditions.
Any total or partial reproduction, modification or use of these properties for any reason whatsoever is strictly prohibited without the express written authorization of the Company.
Uptrick: Fusion Trend Reversion SystemOverview
The Uptrick: Fusion Trend Reversion System is a multi-layered indicator designed to identify potential price reversals during intraday movement while keeping traders informed of the dominant short-term trend. It blends a composite fair value model with deviation logic and a refined momentum filter using the Relative Strength Index (RSI). This tool was created with scalpers and short-term traders in mind and is especially effective on lower timeframes such as 1-minute, 5-minute, and 15-minute charts where price dislocations and quick momentum shifts are frequent.
Introduction
This indicator is built around the fusion of two classic concepts in technical trading: identifying trend direction and spotting potential reversion points. These are often handled separately, but this system merges them into one process. It starts by computing a fair value price using five moving averages, each with its own mathematical structure and strengths. These include the exponential moving average (EMA), which gives more weight to recent data; the simple moving average (SMA), which gives equal weight to all periods; the weighted moving average (WMA), which progressively increases weight with recency; the Arnaud Legoux moving average (ALMA), known for smoothing without lag; and the volume-weighted average price (VWAP), which factors in volume at each price level.
All five are averaged into a single value — the raw fusion line. This fusion acts as a dynamically balanced centerline that adapts to price conditions with both smoothing and responsiveness. Two additional exponential moving averages are applied to the raw fusion line. One is slower, giving a stable trend reference, and the other is faster, used to define momentum and cloud behavior. These two lines — the fusion slow and fusion fast — form the backbone of trend and signal logic.
Purpose
This system is meant for traders who want to trade reversals without losing sight of the underlying directional bias. Many reversal indicators fail because they act too early or signal too frequently in choppy markets. This script filters out noise through two conditions: price deviation and RSI confirmation. Reversion trades are considered only when the price moves a significant distance from fair value and RSI suggests a legitimate shift in momentum. That filtering process gives the trader a cleaner, higher-quality signal and reduces false entries.
The indicator also visually supports the trader through colored bars, up/down labels, and a filled cloud between the fast and slow fusion lines. These features make the market context immediately visible: whether the trend is up or down, whether a reversal just occurred, and whether price is currently in a high-risk reversion zone.
Originality and Uniqueness
What makes this script different from most reversal systems is the way it combines layers of logic — not just to detect signals, but to qualify and structure them. Rather than relying on a single MA or a raw RSI level, it uses a five-MA fusion to create a baseline fair value that incorporates speed, stability, and volume-awareness.
On top of that, the system introduces a dual-smoothing mechanism. It doesn’t just smooth price once — it creates two layers: one to follow the general trend and another to track faster deviations. This structure lets the script distinguish between continuation moves and possible turning points more effectively than a single-line or single-metric system.
It also uses RSI in a more refined way. Instead of just checking if RSI is overbought or oversold, the script smooths RSI and requires directional confirmation. Beyond that, it includes signal memory. Once a signal is generated, a new one will not appear unless the RSI becomes even more extreme and curls back again. This memory-based gating reduces signal clutter and prevents repetition, a rare feature in similar scripts.
Why these indicators were merged
Each moving average in the fusion serves a specific role. EMA reacts quickly to recent price changes and is often favored in fast-trading strategies. SMA acts as a long-term filter and smooths erratic behavior. WMA blends responsiveness with smoothing in a more balanced way. ALMA focuses on minimizing lag without losing detail, which is helpful in fast markets. VWAP anchors price to real trade volume, giving a sense of where actual positioning is happening.
By combining all five, the script creates a fair value model that doesn’t lean too heavily on one logic type. This fusion is then smoothed into two separate EMAs: one slower (trend layer), one faster (signal layer). The difference between these forms the basis of the trend cloud, which can be toggled on or off visually.
RSI is then used to confirm whether price is reversing with enough force to warrant a trade. The RSI is calculated over a 14-period window and smoothed with a 7-period EMA. The reason for smoothing RSI is to cut down on noise and avoid reacting to short, insignificant spikes. A signal is only considered if price is stretched away from the trend line and the smoothed RSI is in a reversal state — below 30 and rising for bullish setups, above 70 and falling for bearish ones.
Calculations
The script follows this structure:
Calculate EMA, SMA, WMA, ALMA, and VWAP using the same base length
Average the five values to form the raw fusion line
Smooth the raw fusion line with an EMA using sens1 to create the fusion slow line
Smooth the raw fusion line with another EMA using sens2 to create the fusion fast line
If fusion slow is rising and price is above it, trend is bullish
If fusion slow is falling and price is below it, trend is bearish
Calculate RSI over 14 periods
Smooth RSI using a 7-period EMA
Determine deviation as the absolute difference between current price and fusion slow
A raw signal is flagged if deviation exceeds the threshold
A raw signal is flagged if RSI EMA is under 30 and rising (bullish setup)
A raw signal is flagged if RSI EMA is over 70 and falling (bearish setup)
A final signal is confirmed for a bullish setup if RSI EMA is lower than the last bullish signal’s RSI
A final signal is confirmed for a bearish setup if RSI EMA is higher than the last bearish signal’s RSI
Reset the bullish RSI memory if RSI EMA rises above 30
Reset the bearish RSI memory if RSI EMA falls below 70
Store last signal direction and use it for optional bar coloring
Draw the trend cloud between fusion fast and fusion slow using fill()
Show signal labels only if showSignals is enabled
Bar and candle colors reflect either trend slope or last signal direction depending on mode selected
How it works
Once the script is loaded, it builds a fusion line by averaging five different types of moving averages. That line is smoothed twice into a fast and slow version. These two fusion lines form the structure for identifying trend direction and signal areas.
Trend bias is defined by the slope of the slow line. If the slow line is rising and price is above it, the market is considered bullish. If the slow line is falling and price is below it, it’s considered bearish.
Meanwhile, the script monitors how far price has moved from that slow line. If price is stretched beyond a certain distance (set by the threshold), and RSI confirms that momentum is reversing, a raw reversion signal is created. But the script only allows that signal to show if RSI has moved further into oversold or overbought territory than it did at the last signal. This blocks repetitive, weak entries. The memory is cleared only if RSI exits the zone — above 30 for bullish, below 70 for bearish.
Once a signal is accepted, a label is drawn. If the signal toggle is off, no label will be shown regardless of conditions. Bar colors are controlled separately — you can color them based on trend slope or last signal, depending on your selected mode.
Inputs
You can adjust the following settings:
MA Length: Sets the period for all moving averages used in the fusion.
Show Reversion Signals: Turns on the plotting of “Up” and “Down” labels when a reversal is confirmed.
Bar Coloring: Enables or disables colored bars based on trend or signal direction.
Show Trend Cloud: Fills the space between the fusion fast and slow lines to reflect trend bias.
Bar Color Mode: Lets you choose whether bars follow trend logic or last signal direction.
Sens 1: Smoothing speed for the slow fusion line — higher values = slower trend.
Sens 2: Smoothing speed for the fast line — lower values = faster signal response.
Deviation Threshold: Minimum distance price must move from fair value to trigger a signal check.
Features
This indicator offers:
A composite fair value model using five moving average types.
Dual smoothing system with user-defined sensitivity.
Slope-based trend definition tied to price position.
Deviation-triggered signal logic filtered by RSI reversal.
RSI memory system that blocks repetitive signals and resets only when RSI exits overbought or oversold zones.
Real-time tracking of the last signal’s direction for optional bar coloring.
Up/Down labels at signal points, visible only when enabled.
Optional trend cloud between fusion layers, visualizing current market bias.
Full user control over smoothing, threshold, color modes, and visibility.
Conclusion
The Fusion Trend-Reversion System is a tool for short-term traders looking to fade price extremes without ignoring trend bias. It calculates fair value using five diverse moving averages, smooths this into two dynamic layers, and applies strict reversal logic based on RSI deviation and momentum strength. Signals are triggered only when price is stretched and momentum confirms it with increasingly strong behavior. This combination makes the tool suitable for scalping, intraday entries, and fast market environments where precision matters.
Disclaimer
This indicator is for informational and educational purposes only. It does not constitute financial advice. All trading involves risk, and no tool can predict market behavior with certainty. Use proper risk management and do your own research before making trading decisions.
Williams R Zone Scalper v1.0[BullByte]Originality & Usefulness
Unlike standard Williams R cross-over scripts, this strategy layers five dynamic filters—moving-average trend, Supertrend, Choppiness Index, Bollinger Band Width, and volume validation —and presents a real-time dashboard with equity, PnL, filter status, and key indicator values. No other public Pine script combines these elements with toggleable filters and a custom dashboard. In backtests (BTC/USD (Binance), 5 min, 24 Mar 2025 → 28 Apr 2025), adding these filters turned a –2.09 % standalone Williams R into a +5.05 % net winner while cutting maximum drawdown in half.
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What This Script Does
- Monitors Williams R (length 14) for overbought/oversold reversals.
- Applies up to five dynamic filters to confirm trend strength and volatility direction:
- Moving average (SMA/EMA/WMA/HMA)
- Supertrend line
- Choppiness Index (CI)
- Bollinger Band Width (BBW)
- Volume vs. its 50-period MA
- Plots blue arrows for Long entries (R crosses above –80 + all filters green) and red arrows for Short entries (R crosses below –20 + all filters green).
- Optionally sets dynamic ATR-based stop-loss (1.5×ATR) and take-profit (2×ATR).
- Shows a dashboard box with current position, equity, PnL, filter status, and real-time Williams R / MA/volume values.
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Backtest Summary (BTC/USD(Binance), 5 min, 24 Mar 2025 → 28 Apr 2025)
• Total P&L : +50.70 USD (+5.05 %)
• Max Drawdown : 31.93 USD (3.11 %)
• Total Trades : 198
• Win Rate : 55.05 % (109/89)
• Profit Factor : 1.288
• Commission : 0.01 % per trade
• Slippage : 0 ticks
Even in choppy March–April, this multi-filter approach nets +5 % with a robust risk profile, compared to –2.09 % and higher drawdown for Williams R alone.
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Williams R Alone vs. Multi-Filter Version
• Total P&L :
– Williams R alone → –20.83 USD (–2.09 %)
– Multi-Filter → +50.70 USD (+5.05 %)
• Max Drawdown :
– Williams R alone → 62.13 USD (6.00 %)
– Multi-Filter → 31.93 USD (3.11 %)
• Total Trades : 543 vs. 198
• Win Rate : 60.22 % vs. 55.05 %
• Profit Factor : 0.943 vs. 1.288
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Inputs & What They Control
- wrLen (14): Williams R look-back
- maType (EMA): Trend filter type (SMA, EMA, WMA, HMA)
- maLen (20): Moving-average period
- useChop (true): Toggle Choppiness Index filter
- ciLen (12): CI look-back length
- chopThr (38.2): CI threshold (below = trending)
- useVol (true): Toggle volume-above-average filter
- volMaLen (50): Volume MA period
- useBBW (false): Toggle Bollinger Band Width filter
- bbwMaLen (50): BBW MA period
- useST (false): Toggle Supertrend filter
- stAtrLen (10): Supertrend ATR length
- stFactor (3.0): Supertrend multiplier
- useSL (false): Toggle ATR-based SL/TP
- atrLen (14): ATR period for SL/TP
- slMult (1.5): SL = slMult × ATR
- tpMult (2.0): TP = tpMult × ATR
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How to Read the Chart
- Blue arrow (Long): Williams R crosses above –80 + all enabled filters green
- Red arrow (Short) : Williams R crosses below –20 + all filters green
- Dashboard box:
- Top : position and equity
- Next : cumulative PnL in USD & %
- Middle : green/white dots for each filter (green=passing, white=disabled)
- Bottom : Williams R, MA, and volume current values
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Usage Tips
- Add the script : Indicators → My Scripts → Williams R Zone Scalper v1.0 → Add to BTC/USD chart on 5 min.
- Defaults : Optimized for BTC/USD.
- Forex majors : Raise `chopThr` to ~42.
- Stocks/high-beta : Enable `useBBW`.
- Enable SL/TP : Toggle `useSL`; stop-loss = 1.5×ATR, take-profit = 2×ATR apply automatically.
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Common Questions
- * Why not trade every Williams R reversal?*
Raw Williams R whipsaws in sideways markets. Choppiness and volume filters reduce false entries.
- *Can I use on 1 min or 15 min?*
Yes—adjust ATR length or thresholds accordingly. Defaults target 5 min scalping.
- *What if all filters are on?*
Fewer arrows, higher-quality signals. Expect ~10 % boost in average win size.
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Disclaimer & License
Trading carries risk of loss. Use this script “as is” under the Mozilla Public License 2.0 (mozilla.org). Always backtest, paper-trade, and adjust risk settings to your own profile.
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Credits & References
- Pine Script v6, using TradingView’s built-in `ta.supertrend()`.
- TradingView House Rules: www.tradingview.com
Goodluck!
BullByte
Godfather of Support & Resistance Godfather of Support & Resistance
Overview
The Godfather of Support & Resistance script is a powerful tool designed to help traders identify critical support and resistance levels on their charts. These price levels are vital for understanding market behavior, as they often act as turning points where prices reverse, consolidate, or break through. By automating the detection of these levels, this script simplifies your trading decisions and enhances your technical analysis.
How It Works
Pivot Points for Level Detection:
The script uses pivot points to identify potential support (lows) and resistance (highs) levels:
A pivot high is a local peak (a high surrounded by lower highs).
A pivot low is a local trough (a low surrounded by higher lows).
You can adjust the Pivot Length (pivotLen) input to control the sensitivity of detection. Smaller values detect more levels, while larger values focus on major levels.
Dynamic Grouping with Tolerance:
The script dynamically groups nearby price levels using a tolerance percentage. This tolerance is based on the level's price, making it adaptive to all types of assets (low- and high-priced).
For example, if the tolerance is set to 1% and a level is at $100, levels within $1 are grouped together.
Touch Count for Significance:
The script tracks how many times the price interacts with each level (touch count). Only levels that meet or exceed the Minimum Touches (minTouches) input are displayed on the chart. This ensures only meaningful levels are highlighted.
Clear Visual Representation:
Resistance Levels (Red Lines): Represent areas where the price tends to reverse downward.
Support Levels (Green Lines): Represent areas where the price tends to reverse upward.
Labels are added to each level (optional) to display the price and the number of touches for better decision-making.
Inputs You Can Customize
Minimum Touches to Show Level:
Set the minimum number of price interactions required for a level to be displayed.
Maximum Lines to Keep:
Limit the number of support and resistance lines displayed to keep your chart clean and focused.
Pivot Length:
Customize the sensitivity of pivot point detection. Smaller values detect more levels, while larger values focus on key levels.
Tolerance for Touch Detection (%):
Adjust the grouping tolerance as a percentage of the price. For example, 1% groups levels that are within 1% of each other.
How to Use
Apply the Script:
Add the script to your TradingView chart, and it will automatically detect and plot support and resistance levels.
Analyze the Levels:
Use Resistance Levels (red lines) as potential sell zones or areas to place stop-loss orders above.
Use Support Levels (green lines) as potential buy zones or areas to place stop-loss orders below.
Customize for Your Trading Style:
Adjust the inputs to match your preferred strategy and the timeframe or asset you're analyzing.
Example Use Case
Imagine you're analyzing a stock:
Resistance Level: The script identifies resistance at $150 with 3 touches. This might be a potential sell zone if the price struggles to break through.
Support Level: The script identifies support at $130 with 4 touches. This might be a potential buy zone if the price shows signs of bouncing upward.
Key Features
Automatically detects and plots support and resistance levels.
Tracks the number of price touches to filter out weak levels.
Adapts dynamically to price ranges using a percentage-based tolerance.
Fully customizable to suit different trading styles and assets.
Clean and professional chart display with a limit on the number of lines.
Notes
This script is for educational purposes only and should not be considered financial advice.
Always perform your own analysis and manage risk before making trading decisions.
Why Use This Script?
The Godfather of Support & Resistance script simplifies your trading decisions by automating the detection of critical price levels. Whether you're a beginner or an experienced trader, this script is designed to save you time and help you focus on making informed trades.
Start using it today to master the art of support and resistance trading!
Let me know if you need further refinements for this description!
RSI Oversold ScannerPine Script Description for TradingView Publication
Title: RSI Oversold Scanner (1m, 5m, 15m)
Description:
The RSI Oversold Scanner is a powerful tool designed to identify stocks that are simultaneously oversold on the 1-minute, 5-minute, and 15-minute timeframes, based on the Relative Strength Index (RSI). This script is ideal for traders seeking short-term reversal or momentum opportunities across multiple intraday timeframes.
Key Features:
Multi-Timeframe RSI Analysis: Calculates RSI (default length: 14) on the 1m, 5m, and 15m timeframes and checks if all are below the oversold threshold (default: 30).
Visual Output: Displays a table in the top-right corner showing RSI values and oversold status ("Yes" or "No") for each timeframe, making it easy to verify conditions.
Scan Result: Plots a value of 1 when all three timeframes are oversold, or 0 otherwise, enabling quick identification of matching stocks.
Alert Support: Includes an alert condition that triggers when a stock is oversold on all timeframes, with a customizable message for real-time notifications.
User-Friendly: Built with Pine Script v6 for compatibility and reliability, with clear visual feedback for traders of all levels.
How It Works:
The script uses ta.rsi to compute RSI on the current chart’s timeframe (1m) and request.security to fetch RSI data for the 5m and 15m timeframes.
It checks if RSI is below the oversold level (default: 30) on all three timeframes.
A table displays the RSI values and oversold status for easy debugging.
The Scan Result plot (1 or 0) indicates whether the stock meets the oversold criteria, which can be used for manual scanning or alerts.
Usage Instructions:
Add the script to your chart via Pine Editor.
Use a watchlist to switch between stocks and check the table or Scan Result for oversold conditions.
Set alerts by selecting the script’s Scan Result condition (value = 1) to get notified when a stock is oversold on all timeframes.
Customize the RSI length or oversold level in the script’s code if needed (e.g., change rsiLength or oversoldLevel).
Notes:
Best used on intraday charts (e.g., 1m or higher) with a watchlist for manual scanning, as TradingView’s Stock Screener does not directly support custom Pine Scripts.
Real-time alerts and intraday data may require a TradingView paid plan.
The script uses only two request.security calls, staying well within Pine Script’s limits.
Ideal For:
Day traders and swing traders looking for oversold stocks across multiple intraday timeframes.
Users who want to combine technical analysis with visual and alert-based confirmation.
TestMA-STATEOverview:
This Pine Script (version 6) is designed to generate trading events based on moving average (MA) behavior and dynamically calculated percentiles. It leverages a custom state machine library (version 7) from decrypt_capital to track and manage state transitions related to MA conditions, and it triggers alerts (and optionally, chart labels) when specific state transitions occur.
Key Components:
License & Metadata:
The script is distributed under the Mozilla Public License 2.0.
It carries copyright by decrypt_capital.
The title ("TestMA-STATE") and short title ("MA-STATE") are defined, and the script runs on an overlay with extended backtracking and drawing limits.
State Machine Integration:
The script imports the lib_statemachine_modified library (version 7) using the alias modSM.
A persistent state machine instance (MovingAverageDirection_SM) is created to manage various MA-related states.
Several state constants are defined to represent different market conditions, such as:
MA_SHORT_ABOVE_OVERBOUGHT: When the short MA low is above the overbought threshold.
MA_SHORT_CROSSUNDER_MID & MA_SHORT_CROSSUNDER_BIG: Conditions for bearish crossunders.
MA_SHORT_BELOW_OVERSOLD: When the short MA high is below the oversold threshold.
MA_SHORT_CROSSOVER_MID & MA_SHORT_CROSSOVER_BIG: Conditions for bullish crossovers.
Inputs & MA Calculation:
Users can choose the type of moving average (EMA, SMA, WMA, VWMA) and adjust lengths for short, mid, and big MAs.
Additional inputs include lookback length for percentile calculations and percentile thresholds for determining overbought and oversold boundaries.
The script computes:
Short MA Low and High: Based on the low and high series.
Mid MA and Big MA: Based on the average price (ohlc4).
Dynamic Percentile Boundaries:
Two functions (f_getPercentile() and f_getPercentileArr()) calculate dynamic percentile values from the MA data.
These functions determine the oversold and overbought boundaries used in the state transition conditions.
Timestamp & Alert Header Formatting:
A helper function (f_formatTimestamp()) formats timestamps into a human-readable form (e.g., "Tue 12 Mar 16:30").
This formatted time, along with ticker information and other details, is used to build an alert header.
State Transitions & Alerts:
The script calls the state machine’s step() method multiple times with conditions based on the relationship between MA values and the percentile boundaries.
For example:
A bullish condition is triggered when the short MA low moves above the overbought threshold.
A bearish condition is triggered when the short MA high falls below the oversold boundary.
Transitions are further refined by checking if the MA is rising or falling.
When specific state transitions occur (e.g., MA_SHORT_CROSSOVER_MID after MA_SHORT_BELOW_OVERSOLD), the script:
Checks that the transition is recent (using the barsSinceState() method).
Optionally creates a label on the chart.
Triggers an alert with a descriptive message.
Chart Plotting:
The script plots the calculated moving averages (short, mid, and optionally big) on the chart.
It also plots the dynamic percentile boundaries for visual reference.
Purpose & Usage:
Trading Signal Generation:
The primary goal is to monitor key MA conditions and trigger alerts when significant crossovers or crossunders occur. These events—such as bullish crossovers when the market recovers from oversold conditions or bearish crossunders when the market retracts from overbought conditions—can be used as trading signals.
Visualization:
Users have options to display the various moving averages and percentile boundaries directly on the chart, as well as optional labels that mark when an alert is generated.
Alerting:
When specific state transitions are detected, the script constructs and sends an alert message with a timestamp, ticker, and descriptive text, aiding traders in making timely decisions.
Enhanced VSA Volume & Candle Colors with MA SelectionOverview:
This script aims to enhance the visualization of volume spikes and price action by coloring volume bars and price candles dynamically based on the volume behavior. It allows traders to customize the type of volume moving average (SMA, EMA, or VWMA) used and apply various color schemes to highlight high, low, and extreme volume conditions. Additionally, alerts are generated when extreme or low-volume conditions occur.
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Key Features:
Customizable Volume Lookback Period:
The script allows users to define the period for calculating the moving average of volume (default: 200).
Volume Multiplier Settings:
High and low volume thresholds are defined using multipliers. Users can adjust these to customize how volume is categorized (default multipliers: 1.5 for high volume, 0.5 for low volume).
Percentile-Based Extreme Volume Detection:
The script calculates a percentile threshold for extreme volume (default: 90th percentile) based on the volume data, highlighting exceptionally high volume spikes.
Moving Average Selection:
Users can choose between Simple Moving Average (SMA), Exponential Moving Average (EMA), or Volume Weighted Moving Average (VWMA) to track volume trends over the selected lookback period.
Volume-Based Price Bar Coloring:
Price bars can be colored according to the volume conditions (high, low, or extreme). This feature can be toggled on or off.
Dynamic Transparency and Color Customization:
The script allows users to set custom colors for different volume conditions (high, low, neutral, extreme) and adjusts the transparency of volume bars based on the relative size of the volume.
Alerts:
Alerts can be set for when extreme volume spikes or low volume conditions are detected.
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Script Components:
Volume Histogram Plot:
Displays the volume bars with dynamic coloring based on the volume condition (high, low, or extreme). The color of the bars adjusts for clarity, with transparency based on volume levels.
Moving Average Plot:
Plots the selected volume moving average (SMA, EMA, or VWMA) to visualize the trend of volume over the chosen lookback period.
Smoothed Average Volume (EMA of Volume):
A smoothed EMA line is plotted to provide a clear representation of volume trends over time.
Price Bar Coloring:
If enabled, price bars are colored according to the current volume condition, providing immediate visual feedback to the trader.
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How It Can Be Used:
Volume Analysis for Entry/Exit Points: Traders can use the volume conditions (high, low, and extreme) to identify potential entry or exit points. High-volume bars often signal strong market activity, while low-volume bars may indicate consolidation or indecision.
Volume Confirmation for Trend Reversal: Extreme volume spikes can sometimes precede significant price movements. Traders can monitor these spikes for potential trend reversal signals.
Customizing Alerts: Alerts based on volume conditions help traders stay updated on important volume events without constantly monitoring the chart.
Color-Coded Price Action: The dynamic coloring of price bars makes it easier to identify periods of strong or weak market participation, allowing traders to make informed decisions quickly.
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Compliance with TradingView's House Rules:
No Promotion of Financial Products: The script does not promote any specific financial instruments or products, ensuring compliance with TradingView’s content guidelines.
Clear Functionality: The script provides clear, functional analysis tools without making unsupported claims about predicting market movements.
No Automated Trading: The script does not include any automated trading or order execution features, which complies with TradingView’s policy on non-automated scripts.
This breakdown ensures clarity on the script’s purpose, features, and how it might be used by traders. It's written in a way that fits TradingView's content guidelines, keeping the focus on providing valuable analytical tools rather than making promises or promoting any financial product.
Kernel Regression Envelope with SMI OscillatorThis script combines the predictive capabilities of the **Nadaraya-Watson estimator**, implemented by the esteemed jdehorty (credit to him for his excellent work on the `KernelFunctions` library and the original Nadaraya-Watson Envelope indicator), with the confirmation strength of the **Stochastic Momentum Index (SMI)** to create a dynamic trend reversal strategy. The core idea is to identify potential overbought and oversold conditions using the Nadaraya-Watson Envelope and then confirm these signals with the SMI before entering a trade.
**Understanding the Nadaraya-Watson Envelope:**
The Nadaraya-Watson estimator is a non-parametric regression technique that essentially calculates a weighted average of past price data to estimate the current underlying trend. Unlike simple moving averages that give equal weight to all past data within a defined period, the Nadaraya-Watson estimator uses a **kernel function** (in this case, the Rational Quadratic Kernel) to assign weights. The key parameters influencing this estimation are:
* **Lookback Window (h):** This determines how many historical bars are considered for the estimation. A larger window results in a smoother estimation, while a smaller window makes it more reactive to recent price changes.
* **Relative Weighting (alpha):** This parameter controls the influence of different time frames in the estimation. Lower values emphasize longer-term price action, while higher values make the estimator more sensitive to shorter-term movements.
* **Start Regression at Bar (x\_0):** This allows you to exclude the potentially volatile initial bars of a chart from the calculation, leading to a more stable estimation.
The script calculates the Nadaraya-Watson estimation for the closing price (`yhat_close`), as well as the highs (`yhat_high`) and lows (`yhat_low`). The `yhat_close` is then used as the central trend line.
**Dynamic Envelope Bands with ATR:**
To identify potential entry and exit points around the Nadaraya-Watson estimation, the script uses **Average True Range (ATR)** to create dynamic envelope bands. ATR measures the volatility of the price. By multiplying the ATR by different factors (`nearFactor` and `farFactor`), we create multiple bands:
* **Near Bands:** These are closer to the Nadaraya-Watson estimation and are intended to identify potential immediate overbought or oversold zones.
* **Far Bands:** These are further away and can act as potential take-profit or stop-loss levels, representing more extreme price extensions.
The script calculates both near and far upper and lower bands, as well as an average between the near and far bands. This provides a nuanced view of potential support and resistance levels around the estimated trend.
**Confirming Reversals with the Stochastic Momentum Index (SMI):**
While the Nadaraya-Watson Envelope identifies potential overextended conditions, the **Stochastic Momentum Index (SMI)** is used to confirm a potential trend reversal. The SMI, unlike a traditional stochastic oscillator, oscillates around a zero line. It measures the location of the current closing price relative to the median of the high/low range over a specified period.
The script calculates the SMI on a **higher timeframe** (defined by the "Timeframe" input) to gain a broader perspective on the market momentum. This helps to filter out potential whipsaws and false signals that might occur on the current chart's timeframe. The SMI calculation involves:
* **%K Length:** The lookback period for calculating the highest high and lowest low.
* **%D Length:** The period for smoothing the relative range.
* **EMA Length:** The period for smoothing the SMI itself.
The script uses a double EMA for smoothing within the SMI calculation for added smoothness.
**How the Indicators Work Together in the Strategy:**
The strategy enters a long position when:
1. The closing price crosses below the **near lower band** of the Nadaraya-Watson Envelope, suggesting a potential oversold condition.
2. The SMI crosses above its EMA, indicating positive momentum.
3. The SMI value is below -50, further supporting the oversold idea on the higher timeframe.
Conversely, the strategy enters a short position when:
1. The closing price crosses above the **near upper band** of the Nadaraya-Watson Envelope, suggesting a potential overbought condition.
2. The SMI crosses below its EMA, indicating negative momentum.
3. The SMI value is above 50, further supporting the overbought idea on the higher timeframe.
Trades are closed when the price crosses the **far band** in the opposite direction of the trade. A stop-loss is also implemented based on a fixed value.
**In essence:** The Nadaraya-Watson Envelope identifies areas where the price might be deviating significantly from its estimated trend. The SMI, calculated on a higher timeframe, then acts as a confirmation signal, suggesting that the momentum is shifting in the direction of a potential reversal. The ATR-based bands provide dynamic entry and exit points based on the current volatility.
**How to Use the Script:**
1. **Apply the script to your chart.**
2. **Adjust the "Kernel Settings":**
* **Lookback Window (h):** Experiment with different values to find the smoothness that best suits the asset and timeframe you are trading. Lower values make the envelope more reactive, while higher values make it smoother.
* **Relative Weighting (alpha):** Adjust to control the influence of different timeframes on the Nadaraya-Watson estimation.
* **Start Regression at Bar (x\_0):** Increase this value if you want to exclude the initial, potentially volatile, bars from the calculation.
* **Stoploss:** Set your desired stop-loss value.
3. **Adjust the "SMI" settings:**
* **%K Length, %D Length, EMA Length:** These parameters control the sensitivity and smoothness of the SMI. Experiment to find settings that work well for your trading style.
* **Timeframe:** Select the higher timeframe you want to use for SMI confirmation.
4. **Adjust the "ATR Length" and "Near/Far ATR Factor":** These settings control the width and sensitivity of the envelope bands. Smaller ATR lengths make the bands more reactive to recent volatility.
5. **Customize the "Color Settings"** to your preference.
6. **Observe the plots:**
* The **Nadaraya-Watson Estimation (yhat)** line represents the estimated underlying trend.
* The **near and far upper and lower bands** visualize potential overbought and oversold zones based on the ATR.
* The **fill areas** highlight the regions between the near and far bands.
7. **Look for entry signals:** A long entry is considered when the price touches or crosses below the lower near band and the SMI confirms upward momentum. A short entry is considered when the price touches or crosses above the upper near band and the SMI confirms downward momentum.
8. **Manage your trades:** The script provides exit signals when the price crosses the far band. The fixed stop-loss will also close trades if the price moves against your position.
**Justification for Combining Nadaraya-Watson Envelope and SMI:**
The combination of the Nadaraya-Watson Envelope and the SMI provides a more robust approach to identifying potential trend reversals compared to using either indicator in isolation. The Nadaraya-Watson Envelope excels at identifying potential areas where the price is overextended relative to its recent history. However, relying solely on the envelope can lead to false signals, especially in choppy or volatile markets. By incorporating the SMI as a confirmation tool, we add a momentum filter that helps to validate the potential reversals signaled by the envelope. The higher timeframe SMI further helps to filter out noise and focus on more significant shifts in momentum. The ATR-based bands add a dynamic element to the entry and exit points, adapting to the current market volatility. This mashup aims to leverage the strengths of each indicator to create a more reliable trading strategy.
G&S SMT### Description of the Pine Script
This Pine Script is designed to identify **Smart Money Technique (SMT)** setups between **Gold (GC1!)** and **Silver (SI1!) Futures** on a **15-minute timeframe**. It specifically looks for divergences between the price movements of Gold and Silver over the last 4 candles and compares it with the next candle's price movement. The script provides **Bullish** and **Bearish** signals for SMT during a specified time range of **8:45 AM EST to 10:30 AM EST**.
### Key Features of the Script:
1. **Futures Symbols**:
- The script uses **Gold Futures (GC1!)** and **Silver Futures (SI1!)** on a 15-minute timeframe to monitor their price movements.
2. **Time Range Filtering**:
- The signals are only active between **8:45 AM EST and 10:30 AM EST**, ensuring that the script only signals within the most relevant trading hours for your strategy.
3. **SMT Calculation (Last 4 Candles vs Next Candle)**:
- **Gold and Silver Price Change Calculation**: The script compares the price changes of **Gold** and **Silver** over the **last 4 candles** and then compares them with the price movement of the **next candle**:
- **Bullish SMT**: Occurs when Gold shows an increase in the last 4 candles while Silver shows a decrease, and both Gold and Silver show an increase in the next candle.
- **Bearish SMT**: Occurs when Gold shows a decrease in the last 4 candles while Silver shows an increase, and both Gold and Silver show a decrease in the next candle.
4. **Bullish and Bearish Signals**:
- **Bullish SMT Signal**: The script will plot a **green** arrow below the bar when a Bullish SMT setup is identified.
- **Bearish SMT Signal**: A **red** arrow above the bar is plotted when a Bearish SMT setup is identified.
5. **Gold and Silver Difference Plot**:
- The difference between the prices of **Gold** and **Silver** is plotted as a **blue line**, giving a visual representation of the relationship between the two assets. When the difference line moves significantly, it can indicate a potential divergence or convergence in the prices of Gold and Silver.
### Script Logic Breakdown:
1. **Price Change for Last 4 Candles**:
- The script calculates the price change for Gold and Silver from the 4th-to-last candle to the last candle.
- `gold_change_last4` and `silver_change_last4` calculate these price differences.
2. **Price Change for Next Candle**:
- It then calculates the price change from the last candle to the next candle.
- `gold_change_next` and `silver_change_next` calculate these price differences.
3. **Bullish SMT Condition**:
- If Gold increased while Silver decreased in the last 4 candles, and both Gold and Silver show an increase in the next candle, it indicates a **Bullish SMT**.
4. **Bearish SMT Condition**:
- If Gold decreased while Silver increased in the last 4 candles, and both Gold and Silver show a decrease in the next candle, it indicates a **Bearish SMT**.
5. **Time Filter**:
- Signals are only plotted when the current time is between **8:45 AM EST and 10:30 AM EST** to match your preferred trading hours.
### Visualization:
- **Bullish Signals**: Plotted as **green arrows** below the bars when a Bullish SMT setup is identified.
- **Bearish Signals**: Plotted as **red arrows** above the bars when a Bearish SMT setup is identified.
- **Gold - Silver Difference**: A **blue line** is plotted to show the price difference between Gold and Silver, helping visualize any divergence.
### How It Helps:
- **Divergence Identification**: This script highlights potential divergences between Gold and Silver Futures, which can provide insights into market sentiment and smart money movements.
- **Focus on Relevant Time Frame**: By filtering signals between 8:45 AM EST and 10:30 AM EST, you are focusing on a timeframe that can be more beneficial for trading.
- **Visual Clarity**: The arrows and the price difference line provide clear signals and a visual representation of the relationship between Gold and Silver, helping you make informed trading decisions.
This script is an automated approach to detecting **SMT setups** and helping traders recognize when Gold and Silver might be signaling a bullish or bearish move based on their divergence patterns.
Weighted Fourier Transform: Spectral Gating & Main Frequency🙏🏻 This drop has 2 purposes:
1) to inform every1 who'd ever see it that Weighted Fourier Tranform does exist, while being available nowhere online, not even in papers, yet there's nothing incredibly complicated about it, and it can/should be used in certain cases;
2) to show TradingView users how they can use it now in dem endevours, to show em what spectral filtering is, and what can they do with all of it in diy mode.
... so we gonna have 2 sections in the description
Section 1: Weighted Fourier Transform
It's quite easy to include weights in Fourier analysis: you just premultiply each datapoint by its corresponding weight -> feed to direct Fourier Transform, and then divide by weights after inverse Fourier transform. Alternatevely, in direct transform you just multiply contributions of each data point to the real and imaginary parts of the Fourier transform by corresponding weights (in accumulation phase), and in inverse transform you divide by weights instead during the accumulation phase. Everything else stays the same just like in non-weighted version.
If you're from the first target group let's say, you prolly know a thing or deux about how to code & about Fourier Transform, so you can just check lines of code to see the implementation of Weighted Discrete version of Fourier Transform, and port it to to any technology you desire. Pine Script is a developing technology that is incredibly comfortable in use for quant-related tasks and anything involving time series in general. While also using Python for research and C++ for development, every time I can do what I want in Pine Script, I reach for it and never touch matlab, python, R, or anything else.
Weighted version allows you to explicetly include order/time information into the operation, which is essential with every time series, although not widely used in mainstream just as many other obvious and right things. If you think deeply, you'll understand that you can apply a usual non-weighted Fourier to any 2d+ data you can (even if none of these dimensions represent time), because this is a geometric tool in essence. By applying linearly decaying weights inside Fourier transform, you're explicetly saying, "one of these dimensions is Time, and weights represent the order". And obviously you can combine multiple weightings, eg time and another characteristic of each datum, allows you to include another non-spatial dimension in your model.
By doing that, on properly processed (not only stationary but Also centered around zero data), you can get some interesting results that you won't be able to recreate without weights:
^^ A sine wave, centered around zero, period of 16. Gray line made by: DWFT (direct weighted Fourier transform) -> spectral gating -> IWFT (inverse weighted Fourier transform) -> plotting the last value of gated reconstructed data, all applied to expanding window. Look how precisely it follows the original data (the sine wave) with no lag at all. This can't be done by using non-weighted version of Fourier transform.
^^ spectral filtering applied to the whole dataset, calculated on the latest data update
And you should never forget about Fast Fourier Transform, tho it needs recursion...
Section 2: About use cases for quant trading, about this particular implementaion in Pine Script 6 (currently the latest version as of Friday 13, December 2k24).
Given the current state of things, we have certain limits on matrix size on TradingView (and we need big dope matrixes to calculate polynomial regression -> detrend & center our data before Fourier), and recursion is not yet available in Pine Script, so the script works on short datasets only, and requires some time.
A note on detrending. For quality results, Fourier Transform should be applied to not only stationary but also centered around zero data. The rightest way to do detrending of time series
is to fit Cumulative Weighted Moving Polynomial Regression (known as WLSMA in some narrow circles xD) and calculate the deltas between datapoint at time t and this wonderful fit at time t. That's exactly what you see on the main chart of script description: notice the distances between chart and WLSMA, now look lower and see how it matches the distances between zero and purple line in WFT study. Using residuals of one regression fit of the whole dataset makes less sense in time series context, we break some 'time' and order rules in a way, tho not many understand/cares abouit it in mainstream quant industry.
Two ways of using the script:
Spectral Gating aka Spectral filtering. Frequency domain filtering is quite responsive and for a greater computational cost does not introduce a lag the way it works with time-domain filtering. Works this way: direct Fourier transform your data to get frequency & phase info -> compute power spectrum out of it -> zero out all dem freqs that ain't hit your threshold -> inverse Fourier tranform what's left -> repeat at each datapoint plotting the very first value of reconstructed array*. With this you can watch for zero crossings to make appropriate trading decisions.
^^ plot Freq pass to use the script this way, use Level setting to control the intensity of gating. These 3 only available values: -1, 0 and 1, are the general & natural ones.
* if you turn on labels in script's style settings, you see the gray dots perfectly fitting your data. They get recalculated (for the whole dataset) at each update. You call it repainting, this is for analytical & aesthetic purposes. Included for demonstration only.
Finding main/dominant frequency & period. You can use it to set up Length for your other studies, and for analytical purposes simply to understand the periodicity of your data.
^^ plot main frequency/main period to use the script this way. On the screenshot, you can see the script applied to sine wave of period 16, notice how many datapoints it took the algo to figure out the signal's period quite good in expanding window mode
Now what's the next step? You can try applying signal windowing techniques to make it all less data-driven but your ego-driven, make a weighted periodogram or autocorrelogram (check Wiener-Khinchin Theorem ), and maybe whole shiny spectrogram?
... you decide, choice is yours,
The butterfly reflect the doors ...
∞
