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Customizable Trend Direction (Open-Source)Hello everyone I received a ton of requests for this script so I decided to share it I did it for a client who didn't want to pay (you can all blame... or even thank him for this script) in the end and I don't want to sell it on my website. Not because it's not interesting but because my website will be a place to showcase and rent the Algorithm Builders mostly What is it about? Basically, it shows how you could convert a plotshape into a label.new object. Very interesting if you want someday to convert your V3 script into V4 With this script, it shows that you can in V4 ( but couldn't do in V3 ) do the followings : - change dynamically the size (from tiny to huge) of any object - change dynamically the text (from whatever to whatever) of any object Screenshot of the user interface imgur.com Other use cases I did it with the Trend Direction but could work with anything really. - Any indicator with a visual signal. You can know personalized from a user interface the text, size and also the vertical shift. I didn't do it for that one but label.new takes a (x,y) coordinates so playing with y is fairly easy to achieve a dynamic vertical shift - Even with this script Plotchar-How-to-draw-external-symbols-on-a-chart/ but would require to be updated with a label.new object and with a shape.none parameter so that we'll only see the icon/symbol displayed - The colors also can be change dynamically using presets Presets-Selector-FRIDAY-NIGHT-CHALLENGE/ . If you have an indicator showing a BULLISH and a BEARISH signal, then you could, for instance, configure colors presets according to the timeframe of the chart or the indicator input, etc (sky is the limit ^^) Be sure to hit the thumbs up at it motivates me to research what Pinescript can offer and share with the community Dave ____________________________________________________________ - 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
Pine Script® indicator
by Daveatt
12
Trend Impulse FilterIntroduction There is a lot of indicators similar to this one, however i think this one don't share the same calculation method and this is why i share it. This indicator aim to forecast price direction using an exponential filter architecture using highest and lowest information for the estimation of a smoothing variable. This filter is similar to the average Max-Min filter. The Indicator In the code a is equal to 1 when the price is greater or lower than any past price over length period, else a is equal to 0. The center parameter control the filtering degree of the output, when center is equal to 1 and a = 1 the indicator return the highest or lowest depending on market current trend, when center is superior to 1 the output will be smoother, however the reactivity of the indicator will still depend on the length parameter. A color option show you the trend of the market, however the generated signals are the same that can be generated from a Donchian channel. When highest is greater than previous highest the indicator direction will move upward, else if lowest is lower than previous lowest the indicator direction will move downward. Therefore the indicator can give information on the Donchian channels direction and provide a nice filter. Conclusions Adapting to highest and lowest can make an indicator adapt to the essence of trend trading, the indicator i showed can be used as source for others indicator or in MA crossover strategies. If you have a strategy using Donchian channels you may be interested in using this indicator and se how it fit in your strategy. Hope you like it. Thanks for reading !
Pine Script® indicator
by alexgrover
13
[TH] Adaptive Trend : StrategyAdaptive Trend : Strategy *** It should be used with 'heikin ashi' chart *** Super Trend Basically, it is super trend strategy ( Rajandran R Supertrend ) - My idea is, 1. (scale) Factor of super trend is related with sensitivity of Up/Down trend change 2. Constant Factor cause failure of super trend strategy when market prices variance is low ( ie. high Factor ==> miss short trend ) 3. By using variance measure ( like BollingerBand ) as a varying Factor, maybe we can catch short trend and long trend together Loss Cut The silver thick line is loss cut line & silver background means exit position status I found that silver background is appear usually when price moves horizontally 1. It is set to open price of actual position entry ( heikin ashi chart's open price = loss cut line = (open + close)/2 ) 2. If position is long ==> loss cut is executed when low price is lower than loss cut line ==> re-entry when low price is higher than loss cut line 3. If Position is short ==> loss cut is executed when high price is higher than loss cut line ==> re-entry when high price is lower than loss cut lin
Pine Script® strategy
by TaehoKang
Trend is your friendThis indicator evaluates the trend based on crosses of two McGinley moving averages. It paints candles accordingly (it does not repaint), so you can see what the indicator is saying more clearly and stay in your trade until you see a period of consolidation or a reversal. You can control how far away those moving averages need to be for you to consider it a trend. If this distance is not met candles color is not changed and it shows you that the market is in a period of consolidation. I also added visualization of RSI, so you can have an easier time finding appropriate profit targets. For stop loss I would recommend placing it a couple points above or below the previous high / low that is located above / below you final target for entry. You can also use a certain percentage that works for you. I tried adding a stop loss based on ATR, but I did not like the results. Using market structure is a better choice in my opinion. Here is a basic trading strategy for the default settings: Wait for the indicator to start printing a series of green or red candles. After that you can enter a long or a short around moving averages. Another valid place to entry is the specific RSI zone. If we are in an uptrend buying when RSI is oversold can be beneficial as you expect market to recover. I do not recommend changing RSI from 14. Vice versa for the downtrend. It gives you an edge as you know at what price RSI will be oversold and allows you to place trades in advance. Pretty neat! You need to realize that no indicator or strategy can give you an exact entry. There will always be some margin of error. What I wanted to say is that if there is a strong trend up and you buy around your key moving averages and when RSI is oversold you entered in good places and there is a pretty good chance you will make money. Time frame settings: If you want to use tighter stop losses I would recommend sticking to 15m. Do not go lower. It is not worth the stress. 1h and 4h seems to be very good as well, but expect your stop losses to be wider. What I personally tend to do is display 15m, 30m and 1h and compare it. Think of it as a short, mid and long term. That way you can see things little bit better. Examples: 1H chart BTC 4h chart EUR / USD 1D chart NASDAQ 15m chart BTC (Daytrading) That last chart shows that even if you were longing while the trend was about to change you still had a good chance to close it with a little profit and switch to short easily. The default settings is what has worked the best for me. Feel free to change them as you see fit and do not forget to let me know if you find something that works better :) Notes: Either disable wick display or change it to a neutral color like gray for both green and red candles. Unfortunately pine script does not allow wick painting, so if you have red / green wicks it will look terrible. If RSI visualization makes your candles look too small you can go to settings and disable the display of individual RSI levels. You will still be able to see the zones, but the scale won't be affected.
Pine Script® indicator
by Jigga_StRiKeR
7
Multiple Trend İndicator+ By BD4 different color trend show for weekly, daily and 4 hours. red : mavilim downtrend, and mavilim below the wma21 orange : mavilim uptrend, and mavilim below the wma21 lime : mavilim downtrend, and mavilim above the wma21 green : mavilim uptrend, and mavilim above the wma21 also on the current chart; u can show current mavilim, weekly wma21, daily wma21 and 4hours wma21. also you can add code into your frequently used indicator. I hope this helps you. sorry i don't know enough english for detailed description. you can try and learn more
Pine Script® indicator
by bilgindurmaz