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Session candles & reversals / quantifytools— Overview Like traditional candles, session based candles are a visualization of open, high, low and close values, but based on session time periods instead of typical timeframes such as daily or weekly. Session candles are formed by fetching price at session start (open), highest price during session (high), lowest price during session (low) and price at session end (close). On top of candles, session based moving average is formed and session reversals detected. Session reversals are also backtested, using win rate and magnitude metrics to better understand what to expect from session reversals and which ones have historically performed the best. By default, following session time periods are used: Session #1: London (08:00 - 17:00, UTC) Session #2: New York (13:00 - 22:00, UTC) Session #3: Sydney (21:00 - 06:00, UTC) Session #4: Tokyo (00:00 - 09:00, UTC) Session time periods can be changed via input menu. — Reversals Session reversals are patterns that show a rapid change in direction during session. These formations are more familiarly known as wicks or engulfing candles. Following criteria must be met to qualify as a session reversal: Wick up: Lower high, lower low, close >= 65% of session range (0% being the very low, 100% being the very high) and open >= 40% of session range. Wick down: Higher high, higher low, close <= 35% of session range and open <= 60% of session range. Engulfing up: Higher high, lower low, close >= 65% of session range. Engulfing down: Higher high, lower low, close <= 35% of session range. Session reversals are always based on prior corresponding session , e.g. to qualify as a NY session engulfing up, NY session must have a higher high and lower low relative to prior NY session , not just any session that has taken place in between. Session reversals should be viewed the same way wicks/engulfing formations are viewed on traditional timeframe based candles. Essentially, wick reversals (light green/red labels) tell you most of the motion during session was reversed. Engulfing reversals (dark green/red labels) on the other hand tell you all of the motion was reversed and new direction set. — Backtesting Session reversals are backtested using win rate and magnitude metrics. A session reversal is considered successful when next corresponding session closes higher/lower than session reversal close . Win rate is formed by dividing successful session reversal count with total reversal count, e.g. 5 successful reversals up / 10 reversals up total = 50% win rate. Win rate tells us what are the odds (historically) of session reversal producing a clean supporting move that was persistent enough to close that way too. When a session reversal is successful, its magnitude is measured using percentage increase/decrease from session reversal close to next corresponding session high/low . If NY session closes higher than prior NY session that was a reversal up, the percentage increase from prior session close (reversal close) to current session high is measured. If NY session closes lower than prior NY session that was a reversal down, the percentage decrease from prior session close to current session low is measured. Average magnitude is formed by dividing all percentage increases/decreases with total reversal count, e.g. 10 total reversals up with 1% increase each -> 10% net increase from all reversals -> 10% total increase / 10 total reversals up = 1% average magnitude. Magnitude metric supports win rate by indicating the depth of successful session reversal moves. To better understand the backtesting calculations and more importantly to verify their validity, backtesting visuals for each session can be plotted on the chart: All backtesting results are shown in the backtesting panel on top right corner, with highest win rates and magnitude metrics for both reversals up and down marked separately. Note that past performance is not a guarantee of future performance and session reversals as they are should not be viewed as a complete strategy for long/short plays. Always make sure reversal count is sufficient to draw reliable conclusions of performance. — Session moving average Users can form a session based moving average with their preferred smoothing method (SMA , EMA , HMA , WMA , RMA) and length, as well as choose which sessions to include in the moving average. For example, a moving average based on New York and Tokyo sessions can be formed, leaving London and Sydney completely out of the calculation. — Visuals By default, script hides your candles/bars, although in the case of candles borders will still be visible. Switching to bars/line will make your regular chart visuals 100% hidden. This setting can be turned off via input menu. As some sessions overlap, each session candle can be separately offsetted forward, clearing the overlaps. Users can also choose which session candles to show/hide. Session periods can be highlighted on the chart as a background color, applicable to only session candles that are activated. By default, session reversals are referred to as L (London), N (New York), S (Sydney) and T (Tokyo) in both reversal labels and backtesting table. By toggling on "Numerize sessions", these will be replaced with 1, 2, 3 and 4. This will be helpful when using a custom session that isn't any of the above. Visual settings example: Session candles are plotted in two formats, using boxes and lines as well as plotcandle() function. Session candles constructed using boxes and lines will be clear and much easier on the eyes, but will apply only to first 500 bars due to Tradingview related limitations. Rest of the session candles go back indefinitely, but won't be as clean: All colors can be customized via input menu. — Timeframe & session time period considerations As a rule of thumb, session candles should be used on timeframes at or below 1H, as higher timeframes might not match with session period start/end, leading to incorrect plots. Using 1 hour timeframe will bring optimal results as greatest amount historical data is available without sacrificing accuracy of OHLC values. If you are using a custom session that is not based on hourly period (e.g. 08:00 - 15:00 vs. 08.00 - 15.15) make sure you are using a timeframe that allows correct plots. Session time periods applied by default are rough estimates and might be out of bounds on some charts, like NYSE listed equities. This is rarely a problem on assets that have extensive trading hours, like futures or cryptocurrency. If a session is out of bounds (asset isn't traded during the set session time period) the script won't plot given session candle and its backtesting metrics will be NA. This can be fixed by changing the session time periods to match with given asset trading hours, although you will have to consider whether or not this defeats the purpose of having candles based on sessions. — Practical guide Whether based on traditional timeframes or sessions, reversals should always be considered as only one piece of evidence of price turning. Never react to them without considering other factors that might support the thesis, such as levels and multi-timeframe analysis. In short, same basic charting principles apply with session candles that apply with normal candles. Use discretion. Example #1 : Focusing efforts on session reversals at distinct support/resistance levels A reversal against a level holds more value than a reversal by itself, as you know it's a placement where liquidity can be expected. A reversal serves as a confirming reaction for this expectation. Example #2 : Focusing efforts on highest performing reversals and avoiding poorly performing ones As you have data backed evidence of session reversal performance, it makes sense to focus your efforts on the ones that perform best. If some session reversal is clearly performing poorly, you would want to avoid it, since there's nothing backing up its validity. Example #3 : Reversal clusters Two is better than one, three is better than two and so on. If there are rapid changes in direction within multiple sessions consecutively, there's heavier evidence of a dynamic shift in price. In such case, it makes sense to hold more confidence in price halting/turning.
Pine Script® indicator
by quantifytools
11
Multi PivotsThis script is meant for day traders. It's based on the CPR concepts. The pivots plots based on the timeframe, means less that 15minuts it will plot daily pivots, less that daily tf, it plots weekly and then monthly. It also includes Camarillas, ADR levels, Fibonacci levels based on last 500 candles, Fib pivots, Pivot zones, developing pivot, Vwap, Dashboard shows RSI,ADX,Vwap,SuperTrend and day price difference. Options available to plot Day HighLow, Initial Balance levels as well. There is option to show running CPR which highlights virgin CPR. It can plot next day pivots as well I dont own any of codes or ideas in the script. Codes are taken from different scripts and altered based on the requirements. Kudos to all the great pinecoders who provided their codes as public which helps everyone. Thanks
Pine Script® indicator
by tyffy_2k
4
Newzage - Fed Net LiquidityThe Fed Net Liquidity indicator is a concept discovered by Max Anderson to calculate the fair value of SPX (S&P 500 Index). The formula he shared on Twitter uses the Fed Balance Sheet, TGA (Treasury General Account), and Reverse Repo. Net Liquidity = Fed Balance Sheet - (TGA + Reverse Repo) The data for each component above is accessible on the FRED website. Fed Balance Sheet fred.stlouisfed.org Treasury General Account (TGA) fred.stlouisfed.org Reverse Repo fred.stlouisfed.org This script uses net liquidity (NL) fair value calculation for SPX, then estimates entry and next target exit target for both long and short trades on SPY. The script added RSI oversold/overbought signal to the original NL signal from Max... improving the "precision" of the buy/sell signals. The script also uses RSI to estimate targets based on how overbought or oversold the index/SPY is.
Pine Script® indicator
by momentumX_capital
15
Zig Zag+ (Macro + Internal Structure Tool)ZigZag+ (Macro + Internal Structure Tool) ZigZag+ is a simple tool that helps traders to clearly identify and differentiate between macro and internal market structure, to help you keep your bearings of where you are currently in the overall picture. It is especially difficult to keep your bearings within the larger structural trend when trading the lower timeframes, where for example, a bearish structural trend on a lower timeframe may simply be a retracement of an overall bullish structural trend on a higher timeframe. This indicator primarily aims to help traders maintain awareness of where they are in relationship to the higher timeframe / 'macro' structural trend, and their most significant swing point highs and lows. The features of this indicator include: - 2x Zig Zag lines drawn automatically onto your chart. One which has a longer length than the other, which can be used to help identify and differentiate the larger price swings from the smaller price swings found within it. Enabled by default. - Customisable Zig Zag line color & width settings to help clearly differentiate the higher timeframe 'macro structure' apart from the lower timeframe 'internal structure' within it, enabling it to be tailored to suit your chart colour theme and personal preference. - Customisable individual length settings for the 2x Zig Zag lines, to allow the fine tuning of each line to any timeframe and asset. By default one lines length is set to a higher value than the other, to illustrate a macro structure (higher length value) as well as the 'internal structure' (lower value length), seen within the larger macro structure. - Up to a maximum of 500 lines can be drawn meaning you can zoom out considerably, and view historical price action with both Zig Zag lines continuing to print. - Custom alerts for identifying candlesticks that can offer optimal entries where they are found within valid price markups or markdowns that are already underway. Further details can be found within the tooltips for these signals. Note: The above list of features are accurate at the time of publishing, but may be updated or added to in future. Structure Understanding structure is arguably the foundation of all trading strategies, and therefore very important to understand where you are exactly in the bigger picture, since it can help identify levels at which there is a higher probability of price moving either upward or downward at a given point. Structural trend refers to the typical way that price tends to move in any given trending market, identified by the continuation of higher highs and higher lows in a typical bullish trending market, and lower highs and lower lows in a bearish trending market. During other times price may not be trending in this way, for example when it is undergoing accumulation or distribution phases, where the consistent higher high & lower low / lower high and lower low patterns will not be evident. What is Macro Structure? Macro trend structure refers to the structural trend seen on higher timeframe charts. What is Internal Structure? Internal trend structure refers to the structural trend seen on lower timeframe charts, which is found within the higher timeframe structure. Disclaimer: This indicator is adapted from an original script authored by Tr0sT . With special thanks.
Pine Script® indicator
by PHVNTOM_TRADER
7
Bearish Market Indicator V2Definition Have you ever wonder whether if the stock/index/market is "bearish" ? A Bearish Market Indicator (B.M.I) is not a new concept, the definition is simply 20% lower from the recent (term: short-term, recent: usually within a year, a.k.a 1 year) highs (closing price with in the recent period or within in a year or simply a 52-Week High). It is called “bearish” by definition when the closing price is below 20% from the highest price within the year (52-Week high: Green Line). To visualize the “20%” below the recent highs, there is a plot (line: light yellow color in the middle) called a Bearish Market By Definition Value. For example, the SPX 500 has been in a bearish market which is why there is a purple color highlight over the 52-Week High (green line) since September 21, 2022 because the closing price is below the Bearish Market By Definition Value (light yellow color) or “20% below the recent highs”. Finally, there is a red line under in the graph and it is the lowest price within a year. So when you hear, “this ticker is at a 52-Week Low”, you know what it means. Line Summary: Green Color Line = 52-Week High Yellow Color Line = 20% away from the 52-Week High or Bearish Market By Definition Value Red Color Line = 52-Week Low Color Summary: Red Color = Bad Saturated Red Color = Very Bad Purple Color = Bearish (It may look pink: red + purple) White Color = Less Bad (That’s because there is no certainty only probability) Green Color = Not too Bad (That’s because there is no certainty only probability) Now to more complicated Metrics >> If you do not like the technical indicators, go to the indicator settings, uncheck the tables. Otherwise, please continue reading. << Pre-requisites + Understand that the indicators are lagging indicators. + Using it under “D” or “Day” interval + Already Understand: Moving Averages, Stochastic-RSI, RSI, Super Trend and MACD. + Please be aware that this might not be compatible with traders! Indicators This B.M.I is fused (comprised, combined) with multiple indicators: - Moving Averages I would not rely just on the Moving Averages (MA) since it is a lagging indicator. The values are derived by finding the differences with respect to the MAs (between the closing price and with the respect MA). - Stochastic-RSI Stochastic and RSI combo with RSI-Color coating. The first value is the rsi-stochastic-k followed by the rsi-stochastic-d both are compartmentalized with “|”. Parameter: Numbers > 80 Not Good Numbers < 20 Is it time? (You can manually verify the lines (k, d) or the values from them) - Relative Strength Index (RSI) The first value is the rsi followed by the rsi-ma both are compartmentalized with “|”. It is also coated with RSI-color. Parameter: Numbers > 70 Overbought | Color Red If the RSI > RSI’s MA = Green If the RSI < RSI’s MA = Red Numbers < 30 Oversold | Color Red - Moving Averages Convergence Divergence (MACD) The first value is the MACD-line followed by the signal-line both are compartmentalized with “|”. Macd-line > signal line = green Macd-line < signal line = red - Supertrend (please look up from the documentation; i can not embed the link) Think of this way, you’re riding a wave. If the wave is climbing, expect the price to follow. Direction < 0 = Green Direction > 0 = Red - Other Trend similar to supertrend This is similar to the Super Trend according the some. Imagine you’re drawing a trend line manually within 6 months. Within the period, the line gets smoothed over and over til the n=9. > If the closing is less than the 9th value, it implies the trend is slowing down. Usage Adjustments + Since there are different holidays from different countries, you can change the BMI-Period from the indicator settings “BMI-4khansolo”. + You can hide Technical Indicator Tables, it is also under the settings (see above). > This will show red over the 52-Week high if it tests for positive . Purpose Do you like eating the same food over and over? No! I love different food! I also love a variety of indicators. Especially, I love having MULTIPLE indicators presented in one canvas at the same time (personalized). After spending a lot of time, I want to share my “FOOD” which is made of different ingredients (indicators) with someone who appreciates food! This Makes me a chef isn't it? Yes! Chef! Questions? If you have questions or spotted errors, please comment them below so that I can improve. Sources All the materials (i.e., functions like ta.rsi, etc...) used in here are available in the platform. All the references or sources materials are commented with the code since the I am not allowed to put them here.
Pine Script® indicator
by fourkhansolo
2
Ichimoku Breakout Kumo SWING TRADER (By Insert Cheese)A simple strategy for long spot or long futures (swing traders) based on a basic method of Ichimoku Kinko Hyo strategies. The strategy is simple: - Buy when the price breaks the cloud - Close the trade when the price closes again inside the cloud. The parameters that work best on this strategy are 10,30,60,30 and 1 for Senkou-Span A but you can try classic Ichimoku parameters (9,26,52,26,26) or whatever you want like (7,22,44,22,22), (10,30,60,30,30) and others. -1D chart I have removed everything from the interface except the cloud to make it visually more aesthetic :D (but if you want to see all the ichimoku indicator you can put in again into the chart) I have also added several functions for you to do your own backtesting: - Date range - TP AND SL method - Includes long or short trades The strategy starts with 500 $ and use 100% for trade to make the power of the compounding :P Remember that this is for only educational porpouse and you must to do your own research and backtested on your usually market.. I hope you like it enjoy and support this indicator :) Donate (BEP20) 0xC118f1ffB3ac40875C13B3823C182eA2Af344c6d
Pine Script® strategy
by InsertCheese
4
Faytterro Estimator StrategyWhat is "Faytterro Estimator Strategy"? "Faytterro Estimator Strategy" is strategy of faytterro estimator. if you want to know more about faytterro estimator: What it does? It trades according to the signals given by faytterro estimator and some additional restrictions. How it does it? Using the faytterro estimator and the following variables, it gives buy and sell signals in different sizes at ideal points. How to use it? The "source" part is used to change the source of faytterro estimator. The "length" is the length of the fayterro estimator. "Minimum entry-close gap" is the minimum distance between two transactions opened in opposite directions. For example, if you opened long at 20 500 and "Minimum entry-close gap" is 400, you will not receive a sell signal before the price goes above 20900. If "minimum entry-entry gap" is the minimum difference between two transactions opened in the same direction. For example, if you open long at 20500 level and the "minimum entry-entry gap" is 400, you will not receive a "buy" signal before the price goes below the 20100 level. "strong entry size" determines the size of strong signals. The size of ordinary signals is always 1. note: default values for btc/usdt 1 hour timeframe.
Pine Script® strategy
by faytterro
15
Delta Volume Channels [LucF]█  OVERVIEW This indicator displays on-chart visuals aimed at making the most of delta ​volume information. It can color bars and display two channels: one for delta ​volume, another calculated from the price levels of bars where delta ​volume divergences occur. Markers and alerts can also be configured using key conditions, and filtered in many different ways. The indicator caters to traders who prefer chart visuals over raw values. It will work on historical bars and in real time, using intrabar analysis to calculate delta ​volume in both conditions. █  CONCEPTS Delta Volume ​The ​volume delta concept divides a bar's ​volume in "up" and "down" ​volumes. The delta is calculated by subtracting down ​volume from up ​volume. Many calculation techniques exist to isolate up and down ​volume within a bar. The simplest techniques use the polarity of interbar price changes to assign their ​volume to up or down slots, e.g., On Balance Volume or the Klinger Oscillator . Others such as Chaikin Money Flow use assumptions based on a bar's OHLC values. The most precise calculation method uses tick data and assigns the ​volume of each tick to the up or down slot depending on whether the transaction occurs at the bid or ask price. While this technique is ideal, it requires huge amounts of data on historical bars, which usually limits the historical depth of charts and the number of symbols for which tick data is available. This indicator uses intrabar analysis to achieve a compromise between the simplest and most precise methods of calculating ​volume delta. In the context where historical tick data is not yet available on TradingView, intrabar analysis is the most precise technique to calculate ​volume delta on historical bars on our charts. TradingView's Volume Profile built-in indicators use it, as do the CVD - Cumulative ​Volume Delta Candles and CVD - Cumulative Volume Delta (Chart) indicators published from the TradingView account . My Volume Delta Columns Pro indicator also uses intrabar analysis. Other ​volume delta indicators such as my Realtime 5D Profile use realtime chart updates to achieve more precise ​volume delta calculations. Indicators of that type cannot be used on historical bars however; they only work in real time. This is the logic I use to assign intrabar ​volume to up or down slots:  • If the intrabar's open and close values are different, their relative position is used.  • If the intrabar's open and close values are the same, the difference between the intrabar's close and the previous intrabar's close is used.  • As a last resort, when there is no movement during an intrabar and it closes at the same price as the previous intrabar, the last known polarity is used. Once all intrabars making up a chart bar have been analyzed and the up or down property of each intrabar's ​volume determined, the up volumes are added and the down volumes subtracted. The resulting value is ​volume delta for that chart bar, which can be used as an estimate of the buying/selling pressure on an instrument. Delta ​Volume Percent (DV%) This value is the proportion that delta ​volume represents of the total intrabar ​volume in the chart bar. Note that on some symbols/timeframes, the total intrabar ​volume may differ from the chart's ​volume for a bar, but that will not affect our calculations since we use the total intrabar ​volume. Delta ​Volume Channel The ​​DV channel is the space between two moving averages: the reference line and a DV%-weighted version of that reference. The reference line is a moving average of a type, source and length which you select. The DV%-weighted line uses the same settings, but it averages the DV%-weighted price source. The weight applied to the source of the reference line is calculated from two values, which are multiplied: DV% and the relative size of the bar's ​volume in relation to previous bars. The effect of this is that DV% values on bars with higher total ​volume will carry greater weight than those with lesser ​volume. The ​DV channel can be in one of four states, each having its corresponding color:  • Bull (teal): The DV%-weighted line is above the reference line.  • Strong bull (lime): The bull condition is fulfilled and the bar's close is above the reference line and both the reference and the DV%-weighted lines are rising.  • Bear (maroon): The DV%-weighted line is below the reference line.  • Strong bear (pink): The bear condition is fulfilled and the bar's close is below the reference line and both the reference and the DV%-weighted lines are falling. Divergences In the context of this indicator, a divergence is any bar where the slope of the reference line does not match that of the DV%-weighted line. No directional bias is assigned to divergences when they occur. Divergence Channel The divergence channel is the space between two levels (by default, the bar's low and high ) saved when divergences occur. When price has breached a channel and a new divergence occurs, a new channel is created. Until that new channel is breached, bars where additional divergences occur will expand the channel's levels if the bar's price points are outside the channel. Prices breaches of the divergence channel will change its state. Divergence channels can be in one of five different states:  • Bull (teal): Price has breached the channel to the upside.  • Strong bull (lime): The bull condition is fulfilled and the ​DV channel is in the strong bull state.  • Bear (maroon): Price has breached the channel to the downside.  • Strong bear (pink): The bear condition is fulfilled and the ​DV channel is in the strong bear state.  • Neutral (gray): The channel has not been breached. █  HOW TO USE THE INDICATOR Load the indicator on an active chart (see here if you don't know how). The default configuration displays:  • The ​DV channel, without the reference or DV%-weighted lines.  • The Divergence channel, without its level lines.  • Bar colors using the state of the ​DV channel. The default settings use an Arnaud-Legoux moving average on the close and a length of 20 bars. The DV%-weighted version of it uses a combination of DV% and relative ​volume to calculate the ultimate weight applied to the reference. The DV%-weighted line is capped to 5 standard deviations of the reference. The lower timeframe used to access intrabars automatically adjusts to the chart's timeframe and achieves optimal balance between the number of intrabars inspected in each chart bar, and the number of chart bars covered by the script's calculations. The Divergence channel's levels are determined using the high and low of the bars where divergences occur. Breaches of the channel require a bar's low to move above the top of the channel, and the bar's high to move below the channel's bottom. No markers appear on the chart; if you want to create alerts from this script, you will need first to define the conditions that will trigger the markers, then create the alert, which will trigger on those same conditions. To learn more about how to use this indicator, you must understand the concepts it uses and the information it displays, which requires reading this description. There are no videos to explain it. █  FEATURES The script's inputs are divided in four sections: "DV channel", "Divergence channel", "Other Visuals" and "Marker/Alert Conditions". The first setting is the selection method used to determine the intrabar precision, i.e., how many lower timeframe bars (intrabars) are examined in each chart bar. The more intrabars you analyze, the more precise the calculation of DV% results will be, but the less chart coverage can be covered by the script's calculations. DV Channel Here, you control the visibility and colors of the reference line, its weighted version, and the DV channel between them. You also specify what type of moving average you want to use as a reference line, its source and length. This acts as the ​DV channel's baseline. The DV%-weighted line is also a moving average of the same type and length as the reference line, except that it will be calculated from the DV%-weighted source used in the reference line. By default, the DV%-weighted line is capped to five standard deviations of the reference line. You can change that value here. This section is also where you can disable the relative ​volume component of the weight. Divergence Channel This is where you control the appearance of the divergence channel and the key price values used in determining the channel's levels and breaching conditions. These choices have an impact on the behavior of the channel. More generous level prices like the default low and high selection will produce more conservative channels, as will the default choice for breach prices. In this section, you can also enable a mode where an attempt is made to estimate the channel's bias before price breaches the channel. When it is enabled, successive increases/decreases of the channel's top and bottom levels are counted as new divergences occur. When one count is greater than the other, a bull/bear bias is inferred from it. Other Visuals You specify here:  • The method used to color chart bars, if you choose to do so.  • The display of a mark appearing above or below bars when a divergence occurs.  • If you want raw values to appear in tooltips when you hover above chart bars. The default setting does not display them, which makes the script faster.  • If you want to display an information box which by default appears in the lower left of the chart.   It shows which lower timeframe is used for intrabars, and the average number of intrabars per chart bar. Marker/Alert Conditions Here, you specify the conditions that will trigger up or down markers. The trigger conditions can include a combination of state transitions of the ​DV and the divergence channels. The triggering conditions can be filtered using a variety of conditions. Configuring the marker conditions is necessary before creating an alert from this script, as the alert will use the marker conditions to trigger. Markers only appear on bar closes, so they will not repaint. Keep in mind, when looking at markers on historical bars, that they are positioned on the bar when it closes — NOT when it opens. Raw values The raw values calculated by this script can be inspected using a tooltip and the Data Window. The tooltip is visible when you hover over the top of chart bars. It will display on the last 500 bars of the chart, and shows the values of ​DV, DV%, the combined weight, and the intermediary values used to calculate them. █  INTERPRETATION The aim of the ​DV channel is to provide a visual representation of the buying/selling pressure calculated using delta ​volume. The simplest characteristic of the channel is its bull/bear state. One can then distinguish between its bull and strong bull states, as transitions from strong bull to bull states will generally happen when buyers are losing steam. While one should not infer a reversal from such transitions, they can be a good place to tighten stops. Only time will tell if a reversal will occur. One or more divergences will often occur before reversals. The nature of the divergence channel's design makes it particularly adept at identifying consolidation areas if its settings are kept on the conservative side. A gray divergence channel should usually be considered a no-trade zone. More adventurous traders can use the ​DV channel to orient their trade entries if they accept the risk of trading in a neutral divergence channel, which by definition will not have been breached by price. If your charts are already busy with other stuff you want to hold on to, you could consider using only the chart bar coloring component of this indicator: At its simplest, one way to use this indicator would be to look for overlaps of the strong bull/bear colors in both the ​DV channel and a divergence channel, as these identify points where price is breaching the divergence channel when buy/sell pressure is consistent with the direction of the breach. I have highlighted all those points in the chart below. Not all of them would have produced profitable trades, but nothing is perfect in the markets. Also, keep in mind that the circles identify the visual you would be looking for — not the trade's entry level. █  LIMITATIONS  • The script will not work on symbols where no ​volume is available. An error will appear when that is the case.  • Because a maximum of 100K intrabars can be analyzed by a script, a compromise is necessary between the number of intrabars analyzed per chart bar   and chart coverage. The more intrabars you analyze per chart bar, the less coverage you will obtain.   The setting of the "Intrabar precision" field in the "DV channel" section of the script's inputs   is where you control how the lower timeframe is calculated from the chart's timeframe. █  NOTES Volume Quality If you use ​volume, it's important to understand its nature and quality, as it varies with sectors and instruments. My Volume X-ray indicator is one way you can appraise the quality of an instrument's intraday ​volume. For Pine Script™ Coders  • This script uses the new overload of the fill() function which now makes it possible to do vertical gradients in Pine. I use it for both channels displayed by this script.  • I use the new arguments for plot() 's `display` parameter to control where the script plots some of its values,   namely those I only want to appear in the script's status line and in the Data Window.  • I wrote my script using the revised recommendations in the Style Guide from the Pine v5 User Manual. █  THANKS To PineCoders . I have used their lower_tf library in this script, to manage the calculation of the LTF and intrabar stats, and their Time library to convert a timeframe in seconds to a printable form for its display in the Information box. To TradingView's Pine Script™ team. Their innovations and improvements, big and small, constantly expand the boundaries of the language. What this script does would not have been possible just a few months back. And finally, thanks to all the users of my scripts who take the time to comment on my publications and suggest improvements. I do not reply to all but I do read your comments and do my best to implement your suggestions with the limited time that I have.
Pine Script® indicator
by LucF
51
position size for short selling-Roy LeeThis script enable you to dynamically calculate your position size or amount of shares you should use, based off your dollar risk level. The script is set up for short seller. e.g. if you would like to risk $100.00 what is the shares you should trade based off that. If you wanted to risk $100.00 and you enter current price at 2.00 and your stop lost is 1.90. the script will dynamically tell you the shares you should use if 1,000. There is other function like look back period where you could specify how many candles you wish the risk level to hold at that level. The script will be able to help in calculating the shares based on your current average shares of your current position. Example, based on the above you have short 500 shares at 1.90 risk 2.00, you maybe enter the average shares and current position, The script will help you calculate the amount of remaining shares you can trade netting of your initial trade. the above the trader has risked $50.00 so there is a remainder of $50.00. If the price is currently at 1.80 and risk off 2.00 the script will show 250 shares.
Pine Script® indicator
by snagy23
Diamonds✋ Experimental script where a diamond shape is created by making 4 lines around each bar which touches the edge of the bar. 𒀸 Example of how it works:       Create the left upper line:               A) Calculate middle of the bar        B) Calculate which one is highest -> close or open            'Draw' imaginary line from A to B (A starts 1 bar back)             Adjust height of A by adding 2/3 of the difference between A & B     𒓕 That's it! 𒀸 This technique can be developed further by anyone who's inspired.      •  For now, I've just added an option where you can extend 2 lines of 1 specific bar         𒓕 Settings ➺ extend lines ➺ toggle on/off ➺ type ➺ which bar back 𒀸 X bars back sets the max bars in history     •  Since this script uses line.new()   , this results in maximum 500 lines to be drawn.         Each Diamand Bar contains 4 lines, resulting in maximum 125 Diamond Bars . 𒀸 Standard Candles ~ Diamond Bars Cheers!
Pine Script® indicator
by fikira
11
Multiple Averages Moving - S&P 500This moving average script was created by "bren4013" & is only to be used on the Daily Chart for the S&P 500. Back tested from when the 21.5% crash started (All Time High) in August 1956, to its end (Bottom Is In) in October 1957, & to the present day. It's obvious where the signals are if you choose to take the time & look at it in detail. (Disclaimer) Trade at your own risk. Do not do what i do, or say. Trade safe. Trade smart. & remember; "Price moves indicators". "Indicators DO NOT move price". "Price will always exist without indicators". "Indicators CAN NOT exist without price". ENJOY...
Pine Script® indicator
by UnknownUnicorn20761272
1
MTF Fair Value Gap Indicator ULTRAFVG Fair Value Gap Indicator FVG's commonly known as Fair Value Gaps are mostly in use for forex trading, however it’s been widely used in price action trading, even on regular large cap stocks. Think of it as an imbalance area where the price of the stock may actually be under/over valued due to many orders being injected in a short amount of time, ie . a gap caused by an impulse created by the speed of the price movement. In essence, the FVG can become a kind of magnet drawing the price back to that level to attempt to balance out the orders (when? we don't know). Please do research to understand the concept of FVG's. You can look for an opportunity as price approaches the FVG for entry either long/short because after all, it is an "Area of Interest" so the price will either bounce or blow through the area. No indicator works 100% of the time so take in context as just another indicator. It tends work on larger time frames best. IMPORTANT TV RELATED LIMITATIONS: You should take the time to understand the following. A MAXIMUM of 500 boxes and labels are allowed, thus if you elect to display many different time frames of FVGs and/or select to not auto delete old Daily FVGs, the oldest FVGs will be deleted and not be seen. Additionally if you are on a smaller chart time frame (1 min), you may not see older FVGs such as Daily ones that occurred and still exist from long ago. This is due to TV limitation of 20,000 candles of history in each chart timeframe. Example: A 1 minute chart supports approximately 14 days worth of data so looking for Daily FVGs would only go back that far, whereas if your chart was set to 5 minutes you'd be able to see 5 times as many, ie . 60 days worth of Daily FVG's. Obviously setting your chart and looking for Daily FVG's would support up to 20,000 days worth. The Indicator Provides many different features: *Creation of FVG's for all hours or just during market hours. Currently you can enable FVG’s for the following timeframes: Current chart timeframe, 5Min, 10Min, 15Min, 1Hr, 4Hr, 8Hr, Daily, Weekly, Monthly. *Text label displays overlaying FVG bands including creation timestamps. * Bands reflecting FVG's in action (created/deleted) for the current chart time frame, 15min, 1hr, 4hr, 8hr and daily time frames. The FVG's will be overlayed on the chart if enabled. *Mitigation Action - Normal - When FVG is balanced out by price action, the FVG will disappear. Dynamic - The FVG band will decrease as the price movement eats into it thus only showing the remaining imbalance. None - For those that wish to retain FVG's even if they were mitigated. Half - FVG’s disappear when the price intrudes 50% of the overall FVG band zone. *Mitigation Type - The elimination or balancing of the FVG is caused by either the candle wick or body passing completely through the FVG. *Maximum FVGs - A maximum number of FVGs are created for each different enabled time frame (be aware setting a large number could impact system performance). *All FVG band colors can be customized by the user. * All FVG bands auto extend to the right. * Intrusion Alerts - Trading View alerts are supported. You can use the indicator settings to enable an alert if the price intrudes into the FVG zone by a certain percentage. This is not related to mitigation or removal of the FVG, just a warning that price has reached the area of interest.
Pine Script® indicator
by PapaAlan
157
Institutional Price LevelsInstitutional price levels (AKA round numbers, Perfect Price Levels-PPL) Institutional Price Levels (IPL) script shows the closest round numbers from the current price. Some traders uses round numbers as a support resistance levels. For example: 0.000 0.500 1.000 levels. Additional levels are 0.200 0.800. So I made a simple script that shows round numbers and the quarter levels(Not exactly quarter but minor levels) Quarter level option is planned on next update. Default range is 300 pips and you can extend until 500 pips range. Time range is extandable to the right and left side. You can just extend the line by increasing the bar numbers. Inputs: Show levels - Can show and hide all levels. Level colors are optional. Show quarter - Can show and hide minor levels which is 0.800 0.200 levels. Colors are optional Show more levels - Can show and hide more levels. Default range is 300 pips. Additional 200 pips range is optional. Extend right bars - Can set length of levels to the right side. Extend left bars - Can set length of levels to the left side. Thank you.
Pine Script® indicator
by Munkhtur
7
[FrizLabz] FVGFVG indicator -- Allows your Charts to stay CLEAN for your T.A. by plotting the FVGs on top of the Candles inside of its Borders FVGs can also be turned off and you can Remove the Bar Color only Each FVG has a tooltip that you can hover your mouse over to get the (Type of FVG, Size, Top, Middle, Bottom, Time) FVGs Using Plots so that they go all the way back in history you can have more than 500 on the chart Uses 4 Plots to achieve this 4 are used to prevent the fill() from carrying over to the next bar if there are 2 FVGs Can remove Bar Color - Theres no option to change Bar Color because it will cover up the FVG Hope you guys Enjoy,
Pine Script® indicator
by FFriZz
2
Daily/Weekly ExtremesBACKGROUND This indicator calculates the daily and weekly +-1 standard deviation of the S&P 500 based on 2 methodologies: 1. VIX - Using the market's expectation of forward volatility, one can calculate the daily expectation by dividing the VIX by the square root of 252 (the number of trading days in a year) - also know as the "rule of 16." Similarly, dividing by the square root of 50 will give you the weekly expected range based on the VIX. 2. ATR - We also provide expected weekly and daily ranges based on 5 day/week ATR. HOW TO USE - This indicator only has 1 option in the settings: choosing the ATR (default) or the VIX to plot the +-1 standard deviation range. - This indicator WILL ONLY display these ranges if you are looking at the SPX or ES futures. The ranges will not be displayed if you are looking at any other symbols - The boundaries displayed on the chart should not be used on their own as bounce/reject levels. They are simply to provide a frame of reference as to where price is trading with respect to the market's implied expectations. It can be used as an indicator to look for signs of reversals on the tape. - Daily and Weekly extremes are plotted on all time frames (even on lower time frames).
Pine Script® indicator
by Zeal_Trading
2nd 3rd 4th Order PivotsThis indicator calculates pivots of 2nd, 3rd and 4th order in the current timeframe. The idea is borrowed from the book "The Art and Science of Technical Trading" by Adam Grimes: "A pivot high is a bar that has a higher high than the bar that came before it and the bar that comes after it" "Second-order pivot highs are first-order pivot highs that are preceded and followed by lower first-order pivot highs. The type of picot calculation can be found as well in script "Higher Order Pivots" by rumpypumpydumpy. However, this script is different in the following ways: 1. Shows pivots of order 2, 3 and 4 2. The chart timeframe can be different than the pivot timeframe, allowing e.g. to map daily pivots to intraday charts via lines 3. Labels and/or lines can be used to show pivot points 4. Use of extended session data can be enabled/disabled, independently from the current chart settings 5. To disable older pivots, a starting time for the pivot calculation can be set Please consider following limitations: 1. Maximum of 500 drawing objects per chart. Use Notification option to keep track of when running out of chart objects. 2. Lookback history: The max lookback history is limited by the currently selected timeframe. E.g. on a 5min timeframe, 20000 bars (Premium Plan) result in approx. 5 months of lookback period, meaning you may want to verify with a 30 min or higher chart to get a complete picture of pivots.
Pine Script® indicator
by schroederjoa
19
Copy/Paste LevelsCopy/Paste Levels allows levels to be pasted onto your chart from a properly formatted source. This tool streamlines the process of adding lines to your chart, and sharing lines from your chart. More than one ticker at a time! This indicator will only draw lines on charts it has values for! This means you can input levels for every ticker you need all at once, one time, and only be displayed the levels for the current chart you are looking at. When you switch tickers, the levels for that ticker will display. (Assuming you have levels entered for that ticker) The formatting is as follows: Ticker,Color,Style,Width,Lvl1,Lvl2,Lvl3; Ticker - Any ticker on Tradingview can be used in the field Color - Available colors are: Red,Orange,Yellow,Green,Blue,Purple,White,Black,Gray Style - Available styles are: Solid,Dashed,Dotted Width - This can be any negative integer, ex.(-1,-2,-3,-4,-5) Lvls - These can be any positive number (decimals allowed) Semi-Colons separate sections, each section contains enough information to create at least 1 line. Each additional level added within the same section will have the same styling parameters as the other levels in the section. Example: 2 solid lines colored red with a thickness of 2 on QQQ, 1 at $300 and 1 at $400. QQQ,RED,SOLID,-2,300,400; IMPORTANT MUST READ!!! Remember to not include any spaces between commas and the entries in each field! ex. ; QQQ, red, dotted, -1, 325; <- Wrong ex. ;QQQ,red,dotted,-1,325;)<- Right However, All fields must be filled out, to use default values in the fields, insert a space between the commas. ex. ;QQQ,red,dotted,,325; <- Wrong ex. ;QQQ,red,dotted, ,325; <- Right While spaces can not be included line breaks can! I recommend for easier typing and viewing to include a line break for each new line (if changing styling or ticker) Example: 2 solid lines, one red at $300, one green at $400, both default width. Written in a single line AND using multiple lines, both give the same output. QQQ,red,solid, ,300;QQQ,green,solid, ,400; or QQQ,red,solid, ,300; QQQ,green,solid, ,400; In this following screenshot you can see more examples of different formatting variations. The textbox contains exactly what is pasted into the settings input box. As you can see, capitalization does not matter. Default Values: Color = optimal contrast color, If this field is filled in with a space it will display the optimal contrast color of the users background. Style = solid Width = -1 More Examples: Multi-Ticker: drawing 3 lines at $300, all default values, on 3 different tickers SPY, , , ,300;QQQ, , , ,300;AAPL, , , ,300 or SPY, , , ,300; QQQ, , , ,300; AAPL, , , ,300 Multiple levels: There is no limit* to the number of levels that can be included within 1 section. * only TV default line limit per indicator (500) This will be 4 lines all with the same styling at different values on 2 separate tickers. SPY,BLUE,SOLID,-2,100,200,300,400;QQQ,BLUE,SOLID,-2,100,200,300,400 or SPY,BLUE,SOLID,-2,100,200,300,400; QQQ,BLUE,SOLID,-2,100,200,300,400 Semi-colons must separate sections, but are not required at the beginning or end, it makes no difference if they are or are not added. SPY,BLUE,SOLID,-2,100,200,300,400; QQQ,BLUE,SOLID,-2,100,200,300,400 == SPY,BLUE,SOLID,-2,100,200,300,400; QQQ,BLUE,SOLID,-2,100,200,300,400; == ;SPY,BLUE,SOLID,-2,100,200,300,400; QQQ,BLUE,SOLID,-2,100,200,300,400; All the above output the same results. Hope this is helpful for people, Enjoy!
Pine Script® indicator
by SamRecio
17
Fourier Extrapolator of Variety RSI w/ Bollinger Bands [Loxx]Fourier Extrapolator of Variety RSI w/ Bollinger Bands is an RSI indicator that shows the original RSI, the Fourier Extrapolation of RSI in the past, and then the projection of the Fourier Extrapolated RSI for the future. This indicator has 8 different types of RSI including a new type of RSI called T3 RSI. The purpose of this indicator is to demonstrate the Fourier Extrapolation method used to model past data and to predict future price movements. This indicator will repaint. If you wish to use this for trading, then make sure to take a screenshot of the indicator when you enter the trade to save your analysis. This is the first of a series of forecasting indicators that can be used in trading. Due to how this indicator draws on the screen, you must choose values of npast and nfut that are equal to or less than 200. this is due to restrictions by TradingView and Pine Script in only allowing 500 lines on the screen at a time. Enjoy! What is Fourier Extrapolation? This indicator uses a multi-harmonic (or multi-tone) trigonometric model of a price series xi, i=1..n, is given by: xi = m + Sum( a*Cos(w*i) + b*Sin(w*i), h=1..H ) Where: xi - past price at i-th bar, total n past prices; m - bias; a and b - scaling coefficients of harmonics; w - frequency of a harmonic ; h - harmonic number; H - total number of fitted harmonics. Fitting this model means finding m, a, b, and w that make the modeled values to be close to real values. Finding the harmonic frequencies w is the most difficult part of fitting a trigonometric model. In the case of a Fourier series, these frequencies are set at 2*pi*h/n. But, the Fourier series extrapolation means simply repeating the n past prices into the future. This indicator uses the Quinn-Fernandes algorithm to find the harmonic frequencies. It fits harmonics of the trigonometric series one by one until the specified total number of harmonics H is reached. After fitting a new harmonic , the coded algorithm computes the residue between the updated model and the real values and fits a new harmonic to the residue. see here: A Fast Efficient Technique for the Estimation of Frequency , B. G. Quinn and J. M. Fernandes, Biometrika, Vol. 78, No. 3 (Sep., 1991), pp . 489-497 (9 pages) Published By: Oxford University Press The indicator has the following input parameters: src - input source npast - number of past bars, to which trigonometric series is fitted; Nfut - number of predicted future bars; nharm - total number of harmonics in model; frqtol - tolerance of frequency calculations. Included: Loxx's Expanded Source Types Loxx's Variety RSI Other indicators using this same method Fourier Extrapolator of Price w/ Projection Forecast Fourier Extrapolator of Price
Pine Script® indicator
by loxx
Donchian Channels+Standard Donchian Channels, this includes a Trend EMA which can be configured and the channels will use to give buy and sell signals. The channels are also colored in such a way to indicate a trend reversals. My favorite part that sets this apart from others is, if using the bClose option (which I recommend you do) the trend will not reverse until there is a close above/below the previous channel high/low. i.e. a reversal into an uptrend requires the current bar to close above the previous upper channel rather than just a new high. The coloring of the current trend allows for a quick read of current market conditions and I use this on any timeframe across all forms of charts (forex stock, futures , crypto, etc). When taking one of the signals I use the opposite channel as the stop loss (when buying use bottom, and selling use top channel) Update 1: - Added my name to the code - Updated the picture to show off the indicator better - Raised the brightness of the fill color a bit, looks nicer I think As a warning: I have obviously hand picked this picture to really show off this indicator's power to work in a trending market. Donchian Channels are a trending indicator and work best in trending markets with decent pull backs. If there are multiple signals going in each direction, it is a choppy market and you should stay out until it starts trending again. I generally use a 1:1.5 risk to reward ratio but sometimes will stretch it to 1:2 if it is a nice trade and I feel the market is in my favor as you can see from the trades placed in the picture (and I use that method for any commodity / chart and timeframe). I use the close of the white candle and then (since they are trades going short) I use the upper Donchian Channel as my stop loss. I personally like to have the lines and labels turned off and enable all other options. Labels are just there to really stand out so you don't miss the white candle indication for a trade. OH! Also, I've had comments from friends that the white candles are hard to see, I turn off my candle borders in settings; makes it super easy to see them then. I turn lines off as the fill does the job well enough and it seems cleaner in my eyes. If you'd like to see this picture on your chart, it is Micro E-Mini S&P 500 Futures from July 10, 2022 @ 18:00 on the 1-min chart. just now Update 2: - Added day trading time highlights - Added ranging market indicator (This I'm still working on so use at your own discretion, it's intended purpose is to tell when the Donchian Channels are not going to give great signals and to use a ranging indicator instead) - Added multi-timeframe trend screener (handy if you want to quickly see the trend direction (based on the Trend EMA you set) of several time frames without having to change charts). It will draw in the bottom right of the chart.
Pine Script® indicator
by theehoganator
2
TASC 2022.08 Trading The Fear Index█ OVERVIEW TASC's August 2022 edition of Traders' Tips includes an article by Markos Katsanos titled "Trading The Fear Index". This script implements a trading strategy called the “daily long/short trading system for ​volatility ETFs” presented in this article. █ CONCEPTS This long-term strategy aims to capitalize on stock market volatility by using exchange-traded funds (ETFs or ETNs) linked to the VIX index. The strategy rules (see below) are based on a combination of the movement of the ​Cboe VIX index, the readings of the stochastic oscillator applied to the SPY ​ETF relative to the ​​VIX, and a custom indicator presented in the article and called the correlation trend . Thus, they are not based on the price movement of the traded ​ETF itself, but rather on the movement of the ​VIX and of the S&P 500 index. This allows the strategy to capture most of the spikes in ​volatility while profiting from the long-term time decay of the traded ETFs. █ STRATEGY RULES Long rules Rising ​volatility: The ​VIX should rise by more than 50% in the last 6 days. Trend: The correlation trend of the ​VIX should be 0.8 or higher and also higher than yesterday's value. ​VIX-​SPY relative position: The 25-day and 10-day ​VIX ​stochastics should be above the 25-day and 10-day ​SPY ​stochastics respectively. In addition, the 10-day ​stochastic of the ​VIX should be above its yesterday's value. Long positions are closed if the 10-day ​stochastic of the ​SPY rises above the 10-day ​​stochastic of the ​VIX or falls below the yesterday's value. Short rules Declining ​volatility: The ​VIX should drop over 20% in the last 6 days and should be down during the last 3 days. ​VIX threshold: The ​VIX should spend less than 35% of time below 15. ​VIX-​SPY relative position: The 10-day ​VIX ​stochastic should be below the 10-day ​SPY ​stochastic. In addition, the 10-day ​SPY ​stochastic should be higher than the yesterday's value. Long positions are closed if the first two Long rules are triggered (Rising ​volatility and Trend). The script allows you to display the readings of the indicators used in the strategy rules in the form of oscillator time series (as in the preview chart) and/or in the form of a table.
Pine Script® strategy
by PineCodersTASC