Moving Average Cross Probability [AlgoAlpha]Moving Average Cross Probability 📈✨
The Moving Average Cross Probability by AlgoAlpha calculates the probability of a cross-over or cross-under between the fast and slow values of a user defined Moving Average type before it happens, allowing users to benefit by front running the market.
✨ Key Features:
📊 Probability Histogram: Displays the Probability of MA cross in the form of a histogram.
🔄 Data Table: Displays forecast information for quick analysis.
🎨 Customizable MAs: Choose from various moving averages and customize their length.
🚀 How to Use:
🛠 Add Indicator: Add the indicator to favorites, and customize the settings to suite your trading style.
📊 Analyze Market: Watch the indicator to look for trend shifts early or for trend continuations.
🔔 Set Alerts: Get notified of bullish/bearish points.
✨ How It Works:
The Moving Average Cross Probability Indicator by AlgoAlpha determines the probability by looking at a probable range of values that the price can take in the next bar and finds out what percentage of those possibilities result in the user defined moving average crossing each other. This is done by first using the HMA to predict what the next price value will be, a standard deviation based range is then calculated. The range is divided by the user defined resolution and is split into multiple levels, each of these levels represent a possible value for price in the next bar. These possible predicted values are used to calculate the possible MA values for both the fast and slow MAs that may occur in the next bar and are then compared to see how many of those possible MA results end up crossing each other.
Stay ahead of the market with the Moving Average Cross Probability Indicator AlgoAlpha! 📈💡
Trendfollower
Trend Strength Signals [AlgoAlpha]🌟Introducing the Trend and Strength Signals indicator by AlgoAlpha ! This tool is designed to help you identify trends and gauge market strength with precision and ease. 📈🚀
🛠 Customizable Parameters : Adjust the period, standard deviation multiplier, gauge size, and colors to fit your trading style.
📊 Trend Detection : Visualize trends with clear color-coded signals for uptrends and downtrends.
📈 Strength Gauge : Assess market strength with a dynamic gauge that adapts to the current price action.
🔔 Alerts : Set alerts for bullish and bearish trend crossovers and take profit points to stay ahead of the market.
🎨 Visual Enhancements : Enjoy a clutter-free chart with the integration of plot shapes, color fills, and gradient gauges.
🚀 Quick Guide to Using the Trend and Strength Signals Indicator
Maximize your trading with the Trend and Strength Signals indicator by following these streamlined steps! 🎯✨
🛠 Add the Indicator : Add the indicator to your favorites. Customize settings like period, standard deviation multiplier, and colors to fit your trading style.
📊 Market Analysis : Observe the color-coded candles and gauge to understand market trend direction and strength. Use the alerts for key trading signals.
🔔 Alerts : Enable notifications for trend crossovers and take profit points to catch trading opportunities without constantly monitoring the chart.
⚙️ How it works
This indicator calculates the moving average and standard deviation of the closing price over a customizable period to identify the upper and lower bounds. When the price crosses these bounds, it signals an uptrend or downtrend. The gauge measures market strength by comparing the price to the moving average and scaling it over a customizable range, while the underlying logic uses concepts from the Bollinger Bands, this indicator gives a unique perspective on price behavior through added features and signals derived from it.
Unleash the power of trend and strength analysis with this comprehensive indicator! Happy trading! 🚀📈✨
Volume Weighted Relative Strength Index (VWRSI) [AlgoAlpha]Volume Weighted Relative Strength Index 📈✨
The Volume Weighted Relative Strength Index (VWRSI) by AlgoAlpha enhances traditional RSI by incorporating volume weighting, providing a more nuanced view of market strength. It uses custom range detection to measure consolidation strength, applying dynamic scoring to highlight trend phases. The indicator includes customizable moving averages (SMA, EMA, WMA, VWMA) and color-coded visual cues for uptrends and downtrends. Additionally, it marks significant bullish and bearish trend points with symbols, making it easier to identify potential trading opportunities. This powerful tool helps traders make informed decisions by combining volume, price action, and trend analysis.
✨ Key Features :
📊 Volume-Weighted RSI : Combines RSI with volume for better accuracy.
🔄 Range Detection : Identifies consolidation phases.
🎨 Customizable MAs : Choose from various moving averages.
🔔 Alert Capabilities : Set notifications for trend points.
🚀 How to Use :
🛠 Add Indicator : Add the indicator to favorites, and customize the settings to suite your trading style.
📊 Analyze Market : Watch RSI and range score for trends.
🔔 Set Alerts : Get notified of bullish/bearish points.
✨ How It Works :
The Volume Weighted Relative Strength Index (VWRSI) combines traditional RSI with volume weighting to offer a more comprehensive view of market momentum. It calculates the RSI using the closing price, then weights it by volume to enhance the accuracy of the trend analysis. The indicator also includes a custom range detection feature that evaluates consolidation strength by dynamically scoring the RSI over a specified period. This scoring helps identify phases of strong trends and consolidations. Visual elements like color-coded trend fills and symbols for bullish and bearish points make it easier to spot key market movements and potential trading opportunities.
Stay ahead with VWRSI by AlgoAlpha! 📈💡
Donchian Trend Ranges [AlgoAlpha]🚀🔗 Donchian Trend Ranges 🔗🚀
Elevate your trading game with the Donchian Trend Ranges indicator from AlgoAlpha! 🌟📈 This advanced tool helps you visualize market trends and potential reversal points using Donchian channels, volatility measures, and average true range (ATR).
Key Features
⚙️ Customizable Parameters: Adjust the lookback period and range multiplier to fit your trading style.
🎨 Color-Coded Trends: Easily distinguish between uptrends and downtrends with customizable colors.
📊 Dynamic Channels: Visualize multiple dynamic channels based on Donchian ranges and volatility.
☁️ Trend Clouds: See market strength and weakness with upper and lower trend clouds.
🔔 Signal Alerts: Get notified of potential trend shifts and take profit points.
How to Use
🛠 Add the Indicator: Add the indicator to favorites. Customize settings such as the lookback period and range multiplier to match your trading needs.
🔍 Analyze Trends: The indicator calculates the highest and lowest prices over a specified period to create dynamic channels. It then uses standard deviation and ATR to adjust these channels for market volatility, plotting upper and lower ranges. Green bars indicate an up trend and red bars for a down trend.
🔔 Set Alerts: Enable notifications for bullish and bearish trend shifts, as well as weak and strong take profit points, ensuring you never miss an opportunity.
How it Works
The Donchian Trend Ranges indicator calculates the highest and lowest prices over a specified period to create a basis line. It creates a range around the basis based on standard deviations and the clouds' width is determined by a 14 period ATR. The basis line and bar colors changes based on whether the closing price is above or below it, indicating trends. Clouds around these lines represent market reversal zones that can be used as entry levels when used in confluence with momentum indicators, visual signals ("X" and "◆") marking strong and weak take profit points are also printed when the prices revert from the clouds towards the basis. Integrated alerts notify you of significant events like trend shifts and take profit signals, keeping you informed without constant monitoring.
Unleash the power of the Donchian Trend Ranges in your trading strategy! 🌐📈✨
Volume Delta [hapharmonic]Volume Delta: Volume Delta is an indicator that simplifies how you analyze trading volumes and the percentage of buy-sell activities effortlessly.
As a trader or market analyst, understanding underlying volume and trade flows is critical. The Volume Delta indicator provides thorough insight into both the total volume and the percentage of buying versus selling within the current candlestick. This information is pivotal for those looking to gauge market momentum and sentiment more effectively.
Additionally, the Volume Delta indicator can plot the candlestick colors based on the percentage of the dominant buying or selling volume. The area between the open and close prices of the candlestick is considered 100% and fills with colors corresponding to the predominant volume at that percentage.
Volume Delta also integrates the concept of Net volume. This component is crucial as it reveals the real market sentiment by calculating the difference between the volume of trades executed at an uptick and those at a downtick.
🟠 Overview
This indicator now displays in two layouts. Recently, Tradingview introduced the "force_overlay=true" function in Pine Script , allowing plots to be moved to the main chart. Thus, all displays are from the same indicator.
🟠 USAGE
From the data displayed in 'plot.style_columns' , the peak area represents the entire volume, accounting for 100%. Within this area, there are two color levels indicating volume. If one type of volume, whether buying or selling, exceeds the other, the larger volume will be positioned behind and the smaller in front. This arrangement prevents the scenario where a higher buying volume obscures the smaller selling volume. Therefore, the two colors can be switched between the front and the back as needed.
As you can see, the 12 and 26-day Exponential Moving Averages (EMAs) are used, with the Volume Confirmation Length set at 6. Therefore, the crossing of the EMAs proceeds normally, but it is highlighted with three triangular arrows to indicate a high likelihood of a valid crossover. However, if the volume is insufficient, these markers won't be displayed, although the EMA crossover will still occur as usual. This can be useful for using volume to verify the significance of the EMA crossover.
🟠 Setting
If you enable the label, please be aware that the chart size will shrink, causing the candlestick display to become unclear. Therefore, you might need to select "Logarithmic" at the bottom right of your screen, or for mobile applications, press and hold on the price scale and choose "Logarithmic" to adjust the scale appropriately.
Enjoy!
Candlestick Reversal and Trend Signals [AlgoAlpha]🚀 Unleash your charting capabilities with the Candlestick Reversal and Trend Signals indicator by AlgoAlpha, your go-to tool for spotting pivotal market movements! This script enhances your trading experience by identifying key candlestick patterns and trend changes, perfect for traders aiming for precision in their technical analysis.
🛠 Key Features:
- 🔄 Multi-Timeframe Analysis : Leverages a timeframe multiplier to analyze levels on higher timeframes, enhancing the depth and applicability of insights.
- 🧩 Diverse Pattern Detection : Capable of detecting a wide array of patterns including Bull/Bear Engulfings, Dojis, Haramis, Piercing Lines, Dark Cloud Covers, and Morning/Evening Stars, each contributing to a robust trading strategy.
- 🔍 Dynamic Trend Filters : Utilizes three exponential moving averages (EMAs) and volume filters to decisively confirm trend directions and strength, providing a clearer picture of market dynamics.
- ⚙️ Customizable Settings : Features adjustable settings for filter period, signal thresholds, and appearance, allowing for a tailored analysis experience to fit individual trading styles.
- 📉 Swing Levels Identification : Marks significant high and low swing points on the chart, highlighting potential pivot points and trend reversals for strategic trading decisions.
📈 Quick Guide to Using the Candlestick Reversal and Trend Signals Indicator
1. 🛠 Add the Indicator : Add the indicator to your favorites. Adjust the settings to match your analysis needs.
2. 📊 Analysis : Keep an eye out for the specific symbols plotted on your chart that indicate various candlestick patterns. Use these signals to enhance your market analysis.
3. 🔔 Set Alerts : Enable alerts for the patterns you are most interested in to get notified of potential trading opportunities without needing to monitor the charts constantly.
Embark on your enhanced trading journey with this powerful tool! 🚀✨ Happy trading!
🧐 How It Works:
The Candlestick Reversal and Trend Signals indicator operates by integrating several candlestick patterns and trend analysis features to assist in making informed trading decisions. Initially, it gathers user-defined settings like the period for filtering, signal thresholds, and the desired patterns to detect. It analyzes candlestick formations such as Bull/Bear Engulfings, Dojis, Haramis, and more, by comparing the current candlestick's attributes (such as body length and direction) with previous data to identify potential market reversals or confirmations. The indicator enhances its accuracy through additional filters like volume ratios and exponential moving averages (EMAs) that help validate the strength and direction of trends. By marking these patterns and trends visually on the chart, it provides clear signals that aid traders in identifying significant market movements efficiently. The script is then complemented with the 3 EMA indicator for trend detection and swing levels for added confluence.
Candlestick Trend Strength [AlgoAlpha]🚀🎉 Introducing the Candlestick Trend Strength by AlgoAlpha, a dynamic TradingView indicator designed to visually communicate the strength and direction of market trends right on your charts! 🕯️💪
Key Features:
🌈 Visual gauge for trend strength, color-coded for intuitive insights.
⏳ Customizable trend detection and normalization periods to match your trading strategy.
🎨 Flexible color settings for both uptrend (green) and downtrend (red).
🔔 Real-time alerts for trend reversals, helping you stay ahead of market moves.
How to Use:
🛠 Add the Indicator: Add the indicator to favorites and customize it to suit your needs.
🔍 Analyze the Trends: Monitor the color changes in the gauge and bar color to identify strengthening or weakening trends.
🔔 Set Alerts: Configure alerts to notify you of trend changes, allowing you to react swiftly to trading opportunities without constant monitoring.
Basic Logic Explained:
The "Candlestick Trend Strength" indicator calculates the trend strength score by analyzing the ratio of the candle's wick to its body, alongside the direction of the candle (up or down). It uses a normalization period to adjust the sum of the trend score into a scale from -1 to 1, which is then plotted as a color gradient gauge from red (downtrend) to green (uptrend) on the chart. This representation helps traders quickly assess whether a trend is gaining or losing strength, and it updates in real-time with each new bar, providing a highly responsive tool for technical analysis.
Embrace the power of visual trend analysis with the "Candlestick Trend Strength" by AlgoAlpha and transform your trading experience today! 🌟📈
Unmitigated Liquidity Imbalances [AlgoAlpha]🎉 Introducing the Unmitigated Liquidity Imbalance Indicator by AlgoAlpha! 🎉
Dive into the depths of market analytics with our "Unmitigated Liquidity Imbalance" indicator. This tool harnesses unique algorithms to detect liquidity imbalances between bulls and bears, helping traders spot trends and potential entry and exit points with greater accuracy. 📈🚀
🔍 Key Features:
🌟 Advanced Analysis : Analyses candle direction and length to forecast market peaks and valleys.
🎨 Customizable Visuals : Tailor the chart with your choice of bullish green or bearish red to reflect different market conditions.
🔄 Real-Time Updates : Continuously updates to reflect live market changes.
🔔 Configurable Alerts : Set up alerts for key trading signals such as bullish and bearish reversals, as well as trend shifts.
📐 How to Use:
🛠 Add the Indicator : Add the indicator to your favourites and customize the settings to suite your needs.
📊 Market Analysis : Monitor the oscillator threshold; readings above 0.5 suggest bullish sentiment, while below 0.5 indicate bearish conditions. And reversal signals are displayed to show potential entry points.
🔔 Set Alerts : Enable notifications for reversal conditions or trend changes to seize trading opportunities without constant chart watching.
🧠 How It Works:
The core mechanism of the indicator is based on detecting changes in candlestick size and direction to identify bullish and bearish liquidity levels from the peak & valley indicator's logic. By comparing the length of a current candle to the previous one and checking the change in direction, it pinpoints moments where market sentiment could be shifting, indicating if the liquidity at that point is bullish or bearish. The script then looks at what percentage of the past few unmitigated levels are bullish or bearish based on a customizable lookback and determines the liquidity imbalance which can then be interpreted as trend.
Empower your trading with the Unmitigated Liquidity Imbalance indicator and navigate the markets with confidence and precision. 🌟💹
Happy trading, and may your charts be ever in your favour! 🥳✨
💎 Related Indicator
Squeeze Momentum Oscillator [AlgoAlpha]🎉📈 Introducing the Squeeze Momentum Oscillator by AlgoAlpha 📉🎊
Unlock the secrets of market dynamics with our innovative Squeeze Momentum Oscillator! Crafted for those who seek to stay ahead in the fast-paced trading environment, this tool amalgamates critical market momentum and volatility indicators to offer a multifaceted view of potential market movements. Here's why it's an indispensable part of your trading toolkit:
Key Features:
🌈 Customizable Color Schemes: Easily distinguish between bullish (green) and bearish (red) momentum phases for intuitive analysis.
🔧 Extensive Input Settings: Tailor the oscillator lengths for both Underlying and Swing Momentum to match your unique trading approach.
📊 Dedicated Squeeze Settings: Leverage precise volatility insights to identify market squeeze scenarios, signaling potential breakouts or consolidations.
🔍 Advanced Divergence Detection: Utilize sophisticated algorithms to detect and visualize both bullish and bearish divergences, pointing towards possible market reversals.
📈 Hyper Squeeze Detection: Stay alert to high-momentum market movements with our hyper squeeze feature, designed to extremely suppressed market volatility.
🔔 Comprehensive Alert System: Never miss a trading opportunity with alerts for momentum changes, squeeze conditions, and more.
Quick Guide to Using the Squeeze Momentum Oscillator:
🛠 Add the Indicator: Add the indicator to your favourites. Adjust the oscillator and squeeze settings to suit your trading preferences.
📊 Market Analysis: Keep an eye on the squeeze value and momentum z-score for insights into volatility and market direction. Hyper Squeeze signals are your cue for high momentum trading opportunities.
🔔 Alerts: Configure alerts for shifts in underlying and swing momentum, as well as entry and exit points for squeeze conditions, to capture market moves efficiently.
How It Works:
The Squeeze Momentum Oscillator by AlgoAlpha synergistically combines the principles of momentum tracking and market squeeze detection. By integrating the core logic of the Squeeze & Release indicator, it calculates the Squeeze Value (SV) through a comparison of the Exponential Moving Average (EMA) of the Average True Range (ATR) against the high-low price EMA. This SV is further analyzed alongside its EMA to pinpoint squeeze conditions, indicative of potential market breakouts or consolidations. In addition to this, the oscillator employs Hyper Squeeze Detection for identifying extremely low volatility. The momentum aspect of the oscillator evaluates the price movement relative to EMAs of significant highs and lows, refining these observations with a z-score normalization for short-term momentum insights. Moreover, the incorporation of divergence detection aids in identifying potential reversals, making this oscillator a comprehensive tool for traders looking to harness the power of volatility and momentum in their market analysis. The combination of the Squeeze & Release and the Momentum Oscillator allows traders to time their trades with more precision by entering when the market is in a squeeze and front running the volatility of a major move.
Elevate your trading strategy with the Squeeze Momentum Oscillator by AlgoAlpha and gain a competitive edge in deciphering market dynamics! 🌟💼 Happy trading!
Alpha Edge Pro - Intraday [LevelUp]Alpha Edge Pro™ is a collection of tools for intraday analysis built in collaboration with Brian Shannon, CMT, creator of the anchored VWAP (AVWAP) and the author of two best-selling books on technical analysis.
🔹—— Key Features ——🔹
▪ AVWAP auto-anchored on 1-day, 2-day, week-to-date and month-to-date.
▪ AVWAP works with any global exchange, respecting trading days, hours & holidays.
▪ AVWAP and the TradingView Replay are excellent for historical analysis.
▪ 5-day moving average auto-calculated based on the chart timeframe.
▪ 5-day moving average auto-adjusts the minutes in the trading day for crypto and futures.
▪ View up to two daily moving averages on intraday charts.
▪ Pivot points (floor trader pivots) highlight support/resistance levels (R1/S1, R2/S2, etc).
▪ Highlight current and prior day highs/lows as these are areas of potential support and resistance.
▪ Comprehensive stats tables for AVWAP, price highs/low, pivots and ATR (average true range).
▪ Custom alerts for AVWAP, pivot points and 5-day moving average.
🔹—— AVWAP ——🔹
The Volume Weighted Average Price (VWAP) is the cumulative average price a stock traded for one day. AVWAP is the same as the VWAP with the exception that the start point (the anchor) is configurable based on a trader's preference, not simply the start of the trading day. From the anchor point forward, on each bar, AVWAP is calculated based on the cumulative volume and average price.
The AVWAP shows the relationship between price and volume over any time period based on the anchor point. At a glance we can see who is in control, the buyers (bulls) or the sellers (bears).
AVWAP Concepts
▪ When a stock is above an advancing AVWAP, buyers are in control for that timeframe, as the average price is increasing.
▪ When prices are below a declining AVWAP, sellers are in control for that timeframe, as the average price is declining.
▪ When prices oscillate above and below the AVWAP it indicates indecision for that timeframe.
What's unique about AVWAP in this indicator is that it is auto-anchored on 1-day, 2-day, week-to-date and month-to-date. In addition, Alpha Edge supports any exchange around the globe, respecting trading days, hours and holidays. You can also use the TradingView Replay feature with this indicator, a powerful tool for historical and post-mortem analysis.
▪ 1-Day, 2-Day and Week-To-Date
▪ Saudi Exchange (Tadāwul)
Trading Days: Sunday to Thursday, 10:00am to 3:00pm.
Auto-Anchor: Detects start of trading week.
▪ London Stock Exchange (LSE)
Trading days: Monday to Friday, 8:00am to 4:30pm.
Auto-Anchor: Detects U.K. bank holiday.
▪ Review Historical Data and Past Trades
🔹—— 5-Day Moving Average ——🔹
A common trend following theme is to look for stocks where the trend of the 50-SMA is upward. We can view intraday charts to see if the price action is setting up for a low risk trade by verifying that the shorter timeframe aligns with the longer. As we look at various timeframes, we need to make sure the moving average is consistent across the timeframes, which is done via the 5-day moving average as explained by Brian Shannon:
"If you want to see a five DAY moving average on a chart with 10 minute candles, you have to consider how many 10 minute periods of trading there are in the trading day. The US equities markets are open from 9:30- 4:00 each day, which is 6.5 hours per trading day. In each hour of trading, there are 6-10 minute periods, so during the regular session for equities, the market is open for 390 minutes or 39-10 minute periods per day. If we are to get a five day moving average, we would take the 39-10 minute periods the market is open each day and then multiply that by five days. 39 x 5 = 195. So a 5 DAY moving average is represented by a 195 PERIOD moving average when looking at a 10 minute timeframe."
As trend followers, our goal is to find stocks where the 5-day moving average is trending up.
In Alpha Edge, the default value for the minutes per day is 390, the number of minutes in one trading day in the U.S. This value can be changed to match any exchange. For example, if trading the India National Stock Exchange (NSE), which is open from 9:15am to 3:30pm, the minutes per day could be set to 375.
Minutes per day are auto-adjusted for crypto and futures:
▪ Crypto: 1440 minutes per day based on 24 hrs per day.
▪ Futures: 1380 minutes per day based on 23 hrs per day.
▪ 5-Day Moving Average Trending Up
Important Note: Based on the math as described above using the minutes in the trading day, there will be chart timeframes where the 5-day moving average is not shown. If you have the 5-day moving average enabled from within the indicator Settings, yet the 5-day line is not visible, try changing to another timeframe.
🔹—— Vertical Start Line - Anticipating Direction ——🔹
By placing a vertical line on the bar where the 5-day moving average begins, one can anticipate the trend by viewing the bars that will fall off the moving average as new bars are added. This can be helpful to gauge if the trend will continue in its current trajectory or begin to move in a different direction.
▪ 5-Day Vertical Line
🔹—— Intraday and Daily Moving Averages ——🔹
In addition to custom moving averages based on intraday price action, there are two configurable daily moving averages. Viewing daily moving averages on intraday charts can be helpful as they often act as areas of support/resistance.
▪ Daily 10-EMA on Intraday Chart - Acting as Support
▪ Daily 50-SMA on Intraday Chart - Acting as Resistance
🔹—— Current and Prior Day Highs & Lows ——🔹
Linda Raschke, a legendary trader featured in Jack Schwager’s book, New Market Wizards, on the importance of tracking the previous day's price range:
"If I could trade with only one indicator, it would be with the previous day’s high and low. The reason why they are so important is this is where support and resistance come in and they are also the most visible chart points for all market participants. They are very strong psychological markers.”
With Alpha Edge, there are clear visual indicators, with optional price data, marking both current and prior day high/low values. This makes it easy to view potential areas of support/resistance. These areas can also be considered for entering, exiting or profit taking.
▪ Prior Day & Current Day Highs/Lows
🔹—— Pivot Points ——🔹
Floor trader pivot points are price levels that may act as areas of support or resistance. These pivot points were initially created by floor traders operating within the trading pits of the equity futures exchange in Chicago, Illinois.
The calculations for determining these pivots are based on the prior day's high, low and close:
Pivot (P) = (prevHigh + prevLow + prevClose) / 3
Resistance R1 = (2 * P) - prevLow
Support S1 = (2 * P) - prevHigh
Resistance R2 = P + (prevHigh - prevLow)
Support S2 = P - (prevHigh - prevLow)
Resistance R3 = prevHigh + (2 * (pivot - prevLow))
Support S3 = prevLow - (2 * (prevHigh - pivot))
▪ R1 Acting as Resistance
▪ S1 Acting as Support
🔹—— Stats Table ——🔹
With the stats table, at a glance you can view AVWAP values, current and prior days highs/lows, pivot points as well as the ATR (average true range). Each section in the table can be toggled on/off.
▪ Stats Table
🔹—— Custom Alerts ——🔹
Alpha Edge indicator supports the following custom alerts:
▪ 1-day & 2-day AVWAP cross.
▪ WTD/MTD AVWAP cross.
▪ R1/R2 and S1/S2 cross.
▪ 5-day moving average cross.
🔹—— Best Practices ——🔹
▪ Look for confirmation of an uptrend on multiple timeframes.
▪ Use multiple signals and/or patterns for confirmation of the trend.
▪ Avoid chasing extended stocks.
▪ Always define risk before entering a trade — know where you’ll exit.
▪ Size positions based on volatility and conviction, not emotion.
▪ Be patient — trends take time to develop.
Paid script
Adaptive Schaff Trend Cycle (STC) [AlgoAlpha]Introducing the Adaptive Schaff Trend Cycle by AlgoAlpha: Elevate Your Trading Strategies 🚀
Discover precision and adaptability with the Adaptive Schaff Trend Cycle 🎯, meticulously crafted for traders seeking an edge in the markets. This advanced tool integrates sophisticated algorithms to offer clear insights and real-time analytics 📈.
Key Features:
⚙️Adaptive Signal Processing: Utilizes evolving calculations to adjust to market changes, offering highly responsive signals.
🔍Enhanced MACD Analysis: Innovates on the traditional MACD, providing new insights into market dynamics through an adaptive lens.
🎨Customizable Visual Experience: Features customizable up and down colors for tailored chart analysis.
🔔Real-Time Alerts: Stay informed with instant alerts on indicator changes.
Quick Guide to Using the Adaptive STC Indicator
1. 🔧 Adding the Indicator: Search for "Adaptive Schaff Trend Cycle (STC) " within TradingView's Indicators & Strategies and apply it to your chart. Customize the settings according to your trading style for optimum results.
2.👀 Market Analysis: Monitor the STC and Histogram values closely. The indicator's color gradients provide a visual representation of momentum shifts, helping you to identify trends more clearly.
3. 🚨 Set Alerts: Enable alerts for specific conditions like significant moves up or down, or when the histogram crosses zero. This feature ensures you never miss a potential trading opportunity.
How It Works:
The Adaptive Schaff Trend Cycle by AlgoAlpha introduces a dynamic approach to market analysis, refining traditional indicators through adaptive logic to align with fluctuating market conditions. Here's a concise overview of its operation:
🔄 Adaptive MACD Adjustment: The foundation of the indicator is an enhanced MACD calculation, which dynamically adjusts its parameters based on real-time market trends and momentum. This algorithmic adjustment aims to ensure the MACD's responsiveness to market changes, adapting its sensitivity to offer timely insights .
🌟 Integration of Schaff Trend Cycle (STC): After adjusting the MACD, the indicator calculates STC values to provide a smoothed representation of market trends. By normalizing and smoothing the MACD values on a scale from 0 to 100, the STC method helps in identifying market phases with a clear visualization. The smoothing process is designed to mitigate noise and focus on significant market movements .
📊 Visualization and Alerts: To aid in the interpretation of these insights, the Adaptive Schaff Trend Cycle employs color gradients and customizable visual settings to indicate momentum shifts. These visual cues, combined with alert functionalities, are structured to assist traders in monitoring market developments, enabling them to make informed decisions based on the presented data .
🛠️The Adaptive Schaff Trend Cycle thus merges adaptive MACD adjustments with STC methodology, supported by visual and alert features, to create a tool aimed at enhancing market analysis. By focusing on adaptability and current market conditions, it provides a nuanced view of market trends, intended to support traders in their decision-making processes without promising predictive accuracy or reliability .
Price Action Fractal Forecasts [AlgoAlpha]🔮 Price Action Fractal Forecasts - Unleash the Power of Historical Patterns! 🌌✨
Dive into the future with AlgoAlpha's Price Action Fractal Forecasts ! This innovative indicator utilizes the mesmerizing complexity of fractals to predict future price movements, offering traders a unique edge in the market. By analyzing historical price action and identifying repeating patterns, this tool forecasts future price trends, providing visually engaging and actionable insights.
Key Features:
🔄 Flexible Data Series Selection: Choose your preferred data series for precise analysis.
🕰 Flexible Training and Reference Data Windows: Customize the length of training data and reference periods to match your trading style.
📈 Custom Forecast Length: Adjust the forecast horizon to suit your strategic objectives.
🌈 Customizable Visual Elements: Tailor the colors of forecast deviation cones, data reference areas, and more for optimal chart readability.
🔄 Anticipatory and Repetitive Forecast Modes: Select between anticipating future trends or identifying repetitive patterns for forecasts.
🔎 Enhanced Similarity Search: Leverages correlation metrics to find the most similar historical data segments.
📊 Forecast Deviation Cone: Visualize potential price range deviations with adjustable multipliers.
🚀 Quick Guide to Maximizing Your Trading with Price Action Fractal Forecasts:
🛠 Add the Indicator: Search for "Price Action Fractal Forecasts" in TradingView's Indicators & Strategies. Customize settings according to your trading strategy.
📊 Strategic Forecasting: Monitor the forecast deviation cone and forecast directional changes for insights into potential future price movements.
🔔 Alerts for Swift Action: Set up notifications based on forecast changes to stay ahead of market movements without constant monitoring.
Behind the Magic: How It Works
The core of the Price Action Fractal Forecasts lies in its ability to compare current market behavior with historical data to unearth similar patterns. It first establishes a training data window to analyze historical prices. Within this window, it then defines a reference length to identify the most recent price action that will serve as the basis for comparison. The indicator searches through the historical data within the training window to find segments that closely match the recent price action in the reference period.
Depending on whether you choose the anticipatory or repetitive forecast mode, the indicator either looks ahead to predict future prices based on past outcomes following similar patterns or focuses on the repeating patterns within the reference period itself for forecasts. The forecast's direction can be configured to reflect the mean average of forecasted prices or the end-point relative to the start-point of the forecast, offering flexibility in how forecasts are interpreted.
To enhance the comprehensiveness and visualization, the indicator features a forecast deviation cone. This cone represents the potential range of price movements, providing a visual cue for volatility and uncertainty in the forecasted prices. The intensity of this cone can be adjusted to suit individual preferences, offering a visual guide to the level of risk and uncertainty associated with the forecasted price path.
Embrace the fractal magic of markets with AlgoAlpha's Price Action Fractal Forecasts and transform your trading today! 🌟🚀
Ichimoku OscillatorHello All,
This is Ichimoku Oscillator that creates different oscillator layers, calculates the trend and possible entry/exit levels by using Ichimoku Cloud features.
There are four layer:
First layer is the distance between closing price and cloud (min or max, depending on the main trend)
Second layer is the distance between Lagging and Cloud X bars ago (X: the displacement)
Third layer is the distance between Conversion and Base lines
Fourth layer is the distance between both Leadlines
If all layers are visible maning that positive according to the main trend, you can take long/short position and when main trend changed then you should close the position. so it doesn't mean you can take position when main trend changed, you need to wait for all other conditions met (all layers(
there is take profit partially option. if Conversion and base lines cross then you can take profit partially. Optionally you can take profit partially when EMA line crosses Fourth layer.
Optionally ATR (average true range) is used for Conversion and baseline for protection from whipsaws. you can use it to stay on the trend longer time.
I added options to enable/disable the alert and customize alert messages. You can change alert messages as you wish. if you use ' close ' in the alert message then you can get closing price in the alert message when the alert was triggered.
There is an option Bounce Off Support/Resistance , if there is trend and if the price bounce off Support/Resistance zone then a tiny triangle is shown.
There are many other options for coloring, alerts etc.
Some screenshots:
Main trend:
Taking/closing positions:
Example alert messages:
Bounce off:
Colors:
Colors:
Colors:
Non-colored background:
P.S. For a few months I haven't published any new script because of some health issues. hope to be healthy and create new scripts in 2024 :)
Enjoy!
Trend Alignment Pro [LevelUp]Trend Alignment Pro™ is designed for traders who focus on trading with the trend. This indicator automates key aspects of fundamental and technical analysis to identify and highlight chart patterns and signals, drawing on the proven techniques of legendary trend-following traders such as William O'Neil, Jesse Livermore, and Stan Weinstein.
The indicator name, Trend Alignment , emphasizes the importance of confirming price action, patterns, and signals across multiple timeframes. It provides both daily and weekly analysis to enable accurate and timely trend identification.
🔹—— Key Features ——🔹
Daily Timeframe
Moving Average Alignment™
▪ Highlight trends based on moving averages and price action.
▪ Specify price in relation to moving averages (e.g. close above).
▪ Specify which moving averages are required to be in an uptrend.
▪ Specify moving average stacking requirements (e.g. fast above slow).
▪ Require active Power Trend (optional).
▪ Set stop-loss and requirements to end Moving Average Alignment.
Power Trend Tools and Analysis
▪ Highlight Power Trends with box or symbols at start/end points.
▪ Auto-tracking of key metrics towards a new Power Trend.
Custom Moving Averages
▪ Specify type (EMA/SMA), length and color.
▪ View 10-week SMA on daily chart.
Stats Table
▪ Comprehensive daily price and percent change stats.
Signals Table
▪ Track important trend signals with clear visuals.
Power Earnings Gap (PEG) Detection
▪ Auto-detect and highlight Power Earnings Gaps.
▪ Customize requirements, such as gap-up percent and earnings surprise.
Weekly Timeframe
Custom Moving Averages
▪ Specify type (EMA/SMA), length and color.
Tight Weeks and Up Weeks
▪ Specify weekly and percent change requirements.
Stats Table
▪ Comprehensive weekly price and percent change stats.
Daily & Weekly Timeframes
Flat Base & Consolidation
▪ Automated detection with defaults based on the active timeframe.
Custom Relative Strength Line
▪ Specify index and lookback range.
▪ Symbols plotted on RS Line indicating new high and new high before price.
▪ Two custom moving averages for daily & weekly timeframes.
Anchored VWAP (AVWAP)
▪ Multiple anchor options: year-to-date, year-to-date low/high.
Pullbacks
▪ Set key requirements and minimum number of bars.
52-Week and All-Time Highs
▪ Bullish indicators indicating outperformance.
Marked Highs & Lows
▪ Identify potential areas of support/resistance.
🔹—— Daily Chart Examples ——🔹
Daily charts are ideal for analyzing short to intermediate term trends and spotting actionable setups as they develop.
🔹—— Weekly Chart Example ——🔹
Weekly charts are helpful for identifying longer-term trends and patterns.
🔹—— Moving Average Alignment (Daily) ——🔹
Moving Average Alignment™ (MAA) is a trend-identification tool that uses moving averages, price action and their relationships to one another to detect momentum and upward trends. MAA offers extensive customization, including the following:
▪ Moving average types (EMA/SMA) and length.
▪ Which moving averages are required to be in an uptrend.
▪ Requirements on the order of moving averages (e.g. fast above slow).
▪ Optional requirement that the stock be in a Power Trend.
▪ Set stop-loss and requirements to signal the end of the MAA.
MAA delivers clear visual confirmation of trend strength and helps identify both the start and potential end of an uptrend.
🔹—— Power Trend (Daily) ——🔹
The concept of a Power Trend was created by Mike Webster, Justin Nielsen and Charles Harris while working with William O’Neil, founder of Investor's Business Daily and creator of the CANSLIM methodology. When a Power Trend is active, there is a stronger than usual uptrend underway.
A Power Trend by definition uses a major index, such as the Nasdaq Composite (IXIC), as the data source for determining a Power Trend's state. The Trend Alignment indicator builds upon this concept by enabling the current chart symbol to be the data source for the Power Trend, thus offering traders a unique and quantifiable signal when a stock is in a strong uptrend.
What Starts A Power Trend
▪ Low is above the 21-EMA for at least 10 days.
▪ 21-EMA is above the 50-SMA for at least five days.
▪ 50-SMA is in an uptrend.
▪ Close up for the day.
What Ends A Power Trend
▪ 21-EMA crosses under 50-SMA and the close is below prior day close.
▪ Close below the 50-SMA and low is 10% below recent high.
One unique feature of the Trend Alignment indicator is that you can track the progress towards a new Power Trend beginning. See the chart below for more details.
🔹—— Power Earnings Gap (Daily) ——🔹
A Power Earnings Gap refers to a stock experiencing a significant price gap-up, on high volume, following an earnings report. This typically occurs when the stock opens at least 5-10% (or more) above the prior day's close, forming a gap-up bar on the chart that signals strong retail and/or institutional buying and the start or continuation of a major uptrend. It's a bullish pattern seen in leading growth stocks that often continue to outperform.
There are extensive customization options including required gap-up percent, minimum volume change over the average volume and preferred earnings surprise requirements.
🔹—— Relative Strength Line ▪ RS Line (Daily & Weekly) ——🔹
The Relative Strength Line (RS Line), another concept popularized by William O’Neil, is a technical indicator used in stock analysis to measure a stock's performance relative to a benchmark index, such as the S&P 500. An upward-trending RS Line indicates the stock is outperforming the market, while a downward trend shows underperformance. This helps identify potential leaders or laggards regardless of market conditions.
RS Line New High
When the RS Line reaches a new high, this signals that the stock's relative strength against the benchmark is at its highest point over the current lookback range — clear evidence of market leadership.
RS Line New High Before Price
When the RS Line hits a new high ahead of the stock's price reaching a new high, this can be a leading indicator of impending price strength, as it shows the stock gaining momentum relative to the market before that strength is reflected in its price. This signal shows early outperformance and potential market leadership, often preceding a breakout or trend continuation.
New High and New High Before Price Symbols
Easily spot RS Line new highs and new highs before price; a small circle on the RS Line indicates new highs and a small square highlights new high before price.
Highlight Breaks of Moving Averages
There are two custom moving averages of the RS Line that can be configured. Looking for breaks above or below these moving averages can be helpful to effectively manage positions, such as scaling out of a trade systematically.
🔹—— Tight Weeks and Up Weeks (Weekly) ——🔹
In William O'Neil's CANSLIM methodology, tight weekly closes and up weeks are key technical indicators used to evaluate stock chart patterns and identify potential buying opportunities. Tight and up weeks may indicate institutional accumulation and price strength.
Tight closes on a weekly timeframe refer to consecutive weeks where closing prices stay within a narrow 1-1.5% range of the prior week's close, often with declining volume. This signals buyer control and accumulation, making it a bullish indicator, particularly in patterns like three-weeks-tight after an initial breakout.
When a stock closes higher than the prior week, this signals positive momentum. Multiple up weeks often indicate sustained buying and may help to spotlight emerging leaders. Increased volume on up weeks show institutional support and increase the potential for a breakout.
🔹—— Automated Anchored VWAP ▪ AVWAP (Daily & Weekly) ——🔹
Based on the work of Brian Shannon, CMT, the anchored VWAP (AVWAP) shows the average price a stock has traded at, weighted by volume, starting from a specific point in time, the anchor. AVWAP can be helpful for trend confirmation and reversals, breakout and breakdown signals as well as risk management for placing stops.
The AVWAP works with any exchange around the globe, respecting trading days, hours and holidays. Use the AVWAP with the TradingView Replay feature for historical and post-mortem analysis.
🔹—— Marked Highs and Lows (Daily & Weekly) ——🔹
Pivot highs and pivot lows are core principles in technical analysis for identifying potential turning points, support/resistance, and trends. Shown on the chart as either price or a triangle symbol, these visual cues help to quickly spot significant price levels.
Pivots highlight historical turning points in price, serving as reliable zones for potential bounces or breakouts. They can also help determine overall market direction, for example, higher highs and higher lows in uptrends. Pivots also represent where demand overwhelms supply or vice versa.
🔹—— Price Stats and Signals Tables (Daily & Weekly) ——🔹
Comprehensive daily and weekly price stats. Daily charts also includes real-time signals to monitor the trend as well as quarterly earnings and sales data.
🔹—— Custom Alerts ——🔹
The Trend Alignment indicator supports custom alerts:
▪ Moving Average Alignment started.
▪ Moving Average Alignment ended.
▪ Power Trend started.
▪ Power Trend ended.
▪ Power Earnings Gap started.
🔹—— Best Practices ——🔹
▪ Look for confirmation of an uptrend on multiple timeframes.
▪ Use multiple signals and/or patterns for confirmation of the trend.
▪ Relative strength is key to find stocks outperforming the market.
▪ Focus on companies with earnings and sales acceleration.
▪ Avoid chasing extended stocks.
▪ Always define risk before entering a trade — know where you’ll exit.
▪ Size positions based on volatility and conviction, not emotion.
▪ Be patient — trends take time to develop.
Paid script
Moving Average Rainbow (Stormer)This strategy is based and shown by trader and investor Alexandre Wolwacz "Stormer".
Overview
The strategy uses 12 moving averages (default EMA) to identify trends and generate trading signals opening positions.
Allowing to select the type of moving average and length to be used.
The conditions includes relationship between moving averages, the position of the current price relative to the moving averages, and the occurrence of certain price patterns.
Calculation
The mean moving averages is calculated by adding all the 12 moving averages and dividing by 12, the value is used to help to identify trend and possible condition to open position.
The 12 moving averages is spliced by 3 ranges, initial range (moving average lines 1 to 4), middle range (moving average lines 5 to 8) and end range (moving average lines 9 to 12). These ranges helps to identify potential trend and market turn over.
The moving average touch price is a relationship between the low price (uptrend) or high price (downtrend) with the moving average lines, it identifies where the price (low/high) has reached the the moving average line. Fetching the value to help for opening position, set stop loss and take profit.
Since the stop loss is based and set from the previous moving average touch price value, when position is about to be open and setting the stop loss value, there is a verification to check both current and previous moving average touch price to recalculate the stop loss value.
The turnover trend checks for a possible market turnover event, setting up a new profit target, this setting when enabled is to be helpful when a turnover occurs against the position to exit position with some profit based on highest high price if long or lowest low price if short.
The turnover signal is similar to turnover trend. The difference is that when this setting is enabled and it triggers, it simply exit the current position and opens up a reverse position, long goes short and short goes long. And there is an complement optional that checks current price exit profitable.
Entry Position
Long Position:
Price is higher than the mean moving averages. Meaning possible uptrend.
The lines of the middle range from the moving averages are in increasing order. Meaning possible uptrend.
The current high pierced up previous high.
Fetch the previous value of the moving average touch price. Meaning the low price has touched one of the moving average lines, which that value is conditioning to open position.
Short Position:
Price is lower than the mean moving averages. Meaning possible downtrend.
The lines of the middle range from the moving averages are in decreasing order. Meaning possible downtrend.
The current low pierced down previous low.
Fetch the previous value of the moving average touch price. Meaning the high price has touched one of the moving average lines, which that value is conditioning to open position.
Risk Management
Stop Loss:
The stop loss is based from the previous moving average touch price value, high price for short and low price for long or occurs an verification to check for both current and previous moving average touch price value and a recalculation is done to set the stop loss.
Take Profit:
According to the author, the profit target should be at least 1:1.6 the risk, so to have the strategy mathematically positive.
The profit target is configured input, can be increased or decreased.
It calculates the take profit based on the price of the stop loss with the profit target input.
Turnover Trend
Long Position:
The moving averages initial range lines signals a possible market turnover. Meaning long might be going short.
Fetches the highest high hit since the opening of the position, setting that value to the new profit target.
Short Position:
The moving averages initial range lines signals a possible market turnover. Meaning short might be going long.
Fetches the lowest low hit since the opening of the position, setting that value to the new profit target.
Bollinger Bands Modified (Stormer)This strategy is based and shown by trader and investor Alexandre Wolwacz "Stormer".
Overview
The strategy uses two indicators Bollinger Bands and EMA (optional for EMA).
Calculates Bollinger Bands, EMA, highest high, and lowest low values based on the input parameters, evaluating the conditions to determine potential long and short entry signals.
The conditions include checks for crossovers and crossunders of the price with the upper and lower Bollinger Bands, as well as the position of the price relative to the EMA.
The script also incorporates the option to add an inside bar pattern check for additional information.
Entry Position
Long Position:
Price cross over the superior band of bollinger bands.
The EMA is used to add support for trend analysis, it is an optional input, when used, it checks if price is above EMA.
Short Position:
Price cross under the inferior band of bollinger bands.
The EMA is used to add support for trend analysis, it is an optional input, when used, it checks if price is under EMA.
Risk Management
Stop Loss:
The stop loss is calculated based on the input highest high (for short position) and lowest low (for long position).
It gets the length based on the input from the last candles to set which is the highest high and which is the lowest low.
Take Profit:
According to the author, the profit target should be at least 1:1.6 the risk, so to have the strategy mathematically positive.
The profit target is configured input, can be increased or decreased.
It calculates the take profit based on the price of the stop loss with the profit target input.
Trend Oscillatorwhat is "Trend Oscillator"?
it is an indicator for determining the trend.
what it does?
analyzes the price action by reducing it to 4 different situations. Red means strong bear, orange means bearish, yellow means weak bull and green means strong bull. It was developed to help traders who trade in the direction of the trend and its biggest promise is to simplify price action.
how it does it?
He defines 4 different situations as follows. If the velocity of the price is positive and the acceleration is positive, it is a strong bull, if the velocity is positive and the acceleration is negative, it is a weak bull, if the velocity is negative and the acceleration is positive, it is a weak bear, if both velocity and acceleration are negative, it is a strong bear.
2 for strong bull
1 for the weak bull
-1 for weak bear
Creates a function that takes values of -2 for the strong bear. this function is the velocity of the principal indicator, and then the integral of this function forms the principal indicator.
how to use it?
"source" is used to change the source of the indicator,
"length" makes the indicator give a later but less signal.
you can use it to follow or analyze the trend. colors make it easy to use. learns about current or past trends by looking at colors. Like any trend indicator, it can give unsuccessful signals in a horizontal trend.
TheBigBangTraders BreakoutName: TheBigBangTraders Breakout
Category: Trend Follower
Operating mode: Spot
Trades duration: Intraday
Timeframe: 1H
Suggested usage: the purpose of this strategy is to help to investigate if the asset is sensitive to breakout approach.
Entry: Trigger point can be choose by the user between:
High of the N days ago
High of the N weeks ago
Exit: End of Day
Usage:
⁃ It can be useful to use this script to test the behaviour of a definite asset
⁃ This is a raw system that can be considered a base to realize a complete breakout strategy
Configuration:
- N/A
Backtesting
⁃ Exchange: BINANCE
⁃ Pair: ETHUSDT
⁃ Timeframe: !H
⁃ Fee 0.075%
⁃ Slippage 0
- Start : 2020-01-03
How you or we can improve? Source code is open so share your ideas!
CryptoKillerCryptoKiller is a trend following trading system. It provides entry and exit points, a money management system and a trade management system.
The entry points (fuchsia line) are determined by CryptoKiller Oscillator (see other published script to understand how the oscillator works).
The trade management system provides the exit points in profit and in loss. This script works with multiple take profits (green lines), the initial position is liquidated little by little as the trend reaches the profit targets. Trade management also provides trailing stop exits to save the remaining profits.
Stop loss (red line) take into account the recent past of the chart to be determined, while take profits are fixed and have been calculated based on historical volatility.
The money management system is very simple, it plans to enter a position with a fixed percentage with respect to equity.
CryptoKiller, during an operation, also draws supports and resistances on the chart - determined by the oscillator (orange lines) these supports and resistances are used as a filter to understand where there is the greatest probability of trend development (some entry points provided by the oscillator will therefore not be considered by CryptoKiller as entry points, as in disagreement with the traced supports / resistances).
We know that an error appears in the backtest calculation, where the script is said to suffer from a bias, so the backtest calculation may not be accurate. Actually this happens in high times like H4 or daily, but CryptoKiller is not designed for these timeframes. it is a short-term strategy.
For more information read the author's instructions to contact us, we will send a PDF file with a more complete explanation of the strategy accompanied by screenshots.
Access to this script is granted along with access to CryptoKiller Oscillator.
The Trending Band IndicatorThis indicator shows the trend of the market. The middle line is the 200-day moving average because it shows the long term trend of the market. However, since the market does give fake signals of going up and down through the 200-day moving average, I had to put a band on it to push through the fake signals. The first band around the middle line is 1 standard deviation of historical volatility which gives an area of cushion to prevent fake signals. The goal is if the stock is above the first top band, then the stock is in an uptrend. If the stock is below the first bottom band, then the stock is in a downtrend. If it is the middle of the first bands, then the stock is known to be rangebound.
The top most and bottom most yellow lines are 4 standard deviations of historical volatility which give an idea of where the floor and ceiling are. This helps investors and traders identify good buy and sell zones using the yellow lines to see overbought and oversold sides.
This is a great indicator for people who need help following the trend of a stock, etf , etc.
Buy The Retrace backtest strategyA trend-following strategy entering pullbacks
Simple but efficient
Mostly used it on 1 min chart but it works extremely well on 5 min as well.
The components of the strategy:
-MTF ATR based Trend
-Fib based cloud to help determine the trend - Caution when trend and cloud shows a different trend - a reversal may be possible.
-Optional values for the signals -how often you would like to get one- can be changed based on - the current close relative to the close-only high-low range over a given period of time.
-3x take profit levels
- all adjustable in %
- take profit quantities adjustable in % for each level
-paints a line where your average position is
-labels the current position size
Be careful where the cloud is broken, a reversal may happen.
Be careful longing / shorting the same levels which acted as a support/resistance before - this is why the win ratio is around 80% only as a small percentage gets stopped out usually.
Would like to get access? Pm me I'll grant it.
EMA Slope Cross Trend Follower StrategyThis strategy uses the cross of the slopes of two EMAs having different lengths to generate trend follower signals. By default, I use 130 and 400, which behave very well.
The conditions which make the strat enter the market are:
- Fast Slope > Slow Slope and price > EMA 200 : go Long
- Fast Slope < Slow Slope and price < EMA200 : go Short
The simple slopes cross in the opposite direction, closes the position.
The strategy performs best on Bitcoin and the most liquid and capitalized Altcoins, but works greatly on volatile assets as well, in particular if they often go trending.
Works best on 4h time frame.
There's also an optional Volatility filter, which opens the position only if the difference between the two slopes is more than a specific value, which can be set in the strategy inputs. The purpose is not opening positions if price is going sideways and the noise is way > than the signal.
Enjoy it!
Xtreme TrendDisclaimer: This base Script is derived and tweaked from Half Trend. But unlike halftrend, it doesn't repaint and signals come at different logic.
Background:
I was using this script and trading with this for a while. Few weeks back I had come across a similar Script being sold as premium in Tradingview for $100 per month. The seller has a lots of videos in youtube and claims that he has created this script by investing lakhs and it also takes consideration of price action !!! . No doubt he is a successful trader but if you watch his other videos you will realize that he trades with S/R, trendlines and price action. He speaks quite well, and the morphed videos give impressions that all his profits are from using this indicator. I fell for it, but then after using for a few days I had realized that both the indicators are almost same, but giving signals at different time. When I edited my indicator for a few settings, it appeared that now signals are also coming exactly at same point. I never wanted to publish this script, but this person was going on and on fooling people. So, I have decided to publish it here, as a protected code. Again this is no holy grail. Works well in trending market and hell in sideways.
How to Use:
PLEASE WAIT TILL CANDLE CLOSE, take entry in the beginning of next candle. Time frame: 5 mins for index, 15 mins - 30 mins for stocks
Add 200 EMA over it ( Personally I love using 50 MA) and buy when signal and price both are on same side. Example, buy when there is buy signal + price is above 200 EMA
Sell: When price is below 200 EMA and there is a sell signal on the indicator.
Seems better when you mix it with pivots, S/R etc.
please comment, if you find this useful.
