Trendoscope

Trendoscope Wizard

There is a strong bias about chart patterns and their interpretation in the technical analysis space. It is a very common belief that a rising wedge forms bearish sentiment and a falling wedge forms bullish sentiment. Is that really true and how much we can rely on such bias? In order to understand this, we need to dig a little bit about how such concepts could...

19:08

Trendoscope Wizard

Hello Everyone, In this video, we discussed briefly about Different Reversal Chart Patterns Zigzag and Patterns Ecosystem of Libraries and Indicators developed in Pinescropt Recursive Reversal Chart Pattern Indicator Adding the snapshot for reference Link to the Indicator: Search for Zigzag and Pattern Ecosystem libraries and indicators in my...

18:59

Trendoscope Wizard Updated 

Hello Everyone, Following are the things we discussed 🎲 Minimal Components of Auto Trading System: Source where signals are generated Exchange/Broker where orders are placed Integration component which bridges both 🎲 In this example Source - is our tradingview system and a sample script which generate alerts. Do not use this script for trading...

Trendoscope Wizard

Pitchfork is drawn when price forms ABC pattern. Pitchfork draws a series of parallel lines in the direction of trend which can be used for support and resistance. There are many methods of drawing pitchfork. In all cases, a line joining B​C  will make the base of pitchfork and fork lines are drawn from different points of the base. All the fork lines will be...

14:57

Trendoscope Wizard Updated 

Hello Traders, In this video, I have demonstrated how to create a simple web-hook which can send your Tradingview alerts to Telegram channel or group for zero cost. ⬜ Tools Used ▶ Telegram Messenger ▶ Replit - Cloud platform for hosting small programs ▶ Postman - To test web-hooks before going live (Optional) ▶ Cronjob - To set health-check and keep...

13:17

Trendoscope Wizard

Hello Everyone, In this video we have discussed following things. Scatter plot and implementation in Pine using heat map representation on tables. Different quadrants and what it means. RSI use case implemented in the indicator - RSI Impact Heat Map How to use different settings and how to interpret the derived output. General belief is when RSI...

17:46

Trendoscope Wizard Updated 

Hello Everyone, In this video, we will try to go through revised implementation of Tradingview-Telegram-Bot which can be used to send alert messages from tradingview to telegram along with current chart snapshot. 🎲 Base Initial version of the same idea are as below: How-to-create-simple-web-hook-to-send-alerts-to-Telegram ...

Trendoscope Wizard Updated 

I saw a post in twitter which marked a particular converging triangle on BTCUSDT chart on 4H timeframe (As shown below) and implying more bearishness ahead. But, is it really correct analysis? Risk of drawing patterns manually is that we can fit any pattern to price action based on our bias. To overcome this, we need to follow a standard method to draw...

10:42

Trendoscope Wizard

Hello everyone, In this video, we explore how to draw trend lines in more subjective and algorithmic way. Problem with drawing trend lines manually are Subjective and may be influenced by personal factors Easy to fit on historical data based on our biases. Chances of overfitting to confirm our biases/ideas. We can avoid these drawbacks by using an...

Trendoscope Wizard Updated 

Been thinking of building an algorithm for Wyckoff distribution detection. But, for now, just expressing my thoughts via this idea. While zigzag can be basic building block, using modified channels may help further in avoiding fakeouts. In this example, we can also see that OBV and RSI has divergence. Let's see if this results in a fakeout or continue to...

Trendoscope Wizard

We do not need algorithms to spot the patterns when they are so clear. SeaPony bullish pattern already hit entry Falling wedge forming diagonal wave? Converging triangle ready for breakout.

18:31

Trendoscope Wizard

Hi All, Here is a short video on how to use Auto-Harmonic-Pattern-Backtester-Trendoscope for building strategies using harmonic patterns. CAUTION: THIS IS NOT A STRATEGY AND SHOULD NOT BE FOLLOWED BLINDLY. WE ENCOURAGE USERS TO UTILISE THIS AS BACKTESTING TOOL FOR BUILDING THEIR STRATEGY BASED ON HARMONIC PATTERNS Notes about Strategy Properties Qty...

Trendoscope Wizard

Harmonic Pattern as system is known for finding possible reversal zones and hence assist in swing trading. But, most effective way of using harmonic patterns is in trend following. This can yield really amazing results when played with proper risk management. Conditions In trending market Established trend followed by pattern Trade Settings ...

11:17

Trendoscope Wizard

Just made this short video to explain the concepts of Wolfe Strategy which I recently published. Wolfe wave is popular concept among option traders. However, I have made some tweaks in this strategy to standard wolfe pattern trade rules. Entry price based on breakout No moving target - using flat target. Entry is done based on risk reward Not time...

06:34

Trendoscope Wizard Updated 

Hello Everyone, In this video, I have tried explaining the relationship between win ratio and risk reward. 🎲 Two sides of the coin People often asked me if a strategy win rate is less than 50% then why do we need to follow it? And also we can see in social media - lots of people claiming 90%+ win ratio for their strategy. There is also another set of...

12:59

Trendoscope Wizard

Hello All, In this video - we discussed about what is repainting, different types of repainting, how we can identify them and some resources for programmers to avoid them programmatically. Here are some quick resources for programmers: www.tradingview.com Please let me if there are further questions

19:51

Trendoscope Wizard

Hello Everyone, Here is a video on detailed settings guide to invite only script - In this video, we discuss about: * Few important settings and how to use them * Few references to other tutorials for extended help Also please refer to linked ideas about: * How to customise alerts in Auto Harmonic scripts * How to use external filters Let me know if you...

20:00

Trendoscope Wizard Updated 

Hello All, I have made this video which covers briefly on following points for Auto-Chart-Patterns-Ultimate-Trendoscope 1. Indicator components 2. Detailed settings 3. Few key features 4. Info about trading different patterns included I could not cover alerts in the video due to time constraints. But, alerts is same as that of ...