Auto Linear Trend Target x16Experienced traders always tell us that “Never trade against the trend.” or “Trend is our friend.”. Yes sure, no one wants to trade against the trend. However, there are a lot of trends with different types and cycles, then which trend to follow, which trend they are mentioning? This tool (also known as ALTT x16, Laser Net x16) will support us in identifying different linear trends with different cycles. Nearest history-based targets are also added for our convenience of completeness.
Markets: All.
Timeframes: All. Recommendation: 30m and above.
Periods: Up to 16.
Usage: The higher period of a trend, the more strength it has. Enter when price breakouts a trend line and exit at the nearest trend line and target.
Boundary
RAS.V2 Strength Index OscillatorHeavily modified version of my previous "Relative Aggregate Strength Oscillator" -Added high/low lines, alma curves,, lrc bands, changed candle calculations + other small things. Replaces the standard RSI indicator with something a bit more insightful.
Credits to @wolneyyy - 'Mean Deviation Detector - Throw Out All Other Indicators ' And @algomojo - 'Responsive Coppock Curve'
And the default Relative Strength Index
The candles are the average of the MFI ,CCI ,MOM and RSI candles, they seemed similar enough in style to me so I created candles out of each and the took the sum of all the candle's OHLC values and divided by 4 to get an average, same as v1 but with some tweaks. Previous Peaks and Potholes visible with the blue horizontal lines which adjust when a new boundary is established. Toggle alma waves or smalrc curves or both to your liking. This indicator is great for calling out peaks and troughs in realtime, although is best when combined with other trusted indicators to get a consensus.
Lash Out OscillatorPurpose of this Script
The Lash Out Oscillator (LOO) is designed to indicate local tops and bottoms of the considered asset when the price considerably 'lashes out', based on normalized price deltas. It also features divergences that can be used for trading. The LOO is mainly used for Ethereum (ETH) and Bitcoin (BTC), but can in theory be used for every asset. Customization of the input settings is then needed to match the boundaries well to the historic price data. The default parameters are tuned for Ethereum.
Settings
Default input settings are tuned for Ethereum (ETH/USD) on Kraken on daily (D) timeframe.
Generally best used on daily (D) timeframe. You might also want to test the 4-hourly (4H) timeframe.
After applying the indicator to the chart, one typically has to zoom into the oscillator as the raw price delta is also plotted (in blue) which often overshadows the oscillator in magnitude.
For all other assets besides Ethereum, the oscillator and boundary values have (very likely) to be adjusted.
All individual pieces can be hidden from the chart (especially important as one might want to hide the blue raw price delta as it could disturb the process of tuning the oscillator due to automatic zoom-outs).
Input Settings for Bitcoin
Aside from Ethereum (default settings), I provide the following settings which can be used for Bitcoin (BNC:BLX) on daily (D) timeframe:
Averaging Length: 20
Donchian Length: 40
Donchian Scaling: 0.2
Fixed Red High: 6.1
Fixed Red Low: 2.3
Fixed Green High: -2.3
Fixed Green Low: -6.1
Still, feel free to tune the LOO to your liking.
Differences to Classic Oscillators as e.g. Relative Strength Index (RSI)
Classic oscillators as the RSI feature fixed limit values (e.g. 0 to 100 for the RSI) and are therefore (as the name says) very relative (you cannot reliably guess tops or bottoms just from the RSI value). The LOO features non-fixed limit values (they can theoretically go to infinity, but are in practice very well contained within some range), leading to less relativity and more absolute behaviour, which is beneficial in spotting local tops and bottoms. Just as the RSI, the LOO shows (bullish and bearish) divergences on the chart, which can be used for refined trading.
Interpretation
Given are two boundary types:
Fixed boundary areas
Donchian channels
Normally one should look out for the LOO to hit the red or green fixed boundary areas. Although the range is in theory infinite, the fixed areas give good hints when a local top could be hit, at least for the Ethereum case. For additional trades one can look for the LOO to hit the Donchian channels. Note that these areas/channels have to be adjusted by hand for all other assets besides Ethereum. General trading ideas are:
After the red (green) area is hit, a short- to mid-term (depends on market phase) short/hedge (long) trade might be in order.
During full bullruns (bearmarkets), the LOO can extend a bit more into the red (green) area. Here look out for bearish (bullish) divergences to possibly enter mid-term trades.
After the upper (lower) Donchian channel is hit, a short/hedge (long) trade could be wagered.
Alerts
Alerts are built-in that trigger when the LOO crosses into the red or green fixed boundary regions.
Access
For access to this indicator please contact me via DM on TradingView or on Twitter (linked on my TradingView profile and in my signature).
Previous Days High & LowRenders the high and low values from previous days.
Useful alert conditions are provided: "Less than low" and "Greater than high".
Configuration:
The number of days is configurable with a default of 1.
The source of the high and low values.
Use the close value instead of high and low values. Default is false.
The example above uses 2 days to demonstrate an exit strategy.
