Get started

Centered Oscillators

Structure AnalyzerA momentum indicator that uses the highest and lowest values for price in three different lookback lengths to find the performance relative to three timeframes. - The yellow line is the product of the price performance in three different timeframes. - The red line is 200 EMA of the performance. - The blue columns represent the same calculation or the volume(OBV based). - The aqua line is the 200 EMA of the volume performance. How to use: Whenever the performance crosses above the 200 EMA, the price is in an uptrend. Important: When in a downtrend, the performance will stay below the 200 EMA for a long time; hence it is important o wait until the crossover.
Pine Script™ indicator
by ekrem6nel
1
RedK Trader Pressure Index (TPX v1.0) Quick Summary --------------------- The RedK Trader Pressure Index (REDK_TPX) analyzes the changes in price bars to give the trader a clear visual insight that represents the ongoing fight between the bulls (buyers) and bears (sellers) in the market - to determine who is in control of the price action, which in turn can be helpful in a trader’s decision about how the price action may be unfolding, what type of trade and positions to take (or to close) and when is the ideal time to action. How the TPX calculation works --------------------------------------- The TPX uses a simple logic and that’s one of the things I like about it – there is no complex calculation or magic stuff - and the core idea makes sense to me, as well as being one of the ways I needed to analyze my price charts. The underlying assumption is that the buyers and sellers are competing for control of the market at all time. - if there’s more buyers than sellers in the market, and if the buyers’ (or bull) pressure is stronger (than the sellers’), they will be able pull the “price range” up – and that means that on the price chart we can expect to see an increase in value in both the “high” and the “low” of the next price bar. - Similarly, if there’s more sellers than buyers in the market, and if the sellers’ (or bear) pressure is stronger (than the buyers’), they will be able push the “price range” down – on the price chart we can expect to see a decrease in value in both the “high” and the “low” of the next price bar. So, we will use the change in high and low price, between 2 consecutive price bars, as a proxy for the bull and bear “pressures” – a (weighted) moving average of these “pressure” values are then calculated along with the “Net Pressure” – the final results are plotted. The importance of the "Control Level" ----------------------------------------------- As in similar price-action based indicators, there’s a certain threshold or “control level”, above which, the pressure becomes “dominant” when the bull or bear pressure is above that threshold, they will dominate and control the price move – this level can be found around the 25 or 30. I have included the ability to plot and adjust that control level in the TPX’s settings – and I also show some examples in the chart above (weekly chart for MSFT) The code is commented and the chart is annotated to explain how to “read” the TPX – and how to interpret the values on the price chart Using the Trader Pressure Index (TPX) in trading ------------------------------------------------------------ TPX can be valuable in showing well-supported (up or down) price moves that may lead to a strong trend that we can ride (when the pressure value is above the control level) - see exampled above TPX is also valuable in showing when there’s “lack of interest” from the buyers or the sellers (or both) – which is great in exploring chub or no-trade zones - so basically when to avoid trading. As usual, it's always recommended to use these types of "price action insight" indicators in conjunction with other trend and momentum indicators (moving averages, MACD..etc), so the insight we gain from them can be properly placed within the broader "context" - and to receive additional confimtion signals to support the trading decision. I will come back later to post something about how the TPX differs from my recently-posted Strength of Movement (SoM) because they wok completely differently but can be used together with great synergy – and also how the TPX compares to the classic DMI/ADX which uses a similar concept. Please feel free to integrate in your trading – hope you find this useful - comments and feedback are always welcome
Editors' picks
Pine Script™ indicator
by RedKTrader
119
CT Reverse True Strength Indicator On ChartIntroducing the Caretakers “On Chart” Reverse True Strength Index. According to Wikipedia…. “The True Strength Index (TSI) is a technical indicator used in the analysis of financial markets that attempts to show both trend direction and overbought/oversold conditions. It was first published William Blau in 1991. The indicator uses moving averages of the underlying momentum of a financial instrument. Momentum is considered a leading indicator of price movements, and a moving average characteristically lags behind price. The TSI combines these characteristics to create an indication of price and direction more in sync with market turns than either momentum or moving average.” The TSI has a normal range of values between +100 and -100. Traditionally traders and analysts will consider: Positives values above 25 to indicate an “overbought” condition Negative values below -25 to indicate an “oversold” condition I have reverse engineered the True Strength Index formula to derive 2 new functions. 1) The reverse TSI function is dual purpose which can be used to calculate…. The chart price at which the TSI will reach a particular TSI scale value. The chart price at which the TSI will equal its previous value. 2) The reverse TSI signal cross function can be used to calculate the chart price at which the TSI will cross its signal line. I have employed these functions here to return the price levels where the True Strength Index would equal : Upper alert level ( default 25 ) Zero-Line Lower alert level ( default -25 ) Previous TSI (eq) value TSI signal line In this “On Chart” version of the reverse True Strength Index the crossover levels are displayed both as lines on the chart and via an optional info-box with choice of user selected info. Chart Line Colors Upper alert level... ( Fuchsia ) Zero-Line............ ( White ) Lower alert level... ( Aqua ) TSI (eq)...............( TSI (eq) > close..Orange, TSI (eq) < close..Lime ) TSI signal line........( Signal Cross Line > Close..Aqua, Signal Cross Line < Close..Fuchsia ) How to interpret the displayed prices returned from the TSI scale zero line and upper and lower alert levels. Closing exactly at the given price will cause the True Strength Index value to equal the scale value. Closing above the given price will cause the True Strength Index to cross above the scale value. Closing below the given price will cause the True Strength Index to cross below the scale value. How to interpret the displayed price returned from the TSI (eq) Closing exactly at the price will cause the True Strength Index value to equal the previous TSI value. Closing above the price will cause the True Strength Index value to increase. Closing below the price will cause the True Strength Index value to decrease. How to interpret the displayed price returned from the TSI signal line crossover. Closing exactly at the given price will cause the True Strength Index value to equal the signal line. Closing above the given price will cause the True Strength Index to cross above the signal line. Closing below the given price will cause the True Strength Index to cross below the signal line. Common methods to derive signals from the TSI : Zero-line crossovers When the CMO crosses above the zero-line, a buy signal is generated. When the CMO crosses below the zero-line, a sell signal is generated. “Overbought” and “Oversold” crossovers When the SMI crosses below -25 and then moves back above it, a buy signal is generated. When the SMI crosses above +25 and then moves back below it, a sell signal is generated. What Does the True Strength Index (TSI) Tell You? The indicator is primarily used to identify overbought and oversold conditions in an asset's price, spot divergence, identify trend direction and changes via the zero-line, and highlight short-term price momentum with signal line crossovers. Since the TSI is based on price movements, oversold and overbought levels will vary by the asset being traded. Some stocks may reach +30 and -30 before tending to see price reversals, while another stock may reverse near +20 and -20. Mark extreme TSI levels, on the asset being traded, to see where overbought and oversold is. Being oversold doesn't necessarily mean it is time to buy, and when an asset is overbought it doesn't necessarily mean it is time to sell. Traders will typically watch for other signals to trigger a trade decision. For example, they may wait for the price or TSI to start dropping before selling in overbought territory. Alternatively, they may wait for a signal line crossover. Signal Line Crossovers The true strength index has a signal line, which is usually a seven- to 13-period EMA of the TSI line. A signal line crossover occurs when the TSI line crosses the signal line. When the TSI crosses above the signal line from below, that may warrant a long position. When the TSI crosses below the signal line from above, that may warrant selling or short selling. Signal line crossovers occur frequently, so should be utilized only in conjunction with other signals from the TSI. For example, buy signals may be favoured when the TSI is above the zero-line. Or sell signals may be favoured when the TSI is in overbought territory. Zero-line Crossovers The zero-line crossover is another signal the TSI generates. Price momentum is positive when the indicator is above zero and negative when it is below zero. Some traders use the zero-line for a directional bias. For example, a trader may decide only to enter a long position if the indicator is above its zero-line. Conversely, the trader would be bearish and only consider short positions if the indicator's value is below zero. Breakouts and Divergence Traders can use support and resistance levels created by the true strength index to identify breakouts and price momentum shifts. For instance, if the indicator breaks below a trendline, the price may see continued selling. Divergence is another tool the TSI provides. If the price of an asset is moving higher, while the TSI is dropping, that is called bearish divergence and could result in a downside price move. If the TSI is rising while the price is falling, that could signal higher prices to come. This is called bullish divergence. Divergence is a poor timing signal, so it should only be used in conjunction with other signals generated by the TSI or other technical indicators. The Difference Between the True Strength Index (TSI) and the Moving Average Convergence Divergence (MACD) Indicator. The TSI is smoothing price changes to create a technical oscillator. The moving average convergence divergence (MACD) indicator is measuring the separation between two moving averages. Both indicators are used in similar ways for trading purposes, yet they are not calculated the same and will provide different signals at different times. The Limitations of Using the True Strength Index (TSI) Many of the signals provided by the TSI will be false signals. That means the price action will be different than expected following a trade signal. For example, during an uptrend, the TSI may cross below the zero-line several times, but then the price proceeds higher even though the TSI indicates momentum has shifted down. Signal line crossovers also occur so frequently that they may not provide a lot of trading benefit. Such signals need to be heavily filtered based on other elements of the indicator or through other forms of analysis. The TSI will also sometimes change direction without price changing direction, resulting in trade signals that look good on the TSI but continue to lose money based on price. Divergence also tends to unreliable on the indicator. Divergence can last so long that it provides little insight into when a reversal will actually occur. Also, divergence isn't always present when price reversals actually do occur. The TSI should only be used in conjunction with other forms of analysis, such as price action analysis and other technical indicators. This is not financial advice, use at your own risk.
Pine Script™ indicator
by The_Caretaker
1
CT Reverse True Strength IndicatorIntroducing the Caretakers Reverse True Strength Index. According to Wikipedia…. “The True Strength Index (TSI) is a technical indicator used in the analysis of financial markets that attempts to show both trend direction and overbought/oversold conditions. It was first published William Blau in 1991. The indicator uses moving averages of the underlying momentum of a financial instrument. Momentum is considered a leading indicator of price movements, and a moving average characteristically lags behind price. The TSI combines these characteristics to create an indication of price and direction more in sync with market turns than either momentum or moving average.” The TSI has a normal range of values between +100 and -100. Traditionally traders and analysts will consider: Positives values above 25 to indicate an “overbought” condition Negative values below -25 to indicate an “oversold” condition I have reverse engineered the True Strength Index formula to derive 2 new functions. The reverse TSI function is dual purpose which can be used to calculate…. The chart price at which the TSI will reach a particular TSI scale value. The chart price at which the TSI will equal its previous value. The reverse TSI signal cross function can be used to calculate the chart price at which the TSI will cross its signal line. I have employed these functions here to return the price levels where the True Strength Index would equal : Upper alert level ( default 25 ) Zero-Line Lower alert level ( default -25 ) Previous TSI (eq) value. TSI signal line These crossover levels are displayed via an optional info-box with choice of user selected info. How to interpret the displayed prices returned from the TSI scale zero line and upper and lower alert levels. Closing exactly at the given price will cause the True Strength Index value to equal the scale value. Closing above the given price will cause the True Strength Index to cross above the scale value. Closing below the given price will cause the True Strength Index to cross below the scale value. How to interpret the displayed price returned from the TSI (eq) Closing exactly at the price will cause the True Strength Index value to equal the previous TSI value. Closing above the price will cause the True Strength Index value to increase. Closing below the price will cause the True Strength Index value to decrease. How to interpret the displayed price returned from the TSI signal line crossover. Closing exactly at the given price will cause the True Strength Index value to equal the signal line. Closing above the given price will cause the True Strength Index to cross above the signal line. Closing below the given price will cause the True Strength Index to cross below the signal line. Common methods to derive signals from the TSI : Zero-line crossovers When the CMO crosses above the zero-line, a buy signal is generated. When the CMO crosses below the zero-line, a sell signal is generated. “Overbought” and “Oversold” crossover When the SMI crosses below -25 and then moves back above it, a buy signal is generated. When the SMI crosses above +25 and then moves back below it, a sell signal is generated. What Does the True Strength Index (TSI) Tell You? The indicator is primarily used to identify overbought and oversold conditions in an asset's price, spot divergence, identify trend direction and changes via the zero-line, and highlight short-term price momentum with signal line crossovers. Since the TSI is based on price movements, oversold and overbought levels will vary by the asset being traded. Some stocks may reach +30 and -30 before tending to see price reversals, while another stock may reverse near +20 and -20. Mark extreme TSI levels, on the asset being traded, to see where overbought and oversold is. Being oversold doesn't necessarily mean it is time to buy, and when an asset is overbought it doesn't necessarily mean it is time to sell. Traders will typically watch for other signals to trigger a trade decision. For example, they may wait for the price or TSI to start dropping before selling in overbought territory. Alternatively, they may wait for a signal line crossover. Signal Line Crossovers The true strength index has a signal line, which is usually a seven- to 13-period EMA of the TSI line. A signal line crossover occurs when the TSI line crosses the signal line. When the TSI crosses above the signal line from below, that may warrant a long position. When the TSI crosses below the signal line from above, that may warrant selling or short selling. Signal line crossovers occur frequently, so should be utilized only in conjunction with other signals from the TSI. For example, buy signals may be favoured when the TSI is above the zero-line. Or sell signals may be favoured when the TSI is in overbought territory. Zero-line Crossovers The zero-line crossover is another signal the TSI generates. Price momentum is positive when the indicator is above zero and negative when it is below zero. Some traders use the zero-line for a directional bias. For example, a trader may decide only to enter a long position if the indicator is above its zero-line. Conversely, the trader would be bearish and only consider short positions if the indicator's value is below zero. Breakouts and Divergence Traders can use support and resistance levels created by the true strength index to identify breakouts and price momentum shifts. For instance, if the indicator breaks below a trendline, the price may see continued selling. Divergence is another tool the TSI provides. If the price of an asset is moving higher, while the TSI is dropping, that is called bearish divergence and could result in a downside price move. If the TSI is rising while the price is falling, that could signal higher prices to come. This is called bullish divergence. Divergence is a poor timing signal, so it should only be used in conjunction with other signals generated by the TSI or other technical indicators. The Difference Between the True Strength Index (TSI) and the Moving Average Convergence Divergence (MACD) Indicator. The TSI is smoothing price changes to create a technical oscillator. The moving average convergence divergence (MACD) indicator is measuring the separation between two moving averages. Both indicators are used in similar ways for trading purposes, yet they are not calculated the same and will provide different signals at different times. The Limitations of Using the True Strength Index (TSI) Many of the signals provided by the TSI will be false signals. That means the price action will be different than expected following a trade signal. For example, during an uptrend, the TSI may cross below the zero-line several times, but then the price proceeds higher even though the TSI indicates momentum has shifted down. Signal line crossovers also occur so frequently that they may not provide a lot of trading benefit. Such signals need to be heavily filtered based on other elements of the indicator or through other forms of analysis. The TSI will also sometimes change direction without price changing direction, resulting in trade signals that look good on the TSI but continue to lose money based on price. Divergence also tends to unreliable on the indicator. Divergence can last so long that it provides little insight into when a reversal will actually occur. Also, divergence isn't always present when price reversals actually do occur. The TSI should only be used in conjunction with other forms of analysis, such as price action analysis and other technical indicators. This is not financial advice, use at your own risk.
Pine Script™ indicator
by The_Caretaker
20
PRIME - R.o.c.M Ind. W/ TrendsThis experimental script is a variant of a model that allows a separate indicator window to be opened, revealing data for on balance volume, rsi, consumer commodity index and momentum indications. By use of the settings key, you can change the parameter of the source input as well as the desired lengths. After data compilation, the indicator will automatically draw any trend lines applicable to what is presented. The additional code is an attempt to allow the system to apply pivot points for alerts within the indicator itself. Disclaimer: Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold the publishing TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
Pine Script™ indicator
by prim3associat3s
3
Faith IndicatorThis indicator compares buyers demand with sellers supply volumes and calculates which prevails. Therefore it only works if volume is published. Buyers demand is assumed for a period in which a higher high is reached with more volume. Sellers supply is recognized by a lower low combined with more volume. The average of sellers supplies is subtracted from buyers demand, the result is graded because a statement like “The faith in this period was ## percent” has no meaning. We can conclude to more faith and less faith but not represent it in some exact number. This indicator assigns the following grades: Very high faith graduated as 8 High faith as 6 Good faith as 4 Some Faith as 2 Little Faith as 1 Neither Faith nor Distrust as zero Self Protection Distrust graduated as -8 Fear Distrust as -6 Anxiety Distrust as -4 Suspicion Distrust as -2 Doubt Distrust as -1 It is presented as a histogram with blue staves pointing up (meaning faith) and red staves pointing down (meaning distrust) The background is colored using the Hull Agreement Indicator (Hullag), which I published before. Hullag graduates price movements in five grades to which it assigns a background color. These are as follows: grade 2: blue, clear upward movement grade 1: green, some upward movement grade 0: silver, neither upward nor downward movement grade -1: maroon, some downward movement grad -2: red, clear downward movement. Use of the Faith Indicator: The indicator shows price action/momentum as a background color and volume action analyzed as a grade of faith in the form of a histogram. Usually faith comes together with rising prices (blue/green background) and distrust with lowering prices (red/maroon background), however contrarian situations occur, e.g. lowering prices while the market has good faith. These can be explained by minority sellers who act contrary to the feelings in the market. You can then decide that this might be an unsustainable move of the quotes. If the faith indicator confirms the price movement, you might assume that the move is meaningful and will go further. Also if you see faith diminishing you might assume that the move is coming to an end and the tide is going to turn.
Editors' picks
Pine Script™ indicator
by eykpunter
48
CT Reverse Chande Momentum OscillatorIntroducing the Caretakers Reverse Chande Momentum Oscillator. The Chande momentum oscillator is a technical momentum indicator which calculates the difference between the sum of recent gains and the sum of recent losses and then divides the result by the sum of all price movement over the same period. It is used to gauge “pure momentum”. It bears similarities to other momentum indicators such as the Stochastic, Rate of Change and the Relative Strength Index, but other unique features render it a handy tool in the traders handset. The CMO was developed by Tushar Chande. The author introduced the indicator in his 1994 book “The New Technical Trader “. The CMO has a normal range of values between +100 and -100. I have reverse engineered the CMO formula to derive a dual purpose function. The function can calculate the chart price at which the CMO will reach a particular CMO scale value. The function can also calculate the chart price at which the CMO will equal its previous value. I have employed this function here to give the price level where the CMO will equal : Upper alert level ( default 50 ) Zero-Line Lower alert level ( default -50 ) Previous CMO value These crossover levels are displayed via an optional infobox with choice of user selected info. The advantage of knowing the exact prices that this will happen should give the user an additional edge and precision in risk management. Traditionally traders and analysts will consider: Positives values above 50 indicate an “overbought” condition Negative values below -50 indicate an “oversold” condition Common traditional ways to derive signals from the CMO : When the CMO crosses above the zeroline, a buy signal is generated. When the CMO crosses below the zeroline, a sell signal is generated. When the SMI crosses below -50 and then moves back above it, a buy signal is generated. When the SMI crosses above +50 and then moves back below it, a sell signal is generated. Traditionally, traders also look for divergences between the CMO and price action. Chande Momentum oscillating in a narrower band around the zero line, with no penetration of the Overbought and Oversold levels indicates a ranging market. This should not be confused with Chande Momentum oscillating between either the Overbought and the zero line, or the Oversold level and the zero line, which indicates a strong up, or down-trend. It is traditionally considered that the strongest trend signals are from failed swing patterns. It measures momentum on both up and down days and does not smooth results, triggering more frequent oversold and overbought penetrations. The CMO is often used to determine overall market trendiness in conjunction with the SMI where the SMI is used to determine the direction of the trend, and also with volume indicators to show if the momentum carries significant selling or buying pressure.
Pine Script™ indicator
by The_Caretaker
4
CT Reverse Stochastic Momentum IndexIntroducing the Caretakers Reverse Stochastic Momentum Index . According to Investopedia : “The Stochastic Momentum Index (SMI) is a more refined version of the stochastic oscillator, employing a wider range of values and having a higher sensitivity to closing prices.” The SMI was developed by William Blau and introduced in 1993 in an attempt to provide a more reliable indicator, less subject to false swings. It calculates the distance of the current closing price as it relates to the median of the high/low range of price. The SMI has a normal range of values between +100 and -100. When the present closing price is higher than the median, or midpoint value of the high/low range, the resulting value is positive. When the current closing price is lower than that of the midpoint of the high/low range, the SMI has a negative value. I have reverse engineered the SMI formula to derive 2 functions. One function calculates the chart price at which the SMI will reach a particular SMI scale value. The second function calculates the chart price at which the SMI will crossover its signal line. I have employed those functions here to give the price level where the SMI will equal : Upper alert level ( default 40 ) Zero-Line Lower alert level ( default -40 ) Signal line The user can infer from these values that when closing prices cross the levels shown, the SMI will cross the indicated level or signal line. If the price value is less than zero the value will show "impossible". The advantage of knowing the exact prices that this will happen should give the user an additional edge and precision in risk management. These crossover levels are displayed via an optional infobox with choice of user selected info. There is an option to change the decimal places shown. For easy and intuitive reading of the indicator when …. SMI is above the signal line both the SMI and Signal line and the space between them is Green. SMI is below the signal line both the SMI and Signal line and the space between them is Red. SMI is above the Zeroline the space between them is Green. SMI is below the Zeroline the space between them is Red. Traditionally traders and analysts will consider: Positives values above 40 indicate a bullish trend Negative values below -40 indicate a bearish trend . Common traditional ways to derive signals from the SMI : When the SMI crosses above the zeroline, a buy signal is generated. When the SMI crosses below the zeroline, a sell signal is generated. When the SMI crosses below -40 and then moves back above it, a buy signal is generated. When the SMI crosses above +40 and then moves back below it, a sell signal is generated. When the SMI line crosses above the signal line. A signal to buy / take profit is generated When the SMI line crosses below the signal line. A signal to sell / take profit is generated. Traders also look for divergences between the SMI itself or the SMI histogram and price action. The SMI is often used in conjunction with the Chande Momentum Oscillator or R squared indicator to determine overall market trendiness where the SMI is used to determine the direction of the trend, and also with volume indicators to show if the momentum carries significant selling or buying pressure.
Pine Script™ indicator
by The_Caretaker
6
ADX Momentum cross + MacD + HH LL + Buy/Sell Signals and alerts Hello, This is the first indicator I have made and would like to contribute to the community. This strategy came from trying to replicate a previous ADX Cross Indicator that I loved on MT4 which I used successfully on EUR/USD on high and low time frames. Through the process of trying to replicate it I failed, I decided to take what I had written so far and create my own ADX cross strategy using the combination of 3 ADX's, their lag. Then also using Higher highs and lower lows with the MacD to further filter the signals. There are two buy and two sell conditions , the difference between these are just the order in which the ADX crossing determines the entry. The MacD and higher highs and lower lows are the same for filtering the signal. You can change the look back for HH and LL look back range, along with the DI Length & ADX Smoothing for all ADX's. The lag used for either the buy or sell strategy with the Lag_Buy/Lag_Sell inputs. Lag_mid setting will affect all 4 conditions. From testing and based on the ADX cross logic you should follow this structure when changing the inputs for: DI Length: Lowest DI value (I.E. 1) DI Lengtha: Middle DI value (I.E. 2) DI Lengthb: Highest DI value (I.E. 3) ADX Smoothing: Lowest Smoothing value (I.E. 1) ADX Smoothinga: Middle Smoothing value (I.E. 2) ADX Smoothingb: Highest Smoothing value (I.E. 3) I tested this on the EUR/USD, but mainly I have been using it on BTC/USDT(binance) and BTC/USDT Perpetual futures(binance) with the 5 minute chart. I suggest playing around with the settings depending on the Symbol and timeframe you use because the default settings are what I last found to be optimal for my self on the 5min BTC/USDT Perpetual futures(binance) chart. A good starting point I found when using the indicator on other charts is to use the below values: DI Length: 7 DI Lengtha: 14 DI Lengthb: 21 ADX Smoothing: 7 ADX Smoothinga: 14 ADX Smoothingb: 21 If you have any questions, suggestions, or requests for this indicator feel free contact me. You can either comment on here or Message me If you like this indicator please like and comment where you found it useful.
Pine Script™ indicator
by Exmodaus
18
ITG ScalperITG Scalper by Complector. Inspired by Juboal-Rabaroansa Perosteck Alseyn Balveda dam T'seif Methology: - I am using a TEMA (triple EMA) to determine the local trend direction and to give buy & sell signals when the trend changes. - An optional filter, using moving average convergence divergence (MACD), can be switched on to filter out 'false' signals. - The calculation of the TEMA does not request data from a resolution higher or lower than the resolution of the main charts symbol, However, the filter function does, if another resolution is chosen for the filter. - Persistent variables are used for buy and sell prices, enabling color-coding of the sell-signal (profitable or not). Features: - Color coded TEMA - bullish=green , bearish=red - Buy/Sell indicator - Sell indicator: green=profit, yellow=loss - Optional noise filter - Optional variable time-frame for noise filter Remarks: In my experience, the default values works best on the daily time frame. I encourage everyone to experiment with the values for best results. Using the script on non-standard charts (Heikin Ashi, Renko etc.) can produce unrealistic results. Using a resolution higher or lower than the main charts symbol for the filter can possibly lead to repainting. Thanks to Iain M. Banks for making my life richer :-)
Pine Script™ indicator
by Complector
81
[SK] RSI/CCI Correlating OscillatorThe combination of RSI and CCI can be a powerful tool to efficiently signal the strength of the trend and upcoming reversals. The magic comes when you're able to correlate both indicators correctly, this is the power I give you with the RSCCIO. I've added additional features to each indicator that make signals more clear and easier to identify. On the RSI Directional color coding similar to what you can find on a MACD. This helps to identify the general trend ( above or below midline ) and the of the movement within. For precise correlation the RSI is adjusted to a midline of 0. You can still enter the overbought/oversold levels as you'd expect on a regular RSI and it will be automatically adjusted. On the CCI Extreme strength / weakness color coding when the value exceeds the range makes signals more clear. For precise correlation with the RSI, we need to scale down the value of the CCI with the Sensitivity Input. The default value works overall but feel free to play around to adjust the scale of the CCI movement. --- RSI Relative Strength Index The RSI is a momentum indicator that measures the magnitude of recent price changes. An asset is usually considered overbought when the RSI is above 70% and oversold when it is below 30%. CCI Commodity Channel Index The CCI was originally developed to spot trend changes. Use the CCI on the longer-term chart to establish the dominant trend and on the shorter-term chart to isolate pullbacks and generate trade signals.
Pine Script™ indicator
by sirkriz
11
[SK] Double MACDThe Double MACD indicator is precisely two different MACD indicators plotted on the same axis for precise visual correlation between each other. This correlation provides more information than a single regular MACD by allowing you to compare the signals of a shorter timeframe to the default or longer timeframe, showing the strength of the change in momentum and the peak of the momentum between both configurations. The indicator has cloud options by default if you toggle on the MACD / Signal lines for better readability. The cloud will change color to the line on top of it's set. This is to help you not get lost in the 4 different lines. Customize the indicator to your preference and make it your own If you'd like a candle like visualization, change the short MACD plot style to a histogram. For a beautiful double bars style, select bars on both configurations and set the transparency to 30 - 40 For a dynamic moving average style, go with the line plot style ( default ) All MACD/Signal lines are toggled off by default, toggle them on in the inputs section. On the styles panel, you can turn off the cloud fills or the lines. Change all the colors you'd like!
Pine Script™ indicator
by sirkriz
9
Oscillator2OverlayThis experimental study "normalizes" a series into a consistent range such that it can be "overlayed" against an oscillator that's typically plotted independently. It then "denormalizes" the oscillator's signal into the series' original domain, such that important thresholds can _also_ be denormalized into the series' original domain. The normalization/denormalization performed using a long-window bollinger band to define a domain for mapping between-chart space and oscillator-space. This example maps "rsi" into the chart-domain. (!!) Inspired by
Pine Script™ indicator
by jasonnyberg
SPY Ninja Oscillator SPY Ninja Oscillator correlates the true strength index exponential moving averages of SPY (green) and VIX (red) together. In doing so we can determine the start of trend shifts via SPY / VIX convergence in addition to crossover, with potential market entries and exits represented by the vertical green and red bars. MACD and RSI have been scaled proportionally to the oscillator range ( for rsi: (rsi-50)*. 01 , and for macd: macd /3) and when overlaid and used in conjunction with the market vertical entry and exit signals, potential trend prediction becomes much more apparent.
Pine Script™ indicator
by f00nth
4
Stochastic with MACD filter + SL/TP + AlertsLong Arrow : close of the candle is above ema + Stochastic is oversold + MACD is below 0 + Stochastic cross up Short Arrow : close of candle is below ema + Stochastic is overbought + MACD is above 0 + Stochastic cross down Also added SL, 1:1 and TP where SL can be varied by ATR value and TP is set to 2:1 RR but it can be varied too. It is not meant to take every single trade even though that might already be profitable. For higher winrate look for the higher timeframe trend for example when trading the 15min look if the Daily 8ema is going up or down. Also only take trades when there is either a hidden divergence on RSI or a smaller normal divergence. The I take the normal divergenes alo when there is no higher high like an M or lower low for longs like a W these tend to work out pretty good too. Alerts are in it too. Have Fun :)
Pine Script™ indicator
by pesat7900