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Chart patterns

Support and Resistancelookback: This input allows you to specify the number of bars to look back to calculate the support and resistance levels. support: This is calculated as the lowest low over the specified lookback period. resistance: This is calculated as the highest high over the specified lookback period. plot: The support and resistance levels are plotted on the chart with different colors. bgcolor: This optional feature highlights the support and resistance zones with a semi-transparent background color.
Pine Script™ indicator
by Giuseppe5613
RoGr75 - EMA 50/8 Cross With Buy/Sell Signals RoGr75 - EMA 50/8 Cross With Buy/Sell Signals --- **Overview:** This script is designed to generate **Buy** and **Sell** signals based on the crossover and crossunder of two Exponential Moving Averages (EMAs): **EMA 8** (green line) and **EMA 50** (blue line). The signals are plotted at a user-defined distance from the candles, ensuring clear visibility and adaptability to market volatility. --- **Key Features:** 1. **EMA Cross Signals**: - A **Buy Signal** is generated when the **EMA 8** crosses above the **EMA 50**. - A **Sell Signal** is generated when the **EMA 8** crosses below the **EMA 50**. 2. **Variable Signal Distance**: - The distance of the Buy and Sell signals from the candles is controlled by a **user-defined input** (`signal_distance`). - The distance is calculated using the **Average True Range (ATR)** to adapt to market volatility. 3. **Customizable Parameters**: - `signal_distance`: Adjust the distance of the signals from the candles (default: 2.0). - ATR period: Fixed at 14 but can be modified in the script. 4. **Visual Enhancements**: - Buy signals are displayed as green labels below the candles. - Sell signals are displayed as red labels above the candles. - Optional background highlighting for Buy and Sell signals. --- **How It Works:** - The script calculates the **EMA 8** and **EMA 50** and plots them on the chart. - When a crossover or crossunder occurs, a label is placed at a distance determined by the formula: - **Buy Signal Position**: `low - (signal_distance * ATR(14))` - **Sell Signal Position**: `high + (signal_distance * ATR(14))` - The signals are clearly visible and adapt to the volatility of the asset. --- **Input Parameters:** - `signal_distance` (type: input float): Controls the distance of the Buy and Sell signals from the candles. Default value is `2.0`. --- **Usage:** 1. Add the script to your chart in TradingView. 2. Adjust the `signal_distance` input to set the desired distance of the signals from the candles. 3. Monitor the Buy and Sell signals generated by the script for potential trading opportunities. --- **Example:** - If `signal_distance` is set to `2.0`, the Buy signal will appear **2x ATR** below the candle's low, and the Sell signal will appear **2x ATR** above the candle's high. --- **Customization:** - Modify the ATR period or replace it with a fixed value for static distance. - Adjust the colors, styles, and sizes of the labels and EMAs to suit your preferences. --- **Ideal For:** - Traders looking for a simple and effective EMA crossover strategy. - Users who want customizable signal placement for better visibility. - Those who prefer volatility-adjusted signal distances. --- **Note:** This script is for educational and informational purposes only. Always backtest and validate strategies before using them in live trading.
Pine Script™ indicator
by Vallentuna2
1
RSI Crossover dipali parikhThis script generates buy and sell signals based on the crossover of the Relative Strength Index (RSI) and the RSI-based Exponential Moving Average (EMA). It also includes an additional condition for both buy and sell signals that the RSI-based EMA must be either above or below 50. Key Features: Buy Signal: Triggered when: The RSI crosses above the RSI-based EMA. The RSI-based EMA is above 50. A green "BUY" label will appear below the bar when the buy condition is met. Sell Signal: Triggered when: The RSI crosses below the RSI-based EMA. The RSI-based EMA is below 50. A red "SELL" label will appear above the bar when the sell condition is met. Customizable Inputs: RSI Length: Adjust the period for calculating the RSI (default is 14). RSI-based EMA Length: Adjust the period for calculating the RSI-based EMA (default is 9). RSI Threshold: Adjust the threshold (default is 50) for when the RSI-based EMA must be above or below. Visuals: The RSI is plotted as a blue line. The RSI-based EMA is plotted as an orange line. Buy and sell signals are indicated by green "BUY" and red "SELL" labels. Alerts: Alerts can be set for both buy and sell conditions to notify you when either condition is met. How to Use: Use this script to identify potential buy and sell opportunities based on the behavior of the RSI relative to its EMA. The buy condition indicates when the RSI is strengthening above its EMA, and the sell condition signals when the RSI is weakening below its EMA. Strategy Use: Ideal for traders looking to leverage RSI momentum for entering and exiting positions. The RSI-based EMA filter helps smooth out price fluctuations, focusing on stronger signals. This script is designed for both discretionary and algorithmic traders, offering a simple yet effective method for spotting trend reversals and continuation opportunities using RSI.
Pine Script™ indicator
by AKSHAR_TRADERS
Three Bar Reversal & Patterns with TP, SL and EntryThe indicator I shared implements a strategy to detect and plot several key patterns (Three Bar Reversal, Double Bottom, Double Top, W, and M patterns) along with visual markers for buy and sell signals. It also uses line drawing to connect the patterns and alert the user when a signal is detected. To identify the time frame suitability for each pattern and signal, let's break down how certain timeframes might affect the effectiveness and frequency of these patterns. Here are some general guidelines: 1. Three Bar Reversal Best Timeframe: 5-minute to 1-hour. Why: The Three Bar Reversal is a relatively short-term pattern that reacts quickly to price changes, making it more suitable for lower timeframes (5-minute, 15-minute, 30-minute, or 1-hour). On higher timeframes (like daily), these reversals might become too broad or rare, decreasing their effectiveness. 2. Double Bottom & Double Top Best Timeframe: 1-hour to 4-hour. Why: Double bottoms and tops tend to be more reliable on slightly longer timeframes (1-hour, 4-hour). These patterns signify stronger market reversals, so they need more time to form. On shorter timeframes, the patterns might appear too frequently or be invalidated by minor price fluctuations. 3. W Pattern Best Timeframe: 1-hour to daily. Why: The W pattern is a trend reversal pattern that tends to form over a longer period of time. It requires a series of price movements to complete, so it is better suited for 1-hour, 4-hour, or daily charts. On shorter timeframes, the pattern could appear too frequently, reducing its reliability. 4. M Pattern Best Timeframe: 1-hour to daily. Why: Like the W pattern, the M pattern is a reversal signal that requires more time to form. It’s more reliable on mid-range timeframes (1-hour to daily) where the market has time to develop these top structures. Shorter timeframes will produce more noise and less reliable M patterns. 5. Buy/Sell Signals Best Timeframe for Buy Signals: 5-minute to 4-hour (for short-term momentum). Best Timeframe for Sell Signals: 5-minute to 4-hour. Why: The buy/sell signals can be applied across a range of timeframes. On shorter timeframes (5-minute, 15-minute, or 30-minute), the signals can help capture smaller, quick trends. For more significant moves, you can extend to 1-hour or 4-hour timeframes. Longer timeframes (like daily) would reduce signal frequency, but the signals would likely represent stronger price movements. Example of Timeframe Suitability: 5-minute charts: Good for Three Bar Reversal and Buy/Sell Signals. Patterns like Double Bottom and Double Top may appear too often and be less significant. 30-minute charts: Suitable for Three Bar Reversal, Double Bottom, Double Top, and Buy/Sell Signals. More reliable than shorter timeframes. 1-hour charts: A balanced timeframe for Double Bottom, Double Top, W, M, and Buy/Sell Signals. 4-hour charts: Excellent for more substantial patterns like Double Bottom, Double Top, W, and M. Three Bar Reversal and Buy/Sell Signals will also be reliable. Daily charts: Best for identifying more significant patterns like Double Bottom, Double Top, W, and M. Buy and sell signals will appear less frequently.
Pine Script™ indicator
by pecap_akara
Specta2 Bull SupportOverview The Specta2 Strategy is a comprehensive trading system designed to generate buy and sell signals based on a combination of technical indicators: Bollinger Bands, Moving Average Convergence Divergence (MACD), Relative Strength Index (RSI), and Average True Range (ATR). It incorporates advanced risk management techniques, including ATR-based stop loss and take profit levels, as well as a cooldown mechanism to prevent rapid re-entries after exiting a position. Target markets The Specta2 Strategy is best suited for bullish market instruments that exhibit strong upward trends and consistent momentum. Ideal tickers typically include: Large-Cap Stocks: Companies with substantial market capitalization and liquidity, such as those in the S&P 500. High-Volume ETFs: Exchange-Traded Funds that track major indices or sectors. Forex Pairs: Major currency pairs like EUR/USD, GBP/USD, which generally exhibit strong trends. Commodities: Trending commodities like Gold, Oil, which can experience sustained movements. Market Behaviors This strategy thrives under the following market conditions: Bullish Trends: Clearly defined upward trends where prices consistently make higher highs and higher lows. High Volatility Periods: Times when ATR indicates increased volatility, allowing ATR-based stop loss and take profit levels to adapt effectively. Strong Momentum: Situations where indicators like MACD and RSI confirm robust upward momentum, reducing the likelihood of false signals. Low to Moderate Sideways Movement: While not optimal, the strategy can handle some consolidation as long as overarching bullish momentum is present. Final Note The Specta2 Strategy is a robust system that leverages multiple technical indicators to generate trading signals while incorporating essential risk management tools. By understanding its components and carefully configuring its parameters, users can adapt the strategy to various market conditions and trading styles. Continuous monitoring, backtesting, and optimization are recommended to ensure sustained performance and alignment with individual trading goals.
Pine Script™ strategy
by pawel_firut
337 Day EMA with buy/selll and uptrend downtrend Notifications!337 Day EMA with buy/selll and uptrend downtrend Notifications! A a sophisticated trading tool designed to help traders identify significant market trends and make informed decisions. By leveraging the 337-day Exponential Moving Average (EMA), this indicator provides a clear visual representation of the long-term price trend of an asset. The EMA gives more weight to recent prices, making it a responsive and reliable indicator. Key Features 337-day EMA Calculation The indicator calculates the 337-day EMA, which smooths out price data and highlights the overall trend by giving greater significance to recent price changes. Trend Identification Uptrend: An uptrend is detected when the price crosses above the 337 EMA, signaling a potential bullish market. This is visually represented with a green "Uptrend" label below the corresponding bar. Downtrend A downtrend is identified when the price crosses below the 337 EMA, indicating a potential bearish market. This is marked with a red "Downtrend" label above the corresponding bar. Alert Notifications The indicator includes built-in alert conditions for both uptrends and downtrends. Traders receive real-time notifications when the price crosses above or below the 337 EMA, ensuring they are promptly informed of significant market movements. Customizable Visuals The uptrend and downtrend labels are designed to be easily readable, with green "Uptrend" text boxes and red "Downtrend" text boxes, enhancing the clarity of the trend signals. Benefits Timely Alerts: Receive instant notifications about key trend changes, allowing for timely trading decisions. Long-Term Perspective: The 337-day EMA provides a comprehensive view of the market's long-term trend, reducing the noise of short-term fluctuations. Enhanced Readability: The clear visual labels for uptrends and downtrends make it easy to interpret the market conditions at a glance. By integrating the "337 EMA with Uptrend/Downtrend Notifications" into your trading strategy, you can stay ahead of market trends and make more informed trading decisions. This tool is particularly useful for traders looking for a reliable way to identify long-term trends and react to significant market movements effectively. Let me know if there's anything else you need or if you want more details! 📈
Pine Script™ indicator
by Henrywaters
BLAKFX Trading SystemYour indicator is an advanced Smart Money Concepts (SMC) trading system that combines multiple technical analysis approaches. Here's a detailed breakdown: 1. Core Components: Market Structure Analysis: - Break of Structure (BOS) detection - Change of Character (CHOCH) identification - Smart Money movement patterns - Elliott Wave pattern tracking Liquidity Analysis: - Identifies buy and sell liquidity zones - Marks liquidity points with circles (green for buy, red for sell) - Tracks historical liquidity levels Order Blocks: - Detects bullish and bearish order blocks - Shows them as colored boxes on the chart - Uses volume confirmation for validation Fair Value Gaps (FVG): - Identifies both bullish and bearish FVGs - Displays them as colored boxes - Tracks historical FVG levels 2. Technical Elements: Smart Money Technique (SMT): - Uses EMA crossovers (50 and 200) - Volume confirmation - Shown as diamond shapes on the chart Central Risk Transfer (CRT): - Calculates equilibrium levels - Shows as a yellow line on the chart - Helps identify potential reversal zones Elliott Wave Integration: - Tracks wave counts - Labels waves on the chart - Helps with trend structure analysis 3. Trade Signals: Entry Conditions: - Long entries shown with green up arrows - Short entries shown with red down arrows - Combines multiple confirmations (SMT, liquidity, order blocks) Visual Indicators: - Color-coded for easy interpretation - Historical signals maintained - Clear entry and exit points 4. Risk Management: - Built-in risk-reward ratio calculations - ATR-based volatility consideration - Clear trade information display 5. Customization Options: Colors: - Bullish/Bearish colors - FVG colors - Order block colors Parameters: - Lookback period - Risk-reward ratio - Various technical settings 6. Additional Features: - Memory management (periodic array clearing) - Alert conditions for entries - Detailed trade information labels - Historical pattern tracking This indicator is particularly useful for traders who: - Follow Smart Money Concepts - Use institutional trading methods - Need multiple confirmation layers - Want clear visual signals - Trade based on order flow and liquidity Would you like me to elaborate on any particular aspect or explain how specific components work together?
Pine Script™ indicator
by BLAKPOPE
200 Day EMA Slow Ema with uptrend and downtrend signal! The 200 Exponential Moving Average (EMA) is a widely-used technical indicator in trading. It helps traders identify the overall direction of the market by smoothing out price data over a longer period. The 200 EMA gives more weight to recent prices, making it more responsive to new information compared to a simple moving average. Identifying Market Trends: Uptrend: When the price of an asset is consistently above the 200 EMA, it suggests that the market is in an uptrend. Traders often interpret this as a sign of bullish sentiment and may look for buying opportunities. Downtrend: Conversely, when the price is consistently below the 200 EMA, it indicates a downtrend. This is typically seen as a bearish signal, and traders might consider selling or shorting the asset. Setting Up Notifications: To stay informed about these key movements, you can set up notifications on your trading platform to alert you when the price crosses the 200 EMA: Uptrend Notification: This alert triggers when the price crosses above the 200 EMA, signaling a potential uptrend. Downtrend Notification: This alert triggers when the price crosses below the 200 EMA, signaling a potential downtrend. By setting these notifications, you can ensure that you are promptly informed about significant market changes, allowing you to make timely trading decisions without constantly monitoring the charts.
Pine Script™ indicator
by Henrywaters
NVDA - Gaussian Channel Strategy v3.4📌 Strategy Description: Gaussian Channel Trading Strategy for NVDA Overview The Gaussian Channel Strategy is a trend-following and momentum-based strategy that combines Gaussian filtering with Stochastic RSI crossovers to detect high-probability entry and exit points. This version is specifically optimized for NVDA stock, ensuring proper execution of orders with backtesting support. 🔹 Key Components Gaussian Filter (Ehlers' Technique) A low-lag smoothing filter that removes noise and highlights the primary market trend. It constructs upper and lower bands to define potential support and resistance levels. The midline (Gaussian Filter) helps determine bullish vs. bearish conditions. Stochastic RSI for Entry Signals Momentum indicator that helps identify overbought and oversold conditions. Uses %K and %D crossovers to generate buy (bullish) and sell (bearish) signals. Risk Management with Stop Loss & Take Profit Stop Loss: Set at 2% below the entry price to limit downside risk. Take Profit: Set at 5% above the entry price to lock in gains. Ensures controlled risk-to-reward ratio. 📊 Trading Logic Buy Entry Condition (Go Long) Stochastic RSI crossover: %K crosses above %D (bullish momentum). Gaussian Filter confirms an uptrend (filt > filt ). Price is trading above the Gaussian Filter (close > filt). Backtesting range is valid (between 2020 - 2069). ✅ If conditions are met: → Enter Long Position (strategy.entry("Long", strategy.long)) Sell Entry Condition (Go Short) Stochastic RSI crossover: %K crosses below %D (bearish momentum). Gaussian Filter confirms a downtrend (filt < filt ). Price is trading below the Gaussian Filter (close < filt). ✅ If conditions are met: → Enter Short Position (strategy.entry("Short", strategy.short)) Exit Conditions Stop Loss triggers when price moves 2% against position. Take Profit triggers when price moves 5% in favor of the position. Uses strategy.exit() to automatically manage risk. 🔹 Visual Indicators ✔ Gaussian Filter Midline (Blue): Determines trend direction. ✔ Upper Band (Green): Resistance level for potential reversals. ✔ Lower Band (Red): Support level for possible bounces. ✔ Bar Color Coding: Green Bars: Price trading above Gaussian Filter (bullish trend). Red Bars: Price trading below Gaussian Filter (bearish trend). ✔ Buy & Sell Markers (plotshape()) Green ⬆ (Buy Signals) Red ⬇ (Sell Signals) 📈 Strategy Use Case Best for trend-following traders who want smooth, noise-free signals. Ideal for swing traders targeting 2-5% price moves on NVDA. Reduces false breakouts by requiring both Gaussian trend confirmation and Stochastic RSI crossovers. Works well on high-liquidity stocks like NVDA, especially in volatile conditions. 🚀 Summary ✅ Combines trend detection (Gaussian Filter) with momentum confirmation (Stochastic RSI). ✅ Automated buy/sell execution with visual confirmations. ✅ Risk-controlled strategy with Stop Loss (2%) and Take Profit (5%). ✅ Optimized for NVDA stock, with proper execution & capital allocation.
Pine Script™ strategy
by mattyellin1
Ultimate Stochastics Strategy by NHBprod Use to Day Trade BTCHey All! Here's a new script I worked on that's super simple but at the same time useful. Check out the backtest results. The backtest results include slippage and fees/commission, and is still quite profitable. Obviously the profitability magnitude depends on how much capital you begin with, and how much the user utilizes per order, but in any event it seems to be profitable according to backtests. This is different because it allows you full functionality over the stochastics calculations which is designed for random datasets. This script allows you to: Designate ANY period of time to analyze and study Choose between Long trading, short trading, and Long & Short trading It allows you to enter trades based on the stochastics calculations It allows you to EXIT trades using the stochastics calculations or take profit, or stop loss, Or any combination of those, which is nice because then the user can see how one variable effects the overall performance. As for the actual stochastics formula, you get control, and get to SEE the plot lines for slow K, slow D, and fast K, which is usually not considered. You also get the chance to modify the smoothing method, which has not been done with regular stochastics indicators. You get to choose the standard simple moving average (SMA) method, but I also allow you to choose other MA's such as the HMA and WMA. Lastly, the user gets the option of using a custom trade extender, which essentially allows a buy or sell signal to exist for X amount of candles after the initial signal. For example, you can use "max bars since signal" to 1, and this will allow the indicator to produce an extra sequential buy signal when a buy signal is generated. This can be useful because it is possible that you use a small take profit (TP) and quickly exit a profitable trade. With the max bars since signal variable, you're able to reenter on the next candle and allow for another opportunity. Let me know if you have any questions! Please take a look at the performance report and let me know your thoughts! :)
Pine Script™ strategy
by nhbprod
Overnight vs Intra-day Performance█ STRATEGY OVERVIEW The "Overnight vs Intra-day Performance" indicator quantifies price behaviour differences between trading hours and overnight periods. It calculates cumulative returns, compound growth rates, and visualizes performance components across user-defined time windows. Designed for analytical use, it helps identify whether returns are primarily generated during market hours or overnight sessions. █ USAGE Use this indicator on Stocks and ETFs to visualise and compare intra-day vs overnight performance █ KEY FEATURES Return Segmentation : Separates total returns into overnight (close-to-open) and intraday (open-to-close) components Growth Tracking : Shows simple cumulative returns and compound annual growth rates (CAGR) █ VISUALIZATION SYSTEM 1. Time-Series Overnight Returns (Red) Intraday Returns (Blue) Total Returns (White) 2. Summary Table Displays CAGR 3. Price Chart Labels Floating annotations showing absolute returns and CAGR Color-coded to match plot series █ PURPOSE Quantify market behaviour disparities between active trading sessions and overnight positioning Provide institutional-grade attribution analysis for returns generation Enable tactical adjustment of trading schedules based on historical performance patterns Serve as foundational research for session-specific trading strategies █ IDEAL USERS 1. Portfolio Managers Analyse overnight risk exposure across holdings Optimize execution timing based on return distributions 2. Quantitative Researchers Study market microstructure through time-segmented returns Develop alpha models leveraging session-specific anomalies 3. Market Microstructure Analysts Identify liquidity patterns in overnight vs daytime sessions Research ETF premium/discount mechanics 4. Day Traders Align trading hours with highest probability return windows Avoid overnight gaps through informed position sizing
Pine Script™ indicator
by Botnet101
Hammer & Inverted Hammer DetectorThis Pine Script indicator detects Hammer and Inverted Hammer candlestick patterns based on price action and VWAP (Volume Weighted Average Price). It evaluates the relationship between the current and previous candles, checking shadow lengths and body size to confirm the pattern. If a Hammer is identified, a green upward label appears below the candle, while an Inverted Hammer is marked with a red downward label above the candle.
Pine Script™ indicator
by yagelarbiv3
Fshariar_Enhanced Quasimodo Pattern**Enhanced Quasimodo Pattern Indicator** The **Enhanced Quasimodo Pattern Indicator** is a powerful technical analysis tool designed for **TradingView** users. This script identifies the **Quasimodo pattern**, a key reversal formation used by professional traders to anticipate market turning points with high accuracy. ### **Features:** ✅ **Quasimodo Pattern Detection**: Automatically spots **bullish and bearish Quasimodo setups** on the chart. ✅ **Multi-Confirmation Signals**: Incorporates **RSI divergence, volume spikes, and trend filters** to enhance reliability. ✅ **Fibonacci-Based Entry & Exit**: Uses **61.8% and 78.6% Fibonacci retracement levels** for optimal trade entries. ✅ **Dynamic Take Profit & Stop Loss Levels**: Plots **161.8% Fibonacci extensions** as TP targets and SL based on the X-point. ✅ **Multi-Timeframe Trend Analysis**: Uses **EMA 50 & EMA 200** to filter trades in line with the prevailing trend. ✅ **Real-Time Alerts**: Get notified instantly when a **buy or sell signal** is detected. ### **How It Works:** - **Bearish Quasimodo (Sell Signal)**: Triggered when a higher high is followed by a lower low, indicating a reversal. - **Bullish Quasimodo (Buy Signal)**: Triggered when a lower low is followed by a higher high, signaling a potential uptrend. - **Confirmation Criteria**: RSI divergence, volume spikes, and EMA-based trend analysis help filter out false signals. ### **Who Can Benefit?** - **Day Traders & Swing Traders** looking for high-probability reversal setups. - **Price Action Traders** who rely on **support & resistance** structures. - **Fibonacci Traders** seeking **retracement & extension-based entries.** This indicator is fully customizable, allowing traders to adjust **swing length, RSI settings, and Fibonacci levels** to match their trading strategy. 🚀 📌 **Try it on your TradingView chart today and enhance your technical analysis!** Developed by **FShariar**
Pine Script™ indicator
by fshariar
3ATMANE SUPP AND RESIST WITH TREND BARSupport & Resistance: The indicator identifies potential support and resistance levels based on a zigzag pattern. It uses a "depth" and "deviation" input to determine the swings in price that define the zigzag. You can choose to display these levels as either lines or boxes. TrendBars: The indicator also calculates and displays TrendBars, which are bars colored green for uptrends and red for downtrends. This is based on a calculation involving the difference between the current price and the price 'per' periods ago, smoothed by an adaptive average period. Diagonal Lines: The script draws diagonal lines connecting the zigzag turning points. These lines visualize the overall trend and can also have support and resistance lines plotted along them. Inputs and Customization: The script offers a wide array of customization options through its inputs: Current S/R Setting: Horizontal type: Choose between displaying support/resistance as boxes or lines. Depth: The lookback period for identifying swing highs and lows for the zigzag calculation. Higher values mean fewer, stronger levels. Deviation: The minimum price change required to define a new swing in the zigzag. Higher values mean fewer swings. Color: The color of the horizontal support/resistance lines or boxes. Extend lines: Extends the horizontal support/resistance lines to the right edge of the chart. Line count: The maximum number of horizontal support/resistance lines or boxes to display. Diagonal Line Setting: Line thickness: The thickness of the diagonal zigzag lines. Line style: The style of the diagonal zigzag lines (solid, dotted, dashed). Diagonal color: The color of the main diagonal zigzag line. Zigzag count: The maximum number of diagonal zigzag lines to display. Diagonal high color: Color for diagonal support/resistance lines related to highs. Diagonal low color: Color for diagonal support/resistance lines related to lows. Diagonal S/R line count: The number of support/resistance lines drawn along the diagonal. Show diagonal S/R lines: Toggles the display of the diagonal support/resistance lines. Basic Settings (TrendBars): Source: The price source to use for the TrendBars calculation (e.g., close, open, high, low). Period: The period used in the TrendBars calculation. UI Options (TrendBars): Color bars?: Toggles the coloring of the bars based on the TrendBars calculation. How it Works (Simplified): Zigzag Calculation: The f_zigzag function identifies swing highs and lows based on the depth and deviation inputs. Support/Resistance Levels: Horizontal lines or boxes are drawn at the identified swing points. Diagonal Lines: The f_addDiagonalLine function connects the zigzag turning points with diagonal lines. TrendBars Calculation: The script calculates a smoothed trend based on price changes over the specified period and colors the bars accordingly. Drawing: The script uses line.new, box.new, and label.new to draw the support/resistance levels, diagonal lines, and labels on the chart. Key Features: Dynamic Support/Resistance: The levels are recalculated as new price data becomes available. Customizable: The numerous inputs allow you to tailor the indicator to your specific needs. TrendBars Integration: Combines support/resistance with a trend indicator for a more comprehensive view. Uses: This indicator can be used to: Identify potential areas of support and resistance. Visualize the overall trend. Confirm trend changes. Potentially identify entry and exit points. Limitations: Repainting: Like many zigzag-based indicators, this one can repaint. This means that the levels may adjust as new bars close, potentially changing the appearance of past signals. Be cautious when using it for backtesting or real-time trading decisions. Subjectivity: The zigzag calculation involves parameters that can be subjective and may require experimentation to find optimal settings for different markets and timeframes. False Signals: No indicator is perfect, and this one can also generate false signals. Use it in conjunction with other indicators and your own analysis. This detailed description should give you a good understanding of how the indicator works and how to use it. Remember to experiment with the different settings to find what works best for you.
Pine Script™ indicator
by Pinky280
Simple Buy/Sell Indicator: gordonatedThis chart displays the performance trends of two Simple Moving Averages (SMAs) over time, with a short-term SMA in blue and a long-term SMA in red. Buy signals are marked by green labels where the short-term SMA crosses above the long-term SMA, suggesting potential entry points for traders. Conversely, sell signals are indicated by red labels where the short-term SMA crosses below the long-term SMA, signaling potential exit points or bearish trends. The chart helps visualize momentum and potential trend reversals in price movements.
Pine Script™ indicator
by gordonated
ETH Trend Strategy with Multi-Timeframe and ATR ProtectionOverview The Optimized ETH Trend Strategy is designed to leverage adaptive trend-following techniques using multiple indicators. This strategy combines exponential moving averages (EMA), the Average Directional Index (ADX), and Average True Range (ATR) to identify and execute trades with trend confirmation. The strategy also applies multi-timeframe validation and volume analysis to filter trades, improving the likelihood of success. This strategy is optimized for Ethereum/USDT but can be tested on other assets. Its most effective results have been observed on the 4-hour timeframe with appropriate adjustments to stop-loss and risk management settings. Core Features EMA Trend Detection: The strategy uses a fast EMA (21-period) and a slow EMA (50-period). A crossover event signals the beginning of a potential trend. To prevent false signals, a higher timeframe (1-hour) EMA is also checked for trend alignment. ADX Trend Strength Confirmation: The ADX indicator measures the strength of a trend. Only trades where ADX exceeds the threshold (default: 25) are considered. Candlestick and Volume Filters: Candlestick patterns (e.g., bullish or bearish engulfing) serve as an optional confirmation tool to strengthen trade entries. Volume is compared to a smoothed moving average to ensure the trade has sufficient market activity. Dynamic Stop-Loss via ATR: The ATR (Average True Range) is used to calculate dynamic stop-loss levels, allowing flexibility based on market volatility. A trailing stop-loss system protects profits during extended trends while minimizing drawdowns. Strategy Parameters Parameter Default Value Description Fast EMA Length 21 The period for the fast EMA, used to detect short-term trends. Slow EMA Length 50 The period for the slow EMA, providing longer-term trend guidance. ADX Threshold 25 Minimum ADX value required to confirm a strong trend. ATR Multiplier 3.0 Multiplier applied to ATR for dynamic stop-loss calculation. Volume Smoothing Period 20 Period for calculating average volume to filter low-volume conditions. Use Candlestick Confirmation True Enables or disables additional candlestick pattern confirmation. Entry and Exit Logic Long Entry: A long position is triggered when: The fast EMA crosses above the slow EMA. The current price is above the fast EMA. ADX confirms trend strength. Multi-timeframe EMA alignment indicates higher timeframe confirmation. Volume exceeds the smoothed average. (Optional) A bullish candlestick pattern is detected. Short Entry: A short position is triggered under similar conditions but in the opposite direction. Exit Strategy: The strategy uses a trailing stop-loss system based on the ATR. This allows the strategy to lock in profits while reducing exposure during market reversals. Performance Notes This strategy is designed with risk management in mind, limiting trades to 5% of account equity per trade by default. Results will vary depending on market conditions and the selected timeframe. During periods of consolidation, false signals may occur more frequently, which is mitigated through volume and trend strength confirmation. Important Considerations Backtesting Setup: The default properties are configured to simulate realistic trading conditions, including a commission of 0.075% per trade. Users should verify their results with appropriate slippage and commission values for their specific exchange. No Guarantee of Future Performance: While this strategy has performed well under historical conditions, past performance does not guarantee future results. Always test strategies thoroughly before live trading. Customization: Traders can adjust parameters (e.g., EMA lengths, ATR multiplier, and ADX threshold) to better suit different assets or timeframes. It is recommended to test any changes in a simulated environment. How to Use Apply the strategy to your chart on TradingView. Adjust the parameters according to your asset and timeframe. Enable alerts to receive notifications for potential trade entries. Monitor the performance in the strategy tester to assess the effectiveness of your setup. Disclaimer This strategy is intended for educational and informational purposes only. It is not financial advice. Users are responsible for their own trading decisions and risk management.
Pine Script™ strategy
by cryptechcapital