Confirmed market structure buy/sell indicatorOverview
The Swing Point Breakout Indicator with Multi-Timeframe Dashboard is a TradingView tool designed to identify potential buy and sell signals based on swing point breakouts on the primary chart's timeframe while simultaneously providing a snapshot of the market structure across multiple higher timeframes. This dual approach helps traders make informed decisions by aligning short-term signals with broader market trends.
Key Features
Swing Point Breakout Detection
Swing Highs and Lows: Identifies significant peaks and troughs based on a user-defined lookback period.
Breakout Signals:
Bullish Breakout (Buy Signal): Triggered when the price closes above the latest swing high.
Bearish Breakout (Sell Signal): Triggered when the price closes below the latest swing low.
Visual Indicators: Highlights breakout bars with colors (lime for bullish, red for bearish) and plots buy/sell markers on the chart.
Multi-Timeframe Dashboard
Timeframes Monitored: 1m, 5m, 15m, 1h, 4h, 1D, and 1W.
Market Structure Status:
Bullish: Indicates upward market structure.
Bearish: Indicates downward market structure.
Neutral: No clear trend.
Visual Table: Displays each timeframe with its current status, color-coded for quick reference (green for bullish, red for bearish, gray for neutral).
Operational Workflow
Initialization:
Sets up a dashboard table on the chart's top-right corner with headers "Timeframe" and "Status".
Swing Point Detection:
Continuously scans the main timeframe for swing highs and lows using the specified lookback period.
Updates the latest swing high and low levels.
Signal Generation:
Detects when the price breaks above the last swing high (bullish) or below the last swing low (bearish).
Activates potential buy/sell setups and confirms signals based on subsequent price movements.
Dashboard Update:
For each defined higher timeframe, assesses the market structure by checking for breakouts of swing points.
Updates the dashboard with the current status for each timeframe, aiding in trend confirmation.
Visualization:
Colors the bars where breakouts occur.
Plots buy and sell signals directly on the chart for easy identification.
Cycles
US Party Rule Indicator**Here's a description you can use for the indicator:**
**US Party Rule Indicator**
This indicator visually represents the political party in power in the United States over a specified period. It overlays a colored 200-day Exponential Moving Average (EMA) on the chart. The color of the EMA changes to reflect the ruling party, providing a visual representation of political influence on market trends.
**Key Features:**
- **Dynamic Color-Coded EMA:** The 200-EMA changes color to indicate the party in power (Red for Republican, Blue for Democrat).
- **Clear Visual Representation:** The colored EMA provides an easy-to-understand visual cue for identifying periods of different political parties.
- **Historical Context:** By analyzing the historical data, you can gain insights into potential correlations between party rule and market trends.
**How to Use:**
1. **Add the Indicator:** Add the "US Party Rule Indicator" to your chart.
2. **Interpret the Color:** The color of the 200-EMA indicates the ruling party at that time.
3. **Analyze Market Trends:** Use the indicator to identify potential correlations between political events and market movements.
**Note:** This indicator is for informational purposes only and should not be used as the sole basis for investment decisions. Always conduct thorough research and consider consulting with a financial advisor.
High/Low Location Frequency [LuxAlgo]The High/Low Location Frequency tool provides users with probabilities of tops and bottoms at user-defined periods, along with advanced filters that offer deep and objective market information about the likelihood of a top or bottom in the market.
🔶 USAGE
There are four different time periods that traders can select for analysis of probabilities:
HOUR OF DAY: Probability of occurrence of top and bottom prices for each hour of the day
DAY OF WEEK: Probability of occurrence of top and bottom prices for each day of the week
DAY OF MONTH: Probability of occurrence of top and bottom prices for each day of the month
MONTH OF YEAR: Probability of occurrence of top and bottom prices for each month
The data is displayed as a dashboard, which users can position according to their preferences. The dashboard includes useful information in the header, such as the number of periods and the date from which the data is gathered. Additionally, users can enable active filters to customize their view. The probabilities are displayed in one, two, or three columns, depending on the number of elements.
🔹 Advanced Filters
Advanced Filters allow traders to exclude specific data from the results. They can choose to use none or all filters simultaneously, inputting a list of numbers separated by spaces or commas. However, it is not possible to use both separators on the same filter.
The tool is equipped with five advanced filters:
HOURS OF DAY: The permitted range is from 0 to 23.
DAYS OF WEEK: The permitted range is from 1 to 7.
DAYS OF MONTH: The permitted range is from 1 to 31.
MONTHS: The permitted range is from 1 to 12.
YEARS: The permitted range is from 1000 to 2999.
It should be noted that the DAYS OF WEEK advanced filter has been designed for use with tickers that trade every day, such as those trading in the crypto market. In such cases, the numbers displayed will range from 1 (Sunday) to 7 (Saturday). Conversely, for tickers that do not trade over the weekend, the numbers will range from 1 (Monday) to 5 (Friday).
To illustrate the application of this filter, we will exclude results for Mondays and Tuesdays, the first five days of each month, January and February, and the years 2020, 2021, and 2022. Let us review the results:
DAYS OF WEEK: `2,3` or `2 3` (for crypto) or `1,2` or `1 2` (for the rest)
DAYS OF MONTH: `1,2,3,4,5` or `1 2 3 4 5`
MONTHS: `1,2` or `1 2`
YEARS: `2020,2021,2022` or `2020 2021 2022`
🔹 High Probability Lines
The tool enables traders to identify the next period with the highest probability of a top (red) and/or bottom (green) on the chart, marked with two horizontal lines indicating the location of these periods.
🔹 Top/Bottom Labels and Periods Highlight
The tool is capable of indicating on the chart the upper and lower limits of each selected period, as well as the commencement of each new period, thus providing traders with a convenient reference point.
🔶 SETTINGS
Period: Select how many bars (hours, days, or months) will be used to gather data from, max value as default.
Execution Window: Select how many bars (hours, days, or months) will be used to gather data from
🔹 Advanced Filters
Hours of day: Filter which hours of the day are excluded from the data, it accepts a list of hours from 0 to 23 separated by commas or spaces, users can not mix commas or spaces as a separator, must choose one
Days of week: Filter which days of the week are excluded from the data, it accepts a list of days from 1 to 5 for tickers not trading weekends, or from 1 to 7 for tickers trading all week, users can choose between commas or spaces as a separator, but can not mix them on the same filter.
Days of month: Filter which days of the month are excluded from the data, it accepts a list of days from 1 to 31, users can choose between commas or spaces as separator, but can not mix them on the same filter.
Months: Filter months to exclude from data. Accepts months from 1 to 12. Choose one separator: comma or space.
Years: Filter years to exclude from data. Accepts years from 1000 to 2999. Choose one separator: comma or space.
🔹 Dashboard
Dashboard Location: Select both the vertical and horizontal parameters for the desired location of the dashboard.
Dashboard Size: Select size for dashboard.
🔹 Style
High Probability Top Line: Enable/disable `High Probability Top` vertical line and choose color
High Probability Bottom Line: Enable/disable `High Probability Bottom` vertical line and choose color
Top Label: Enable/disable period top labels, choose color and size.
Bottom Label: Enable/disable period bottom labels, choose color and size.
Highlight Period Changes: Enable/disable vertical highlight at start of period
Multi-Timeframe Period Separators█ OVERVIEW
This indicator plots period separators for up to four higher timeframes. The separators are fully customizable and designed to work on any symbols.
█ FEATURES
Reference
You can choose to plot the separators starting from midnight 00:00 or the opening of the exchange trading session.
Timezone
You can specify to localize midnight 00:00 to the region of your liking. The timezone format conveniently requires no manual adjustment during clock changes.
█ NOTES
Scans the bar opening and closing times
The script checks the bar ` time ` and ` time_close ` to pinpoint the separators that can occur intrabar.
Tracks from the last separator
The script tracks the time elapsed since the last separator, which is useful when there is no trading activity or the market is closed. As it can result in missing bars, it plots the separator on the first available bar.
Others
The script automatically hides the separators when navigating to an equal or higher chart timeframe.
Bg color with 5 Date and 3 Time each by nitesh Bg color with 5 Date and 3Time each by nitesh this indicator will plot background color on the chart on your selected date and time spaan it hase three time spaan you can select time according to your need i have created this indicator to backtest time based price movments may this be helpful to you too (jai shree ram)
Pulse DPO: Major Cycle Tops and Bottoms█ OVERVIEW
Pulse DPO is an oscillator designed to highlight Major Cycle Tops and Bottoms .
It works on any market driven by cycles. It operates by removing the short-term noise from the price action and focuses on the market's cyclical nature.
This indicator uses a Normalized version of the Detrended Price Oscillator (DPO) on a 0-100 scale, making it easier to identify major tops and bottoms.
Credit: The DPO was first developed by William Blau in 1991.
█ HOW TO READ IT
Pulse DPO oscillates in the range between 0 and 100. A value in the upper section signals an OverBought (OB) condition, while a value in the lower section signals an OverSold (OS) condition.
Generally, the triggering of OB and OS conditions don't necessarily translate into swing tops and bottoms, but rather suggest caution on approaching a market that might be overextended.
Nevertheless, this indicator has been customized to trigger the signal only during remarkable top and bottom events.
I suggest using it on the Daily Time Frame , but you're free to experiment with this indicator on other time frames.
The indicator has Built-in Alerts to signal the crossing of the Thresholds. Please don't act on an isolated signal, but rather integrate it to work in conjunction with the indicators present in your Trading Plan.
█ OB SIGNAL ON: ENTERING OVERBOUGHT CONDITION
When Pulse DPO crosses Above the Top Threshold it Triggers ON the OB signal. At this point the oscillator line shifts to OB color.
When Pulse DPO enters the OB Zone, please beware! In this Area the Major Players usually become Active Sellers to the Public. While the OB signal is On, it might be wise to Consider Selling a portion or the whole Long Position.
Please note that even though this indicator aims to focus on major tops and bottoms, a strong trending market might trigger the OB signal and stay with it for a long time. That's especially true on young markets and on bubble-mode markets.
█ OB SIGNAL OFF: EXITING OVERBOUGHT CONDITION
When Pulse DPO crosses Below the Top Threshold it Triggers OFF the OB signal. At this point the oscillator line shifts to its normal color.
When Pulse DPO exits the OB Zone, please beware because a Major Top might just have occurred. In this Area the Major Players usually become Aggressive Sellers. They might wind up any remaining Long Positions and Open new Short Positions.
This might be a good area to Open Shorts or to Close/Reverse any remaining Long Position. Whatever you choose to do, it's usually best to act quickly because the market is prone to enter into panic mode.
█ OS SIGNAL ON: ENTERING OVERSOLD CONDITION
When Pulse DPO crosses Below the Bottom Threshold it Triggers ON the OS signal. At this point the oscillator line shifts to OS color.
When Pulse DPO enters the OS Zone, please beware because in this Area the Major Players usually become Active Buyers accumulating Long Positions from the desperate Public.
While the OS signal is On, it might be wise to Consider becoming a Buyer or to implement a Dollar-Cost Averaging (DCA) Strategy to build a Long Position towards the next Cycle. In contrast to the tops, the OS state usually takes longer to resolve a major bottom.
█ OS SIGNAL OFF: EXITING OVERSOLD CONDITION
When Pulse DPO crosses Above the Bottom Threshold it Triggers OFF the OS signal. At this point the oscillator line shifts to its normal color.
When Pulse DPO exits the OS Zone, please beware because a Major Bottom might already be in place. In this Area the Major Players become Aggresive Buyers. They might wind up any remaining Short Positions and Open new Long Positions.
This might be a good area to Open Longs or to Close/Reverse any remaining Short Positions.
█ WHY WOULD YOU BE INTERESTED IN THIS INDICATOR?
This indicator is built over a solid foundation capable of signaling Major Cycle Tops and Bottoms across many markets. Let's see some examples:
Early Bitcoin Years: From 0 to 1242
This chart is in logarithmic mode in order to properly display various exponential cycles. Pulse DPO is properly signaling the major early highs from 9-Jun-2011 at 31.50, to the next one on 9-Apr-2013 at 240 and the epic top from 29-Nov-2013 at 1242.
Due to the massive price movements, the OB condition stays pinned during most of the exponential price action. But as you can see, the OB condition quickly vanishes once the Cycle Top has been reached. As the market matures, the OB condition becomes more exceptional and triggers much closer from the Cycle Top.
With regards to Cycle Bottoms, the early bottom of 2 after having peaked at 31.50 doesn’t get captured by the indicator. That is the only cycle bottom that escapes the Pulse DPO when the bottom threshold is set at a value of 5. In that event, the oscillator low reached 6.95.
Bitcoin Adoption Spreading: From 257 to 73k
This chart is in logarithmic mode in order to properly display various exponential cycles. Pulse DPO is properly signaling all the major highs from 17-Dec-2017 at 19k, to the next one on 14-Apr-2021 at 64k and the most recent top from 9-Nov-2021 at 68k.
During the massive run of 2017, the OB condition still stayed triggered for a few weeks on each swing top. But on the next cycles it started to signal only for a few days before each swing top actually happened. The OB condition during the last cycle top triggered only for 3 days. Therefore the signal grows in focus as the market matures.
At the time of publishing this indicator, Bitcoin printed a new All Time High (ATH) on 13-Mar-2024 at 73k. That run didn’t trigger the OB condition. Therefore, if the indicator is correct the Bitcoin market still has some way to grow during the next months.
With regards to Cycle Bottoms, the bottom of 3k after having peaked at19k got captured within the wide OS zone. The bottom of 15k after having peaked at 68k got captured too within the OS accumulation area.
Gold
Pulse DPO behaves surprisingly well on a long standing market such as Gold. Moving back to the 197x years it’s been signaling most Cycle Tops and Bottoms with precision. During the last cycle, it shows topping at 2k and bottoming at 1.6k.
The current price action is signaling OB condition in the range of 2.5k to 2.7k. Looking at past cycles, it tends to trigger on and off at multiple swing tops until reaching the final cycle top. Therefore this might indicate the first wave within a potential gold run.
Oil
On the Oil market, we can see that most of the cycle tops and bottoms since the 80s got signaled. The only exception being the low from 2020 which didn’t trigger.
EURUSD
On Forex markets the Pulse DPO also behaves as expected. Looking back at EURUSD we can see the marketing triggering OB and OS conditions during major cycle tops and bottoms from recent times until the 80s.
S&P 500
On the S&P 500 the Pulse DPO catched the lows from 2016 and 2020. Looking at present price action, the recent ATH didn’t trigger the OB condition. Therefore, the indicator is allowing room for another leg up during the next months.
Amazon
On the Amazon chart the Pulse DPO is mirroring pretty accurately the major swings. Scrolling back to the early 2000s, this chart resembles early exponential swings in the crypto space.
Tesla
Moving onto a younger tech stock, Pulse DPO captures pretty accurately the major tops and bottoms. The chart is shown in logarithmic scale to better display the magnitude of the moves.
█ SETTINGS
This indicator is ideal for identifying major market turning points while filtering out short-term noise. You are free to adjust the parameters to align with your preferred trading style.
Parameters : This section allows you to customize any of the Parameters that shape the Oscillator.
Oscillator Length: Defines the period for calculating the Oscillator.
Offset: Shifts the oscillator calculation by a certain number of periods, which is typically half the Oscillator Length.
Lookback Period: Specifies how many bars to look back to find tops and bottoms for normalization.
Smoothing Length: Determines the length of the moving average used to smooth the oscillator.
Thresholds : This section allows you to customize the Thresholds that trigger the OB and OS conditions.
Top: Defines the value of the Top Threshold.
Bottom: Defines the value of the Bottom Threshold.
2024 - Median High-Low % Change - Monthly, Weekly, DailyDescription:
This indicator provides a statistical overview of Bitcoin's volatility by displaying the median high-to-low percentage changes for monthly, weekly, and daily timeframes. It allows traders to visualize typical price fluctuations within each period, supporting range and volatility-based trading strategies.
How It Works:
Calculation of High-Low % Change: For each selected timeframe (monthly, weekly, and daily), the script calculates the percentage change from the high to the low price within the period.
Median Calculation: The median of these high-to-low changes is determined for each timeframe, offering a robust central measure that minimizes the impact of extreme price swings.
Table Display: At the end of the chart, the script displays a table in the top-right corner with the median values for each selected timeframe. This table is updated dynamically to show the latest data.
Usage Notes:
This script includes input options to toggle the visibility of each timeframe (monthly, weekly, and daily) in the table.
Designed to be used with Bitcoin on daily and higher timeframes for accurate statistical insights.
Ideal for traders looking to understand Bitcoin's typical volatility and adjust their strategies accordingly.
This indicator does not provide specific buy or sell signals but serves as an analytical tool for understanding volatility patterns.
Global OECD CLI Diffusion Index YoY vs MoMThe Global OECD Composite Leading Indicators (CLI) Diffusion Index is used to gauge the health and directional momentum of the global economy and anticipate changes in economic conditions. It usually leads turning points in the economy by 6 - 9 months.
How to read: Above 50% signals economic expansion across the included countries. Below 50% signals economic contraction.
The diffusion index component specifically shows the proportion of countries with positive economic growth signals compared to those with negative or neutral signals.
The OECD CLI aggregates data from several leading economic indicators including order books, building permits, and consumer and business sentiment. It tracks the economic momentum and turning points in the business cycle across 38 OECD member countries and several other Non-OECD member countries.
Trend Continuation RatioThis TradingView indicator calculates the likelihood of consecutive bullish or bearish days over a specified period, giving insights into day-to-day continuation patterns within the market.
How It Works
Period Length Input:
The user sets the period length (e.g., 20 days) to analyze.
After each period, the counts reset, allowing fresh data for each new interval.
Bullish and Bearish Day Definitions:
A day is considered bullish if the closing price is higher than the opening price.
A day is considered bearish if the closing price is lower than the opening price.
Count Tracking:
Within each specified period, the indicator tracks:
Total Bullish Days: The number of days where the close is greater than the open.
Total Bearish Days: The number of days where the close is less than the open.
Bullish to Bullish Continuations: Counts each instance where a bullish day is followed by another bullish day.
Bearish to Bearish Continuations: Counts each instance where a bearish day is followed by another bearish day.
Calculating Continuation Ratios:
The Bullish Continuation Ratio is calculated as the percentage of bullish days that were followed by another bullish day:
Bullish Continuation Ratio = (Bullish to Bullish Continuations /Total Bullish Days)×100
Bullish Continuation Ratio=( Total Bullish Days/Bullish to Bullish Continuations )×100
The Bearish Continuation Ratio is the percentage of bearish days followed by another bearish day:
Bearish Continuation Ratio = (Bearish to Bearish Continuations/Total Bearish Days)×100
Bearish Continuation Ratio=( Total Bearish Days/Bearish to Bearish Continuations )×100
Display on Chart:
The indicator displays a table in the top-right corner of the chart with:
Bullish Continuation Ratio (%): Percentage of bullish days that led to another bullish day within the period.
Bearish Continuation Ratio (%): Percentage of bearish days that led to another bearish day within the period.
Usage Insights
High Ratios: If the bullish or bearish continuation ratio is high, it suggests a trend where bullish/bearish days often lead to similar days, indicating possible momentum.
Low Ratios: Low continuation ratios indicate frequent reversals, which could suggest a range-bound or volatile market.
This indicator is helpful for assessing short-term trend continuation tendencies, allowing traders to gauge whether they are more likely to see follow-through on bullish or bearish days within a chosen timeframe.
Average Up and Down Candles Streak with Predicted Next CandleThis indicator is designed to analyze price trends by examining the patterns of up and down streaks (consecutive bullish or bearish candles) over a defined period. It uses this data to provide insights on whether the next candle is likely to be bullish or bearish, and it visually displays relevant information on the chart.
Here’s a breakdown of what the indicator does:
1. Inputs and Parameters
Period (Candles): Defines the number of candles used to calculate the average length of bullish and bearish streaks. For example, if the period is set to 20, the indicator will analyze the past 20 candles to determine average up and down streak lengths.
Bullish/Bearish Bias Signal Toggle: These options allow users to show or hide visual signals (green or red circles) when there’s a bullish or bearish bias in the trend based on the indicator’s calculations.
2. Streak Calculation
The indicator looks at each candle within the period to identify if it closed up (bullish) or down (bearish).
Up Streak: The indicator counts consecutive bullish candles. When there’s a bearish candle, it resets the up streak count.
Down Streak: Similarly, it counts consecutive bearish candles and resets when a bullish candle appears.
Averages: Over the defined period, the indicator calculates the average length of up streaks and average length of down streaks. This provides a baseline to assess whether the current streak is typical or extended.
3. Current and Average Streak Display
The indicator displays the current up and down streak lengths alongside the average streak lengths for comparison. This data appears in a table on the chart, allowing you to see at a glance:
The current streak length (for both up and down trends)
The average streak length for up and down trends over the chosen period
4. Trend Prediction for the Next Candle
Next Candle Prediction: Based on the current streak and its comparison to the average, the indicator predicts the likely direction of the next candle:
Bullish: If the current up streak is shorter than the average up streak, suggesting that the bullish trend could continue.
Bearish: If the current down streak is shorter than the average down streak, indicating that the bearish trend may continue.
Neutral: If the current streak length is near the average, which could signal an upcoming reversal.
This prediction appears in a table on the chart, labeled as “Next Candle.”
5. Previous Candle Analysis
The Previous Candle entry in the table reflects the last completed candle (directly before the current candle) to show whether it was bullish, bearish, or neutral.
This data gives a reference point for recent price action and helps validate the next candle prediction.
6. Visual Signals and Reversal Zones
Bullish/Bearish Bias Signals: The indicator can plot green circles on bullish bias and red circles on bearish bias to highlight points where the trend is likely to continue.
Reversal Zones: If the current streak length reaches or exceeds the average, it suggests the trend may be overextended, indicating a potential reversal zone. The indicator highlights these zones with shaded backgrounds (green for possible bullish reversal, red for bearish) on the chart.
Summary of What You See on the Chart
Bullish and Bearish Bias Signals: Green or red circles mark areas of expected continuation in the trend.
Reversal Zones: Shaded areas in red or green suggest that the trend might be about to reverse.
Tables:
The Next Candle prediction table displays the trend direction of the previous candle and the likely trend of the next candle.
The Streak Information table shows the current up and down streak lengths, along with their averages for easy comparison.
Practical Use
This indicator is helpful for traders aiming to understand trend momentum and potential reversals based on historical patterns. It’s particularly useful for swing trading, where knowing the typical length of bullish or bearish trends can help in timing entries and exits.
Price Move Exceed % Threshold & BE Evaluation1Handy to see history or quick back test of moves. Enter a decimal for percentage wanted and choose the time frame wanted . The occurrences of the up or down threshold are plotted in the panel as maroon or green squares and can be read as red or green text in the panel data and on the right hand scale . The last number in the panel is the average move for the chosen period.
My usage is mostly to see what % has been exceeded for break even prices of option trades. Example: in SPY a spread has a break even of 567 when the price is 570; I get the percentage of the $3 move by dividing 3/570 to get 0.0526 ; the results show as described above.
Globex Trap ZoneGlobex Trap Indicator
A powerful tool designed to identify potential trading opportunities by analyzing the relationship between Globex session ranges and Supply & Demand zones during regular trading hours.
Key Features
Tracks and visualizes Globex session price ranges
Identifies key Supply & Demand zones during regular trading hours
Highlights potential trap areas where price might experience significant reactions
Fully customizable time ranges and visual settings
Clear labeling of Globex highs and lows
How It Works
The indicator tracks two key periods:
Globex Session (Default: 6:00 PM - 9:30 AM)
Monitors overnight price action
Marks session high and low
Helps identify potential range breakouts
Supply & Demand Zone (Default: 8:00 AM - 11:00 AM)
Tracks price action during key market hours
Identifies potential reaction zones
Helps spot institutional trading areas
Best Practices for Using This Indicator
Use on 1-hour timeframe or lower for optimal visualization
Best suited for futures and other instruments traded during Globex sessions
Pay attention to areas where Globex range and Supply/Demand zones overlap
Use in conjunction with your existing trading strategy for confirmation
Recommended minimum of 10 days of historical data for context
Settings Explanation
Globex Session: Customizable time range for overnight trading session
Supply & Demand Zone: Adjustable time range for regular trading hours
Days to Look Back: Number of historical days to display (default: 10)
Visual Settings: Customizable colors and transparency for both zones
Important Notes
All times are based on exchange timezone
The indicator respects overnight sessions and properly handles timezone transitions
Historical data requirements: Minimum 10 days recommended
Performance impact: Optimized for smooth operation with minimal resource usage
Disclaimer
Past performance is not indicative of future results. This indicator is designed to be used as part of a comprehensive trading strategy and should not be relied upon as the sole basis for trading decisions.
Updates and Support
I actively maintain this indicator and welcome feedback from the trading community. Please feel free to leave comments or suggestions for improvements.
Ido strategy RSI Oversold with MACD Buy Signal Indicator
This indicator combines the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) to help identify potential buy signals based on oversold conditions and trend reversals. This script is designed for traders looking to identify entry points when an asset is likely undervalued (oversold) and showing bullish momentum.
How It Works
RSI Oversold Detection: The RSI measures the speed and change of price movements. This indicator flags when the RSI falls below 30, signaling that the asset may be oversold. The user can customize the RSI lookback period and the timeframe within which oversold conditions are considered relevant.
MACD Crossover: The MACD line crossing above the Signal line often indicates a shift to bullish momentum. In this script, a buy signal is generated when a MACD bullish crossover occurs after an RSI oversold condition has been met within a user-defined lookback window.
Buy Signal: A green triangle appears below the price chart each time both conditions are met—when the RSI has recently been in oversold territory and the MACD line crosses above the Signal line. This signal suggests that the asset may be positioned for a potential upward trend, providing a visual cue for entry points.
Customizable Settings
RSI Settings: Adjust the RSI source and period length.
MACD Settings: Customize the fast, slow, and signal lengths of the MACD to suit different market conditions.
Lookback Period: Define how many bars back to check for an RSI oversold condition before confirming a MACD crossover.
Visual Elements
Oversold Background Color: The background on the price chart is shaded red whenever the RSI is below 30.
Buy Signal: A green triangle is displayed on the chart to indicate a potential entry point when both conditions are met.
Alerts
This indicator includes optional alerts, allowing traders to receive notifications whenever the conditions for a buy signal are met, making it easier to monitor multiple assets and stay informed of trading opportunities.
This indicator is ideal for traders using a combination of momentum and trend reversal strategies, especially in volatile markets where oversold conditions often precede a trend change.
Williams %R - Multi TimeframeThis indicator implements the William %R multi-timeframe. On the 1H chart, the curves for 1H (with signal), 4H, and 1D are displayed. On the 4H chart, the curves for 4H (with signal) and 1D are shown. On all other timeframes, only the %R and signal are displayed. The indicator is useful to use on 1H and 4H charts to find confluence among the different curves and identify better entries based on their alignment across all timeframes. Signals above 80 often indicate a potential bearish reversal in price, while signals below 20 often suggest a bullish price reversal.
Zig Zag with Adaptive ProjectionThe "Zig Zag with Adaptive Projection" is an advanced technical analysis tool designed for TradingView's Pine Script platform. This indicator builds upon the traditional ZigZag concept by incorporating adaptive projection capabilities, offering traders a more sophisticated approach to identifying significant price movements and forecasting potential future price levels.
At its core, the indicator utilizes a user-defined period to calculate and display the ZigZag pattern on the chart. This pattern connects significant highs and lows, effectively filtering out minor price fluctuations and highlighting the overall trend structure. Users can customize the appearance of the ZigZag lines, including their color, style (solid, dashed, or dotted), and width, allowing for easy visual integration with other chart elements.
What sets this indicator apart is its adaptive projection feature. By analyzing historical ZigZag patterns, the indicator calculates average lengths and slopes of both bullish and bearish trends. This data is then used to project potential future price movements, adapting to the current market context. The projection lines extend from the most recent ZigZag point, offering traders a visual representation of possible price targets based on historical behavior.
The adaptive nature of the projections is particularly noteworthy. The indicator considers the current trend direction, the length of the most recent ZigZag segment, and compares it to historical averages. This approach allows for more nuanced projections that account for recent market dynamics. If the current trend is stronger than average, the projection will extend further, and vice versa.
From a technical standpoint, the indicator leverages Pine Script v5's capabilities, utilizing arrays for efficient data management and implementing dynamic line drawing for both the ZigZag and projection lines. This ensures smooth performance even when analyzing large datasets.
Traders can fine-tune the indicator to their preferences with several customization options. The ZigZag period can be adjusted from 10 to 100, allowing for sensitivity adjustments to match different trading timeframes. The projection lines can be toggled on or off and their appearance customized, providing flexibility in how the forecast is displayed.
In essence, the "Zig Zag with Adaptive Projection" indicator combines traditional trend analysis with forward-looking projections. It offers traders a tool to not only identify significant price levels but also to anticipate potential future movements based on historical patterns. This blend of retrospective analysis and adaptive forecasting makes it a valuable addition to a trader's technical analysis toolkit, particularly for those interested in trend-following strategies or looking for potential reversal points.
Polygonal Pivot Bands [FXSMARTLAB]The Polygonal Pivot Bands highlights key price pivots, dynamic support and resistance levels, and recent price action on a trading chart. This indicator connects pivot highs and lows with a zigzag line, extends a real-time dashed line to the latest price point, and plots diagonal support/resistance levels that adapt to price movement. These elements together provide traders with a view of significant price zones and potential trend shifts.
Key Components of the Indicator
Pivots are calculated based on user-defined lengths, specifying how many bars on either side of a high or low are required to validate it as a pivot.
Adjustable left and right pivot lengths allow traders to control the sensitivity of pivot detection, with higher values resulting in fewer, more prominent pivots, and lower values increasing sensitivity to price changes.
Zigzag Line
The zigzag line connects consecutive pivot points, filtering out smaller fluctuations and emphasizing the broader direction of price movement.
Users can customize the line's color and thickness to match their preferences, helping them focus on larger trends and potential reversal points.
By linking pivot highs and lows, the zigzag pattern highlights the overall trend and potential points of reversal.
Real-Time Connector Line
A dashed line extends from the last confirmed pivot to the latest price point, providing a real-time, bar-by-bar update of the current price relative to the previous pivot.
This line does not project future price direction but maintains an up-to-date connection with the current price, showing the distance from the last pivot.
Its color and thickness are customizable for improved visibility on the chart.
Dynamic Support and Resistance Levels
The indicator plots dynamic support and resistanc e levels by connecting recent pivot highs and lows, resulting in lines that may appear diagonal rather than strictly horizontal.
These levels move in line with price action, adapting to the natural direction of trends, and offer visual cues where price may encounter support or resistance.
Colors and thickness of these lines can be set individually, allowing traders to adjust visibility according to their preferences.
Enabling these lines gives traders an ongoing reference for critical price boundaries that align more closely with the overall trend.
Gradient color Candlesthis is a simple candle colouring script that sets the colour of the candles to a gradient and the length of the gradient can be set by a user defined number of bars
SW Gann Pressure time from tops and bottomsW.D. Gann's trading techniques often emphasized the significance of time in the markets, believing that specific time intervals could influence price movements. Here’s how the 30, 60, 90, 120, 180, and 270 bar intervals relate to Gann's rules:
1. **30 Bars**:
- Gann often viewed shorter time frames as critical for identifying short-term trends. A 30-bar interval can signify minor cycles or potential turning points in price.
2. **60 Bars**:
- This interval is significant as Gann believed in the importance of quarterly cycles. A 60-bar mark could indicate a completion of a two-month cycle, often leading to retracements or reversals.
3. **90 Bars**:
- Gann considered 90 days (or bars) to represent a quarter. This interval can signify a substantial shift in market sentiment or a pivotal point in a longer trend.
4. **120 Bars**:
- The 120-bar mark corresponds to about four months. Gann viewed longer intervals as more significant, often leading to major shifts in market trends.
5. **180 Bars**:
- A 180-bar period relates to a semi-annual cycle, which Gann regarded as critical for major support and resistance levels. Price action around this interval can reveal potential long-term trend reversals.
6. **270 Bars**:
- Gann believed that longer cycles, such as 270 bars (approximately nine months), could indicate significant market phases. This interval may represent major turning points and help identify long-term trends.
### Application in Trading:
- **Identifying Trends**: Traders can use these intervals to spot potential trend reversals or continuations based on Gann’s principles of market cycles.
- **Setting Targets and Stops**: Knowing where these key bars fall can help in setting profit targets and stop-loss orders.
- **Analyzing Market Sentiment**: Price reactions at these intervals can provide insights into market psychology and sentiment shifts.
By marking these intervals on a chart, traders can visually assess when price action aligns with Gann's theories, helping them make more informed trading decisions based on historical patterns and cycles.
SW Gann DaysGann pressure days, named after the famous trader W.D. Gann, refer to specific days in a trading month that are believed to have significant market influence. These days are identified based on Gann's theories of astrology, geometry, and market cycles. Here’s a general outline of how they might be understood:
1. **Market Cycles**: Gann believed that markets move in cycles and that certain days can have heightened volatility or trend changes. Traders look for specific dates based on historical price movements.
2. **Timing Indicators**: Pressure days often align with key economic reports, earnings announcements, or geopolitical events that can cause price swings.
3. **Mathematical Patterns**: Gann used angles and geometric patterns to predict price movements, with pressure days potentially aligning with these calculations.
4. **Historical Patterns**: Traders analyze past data to identify dates that historically show strong price reactions, using this to predict future behavior.
5. **Astrological Influences**: Some practitioners incorporate astrological elements, believing that celestial events (like full moons or planetary alignments) can impact market psychology.
Traders might use these concepts to make decisions about entering or exiting positions, but it’s important to note that Gann's methods can be complex and are not universally accepted in trading communities.
Forex Relative Strength MatrixTraders often feel uncertain about which Forex pair to open a position with. This indicator is designed to help in that regard.
This indicator was created as described in the book Swing Trading with Heiken Ashi and Stochastics. In the original, the author suggests using it for swing trading. The author recommends applying it to a monthly chart with an 8-period moving average to analyze the context.
The logic of the indicator is to measure the relative strength of each currency by checking if the price of each Forex pair is above or below a chosen moving average. If the price is above the moving average, the base currency is awarded 1 point, indicating strength. If below, it scores 0, indicating weakness. By accumulating points across multiple pairs, the indicator ranks currencies from strongest to weakest, helping traders identify potential pairs for trading.
Trend Identification:
After identifying relative strength, the trader should observe the general trend using a 100-period SMA on 4-hour charts. If the price is above the SMA, the trend is bullish; if below, it is bearish.
Buy Logic:
A buy is triggered when the base currency is strong (price is above the moving average) and the quote currency is weak (price is below the moving average). After identifying the trend direction, the entry is confirmed by a color change in Heiken Ashi candles (from red to green in an uptrend) and a stochastic crossover in the trend’s direction.
Sell Logic:
A sell is triggered when the base currency is weak (price is below the moving average) and the quote currency is strong (price is above the moving average). The sell entry is confirmed by a color change in Heiken Ashi candles (from green to red in a downtrend) and a stochastic crossover aligned with the trend.
Entry Chart:
The entry chart used is the 4-hour chart. The trader should look for entry signals following a pullback in the trend direction, using Heiken Ashi candles. Entry is made when the Heiken Ashi candles change color (from red to green in an uptrend) and there is a smooth crossover of the stochastic indicator in the trend’s direction.
It would also be possible to adapt the indicator for day trading strategies with targets of 1 to 2 days. Here is a recommended setup:
Relative Strength Identification (1-Hour Chart):
Instead of monthly charts, use a 1-hour chart to identify currency strength with a 20-period moving average.
The 20-period moving average on the 1-hour chart captures a balanced view of short- to medium-term direction, covering nearly a day’s worth of trading but with enough sensitivity for day trading.
General Trend (5-Minute Chart with 100 SMA):
On the 5-minute chart, observe the 100-period SMA to identify the general trend direction throughout the day.
Price above the 100 SMA indicates an uptrend, and below indicates a downtrend, confirming the movement in shorter timeframes.
Entry Chart and Signals (5-Minute Chart):
Use the 15-minute chart to look for entry opportunities, focusing on pullbacks in the main trend direction.
Entry Signals: Enter the position when Heiken Ashi candles change color in the trend direction (from red to green in an uptrend) and the stochastic indicator makes a smooth crossover in the trend’s direction.
Hodrick-Prescott Cycle Component (YavuzAkbay)The Hodrick-Prescott Cycle Component indicator in Pine Script™ is an advanced tool that helps traders isolate and analyze the cyclical deviations in asset prices from their underlying trend. This script calculates the cycle component of the price series using the Hodrick-Prescott (HP) filter, allowing traders to observe and interpret the short-term price movements around the long-term trend. By providing two views—Percentage and Price Difference—this indicator gives flexibility in how these cyclical movements are visualized and interpreted.
What This Script Does
This indicator focuses exclusively on the cycle component of the price, which is the deviation of the current price from the long-term trend calculated by the HP filter. This deviation (or "cycle") is what traders analyze for mean-reversion opportunities and overbought/oversold conditions. The script allows users to see this deviation in two ways:
Percentage Difference: Shows the deviation as a percentage of the trend, giving a normalized view of the price’s distance from its trend component.
Price Difference: Shows the deviation in absolute price terms, reflecting how many price units the price is above or below the trend.
How It Works
Trend Component Calculation with the HP Filter: Using the HP filter, the script isolates the trend component of the price. The smoothness of this trend is controlled by the smoothness parameter (λ), which can be adjusted by the user. A higher λ value results in a smoother trend, while a lower λ value makes it more responsive to short-term changes.
Cycle Component Calculation: Percentage Deviation (cycle_pct) calculated as the difference between the current price and the trend, divided by the trend, and then multiplied by 100. This metric shows how far the price deviates from the trend in relative terms. Price Difference (cycle_price) simply the difference between the current price and the trend component, displaying the deviation in absolute price units.
Conditional Plotting: The user can choose to view the cycle component as either a percentage or a price difference by selecting the Display Mode input. The indicator will plot the chosen mode in a separate pane, helping traders focus on the preferred measure of deviation.
How to Use This Indicator
Identify Overbought/Oversold Conditions: When the cycle component deviates significantly from the zero line (shown with a dashed horizontal line), it may indicate overbought or oversold conditions. For instance, a high positive cycle component suggests the price may be overbought relative to the trend, while a large negative cycle suggests potential oversold conditions.
Mean-Reversion Strategy: In mean-reverting markets, traders can use this indicator to spot potential reversal points. For example, if the cycle component shows an extreme deviation from zero, it could signal that the price is likely to revert to the trend. This can help traders with entry and exit points when the asset is expected to correct back toward its trend.
Trend Strength and Cycle Analysis: By comparing the magnitude and duration of deviations, traders can gauge the strength of cycles and assess if a new trend might be forming. If the cycle component remains consistently positive or negative, it may indicate a persistent market bias, even as prices fluctuate around the trend.
Percentage vs. Price Difference Views: Use the Percentage Difference mode to standardize deviations and compare across assets or different timeframes. This is especially helpful when analyzing assets with varying price levels. Use the Price Difference mode when an absolute deviation (price units) is more intuitive for spotting overbought/oversold levels based on the asset’s actual price.
Using with Hodrick-Prescott: You can also use Hodrick-Prescott, another indicator that I have adapted to the Tradingview platform, to see the trend on the chart, and you can also use this indicator to see how far the price is deviating from the trend. This gives you a multifaceted perspective on your trades.
Practical Tips for Traders
Set the Smoothness Parameter (λ): Adjust the λ parameter to match your trading timeframe and asset characteristics. Lower values make the trend more sensitive, which might suit short-term trading, while higher values smooth out the trend for long-term analysis.
Cycle Component as Confirmation: Combine this indicator with other momentum or trend indicators for confirmation of overbought/oversold signals. For example, use the cycle component with RSI or MACD to validate the likelihood of mean-reversion.
Observe Divergences: Divergences between price movements and the cycle component can indicate potential reversals. If the price hits a new high, but the cycle component shows a smaller deviation than previous highs, it could signal a weakening trend.
Dual price forecast with Projection Zone [FXSMARTLAB]The Dual Price Forecast with Projection Zone indicator is built to simulate potential future price paths based on historical price movements over two defined lookback periods. By running multiple trials (or simulations) on these historical price movements, the indicator achieves a more robust forecast, incorporating the inherent variability of price behavior.
Key Components and Calculation Details
1. Lookback Periods and Historical Price Movements
Lookback Period 1 and Lookback Period 2 specify the range of past data used to generate each projection. For each period, the indicator calculates the price variations (differences between the closing and opening prices) and stores these in arrays.
These historical price variations capture the volatility and price patterns within each period, serving as templates for future price behavior.
2. Trials: Purpose and Function
The trials are a critical element in the projection calculation. Each trial represents a single simulation of possible future price movements, derived from a random reordering of the historical price variations in each lookback period.
By running multiple trials , the indicator explores various sequences of historical movements, simulating different possible future paths. Each trial adds to the projection’s robustness by capturing a unique potential price path based on past behavior.
Running these multiple trials allows the indicator to account for randomness in price behavior, making the projections more comprehensive by covering a range of scenarios rather than relying on a single deterministic forecast.
3. Reverse Option
The reverse option allows the indicator to invert the direction of price movements within each lookback period. When enabled, historical uptrends are treated as downtrends, and vice versa.
This feature is particularly valuable in scenarios where traders expect a potential reversal in market direction. By enabling the reverse option, the indicator can simulate what might happen if past trends inverted, providing an alternative forecast path that considers possible market reversals.
This allows traders to assess both continuation and reversal scenarios, giving them a more balanced view of potential future price paths and helping them prepare for either market direction.
4. Generating the Average Projection Path
Once the trials are complete, the indicator calculates an average projected price path for each lookback period by averaging the results of all trials. This average represents the most likely price trend based on historical data and provides a smoothed projection that mitigates extreme outliers.
By averaging across all trial paths, the indicator generates a more reliable and balanced forecast line, smoothing out the fluctuations that might appear if only one trial or a small number of trials were used.
5. Projection Zone Visualization
The indicator plots the two average projection paths (one for each lookback period) as Projection 1 and Projection 2, each in a user-defined color.
The Projection Zone is the area between these two lines, filled with a semi-transparent color. This zone visually represents the potential range of future price movement, highlighting where prices are likely to oscillate if historical trends persist.
The Projection Zone effectively functions as a potential support and resistance boundary, providing traders with a visual reference for possible price fluctuations within a specific range.
6. Display of Lookback Zones
To give context to the projections, the indicator can also display colored lookback zones on the chart. These zones correspond to Lookback Period 1 and Lookback Period 2 and are color-coded to match their respective projection lines.
These zones allow traders to see the sections of historical data used in the calculation, helping them understand which past price behaviors influenced the current projections.
Benefits of the Indicator
The "Dual Price Forecast with Projection Zone" indicator provides a multi-scenario forecast based on past price dynamics. Its use of trials ensures that projections are not based on a single deterministic path but on a range of possible scenarios that better reflect the inherent randomness in financial markets.
By generating a probabilistic forecast within a defined zone, the indicator helps traders to:
Anticipate potential price ranges and areas of support/resistance based on historical trends.
Understand the influence of different timeframes (short-term and long-term lookbacks) on future price behavior.
Make informed decisions by visualizing the likely variability of future prices within a controlled projection zone.
Prepare for both continuation and reversal scenarios, thanks to the reverse option. This feature is especially useful in markets where trends may change direction, as it allows traders to explore what might happen
MMRI Chart (Primary)The **Mannarino Market Risk Indicator (MMRI)** is a financial risk measurement tool created by financial strategist Gregory Mannarino. It’s designed to assess the risk level in the stock market and economy based on current bond market conditions and the strength of the U.S. dollar. The MMRI considers factors like the U.S. 10-Year Treasury Yield and the Dollar Index (DXY), which indicate investor confidence in government debt and the dollar's purchasing power, respectively.
The formula for MMRI uses the 10-Year Treasury Yield multiplied by the Dollar Index, divided by a constant (1.61) to normalize the risk measure. A higher MMRI score suggests increased market risk, while a lower score indicates more stability. Mannarino has set certain thresholds to interpret the MMRI score:
- **Below 100**: Low risk.
- **100–200**: Moderate risk.
- **200–300**: High risk.
- **Above 300**: Extreme risk, indicating market instability and potential downturns.
This tool aims to provide insight into economic conditions that may affect asset classes like stocks, bonds, and precious metals. Mannarino often updates MMRI scores and risk analyses in his public market updates.
