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Indicators and strategies

Probability ConesA probability cone is an indicator that forecasts a statistical distribution from a set point in time into the future. Features Forecast a Standard or Laplace distribution. Change the how many bars the cones will lookback and sample in their calculations. Set how many bars to forecast the cones. Let the cones follow price from a set number of bars back. Anchor the cones and they will not update from their last location. Show or hide any set of cones. Change the deviation used of any cone's upper or lower line. Change any line's color, style, or width. Change or toggle the fill colors between any two cone lines. Basic Interpretations First, there is an assumption that the distribution starting from the cone's origin, based on the number of historical bars sampled, is likely to represent the distribution of future price. Price typically hangs around the mean. About 68% of price stays within the first deviation cones. About 95% of price stays within the second deviation cones. About 99.7% of price stays within the third deviation cones. When price is between the first and second deviation cones, there is a higher probability for a reversal. However, strong momentum while above or below the first deviation can indicate a trend where price maintains itself past the first deviation. For this reason it's recommended to use a momentum indicator alongside the cones. There is no mean reversion assumption when price deviates. Price can continue to stay deviated. It's recommended that the cones are placed at the beginning of calendar periods. Like the month, week, or day. Be mindful when using the cones on various timeframes. As the lookback setting, which selects the number of bars back to load from the cone's origin, will load the number of bars back based on the current timeframe. Second Deviation Strategy How to react when price goes beyond the second deviation is contingent on your trading position. If you are holding a losing trade and price has moved past the second deviation, it could be time to stop trading and exit. If you are holding a winning trade and price has moved past the second deviation, it would be best to look at exit strategies to capitalize on the outperformance. If price has moved beyond the second deviation and you hold no position, then do not open any new trades.
Pine Script® indicator
by joebaus
63
Synthetic Price Action GeneratorNOTICE: First thing you need to know, it "DOES NOT" reflect the price of the ticker you will load it on. THIS IS NOT AN INDICATOR FOR TRADING! It's a developer tool solely generating random values that look exactly like the fractals we observe every single day. This script's generated candles are as fake as the never ending garbage news cycles we are often force fed and expected to believe by using carefully scripted narratives peddled as hypnotic truth to psychologically and emotionally influence you to the point of control by coercion and subjugation. I wanted to make the script's synthetic nature very clear using that analogy, it's dynamically artificial. Do not accidentally become disillusioned by this scripts values, make trading decisions from it, and lastly don't become victim to predatory media magic ministry parrots with pretty, handsome smiles, compelling you to board their ferris wheel of fear. Now, on to the good stuff... BACKSTORY: Occasionally I find myself in situations where I have to build analyzers in Pine to actually build novel quantitative analytic indicators and tools worthy of future use. These analyzers certainly don't exist on this platform, but usually are required to engineer and tweak algorithms of the highest quality with the finest computational caliber. I have numerous other synthesizers to publish besides this one. For many reasons, I needed a synthetic environment to utilize the analyzers I built in Pine, to even pursue building some exotic indicators and algorithms. Pine doesn't allow sourcing of tuples. Not to mention, I required numerous Pine advancements to make long held dreams into tangible realities. Many Pine upgrades have arrived and MANY, MANY more are in need of implementation for all. Now that I have this, intending to use it in the future often when in need, you can now use it too. I do anticipate some skilled Pine poets will employ this intended handy utility to design and/or improved indicators for trading. ORIGIN: This was inspired by the brilliance from the world renowned ALGOmist John F. Ehlers, but it's taken on a completely alien form from its original DNA. Browsing on the internet for something else, I came across an article with a small code snippet, and I remembered an old wish of mine. I have long known that by flipping back and forth on specific tickers and timeframes in my Watchlist is not the most efficient way to evaluate indicators in multiple theatres of price action. I realized, I always wanted to possess and use this sort of tool, so... I put it into Pine form, but now have decided to inject it with Pine Script steroids. The outcome is highly mutable candle formations in a reusable mutagenic package, observable above and masquerading as genuine looking price candles. OVERVIEW: I guess you could call it a price action synthesizer, but I entitled it "Synthetic Price Action Generator" for those who may be searching for such a thing. You may find this more useful on the All or 5Y charts initially to witness indication from beginning (barstate.isfirst === barindex==0) to end (last_bar_index), but you may also use keyboard shortcuts + + to view the earliest plottable bars on any timeframe. I often use that keyboard shortcut to qualify an indicator through the entirety of it's runtime. A lot can go wrong unexpectedly with indicator initialization, and you will never know it if you don't inspect it. Many recursively endowed Infinite Impulse Response (IIR) Filters can initialize with unintended results that minutely ring in slightly erroneous fashion for the entire runtime, beginning to end, causing deviations from "what should of been..." values with false signals. Looking closely at spg(), you will recognize that 3 EMAs are employed to manage and maintain randomness of CLOSE, HIGH, and LOW. In fact, any indicator's barindex==0 initialization can be inspected with the keyboard shortcuts above. If you see anything obviously strange in an authors indicator, please contact the developer if possible and respectfully notify them. PURPOSE: The primary intended application of this script, is to offer developers from advanced to even novice skill levels assistance with building next generation indicators. Mostly, it's purpose is for testing and troubleshooting indicators AND evaluating how they perform in a "manageable" randomized environment. Some times indicators flake out on rare but problematic price fluctuations, and this may help you with finding your issues/errata sooner than later. While the candles upon initial loading look pristine, by tweaking it to the minval/maxval parameters limits OR beyond with a few code modifications, you can generate unusual volatility, for instance... huge wicks. Limits of minval= and maxval= of are by default set to a comfort zone of operation. Massive wicks or candle bodies will undoubtedly affect your indication and often render them useless on tickers that exhibit that behavior, like WGMCF intraday currently. Copy/paste boundaries are provided for relevant insertion into another script. Paste placement should happen at the very top of a script. Note that by overwriting the close, open, high, etc... values, your compiler will give you generous warnings of "variable shadowing" in abundance, but this is an expected part of applying it to your novel script, no worries. plotcandle() can be copied over too and enabled/disabled in Settings->Style. Always remember to fully remove this scripts' code and those assignments properly before actual trading use of your script occurs, AND specifically when publishing. The entirety of this provided code should never, never exist in a published indicator. OTHER INTENTIONS: Even though these are 100% synthetic generated price points, you will notice ALL of the fractal pseudo-patterns that commonly exist in the markets, are naturally occurring with this generator too. You can also swiftly immerse yourself in pattern recognition exercises with increased efficiency in real time by clicking any SPAG Setting in focus and then using the up/down arrow keys. I hope I explained potential uses adequately... On a personal note, the existence of fractal symmetry often makes me wonder, do we truly live in a totality chaotic universe or is it ordered mathematically for some outcomes to a certain extent. I think both. My observations, it's a pre-deterministic reality completely influenced by infinitesimal amounts of sentient free will with unimaginable existing and emerging quantities. Some how an unknown mysterious mechanism governing the totality of universal physics and mathematics counts this 100.0% flawlessly and perpetually. Anyways, you can't change the past that long existed before your birth or even yesterday, but you can choose to dream, create, and forge the future into your desires and hopes. As always, shite always happens when your not looking for it. What you choose to do after stepping in it unintentionally... is totally up to you. :) Maybe this tool and tips provided will aid you in not stepping in an algo cachucha up to your ankles somehow. SCRIPTING LESSONS PORTRAYED IN THIS SCRIPT: Pine etiquette and code cleanliness Overwrite capabilities of built-in Pine variables for testing indicators Various techniques to organize Settings panel while providing ease of adjustment utility Use of tooltip= to provide users adequate valuable information. Most people want to trade with indicators, not blindly make adjustments to them without any knowledge of their intended operation/effects When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members , I may implement more ideas when they present themselves as worthy additions. Have a profitable future everyone!
Pine Script® indicator
by ImmortalFreedom
18
Manual Harmonic Patterns - With interactive inputsThis script is a drawing tool which allows users to draw XABCD on the chart and script will tell whether there is any harmonic patterns on the drawings made. The script is based on interactive inputs and requires users to chose XABCD points. Please note This is not a scanner and it will not scan historical bars for harmonic patterns. This needs to be used rather as drawing tool instead. Script will not check if selected pivots are correct. It assumes users to know how to select the right XABCD based on pivot high/lows. Bullish pattern will have X, B and D as pivot lows and A,C as pivot highs. Similarly bearish patterns will have X, B, D as pivot highs and A, C as pivot lows. Script will not check for overflow conditions. For example, if price crosses, XB or BD line, then pattern is considered to be invalid. But, this check cannot be made in this script and we require users to be aware of this condition and select input accordingly. Order of inputs should be in ascending order. X pivot should come before A and then, B, C, D and F. This again is users responsibility to select pivots in right order. What happens after selecting XABCD? If selected pattern is valid harmonic pattern, it will Draw XABCD lines and labels Fill harmonic triangles Show PRZ box which shoes the name of valid patterns. If it is not valid harmonic pattern, then users will see blank XABCD line without any PRZ or filled harmonic triangles. Example: 1. When it is valid pattern 2. When it is not valid pattern
Pine Script® indicator
by Trendoscope
45
Median Convergence DivergenceIntroduction The Median Convergence Divergence (MCD) is a derivative of the Moving Average Convergence Divergence (MACD). The difference is the change in the use of the measure of central tendency. In MACD, moving average (mean) is used, whereas, in MCD, the median is used instead. The purpose of using the median is to eliminate the outlying values, which would be calculated for a moving average. The outliers would affect the value of the moving average. For example: 3, 5, 7, 8, 5, 4, 2, 1, 6, 21, 8. The data set average is 6.3, whereas the median value is 5. There is a difference of about 23% in the example. The reason is the outlying value '21' in the data set. As the markets are volatile, outlying values can always emerge. A moving average will consider those values; on the other hand, the median will ignore. If the strategy calls for a tool to ignore the outliers, the Median Convergence Divergence would be a great centered oscillator. The default values have changed to suit the current trading days in a week. When the MACD was introduced, there would be six trading days in a week. Therefore, it used 12 (2 weeks), 26(4 weeks), and 9 ( 1.5 weeks). But now that there are five trading days per week. The default values are adapted to them. Feel free to change them as per your wish. Recommended Settings The current settings are set to be used for the Daily Time Frame: 5 day period for the fast line, a 20 day period for the slow line, and a 10 day period for the signal line. (5 days represent a trading week, 10 days is two weeks, and 20 days is 4 weeks or a month) For the weekly charts, use 4 week period for the fast line, 13 week period for the slow line, and 8 week period for the signal line. (4 weeks represent a month, 8 weeks is two months, and 13 weeks is 3 months or quarterly) And for monthly charts, use 3 month period for the fast line, 12 month period for the slow line, and 6 month period for the signal line. (3 months is quarterly, 6 months is bi-yearly, and 12 month is yearly) It'll be challenging to measure for intraday since there are many different timeframes within intraday. The settings mentioned above should also be customized as per the requirements of the trading strategy. Strategy The strategy application is the same as the MACD, i.e., Signal Line Crossovers, Zero Line Crossovers, and Divergence. Signal Line Crossovers: When the MCD line crosses above the Signal line, it's a bullish crossover. When the MCD line crosses below the Signal line, it's a bearish crossover. Zero Line Crossovers: It's a bullish crossover when the MCD line crosses above the Zero line. When the MCD line crosses below the Zero Line, it's a bearish crossover. Divergence: When price shows a lower low, but MCD shows a higher low, it's a bullish divergence. When the price shows a higher high but MCD shows a lower high, it's a bearish divergence. Using other indicators in conjunction with the Median Convergence Divergence is recommended to take entry and exit signals.
Pine Script® indicator
by maksumit
18
Head & Shoulders S/R RegularThis is my take in Head & Shoulders (regular H&S) The script will wait until a valid point E is found, which means A, C and E are alined Then it will find the highest point between C - E -> Head (= D), together with the highest point between A - C -> Left Shoulder (= B) After this, the pattern is drawn, together with a 'trigger' area (E-G - E'-G' ~ 'Right shoulder area') ONLY in this field, when a close is higher than E'-G', the figure will turn green, if lower than E-G, it will turn red, else, it will be blue Settings: Date range filtering Here you can filter the patterns by setting the date period (for E) Pivot Points -> Leftbars - Rightbars min/max retrace AD -> E Set the retracement for E (retracement A -> D -> E, here between 1.4 & 1.5) % tolerance Tolerance of Right shoulder height against Left shoulder height 0% (= the same relative height): 85% (-> now close isn't higher than E'-G' -> blue coloured): min/max % Sets the desired B height against D (here B is between 35-45% of D): width R shoulder = L shoulder + x% Sets the width of Right shoulder against Left shoulder 0% (nothing extra, just the same width as Left shoulder) 100% (Right shoulder area is double as large as the Left shoulder): -70% (Right shoulder area much narrower than Left shoulder): maximum visible patterns: Set the maximum visible amount of patterns This script uses one of the latest fantastic Pinescript features: linefill and for ... in loop Cheers!
Pine Script® indicator
by fikira
66
+ Klinger OscillatorThis is a version of Stephen J. Klinger's, Klinger Oscillator (sometimes called Klinger Volume Oscillator). I've changed virtually nothing about the indicator itself, but added some lookback inputs for the EMAs the oscillator is derived from (traditionally 34 and 55), and added a few other things, as is my wont. But what is the Klinger Oscillator? Essentially, the calculation looks at the high, low, and close of the current period, and compares that to the previous period's. If it is greater, it adds volume, and if it is less, it subtracts volume. It then takes an EMA of two different lookback periods of that calculation and subtracts one from the other. That's your oscillator. There is then made a signal line of the oscillator that a trader can use, in combination with the zero line, for taking trades. Investopedia has a good article on it, so if you're looking for more specifics, check there. What I've done is add a selection of different moving averages that you may choose for the signal line. Usually it's a 13 period EMA, and that comes default, but here you could use an ALMA or HMA, or modular filter, etc. Find something that works for your style/algorithm. Of course there are all the usual additions of mine with the various ways of coloring the indicator and candles, adjustable Donchian Bands, and alerts. A new addition that I've just added to all my indicators (oscillators, anyway) are divergences. This is more or less just a copy and paste of the divergence indicator available in TradingView. In this case you can set it to plot divergences off either the Klinger or the signal line. Depending on which one you choose you may have to adjust pivot lookbacks, and lookback range. I've kept the settings default from the RSI TradingView version.
Pine Script® indicator
by ClassicScott
40
Average LinesAverage Lines This script beholds several new exiting Pine stuff: - linefill, fill of line.new - last_bar_index, gives the bar_index of the last bar, already at the beginning of the script! (like 'timenow', but now with bar_index) The script is about pivot points, if there is one, it draws a line from the last to every previous one, then it extends this line to the future. On every next bar, all these lines and added and averaged, this gives an average line of all extended lines which are projected in the 'future'. In that way, we create a new kind of moving average Do mind, since the visible lines maximum of 500 it can easily happen that an average is made of way more lines than 500, but that you cannot see all of them Cheers!
Pine Script® indicator
by fikira
29
Volume-based Support & Resistance ZonesThe new and improved Support & Resistance Zones indicator is here. This indicator is based on high volume at fractal lows or fractal highs with the zones based on the size of the wick for that timeframe’s candle. This helps traders visualize which price levels are of the most significance for either reversals or continuation of the trend when zones are broken and then re-tested. Original script is thanks to synapticex and additional modifications is thanks to Lij_MC. Credit to both of them for most of the logic behind this script. Since then I have made many changes to this script as noted below: Changed default S/R lines from plots to lines, and gave option to user to change between solid line, dashed line, or dotted line for both S/R lines. Added additional time frame and gave more TF options for TF1 other than current TF. Now you will have 4 time frames to plot S/R zones from. Gave user option to easily change line thickness for all S/R lines. Made it easier to change colors of S/R lines and zones by consolidating the options under settings (rather than under style). Added extensions to active SR Zones to extend all the way right. Added option to extend or not extend the previous S/R zones up to next S/R zone. Added optional time frame labels to active S/R zones, with left and right options as well as option to adjust how far to the right label is set. Fixed issue where the higher time frame S/R zone was not properly starting from the high/low of fractal. Now any higher time frame S/R will begin exactly at the High/Low points. Note that this may not work perfectly on stocks and if a fractal high/low is too many bars in the past, it will revert to a default max bars back to avoid script errors. Added to script a function that will prevent S/R zones from lower time frames displaying while on a higher time frame. This helps clean up the chart quite a bit. Created arrays for each time frame's boxes and lines so that the number of S/R zones can be controlled for each time frame and limit memory consumption. New alert options added and customized alert messages. - The way this indicator works is it looks for fractal highs or fractal lows with volume that pierces above the volume's Moving Average. This moving average value can be modified in the settings for each time frame. - The fractal highs will be confirmed with 3 successive higher highs followed by 2 successive lower highs and vice versa for the fractal lows. - The zone is created from the fractal high/low and the close of the candle for whatever time frame you selected. The bigger the zone, the more significant that zone is. - You can disable any zone, change the zones to show lines only, and modify all the colors, transparencies, and thickness of lines for all the zones. - To create alerts, you first want to enable the types of alerts you want for each time frame in the indicator's settings. Then after you apply changes, right click on one of the zones on the chart, and click "Add Alert on Vol S/R Zones". You do not need to add a title as the correct alert messages are already built-in. - More changes will be coming in the future! I hope you find this indicator useful, if so please give it a thumbs up! If you have any suggestions or features you would like to see, just let me know in the comment section. Thanks and enjoy!
Pine Script® indicator
by tommyf1001
459
Diluted Earnings Per Share Signal [AstrideUnicorn]Earnings Per Share (EPS) is a financial metric closely monitored by investors. The so-called "positive earnings surprise" - a situation when EPS reading for a stock beats the value forecasted by analysts gives a bullish signal for this stock. The EPS reading lower than the analysts' estimate gives a bearish signal. The Diluted Earnings Per Share (Diluted EPS) metric calculates a company's potential earnings per share value in the case if all convertible securities get converted to common shares. Convertible securities include preferred shares, stock options, warrants, convertible debt, etc. Diluted EPS is a more scientific way to estimate earnings per share, and it is usually lower than the ordinary EPS. The Diluted EPS Signal indicator (DEPSS) is a fundamental indicator that calculates trading signals by comparing the Diluted EPS to the EPS Estimate. In many cases, Diluted EPS gives better insight into how a reported EPS reading may impact the stock price. HOW TO USE For each earnings date, the indicator calculates the Diluted Earnings Surprise percentage value : Diluted Earnings Surprise = (Diluted EPS - EPS Estimate)/ EPS Estimate. Diluted Earnings Surprise higher than the specified threshold value is a bullish signal. In this case, the indicator displays a green triangle pointing up. Diluted Earnings Surprise lower than the specified threshold value is a bearish signal displayed as a red triangle pointing down. As one can see on the chart, there are a lot of situations where EPS readings with green labels (the ones that beat analysts' estimates) lead to down moves. The DEPSS indicator can spot weak earnings and give opposite signals. SETTINGS Earnings Surprise Threshold (%) : the threshold value (in percentage units) for the Diluted Earnings Surprise. The calculated Diluted Earnings Surprise must be higher than Earnings Surprise Threshold to be considered a BUY signal or lower than minus Earnings Surprise Threshold to be considered a SELL signal. The default value for Earnings Surprise Threshold is 20%.
Pine Script® indicator
by AstrideUnicorn
16
Supertrend - Ladder ATRThis is a supertrend with slight twisted concept which can be very benefecial in strong trending markets to reduce stop loss distance and exit slightly quicker. ⬜ Concept ▶ When the instrument is trending up, regular ATR shows high values if there are big green candles. This affect the stoploss distance in regular supertrend which leads to wide stops or delayed lagging. When you are in long trade, what matters for stoploss is how much a negative candle can move within bar. Hence, using ATR derived only based on red candles is more beneficial for trailing stops on long signals. Same applies to short trades where using ATR derived from only green candles is more efficient than overall ATR. ▶ ATR will be minimal when the volatility is less and ATR will increase with volatility. That means, once you are in trade, the trailing of stoploss also will vary based on ATR (or volatility). With regular ATR and supertrend, chances of stop loss distance widening is high with increased volatility even though stoploss levels will not move down. This again poses the risk of higher drawdown during trade closure and also keeps in the trade during ranging market. To avoid this, the second trick we are using here is only to reduce the atr stoploss difference when in trade. That is, when in long trade and negative candles ATR is increasing, we will not consider that. We will consider the new ATR only if it is lesser than previous bar ATR. Effect of these changes on the trending market is quite visual. Lets take example of USDTRY Settings are quite simple and does not vary much from regular supertrend settings.
Pine Script® indicator
by Trendoscope
60
RedK Auto-Stepping Ladder TraderThe RedK Auto-Stepping Ladder Trader is an experimental tool to help identify trade entry and exits for various types of trades (Trend / Momentum / Breakout and Swing trades) The underlying concept here is loosely similar to the SMAC script - in case you'd like to read some of the "script-specific" write-up . I even borrowed some of the SMAC code, but upgraded the script to Pine v5 while working. So i won't repeat write-up here on how the script works - and we'll get right into how to use in trading How to use / trade the Ladder Trader: ------------------------------------------------- The idea is to set the auto-stepping ladder to a higher timeframe, the "ladder view" helps simplify the price action to show a clear direction, then use the lower timeframe to find best entries (close or at the ladder line) and exits (on the ATR as TP target) - Entries should be as close to the ladder line as possible - a trader may decide to have a small margin above or below the ladder line where they set entry limit order - note that when stepping is enabled, the auto-stepping algo will choose the step value based on the underlying price range and the selected timeframe to move with common trader "mental values" where traders will usually gravitate - exits can be set using the optional ATR or Pct channels - by default, there's an ATR channel (golden color) for that purpose Possible usage scenarios of the Ladder Trader: -------------------------------------------------------------- - Trend / long(er) term: enter position once the ladder line switches to the color corresponding to my desired direction (example: blue for long), and hold all the way until the color changes - Swing: Take only trades in the direction of the ladder (long with blue, short with orange) - enter at the ladder line value, set TP at the desired ATR, repeat as long as the direction holds - Feel free to experiment and share back other uses you find. There are so many settings and tweaks provided for flexibility - the downside is this adds a certain level of complexity - however, i hope this will be a valuable tool to add to your trading. Few Notes: ----------------------- - The Auto-stepping algo is a bit improved to be more FOREX and Crypto-friendly - i do not trade these instruments myself, but will continue to improve the auto-stepping technique in upcoming updates - the signal line (hidden by default, and is what causes the ladder to change color) is based on my Compound Ratio Moving Average - since it's the moving average i found to provide best combination of speed and smoothness. It is used as a proxy to the price, to signal when the price is above or below the ladder level - while removing some of the whipsaws if we use the price value directly. - Broader analysis of price action should still be made using other indicators - and possibly other chart setups - we shouldn't rely on the Ladder Trader signal only - Check for overall momentum, volume movement and market sentiment before using the Ladder Trader - Also test your settings in PaperMoney - i noticed that different instruments may need different settings (for Ladder Type, Length, Rounding Technique, ATR multiplier..etc) for optimal setup that shows best signals.. Get very familiar with the Ladder Trader and it should hopefully become more helpful to you as a tradiing tool. Comments and Feedback are welcome. Good luck.
Pine Script® indicator
by RedKTrader
41
Bjorgum Key Levels Key Levels Aims to capture 3 of the most significant points in price action Breakouts False Breakouts (Traps) Back Checks These 3 points ​​alone, if properly identified, can be some of the most significant points of movement in the price history of an asset and bring significant gains to traders, if capitalized on. Here are a few examples of these setups Breakouts Breakouts can bring significant rallies as the market swings one sided after key levels are breached. This entry type can bring large trending runs to follow. Momentum is on your side, but the trade off is a higher entry. False Breakouts Also known as a bull trap or a bear trap, false breaks can lead to swift and significant reversals and potential for a large and sudden move to the opposite side. When a key level breakout fails to hold, parties entering to capitalize on the "epic breakout" can get left holding the bag forcing them to exit at a loss, which can double the force of pressure. Traps can bring swift gains from good entry prices. However, price is still in a larger trend against you so momentum is weak, so price action is susceptible to roll over. Backchecks Back checks are pull backs in trend that find middle ground to the 2 areas already described. Both momentum and entry price are decent, but risk is defined as a key level has flipped offering entry with stops below demand, or above supply. Combining these 3 methods helps to diversify risk, understand trend development, and bring steady gains. This script helps to identify these points to traders with analysis of key levels, price structure, and trend direction, while providing visual signals and alerts for when they occur. Best of luck in your coding and trading and thank you for your support
Pine Script® indicator
by Bjorgum
539
TASC 2021.12 Directional Movement w/Hann█  OVERVIEW Presented here is code for the "Directional Movement w/Hann" indicator originally conceived by John ​Ehlers. The code is also published in the December 2021 issue of Trader's Tips by Technical Analysis of Stocks & ​Commodities (TASC) magazine. Ehlers continues here his exploration of the application of Hann windowing to conventional trading indicators. █  FEATURES The rolling length can be modified in the script's inputs, as well as the width of the line. █  NOTES Calculations The calculation starts with the classic definition of PlusDM and MinusDM. These directional movements are summed in an exponential moving average (EMA). Then, this EMA is further smoothed in a finite impulse response (FIR) filter using Hann window coefficients over the calculation period. Background The DMI and ADX indicators were designed by J. Welles Wilder and presented in his "New Concepts in Technical Trading Systems" book published in 1978. Join TradingView!
Pine Script® indicator
by PineCodersTASC
6
RKs Notepad++ Pine Script V5█  OVERVIEW After reading all the new names and renames that Pine Script V5 brought to us, I knew that my old Notepad++ User Defined Language (UDL) would need a big update, so I decided to do a complete remake using the same Dark color scheme theme of the Pine Editor. Then, I create a Notepad++ Theme and the Auto-Completion file with the Parameter hints for every built-in function to make everything look nicer █  IMPORTANT This is not an indicator!! These are 3 XML files to copy and paste inside the Notepad++ folder. You can use any Notepad Software to create the XML files. The main Notepad++ folder is normally on %AppData%\Notepad++\ To avoid mistakes, always make a Backup of your files before anything. █  INSTALLATION Just follow these steps: 1. open a New Document File; 2. Copy everything between ↓↓↓ and ↑↑↑ symbols to this new document; 3. Remove the "//" of every single line; 4. Save each document with the correct name in the right folder; 5. Restart the Notepad++ █  NOTES: If you have some problem installing, ask me, and I will try to help you. But, in any case, here is the link to these files on my GitHub:
Pine Script® indicator
by RodrigoKazuma
36
Higher Time Frame Chart OverlayHello All, This script gets OHLC values from any security and Higher/Same time frame you set, then creates the chart including last 10 candles. it shows Symbol name, Time Frame, Highest/Lowest level of last 10 candles and Close Price at the right side of the chart as well. Closing price text color changes by the real-time candle of the related symbol and time frame. The all this was made using the Tables in Pine and the chart location doesn't change even if you change the size of main chart window. Almost everything can be change as you want. You can change/set: - Colors of Body and Top/Bottom Wicks separately - The Height of each Cell - The Width of Body and Wicks - The Background and Frame color - Enable/disable Status Panel (if you disable Status Panel then only candle chart is shown) - Location of Status Panel - Text color and Text size - The Background color of Status Panel Some examples: The info shown in Status Panel: You can change The Height of each Cell and The Width of Body and Wicks You can change colors: You can change location of the chart: If you add the script more than once then you can see the charts for different symbols and time frames: (This may slow down your chart) If you right-click on the script and choose "Visual Order" => "Bring to front" then it will be better visually: P.S. Using this script may slow down your chart, especially if you add it more than once Enjoy!
Pine Script® indicator
by LonesomeTheBlue
121
Augmented Dickey–Fuller (ADF) mean reversion testThe augmented Dickey-Fuller test (ADF) is a statistical test for the tendency of a price series sample to mean revert . The current price of a mean-reverting series may tell us something about the next move (as opposed, for example, to a geometric Brownian motion). Thus, the ADF test allows us to spot market inefficiencies and potentially exploit this information in a trading strategy. Mathematically, the mean reversion property means that the price change in the next time period is proportional to the difference between the average price and the current price. The purpose of the ADF test is to check if this proportionality constant is zero. Accordingly, the ADF test statistic is defined as the estimated proportionality constant divided by the corresponding standard error. In this script, the ADF test is applied in a rolling window with a user-defined lookback length. The calculated values ​​of the ADF test statistic are plotted as a time series. The more negative the test statistic, the stronger the rejection of the hypothesis that there is no mean reversion. If the calculated test statistic is less than the critical value calculated at a certain confidence level (90%, 95%, or 99%), then the hypothesis of a mean reversion is accepted (strictly speaking, the opposite hypothesis is rejected). Input parameters: Source - The source of the time series being tested. Length - The number of points in the rolling lookback window. The larger sample length makes the ADF test results more reliable. Maximum lag - The maximum lag included in the test, that defines the order of an autoregressive process being implied in the model. Generally, a non-zero lag allows taking into account the serial correlation of price changes. When dealing with price data, a good starting point is lag 0 or lag 1. Confidence level - The probability level at which the critical value of the ADF test statistic is calculated. If the test statistic is below the critical value, it is concluded that the sample of the price series is mean-reverting. Confidence level is calculated based on MacKinnon (2010) . Show Infobox - If True, the results calculated for the last price bar are displayed in a table on the left. More formal background: Formally, the ADF test is a test for a unit root in an autoregressive process. The model implemented in this script involves a non-zero constant and zero time trend. The zero lag corresponds to the simple case of the AR(1) process, while higher order autoregressive processes AR(p) can be approached by setting the maximum lag of p. The null hypothesis is that there is a unit root, with the alternative that there is no unit root. The presence of unit roots in an autoregressive time series is characteristic for a non-stationary process. Thus, if there is no unit root, the time series sample can be concluded to be stationary, i.e., manifesting the mean-reverting property. A few more comments: It should be noted that the ADF test tells us only about the properties of the price series now and in the past. It does not directly say whether the mean-reverting behavior will retain in the future. The ADF test results don't directly reveal the direction of the next price move. It only tells wether or not a mean-reverting trading strategy can be potentially applicable at the given moment of time. The ADF test is related to another statistical test, the Hurst exponent. The latter is available on TradingView as implemented by balipour , QuantNomad and DonovanWall . The ADF test statistics is a negative number. However, it can take positive values, which usually corresponds to trending markets (even though there is no statistical test for this case). Rigorously, the hypothesis about the mean reversion is accepted at a given confidence level when the value of the test statistic is below the critical value. However, for practical trading applications, the values which are low enough - but still a bit higher than the critical one - can be still used in making decisions. Examples: The VIX volatility index is known to exhibit mean reversion properties (volatility spikes tend to fade out quickly). Accordingly, the statistics of the ADF test tend to stay below the critical value of 90% for long time periods. The opposite case is presented by BTCUSD. During the same time range, the bitcoin price showed strong momentum - the moves away from the mean did not follow by the counter-move immediately, even vice versa. This is reflected by the ADF test statistic that consistently stayed above the critical value (and even above 0). Thus, using a mean reversion strategy would likely lead to losses.
Pine Script® indicator
by tbtkg
46
All-Time High/Low WidgetIt's a pretty simple widget to track all-time high and all-time low values. You can plot the levels and display some stats when all-time happened and how far away are we at this moment. Also, you can create alerts to get notified on ATH/ATL breakout. Thanks to @Verleiht for helping me with the code. Disclaimer Please remember that past performance may not be indicative of future results. Due to various factors, including changing market conditions, the strategy may no longer perform as well as in historical backtesting. This post and the script don’t provide any financial advice.
Pine Script® indicator
by QuantNomad
26
Indicators OverlayHello All, This script shows the indicators in separate windows on the main chart. Included indicators are RSI, CCI, OBV, Stochastic, Money Flow Index, Average True Range and Chande Momentum Oscillator. indicator windows are located at the top or bottom of the chart according to last moves of the Closing price. Different colors are used for each indicator. Horizontal levels are shown as dashed line and label as well. Using the options; You can enable/disable the indicators you want to see or not You can change source and length for each indicator You can set window length. using this length indicator windows are located on the chart After you added this indicator to your chart I recommend: right click on any of the indicator windows => "Visual Order" => "Bring to front" as seen screenshot below: in this example only 3 indicators enabled and period is set as 80: indicator windows moves to the top or bottom of the chart according to the close price: P.S. if you want to see any other indicator in the options then leave a comment under the indicator ;) Enjoy!
Pine Script® indicator
by LonesomeTheBlue
144
Realtime 5D Profile [LucF]█  OVERVIEW This indicator displays a realtime profile that can be configured to visualize five dimensions: ​volume, price, time, activity and age. For each price level in a bar or timeframe, you can display total or delta ​volume or ticks. The tick count measures activity on a level. The thickness of each level's line indicates its age, which helps you identify the most recent levels. █  WARNING The indicator only works in real time. Contrary to TradingView's line of volume profile indicators , it does not show anything on historical bars or closed markets, and it cannot display ​volume information if none exists for the data feed the chart is using. A realtime indicator such as this one only displays information accumulated while it is running on a chart. The information it calculates cannot be saved on charts, nor can it be recalculated from historical bars. If you refresh the chart, or the script must re-execute for some reason, as when you change inputs, the accumulated information will be lost. Because "Realtime 5D Profile" requires time to accumulate information on the chart, it will be most useful to traders working on small timeframes who trade only one instrument and do not frequently change their chart's symbol or timeframe. Traders working on higher timeframes or constantly changing charts will be better served by TradingView's ​volume profiles. Before using this indicator, please see the "Limitations" section further down for other important information. █  HOW TO USE IT Load the indicator on an active chart (see here if you don't know how). The default configuration displays:  • A double-sided ​volume profile showing at what price levels activity has occurred.  • The left side shows "down" ​​volume, the right side shows "up" ​volume.  • The value corresponding to each level is displayed.  • The width of lines reflects their relative value.  • The thickness of lines reflects their age. Four thicknesses are used, with the thicker lines being the most recent.  • The total value of down/up values for the profile appears at the top. To understand how to use profiles in your trading, please research the subject. Searches on "volume profile" or "market profile" will yield many useful results. I provide you with tools — I do not teach trading. To understand more about this indicator, read on. If you choose not to do so, please don't ask me to answer questions that are already answered here, nor to make videos; I don't. █  CONCEPTS Delta calculations ​Volume is slotted in up or down slots depending on whether the price of each new chart update is higher or lower than the previous update's price. When price does not move between chart updates, the last known direction is used. In a perfect world, Pine scripts would have access to bid and ask levels, as this would allow us to know for sure if market orders are being filled on upticks (at the ask) or downticks (at the bid). Comparing the price of successive chart updates provides the most precise way to calculate ​volume delta on TradingView, but it is still a compromise. Order books are in constant movement; in some cases, order cancellations can cause sudden movements of both the bid and ask levels such that the next chart update can occur on an uptick at a lower price than the previous one (or vice versa). While this update's ​volume should be slotted in the up slot because a buy market order was filled, it will erroneously be slotted in the down slot because the price of the chart's update is lower than that of the previous one. Luckily, these conditions are relatively rare, so they should not adversely affect calculations. Levels A profile is a tool that displays information organized by price levels. You can select the maximum quantity of levels this indicator displays by using the script's "Levels" input. If the profile's height is small enough for level increments to be less than the symbol's tick size, a smaller quantity of levels is used until the profile's height grows sufficiently to allow your specified quantity of levels to be displayed. The exact position of levels is not tethered to the symbol's tick increments. Activity for one level is that which happens on either side of the level, halfway between its higher or lower levels. The lowest/highest levels in the profile thus appear higher/lower than the profile's low/high limits, which are determined by the lowest/highest points reached by price during the profile's life. Level Values and Length The profile's vertical structure is dynamic. As the profile's height changes with the price range, it is rebalanced and the price points of its levels may be recalculated. When this happens, past updates will be redistributed among the new profile's levels, and the level values may thus change. The new levels where updates are slotted will of course always be near past ones, but keep this fluidity in mind when watching level values evolve. The profile's horizontal structure is also dynamic. The maximum length of level lines is controlled by the "Maximum line length" input value. This maximum length is always used for the largest level value in the profile, and the length of other levels is determined by their value relative to that maximum. Updates vs Ticks Strictly speaking, a tick is the record of a transaction between two parties. On TradingView, these are detected on seconds charts. On other charts, ticks are aggregated to form a chart update . I use the broader "update" term when it names both events. Note that, confusingly, tick is also used to name an instrument's minimal price increment. Volume Quality If you use ​volume, it's important to understand its nature and quality, as it varies with sectors and instruments. My Volume X-ray indicator is one way you can appraise the quality of an instrument's intraday ​volume. █  FEATURES Double-Sided Profiles When you choose one of the first two configuration selections in the "Configuration" field's dropdown menu, you are asking the indicator to display a double-sided profile, i.e., where the down values appear on the left and the up ones on the right. In this mode, the formatting options in the top section of inputs apply to both sides of the profile. Single-Sided Profiles The six other selections down the "Configuration" field's dropdown menu select single-sided profiles, where one side aggregates the up/down values for either ​volume or ticks. In this mode, the formatting options in the top section of inputs apply to the left profile. The ones in the following "Right format" section apply to the right profile. Calculation Mode The "Calculation" input field allows the selection of one of two modes which applies to single-sided profiles only. Values can represent the simple total of ​volume or ticks at each level, or their delta. The mode has no effect when a double-sided profile is used because then, the total is represented by the sum of the left and right sides. Note that when totals are selected, all levels appear in the up color. Age The age of each level is always displayed as one of four line thicknesses. Thicker lines are used for the youngest levels. The age of levels is determined by averaging the times of the updates composing that level. When viewing double-sided profiles, the age of each side is calculated independently, which entails you can have a down level on the left side of the profile appear thinner than its corresponding up side level line on the right side because the updates composing the up side are more recent. When calculating the age of single-sided profiles, the age of the up/down values aggregated to calculate the side are averaged. Since they may be different, the averaged level ages will not be as responsive as when using a double-sided profile configuration, where the age of levels on each side is calculated independently and follows price action more closely. Moreover, when displaying two single-sided profiles (​volume on one side and ticks on the other), the age of both sides will match because they are calculated from the same realtime updates. Profile Resets The profile can reset on timeframes or trend changes. The usual timeframe selections are available, including the chart's, in which case the profile will reset on each new chart bar. One of two trend detection logics can be used: Supertrend or the one used by LazyBear in his Weis Wave indicator . Settings for the trend logics are in the bottommost section of the inputs, where you can also control the display of trend changes and states. Note that the "Timeframe" field's setting also applies to the trend detection mechanism. Whatever the timeframe used for trend detection, its logic will not repaint. Format Formatting a profile for charts is often a challenge for traders, and this one is no exception. Varying zoom factors on your chart and the frequency of profile resets will require different profile formats. You can achieve a reasonable variety of effects by playing with the following input fields:  • "Resets on" controls how frequently new profiles are drawn. Spacing out profiles between bars can help make them more usable.  • "Levels" determines the maximum quantity of levels displayed.  • "Offset" allows you to shift the profile horizontally.  • "Profile size" affects the global size of the profile.  • Another "Size" field provides control over the size of the totals displayed above the profile.  • "Maximum line length" controls how far away from the center of the bar the lines will stretch left and right. Colors The color and brightness of levels and totals always allows you to determine the winning side between up and down values. On double-sided profiles, each side is always of one color, since the left side is down values and the right side, up values. However, the losing side is colored with half its brightness, so the emphasis is put on the winning side. When there is no winner, the toned-down version of each color is used for both sides. Single-sided profiles use the up and down colors in full brightness on the same side. Which one is used reflects the winning side. Candles The indicator can color candle bodies and borders independently. If you choose to do so, you may want to disable the chart's bars by using the eye icon near the symbol's name. Tooltips A tooltip showing the value of each level is available. If they do not appear when hovering over levels, select the indicator by clicking on its chart name. This should get the tooltips working. Data Window As usual, I provide key values in the Data Window, so you can track them. If you compare total realtime volumes for the profile and the built-in "Volume" indicator, you may see variations at some points. They are due to the different mechanisms running each program. In my experience, the values from the built-in don't always update as often as those of the profile, but they eventually catch up. █  LIMITATIONS  • The levels do not appear exactly at the position they are calculated. They are positioned slightly lower than their actual price levels.  • Drawing a 20-level double-sided profile with totals requires 42 labels. The script will only display the last 500 labels,   so the number of levels you choose affects how many past profiles will remain visible.  • The script is quite taxing, which will sometimes make the chart's tab less responsive.  • When you first load the indicator on a chart, it will begin calculating from that moment; it will not take into account prior chart activity.  • If you let the script run long enough when using profile reset criteria that make profiles last for a long time, the script will eventually run out of memory,   as it will be tracking unmanageable amounts of chart updates. I don't know the exact quantity of updates that will cause this,   but the script can handle upwards of 60K updates per profile, which should last 1D except on the most active markets. You can follow the number of updates in the Data Window.  • The indicator's nature makes it more useful at very small timeframes, typically in the sub 15min realm.  • The Weis Wave trend detection used here has nothing to do with how David Weis detects trend changes.   LazyBear's version was a port of a port, so we are a few generations removed from the Weis technique, which uses reversals by a price unit.   I believe the version used here is useful nonetheless because it complements Supertrend rather well. █  NOTES The aggregated view that ​volume and tick profiles calculate for traders is a good example of one of the most useful things software can do for traders: look at things from a methodical, mathematical perspective, and present results in a meaningful way. Profiles are powerful because, if the ​volume data they use is of good enough quality, they tell us what levels are important for traders, regardless of the nature or rationality of the methods traders have used to determine those levels. Profiles don't care whether traders use the news, fundamentals, Fib numbers, ​pivots, or the phases of the moon to find "their" levels. They don't attempt to forecast or explain markets. They show us real stuff containing zero uncertainty, i.e., what HAS happened. I like this. The indicator's "VPAA" chart name represents four of the five dimensions the indicator displays: ​volume, price, activity and age. The time dimension is implied by the fact it's a profile — and I couldn't find a proper place for a "T" in there ) I have not included alerts in the script. I may do so in the future. For the moment, I have no plans to write a profile indicator that works on historical bars. TradingView's ​volume profiles already do that, and they run much faster than Pine versions could, so I don't see the point in spending efforts on a poor ersatz. For Pine Coders  • The script uses labels that draw varying quantities of characters to break the limitation constraining other Pine plots/lines to bar boundaries.  • The code's structure was optimized for performance. When it was feasible, global arrays, "input" and other variables were used from functions,   sacrificing function readability and portability for speed. Code was also repeated in some places, to avoid the overhead of frequent function calls in high-traffic areas.  • I wrote my script using the revised recommendations in the Style Guide from the Pine v5 User Manual. █  THANKS  • To Duyck for his function that sorts an array while keeping it in synch with another array.   The `sortTwoArrays()` function in my script is derived from the Pine Wizard 's code.  • To the one and only Maestro, RicardoSantos , the creative ​volcano who worked hard to write a function to produce fixed-width, figure space-padded numeric values.   A change in design made the function unnecessary in this script, but I am grateful to you nonetheless.  • To midtownskr8guy , another Pine Wizard who is also a wizard with colors. I use the colors from his Pine Color Magic and Chart Theme Simulator constantly.  • Finally, thanks to users of my earlier "Delta Volume" scripts. Comments and discussions with them encouraged me to persist in figuring out how to achieve what this indicator does.
Pine Script® indicator
by LucF
105
Volume X-ray [LucF]█  OVERVIEW This tool analyzes the relative size of ​volume reported on intraday vs ​EOD (end of day) data feeds on historical bars. If you use ​​volume data to make trading decisions, it can help you improve your understanding of its nature and quality, which is especially important if you trade on intraday timeframes. I often mention, when discussing ​volume analysis, how it's important for traders to understand the ​volume data they are using: where it originates, what it includes and does not include. By helping you spot sizeable differences between ​volume reported on intraday and ​EOD data feeds for any given instrument, "Volume X-ray" can point you to instruments where you might want to research the causes of the difference. █  CONCEPTS The information used to build a chart's historical bars originates from data providers (exchanges, brokers, etc.) who often maintain distinct historical feeds for intraday and ​EOD timeframes. How ​volume data is assembled for intraday and ​EOD feeds varies with instruments, brokers and exchanges. Variations between the two feeds — or their absence — can be due to how instruments are traded in a particular sector and/or the ​volume reporting policy for the feeds you are using. Instruments from crypto and forex markets, for example, will often display similar ​volume on both feeds. Stocks will often display variations because block trades or other types of trades may not be included in their intraday ​volume data. ​Futures will also typically display variations. It is even possible that ​volume from different feeds may not be of the same nature, as you can get trade ​volume (market ​volume) on one feed and tick ​volume (transaction counts) on another. You will sometimes be able to find the details of what different feeds contain from the technical information provided by exchanges/brokers on their feeds. This is an example for the NASDAQ feeds . Once you determine which feeds you are using, you can look for the reporting specs for that feed. This is all research you will need to do on your own; "Volume X-ray" will not help you with that part. You may elect to forego the deep dive in feed information and simply rely on the figure the indicator will calculate for the instruments you trade. One simple — and unproven — way to interpret "Volume X-ray" values is to infer that instruments with larger percentages of intraday/​EOD ​​volume ratios are more "democratic" because at intraday timeframes, you are seeing a greater proportion of the actual traded ​volume for the instrument. This could conceivably lead one to conclude that such ​​volume data is more reliable than on an instrument where intraday ​volume accounts for only 3% of ​EOD ​volume, let's say. Note that as intraday vs ​EOD variations exist for historical bars on some instruments, there will typically also be differences between the realtime feeds used on intraday vs 1D or greater timeframes for those same assets. Realtime reporting rules will often be different from historical feed reporting rules, so variations between realtime feeds will often be different from the variations between historical feeds for the same instrument. A deep dive in reporting rules will quickly reveal what a jungle they are for some instruments, yet it is the only way to really understand the ​volume information our charts display. █  HOW TO USE IT The script is very simple and has no inputs. Just add it to 1D charts and it will calculate the proportion of ​volume reported on the intraday feed over the ​​EOD ​volume. The plots show the daily values for both volumes: the teal area is the ​EOD ​volume, the orange line is the intraday ​volume. A value representing the average, cumulative intraday/​EOD ​volume percentage for the chart is displayed in the upper-right corner. Its background color changes with the percentage, with brightness levels proportional to the percentage for both the bull color (% >= 50) or the bear color (% < 50). When abnormal conditions are detected, such as missing ​volume of one kind or the other, a yellow background is used. Daily and cumulative values are displayed in indicator values and the Data Window. The indicator loads in a pane, but you can also use it in overlay mode by moving it on the chart with "Move to" in the script's "More" menu, and disabling the plot display from the "Settings/Style" tab. █  LIMITATIONS  • The script will not run on timeframes >1D because it cannot produce useful values on them.  • The calculation of the cumulative average will vary on different intraday timeframes because of the varying number of days covered by the dataset.   Variations can also occur because of irregularities in reported ​volume data. That is the reason I recommend using it on 1D charts.  • The script only calculates on historical bars because in real time there is no distinction between intraday and ​EOD feeds.  • You will see plenty of special cases if you use the indicator on a variety of instruments:    • Some instruments have no intraday ​volume, while on others it's the opposite.    • Missing information will sometimes appear here and there on datasets.    • Some instruments have higher intraday than ​​EOD ​volume.   Please do not ask me the reasons for these anomalies; it's your responsibility to find them. I supply a tool that will spot the anomalies for you — nothing more. █  FOR PINE CODERS  • This script uses a little-known feature of request.security() , which allows us to specify `"1440"` for the `timeframe` argument.   When you do, data from the 1min intrabars of the historical intraday feed is aggregated over one day, as opposed to the usual ​EOD feed used with `"D"`.  • I use gaps on my request.security() calls. This is useful because at intraday timeframes I can cumulate non- na values only.  • I use fixnan() on some values. For those who don't know about it yet, it eliminates na values from a series, just like not using gaps will do in a request.security() call.  • I like how the new switch structure makes for more readable code than equivalent if structures.  • I wrote my script using the revised recommendations in the Style Guide from the Pine v5 User Manual.  • I use the new runtime.error() to throw an error when the script user tries to use a timeframe >1D.   Why? Because then, my request.security() calls would be returning values from the last 1D intrabar of the dilation of the, let's say, 1W chart bar.   This of course would be of no use whatsoever — and misleading. I encourage all Pine coders fetching HTF data to protect their script users in the same way.   As tool builders, it is our responsibility to shield unsuspecting users of our scripts from contexts where our calcs produce invalid results.  • While we're on the subject of accessing intrabar timeframes, I will add this to the intention of coders falling victim to what appears to be   a new misconception where the mere fact of using intrabar timeframes with request.security() is believed to provide some sort of edge.   This is a fallacy unless you are sending down functions specifically designed to mine values from request.security() 's intrabar context.   These coders do not seem to realize that:    • They are only retrieving information from the last intrabar of the chart bar.    • The already flawed behavior of their scripts on historical bars will not improve on realtime bars. It will actually worsen because in real time,     intrabars are not yet ordered sequentially as they are on historical bars.    • Alerts or strategy orders using intrabar information acquired through request.security() will be using flawed logic and data most of the time.   The situation reminds me of the mania where using Heikin-Ashi charts to backtest was all the rage because it produced magnificent — and flawed — results.   Trading is difficult enough when doing the right things; I hate to see traders infected by lethal beliefs.   Strive to sharpen your "herd immunity", as Lionel Shriver calls it. She also writes: "Be leery of orthodoxy. Hold back from shared cultural enthusiasms."   Be your own trader. █  THANKS This indicator would not exist without the invaluable insights from Tim, a member of the Pine team. Thanks Tim!
Pine Script® indicator
by LucF
14
TASC 2021.11 MADH Moving Average Difference, Hann█  OVERVIEW Presented here is code for the "Moving Average Difference, Hann" indicator originally conceived by John ​Ehlers. The code is also published in the November 2021 issue of Trader's Tips by Technical Analysis of Stocks & ​Commodities (TASC) magazine. █  CONCEPTS By employing a Hann windowed finite impulse response filter (FIR), John ​Ehlers has enhanced the Moving Average Difference (MAD) to provide an oscillator with exceptional smoothness. ​Of notable mention, the wave form of MADH resembles ​Ehlers' "Reverse EMA" Indicator, formerly revealed in the September 2017 issue of TASC. Many variations of the "Reverse EMA" were published in TradingView's Public Library. █  FEATURES Three values in the script's "Settings/Inputs" provide control over the oscillators behavior:  • The price source  • A "Short Length" with a default of 8, to manage the lower band edge of the oscillator  • The "Dominant Cycle", originally set at 27, which appears to be a placeholder for an adaptive control mechanism Two coloring options are provided for the line's fill:  • "ZeroCross", the default, uses the line's position above/below the zero level. This is the mode used in the top version of MADH on this chart.  • "Momentum" uses the line's up/down state, as shown in the bottom version of the indicator on the chart. █  NOTES Calculations The source price is used in two independent Hann windowed FIR filters having two different periods (lengths) of historical observation for calculation, one being a "Short Length" and the other termed "Dominant Cycle". These are then passed to a "rate of change" calculation and then returned by the reusable function. The secret ​sauce is that a "windowed Hann FIR filter" is superior tp a generic SMA filter, and that ultimately reveals Ehlers' clever enhancement. We'll have to wait and see what ingenuities ​Ehlers has next to unleash. Stay tuned... The `madh()` function code was optimized for computational efficiency in Pine, differing visibly from ​Ehlers' original formula, but yielding the same results as ​Ehlers' version. Background This indicator has a sibling indicator discussed in the "The MAD Indicator, Enhanced" article by ​Ehlers. MADH is an evolutionary update from the prior MAD indicator code published in the October 2021 issue of TASC. Sibling Indicators  • Moving Average Difference (MAD)  • Cycle/Trend Analytics Related Information  • Cycle/Trend Analytics And The MAD Indicator  • The Reverse ​EMA Indicator  • Hann Window  • ROC Join TradingView!
Pine Script® indicator
by PineCodersTASC
7