Reversal finderThis script is used to visually highlight candles which may signal a reversal following a false break of a support or resistance level.
Inputs are:
Lookback period: look for the highest high and the lowest low of the prior x bars.
SMA length: used for a simple moving average of the range (high minus low) of the prior x bars.
Range multiple: used to filter out signals for any bars with a range smaller than the average range of the preceding bars (determined by SMA length above) e.g. a range multiple of 2 will only show signals for bars with a range twice of that of the average range of the preceding bars.
Range threshold: used to filter signals for bars both the open and close of the bar are at the extreme end of the bar e.g. a threshold setting of 33% will only show buy signals for bars which open and close within the upper 1/3rd of the bar’s high/low range (vice versa for sell signals). This helps highlight, for example, bars with a high which exceeds resistance in a current range but which close back inside the range.
Highlight signal bars?: This will highlight bars with a buy signal in green, sell signal bars in red, and all other bars in grey. The script was designed for use with a dark background, so you will need to play around with the bar colours in the style settings to suit your preferences.
Settings used in the example chart are not the default – they are lookback: 5, SMA length: 20, range multiple: 1.2, range threshold: 33%.
Enjoy!
Indicators and strategies
OBV Traffic LightsThe idea with On-balance volume (OBV) is to see price movement based on volume instead of the distance between the open and close of a candle. This can be used to find the relationship between volume and price action much easier than normal volume bars.
This version spices the OBV up a bit by basing it off of the current and previous close of the Heikin Ashi of the current bar, as well as adding "traffic light"
moving averages to the mix to get a better grasp of trends and when volume has shifted direction as well as by how much.
Thanks to Peter Whipp for the original idea of using the OBV with traffic light moving averages, as well as the default settings for them.
Earnings, Splits, DividendsExample of requesting Earnings, Splits, Dividends using pine-script.
That way is inner representation of data in TradingView, so it can be changed any time. It's just an example of requesting of the data.
Description of the series.
Earnings:
time: report date (unix time stamp)
open: estimate value
low: reported value
close: actual value
high: fiscal period (unix time stamp)
Splits:
time: split date (unix time stamp)
close: split denominator
open: split numerator
Dividends:
time: ex-dividend date (unix time stamp)
close: amount
SMU STDEV Candles This script creates a STDEV in a candle format so you can see the Change in a candle format and compare it with the actual price candle.
Is very similar to SMU RSI and SMU ROC. The interesting part is to see the full effect of traditional indicators in a candle format rather than a simple plot format. Very interesting view in SPX. There is a very big clue in the chart as STDEV changed since 2008. Can you figure it out?
Also, try this in lower time frame and you will be amazed how Algo kills volatility after each upside or downside. Fascinating
Renko RSIThis is live and non-repainting Renko RSI tool. The tool has it’s own engine and not using integrated function of Trading View.
Renko charts ignore time and focus solely on price changes that meet a minimum requirement. Time is not a factor on Renko chart but as you can see with this script Renko RSI created on time chart.
Renko chart provide several advantages, some of them are filtering insignificant price movements and noise, focusing on important price movements and making support/resistance levels much easier to identify.
As source Closing price or High/Low can be used.
Traditional or ATR can be used for scaling. If ATR is chosen then there is rounding algorithm according to mintick value of the security. For example if mintick value is 0.001 and brick size (ATR/Percentage) is 0.00124 then box size becomes 0.001. And also while using dynamic brick size (ATR), box size changes only when Renko closing price changed.
Renko RSI is calculated by own Renko RSI algorithm.
Alerts added:
Renko RSI moved below Overbought level
Renko RSI moved above Overbought level
Renko RSI moved below Oversold level
Renko RSI moved above Oversold level
RSI length is 2 by default, you can set as you wish.
You better to use this script with the following one:
Enjoy!
Divergence for many indicator v3Hello Everyone. Almost one year later, with Pine version 4, I developed new version of the Divergence for many Indicator.
It analyses divergences for 10 predefined indicators and then draws line on the graph. Red for negatif divergence (means prices may go down or trend reversal), Lime for positive divergences (means prices may go up or trend reversal)
Divergences version 2 has latency because it waits higher time frame completion. in this new version the script uses Pivot Points and on every bar it checks divergence between last Pivot point and current bar and if it finds any then immediately draws line and removes old one. so there is no latency with this version.
There are predefined 10 indicators in the script, you have option to choose which indicators the script would analyse for divergence. (RSI , MACD , MACD Histogram, Stochastic , CCI , Momentum, OBV, Diosc, VWMACD and CMF)
In replay mode you can see how the script puts new divergence line and removes old one. you better see it for yourself by using replay mode.
Hope you Enjoy!
Relative Strength(RSMK) + Perks - Markos KatsanosIf you are desperately looking for a novel RSI, this isn't that. This is another lesser known novel species of indicator. Hot off the press, in multiple stunning color schemes, I present my version of "Relative Strength (RSMK)" employing PSv4.0, originally formulated by Markos Katsanos for TASC - March 2020 Traders Tips. This indicator is used to compare performance of an asset to a market index of your choosing. I included the S&P 500 index along side the Dow Jones and the NASDAQ indices selectively by an input() in "Settings". You may comparatively analyze other global market indices by adapting the code, if you are skilled enough in Pine to do so.
With this contribution to the Tradingview community, also included is MY twin algorithmic formulation of "Comparative Relative Strength" as a supplementary companion indicator. They are eerily similar, so I decided to include it. You may easily disable my algorithm within the indicator "Settings". I do hope you may find both of them useful. Configurations are displayed above in multiple scenarios that should be suitable for most traders.
As always, I have included advanced Pine programming techniques that conform to proper "Pine Etiquette". For those of you who are newcomers to Pine Script, this script may also help you understand advanced programming techniques in Pine and how they may be utilized in a most effective manner. Utilizing the "Power of Pine", I included the maximum amount of features I could surmise in an ultra small yet powerful package, being less than a 60 line implementation at initial release.
Unfortunately, there are so many Pine mastery techniques included, I don't have time to write about all of them. I will have to let you discover them for yourself, excluding the following Pine "Tricks and Tips" described next. Of notable mention with this release, I have "overwritten" the Pine built-in function ema(). You may overwrite other built-in functions too. If you weren't aware of this Pine capability, you now know! Just heed caution when doing so to ensure your replacement algorithms are 100% sound. My ema() will also accept a floating point number for the period having ultimate adjustability. Yep, you heard all of that properly. Pine is becoming more impressive than `impressive` was originally thought of...
Features List Includes:
Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting
AND much, much more... You have the source!
The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. 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. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
Laguerre RSILaguerre RSI is based on John EHLERS' Laguerre Filter to avoid the noise of RSI.
Change alpha coefficient to increase/decrease lag and smoothness.
Buy when Laguerre RSI crosses upwards above 20.
Sell when Laguerre RSI crosses down below 80.
While indicator runs flat above 80 level, it means that an uptrend is strong.
While indicator runs flat below 20 level, it means that a downtrend is strong.
Developer: John EHLERS
Author: KivancOzbilgic
Mean Deviation IndexThe Mean Deviation Index (MDX) is used to see how much price is deviating from the mean. This indicator takes both volatility and mean deviation in consideration.
It uses the standard deviation of the ATR to filter an EMA, and uses this as the mean. It then only plots > or < 0 if price is more than one x ATR away from the mean. If index is positive, the background turns green, meaning price is more than 1 x ATR above the mean. If the index is negative, the background turns red, meaning price is more than 1 x ATR below the mean. This setting can be changed by changing the setting "ATR Multiplier", but the default is 1 x ATR.
There are two main ways to use this index.
1. Use it aggressively to find trends (by combining it with other indicators) by entereding each time the background changes color to green for longs or red for shorts.
2. Use it spot breakouts, waiting for a pullback, and then entering on the next move in the same direction. In this context for a short, you wait for the background color to turn green, then wait for the index to pull back, and then enter once it starts moving up again.
Zahorchak MeasureCreator: Michael G. Zahorchak.
References:
The Art of Low Risk Investing by Michael G. Zahorchak, 1977. Unfortunately, it's all but impossible to find a copy these days.
The Complete Guide to Market Breadth Indicators by Gregory L. Morris, 2006. A fantastic resource for those interested in Technical Analysis or creating their own trend based system.
Two articles by Greg Morris on the Zahorchak Measure. I can't link to them under the House Rules, but they are easily searchable.
The Zahorchak Measure (ZM) is designed to give you a market bias (either uptrend or downtrend) which you can use to determine a trade bias for ETF's or stocks.
ZM works by taking multiple moving averages of the NYSE Composite, a moving average of the NYSE advance decline line, and examining the relationship between those elements. Broadly, the market is considered to be in a uptrend when ZM is above zero, and a downtrend when below. However, there are many ways to interpret the indicator.
The version created by Greg Morris is more akin to a binary indicator in that ZM jumps from number to number. This version is smoothed to create an oscillator as it reduces whipsaws (at the expense of lag). You can set the EMA Length to 1 to go back to the original.
Some notes:
Michael Zahorchak called it the "Zahorchak Method", whereas Greg Morris uses the term "Measure". I'm not totally clear on the change, but Mr. Morris made some changes (covered below), so that may explain the altered name.
The original indicator used moving averages of 5, 15, and 40 weeks. I have converted these to daily numbers as that's the time frame I most commonly trade. You can convert the numbers back by dividing by 5.
The original indicator used the Dow Industrials for the moving averages, however Greg Morris switched to the NYSE Composite due to the advance decline line being based on the NYSE.
Greg Morris removed the 5 period moving average of the NYSE Composite, as it created increased volatility at market tops and bottoms. I tested ZM with the 5 period MA added back in, and I believe removing it creates a superior indicator.
I've added both Multi Time Frame functionality, and the ability to alter moving average lengths. Play around and see what you can come up with.
ZM oscillates between -10 and +10. There are some interesting levels creating between these two numbers (apart from the obvious zero level) - see what you can come up with.
All credit goes to Michael Zahorchak and Greg Morris for the indicator creation. I have simply reproduced their work for the TradingView community as this great indicator wasn't available.
Any queries let me know in the comments or PM me.
DD.
Market EKGShort Summary
This indicator takes the differences in the previous 4 period OHLC inputs, and compares them to the previously closed candle input. The difference is then placed into an oscillator that when all four inputs are scrolled back on, shows an EKG appearing oscillator / volatility measure for traders to use on indexes, tickers and markets that do not allow typical volume based indicators.
Full Summary
Named for its similar appearance to an EKG medical chart, this script takes the difference in relative averages of previous periods in a trend , and compares it to the most recent period input. This can be used as a price based volatility measure, useful in markets that may be limited by no valume measures or other indexes where volatility is useful to meeasure but will not allow volume initializations.
Steps taken
Taking Previous Period OHLC
Taking Previous 3 Periods OHLC Avgs
Difference Between #1 & #2 (Comparing most recent confirmation to relative trend
Plot Results
This RSI Script is intended for public use and can be shared / implemented as needed
Questions? I do not monitor my TradingView inbox. See email address in signature at the bottom of this page for contact information.
Use this script and its calculations as needed! No permission required.
Cheers,
Volume Scale by Price (VSP)Volume Scale by Price (VSP) show volume of bar in y-axis (price-axis) with options below:
1. Number of histogram
* Number of histogram = 0 => do not plot volume histogram
* Number of histogram = 1 => plot volume of 21 lasted bar (bar to bar )
* Number of histogram = 2 => plot volume of 21 bar next histogram 1 (bar to bar )
2. Line width
* Columns width of histogram
3. Volume scale ratio
* Scaling histogram with justifiable ratio depend on time frame and symbol
4. Histogram color
* Color of histogram
Bias And Sentiment Strength (BASS) Indicator by mattzabBias And Sentiment Strength (BASS) Indicator is designed to be a quick visualization as to the market strength.
Pair with Alligator, MACD, or Moving Average lines on your chart for good results.
How to use this indicator:
Blue above 0 is positive sentiment, red below 0 is negative sentiment.
If you have blue above and red below, be cautious! The Bass is telling you that we have a battle between the Bulls and the Bears!
The purple bars are your volume bias. Volume bias can be positive or negative, despite the direction of the overall trend. Positive Volume Bias along with Bullish Blue Sentiment is a great sign! Go Long! If you have Bullish Sentiment and have a negative Volume Bias, be cautious! Price may not be moving with much conviction, and may be subject to reversal!
This is basically several different histograms overlaying one another, and they are blue above 0 and red below 0.
MACD Histogram - Standard MACD Histogram here.
RSI Histogram - This is a standard RSI. It has been adjusted to "oscillate" above and below zero, which would be the 50 line on a normal RSI chart.
Slow Stochastic Histogram - This is a slow stochastic with a 21 Period K, 14 Period D, and 14 Smoothing K. The "oscillator" histogram is formed by subtracting K from D.
Awesome Oscillator - This is a standard Awesome Oscillator
Alligator Oscillator - This is formed by adding (lips + teeth) + (teeth - jaw)
Volume Bias - The Volume Bias is displayed as purple bars, and is calculated by a highly sophisticated and complex algorithmic function called subtraction. It's just the 30 Period Volume-Weighted Moving Average Minus the 30 Simple Moving Average.
Enjoy!
TrendFlex Oscillator - Dr. John EhlersHot off the press, I present this NEW "TrendFlex Oscillator" employing PSv4.0, originally formulated by Dr. John Ehlers for TASC - February 2020 Traders Tips. John Ehlers might describe it's novel characteristics as being a reversal sensitive near zero-lag averaging indicator retaining the TREND component. Also, I would add that irregardless of the sampling interval, this indicator has a bound range between +/-2.0 on "1 second" candles all the way up to "1 month" candle durations. This indicator also has a companion indicator entitled "Reflex Oscillator". I have published it in tandem with this one in my scripts profile.
One notable difference between this and the original formulation is that I have added an independent control for the Super Smoother. This "tweak" is enabled by applying the override and adjusting it's period. There is a "Post Smooth" input() that "tweaks" the internal TrendFlex EMA too. Keep in mind that my intention of adding tweaks is solely for experimentation with the original formulation.
I also added adjustable levels for those of you that may wish to employ alertcondition()s to this indicator somehow. Providing a more utilitarian approach, I created this with an easy to use reusable function named trendflex(). As always, I have included advanced Pine programming techniques that conform to proper "Pine Ettiquette". Being this is one of John Ehlers' first two simultaneously released indicators for 2020, I felt a few more bells and whistles were appropriate as a proper contribution to the Tradingview community.
Features List Includes:
Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting
AND much, much more... You have the source!
The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. 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. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
Reflex Oscillator - Dr. John EhlersHot off the press, I present this NEW "Reflex Oscillator" employing PSv4.0, originally formulated by Dr. John Ehlers for TASC - February 2020 Traders Tips. John Ehlers might describe it's novel characteristics as being a reversal sensitive near zero-lag averaging indicator retaining the CYCLE component. Also, I would add that irregardless of the sampling interval, this indicator has a bound range between +/-2.0 on "1 second" candles all the way up to "1 month" candle durations. This indicator also has a companion indicator entitled "TrendFlex Oscillator". I have published it in tandem with this one in my scripts profile.
One notable difference between this and the original formulation is that I have added an independent control for the Super Smoother. This "tweak" is enabled by applying the override and adjusting it's period. There is a "Post Smooth" input() that "tweaks" the internal Reflex EMA too. Keep in mind that my intention of adding tweaks is solely for experimentation with the original formulation.
I also added adjustable levels for those of you that may wish to employ alertcondition()s to this indicator somehow. Providing a more utilitarian approach, I created this with an easy to use reusable function named reflex(). As always, I have included advanced Pine programming techniques that conform to proper "Pine Etiquette". Being this is one of John Ehlers' first two simultaneously released indicators for 2020, I felt a few more bells and whistles were appropriate as a proper contribution to the Tradingview community.
Features List Includes:
Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting
AND much, much more... You have the source!
The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. 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. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
[e2] Reflex & TrendflexNew Indicator from John F. Ehlers issued in the February 2020 Technical Analysis of Stocks and Commodities article "Reflex: A New Zero-Lag Indicator"
This indicator includes both studies described in the article and intend to significantly reduce the lag of the signal compared to other oscillators.
Reflex for the cycle component and is more sensitive to major reversals, Trendflex for the trend component.
Pivot Max range as the borders for top and bottom reading of the indicators (the script will plot separate borders for both components) and divergences were added.
Divergence function is the interpretation of built-in divergence script, optimized the code and added option to show real-time divs (without offset), all credits to ...)
daily*tip: I must say that very quickly I began to realize how fragmented and imperfectly modern economic knowledge is and how little can be taken from fundamental science in terms of practical recipes. (c) Andrey Movchans.
stay safe ;)
BEST Dollar Cost AverageHello traders
This is an upgraded version of my Dollar Cost Average (Data Window) script
1 - What is Dollar-Cost Averaging ( DCA )?
Dollar-Cost Averaging is a strategy that allows an investor to buy the same dollar amount of investment at regular intervals. The purchases occur regardless of the asset's price.
I hope you're hungry because that one is a biggie and gave me a few headaches. Happy that it's getting out of my way finally and I can offer it
🔸 This indicator will analyze for the defined date range, how a dollar-cost average ( DCA ) method would have performed (green panel) versus investing all the hard earnt money at the beginning (orange panel)
=> green versus orange
2- What's on the menu today?
My indicator works with all asset classes and with the daily/weekly/monthly inputs.
⚠️⚠️⚠️ However, results are only visible on the DAILY timeframe chart
As always, let's review quickly the different fields so that you'll understand how to use it (and I won't get spammed with questions in DM ^^)
🔸 Use current resolution: if checked will use the resolution of the chart
🔸 The timeframe used for DCA: different timeframe to be used if Use current resolution is unchecked
🔸 Amount invested in your local currency: The amount in Fiat money that will be invested at each period selected above
🔸 Starting Date
🔸 Ending Date
🔹 The script screenshot shows a DCA with 100 USD invested daily from 01.01.2017 to 01.28.2020
3- Bonus (DATA WINDOW)
🔸 Please check this screenshot to understand what you're supposed to see: Data window
And a quick video that I did months ago explaining how we can use this data window effectively
4 - Specifications used
I got the idea from this website dcabtc.com and the result shown by this website and my indicator are very interesting in general and for your own trading
The formula used for the DCA calculation is the one from the Investopedia website.
Best regards and best of luck
Dave
Volatility Stop MTFThis is a multi-timeframe version of our Volatility Stop , an ATR-based trend detector that can be used as a stop.
► Timeframe selection
The higher timeframe can be selected using 3 different ways:
• By steps (60 min., 1D, 3D, 1W, 1M, 1Y).
• As a multiple of the current chart's resolution, which can be fractional, so 3.5 will work.
• Fixed.
Note that you can also use this indicator without the higher timeframe functionality. It will then behave as our normal Volatility Stop would.
► Stop breaches
Two modes of stop-breaching logic can be selected.
• In the default, Early Breach mode, the stop is considered breached when a bar at the chart's current resolution breaches the higher timeframe stop.
• You may also choose to calculate breaches on the higher timeframe information only.
Choosing the Early Breach mode has the advantage of generating faster exits. It will create a state of limbo where the stop has been breached but the Volatility Stop trend has not yet reversed. The impact of detecting earlier exits to minimize losses comes, as is usually the case, at the cost of a compromise: if the stop is breached early in a long trend, the indicator will then spend most of that trend in limbo. Sizeable portions of a trend can thus be missed.
A few options are provided when you use Early Breach mode:
• A red triangle can identify early breaches (default).
• You can color bars or the background to identify limbo states.
When in limbo, the color used to plot the indicator's line or shapes will always be darker.
► Alerts
Five pre-defined alerts are supplied:
• #1: On any trend change.
• #2: On changes into an uptrend.
• #3: On changes into a downtrend.
• #4: Only on breaches of the uptrend by the chart's bars (Early Breach mode). Will not trigger on a trend change.
• #5: Only on breaches of the downtrend by the chart's bars (Early Breach mode). Will not trigger on a trend change.
As usual, alerts should be configured to trigger Once Per Bar Close . When creating alerts, you will see a warning to the effect that potentially repainting code is used, even if the indicator's default non-repainting mode is active. The warning is normal.
► Other features
• You can color bars using the indicator's up/down state. When bars are colored, up bars are more brightly colored.
• The HTF line is non-repainting by default, but you can allow it to repaint.
• You can confirm the higher timeframe used by displaying it at a selectable distance from the last bar on the chart.
• Choice of 2 color themes.
• Choice of display as a line, circles, diamonds or arrows. The line can be used with the other shapes. If no line is required, set its thickness to zero.
Enjoy!
Look first. Then leap.
Time Series Lag Reduction Filter by CryptorhythmsTime Series Lag Reduction Filter by Cryptorhythms
Description
A little filter to reduce lag on any time series data. Here we use an EMA to demonstrate how it works, but you could use it in many different ways/appications.
This method can cause overshoot if you get too aggressive with the "lagReduce" setting. In this case lower the lagReduce variable.
👍 We hope you enjoyed this indicator and find it useful! We post free crypto analysis, strategies and indicators regularly. This is our 76th script on Tradingview!
How To Set Backtest Time Ranges
Example how to set the time range window to be backtested for both entries and exits. Additional examples are also included showing how to set the date range and toggle plot visibility.
By incorporating this code with your own strategy's logic, it will allow you to backtest various time windows.
Much gratitude to @LucF and @a.tesla2018 for help with including ':1234567' for time ranges on weekends. Thank you both!
NOTICE: This is an example script and not meant to be used as an actual strategy. By using this script or any portion thereof, you acknowledge that you have read and understood that this is for research purposes only and I am not responsible for any financial losses you may incur by using this script!