Support & Resistance - Volume Based [Splirus]The Support & Resistance - Volume Based indicator is a sophisticated tool designed for TradingView to assist traders in identifying key support and resistance levels based on volume and price action dynamics. Here’s a breakdown of its functionality:
Core Features:
1. Dynamic Support and Resistance Zones:
Automatically detects and plots support and resistance zones using swing highs and lows.
Zones are calculated based on the Average True Range (ATR) to ensure dynamic adaptability to market volatility.
2. Volume Integration:
Incorporates volume data to validate the strength of support and resistance zones.
Highlights zones where volume activity indicates significant market interest.
3. Customizable Trading Modes:
Offers three trading styles: Scalper, Intraday, and Swing, each with adjustable parameters to suit different timeframes and strategies.
4. Breakout and Retest Detection:
Identifies breakouts above resistance or below support.
Tracks retests of broken levels to confirm their validity as new support or resistance.
5. Multi-Timeframe Analysis:
Includes an option to display custom support and resistance levels derived from higher timeframes for enhanced perspective.
6. Visual Enhancements:
Configurable colors and labels for resistance and support zones.
Displays volume labels and key level annotations for clarity.
Settings Overview:
Trading Settings:
Adjust parameters like swing length and retest bar count to refine level detection.
Visual Settings:
Control the appearance of zones, including width, history retention, and color customization.
Alert Conditions:
Alerts for testing, breaking, and retesting support or resistance zones, ensuring traders never miss critical events.
Usage Scenarios:
Intraday Traders: Quickly identify intraday levels to base entries and exits.
Swing Traders: Utilize historical zones to plan trades around significant support and resistance areas.
Scalpers: Benefit from precise, short-term level detection tailored for high-frequency trading.
This indicator is highly versatile, combining technical precision with visual clarity, making it an essential tool for traders aiming to optimize their decision-making in dynamic markets.
Educational
Futuristic Indicator v3 - Enhanced Glow & Strength MetersTo ensure candles are display by script go to trading view settings and uncheck default Candle, Body and Wick to prevent them from plotting over your modified candles.
Futuristic Indicator v3 - Enhanced Glow & Strength Meters: Detailed Breakdown
This Modern styled Pine Script indicator is designed to enhance technical analysis by providing a visually striking OLED-style dashboard with multiple market insights. It integrates trend detection, momentum analysis, volatility tracking, and strength meters into a single, streamlined interface for traders.
1️⃣ Customizable Features for Flexibility
The indicator offers multiple user-configurable settings, allowing traders to adjust the display based on their trading strategy and preferences. Users can toggle elements such as strength meters, volatility indicators, trend arrows, moving averages, and buy/sell alerts. Additionally, background and candle colors can be customized for better readability.
🔹 Why is this useful?
Traders can customize their charts to focus on the data they care about.
Reduces chart clutter by allowing users to toggle features on or off.
2️⃣ Trend Detection Using EMAs
This indicator detects market trends using two Exponential Moving Averages (EMA):
A "Fast" EMA (shorter period) for quick trend shifts.
A "Slow" EMA (longer period) to confirm trends.
Comparison of the two EMAs determines if the trend is bullish (uptrend) or bearish (downtrend).
The indicator colors the trend lines accordingly and adds a trend arrow 📈📉 for quick visual cues.
🔹 Why is this useful?
EMA crossovers are widely used to identify trend reversals.
Provides clear visual cues for traders to confirm entry & exit points.
3️⃣ RSI-Based Momentum Analysis
The indicator integrates the Relative Strength Index (RSI) to gauge market momentum. The momentum value changes color dynamically based on whether it's in bullish (>50) or bearish (<50) territory.
🔹 Why is this useful?
RSI helps identify overbought and oversold conditions.
Detects trend strength by measuring the speed of price movements.
4️⃣ Bullish & Bearish Strength Meters
The indicator quantifies bullish and bearish market strength based on RSI and converts it into a percentage-based meter:
Bullish Strength (Long Strength)
Bearish Strength (Short Strength)
Strength meters are displayed using OLED-styled bars, dynamically changing in real-time.
🔹 Why is this useful?
Allows traders to visually gauge market sentiment at a glance.
Helps confirm if a trend has strong momentum or is losing strength.
5️⃣ Market Volatility Indicator (ATR-Based)
The indicator includes a volatility tracker using the Average True Range (ATR):
ATR is scaled up to provide easier readability.
Higher ATR values indicate higher market volatility.
🔹 Why is this useful?
Helps traders identify potential breakout or consolidation phases.
Allows better risk management by understanding price fluctuations.
6️⃣ Trend Strength Calculation
The indicator calculates trend strength based on the difference between the EMAs:
A higher trend strength value suggests a stronger directional trend.
Displayed as a percentage for better clarity.
🔹 Why is this useful?
Helps traders differentiate between strong and weak trends.
Reduces the likelihood of entering weak or choppy markets.
7️⃣ OLED-Style Dashboard for Market Data
A futuristic OLED-styled table is used to display critical market data in a visually appealing way:
Trend direction (Bullish/Bearish with an arrow 📈📉).
Current price.
Momentum value.
Strength meters (Bullish/Bearish).
Trend strength percentage.
Volatility Meter
The dashboard uses high-contrast colors and neon glow effects, making it easier to read against dark backgrounds.
🔹 Why is this useful?
Provides a centralized view of key trading metrics.
Eliminates the need to manually calculate trend strength.
8️⃣ Modern Style Neon Glow Effects
To enhance visibility, the indicator applies glowing effects to:
Moving Averages (EMAs): Highlighted with layered glow effects.
Candlesticks: Borders and wicks dynamically change color based on trend direction.
🔹 Why is this useful?
Improves readability in low-contrast or dark-mode charts.
Helps traders spot trends faster without reading numerical data.
9️⃣ Automated Buy & Sell Alerts
The script triggers alerts when momentum crosses key levels:
Above 55 → Potential Long Setup
Below 45 → Potential Short Setup.
🔹 Why is this useful?
Alerts help traders react quickly without constantly monitoring the chart.
Reduces the risk of missing critical trade opportunities.
🔹 Final Summary: Why is This Indicator Useful?
This futuristic cyberpunk-styled trading tool enhances traditional market analysis by combining technical indicators with high-visibility visuals.
🔹 Key Benefits:
✅ Customizable Display – Toggle elements based on trading needs.
✅ Trend Detection – EMAs highlight uptrends & downtrends.
✅ Momentum Tracking – RSI-based momentum gauge identifies strong moves.
✅ Strength Meters – Bullish/Bearish power is clearly visualized.
✅ Volatility Insights – ATR-based metric highlights market turbulence.
✅ Trend Strength Analysis – Quantifies trend intensity.
✅ Dashboard – Provides a centralized, easy-to-read data panel.
✅ Cyberpunk Neon Glow – Enhances clarity with stylish aesthetics.
✅ Real-Time Alerts – Helps traders react to key opportunities.
This indicator is designed to be both functional and visually appealing, making market analysis more intuitive and efficient. 🚀
Smart VolumeThis script introduces a unique approach to volume analysis by combining three critical components that work together to identify institutional activity:
1. Adaptive Volume Analysis
- Automatically calculates significant volume thresholds specific to each stock (current bar volume compared to the average of previous 6 bars)
- Unlike standard indicators using fixed multipliers (like 2x average volume), this adapts to each stock's unique trading characteristics
- Example: A 2x volume spike might be significant for AAPL but irrelevant for a volatile small-cap
2. Volume Contraction Pattern (VCP) Detection
- Identifies periods of decreasing volume with precise criteria:
• Requires 6+ consecutive periods of declining volume
• Volume must compress by at least 20% from peak
• Price must remain within a defined channel
- Automatically detects completion of compression patterns
3. RVM (Relative Volatility Measure) Integration
- Measures current volatility against historical averages
- Identifies low-volatility periods that often precede major moves
- When combined with volume compression, signals higher probability setups
How Components Work Together:
- Volume spikes are evaluated against stock-specific thresholds
- VCP detection runs continuously to identify compression patterns
- RVM confirms volatility contraction aligned with volume compression
- When all three align, the indicator signals potential breakout entry
Usage:
1. Monitor volume bars for spikes above adaptive thresholds (bright green/red)|
2. Monitor average volume line turning from white to green indicating volume contraction (the brighter the green the more contraction happened)
2. Watch for green shading at the zero-line indicating volatility compression (RVM)
3. Use the statistics table for more insights
Original Features:
- First indicator to combine adaptive volume thresholds with VCP detection
- Implements stock-specific volume analysis instead of fixed multipliers
- Integrates volatility confirmation with volume patterns
- Provides real-time statistical analysis of compression patterns
Best suited for daily timeframes on liquid stocks where institutional activity is most visible.
Note: While patterns suggest potential moves, always confirm with price action before trading.
Video:
Auto Fibonacci Retracement by YilmazerBelirtilen bar sayısı ve fibonacci değerlerine göre fibonacci düzeltme seviyelerini grafik üzerinde çizer. Eğer grafikte belirtilenden daha az bar var ise bu durumda grafikte yer alan max bar sayısını dikkate alarak çizim yapar.
Draws Fibonacci retracement levels on the chart based on the specified number of bars and Fibonacci values. If the chart has fewer bars than specified, it uses the maximum number of bars available on the chart for drawing.
Palazhy CPR 2025Ver 1 Published on 26 Jan 2025 by J&J. Use this Indicator for educational purpose only as the same is created for educational purpose not for real trading and not any recommendation for trading at any form/platform/market.
Dynamic Ticks Oscillator Model (DTOM)The Dynamic Ticks Oscillator Model (DTOM) is a systematic trading approach grounded in momentum and volatility analysis, designed to exploit behavioral inefficiencies in the equity markets. It focuses on the NYSE Down Ticks, a metric reflecting the cumulative number of stocks trading at a lower price than their previous trade. As a proxy for market sentiment and selling pressure, this indicator is particularly useful in identifying shifts in investor behavior during periods of heightened uncertainty or volatility (Jegadeesh & Titman, 1993).
Theoretical Basis
The DTOM builds on established principles of momentum and mean reversion in financial markets. Momentum strategies, which seek to capitalize on the persistence of price trends, have been shown to deliver significant returns in various asset classes (Carhart, 1997). However, these strategies are also susceptible to periods of drawdown due to sudden reversals. By incorporating volatility as a dynamic component, DTOM adapts to changing market conditions, addressing one of the primary challenges of traditional momentum models (Barroso & Santa-Clara, 2015).
Sentiment and Volatility as Core Drivers
The NYSE Down Ticks serve as a proxy for short-term negative sentiment. Sudden increases in Down Ticks often signal panic-driven selling, creating potential opportunities for mean reversion. Behavioral finance studies suggest that investor overreaction to negative news can lead to temporary mispricings, which systematic strategies can exploit (De Bondt & Thaler, 1985). By incorporating a rate-of-change (ROC) oscillator into the model, DTOM tracks the momentum of Down Ticks over a specified lookback period, identifying periods of extreme sentiment.
In addition, the strategy dynamically adjusts entry and exit thresholds based on recent volatility. Research indicates that incorporating volatility into momentum strategies can enhance risk-adjusted returns by improving adaptability to market conditions (Moskowitz, Ooi, & Pedersen, 2012). DTOM uses standard deviations of the ROC as a measure of volatility, allowing thresholds to contract during calm markets and expand during turbulent ones. This approach helps mitigate false signals and aligns with findings that volatility scaling can improve strategy robustness (Barroso & Santa-Clara, 2015).
Practical Implications
The DTOM framework is particularly well-suited for systematic traders seeking to exploit behavioral inefficiencies while maintaining adaptability to varying market environments. By leveraging sentiment metrics such as the NYSE Down Ticks and combining them with a volatility-adjusted momentum oscillator, the strategy addresses key limitations of traditional trend-following models, such as their lagging nature and susceptibility to reversals in volatile conditions.
References
• Barroso, P., & Santa-Clara, P. (2015). Momentum Has Its Moments. Journal of Financial Economics, 116(1), 111–120.
• Carhart, M. M. (1997). On Persistence in Mutual Fund Performance. The Journal of Finance, 52(1), 57–82.
• De Bondt, W. F., & Thaler, R. (1985). Does the Stock Market Overreact? The Journal of Finance, 40(3), 793–805.
• Jegadeesh, N., & Titman, S. (1993). Returns to Buying Winners and Selling Losers: Implications for Stock Market Efficiency. The Journal of Finance, 48(1), 65–91.
• Moskowitz, T. J., Ooi, Y. H., & Pedersen, L. H. (2012). Time Series Momentum. Journal of Financial Economics, 104(2), 228–250.
Scalping Entry with TP/SL (1:2 R:R) [v6]
Entry Conditions:
A Buy entry is triggered when the price crosses above the EMA (trend confirmation).
A Sell entry is triggered when the price crosses below the EMA.
Stop Loss (SL):
Calculated using ATR (Average True Range) multiplied by a factor you can adjust (atrMultiplier).
Take Profit (TP):
Calculated using a fixed Risk-to-Reward ratio (riskRewardRatio), defaulted to 1:2.
Visualization:
Entry lines (solid green for Buy, red for Sell).
TP lines (blue dotted) and SL lines (red or green dotted).
Labels for entry points (BUY/SELL).
RSI Overbought/Oversold Strategy - Haisreeit should be work 4hrs 100% this 80 over bought and 20 over sold straregy.
Sweaty Palms 9/21 EMAThe "Sweaty Palms 9/21 EMA" script is designed to help traders identify short-term and medium-term momentum trends using two Exponential Moving Averages (EMAs). The 9-period EMA is ideal for tracking immediate price movements, while the 21-period EMA provides a broader view of the trend. Together, they offer valuable insights into potential entry and exit points for trades.
This script allows users to customize the lengths of both EMAs to fit their trading style. By default, the 9 EMA is displayed in green, and the 21 EMA in yellow, making it easy to distinguish between the two. Users also have the option to toggle the visibility of each EMA, providing flexibility to focus on specific trends.
Dynamic labels are included to enhance usability by displaying the EMA lengths near the most recent bar on the chart. These labels update automatically, ensuring that users always have clear and relevant information at a glance. The bold, color-coded lines further enhance the visual appeal, making the chart easy to interpret even during fast-moving markets.
This script is a valuable tool for both swing and intraday traders. By monitoring crossovers between the 9 EMA and 21 EMA, traders can identify potential trend reversals or confirmations. Additionally, pullbacks to the 9 EMA can signal possible entry points, while the 21 EMA can act as a reliable trailing stop or trend filter. Overall, this script provides a clean, efficient way to analyze price momentum and make informed trading decisions.
EMA RSI Strategy krit test1This script implements strategy with the specified conditions. Key features include:
EMA Crossover Signals:
Buy signal: EMA (6) crosses above EMA (82).
Sell signal: EMA (6) crosses below EMA (82).
RSI Conditions:
Buy signals are restricted when RSI > 70 (overbought zone).
Sell signals are restricted when RSI < 22 (oversold zone).
Candle Conditions:
Buy signal: Current candle closes at a higher high.
Sell signal: Current candle closes at a lower low.
Sweaty Palms MA (50/100/200 + 250)The "Sweaty Palms MA (50/100/200 + 250)" script plots four customizable Moving Averages (MAs) to help traders analyze trends across different timeframes. It includes the 50, 100, and 200-length MAs for short, medium, and long-term trend analysis, with an optional 250-length MA for additional insights. Users can choose from five different MA types: Simple (SMA), Exponential (EMA), Weighted (WMA), Relative (RMA), and Hull (HMA), offering flexibility to fit various trading strategies.
Each MA is color-coded for easy identification: blue for the 50-length MA, orange for the 100-length MA, purple for the 200-length MA, and white for the optional 250-length MA. The script also features dynamic labels placed near the most recent bar, displaying the length and type of each MA. These labels update automatically as new bars are added, ensuring that the information is always current and accessible.
This script is ideal for traders looking to identify support and resistance levels, track momentum trends, and validate trading setups across multiple timeframes. The ability to toggle the 250-length MA and adjust MA types and lengths makes it a versatile tool for both swing and intraday trading. Whether you’re monitoring crossovers, evaluating market direction, or confirming long-term trends, this indicator provides the clarity and functionality needed to make informed decisions.
Box BreakoutAn indicator that involves "breaking boxes" could refer to a box breakout strategy, often used to identify price consolidations and subsequent breakouts. Here's how it works:
Box Breakout Indicator
What is it? A box breakout strategy involves identifying a range-bound price movement (a consolidation phase) that forms a "box" on the chart. The price moves within a defined high and low range for a period of time, creating the top and bottom edges of the box.
Lukhi EMA Crossover_TWL strategy### Description of the Script
This Pine Script implements the **Lukhi EMA Crossover_TWL Strategy** for use on TradingView. It is designed to generate buy and sell signals based on an Exponential Moving Average (EMA) crossover combined with Relative Strength Index (RSI) confirmation. The strategy also incorporates capital management features such as stop-loss and take-profit levels, along with detailed entry labels and failure indications. Here's a detailed breakdown:
---
### **Features**
1. **Customizable Parameters**:
- **Capital**: Define the total trading capital (`₹15,000` by default).
- **Risk per Trade**: Set the maximum amount you are willing to risk per trade (`₹1,000` by default).
- **Target Profit per Trade**: Define the desired profit per trade (`₹5,000` by default).
- **Lot Size**: Specify the number of contracts/lots for the trade (`75` by default for Nifty).
- **Stop-Loss Distance**: Use a fixed point-based stop-loss (`20` points by default).
2. **Indicators**:
- **Exponential Moving Averages (EMAs)**:
- Short EMA (`9-period`) and Long EMA (`21-period`).
- Used to identify trend direction and crossover signals.
- **Relative Strength Index (RSI)**:
- Configurable `14-period` RSI.
- RSI levels help confirm overbought/oversold conditions.
3. **Entry Signals**:
- **Buy Signal**: Triggered when the short EMA crosses above the long EMA and RSI is above 50.
- **Sell Signal**: Triggered when the short EMA crosses below the long EMA and RSI is below 50.
4. **Exit Logic**:
- Stop-loss and take-profit levels are dynamically calculated based on the risk per trade and position size.
- The script automatically exits the trade when either the stop-loss or take-profit levels are reached.
5. **Visual Elements on Chart**:
- **EMA Lines**:
- Plots the short EMA (blue) and long EMA (orange) on the chart for easy visualization.
- **Buy and Sell Labels**:
- Buy and sell signals are marked on the chart with labels showing:
- Entry price
- Target price
- Stop-loss price
- **Failure Indicators**:
- Displays a red cross on the chart if a stop-loss is hit (indicating a failed trade).
---
### **How It Works**
1. **Setup**:
- The script calculates the short and long EMAs using the closing prices of the selected asset.
- RSI is calculated for additional confirmation of trade signals.
2. **Signals**:
- A **Buy Signal** is generated when:
- Short EMA crosses above the long EMA.
- RSI is above 50 (indicating bullish momentum).
- A **Sell Signal** is generated when:
- Short EMA crosses below the long EMA.
- RSI is below 50 (indicating bearish momentum).
3. **Risk Management**:
- Position size is determined dynamically using the stop-loss distance and risk per trade.
- Stop-loss and take-profit levels are calculated for both long and short trades.
4. **Trade Execution**:
- The script automatically places orders based on buy/sell signals and exits them when stop-loss or take-profit levels are reached.
5. **Visual Feedback**:
- The chart displays the calculated entry, stop-loss, and target prices for each signal.
- Failed trades (where stop-loss is hit) are marked with a red cross.
---
### **Applications**
- Suitable for trading Nifty and other similar instruments with defined lot sizes.
- Ideal for traders who follow systematic EMA crossover strategies combined with RSI for confirmation.
- Helps in automating entry and exit signals while incorporating robust risk management.
---
### **Usage**
1. Copy the script into TradingView’s Pine Editor.
2. Adjust the input parameters (capital, risk, lot size, stop-loss, etc.) according to your trading requirements.
3. Apply the strategy to your desired chart and timeframe.
4. Monitor the buy/sell labels and review stop-loss or target levels before placing trades.
---
### **Notes**
- This script is configured for educational purposes and should be tested on a demo account before live trading.
- Proper risk management and backtesting are recommended to adapt the strategy to different market conditions.
Lukhi EMA Crossover_TWL StrategyParameter Breakdown:
Capital: ₹15,000.
Risk Per Trade: ₹1,000.
This determines the amount you're willing to lose per trade.
Take Profit Per Trade: ₹5,000.
Your target profit level.
Stop Loss Distance: Adjusted to match practical scenarios (default: 20 points).
How It Works:
Buy Signal:
A trade is entered when the shorter EMA crosses above the longer EMA, and RSI is above 50.
Stop-loss is set at 20 points below the entry price.
Take-profit is calculated to match the risk-reward ratio based on your input.
Sell Signal:
A trade is entered when the shorter EMA crosses below the longer EMA, and RSI is below 50.
Stop-loss is set at 20 points above the entry price.
Take-profit is calculated similarly.
Failure Detection:
Red cross signals on the chart indicate when a trade fails (stop-loss is hit).
Custom RSI + OBV Scalping Indicator 8080A custom indicator combining RSI (Relative Strength Index) and OBV (On-Balance Volume) can be helpful for scalping by merging momentum and volume signals.
DDR_Stochastic (14,3,3) & (50,3,3) with SMA 20Here this script compares Stochastic 14,3,3 with 50,3,3 along with SMA 20 level. Use this indicator with Heikein Ashi Candle
RSI Oversold & Golden Cross//@version=5
indicator("RSI Oversold & Golden Cross", overlay=true)
// Input settings
rsiLength = input.int(14, title="RSI Length")
rsiOversold = input.int(30, title="RSI Oversold Level")
shortEmaLength = input.int(50, title="Short EMA Length")
longEmaLength = input.int(200, title="Long EMA Length")
// Calculate RSI
rsi = ta.rsi(close, rsiLength)
// Calculate EMAs
shortEma = ta.ema(close, shortEmaLength)
longEma = ta.ema(close, longEmaLength)
// Golden Cross condition
goldenCross = ta.crossover(shortEma, longEma)
// RSI Oversold condition
rsiOversoldCondition = rsi < rsiOversold
// Combined condition
signal = goldenCross and rsiOversoldCondition
// Plot EMA lines
plot(shortEma, color=color.blue, title="Short EMA")
plot(longEma, color=color.orange, title="Long EMA")
// Plot buy signals
plotshape(series=signal, location=location.belowbar, color=color.green, style=shape.labelup, title="Buy Signal", text="BUY")
// Background color for RSI Oversold
bgcolor(rsiOversoldCondition ? color.new(color.green, 90) : na, title="RSI Oversold Background")
// Alert conditions
alertcondition(signal, title="Golden Cross + RSI Oversold", message="Golden Cross + RSI Oversold detected!")
FT TrendFT Trend
Overview
The FT Trend is a modern and highly customizable indicator designed for traders seeking to simplify and enhance their trend analysis. Based on the concept of the original Exponential Moving Average (EMA), this script introduces unique enhancements tailored for real-time adaptability and user-friendly customization, setting it apart from traditional EMA indicators.
Key Features
Enhanced EMA Visualization:
Smooth and accurate trendline plotting to provide clearer insights into price movement.
Customizable settings, including period length, line offset, and color, to suit individual trading styles.
Compact and Clean Design:
Removes unnecessary complexity by offering a straightforward focus on trend tracking.
Refined dropdown menu options to limit redundant styles, ensuring simplicity and clarity.
Offset Customization:
Allows traders to shift the EMA line forward or backward on the chart for advanced analysis and prediction.
Optimized Performance:
Built from scratch using Pine Script v6 for improved efficiency and reliability.
Streamlined code structure ensures minimal resource usage on TradingView.
How This Script Differs from Standard EMA Indicators
This script draws its inspiration from the traditional EMA indicator but introduces significant improvements to elevate its usability and functionality:
Custom Offset Adjustment: Unlike standard EMA scripts, FT Trend includes offset customization, allowing traders to anticipate or backtest trends visually.
Simplified User Interface: Unnecessary dropdown options have been removed to provide a cleaner, distraction-free experience.
Enhanced Aesthetic Design: Unique, vivid color schemes and customizable line styles make it more appealing and readable on the chart.
How It Works
Tracks price movement using an Exponential Moving Average formula with user-defined parameters.
Plots the EMA directly on the chart, offering a clear visual representation of market trends.
Offset functionality enables precise analysis of price action relative to the trendline.
Practical Applications
Trend Confirmation: Use the EMA to identify and confirm the current market trend.
Support and Resistance Levels: The EMA often acts as dynamic support or resistance during trending markets.
Entry and Exit Signals: Combine the EMA with other indicators to fine-tune trading signals.
Important Notes
The FT Trend is optimized for all timeframes, making it a versatile tool for intraday, swing, or long-term traders.
While based on the classic EMA concept, this script offers unique flexibility and adaptability not found in standard EMA indicators.
Credits
This indicator is inspired by the original EMA methodology but has been extensively customized and reimagined for modern trading strategies. Full credit is given to the creators of the EMA for their foundational work, which serves as the core idea behind this tool.
Disclaimer
This script is for informational and educational purposes only. Always test on a demo account before applying it to live markets. Proper risk management is crucial when trading.
200 EMA Breakout & Retest Strategy200 EMA Breakout & Retest Strategy
This script is designed for traders who rely on the 200 EMA as a key indicator for trend direction and trade setups. The strategy identifies potential buy and sell opportunities based on breakouts and subsequent retests of the 200 EMA.
How It Works
EMA Breakout Detection:
The script monitors when the price crosses and closes above or below the 200 EMA.
No signal is generated immediately upon the breakout.
Retest Confirmation:
After the breakout, the price must retrace to touch the 200 EMA.
A valid signal occurs only when the price touches the EMA and the candle closes above (for buy) or below (for sell).
Trade Signal Generation:
Once the retest is confirmed:
A Buy Signal is generated if the price closes above the 200 EMA after the retest.
A Sell Signal is generated if the price closes below the 200 EMA after the retest.
The script calculates:
Stop Loss: Placed at the low of the candle for a buy signal and at the high of the candle for a sell signal.
Take Profit: Based on a customizable Risk-Reward Ratio (default is 1:2).
Visual Indicators:
The 200 EMA is plotted on the chart for reference.
Buy/Sell signals are displayed as labels on the chart.
Stop loss and take profit levels are drawn using dotted lines.
Customization Options
EMA Length: Adjustable (default is 200).
Risk-Reward Ratio: Customizable to suit different trading styles.
Who Is This For?
This strategy is ideal for traders who:
Prefer trading with the trend using EMA-based strategies.
Look for precise entry points with confirmation from retests.
Require automated calculation of risk-reward levels.
VWAP, Bollinger Bands, RSI, 5 & 20 EMA, MACDThis script combines the power of multiple key indicators to help you spot the best breakout opportunities and increase your chances of making profitable trades. By leveraging RSI, MACD, Bollinger Bands (BB), 5 & 20 EMAs, and VWAP, it provides a comprehensive approach to market analysis.
How to Use It:
Bullish Setup:
When the price closes above the VWAP.
RSI should be greater than 40, signaling strong market strength.
The 5 EMA acts as support, showing that the trend is likely to continue.
The MACD should show bullish momentum, confirming the buy signal.
Bollinger Bands (BB) should be contracted, indicating that a breakout is likely.
When all these conditions align, it's time to open a long position and aim for a high-reward trade—targeting at least a 1:6 reward-to-risk ratio.
Made by: Wasi Rao
Contact: Instagram - @wasi_rao_
