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Murreymathlines

Fishing with SignalsFishing with Signals HOW DOES IT WORK? Fishing with Signals comprises of 3 indicators 1) Buy / Sell Signals 2) Band for Trend Recognition 3) ADX-DI Trend Identifier Indicator 1 == Buy / Sell Signals The signals are based on moving average exponential rectified by the previous high and low break at any real-time, it recognises the previous specified moving average deviation. If the predefined high and lows are broken along with current candle is closed below the specific moving average then sell is given and vice-versa for buy. The settings are not editable. Indicator 2 == Band for Trend Recognition The band comprises of 200 moving average with exponentially smoothening feature, there are three lines one can identify the trend if candles are below or above the band Indicator 3 == ADX-DI Trend Identifier The indicator gives a multiplication of ADX and the DI+ and DI-values, colour coded for bullish or bearish momentum and shows general market direction and divergence in a simpler visual way than the normal ADX-DI lines, a threshold value cannot be edited. The indicator is plotted relative to the 200 ema and can be seen as a "buffer" against price reversal. The ADX is used to indicate market direction, the existence or nonexistence of a trend and market momentum. Market direction is determined by the levels of the +DI and -DI. The ADX indicator, which varies in value from zero to 100, is the primary momentum indicator, default value is kept at +40 and -40. If the ADX is lowering or rising the DI line plotted will be moving as directed with change in colour and background filling. The Line hovering below and above the "buffer" is changing the colour with rising as navy and falling as maroon with intermittent colour of red and lime which also shows reversal. HOW TO use the indicator? For SHORT ==If the candles are below the Band for Trend Recognition and ADX-DI Trend Identifier is lowering and if the SELL SIGNAL comes one can go short with stop-loss be the close above top band and with momentum be positive. For LONG == If the candles are above the Band for Trend Recognition and ADX-DI Trend Identifier is growing and if the BUY SIGNAL comes one can go Long with stop-loss be the close below lower band and with momentum be negative. CAUTION!! : There will be false buy / sell signals also, where user have to verify with the other two indicators, for confirmation. TARGET in any call = If the trend is up and buy signal comes then target may be trailed till next signal or close below band and vice versa for sell side. USER OPTIONS : Choice of turning on / off the three indicators. VISUAL CHECKS - The user could manually validate the back test results on various assets they would like to use this strategy on before putting it live. USAGE MARKETS : Index Trading / Equities and also well with Commodities and Currencies. TIME FRAME : Timeframe maybe any and as the user likes, still it works well with 5 min for less signals. SETTING THE ALERTS : - Buy and Sell Signal alerts are advisable. HOW TO GET ACCESS Please click on the link / email available in the signature or send me a private message to get access. FEEDBACK Please click on the link/email in the signature or send me a private message for suggestions/feedbacks. DISCLAIMER. I AM NOT A FINANCIAL ADVISOR. THESE IDEAS ARE NOT ADVICE AND ARE FOR EDUCATION PURPOSES ONLY. ALWAYS DO YOUR OWN RESEARCH! Utmost Care is taken to implement the suggestions of users and also tried to keep the chart neat and clean. Greetings!! Drop a mail to edgineer@yahoo.com or Drop a personal message for access. Questions, Help, Discussion -> Telegram: Telegram: @miteysh
Pine Script™ indicator
by GrowMore_Indicators
6
Murrey Math Lines with Manual adjustmentI'm publishing my first script for free. You can see the MurreyMath Lines and Levels now easily for any instrument. How to use you can setup this indicator manually by typing the local top and high points on the chart you can easily find the major HIGH/LOW points by using for example using the Tradingview's built-in "Pivot Points High Low" indicator with setting 144 or 200 periods. you can adjusting the fraction-scale later with setting named "Multiplier" best performing on Daily/Weekly timeframes. But you can use on intraday moves too! Detailed description see below. About The Murrey math lines indicator The Murrey math lines indicator adds horizontal support and resistance lines on a price chart, which, as the author believes, are able to hint at reversals. These lines also provide traders with an understanding of the current market tendency and allows them to see whether there is a potential for a trend reversal. There is an opinion that a trading system based on horizontal Murrey line can provide excellent signals on any type of markets – currency, stock, and even crypto. According to Murrey himself, large investors will behave in the same way in all kinds of markets. Moreover, they can work with the lines on different timeframes, which is an excellent opportunity to follow their capital management rules regardless of the deposit amount. What is the gist of Murrey math lines? Murrey math lines are based on the approach and observations that were made by William Gann , who was famous for his perfect forecasts with the use of different kinds of market symmetry, and one of the most famous technical analysis tools is called Gann Angles. The author himself had significantly adjusted the system and made it easier and clearer for ordinary investors. In Murrey’s opinion, markets will start corrections at some particular price levels, breakouts of and returns to which may provide traders good signals for opening positions. Regardless of the current market trend, the price must either rebound from the level or break the key level, which will point at a boost of the actual trend. Murrey emphasized 8 price levels, marked from 0/8 to 8/8, with 0/8, 4/8, and 8/8 being the most important. Murrey math lines - 4/8 level 4/8 is a middle price level or even a balance line. Prior to a breakout of this line, the price may fluctuate inside a sideways channel. If the price breaks 4/8 to the upside and moves above it, then this area may be considered as good support. However, if this line is broken downwards, it will act as a strong resistance level. Murrey math lines - 8/8 and 0/8 levels 8/8 and 0/8 are very strong obstacles for further movement past them. As a rule, they can be broken because of some important or surprising news, when the actual reading of some macroeconomic indicators is very different from forecasts. More often than not, traders expect either a reversal from this area or at least a serious correction. Also, there is an opinion, that a rebound from 0/8 to the upside is more probable than a rebound from 8/8 to the downside. 8/8 is more often broken to the upside and the price continues the uptrend Murrey math lines - 7/8 and 1/8 levels 7/8 and 1/8 help traders to understand whether to wait for a new impulse or the market movement was quite accidental and the price may start a correction. For example, if the price rebounded from 4/8 to the upside, reached 7/8 but is not moving any higher and just testing 7/8, then one should expect a decline to return to 4/8. However, if the price breaks 7/8, one may assume that the market trend is strong and the instrument may continue growing towards 8/8 or even higher. As for 1/8, the situation is quite the opposite. Murrey math lines - 6/8 and 2/8 levels 6/8 and 2/8 are also pretty strong and traders compare them to 8/8, 0/8, and 4/8. The lines will be very strong if after rebounding from them the price doesn’t break these lines by the closing prices. Murrey math lines - 5/8 and 3/8 levels 5/8 and 3/8 indicate a sideways movement on the market, which happens about 50% of the time or maybe more. However, if market players push the price past one of these lines, it is expected to continue moving in the direction of a breakout. In the case of a breakout of 5/8, the closest upside target is 8/8. If the price breaks 3/8, there is a high probability of further decline towards 0/8. Murrey math lines - -1/8 and +1/8 levels -1/8 and +1/8 are used for some kind of attempt to catch a trend reversal. -1/8 is an extreme support level during a bearish trend, while +1/8 is an extreme resistance during a bullish tendency. A test of these lines indicates that the current trend is weakening. As a rule, the price doesn’t revers here and starts corrections towards 0/8 and 8/8. After that, the previous trend resumes. Murrey math lines - -2/8 and +2/8 levels A breakout of -2/8 and +2/8 indicates a very strong trend on the market. -2/8 is ultimate support during a bearish trend, while +2/8 indicates ultimate resistance during an uptrend. At such moments, Murrey math lines are redrawn. However, the author expected a closing candlestick 4+ bars higher or lower than these lines, and only after that started re-drawing the lines on a chart. Closing thoughts Trading using Murrey math lines provides traders with simple rules for entering the market. We understand that a breakout of a line will only push the price towards the next target levels on a chart, while the unwillingness of the instrument to break a line will result in a correction with specific targets. As a result, we have a strategy that implies trading in the direction of an active trend and when we need to look for a reversal, then there are particular levels, from which the price is highly likely to rebound. However, an ordinary investor may requite much time to remember all lines and watch the price behavior at the moment of breakouts or rebounds in order to grasp this method. Also, there are no clear parameters for different instruments, so one will have to choose parameters manually based on the experience gained while using the indicator. Anyway, a trading method with the use of Murrey math lines is very interesting and unique and may be combined with your existing know-how, thus significantly improving a classic approach to using Murrey lines. Please feel free to comment any question. Roadmap in next year: I'm planning one automatically calculated version, but not so easy to do that for many reasons. This indicator is the free and simplier version in first time.
Pine Script™ indicator
by TanukiTrade
[JRL] Murrey Math LinesMurrey Math Lines are support and resistance lines based on geometric mathematical formulas developed by T. H. Murrey. MM lines are a derivation of the observations of W.D. Gann. Murrey's geometry facilitate the use of Gann's theories in a somewhat easier application. According to Gann's theory, price tends to trend and retrace in 1/8th intervals. The most important MM line levels are the 0/8, 4/8 and 8/8 levels, which typically provide strong support and resistance points. The 3/8 and 5/8 levels represent the low and high of the typical trading range. When price is above the typical trading range, it is considered overbought, and when it is below it is considered oversold. The 2/8 and 6/8 levels provide strong pivot points. Some of the other Murrey Math indicators on TradingView use different formulas and therefore produce varying results. I've checked my indicator against MM indicators on other platforms and it is consistent with those indicators. This indicator also allows users to switch to alternative timeframes for analysis and it includes labels for the MM lines. If you have any suggestions or comments, please leave them below. Cheers!
Pine Script™ indicator
by JRL_6
34
Murreys Math Lines Box OR Ratio PivotsI'm publishing my second script, though nothing extraordinary, I believe there is user group for Murry Math indies and the only "proper one" (According to my usage) I found was of RicardoSantos, here is the link : He developed that script in 2014 and it is in need of update to Pine V4 and I'm doing the needful as its user. All the updates from my end are listed below: 1. Updated to Pine V4 2. Automatic octave selection 3. In auto mode one can switch octave 4. This script is color coded with intention of use on dark theme, one can change the colors to use it on white background with simple few clicks as pinelines have been used Other thing I want to add is that usage of this is not very clear to many users, so I'll do little explaining here; Lets start with what is Octave? Octave is basically distance between square of two whole numbers, this is hard-fast method to calculate, Murry has made it far more complicated to use practically. In mathematical formula terms it could be something like this for script trading at 11890 (CMP) Step 1: Square Root of CMP i.e Square Root of 11890 = 109.041 = Rounded to 109 Step 2: You can either take one whole number higher or lower than 109, which is 108 or 110. We will take 108 Step 3: Square of 108 = 11664 and Square of 109 = 11881 Step 4: Octave => Distance between (Lowlevel) 11664 and (Higherlevel) 11881 I've automated it so you don't need to calculate, but there is also manual entry possible if you want to calculate octaves yourself, there are different ways to calculate and some like to just take High and Low's of the day or week or month, whatever you like. When I used it I did it strictly this way, so automation is based on it. This is very subjective matter so don't ask to change the calculation of this, if I started doing that every second person would ask me to modify it to different calculation..and thats...just not possible to do. This is output for calculation we just did above This is octave shift option (Which basically shifts to next whole number square in above calculation) Normal nomenclature on octaves and important color codes +2/8: Extreme overbought = Blue Color and solid line +1/8: OverBought 8/8: Hardest line to rise above (overbought) = White Color and solid line 7/8: Fast reverse line (weak) 6/8: Pivot reverse line = Yellow Color and solid line 5/8: Upper trading range ---------------------------------------- 4/8: Major reversal line = Green Color and solid line ---------------------------------------- 3/8: Lower trading range 2/8: Pivot reverse line = Blue Color and solid line 1/8: Fast reverse line (weak) 0/8: Hardest line to fall below (oversold) = White Color and solid line -1/8: Oversold -2/8: Extreme Oversold = Yellow Color and solid line Other lines that I've not mentioned color codes for are minor and are usually plotted in dotted format. Resources on complete technique to trade and importance of levels (highly recommended to read carefully before trading), if you don't know how to get this for free don't worry you can just google Murrey math and you will find it somewhere, its just that it would be in little scattered manner. www.scribd.com Enjoy!
Pine Script™ indicator
by Pratik_4Clover
14
GRaB Candles by mattlacoco with MMM by Harold_NL V1.1Update v1.1: GRaB colors now green, red, gray Added Murrey Range lines. Cleaned up the code. GRaB candles and a murrey math "midline" in one script. Some traders using methods of Rob Booker (40% club, trifecta5) like to use both GRaB candles and Murrey Math to combine, or to compare entry and exit moments. Color of candles are as GRaB candles. Midline use: Crossing the midline is a change of color in murrey. Candles closing above the midline would be green and below would be red as murrey candles. Credits: Original script of Raghee Horner's GRaB Candles by Matt Lacoco (BUY BLUE SELL RED). Murrey Math Midline added by Harold van Berk (most code copied from "UCS_Murrey's Math Oscillator_V2" by ucsgears) Candle colors defined by GRaB Green bulish, Red bearish, Gray neutral Dark for close lower than open Light for close higher than open Candles that close above the Murrey Math Middle line would normally be (murrey) green. Below would be (murrey) red. Murrey lines can be switched off in "format" of the indicator.
Pine Script™ indicator
by Harold_NL
3
UCS_Murrey's Math OscillatorThis is a new indicator release, Using the principle of Murrey Math Line Trading Systems. It will be easier for someone to add alerts on an oscillator rather than a overlay. Currently, I did add some aesthetics for those who like to view different colors, can be turned off. Oscillator Color Definition - Green = Above MidLine Red = Below Midline Blue = Below Negative 3rd Quadrant Orange = Above Positive 3rd Quadrant ///////// Planned future Improvement is to consider Wicks as well. Do post your opinions and any improvement. GL.
Pine Script™ indicator
by UDAY_C_Santhakumar
11