NEXT Stochastic 3xVW (Triple Volume Weighted)Overview:
This responsive version of the Stochastic oscillator modifies and extends the original to incorporate volume. It does so on 2 levels: by using Volume-Weighted Moving Average (VWMA) as input and applying a triple volume weighting filter within the internal algorithm, intelligently blending volume with what is otherwise pure momentum/distribution analysis. The result is more binary-like curve behavior (%K and %D oscillator lines), whose polarizing movement acts as both a signal and filter.
Below is a screenshot comparing NEXT Stochastic 3xVW with default settings to the original Stochastic oscillator on NQ M1 chart.
Application and Strategy Ideas:
NEXT Stochastic 3xVW is intended to be used like the original Stochastic oscillator within the context of technical analysis: identifying overvalued (above upper limit) and undervalued (below lower limit) price action, as well as establishing a bias baseline (bullish if over 50; bearish if under 50). Higher NEXT Stochastic 3xVW bottoms compared to lower price bottoms signify bullish divergence; lower NEXT Stochastic 3xVW tops compared to higher price tops signify bearish divergence. Trading %K/%D line crossing is also a popular strategy, with %K crossing over %D indicating bullish sentiment and %K crossing under %D indicating bearish sentiment.
Below is a screenshot showing NEXT Stochastic 3xVW overbought/oversold intraday strategy on SPY M1 chart. NEXT Stochastic 3xVW is set to 5,10,1,3 with long signal issued at lower limit of 30 and short at upper limit of 70.
Input Parameters:
VWMA Length - controls the averaging length of the volume-weighted moving average (based on close price and volume); used as Stochastic input
%K Length - volume-driven averaging length of the %K oscillator line - this is the faster of the two Stochastic lines
%K Smoothing - volume-driven smoothing factor of the %K line
%D Smoothing - volume-driven averaging length of the %D oscillator line (a %K derivative, post smoothing) - this is the slower of the two Stochastic lines
Upper Limit - the NEXT Stochastic 3xVW level above which market is considered overbought, default is 80
Base Bias - the NEXT Stochastic 3xVW level above which market bias is considered bullish, and below bearish
Lower Limit - the NEXT Stochastic 3xVW level below which market is considered oversold, default is 20
Signals and Alerts:
Discover and visualize NEXT Stochastic 3xVW strategies using the companion NEXT Strategy Visualizer indicator. While the %K/%D cross alerts can be set via NEXT Stochastic 3xVW indicator, the Strategy Visualizer will only plot long/short signals when %K or %D cross over or under overbought/oversold levels (as hown in the above SPY M1 screenshot). That being said, the next version of the Strategy Visualizer will also support %K/%D crosses.
Here is how to set NEXT Stochastic 3xVW %K/%D crossing alerts: open a chart, attach NEXT Stochastic 3xVW, and right-click on chart -> Add Alert. Condition: Next Stochastic >> %K >> Crossing >> Next Stochastic >> %D
Next
Wayne's Pivots ProThere is a public version of this indicator titled "Wayne's Pivots" if you would like to try out something similar to this indicator.
Wayne's Pivots Pro is named after Wayne McDonnel who came up with this indicator's pivot trading methodology. Wayne's Pivots are only one part of his methodology, but these pivots are the most critical part. They are frequently applied to supplement other trading methodologies as well. There are 3 key features that separate Wayne's Pivots specifically from every other pivot point indicator out there.
1. Midpoint Pivots
2. Biased Pivots
3. Next Period's Pivots
Understand that this indicator is supposed to be used, according to the methodology, alongside a fundamental bias. If you have not done fundamental research to know if you're a bull or bear on an asset, then you will likely not be using these pivots correctly. They do not tell you which direction the market will move. It tells you how far and how long a trade may go depending on which way you bias the pivots, and if your fundamental view was correct. This is trade planning tool for your entries and exits.
Breaking each point down:
1. Midpoint Pivots
If you take regular pivots (S#, R#), and get a histogram of every time price closed at or above each level, you generally end up with an even distribution. By adding midpoint levels you are doubling the amount of data, and increasing the resolution of the histogram. While these extra levels don't necessarily give us entries or exits, they do tell us when price doesn't quite reach a major support or resistance level. Midpoint pivot levels are calculated by finding the midpoint between each pivot level, and are labeled from the bottom up starting at M0 (Midpoint 0).
2. Biased Pivots
The traditional rules for trading pivot points are to buy support levels and sell resistance levels. In Wayne's methodology, we see pivots as a set for entries and take profits depending on our bias. It is known that trading the inverse of traditional pivot point rules that you can end up with a reasonable strategy. Biased pivots let us focus on only what matter to us by removing all other pivots, lines, and labels. Only showing us pivots useful to the bias we set.
For example, if you are a bull fundamentally you would set the bullish biased pivots. You would look for an entry in the area between the central pivot and second midpoint (M2), and an exit in the area between R2 and M4.
3. Next Period's Pivots
The third major feature of Wayne's Pivots are the "future" pivots. These are really calculated by taking the current HLC data and plotting it in realtime into the future before there's any data there. When we enter a new trading period, let say the day, we will have little data on the next day's pivots. As the current trading day goes on and gets closer to it's close, we start to see the next day's pivot points firm up. It's at this point that future pivots become actionable to create trading plans for the next day. The next period's pivots are exceptionally useful when scaled up to weekly, monthly, quarterly, and yearly timeframes. Daily, weekly, and monthly are the most commonly used within communities trading Wayne's methodology.
This is a completely rebuilt, professional use version of Wayne's Pivots. It includes many technical upgrades required by professional using Wayne's methodology. I released the original version publicly because it does not have many of the features here included in the Professional's version.
Features in Pro that are not in the public version:
Works on ALL timeframes.
Realtime pivot point updates.
Price levels on the pivots.
Extra pivots. (R3, M5, M0, S3)
All pivots start and end at the correct dates and times. (public version can't due to plot())
Easier to add more features!
Does this mean that you've abandoned the public version of Wayne's Pivots?
Absolutely not. Whenever there is a new feature in the Pro version, I always see if I can add it into the public one. It's just that the way it's built was not how I originally envisioned these pivots to be. If there's ever something that breaks the public version, I'm going to fix it because there's hundreds of people who use it.
I use the public version of Wayne's Pivots perfectly fine with my trading. Why switch to Pro?
Simply put, it's not going to give you the most accurate pivots that a professional would need. The pivots do not print properly on months with more or less than 30 days, and do their worst on short weeks. The public version has been like this ever since I first made it, and the only work around was to completely rebuild it. That's the major reason why I made the public version available to everyone in the first place. On top of all that, I can add way more features and customization options to these pivots than the public ones.
If I have a feature request will you try to implement it?
Absolutely! Some requests do have their limits, but don't be afraid to ask for something you really want. I'll try and implement lots of requested features as time goes on.
Next Chart SignalGives you the signal when 3 MA's are crossing from the higher time frame above the current chart.
Top / Bottom Finder The Top/Bottom Finder is a unique indicator that looks for market tops and market bottoms in real time without repainting or lagging! When this indicator suspects that a market top is forming it changes the background of the chart to bright green. When this indicator suspects that a market bottom is forming it changes the background of the chart to bright red. This is a great confluent signal for other indicators and strategies that focus their trading styles on entries and exits in the top or bottom of the market. There are two settings that you can change depending on what markets you are in and your trading style. If you are looking for very quick scalping opportunities it is best to set the sensitivity setting very low to look for quick changes, but if you are looking for long term market peaks you can turn the sensitivity up. Since this indicator works independently from the time frame it's best to check out different setting on different time frames to see how they agree. For example, if you are looking for a lot of trades on the 4 hour charts you can set the sensitively very low, but this might give similar information if you set the sensitivity very high on the 5 minute charts. The next setting that you can change is the signal quality. The tops and bottoms of trending and ranging markets look very different, to account for this you can change how this indicator responds in both types of market by setting the signal quality very high for tending markets and very low for ranging markets, or somewhere in between for potential break out markets.
This indicator works by a proprietary recursive filtering technique that tries to gauge if a top or bottom is forming in real time.
To start your free four day trial please see the link below to receive access and free tutorials for this indicator!
Aerie OscillatorThe Aerie Oscillator is a next generation momentum indicator that provides clean and easy to read signals of how market momentum is shifting or is about to shift, without ever repainting! It is comprised of four lines with different sensitivities that work together to show you short and long term changes in market momentum. There are two important ways to read this indicator. Firstly, all four of these lines give crossover signals that clue you in on how exactly market momentum may be shifting. Secondly, positive and negative momentum market biases in the market are revealed if the lines are all positive or negative (above or below the zero line), and in the case of an indecisive market the lines stay near the zero line. Traders who are familiar with the MACD will find this momentum indicator to be very intuitive! The first difference between this indicator and the MACD is that it takes a lot for this indicator to give crossover signals and it monitors itself to try and avoid whipsaw signals. The second difference between this indicator and the MACD is that this indicator has much less lag than the MACD! You also have the ability to change how quickly this indicator responds in the settings. When the length is set high it focuses on longer term momentums shifts, while smaller lengths focus on shorter term momentum shifts.
This indicator operates on proprietary algorithms that carefully try to minimize reaction times and whipsaw potentials while measuring how quickly the market is fluctuating.
To start your free four day trial please see the link below to receive access and free tutorials for this indicator!
Project MarsProject Mars is a next generation trend following system that finds a balance between the sensitivity and smoothness needed for well timed trades, without any lagging or repainting. This indicator has two sets of lines that help you with entries and exits with their respective crossover signals. The blue lines work together work together to try to give early signals to emerging trends. When the light blue line is over the dark blue line that is bullish, and when the light blue line is under the dark blue line that is bearish. The red lines work together to confirm new trends, they react slower than the blue lines but add an additional layer of confluence. When the light red line is over the dark red line that is bullish, and when the light red line is under the dark red line that is bearish. If you're looking for longer or shorter term opportunities you can set the lengths of the lines to be longer or shorter. If the lengths of the lines are satisfactory you can still adjust the sensitivity of the blue lines by adjusting the sensitivity setting.
This indicator works by a proprietary de-noising technique that does its best to decide which movements are just market noise and which movements traders should focus on.
To start your free four day trial please see the link below to receive access and free tutorials for this indicator!
Contango-Backwardation-Buschi
English:
This script shows the difference between a future's continuous current contract (e. g. CL1!) and the continuous next contract (e. g. CL2!). Normally, the next contract is more expensive ("Contango" - shown in green). If the next contract is cheaper, the difference is negative ("Backwardation" - shown in red).
A change between Contango and Backwardation often corresponds with stronger price changes.
Deutsch:
Dieses Skript zeigt den Unterschied zwischen dem kontinuierlichen aktuellem Kontrakt eines Futures (z. B. CL1!) und dem kontinuierlichen Folgekontrakt (z. B. CL2!). Im Normalfall ist der Folgekontrakt teurer ("Contango" - angezeigt in grün). Wenn der Folgekontrakt billiger ist, ist die Differenz negativ ("Backwardation" - angezeigt in rot).
Ein Wechsel zwischen Contango und Backwardation korrespondiert häufig mit größeren Preisänderungen.
Posible Next Pivots Script//@posible next pivot
//based in other codes
//Modified by gverdu
study(title="Posible Next Pivots", shorttitle="Next Pivots", overlay=true)
sd = input(false, title="Show Daily Pivots?")
sw = input(true, title="Show Weekly Pivots?")
sm = input(false, title="Show Monthly Pivots?")
sq = input(false, title="Show Quarterly Pivots?")
sy = input(false, title="Show Yearly Pivots?")
pivot = (high + low + close ) / 3.0
intradayTF=1000/interval
dTF=1
wTF=1
mTF=1
TF=isintraday? intradayTF: isdaily? dTF:isweekly? wTF:ismonthly? mTF:0
daily=isintraday?TF:dTF
weekly=isintraday?daily*7:wTF
monthly=isintraday?weekly*4:mTF
yearly=isintraday?monthly*12:12
// changes depending on the current time frame being displayed.
day_offset = daily
week_offset = weekly
month_offset =monthly
year_offset = yearly
//day pivot
dtime_pivot = security(tickerid, 'D', pivot )
plot(sd and dtime_pivot ? dtime_pivot: na, color=blue,title="Next Day Pivot",style=line, linewidth=3, offset=day_offset)
//Next Weeks pivot
wtime_pivot = security(tickerid, 'W', pivot )
plot(sw and wtime_pivot ? wtime_pivot : na, title="Next Weekly Pivot",style=line, color=red,linewidth=3, offset=week_offset)
//Next Months pivot
mtime_pivot = security(tickerid, 'M', pivot )
plot(sm and mtime_pivot ? mtime_pivot: na, color=purple,title="Next Month Pivot",style=line, linewidth=3, offset=month_offset)
//Next Year pivot
ytime_pivot = security(tickerid, '12M', pivot )
plot(sy and ytime_pivot ? ytime_pivot: na, color=orange, title="Next Year Pivot",style=line,linewidth=3, offset=year_offset)
