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Precision Entry Signals (RSI + MA12 Logic)Description: This script provides precise entry signals based on a clean confluence of MA12 breakouts and RSI momentum, filtered by a VWMA (Volume-Weighted Moving Average) of the RSI. ----------------------------------------------------------------------------------------------------------------- 🔹 Long entry conditions: - Candle opens below the 12-period MA and closes above it - RSI crosses above its VWMA - Previous candle is bearish (additional confirmation) 🔹 Short entry conditions: - Candle opens above the 12-period MA and closes below it - RSI crosses below its VWMA - Previous candle is bullish ---------------------------------------------------------------------------------------------------------------- Once a signal is confirmed, the script automatically draws: Entry line (at close price) Stop Loss line (just below recent lows for long, or above highs for short) Take Profit 1 (1R) Take Profit 2 (2R) Labels are attached to the lines for clarity: ENTRY, SL, TP1, and TP2. ⚠️ Note: This tool only provides entry signals and visual risk/reward guidance. It does not manage exits dynamically. Manual trade management is recommended. This script is intended for active intraday traders, especially on lower timeframes like 3-minute, 5-minute or 15-minute charts. --------------------------------------------------------------------------------------------------------------- 🔧 Recommended companion indicator: For better confirmation and visual tracking of the RSI/VWMA cross logic, it is strongly recommended to also use the companion script: 🔹 Relative Strength Index (with MA based cross signals) → Shows RSI and its moving average visually, with triangle plots on every valid cross. → Matches exactly the RSI/VWMA behavior used in this entry signal script. 📌 Important: After adding the RSI script to your chart, make sure to set: RSI Length = 14 MA Type = VWMA MA Length = 20 This ensures it visually matches the logic used by the entry signal script. Both indicators are fully open source and meant to be used together — especially when trading manually.
Pine Script® indicator
by kurtroelants
1
MTF Candle Direction Forecast + Breakdown🧭 MTF Candle Direction Forecast + Breakdown 🔥📈🔼 This script is a multi-timeframe (MTF) price action dashboard that helps traders assess real-time directional bias across five customizable timeframes — with a focus on candle behavior, trend alignment, and confidence strength. 📌 What It Does For each timeframe, this dashboard summarizes: Current direction → Bullish, Bearish, or Neutral Confidence score (0–100) → How strongly price is likely to continue in that direction Candle strength → 🔥 icon appears if the current candle has a large body relative to its range Trend alignment: 📈 = EMA9 is above EMA20 🔼 = Price is above VWAP Color-coded background to visually reinforce directional state Each row gives you a visual “at-a-glance” readout of what price is doing right now — not in the past. 💡 Why It’s Useful ✅ Direction forecasting based on price action Instead of lagging indicators, this script prioritizes: Candle body-to-range ratio (momentum) Real-time VWAP/EMA structure Immediate price positioning ✅ Confidence is quantified The score (0–100) helps you judge how reliable each directional signal is: 90+ → Strong conviction 50–70 → Mixed but potentially valid <40 → Weak move or early signal ✅ Timeframe confluence at a glance See whether multiple timeframes are aligning directionally — helpful for scalping, day trading, or waiting for multi-timeframe breakout setups. ✅ Visual & intuitive Icons, colors, and layout make it easy to scan your dashboard instead of deciphering charts or code. 🛠️ Adjustable Settings Setting Description Timeframe 1–5 Choose any timeframes to monitor (e.g., 5m, 15m, 1h, 4h) Candle Display Mode Show trend color via emoji (🟢/🔴) or background shading Strong Candle Threshold Adjust the body-to-range % needed to trigger 🔥 strength Bullish/Bearish Background Customize label color coding Neutral Background (opacity) Set transparency or styling for flat/consolidating zones Table Location Place the dashboard anywhere on the chart 🎯 Use Cases Scalpers: Confirm trend across 1m/5m/15m before entering Day Traders: Use confidence score to avoid low-momentum setups Swing Traders: Monitor higher timeframes for trend shifts while tracking intraday noise VWAP/EMA traders: Quickly see when price is reclaiming or losing critical trend levels 🧠 What Makes It Unique? Unlike generic trend meters or mashups of standard indicators, this script: Uses live candle dynamics (not just closes or lagging values) Computes directional bias and confidence together Visualizes strength and structure in a compact, readable interface Let’s you filter by price action, not just indicator alignment 💥 Why Traders Love Will Love It ✅ Instant clarity on which timeframes agree ✅ No more guessing candle strength or trend health ✅ Confidence score keeps you out of weak trades ✅ Works with any strategy — trend following, VWAP reclaim, EMA scalps, even breakouts ✅ Keeps your chart clean — all the context, none of the clutter ⚠️ Transparency🧬 Under the Hood Powered by live candle body analysis, trend structure (EMA9 vs EMA20), and VWAP placement. All scores are generated in real-time — No repainting or lookahead bias: all values are computed with lookahead=barmerge.lookahead_on Confidence scores reflect the current candle only — they do not predict future moves but measure momentum and alignment in real-time Labels update per bar and respond to subtle shifts in candle structure and trend indicators ✅ MTF Trend Snapshot (Live Output Example Shown in Chart Above) This dashboard gives you a fast, visual summary of market trend and momentum across 5 timeframes. Here's what it's telling you right now: 🕔 5 Minute (5m) 📉 EMA Trend: Down 🔼 Price: Above VWAP Direction: Bearish (42) 🟥 Weak bearish bias. Short-term pullback against a stronger trend. Use caution — lower confidence and mixed structure. ⏱️ 15 Minute (15m) 📈 EMA Trend: Up 🔼 Price: Above VWAP Direction: Bullish (73) 🟩 Clean bullish structure with growing momentum. Solid for intraday confirmation. 🕧 30 Minute (30m) 📈 EMA Trend: Up 🔼 Price: Above VWAP Direction: Bullish (77) 🟩 Stronger trend forming. Above VWAP and EMAs — building conviction. 🕐 1 Hour (1h) 📈 EMA Trend: Up 🔼 Price: Above VWAP Direction: Bullish (70) 🟩 Confident, clean trend. Good alignment across indicators. Ideal timeframe for swing entries. 🕓 4 Hour (4h) 🔥 Strong Candle 📈 EMA Trend: Up 🔼 Price: Above VWAP Direction: Bullish (100) 🟩 Full trend alignment with max momentum. Strong body candle + structure — high confidence continuation. 🧠 Quick Takeaway 🔻 5m is pulling back short term ✅ 15m through 4h are fully aligned Bullish 🔥 4h has max confidence — big-picture trend is intact 📈 Ideal setup for momentum traders looking to ride trend with multi-timeframe confirmation Try pinning this dashboard to your chart during live trading to read price like a story across timeframes, and filter out weak setups with low-confidence noise.
Pine Script® indicator
by Daniel_Vin
Liquidity LinesLiquidity Lines Indicator This advanced TradingView indicator identifies key liquidity zones on your price chart by detecting bullish and bearish engulfing candles, which often signify areas where liquidity accumulates. It helps traders visually spot potential support and resistance levels created by market participants’ stop-loss orders or pending orders. Key Features : -Aggregated Bars Option : Smooth out price data by grouping bars together, enabling clearer liquidity zone identification on higher timeframes or noisy charts. -Upper Liquidity Lines : Displays dashed lines at recent highs where bearish engulfing patterns indicate potential resistance or supply zones. -Lower Liquidity Lines : Displays dashed lines at recent lows where bullish engulfing patterns suggest potential support or demand zones. -Customizable Colors : Choose your preferred colors for bullish (default black) and bearish (default white) liquidity lines for better visual distinction. -Automatic Line Cleanup : Maintains chart clarity by automatically removing old liquidity lines after a configurable limit. -Dynamic Alerts : Trigger alerts when price breaches upper or lower liquidity lines, signaling potential breakout or reversal opportunities. Use Cases :
Pine Script® indicator
by The_Forex_Steward
Navier-Cauchy Market Elasticity [PhenLabs]📊 Navier-Cauchy Market Elasticity Version: PineScript™ v6 📌 Description The Navier-Cauchy Market Elasticity (NCME) indicator takes a new step into technical analysis by applying materials science principles to financial markets. Similar to last weeks release utilizing Navier-Stokes dynamics equation this indicator focuses on the elastic interaction of virtual “solids”. Based on elasticity theory used in engineering, NCME treats price movements as material deformations, calculating market stress and strain using proven physics formulas. This unique approach reveals hidden market dynamics invisible to traditional indicators. By implementing Lamé parameters and Young’s modulus calculations, NCME identifies critical stress points where markets exhibit extreme tension or compression. These zones often precede significant price movements, providing traders with advanced warning of potential reversals or breakouts. 🚀 Points of Innovation • First indicator to apply Navier-Cauchy elasticity equations to market analysis • Dynamic stress tensor calculations adapted for one-dimensional price movements • Real-time Poisson ratio adjustments for market-specific elasticity modeling • Gradient-based coloring system that visualizes stress intensity variations • Advanced display modes with customizable visual layers for professional analysis • Physics-based volatility normalization using Young’s modulus principles 🔧 Core Components • Elasticity Engine: Calculates market elasticity using volatility-adjusted Young’s modulus • Stress Tensor System: Computes normal stress values using Lamé parameters (λ and μ) • Strain Measurement: Tracks price displacement relative to historical movement patterns • Dynamic Bands: Statistical deviation bands that adapt to market elasticity changes 🔥 Key Features • Four Display Modes: Choose between Histogram, Line, Both, or Advanced visualization • Five Color Schemes: Modern, Classic, Neon, Ocean, and Fire themes with gradient support • Background Stress Zones: Five distinct zones showing market stress levels visually • Customizable Smoothing: Adjustable period for noise reduction without signal lag • Extreme Value Detection: Automatic marking of critical stress points with visual alerts • Advanced Mode Options: Glow effects, momentum ribbon, and extreme dots toggles 🎨 Visualization • Stress Line: Primary indicator showing real-time market stress with gradient coloring • Histogram Bars: Normalized stress values with dynamic opacity based on magnitude • Reference Bands: Primary and secondary deviation bands for context • Background Zones: Color-coded regions indicating stress intensity levels • Signal Dots: Markers appearing at extreme stress points for easy identification 📖 Usage Guidelines Display Settings • Display Style ○ Default: Advanced ○ Options: Histogram, Line, Both, Advanced ○ Description: Controls visual presentation mode. Advanced offers the most comprehensive view with multiple layers • Smoothing Period ○ Default: 3 ○ Range: 1-50 ○ Description: Moving average periods for noise reduction. Higher values create smoother signals but may introduce lag Elasticity Parameters • Displacement Length ○ Default: 14 ○ Range: 1-100 ○ Description: Lookback period for strain calculation. Shorter periods detect rapid stress changes • Elasticity Length ○ Default: 30 ○ Range: 1-200 ○ Description: Period for volatility-based elasticity calculation. Longer periods provide more stable readings • Poisson Ratio ○ Default: 0.3 ○ Range: 0-0.5 ○ Description: Theoretical elasticity ratio. 0.3 works well for most markets; adjust for specific asset classes ✅ Best Use Cases • Identifying market tension before major breakouts • Detecting compression zones during accumulation phases • Confirming trend strength through stress persistence • Timing reversals at extreme stress levels • Multi-timeframe stress analysis for comprehensive market view ⚠️ Limitations • Requires sufficient price history for accurate elasticity calculations • May produce false signals during unprecedented market events • Works best in liquid markets with consistent volume • Not suitable as a standalone trading system 💡 What Makes This Unique • Physics-Based Foundation: First indicator to properly implement elasticity theory • Academic Rigor: Based on proven Navier-Cauchy equations from materials science • Visual Innovation: Multiple display modes with professional-grade aesthetics • Adaptive Technology: Self-adjusting parameters based on market conditions 🔬 How It Works 1. Strain Calculation: • Measures price displacement over specified period • Normalizes displacement relative to price level 2. Elasticity Determination: • Calculates Young’s modulus using inverse volatility • Updates Lamé parameters based on Poisson ratio 3. Stress Computation: • Applies elasticity theory formula: σ = (λ + 2μ) × ε • Scales result for visual clarity • Applies smoothing to reduce noise 💡 Note: NCME represents a breakthrough in applying physics principles to market analysis. While based on proven scientific formulas, remember that markets are complex systems influenced by human psychology and external factors. Use NCME as part of a comprehensive trading strategy with proper risk management.
Pine Script® indicator
by PhenLabs
Algo Structure [ValiantTrader_]Explanation of the "Algo Structure" Trading Indicator This Pine Script indicator, created by ValiantTrader_, is a multi-timeframe swing analysis tool that helps traders identify key price levels and market structure across different timeframes. Here's how it works and how traders can use it: Core Components 1. Multi-Timeframe Swing Analysis The indicator tracks swing highs and lows across: The current chart timeframe A higher timeframe (weekly by default) An even higher timeframe (monthly by default) 2. Swing Detection Logic Current timeframe swings: Identified when price makes a 3-bar high/low pattern Higher timeframe swings: Uses the highest high/lowest low of the last 3 bars on those timeframes 3. Visual Elements Horizontal lines marking swing points Labels showing the timeframe and percentage distance from current price An information table summarizing key levels How Traders Use This Indicator 1. Identifying Key Levels The indicator draws recent swing highs (red) and swing lows (green) These levels act as potential support/resistance areas Traders watch for price reactions at these levels 2. Multi-Timeframe Analysis By seeing swings from higher timeframes (weekly, monthly), traders can: Identify more significant support/resistance zones Understand the broader market context Spot confluence areas where multiple timeframes align 3. Measuring Price Distance The percentage display shows how far current price is from each swing level Helps assess potential reward/risk at current levels Shows volatility between swings (wider % = more volatile moves) 4. Table Summary The info table provides a quick reference for: Exact price levels of swings Percentage ranges between highs and lows Comparison across timeframes 5. Trading Applications Breakout trading: When price moves beyond a swing high/low Mean reversion: Trading bounces between swing levels Trend confirmation: Higher highs/lows in multiple timeframes confirm trends Support/resistance trading: Entering trades at swing levels with other confirmation Customization Options Traders can adjust: The higher timeframes analyzed Whether to show the timeframe labels Whether to display swing levels Whether to show the info table The indicator also includes price alerts for new swing highs/lows on the current timeframe, allowing traders to get notifications when market structure changes. This tool is particularly valuable for traders who incorporate multi-timeframe analysis into their strategy, helping them visualize important price levels across different time perspectives
Pine Script® indicator
by ValiantTrader_
Moving Average Deviation Rate with MA TypeJapanese below / 日本語説明は下記 This indicator displays moving average deviation rate with the ability to select moving average type with signals and alerts. Price and moving average have the characteristics that when the price moves away from the moving average, it moves back to the moving average. Example: In the chart below, when the deviation rate increases to 2%(green circle), price momentum gradually decreases and it moves back to the moving average. Taking advantage of this characteristic, traders can make decisions to take profit and/or take contrarian trades. Signals can be displayed either on main chart or sub chart when the deviation rate crosses over/under upper/lower band. Alert can be set with the same condition as the signals. ---------------------- 移動平均線乖離率を表示することのできるインジケーターです。 移動平均線タイプを選択できる他、乖離率とアッパーバンド/ロワーバンドとのクロスでシグナルを表示することができます。 価格と移動平均線には、価格が移動平均線から乖離すると、再び移動平均線まで戻ってくるという特徴があります。 この特徴を利用することで、トレーダーは利益確定のタイミングや逆張りでポジションを取るタイミングを図ることができます。 例 以下のチャートでは乖離率が2%付近(黄緑の丸)まで上昇すると、価格の上昇の勢いが衰えて再び移動平均線まで戻っていることが確認できます。 乖離率とアッパーバンド/ロワーバンドがクロスした時に、メインチャートまたはサブチャートのいずれかにシグナルを表示することが可能です。 また、同じ条件でアラートを設定することもできます。
Pine Script® indicator
by FX365_Thailand
ADX con DI+ / DI- e Segnale Visivo (incrocio come trigger)ADX con DI+ e DI- Nei parametri è possibile modificare il Periodo ADX, lo Smoothing ADX e la soglia ADX. Inoltre lo sfondo dell'indicatore si colora e rimane colorato finché la condizione rimane vera: - verde: se DI+ ha incrociato al rialzo il DI- e l'ADX è sopra il valore sella soglia ADX - rosso: se DI- ha incrociato al rialzo il DI+ e l'ADX è sopra il valore sella soglia ADX === ADX with DI+ and DI− In the settings, you can adjust the ADX Period, ADX Smoothing, and the ADX Threshold. Additionally, the background of the indicator changes color and remains colored as long as the condition stays true: Green: if DI+ crosses above DI− and the ADX is above the threshold value Red: if DI− crosses above DI+ and the ADX is above the threshold value
Pine Script® indicator
by Chrispet78
Strong/Weak Candle FinderStrong/Weak Candle Finder (SWCF) Overview: The Strong/Weak Candle Finder (SWCF) is a versatile TradingView indicator designed to help traders identify statistically significant candles based on their size relative to recent historical price action. By analyzing a lookback period, the indicator dynamically calculates a threshold to classify candles as either "strong" (larger than the threshold) or "weak" (smaller than the threshold), providing visual cues directly on your chart. This tool can be invaluable for traders looking to: Spot potential momentum breakouts or high volatility (Strong Candles). Identify periods of consolidation or low volatility (Weak Candles). Gauge shifts in market sentiment based on candle body or range dynamics. How It Works: Candle Size Calculation: You choose how candle size is measured from four methods: High - Low: The full range of the candle. High - Close: The distance from the high to the close. Open - Close: The size of the candle body. Low - Open: The distance from the low to the open. Historical Analysis: The indicator looks back over a user-defined LookBack Period to collect candle sizes. Grouping & Precision: To smooth the distribution, candle sizes are grouped based on the Group Precision Size. This parameter divides the observed range of candle sizes into a set number of "bins," and individual candle sizes are rounded to the nearest representative value of these bins. Percentile Threshold: A dynamic Outlier Pip Value is calculated based on the Outlier Percentile you set. If Display Mode is "Strong Candles," this threshold represents the Nth percentile of the largest candle sizes (e.g., the 80th percentile if Outlier Percentile is 20%). Candles larger than this are marked as "Strong." If Display Mode is "Weak Candles," this threshold represents the Nth percentile of the smallest candle sizes (e.g., the 20th percentile). Candles smaller than this are marked as "Weak." Visual Markers: When a current candle meets the criteria (strong or weak based on your display mode), a configurable shape is plotted above (for strong) or below (for weak) the candle. Resampling: The historical distribution and outlier threshold are recalculated every Resample Period (number of bars) to adapt to changing market conditions. Key Features: Dynamic Thresholds: Adapts to market volatility instead of using fixed pip values. Customizable Candle Definition: Choose from four methods to define what "candle size" means to your strategy. Flexible Display Modes: Focus on either identifying exceptionally strong candles or unusually weak ones. Adjustable Sensitivity: Fine-tune the rarity of signals with Outlier Percentile and Group Precision Size. Visual Chart Markers: Clear, customizable shapes (arrow, circle, etc.) for easy identification. Periodic Recalculation: Ensures the indicator remains relevant as market dynamics evolve. Parameters: Display Mode: Strong Candles: Highlights candles larger than the upper percentile threshold. Weak Candles: Highlights candles smaller than the lower percentile threshold. Resample Period (Candles): How often (in bars) to recalculate the historical distribution and outlier threshold. LookBack Period (Candles): The number of past candles to analyze for the historical distribution. (Note: Plots will only begin after this many bars have loaded on the chart). Group Precision Size: Number of groups to divide the candle size range into for rounding historical sizes. Higher values mean finer precision (less rounding). Outlier Percentile (%): The percentile used to define the threshold for strong/weak candles. Candle Size Method: (High-Low, High-Close, Open-Close, Low-Open). Visuals: Strong Shape: Choose the icon style for strong candles. Weak Shape: Choose the icon style for weak candles. Shape Size: Adjust the size of the plotted icons. How to Use: Strong Candles: May indicate increased momentum, potential breakout confirmations, or high conviction moves. Consider using in trending markets or as a filter for entry signals. Weak Candles: May signal market indecision, low volatility, consolidation phases, or potential exhaustion of a prior move. Can be useful for identifying range-bound conditions or periods to be cautious. Experimentation: Adjust the LookBack Period, Outlier Percentile, and Group Precision Size to match your trading style and the characteristics of the asset you are trading. What constitutes "strong" or "weak" can vary significantly. Confirmation Tool: Use in conjunction with other indicators (e.g., moving averages, RSI, volume) for more robust trading decisions. Important Notes: The indicator requires sufficient historical data (LookBack Period) to initialize. You may not see plots on the chart immediately if there aren't enough bars loaded. Like all indicators, the SWCF is not a standalone trading system and should not be used as the sole basis for financial decisions. Past performance is not indicative of future results. Always use appropriate risk management. We hope you find the Strong/Weak Candle Finder a valuable addition to your trading toolkit!
Pine Script® indicator
by sum484340
Daily Weekly Monthly Highs & LowsThe "DWM HL" indicator is designed to help you quickly identify significant daily, weekly, and monthly high and low price levels directly on your chart. These levels often act as crucial support and resistance zones, providing valuable context for your trading decisions. Key Features: Multi-timeframe Analysis: See daily, weekly, and monthly highs and lows simultaneously. Customizable Colors & Lookback: Personalize the appearance of each timeframe's lines and adjust how many past highs/lows are displayed. Future Projections (Optional): Extend lines forward to easily track potential interactions with historical levels. Recency Gradient (Optional): A subtle color gradient helps you distinguish between more recent and older high/low levels. Enhance your chart analysis and spot potential turning points with this intuitive tool!
Pine Script® indicator
by Leree123
Strongest Bullish Signal Here is your enhanced Pine Script (v6) with the strongest bullish conditions added for maximum clarity and ~70% success potential, including: ✅ Volume breakout over THE MEDIUM MA LENGHT 20 ✅ Momentum 80 Over the median POSITIF ✅ Momentum 80 LOWER - -0.03 ✅ Price above EMA and VWAP BULLISH TREND ✅ MACD bullish curl MACD 12-26 croisé près de 0 ou EMA haussiers ✅ StochRSI oversold bounce STOCH RSI 5-5-10-10 haussier ✅ +DI > -DI and +DI > ADX ✅ RSI < 30 (oversold bounce) ✅ Bullish engulfing candle ✅ Green dot plotted when all conditions are met
Pine Script® indicator
by emilbotezatu
EBOT LEVEL 2 Strongest Bullish Signal Here is your enhanced Pine Script (v6) with the strongest bullish conditions added for maximum clarity and ~70% success potential, including: ✅ Volume breakout over THE MEDIUM MA LENGHT 20 ✅ Momentum 80 Over the median POSITIF - GREEN DOT ✅ Momentum 80 LOWER - -0.03 ✅ Price above EMA and VWAP BULLISH TREND ✅ MACD bullish curl MACD 12-26 croisé près de 0 ou EMA haussiers ✅ StochRSI oversold bounce STOCH RSI 5-5-10-10 haussier ✅ +DI > -DI and +DI > ADX ✅ RSI < 30 (oversold bounce) ✅ Bullish engulfing candle ✅ Green dot plotted when all conditions are met
Pine Script® indicator
by emilbotezatu
Strongest Bullish Signal - EnhancedHere is your enhanced Pine Script (v6) with the strongest bullish conditions added for maximum clarity and ~70% success potential, including: ✅ Volume breakout over THE MEDIUM MA LENGHT 20 ✅ Momentum 80 Over the median POSITIF - GREEN DOT ✅ Momentum 80 LOWER - -0.03 ✅ Price above EMA and VWAP BULLISH TREND ✅ MACD bullish curl MACD 12-26 croisé près de 0 ou EMA haussiers ✅ StochRSI oversold bounce STOCH RSI 5-5-10-10 haussier ✅ +DI > -DI and +DI > ADX ✅ RSI < 30 (oversold bounce) ✅ Bullish engulfing candle ✅ Green dot plotted when all conditions are met
Pine Script® indicator
by emilbotezatu
E BOT Strongest Bullish SignalHere is your enhanced Pine Script (v6) with the strongest bullish conditions added for maximum clarity and ~70% success potential, including: ✅ Volume breakout over THE MEDIUM MA LENGHT 20 ✅ Momentum 80 Over the median POSITIF - GREEN DOT ✅ Momentum 80 LOWER - -0.03 ✅ Price above EMA and VWAP BULLISH TREND ✅ MACD bullish curl MACD 12-26 croisé près de 0 ou EMA haussiers ✅ StochRSI oversold bounce STOCH RSI 5-5-10-10 haussier ✅ +DI > -DI and +DI > ADX ✅ RSI < 30 (oversold bounce) ✅ Bullish engulfing candle ✅ Green dot plotted when all conditions are met
Pine Script® indicator
by emilbotezatu
Enhanced TEMA with Decimal PeriodsImagine you have a special type of moving average line called a TEMA (Triple Moving Average). A TEMA is designed to be even quicker to react to price changes than a regular EMA (Exponential Moving Average), helping traders spot trends faster. What this script does: Super-Precise TEMA Length: Normally, when you set the "length" or "period" for a moving average, you use whole numbers (like 10 days, 20 days). This script lets you be more precise and use decimal numbers for the TEMA's length (like 26.0 days, or even 26.7 days). This allows for very fine-tuning. How it gets the "Decimal" EMA part (if you choose to use it): If you want a TEMA with a length of, say, 26.7: The script first needs to calculate EMAs with a length of 26.7. To do this, it cleverly calculates two regular EMAs: one with a length of 26 and another with a length of 27 (the whole numbers just below and above 26.7). Then, it blends these two EMAs. Since 26.7 is closer to 27, it takes more from the "27-period EMA" and a bit less from the "26-period EMA." This mix gives you an EMA that acts like it has a 26.7 period. Building the TEMA: A TEMA isn't just one EMA. It's made by taking an EMA of an EMA, and then an EMA of that. It's like smoothing the line multiple times, but in a special mathematical way to make it faster. So, this script: -Calculates the first "decimal EMA" (e.g., for 26.7). -Calculates another "decimal EMA" of that first EMA line (again, using 26.7). -Calculates a third "decimal EMA" of the second EMA line (still using 26.7). Finally, it combines these three EMAs using a special TEMA formula to get the final, quick-reacting TEMA line. Option to Switch Off Decimals: There's a setting ("Use Decimal Periods"). If you turn this off, the script will just use regular whole-number EMAs to build the TEMA (it will round down your decimal input, so 26.7 would become 26). Plotting: The final "Enhanced TEMA" line is drawn on your price chart. In Simple Terms: This script gives you a TEMA (a fast-moving average) that you can set up with very precise decimal lengths (like 26.7 instead of just 26 or 27). It does this "decimal magic" by smartly blending two regular EMAs. You can also choose to use it like a normal TEMA with whole numbers if you prefer. The goal is to give traders a very responsive trend-following line that can be fine-tuned to a high degree of precision.
Pine Script® indicator
by Algoworx_automation
RCI @ PeetRank Correlation Index (RCI) was developed. 3 lines of RCI will use in this indicator consisted of fast (9), medium (21) and long(52) You can use this 3 line to open order even though long or short If RCI line higher than 80% mean market in over brough and lower than -80% mean over sole. If RCI line move near zero line mean side way. We have two strategy to position order it is: Against Trend and Follow Trend, both strategy can make money if you understand 3 Line pattern. Against Trend: When medium line and long line move in +80% and medium line cross under long line (dead cross) wait until fast line drop from +80% line and then open short and make money until fast line drop to -80% and take profit. When medium line and long line move in -80% and medium line cross over long line (golden cross) wait until fast line up from -80% line and then open long and make money until fast line reach to +80% and take profit. Follow Trend: When long line move in +80% and medium line move in positive zone mean market in correction period, wait until fast line up from -80% line and then open long and make money until fast line reach to +80% and take profit. When long line move in -80% and medium line move in negative zone mean market in correction period, wait until fast line drop from +80% line and then open short and make money until fast line drop to -80% and take profit.
Pine Script® indicator
by noblejewelry