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Coinbase Premium IndexThe Coinbase Premium Index is a measure of the percentage difference between the price of any coin on Coinbase Pro (USD pair) and the price on Binance (USDT trading pair). It helps differentiate between global and US-specific market sentiment Major benefits: Choose between USD or USDC for the Coinbase pair — they can behave differently in rare but actionable situations. Apply it to any coin, not just BTC. Open any USDT-based chart on any exchange, and the script will automatically compare it with Coinbase’s USD or USDC price. Highlight only active U.S. trading hours, cutting out irrelevant noise. Display key thresholds that signal buying or selling pressure.
Pine Script® indicator
by alx_crpt
ADX BoxDescription: The ADX Box indicator provides traders with a quick and intuitive way to monitor the current trend strength based on the Average Directional Index (ADX), calculated with a customisable period (default: 7 periods). This compact indicator neatly displays the current ADX value rounded to one decimal place, along with a clear directional arrow: Green upward triangle (▲): Indicates that ADX is rising above its moving average, signaling increasing trend strength. Red downward triangle (▼): Indicates that ADX is declining below its moving average, signaling weakening trend strength. Key Features: Small and clean visual representation. Dynamically updates in real-time directly on the chart. Ideal for quick trend strength assessment without cluttering your workspace. Recommended Usage: Quickly identifying whether market trends are strengthening or weakening. Enhancing decision-making for trend-following or breakout trading strategies. Complementing other indicators such as ATR boxes for volatility measurement. Feel free to use, share, and incorporate this indicator into your trading setups for clearer insights and more confident trading decisions!
Pine Script® indicator
by TheDocileTrader
Dynamic Momentum Bands | AlphaAlgosDynamic Momentum Bands | AlphaAlgos Overview The Dynamic Momentum Bands indicator is an advanced technical analysis tool that combines multiple analytical techniques to provide a comprehensive view of market momentum and trend dynamics. By integrating RSI (Relative Strength Index), volatility analysis, and adaptive moving averages, this indicator offers traders a nuanced perspective on market conditions. Key Features Adaptive band calculation based on price momentum Integrated RSI-driven volatility scaling Multiple moving average type options (EMA, SMA, VWMA) Smooth, gradient-based band visualization Optional price bar coloring for trend identification Technical Methodology The indicator employs a sophisticated approach to market analysis: 1. Momentum Calculation Calculates RSI using a customizable length Uses RSI to dynamically adjust band volatility Scales band width based on distance from the 50 RSI level 2. Band Construction Applies a selected moving average type to the price source Calculates deviation using ATR (Average True Range) Smooths band edges for improved visual clarity Configuration Options Core Settings: Price Source: Choose the price data used for calculations RSI Length: Customize the RSI calculation period (1-50) Band Length: Adjust the moving average period (5-100) Volatility Multiplier: Fine-tune band width Band Type: Select between EMA, SMA, and VWMA Visual Settings: Bar Coloring: Toggle color-coded price bars Gradient-based band visualization Smooth color transitions for trend representation Trend Identification The indicator provides trend insights through: Color-coded bands (blue for bullish, pink for bearish) Smooth gradient visualization Optional price bar coloring Trading Applications Trend Following: - Use band position relative to price as trend indicator - Identify momentum shifts through color changes - Utilize gradient zones for trend strength assessment Volatility Analysis: Observe band width changes Detect potential breakout or consolidation periods Use RSI-driven volatility scaling for market context Best Practices Adjust RSI length to match trading timeframe Experiment with different moving average types Use in conjunction with other technical indicators Consider volatility multiplier for different market conditions This indicator is provided for informational purposes only. Always use proper risk management when trading. Past performance is not indicative of future results. Not financial Advise
Pine Script® indicator
by AlphaNatt
Enhanced Candlestick Pattern & Next Move Prediction✅ Added More Patterns: Morning Star 🌅 Evening Star 🌆 Three White Soldiers 📈 Three Black Crows 📉 Piercing Line 🔼 Dark Cloud Cover 🔽 ✅ More Accurate Next Candle Prediction: Combines RSI, MACD, EMA, and Volume Strength Filters out weak signals ✅ Customizable Settings: Adjustable pattern sensitivity Toggle different candlestick patterns ✅ Compact Visualization: Smaller shape markers to prevent chart clutter Trend bar for overall market sentiment ✅ Improved Alerts for Traders 🚨 🔹 What's New? 🔼 Added More Candlestick Patterns for higher accuracy 🔼 Dynamic Trend Filtering to avoid weak signals 🔼 Compact Visualization using smaller markers 🔼 Trend Signal Bar shows market sentiment clearly 🔼 Fully Customizable Inputs to show/hide specific patterns
Pine Script® indicator
by ArunNettoor
Multi-Fibonacci Trend Average[FibonacciFlux]Multi-Fibonacci Trend Average (MFTA): An Institutional-Grade Trend Confluence Indicator for Discerning Market Participants My original indicator/Strategy: Engineered for the sophisticated demands of institutional and advanced traders, the Multi-Fibonacci Trend Average (MFTA) indicator represents a paradigm shift in technical analysis. This meticulously crafted tool is designed to furnish high-definition trend signals within the complexities of modern financial markets. Anchored in the rigorous principles of Fibonacci ratios and augmented by advanced averaging methodologies, MFTA delivers a granular perspective on trend dynamics. Its integration of Multi-Timeframe (MTF) filters provides unparalleled signal robustness, empowering strategic decision-making with a heightened degree of confidence. MFTA indicator on BTCUSDT 15min chart with 1min RSI and MACD filters enabled. Note the refined signal generation with reduced noise. MFTA indicator on BTCUSDT 15min chart without MTF filters. While capturing more potential trading opportunities, it also generates a higher frequency of signals, including potential false positives. Core Innovation: Proprietary Fibonacci-Enhanced Supertrend Averaging Engine The MFTA indicator’s core innovation lies in its proprietary implementation of Supertrend analysis, strategically fortified by Fibonacci ratios to construct a truly dynamic volatility envelope. Departing from conventional Supertrend methodologies, MFTA autonomously computes not one, but three distinct Supertrend lines. Each of these lines is uniquely parameterized by a specific Fibonacci factor: 0.618 (Weak), 1.618 (Medium/Golden Ratio), and 2.618 (Strong/Extended Fibonacci). // Fibonacci-based factors for multiple Supertrend calculations factor1 = input.float(0.618, 'Factor 1 (Weak/Fibonacci)', minval=0.01, step=0.01, tooltip='Factor 1 (Weak/Fibonacci)', group="Fibonacci Supertrend") factor2 = input.float(1.618, 'Factor 2 (Medium/Golden Ratio)', minval=0.01, step=0.01, tooltip='Factor 2 (Medium/Golden Ratio)', group="Fibonacci Supertrend") factor3 = input.float(2.618, 'Factor 3 (Strong/Extended Fib)', minval=0.01, step=0.01, tooltip='Factor 3 (Strong/Extended Fib)', group="Fibonacci Supertrend") This multi-faceted architecture adeptly captures a spectrum of market volatility sensitivities, ensuring a comprehensive assessment of prevailing conditions. Subsequently, the indicator algorithmically synthesizes these disparate Supertrend lines through arithmetic averaging. To achieve optimal signal fidelity and mitigate inherent market noise, this composite average is further refined utilizing an Exponential Moving Average (EMA). // Calculate average of the three supertends and a smoothed version superlength = input.int(21, 'Smoothing Length', tooltip='Smoothing Length for Average Supertrend', group="Fibonacci Supertrend") average_trend = (supertrend1 + supertrend2 + supertrend3) / 3 smoothed_trend = ta.ema(average_trend, superlength) The resultant ‘Smoothed Trend’ line emerges as a remarkably responsive yet stable trend demarcation, offering demonstrably superior clarity and precision compared to singular Supertrend implementations, particularly within the turbulent dynamics of high-volatility markets. Elevated Signal Confluence: Integrated Multi-Timeframe (MTF) Validation Suite MFTA transcends the limitations of conventional trend indicators by incorporating an advanced suite of three independent MTF filters: RSI, MACD, and Volume. These filters function as sophisticated validation protocols, rigorously ensuring that only signals exhibiting a confluence of high-probability factors are brought to the forefront. 1. Granular Lower Timeframe RSI Momentum Filter The Relative Strength Index (RSI) filter, computed from a user-defined lower timeframe, furnishes critical momentum-based signal validation. By meticulously monitoring RSI dynamics on an accelerated timeframe, traders gain the capacity to evaluate underlying momentum strength with precision, prior to committing to signal execution on the primary chart timeframe. // --- Lower Timeframe RSI Filter --- ltf_rsi_filter_enable = input.bool(false, title="Enable RSI Filter", group="MTF Filters", tooltip="Use RSI from lower timeframe as a filter") ltf_rsi_timeframe = input.timeframe("1", title="RSI Timeframe", group="MTF Filters", tooltip="Timeframe for RSI calculation") ltf_rsi_length = input.int(14, title="RSI Length", minval=1, group="MTF Filters", tooltip="Length for RSI calculation") ltf_rsi_threshold = input.int(30, title="RSI Threshold", minval=0, maxval=100, group="MTF Filters", tooltip="RSI value threshold for filtering signals") 2. Convergent Lower Timeframe MACD Trend-Momentum Filter The Moving Average Convergence Divergence (MACD) filter, also calculated on a lower timeframe basis, introduces a critical layer of trend-momentum convergence confirmation. The bullish signal configuration rigorously mandates that the MACD line be definitively positioned above the Signal line on the designated lower timeframe. This stringent condition ensures a robust indication of converging momentum that aligns synergistically with the prevailing trend identified on the primary timeframe. // --- Lower Timeframe MACD Filter --- ltf_macd_filter_enable = input.bool(false, title="Enable MACD Filter", group="MTF Filters", tooltip="Use MACD from lower timeframe as a filter") ltf_macd_timeframe = input.timeframe("1", title="MACD Timeframe", group="MTF Filters", tooltip="Timeframe for MACD calculation") ltf_macd_fast_length = input.int(12, title="MACD Fast Length", minval=1, group="MTF Filters", tooltip="Fast EMA length for MACD") ltf_macd_slow_length = input.int(26, title="MACD Slow Length", minval=1, group="MTF Filters", tooltip="Slow EMA length for MACD") ltf_macd_signal_length = input.int(9, title="MACD Signal Length", minval=1, group="MTF Filters", tooltip="Signal SMA length for MACD") 3. Definitive Volume Confirmation Filter The Volume Filter functions as an indispensable arbiter of trade conviction. By establishing a dynamic volume threshold, defined as a percentage relative to the average volume over a user-specified lookback period, traders can effectively ensure that all generated signals are rigorously validated by demonstrably increased trading activity. This pivotal validation step signifies robust market participation, substantially diminishing the potential for spurious or false breakout signals. // --- Volume Filter --- volume_filter_enable = input.bool(false, title="Enable Volume Filter", group="MTF Filters", tooltip="Use volume level as a filter") volume_threshold_percent = input.int(title="Volume Threshold (%)", defval=150, minval=100, group="MTF Filters", tooltip="Minimum volume percentage compared to average volume to allow signal (100% = average)") These meticulously engineered filters operate in synergistic confluence, requiring all enabled filters to definitively satisfy their pre-defined conditions before a Buy or Sell signal is generated. This stringent multi-layered validation process drastically minimizes the incidence of false positive signals, thereby significantly enhancing entry precision and overall signal reliability. Intuitive Visual Architecture & Actionable Intelligence MFTA provides a demonstrably intuitive and visually rich charting environment, meticulously delineating trend direction and momentum through precisely color-coded plots: Average Supertrend: Thin line, green/red for uptrend/downtrend, immediate directional bias. Smoothed Supertrend: Bold line, teal/purple for uptrend/downtrend, cleaner, institutionally robust trend. Dynamic Trend Fill: Green/red fill between Supertrends quantifies trend strength and momentum. Adaptive Background Coloring: Light green/red background mirrors Smoothed Supertrend direction, holistic trend perspective. Precision Buy/Sell Signals: ‘BUY’/‘SELL’ labels appear on chart when trend touch and MTF filter confluence are satisfied, facilitating high-conviction trade action. MFTA indicator applied to BTCUSDT 4-hour chart, showcasing its effectiveness on higher timeframes. The Smoothed Length parameter is increased to 200 for enhanced smoothness on this timeframe, coupled with 1min RSI and Volume filters for signal refinement. This illustrates the indicator's adaptability across different timeframes and market conditions. Strategic Applications for Institutional Mandates MFTA’s sophisticated design provides distinct advantages for advanced trading operations and institutional investment mandates. Key strategic applications include: High-Probability Trend Identification: Fibonacci-averaged Supertrend with MTF filters robustly identifies high-probability trend continuations and reversals, enhancing alpha generation. Precision Entry/Exit Signals: Volume and momentum-filtered signals enable institutional-grade precision for optimized risk-adjusted returns. Algorithmic Trading Integration: Clear signal logic facilitates seamless integration into automated trading systems for scalable strategy deployment. Multi-Asset/Timeframe Versatility: Adaptable parameters ensure applicability across diverse asset classes and timeframes, catering to varied trading mandates. Enhanced Risk Management: Superior signal fidelity from MTF filters inherently reduces false signals, supporting robust risk management protocols. Granular Customization and Parameterized Control MFTA offers unparalleled customization, empowering users to fine-tune parameters for precise alignment with specific trading styles and market conditions. Key adjustable parameters include: Fibonacci Factors: Adjust Supertrend sensitivity to volatility regimes. ATR Length: Control volatility responsiveness in Supertrend calculations. Smoothing Length: Refine Smoothed Trend line responsiveness and noise reduction. MTF Filter Parameters: Independently configure timeframes, lookback periods, and thresholds for RSI, MACD, and Volume filters for optimal signal filtering. Disclaimer MFTA is meticulously engineered for high-quality trend signals; however, no indicator guarantees profit. Market conditions are unpredictable, and trading involves substantial risk. Rigorous backtesting and forward testing across diverse datasets, alongside a comprehensive understanding of the indicator's logic, are essential before live deployment. Past performance is not indicative of future results. MFTA is for informational and analytical purposes only and is not financial or investment advice.
Pine Script® indicator
by FibonacciFlux
1
Relative StrengthRelative Strength (RS) indicator lets you plot the relative strength of given instrument against another one. It will help you compare relative strength of given assets for the specified timeframe and duration. Why another RS indicator? Many of the existing RS indicators, even those highly rated, work incorrectly. Some of them use close values for calculating RS without any normalization which is grossly incorrect. Then there are few others which work but they have too many parameters to configure which makes it difficult to understand and use. I have tried to keep it as simple as I could and have added tooltips for each config parameter to ensure you are aware of why that parameter is needed. Enjoy!
Pine Script® indicator
by YetAnotherTA
VSA Vol Key VSA Signals (1) No Demand – Bearish Signal Low volume, narrow spread. Price rises, but volume does not increase → Weak market, lack of buyers. If this appears in an uptrend, it may indicate a potential reversal. (2) No Supply – Bullish Signal Low volume, narrow spread. Price declines, but volume does not increase → Weak selling pressure. If this appears in an uptrend, it may confirm the continuation of the uptrend. (3) Stopping Volume – Bullish Reversal Signal Strong price decline, but unusually high volume. Candle shows a long lower wick, closing near the top. Indicates Smart Money absorbing supply, signaling a potential reversal upwards. (4) Climactic Volume – Possible Trend Reversal Extremely high volume with a sharp price increase or decrease. If this occurs after a long trend, it may indicate a trend reversal. Smart Money may be taking profits after a prolonged price movement. (5) Effort vs. Result If volume is high but price movement is weak → Inefficient buying/selling, possible reversal. If volume is high and price moves strongly in the same direction → Trend is likely to continue.
Pine Script® indicator
by baseddev2024
Market Symphony (Dragon Trader)The "Market Symphony (Dragon Trader)" indicator is a powerful technical analysis tool designed for traders seeking to identify potential buy and sell signals in the financial markets. This indicator combines multiple technical indicators into a single, easy-to-interpret visual display, allowing traders to make informed decisions quickly. Key Features: Multi-Indicator Approach: The indicator incorporates a symphony of popular technical indicators, including: Loxxer Moving Average Convergence Divergence (MACD) Relative Strength Index (RSI) Stochastic Oscillator Commodity Channel Index (CCI)1   Velocity Visual Clarity: The indicator utilizes color-coded squares and other shapes to represent buy and sell signals, making it easy to identify potential trading opportunities at a glance. Customizable Settings: Traders can adjust various parameters to fine-tune the indicator to their specific trading style and market conditions. Alert Functionality: The indicator provides real-time alerts for potential buy and sell signals, ensuring that traders never miss a trading opportunity. Bar Coloring: the indicator can color the price bar, to give a better overview of the trend. Repainting Option: The indicator gives the option to allow repainting in some of its calculations. How it Works: The "Market Symphony (Dragon Trader)" indicator analyzes price data using the aforementioned technical indicators. When a confluence of these indicators suggests a potential buy or sell signal, the indicator displays a corresponding visual cue on the chart. Traders can then use this information to make informed trading decisions. Benefits: Simplified Analysis: The indicator consolidates multiple technical indicators into a single display, saving traders time and effort. Improved Accuracy: By considering a range of technical indicators, the indicator can help traders identify more reliable trading signals. Enhanced Decision-Making: The indicator's clear visual cues and real-time alerts empower traders to make confident trading decisions. In Conclusion: The "Market Symphony (Dragon Trader)" indicator is a valuable tool for traders of all experience levels. Its comprehensive approach, visual clarity, and customizable settings make it an essential addition to any trader's arsenal. I hope this description is helpful.
Pine Script® indicator
by DragonTradingFM
Cut Alert - Bullish & Bearish CrossesThis indicator detects trend reversal signals by tracking when a custom oscillator (based on the difference between short and long SMAs of price midpoints) crosses the zero line. It calculates how many bars (cut) have passed since the last cross and sends alerts for both bullish (negative to positive) and bearish (positive to negative) shifts. Each alert includes the direction label, interval, and reset cut value for automated screening or strategy integration.
Pine Script® indicator
by nap422
Multi-Anchored Linear Regression Channels [TANHEF]█ Overview: The 'Multi-Anchored Linear Regression Channels ' plots multiple dynamic regression channels (or bands) with unique selectable calculation types for both regression and deviation. It leverages a variety of techniques, customizable anchor sources to determine regression lengths, and user-defined criteria to highlight potential opportunities. Before getting started, it's worth exploring all sections, but make sure to review the Setup & Configuration section in particular. It covers key parameters like anchor type, regression length, bias, and signal criteria—essential for aligning the tool with your trading strategy. █ Key Features: ⯁ Multi-Regression Capability: Plot up to three distinct regression channels and/or bands simultaneously, each with customizable anchor types to define their length. ⯁ Regression & Deviation Methods: Regressions Types: Standard: Uses ordinary least squares to compute a simple linear trend by averaging the data and deriving a slope and endpoints over the lookback period. Ridge: Introduces L2 regularization to stabilize the slope by penalizing large coefficients, which helps mitigate multicollinearity in the data. Lasso: Uses L1 regularization through soft-thresholding to shrink less important coefficients, yielding a simpler model that highlights key trends. Elastic Net: Combines L1 and L2 penalties to balance coefficient shrinkage and selection, producing a robust weighted slope that handles redundant predictors. Huber: Implements the Huber loss with iteratively reweighted least squares (IRLS) and EMA-style weights to reduce the impact of outliers while estimating the slope. Least Absolute Deviations (LAD): Reduces absolute errors using iteratively reweighted least squares (IRLS), yielding a slope less sensitive to outliers than squared-error methods. Bayesian Linear: Merges prior beliefs with weighted data through Bayesian updating, balancing the prior slope with data evidence to derive a probabilistic trend. Deviation Types: Regressive Linear (Reverse): In reverse order (recent to oldest), compute weighted squared differences between the data and a line defined by a starting value and slope. Progressive Linear (Forward): In forward order (oldest to recent), compute weighted squared differences between the data and a line defined by a starting value and slope. Balanced Linear: In forward order (oldest to newest), compute regression, then pair to source data in reverse order (newest to oldest) to compute weighted squared differences. Mean Absolute: Compute weighted absolute differences between each data point and its regression line value, then aggregate them to yield an average deviation. Median Absolute: Determine the weighted median of the absolute differences between each data point and its regression line value to capture the central tendency of deviations. Percent: Compute deviation as a percentage of a base value by multiplying that base by the specified percentage, yielding symmetric positive and negative deviations. Fitted: Compare a regression line with high and low series values by computing weighted differences to determine the maximum upward and downward deviations. Average True Range: Iteratively compute the weighted average of absolute differences between the data and its regression line to yield an ATR-style deviation measure. Bias: Bias: Applies EMA or inverse-EMA style weighting to both Regression and/or Deviation, emphasizing either recent or older data. ⯁ Customizable Regression Length via Anchors: Anchor Types: Fixed: Length. Bar-Based: Bar Highest/Lowest, Volume Highest/Lowest, Spread Highest/Lowest. Correlation: R Zero, R Highest, R Lowest, R Absolute. Slope: Slope Zero, Slope Highest, Slope Lowest, Slope Absolute. Indicator-Based: Indicators Highest/Lowest (ADX, ATR, BBW, CCI, MACD, RSI, Stoch). Time-Based: Time (Day, Week, Month, Quarter, Year, Decade, Custom). Session-Based: Session (Tokyo, London, New York, Sydney, Custom). Event-Based: Earnings, Dividends, Splits. External: Input Source Highest/Lowest. Length Selection: Maximum: The highest allowed regression length (also fixed value of “Length” anchor). Minimum: The shortest allowed length, ensuring enough bars for a valid regression. Step: The sampling interval (e.g., 1 checks every bar, 2 checks every other bar, etc.). Increasing the step reduces the loading time, most applicable to “Slope” and “R” anchors. Adaptive lookback: Adaptive Lookback: Enable to display regression regardless of too few historical bars. ⯁ Selecting Bias: Bias applies separately to regression and deviation. Positive values emphasize recent data (EMA-style), negative invert, and near-zero maintains balance. (e.g., a length 100, bias +1 gives the newest price ~7× more weight than the oldest). It's best to apply bias to both (regression and deviation) or just the deviation. Biasing only regression may distort deviation visually, while biasing both keeps their relationship intuitive. Using bias only for deviation scales it without altering regression, offering unique analysis. ⯁ Scale Awareness: Supports linear and logarithmic price scaling, the regression and deviations adjust accordingly. ⯁ Signal Generation & Alerts: Customizable entry/exit signals and alerts, detailed in the dedicated section below. ⯁ Visual Enhancements & Real-World Examples: Optional on-chart table display summarizing regression input criteria (display type, anchor type, source, regression type, regression bias, deviation type, deviation bias, deviation multiplier) and key calculated metrics (regression length, slope, Pearson’s R, percentage position within deviations, etc.) for quick reference. █ Understanding R (Pearson Correlation Coefficient): Pearson’s R gauges data alignment to a straight-line trend within the regression length: Range: R varies between –1 and +1. R = +1 → Perfect positive correlation (strong uptrend). R = 0 → No linear relationship detected. R = –1 → Perfect negative correlation (strong downtrend). This script uses Pearson’s R as an anchor, adjusting regression length to target specific R traits. Strong R (±1) follows the regression channel, while weak R (0) shows inconsistency. █ Understanding the Slope: The slope is the direction and rate at which the regression line rises or falls per bar: Positive Slope (>0): Uptrend – Steeper means faster increase. Negative Slope (<0): Downtrend – Steeper means sharper drop. Zero or Near-Zero Slope: Sideways – Indicating range-bound conditions. This script uses highest and lowest slope as an anchor, where extremes highlight strong moves and trend lines, while values near zero indicate sideways action and possible support/resistance. █ Setup & Configuration: Whether you’re new to this script or want to quickly adjust all critical parameters, the panel below shows the main settings available. You can customize everything from the anchor type and maximum length to the bias, signal conditions, and more. Scale (select Log Scale for logarithmic, otherwise linear scale). Display (regression channel and/or bands). Anchor (how regression length is determined). Length (control bars analyzed): • Max – Upper limit. • Min – Prevents regression from becoming too short. • Step – Controls scanning precision; increasing Step reduces load time. Regression: • Type – Calculation method. • Bias – EMA-style emphasis (>0=new bars weighted more; <0=old bars weighted more). Deviation: • Type – Calculation method. • Bias – EMA-style emphasis (>0=new bars weighted more; <0=old bars weighted more). • Multiplier - Adjusts Upper and Lower Deviation. Signal Criteria: • % (Price vs Deviation) – (0% = lower deviation, 50% = regression, 100% = upper deviation). • R – (0 = no correlation, ±1 = perfect correlation; >0 = +slope, <0 = -slope). Table (analyze table of input settings, calculated results, and signal criteria). Adaptive Lookback (display regression while too few historical bars). Multiple Regressions (steps 2 to 7 apply to #1, #2, and #3 regressions). █ Signal Generation & Alerts: The script offers customizable entry and exit signals with flexible criteria and visual cues (background color, dots, or triangles). Alerts can also be triggered for these opportunities. Percent Direction Criteria: (0% = lower deviation, 50% = regression line, 100% = upper deviation) Above %: Triggers if price is above a specified percent of the deviation channel. Below %: Triggers if price is below a specified percent of the deviation channel. (Blank): Ignores the percent‐based condition. Pearson's R (Correlation) Direction Criteria: (0 = no correlation, ±1 = perfect correlation; >0 = positive slope, <0 = negative slope) Above R / Below R: Compares the correlation to a threshold. Above│R│ / Below│R│: Uses absolute correlation to focus on strength, ignoring direction. Zero to R: Checks if R is in the 0-to-threshold range. (Blank): Ignores correlation-based conditions. █ User Tips & Best Practices: Choose an anchor type that suits your strategy, “Bar Highest/Lowest” automatically spots commonly used regression zones, while “│R│ Highest” targets strong linear trends. Consider enabling or disabling the Adaptive Lookback feature to ensure you always have a plotted regression if your chart doesn’t meet the maximum-length requirement. Use a small Step size (1) unless relying on R-correlation or slope-based anchors as the are time-consuming to calculate. Larger steps speed up calculations but reduce precision. Fine-tune settings such as lookback periods, regression bias, and deviation multipliers, or trend strength. Small adjustments can significantly affect how channels and signals behave. To reduce loading time , show only channels (not bands) and disable signals, this limits calculations to the last bar and supports more extreme criteria. Use the table display to monitor anchor type, calculated length, slope, R value, and percent location at a glance—especially if you have multiple regressions visible simultaneously. █ Conclusion: With its blend of advanced regression techniques, flexible deviation options, and a wide range of anchor types, this indicator offers a highly adaptable linear regression channeling system. Whether you're anchoring to time, price extremes, correlation, slope, or external events, the tool can be shaped to fit a variety of strategies. Combined with customizable signals and alerts, it may help highlight areas of confluence and support a more structured approach to identifying potential opportunities.
Pine Script® indicator
by TanHef
7