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Indicators and strategies

Nifty/BankNifty Scanner - RSI, MACD, BB, VWAP1. RSI (Relative Strength Index) Purpose: Measures market momentum and identifies overbought (>70) or oversold (<30) conditions. Benefit: Helps catch potential reversal zones or trend exhaustion points. 📈 2. MACD (Moving Average Convergence Divergence) Purpose: Detects changes in trend direction via crossovers of the MACD line and signal line. Benefit: Flags bullish and bearish momentum shifts, useful for confirming trade entries/exits. 📉 3. Bollinger Bands Purpose: Shows volatility using a moving average with upper/lower bands. Benefit: When price touches the upper/lower bands, it may indicate overextended conditions—potential reversal or breakout areas. 🟠 4. VWAP (Volume Weighted Average Price) Purpose: Tracks the average price traded based on both volume and price. Benefit: Acts as a dynamic support/resistance level, especially useful for intraday trading in Nifty/Bank Nifty. Crossing VWAP often signals institutional buying/selling zones. ✅ Overall Benefits Combines momentum, trend, volatility, and volume-based signals Helps in multi-angle analysis—confirming trades with multiple indicators Useful for intraday and swing trading on Nifty/Bank Nifty Clean visuals and alerts make decision-making faster
Pine Script® indicator
by soansnoble
market relative strengthOverview market relative strength is a custom indicator that visualizes how strong or weak a given asset is compared to a selected market benchmark — such as KOSPI, NASDAQ100, BTC dominance, or total crypto market cap. How It Works The indicator calculates the relative return between the current asset and the selected benchmark over a user-defined period. It then normalizes the difference into a 0–100 score: Above 50 = outperforming the market Below 50 = underperforming the market Above 70 / Below 30 = strong divergence from market trend Use Case This is ideal for identifying assets with strong relative performance, detecting trend leaders or laggards, and rotating positions between sectors or assets based on strength. Customization Choose from a list of market indexes or crypto metrics Set the comparison period and normalization range Visual cues with background shading for strong/weak zones Note This is not the same as RSI. This indicator is based on relative performance to a benchmark, not price momentum.
Pine Script® indicator
by doongmo
Pattern Candlestick - V5This script is an advanced visual tool for technical analysis. It allows you to: Highlight classic and custom patterns. Get a clear visual overview through the use of colors and symbols. *Let me know in the comments if you'd like to see more indicators like this one. ---------------------------------------- ---------------------------------------- 1. Detection of specific “DOJI” candles When a candle has a small body and long wicks. Label: "⧱" 2. “ENGULFING” Pattern (2 candles) Bullish: The second candle is bearish and engulfs the range of the first (which is bullish). Bearish: The second candle is bullish and engulfs the range of the first (which is bearish). Labels: "◧🢆" for bullish, "◨🢅" for bearish. 3. “OVERSHADOW” Pattern (Engulfing variant) A 2-candle pattern where the second candle heavily overshadows the first. Bullish: Second candle is bullish and engulfs a bullish first candle. Bearish: Second candle is bearish and engulfs a bearish first candle. Labels: "◫🢅" or "❚❚🢆" 4. “EFFICIENCY” Pattern (4 candles + FVG) Uses 4 candles to define a structured directional pattern. Complex conditions based on descending or ascending highs/lows that leave behind FVG. Labels: "⟰🢆" and "⟱🢅" 5. “3 IN A ROW” Pattern (3 consecutive candles) Detects 3 consecutive bullish or bearish candles. Labels: "⥔🢆" or "⥕🢅" 6. “4 IN A ROW” Pattern (4 consecutive candles) Same as above, but for 4 bullish or bearish candles. Labels: "⥔⥔🢅" or "⥕⥕🢆" 7. “REJECTION” Pattern (3 candles) A 3-candle pattern where the central candle shows strong rejection compared to the ones before and after it. The middle candle gets strongly pushed back. Labels: "⊻🢅" or "⊼🢆" ------------------------------- ------------------------------- This script is extremely useful for traders and technical analysts, offering: Faster Pattern Recognition: Quickly spot well-known candlestick patterns without manual analysis. Visual Clarity: Uses distinct symbols and colors to make chart reading more intuitive. Customization: Detects not only standard patterns like Doji and Engulfing, but also more complex or personalized setups (e.g. Efficiency, Overshadow). Trade Timing: Helps identify potential entry or exit points based on historically significant formations. Adaptability: Can be used across various markets (stocks, crypto, forex) and timeframes.
Pine Script® indicator
by THG_index
Fibonacci Levels with MACD ConfirmationHow to Understand and Use the Fibonacci Levels with MACD Confirmation Script This custom Pine Script is designed to give traders a clear visual framework by combining dynamic Fibonacci retracement levels, MACD histogram confirmation, and volatility-based swing zones. It aims to simplify trend analysis, improve entry timing, and adapt to various market conditions. How to Interpret the 23.6% & 61.8% Labels These Fibonacci levels represent key retracement zones where price often reacts during trend pullbacks or reversals. The 23.6% level indicates a shallow retracement, useful in strong trends where price resumes early. The 61.8% level is a deeper retracement, often a "last line of defense" before trend invalidation. The script labels these zones with "CC 23.6" and "CC 61.8" when the price crosses them with MACD histogram confirmation: Green label (CC) = bullish confirmation Red label (CC) = bearish confirmation How to Modify Inputs (Manual Adjustments) Input Purpose Default How to Use ATR Period Measures volatility 14 Increase for smoother, slower reactions; reduce for faster swings Min Lookback Minimum bars for swing zone 20 Avoids short-term noise Max Lookback Cap for swing zone scan 100 Avoids excessively wide retracement levels Inverse Candle Chart Flips high/low logic false Enable for inverted analysis or backtesting "opposite logic" How to Use the Inverse Candle Chart Option Activating inverse mode flips candle logic: Highs become negative lows, and vice versa. Useful for: Contrarian analysis Inverse ETFs or short-biased views Backtesting reverse-pattern behavior How to Adjust the Style You can manually personalize the script’s visual appearance: Change line width in plot(..., linewidth=2) for bolder or thinner Fib levels. Change colors from color.green, color.red, etc., to suit your theme. Modify label.size, label.style, and label.color for different labeling visuals. Customize MACD histogram style from plot.style_columns to other styles like style_histogram. How the MACD is Set and Displayed The MACD uses non-standard values: Fast Length = 24 Slow Length = 52 Signal Smoothing = 18 These values slow down the indicator, reducing noise and aligning better with medium- to long-term trends. MACD histogram is plotted directly on the main chart for faster, on-screen decision making. Color-coded histogram: Green/Lime = Bullish momentum increasing or steady Red/Maroon = Bearish momentum increasing or steady How to Use the Indicator in Real-World Trading This indicator is most effective when used to: ✅ 1. Spot High-Probability Trend Continuation Zones In a strong trend, price will often retrace to 23.6% or 61.8%, then resume. Wait for: Price to cross 23.6 or 61.8 MACD histogram rising (bullish) or falling (bearish) "CC 23.6" or "CC 61.8" label to appear 🟢 Entry Example: Price retraces to Fib 61.8%, crosses up with green MACD histogram → take long position ✅ 2. Validate Reversal or Breakout Zones These Fib levels also act as support/resistance. If price crosses a Fib level but MACD fails to confirm, it may be a fake breakout. Use confirmation labels only when MACD aligns. ✅ 3. Add Volatility Context (ATR) for Risk Management The ATR label shows both value and %. Use ATR to: Set dynamic stop-losses (e.g., 1.5x ATR below entry) Decide trade size based on volatility How to Combine the Indicator With Other Tools You can combine this script with other technical tools for a powerful trading framework: 🔁 With Moving Averages Use 50/200 MA for overall trend direction Take signals only in the direction of MA slope 🔄 With Price Action Patterns Use the Fib/MACD signals at confluence points: Support/resistance zones Breakout retests Candlestick patterns (pin bars, engulfing) 🔺 With Volume or Order Flow Combine with volume spikes or order book signals Confirm that Fib/MACD signals align with strong volume for conviction ✅ Trade Setup Summary Criteria Long Setup Short Setup Price at Fib Level At or crossing Fib 23.6 / 61.8 Same MACD Histogram Rising and above previous bar Falling and below previous bar Label Appears Green "CC 23.6" or "CC 61.8" Red "CC 23.6" or "CC 61.8" Optional Filters Trend direction, ATR range, volume, price pattern Same
Pine Script® indicator
by TradeMing
Jim Simons Inspired Quantitative StrategyThis sophisticated indicator implements quantitative trading methodologies inspired by Jim Simons' revolutionary theories and approaches. Rather than simply signaling standard buy/sell points, this advanced tool provides deeper trend analysis through a color-coded system: Green signals indicate strong upward momentum Red signals represent confirmed downward trends Neutral coloration suggests potential trend reversals or transition points The indicator excels on higher timeframes where market patterns become more pronounced, though it demonstrates remarkable versatility across all timeframes. By focusing on mathematical relationships rather than conventional technical indicators, this tool helps traders identify high-probability setups while filtering market noise. Perfect for traders seeking to incorporate quantitative analysis into their strategy without requiring advanced mathematical expertise.
Pine Script® strategy
by finnydolphin
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