RSI EMA WMA (hieuhn)Indicator: RSI & EMA & WMA (14-9-45)
This indicator, named "RSI & EMA & WMA", is a versatile tool designed to provide insights into market momentum and trend strength by combining multiple technical indicators.
The Relative Strength Index (RSI) is a popular momentum oscillator used to measure the speed and change of price movements. In this indicator, RSI is plotted alongside its Exponential Moving Average (EMA) and Weighted Moving Average (WMA). EMA and WMA are smoothing techniques applied to RSI to help identify trends more clearly.
Key features of this indicator include:
RSI: The main RSI line is plotted on the chart, offering insights into overbought and oversold conditions.
EMA of RSI: The Exponential Moving Average of RSI smooths out short-term fluctuations, aiding in trend identification.
WMA of RSI: The Weighted Moving Average of RSI gives more weight to recent data points, providing a faster response to price changes.
Additionally, this indicator marks specific RSI levels considered as bullish and bearish trends, helping traders identify potential entry or exit points based on market sentiment.
By combining these technical indicators, traders can gain a comprehensive understanding of market dynamics, helping them make more informed trading decisions.
Pine utilities
Futures Tick and Point Value TableDisplays a table in the upper right corner of the chart showing the tick and point value in USD.
Murrey Math
The Murrey Math indicator is a set of horizontal price levels, calculated from an algorithm developed by stock trader T.J. Murray.
The main concept behind Murrey Math is that prices tend to react and rotate at specific price levels. These levels are calculated by dividing the price range into fixed segments called "ranges", usually using a number of 8, 16, 32, 64, 128 or 256.
Murrey Math levels are calculated as follows:
1. A particular price range is taken, for example, 128.
2. Divide the current price by the range (128 in this example).
3. The result is rounded to the nearest whole number.
4. Multiply that whole number by the original range (128).
This results in the Murrey Math level closest to the current price. More Murrey levels are calculated and drawn by adding and subtracting multiples of the range to the initially calculated level.
Traders use Murrey Math levels as areas of possible support and resistance as it is believed that prices tend to react and pivot at these levels. They are also used to identify price patterns and possible entry and exit points in trading.
The Murrey Math indicator itself simply calculates and draws these horizontal levels on the price chart, allowing traders to easily visualize them and use them in their technical analysis.
HOW TO USE THIS INDICATOR?
To use the Murrey Math indicator effectively, here are some tips:
1. Choose the appropriate Murrey Math range : The Murrey Math range input (128 by default in the provided code) determines the spacing between the levels. Common ranges used are 8, 16, 32, 64, 128, and 256. A smaller range will give you more levels, while a larger range will give you fewer levels. Choose a range that suits the volatility and trading timeframe you're working with.
2. Identify potential support and resistance levels: The horizontal lines drawn by the indicator represent potential support and resistance levels based on the Murrey Math calculation. Prices often react or reverse at these levels, so they can be used to spot areas of interest for entries and exits.
3. Look for price reactions at the levels: Watch for price action like rejections, bounces, or breakouts at the Murrey Math levels. These reactions can signal potential trend continuation or reversal setups.
4. Trail stop-loss orders: You can place stop-loss orders just below/above the nearest Murrey Math level to manage risk if the price moves against your trade.
5. Set targets at future levels: Project potential profit targets by looking at upcoming Murrey Math levels in the direction of the trend.
7. Adjust range as needed: If prices are consistently breaking through levels without reacting, try adjusting the range input to a different value to see if it provides better levels.
In which asset can this indicator perform better?
The Murrey Math indicator can potentially perform well on any liquid financial asset that exhibits some degree of mean-reversion or trading range behavior. However, it may be more suitable for certain asset classes or trading timeframes than others.
Here are some assets and scenarios where the Murrey Math indicator can potentially perform better:
1. Forex Markets: The foreign exchange market is known for its ranging and mean-reverting nature, especially on higher timeframes like the daily or weekly charts. The Murrey Math levels can help identify potential support and resistance levels within these trading ranges.
2. Futures Markets: Futures contracts, such as those for commodities (e.g., crude oil, gold, etc.) or equity indices, often exhibit trading ranges and mean-reversion trends. The Murrey Math indicator can be useful in identifying potential turning points within these ranges.
3. Stocks with Range-bound Behavior: Some stocks, particularly those of large-cap companies, can trade within well-defined ranges for extended periods. The Murrey Math levels can help identify the boundaries of these ranges and potential reversal points.
4. I ntraday Trading: The Murrey Math indicator may be more effective on lower timeframes (e.g., 1-hour, 30-minute, 15-minute) for intraday trading, as prices tend to respect support and resistance levels more closely within shorter time periods.
5. Trending Markets: While the Murrey Math indicator is primarily designed for range-bound markets, it can also be used in trending markets to identify potential pullback or continuation levels.
1995-Present - Inflation and Purchasing PowerGood day, everyone! Today, we're going to look at a chart that's a bit different from the usual price charts we analyse. This isn't just any chart; it's a lens into the past, adjusted for the reality of inflation—a concept we often hear about but seldom see directly applied to our trading charts.
What we have here is an 'Inflation Adjusted Price' indicator on TradingView, and it's doing something quite special. It's showing us the price of our asset, let's say the S&P 500, not just in today's dollars, but in the dollars of 1995. Why 1995, you ask? Well, it's the starting point we've chosen to measure how much actual buying power has changed since then.
So, every point on this red line we see represents what the S&P 500's value would be if we stripped away the effects of inflation. This is the price in terms of what your money could actually buy you back in 1995.
As traders and investors, we're always looking at prices going up and thinking, 'Great! My investment is growing!' But the real question we should ask is, 'Is my money growing in real terms? Can it buy me more than it did last year, or five, ten, or twenty-five years ago?'
This chart tells us exactly that. If the red line is above the actual price, it means that the S&P 500 has not just grown in nominal terms, but it has actually outpaced inflation. Your investment has grown in real terms; it can buy you more now than it could back in 1995.
On the flip side, if the red line is below the actual price, that's a sign that while the nominal price might be up, the real value, the purchasing power, hasn't grown as much or could even have fallen.
This view is crucial, especially for the long-term investors among us. It gives us a reality check on our investments and savings. Are we truly growing our wealth, or are we just keeping up with the cost of living? This indicator answers that.
Remember, the true measure of financial growth is not just the numbers on a chart. It's what you can do with those numbers—how much bread, or eggs, or yes, even houses, you can buy with your hard-earned money
BTC Purchasing Power 2009-20XX! Hello, today I'm going to show you something that shifts our perspective on Bitcoin's value, not just in nominal terms, but adjusted for the real buying power over the years. This Pine Script TAS developed for TradingView does exactly that by taking into account inflation rates from 2009 to the present.
As you know, inflation erodes the purchasing power of money. That $100 in 2009 does not buy you the same amount in goods or services today. The same concept applies to Bitcoin. While we often look at its price in terms of dollars, pounds, or euros, it's crucial to understand what that price really means in terms of purchasing power.
What this script does is adjust the price of Bitcoin for cumulative inflation since 2009, allowing us to see not just how the nominal price has changed, but how its value as a means of purchasing goods and services has evolved.
For example, if we see Bitcoin's price at $60,000 today, that number might seem high compared to its early years. However, when we adjust this price for inflation, we might find that in terms of 2009's purchasing power, the effective price might be somewhat lower. This adjusted price gives us a more accurate reflection of Bitcoin's true value over time.
This script plots two lines on the chart:
The Original BTC Price: This is the unadjusted price of Bitcoin as we typically see it.
BTC Purchasing Power: This line shows Bitcoin's price adjusted for inflation, reflecting how many goods or services Bitcoin could buy at that point in time compared to 2009.
By comparing these lines, we can observe periods where Bitcoin's purchasing power significantly increased, even if the nominal price was not at its peak. This can help us identify moments when Bitcoin was undervalued or overvalued in real terms.
This analysis is crucial for long-term investors and traders who want to understand Bitcoin's value beyond the surface-level price movements. It helps us appreciate Bitcoin's potential as a store of value, especially in contexts where traditional currencies are losing purchasing power due to inflation.
Remember, investing is not just about riding price waves; it's about understanding the underlying value. And that's precisely what this script helps us to uncover
Vertical line at 8 AMThis indicator plots a blue vertical line on the chart when it's 8 AM, providing a clear visual reference of this time point on the TradingView chart.
Gradient Candles
The Gradient Candles indicator is crafted to be a comprehensive replacement for default candlesticks, offering users an enhanced and visually stunning alternative. To experience the intended results and fully immerse in the distinctive features of Gradient Candles, it's recommended to hide the default candlesticks. This ensures that traders can fully appreciate the unique color gradient and dynamic visual representation that this indicator brings to chart analysis.
Designed to elevate chart analysis, Gradient Candles not only offer a fresh perspective on price movements but also captivate users with their visually appealing representation of market dynamics. Departing from traditional candlestick coloration, the dynamic adaptation of colors, the 'color.from_gradient()' function plays a pivotal role in translating the current source value into a color that reflects its proximity to the highest and lowest values and corresponding colors. Beyond its analytical capabilities, Gradient Candles transform market analysis into an aesthetically enriching experience, providing traders with a unique and comprehensive tool for their technical analysis toolkit.
Traders can tailor the indicator's appearance to suit their preferences and seamlessly integrate it into their personal trading environment. From color inversion to transparency adjustments and the option to fill candles instead of outlining them, the customization features empower users to create a visual representation that aligns precisely with their unique preferences.
Trend Deviation strategy - BTC [IkkeOmar]Intro:
This is an example if anyone needs a push to get started with making strategies in pine script. This is an example on BTC, obviously it isn't a good strategy, and I wouldn't share my own good strategies because of alpha decay.
This strategy integrates several technical indicators to determine market trends and potential trade setups. These indicators include:
Directional Movement Index (DMI)
Bollinger Bands (BB)
Schaff Trend Cycle (STC)
Moving Average Convergence Divergence (MACD)
Momentum Indicator
Aroon Indicator
Supertrend Indicator
Relative Strength Index (RSI)
Exponential Moving Average (EMA)
Volume Weighted Average Price (VWAP)
It's crucial for you guys to understand the strengths and weaknesses of each indicator and identify synergies between them to improve the strategy's effectiveness.
Indicator Settings:
DMI (Directional Movement Index):
Length: This parameter determines the number of bars used in calculating the DMI. A higher length may provide smoother results but might lag behind the actual price action.
Bollinger Bands:
Length: This parameter specifies the number of bars used to calculate the moving average for the Bollinger Bands. A longer length results in a smoother average but might lag behind the price action.
Multiplier: The multiplier determines the width of the Bollinger Bands. It scales the standard deviation of the price data. A higher multiplier leads to wider bands, indicating increased volatility, while a lower multiplier results in narrower bands, suggesting decreased volatility.
Schaff Trend Cycle (STC):
Length: This parameter defines the length of the STC calculation. A longer length may result in smoother but slower-moving signals.
Fast Length: Specifies the length of the fast moving average component in the STC calculation.
Slow Length: Specifies the length of the slow moving average component in the STC calculation.
MACD (Moving Average Convergence Divergence):
Fast Length: Determines the number of bars used to calculate the fast EMA (Exponential Moving Average) in the MACD.
Slow Length: Specifies the number of bars used to calculate the slow EMA in the MACD.
Signal Length: Defines the number of bars used to calculate the signal line, which is typically an EMA of the MACD line.
Momentum Indicator:
Length: This parameter sets the number of bars over which momentum is calculated. A longer length may provide smoother momentum readings but might lag behind significant price changes.
Aroon Indicator:
Length: Specifies the number of bars over which the Aroon indicator calculates its values. A longer length may result in smoother Aroon readings but might lag behind significant market movements.
Supertrend Indicator:
Trendline Length: Determines the length of the period used in the Supertrend calculation. A longer length results in a smoother trendline but might lag behind recent price changes.
Trendline Factor: Specifies the multiplier used in calculating the trendline. It affects the sensitivity of the indicator to price changes.
RSI (Relative Strength Index):
Length: This parameter sets the number of bars over which RSI calculates its values. A longer length may result in smoother RSI readings but might lag behind significant price changes.
EMA (Exponential Moving Average):
Fast EMA: Specifies the number of bars used to calculate the fast EMA. A shorter period results in a more responsive EMA to recent price changes.
Slow EMA: Determines the number of bars used to calculate the slow EMA. A longer period results in a smoother EMA but might lag behind recent price changes.
VWAP (Volume Weighted Average Price):
Default settings are typically used for VWAP calculations, which consider the volume traded at each price level over a specific period. This indicator provides insights into the average price weighted by trading volume.
backtest range and rules:
You can specify the start date for backtesting purposes.
You can can select the desired trade direction: Long, Short, or Both.
Entry and Exit Conditions:
LONG:
DMI Cross Up: The Directional Movement Index (DMI) indicates a bullish trend when the positive directional movement (+DI) crosses above the negative directional movement (-DI).
Bollinger Bands (BB): The price is below the upper Bollinger Band, indicating a potential reversal from the upper band.
Momentum Indicator: Momentum is positive, suggesting increasing buying pressure.
MACD (Moving Average Convergence Divergence): The MACD line is above the signal line, indicating bullish momentum.
Supertrend Indicator: The Supertrend indicator signals an uptrend.
Schaff Trend Cycle (STC): The STC indicates a bullish trend.
Aroon Indicator: The Aroon indicator signals a bullish trend or crossover.
When all these conditions are met simultaneously, the strategy considers it a favorable opportunity to enter a long trade.
SHORT:
DMI Cross Down: The Directional Movement Index (DMI) indicates a bearish trend when the negative directional movement (-DI) crosses above the positive directional movement (+DI).
Bollinger Bands (BB): The price is above the lower Bollinger Band, suggesting a potential reversal from the lower band.
Momentum Indicator: Momentum is negative, indicating increasing selling pressure.
MACD (Moving Average Convergence Divergence): The MACD line is below the signal line, signaling bearish momentum.
Supertrend Indicator: The Supertrend indicator signals a downtrend.
Schaff Trend Cycle (STC): The STC indicates a bearish trend.
Aroon Indicator: The Aroon indicator signals a bearish trend or crossover.
When all these conditions align, the strategy considers it an opportune moment to enter a short trade.
Disclaimer:
THIS ISN'T AN OPTIMAL STRATEGY AT ALL! It was just an old project from when I started learning pine script!
The backtest doesn't promise the same results in the future, always do both in-sample and out-of-sample testing when backtesting a strategy. And make sure you forward test it as well before implementing it!
Furthermore this strategy uses both trend and mean-reversion systems, that is usually a no-go if you want to build robust trend systems .
Don't hesitate to comment if you have any questions or if you have some good notes for a beginner.
Aroon and ASH strategy - ETHERIUM [IkkeOmar]Intro:
This post introduces a Pine Script strategy, as an example if anyone needs a push to get started. This example is a strategy on ETH, obviously it isn't a good strategy, and I wouldn't share my own good strategies because of alpha decay. This strategy combines two technical indicators: Aroon and Absolute Strength Histogram (ASH).
Overview:
The strategy employs the Aroon indicator alongside the Absolute Strength Histogram (ASH) to determine market trends and potential trade setups. Aroon helps identify the strength and direction of a trend, while ASH provides insights into the strength of momentum. By combining these indicators, the strategy aims to capture profitable trading opportunities in Ethereum markets. Normally when developing strats using indicators, you want to find some good indicators, but you NEED to understand their strengths and weaknesses, other indicators can be incorporated to minimize the downs of another indicator. Try to look for synergy in your indicators!
Indicator settings:
Aroon Indicator:
- Two sets of parameters are used for the Aroon indicator:
- For Long Positions: Aroon periods are set to 56 (upper) and 20 (lower).
- For Short Positions: Aroon periods are set to 17 (upper) and 55 (lower).
Absolute Strength Histogram (ASH):
ASH is calculated with a length of 9 bars using the closing price as the data source.
Trading Conditions:
The strategy incorporates specific conditions to initiate and exit trades:
Start Date:
Traders can specify the start date for backtesting purposes.
Trade Direction:
Traders can select the desired trade direction: Long, Short, or Both.
Entry and Exit Conditions:
1. Long Position Entry: A long position is initiated when the Aroon indicator crosses over (crossover) the lower Aroon threshold, indicating a potential uptrend.
2. Long Position Exit: A long position is closed when the Aroon indicator crosses under (crossunder) the lower Aroon threshold.
3. Short Position Entry: A short position is initiated when the Aroon indicator crosses under (crossunder) the upper Aroon threshold, signaling a potential downtrend.
4. Short Position Exit: A short position is closed when the Aroon indicator crosses over (crossover) the upper Aroon threshold.
Disclaimer:
THIS ISN'T AN OPTIMAL STRATEGY AT ALL! It was just an old project from when I started learning pine script!
The backtest doesn't promise the same results in the future, always do both in-sample and out-of-sample testing when backtesting a strategy. And make sure you forward test it as well before implementing it!
[KVA] Custom Sessions Custom Sessions: Multi-Timeframe Analysis & Key Level Insights
Introduction:
Introducing " Custom Sessions," an innovative Pine Script indicator meticulously crafted to empower traders by offering an advanced level of analysis on various global trading sessions. This tool is designed not just to highlight trading sessions but to delve deeper into the nuances of market movements by analyzing candlestick behavior within those sessions, offering a nuanced view of market trends, liquidity, and potential turning points.
Core Features :
Session Customization : Tailor trading sessions to align with your strategy, focusing on the markets that matter most to you. Whether it's London, New York, Tokyo, Sydney, or Frankfurt, you have the control.
Enhanced Market Insight : Beyond session timing, gain a refined understanding of market dynamics through detailed candlestick analysis within each session, providing a granular view of price action.
Comprehensive Analysis Tools : Alongside session analysis, the indicator includes features like VWAP (Volume Weighted Average Price) and Fibonacci retracement levels, offering a multifaceted approach to market analysis across chosen timeframes.
VWAP : Gain insights into the market's trend and liquidity by viewing the Volume Weighted Average Price calculated for the custom timeframe.
Fibonacci Retracement Levels : Easily identify potential reversal points with automatically plotted Fibonacci levels at 0.236, 0.382, 0.5, 0.618, and 0.782for each candle
Real-Time Updates : As the market moves, so does " Custom Sessions," offering real-time insights that adapt to the unfolding market conditions.
Utilization Guide :
Configure Your Sessions : Begin by setting up the sessions that are most relevant to your trading approach, customizing their times as needed.
Select the Desired Timeframe : Input your preferred higher timeframe to analyze data that is most relevant to your trading strategy.
Dive into the Details : Use the detailed candlestick analysis within sessions to pinpoint potential entry and exit points, supported by VWAP and Fibonacci levels for deeper market insight.
Customize Your View : Adjust the visual aspects of the indicator, including session color coding and which elements to display, tailoring the tool to your preferences.
Acknowledgements :
A special thanks to Aurocks_AIF for their foundational work on "Sessions on Chart" . This project has been an invaluable resource, inspiring the development of " Custom Sessions" and pushing the boundaries of traditional session analysis.
Final Thoughts :
" Custom Sessions" is more than just an indicator; it's a comprehensive analysis tool that brings a new depth to the understanding of market sessions. By offering detailed insights into the behavior of candles within these sessions, along with essential analysis features, this indicator is a must-have for traders seeking to enhance their technical analysis arsenal.
Whether you're a day trader looking to capture short-term movements or a long-term investor seeking broader market insights, this indicator offers valuable data visualization to enhance your trading decisions. By integrating highs, lows, VWAP, and Fibonacci levels into your analysis, you gain a comprehensive view of market behavior across different timeframes and sessions
Daily Chess Puzzles [LuxAlgo]Play Chess Puzzles right on your Chart!
Daily Chess Puzzles brings you a new 1-Move chess puzzle straight to your chart every day.
🔶 USAGE
Submit your answer to see if your solution is correct! For quick access to the settings, Double-Click on the Chess board to open the settings interface.
The current active color (Who's move it is) is represented by the color of the information bar, and the corner board squares.
This game uses long algebraic notation without pieces names for submitting moves.
This method for determining moves is perfect for simplicity and clarity, and is standard for the Universal Chess Interface (UCI).
🔹 How to Notate
Long algebraic notation (without pieces name) is simple to understand. This notation does not use capture symbols or check/checkmate symbols; it uses only the squares involved in the move and any promotion occurring.
{Starting Square}{Ending Square}{Promotion Piece(if needed)}
Locate the starting square and the ending square of the piece being moved, without mentioning the piece itself.
Identify the column letters (a-h) and row numbers (1-8) that align with your desired move.
If a pawn reaches the opposite end of the board the pawn gets promoted, add the letter representing the piece it is promoted to at the end of the move.
Put it all together and you've got your notation!
Piece Notations for Pawn Promotions:
'n' for Knight ('k' is reserved for the King in chess notation)
'b' for Bishop
'r' for Rook
'q' for Queen
Normal Move Example: Moving a piece from e2 to e4 is notated as "e2e4".
Pawn Promotion Example: Promoting a pawn to a queen is notated as "e7e8q".
🔶 DETAILS
Miss a day? Yesterday's puzzle can be re-played, check the box for 'View Yesterday's Puzzle' in the settings.
This indicator makes use of Tooltips! . Hover over a square to see that square's notation.
This script makes use of 5 libraries, each storing 2 years worth of daily chess puzzles amounting to 10 years of unique daily chess puzzles.
"timenow" is used to determine which day it is, so even on a closed ticker or weekend or holiday a new chess puzzle will be displayed.
Users have the option to choose from 5 different board themes.
Unbiased Replay CompanionWhen using bar replay mode on TradingView, you have to scroll your way back through clearly visible price history, which always leaves you with unwanted lookahead bias because you unfortunately see all future price movements before they are hidden by the use of the scissors tool.
This indicator provides a simple way to hide all the price action and displays a configurable bar counter instead, allowing you to scroll back to every moment in history without seeing any of the prices' movements. The bar counter hereby serves as a visual aid to guide you back to the very first available bar on the chart.
You can configure the color of the overlay to match your charts' background as well as the style of the bar counter and the distance at which the counter is being displayed.
The indicator crops the vertical price scale by a random amount (only when it is being displayed) to also prevent you from having any unwanted bias based on the current price range.
Whenever you're done scrolling and have used the replay scissors tool to start your session just hide the indicator and bring it up again when you need to scroll. That's all there is to it.
Important: After you apply the indicator to your charts, make sure it is displayed in front of everything else. You can configure this by clicking on the three dots that are displayed on the right side of the indicator name on hover and choose "Visual order > Bring to front" from the popup menu that appears.
Enjoy your unbiased backtesting sessions!
Word PuzzleWord Puzzle is a PineScript-based clone of the popular daily puzzle game called "Wordle".
It is not identical, but the general gameplay is the same.
>How It works (The Game)
A secret word (also referred to as the "target word") is randomly selected from a database of 5 Letter words.
The player/user's goal is to guess that word within 6 attempts.
After each guess, the script provides information to the user by color coding the letters of their guess.
Green (Known Letters): These letters are in the exact spot that they occur in the target word.
Yellow (Included Letters): These letters are included in the target word; however, the user does not have them in the correct position.
Gray (Un-used Letters): These letters do not occur anywhere in the target word
>Interface
On each turn the user will input their 5 letter guess into the "Guess #" box and submit it by checking the check-box next to the word.
If the input word is invalid, the script will prompt you. Invalid words are any words not found within the script's valid word list.
After guess 3, hints may be viewed by hovering over the "Need a Hint" box on the display.
If you are unable to guess the word in the given amount of guesses, the 'Game Over' screen will display, and you will be able to view the answer in the same box as the hints.
To start a new game, clear all inputs and insert a different number into the "Puzzle Seed" input, to have the script randomly select a new word.
NOTE: Word selection based on the seed number is deterministic, the same seed number will always have the same puzzle word.
>Additional Information
The script comes equipped with 5 different themes as seen below.
Table size is also selectable.
This indicator makes use of 'tooltips'.
Hover over the boxes on the table for quick reference information or additional information on prompts.
Since the script randomly selects from the ENTIRE valid word list you are bound to come across some obscure words with strange spellings.
Because of this, I have built in a "quick way out".
To end a game without filling out all guesses, submit the answer "Give Up" to skip to the end screen where you can reveal the puzzle's answer.
Afterwards, take a second to look up the definition! Ever heard of a xylyl?!
The code is fully notated. Most of the script involves string management, but there are still some neat tricks in here as well.
Enjoy!
Machine Learning Cross-Validation Split & Batch HighlighterThis indicator is designed for traders and analysts who employ Machine Learning (ML) techniques for cross-validation in financial markets.
The script visually segments a selected range of historical price data into splits and batches, helping in the assessment of model performance over different market conditions.
User
Theory
In ML, cross-validation is a technique to assess the generalizability of a model, typically by partitioning the data into a set of "folds" or "splits." Each split acts as a validation set, while the others form the training set. This script takes a unique approach by considering the sequential nature of financial time series data, where random shuffling of data (as in traditional cross-validation) can disrupt the temporal order, leading to misleading results.
Chronological Integrity of Splits
Even if the order of the splits is shuffled for cross-validation purposes, the data within each split remains in its original chronological sequence. This feature is crucial for time series analysis, as it respects the inherent order-dependency of financial markets. Thus, each split can be considered a microcosm of market behavior, maintaining the integrity of trends, cycles, and patterns that could be disrupted by random sampling.
The script allows users to define the number of splits and the size of each batch within a split. By doing so, it maintains the chronological sequence of the data, ensuring that the validation set is representative of a future time period that the model would predict.
www.tradingview.com
Parameters
Number of Splits: Defines how many segments the selected data range will be divided into. Each split serves as a standalone testing ground for the ML model. (Up to 24)
Batch Size: Determines the number of bars (candles) in each batch within a split. Smaller batches can help pinpoint overfitting at a finer granularity.
Start Index: The bar index from where the historical data range begins. It sets the starting point for data analysis.
End Index: The bar index where the historical data range ends. It marks the cutoff for data to be included in the model assessment.
Usage
To use this script effectively:
1 - Input the Start Index and End Index to define the historical data range you wish to analyze.
2 - Adjust the Number of Splits to create multiple validation sets for cross-validation.
3 - Set the Batch Size to control the granularity of each validation set within the splits.
4 - The script will highlight the background of each batch within the splits using alternating shades, allowing for a clear visual distinction of the data segmentation.
By maintaining the temporal sequence and allowing for adjustable granularity, the "ML Split and Batch Highlighter" aids in creating a robust validation framework for time series forecasting models in finance.
Backtest any Indicator v5Happy Trade,
here you get the opportunity to backtest any of your indicators like a strategy without converting them into a strategy. You can choose to go long or go short and detailed time filters. Further more you can set the take profit and stop loss, initial capital, quantity per trade and set the exchange fees. You get an overall result table and even a detailed, scroll-able table with all trades. In the Image 1 you see the provided info tables about all Trades and the Result Summary. Further more every trade is marked by a background color, Labels and Levels. An opening Label with the trade direction and trade number. A closing Label again with the trade number, the trades profit in % and the total amount of $ after all past trades. A green line for the take profit level and a red line for the stop loss.
Image 1
Example
For this description we choose the Stochastic RSI indicator from TradingView as it is. In Image 2 is shown the performance of it with decent settings.
Timeframe=45, BTCUSD, 2023-08-01 - 2023-10-20
Stoch RSI: k=30, d=40, RSI-length=140, stoch-length=140
Backtest any Indicator: input signal=Stoch RSI, goLong, take profit=9.1%, stop loss=2.5%, start capital=1000$, qty=5%, fee=0.1%, no Session Filter
Image 2
Usage
1) You need to know the name of the boolean (or integer) variable of your indicator which hold the buy condition. Lets say that this boolean variable is called BUY. If this BUY variable is not plotted on the chart you simply add the following code line at the end of your pine script.
For boolean (true/false) BUY variables use this:
plot(BUY ? 1:0,'Your buy condition hold in that variable BUY',display = display.data_window)
And in case your script's BUY variable is an integer or float then use instate the following code line:
plot(BUY ,'Your buy condition hold in that variable BUY',display = display.data_window)
2) Probably the name of this BUY variable in your indicator is not BUY. Simply replace in the code line above the BUY with the name of your script's trade condition variable.
3) Save your changed Indicator script.
4) Then add this 'Backtest any Indicator' script to the chart ...
5) and go to the settings of it. Choose under "Settings -> Buy Signal" your Indicator. So in the example above choose .
The form is usually: ' : BUY'. Then you see something like Image 2
6) Decide which trade direction the BUY signal should trigger. A go Long or a go Short by set the hook or not.
Now you have a backtest of your Indicator without converting it into a strategy. You may change the setting of your Indicator to the best results and setup the following strategy settings like Time- and Session Filter, Stop Loss, Take Profit etc. More of it below in the section Settings Menu.
Appereance
In the Image 2 you see on the right side the List of Trades . To scroll down you go into the settings again and decrease the scroll value. So you can see all trades that have happened before. In case there is an open trade you will find it at the last position of the list.
Every Long trade is green back grounded while Short trades are red.
Every trade begins with a label that show goLong or goShort and its number. And ends with another label again with its number, Profit in % and the resulting total amount of cash.
If activated you further see the Take Profit as a green line and the Stop Loss as a orange line. In the settings you can set their percentage above or below the entry price.
You also see the Result Summary below. Here you find the usual stats of a strategy of all closed trades. The profit after total amount of fees , amount of trades, Profit Factor and the total amount of fees .
Settings Menu
In the settings menu you will find the following high-lighted sections. Most of the settings have a question mark on their right side. Move over it with the cursor to read specific explanation.
Input Signal of your Indicator: Under Buy you set the trade signal of your Indicator. And under Target you set the value when a trade should happen. In the Example with the Stochastic RSI above we used 20. Below you can set the trade direction, let it be go short when hooked or go long when unhooked.
Trade Settings & List of Trades: Take Profit set the target price of any trade. Stop Loss set the price to step out when a trade goes the wrong direction. Check mark the List of Trades to see any single trade with their stats. In case that there are more trades as fits in the list you can scroll down the list by decrease the value Scroll .
Time Filter: You can set a Start Time or deactivate it by leave it unhooked. The same with End Time .
Session Filter: here you can choose to activate it on weekly base. Which days of the week should be trading and those without. And also on daily base from which time on and until trade are possible. Outside of all times and sessions there will be no new trades if activated.
Invest Settings: here you can choose the amount of cash to start with. The Quantity percentage define for every trade how much of the cash should be invested and the Fee percentage which have to be payed every trade. Open position and closing position.
Other Announcements
This Backtest script don't use the strategy functions of TradingView. It is programmed as an indicator. All trades get executed at candle closing. This script use the functionality "Indicator-on-Indicator" from TradingView.
Conclusion
So now it is your turn, take your promising indicators and connect it to that Backtest script. With it you get a fast impression of how successful your indicator will trade. You don't have to relay on coders who maybe add cheating code lines. Further more you can check with the Time Filter under which market condition you indicator perform the best or not so well. Also with the Session Filter you can sort out repeating good market conditions for your indicator. Even you can check with the GoShort XOR GoLong check mark the trade signals of you indicator in opposite trade direction with one click. And compare your indicators under the same conditions and get the results just after 2 clicks. Thanks to the in-build fee setting you get an impression how much a 0.1% fee cost you in total.
Cheers
Position TrackerUse this tool to plot a trading position on the chart, using the guided confirmation prompts after adding to the chart.
To use this tool, after adding to the chart it will prompt for entry and exit time and entry price selection which will require using a mouse or touch screen to complete the action; the prompts appear at the bottom of the chart and are a blue bubble/box looking object :)
It will provide a readout of the live profit and loss, run-up and drawdown of a trade as well as present notes if added.
Visuals provide an easy look at periods of drawdown, and a anchored vwap is included as a simple guide for trade management.
Setting the symbol will allow many instances of the tool on the same layout and each instance will hide it's display while not on the matching symbol chart.
Once the end time for the trade is met, the label with trade breakdown thoughtfully moves away from active price and can be seen by scrolling to trade entry area.
If there's enough interest I will add some additional features but wanted to start simple. Or feel free to copy and make it your own!
Thanks and happy trading.
Monitor XThe Monitor X Indicator is a dynamic tool designed for any trading symbol, providing a quick and intuitive snapshot of price action relative to the latest closing level. With a user-friendly interface, this indicator allows traders to effortlessly gauge price movement and key levels.
Key Features:
1. Symbol Agnosticism:
Universally applicable to any trading symbol, the Monitor X Indicator ensures versatility and adaptability across various financial instruments.
2. Instant Price Insight:
Obtain immediate clarity on current market dynamics with a single glance. The indicator prominently displays the price line, facilitating swift analysis.
3. Last Close Comparison:
Easily assess the price's relationship to the most recent closing level. This feature provides valuable context for understanding market sentiment and potential support/resistance areas.
4. Customizable Display:
Tailor the indicator to your preferences with adjustable settings for line color, width, and opacity. This customization empowers traders to align the indicator with their unique trading strategies.
5. Intuitive Interface:
The clean and intuitive interface ensures a seamless user experience. Access crucial information effortlessly, allowing for quick decision-making.
How to Use:
1. Symbol Selection:
Apply the Monitor X Indicator to any trading symbol of your choice, ensuring a versatile tool for your entire portfolio.
2. Last Close Analysis:
Quickly assess how the current price relates to the previous close. This instant comparison aids in identifying potential entry and exit points.
3. Customization for Precision:
Fine-tune the indicator's appearance to suit your preferences. Adjust line colors, widths, and opacity settings for a personalized and efficient trading experience.
4. Swift Decision-Making:
Utilize the Monitor X Indicator for rapid decision-making. Gain insights into market movements at a glance, allowing you to stay ahead in dynamic trading environments.
Leveraged Share Decay Tracker [SS]Releasing this utility tool for leveraged share traders and investors.
It is very difficult to track the amount of decay and efficiency that is associated with leveraged shares and since not all leveraged shares are created equally, I developed this tool to help investors/traders ascertain:
1. The general risk, in $$, per share associated with investing in a particular leveraged ETF
2. The ability of a leveraged share to match what it purports to do (i.e. if it is a 3X Bull share, is it actually returning consistently 3X the underlying or is there a large variance?)
3. The general decay at various timepoints expressed in $$$
How to use:
You need to be opened on the chart of the underlying. In the example above, the chart is on DIA, the leveraged share being tracked is UDOW (3X bull share of the DOW).
Once you are on the chart of the underlying, you then put in the leveraged share of interest. The indicator will perform two major assessments:
1. An analysis of the standard error between the underlying and the leveraged share. This is accomplished through linear regression, but instead of creating a linreg equation, it simply uses the results to ascertain the degree of error associated at various time points (the time points are 10, 20, 30, 40, 50, 100, 252).
2. An analysis of the variance of returns. The indicator requires you to put in the leverage amount. So if the leverage amount is 3% (i.e. SPXL or UPRO is 3 X SPY), be sure that you are putting that factor in the settings. It will then modify the underlying to match the leverage amount, and perform an assessment of variance over 10, 20, 30, 40, 50, 100, 252 days to ensure stability. This will verify whether the leveraged ETF is actually consistently performing how it purports to perform.
Here are some examples, and some tales of caution so you can see, for yourself, how not all leveraged shares are created equal.
SPY and SPXL:
SPY and UPRO:
XBI and LABU (3 x bull share):
XBI and LABD (3 x bear share):
SOX and SOXL:
AAPL and AAPU:
It is VERY pivotal you remember to check and adjust the Leveraged % factor.
For example, AAPU is leveraged 1.5%. You can see above it tracks this well. However, if you accidently leave it at 3%, you will get an erroneous result:
You can also see how some can fail to track the quoted leveraged amount, but still produce relatively lower risk decay.
And, as a final example, let's take a look at the worst leveraged share of life, BOIL:
Trainwreck that one. Stay far away from it!
The chart:
The chart will show you the drift (money value over time) and the variance (% variance between the expected and actual returns) over time. From here, you can ascertain the general length you feel comfortable holding a leveraged share. In general, for most stable shares, <= 50 trading days tends to be the sweet spot, but always check the chart.
There are also options to plot the variances and the drifts so you can see them visually.
And that is the indicator! Kind of boring, but there are absolutely 0 resources out there for doing this job, so hopefully you see the use for it!
Safe trades everyone!
Christmas Toolkit [LuxAlgo]It's that time of the year... and what would be more appropriate than displaying Christmas-themed elements on your chart?
The Christmas Toolkit displays a tree containing elements affected by various technical indicators. If you're lucky, you just might also find a precious reindeer trotting toward the tree, how fancy!
🔶 USAGE
Each of the 7 X-mas balls is associated with a specific condition.
Each ball has a color indicating:
lime: very bullish
green: bullish
blue: holding the same position or sideline
red: bearish
darkRed: very bearish
From top to bottom:
🔹 RSI (length 14)
rsi < 20 - lime (+2 points)
rsi < 30 - green (+1 point)
rsi > 80 - darkRed (-2 points)
rsi > 70 - red (-1 point)
else - blue
🔹 Stoch (length 14)
stoch < 20 - lime (+2 points)
stoch < 30 - green (+1 point)
stoch > 80 - darkRed (-2 points)
stoch > 70 - red (-1 point)
else - blue
🔹 close vs. ema (length 20)
close > ema 20 - green (+1 point)
else - red (-1 point)
🔹 ema (length 20)
ema 20 rises - green (+1 point)
else - red (-1 point)
🔹 ema (length 50)
ema 50 rises - green (+1 point)
else - red (-1 point)
🔹 ema (length 100)
ema 100 rises - green (+1 point)
else - red (-1 point)
🔹 ema (length 200)
ema 200 rises - green (+1 point)
else - red (-1 point)
The above information can also be found on the right side of the tree.
You'll see the conditions associated with the specific X-mas ball and the meaning of color changes. This can also be visualized by hovering over the labels.
All values are added together, this result is used to color the star at the top of the tree, with a specific color indicating:
lime: very bullish (> 6 points)
green: bullish (6 points)
blue: holding the same position or sideline
red: bearish (-6 points)
darkRed: very bearish (< -6 points)
Switches to green/lime or red/dark red can be seen by the fallen stars at the bottom.
The Last Switch indicates the latest green/lime or red/dark red color (not blue)
🔶 ANIMATION
Randomly moving snowflakes are added to give it a wintry character.
There are also randomly moving stars in the tree.
Garland rotations, style, and color can be adjusted, together with the width and offset of the tree, put your tree anywhere on your chart!
Disabling the "static tree" setting will make the needles 'move'.
Have you happened to see the precious reindeer on the right? This proud reindeer moves towards the most recent candle. Who knows what this reindeer might be bringing to the tree?
🔶 SETTINGS
Width: Width of tree.
Offset: Offset of the tree.
Garland rotations: Amount of rotations, a high number gives other styles.
Color/Style: sets the color & style of garland stars.
Needles: sets the needle color.
Static Tree: Allows the tree needles to 'move' with each tick.
Reindeer Speed: Controls how fast the deer moves toward the most recent bar.
🔶 MESSAGE FROM THE LUXALGO TEAM
It has been an honor to contribute to the TradingView community and we are always so happy to see your supportive messages on our scripts.
We have posted a total of 78 script publications this year, which is no small feat & was only possible thanks to our team of Wizard developers @alexgrover + @dgtrd + @fikira , the development team behind Pine Script, and of course to the support of our legendary community.
Happy Holidays to you all, and we'll see ya next year! ☃️
Momentum Candle
bar’s open price (open) from its close price (close). That gives the size of the bar’s body.
The difference between the open and closed is the candle’s body range.
The colour of a candle’s body shows the direction of prices.
if Close > Open then it's Bullish Body Candle & if close < open then it's Bearish Body Candle.
Stronger the interest of buyers or sellers is reflected in the formation of the Body of Candle.
When the body is indeed more than 50% bigger than the average size of a candle
then it will show Momentum on the chart.
we can see the Colour of the candle Changes When it is Stronger than the Average candle & Body size is Bigger than the Average Candle size.
Depending upon Bullish or Bearish the candle Colour Changes to Indicate the Strong Presence of the Buyer or Seller
The Candle which strong but not solid and above Average then it will show Normal Colour Of Candle and the Candle which is Below Average will have no colour on Volume Like Bars on the Chart & chart no effect on the candle colour.
Buyer or Seller's Activity is always reflected in Candle. This helps us to make Trade Decisions.
If Solid Candle at Support or Resistance give or add more Conviction. If Found At Support or resistance will act as Reversal. If found at Swing Low or Retracement, it will help to take trade accordingly with the main trend.
Solid Candle Helps in Good Risk to Reward. Mark the High and Low Of the Strong Candle and observe the Price Action.
as long as the candle is trading below average helps us to take action for Range Breakout & saves us from Taking Entry in Range.
The Distribution at the Top and consolidation at the Bottom can be Observed by the Behaviour of Candles on the Chart.
The candle is always a little first step of price action, Whatever Happens in the market is always first printed in a candle,
The Leader Candle or Momentum Candle with Follow always Decides the Trend.
It's Simple But useful in Day Trading as well as in Swing Trading or Positional Trading too
Opening/Closing Highs and LowsDescription:
This indicator tracks the daily, monthly, and yearly opening, closing, highs, and lows in the stock market. It's designed to display crucial price points within different time frames, aiding traders in assessing significant market movements.
Features:
Daily View: Shows the opening, closing, highest, and lowest prices within each trading day.
Monthly Overview: Highlights the monthly opening, closing, highs, and lows to offer insights into broader market trends.
Yearly Perspective: Presents the annual opening, closing, highs, and lows, aiding in long-term market analysis.
How to Use:
Daily Analysis: Monitor daily fluctuations and spot intraday trends by observing the daily opening/closing ranges.
Monthly Trends: Identify monthly patterns by reviewing the monthly opening/closing levels.
Yearly Insights: Gain a broader perspective on yearly market movements by analyzing the annual highs and lows
Backtesting ModuleDo you often find yourself creating new 'strategy()' scripts for each trading system? Are you unable to focus on generating new systems due to fatigue and time loss incurred in the process? Here's a potential solution: the 'Backtesting Module' :)
INTRODUCTION
Every trading system is based on four basic conditions: long entry, long exit, short entry and short exit (which are typically defined as boolean series in Pine Script).
If you can define the conditions generated by your trading system as a series of integers, it becomes possible to use these variables in different scripts in efficient ways. (Pine Script is a convenient language that allows you to use the integer output of one indicator as a source in another.)
The 'Backtesting Module' is a dynamic strategy script designed to adapt to your signals. It boasts two notable features:
⮞ It produces a backtest report using the entry and exit variables you define.
⮞ It not only serves for system testing but also to combine independent signals into a single system. (This functionality enables to create complex strategies and report on their success!)
The module tests Golden and Death cross signals by default, when you enter your own conditions the default signals will be neutralized. The methodology is described below.
PREPARATION
There are three simple steps to connect your own indicator to the Module.
STEP 1
Firstly, you must define entry and exit variables in your own script. Let's elucidate it with a straightforward example. Consider a system generating long and short signals based on the intersections of two moving averages. Consequently, our conditions would be as follows:
// Signals
long = ta.crossover(ta.sma(close, 14), ta.sma(close, 28))
short = ta.crossunder(ta.sma(close, 14), ta.sma(close, 28))
Now, the question is: How can we convert boolean variables into integer variables? The answer is conditional ternary block, defined as follows:
// Entry & Exit
long_entry = long ? 1 : 0
long_exit = short ? 1 : 0
short_entry = short ? 1 : 0
short_exit = long ? 1 : 0
The mechanics of the Entry & Exit variables are simple. The variable takes on a value of 1 when your trading system generates the signal and if your system does not produce any signal, variable returns 0. In this example, you see how exit signals can be generated in a trading system that only contains entry signals. If you have a system with original exit signals, you can also use them directly. (Please mind the NOTES section below).
STEP 2
To utilize the Entry & Exit variables as source in another script, they must be plotted on the chart. Therefore, the final detail to include in the script containing your trading system would be as follows:
// Plot The Output
plot(long_entry, "Long Entry", display=display.data_window, editable=false)
plot(long_exit, "Long Exit", display=display.data_window, editable=false)
plot(short_entry, "Short Entry", display=display.data_window, editable=false)
plot(short_exit, "Short Exit", display=display.data_window, editable=false)
STEP 3
Now, we are ready to test the system! Load the Backtesting Module indicator onto the chart along with your trading system/indicator. Then set the outputs of your system (Long Entry, Long Exit, Short Entry, Short Exit) as source in the module. That's it.
FEATURES & ORIGINALITY
⮞ Primarily, this script has been created to provide you with an easy and practical method when testing your trading system.
⮞ I thought it might be nice to visualize a few useful results. The Backtesting Module provides insights into the outcomes of both long and short trades by computing the number of trades and the success percentage.
⮞ Through the 'Trade' parameter, users can specify the market direction in which the indicator is permitted to initiate positions.
⮞ Users have the flexibility to define the date range for the test.
⮞ There are optional features allowing users to plot entry prices on the chart and customize bar colors.
⮞ The report and the test date range are presented in a table on the chart screen. The entry price can be monitored in the data window.
⮞ Note that results are based on realized returns, and the open trade is not included in the displayed results. (The only exception is the 'Unrealized PNL' result in the table.)
STRATEGY SETTINGS
The default parameters are as follows:
⮞ Initial Balance : 10000 (in units of currency)
⮞ Quantity : 10% of equity
⮞ Commission : 0.04%
⮞ Slippage : 0
⮞ Dataset : All bars in the chart
For a realistic backtest result, you should size trades to only risk sustainable amounts of equity. Do not risk more than 5-10% on a trade. And ALWAYS configure your commission and slippage parameters according to pessimistic scenarios!
NOTES
⮞ This script is intended solely for development purposes. And it'll will be available for all the indicators I publish.
⮞ In this version of the module, all order types are designed as market orders. The exit size is the sum of the entry size.
⮞ As your trading conditions grow more intricate, you might need to define the outputs of your system in alternative ways. The method outlined in this description is tailored for straightforward signal structures.
⮞ Additionally, depending on the structure of your trading system, the backtest module may require further development. This encompasses stop-loss, take-profit, specific exit orders, quantity, margin and risk management calculations. I am considering releasing improvements that consider these options in future versions.
⮞ An example of how complex trading signals can be generated is the OTT Collection. If you're interested in seeing how the signals are constructed, you can use the link below.
THANKS
Special thanks to PineCoders for their valuable moderation efforts.
I hope this will be a useful example for the TradingView community...
DISCLAIMER
This is just an indicator, nothing more. It is provided for informational and educational purposes exclusively. The utilization of this script does not constitute professional or financial advice. The user solely bears the responsibility for risks associated with script usage. Do not forget to manage your risk. And trade as safely as possible. Best of luck!
