Get started

Tradingview

Fisher Transform on RSIOverview The Fisher Transform on RSI indicator combines the Relative Strength Index (RSI) with the Fisher Transform to offer a refined tool for identifying market turning points and trends. By applying the Fisher Transform to the RSI, this indicator converts RSI values into a Gaussian normal distribution, enhancing the precision of detecting overbought and oversold conditions. This method provides a clearer and more accurate identification of potential market reversals than the standard RSI. Key/Unique Features Fisher Transform Applied to RSI : Transforms RSI values into a Gaussian normal distribution, improving the detection of overbought and oversold conditions. Smoothing : Applies additional smoothing to the Fisher Transform, reducing noise and providing clearer signals. Signal Line : Includes a signal line to identify crossover points, indicating potential buy or sell signals. Custom Alerts : Built-in alert conditions for bullish and bearish crossovers, keeping traders informed of significant market movements. Visual Enhancements : Background color changes based on crossover conditions, offering immediate visual cues for potential trading opportunities. How It Works RSI Calculation : The indicator calculates the Relative Strength Index (RSI) based on the selected source and period length. Normalization : The RSI values are normalized to fit within a range of -1 to 1, which is essential for the Fisher Transform. Fisher Transform : The normalized RSI values undergo the Fisher Transform, converting them into a Gaussian normal distribution. Smoothing : The transformed values are smoothed using a simple moving average to reduce noise and provide more reliable signals. Signal Line : A signal line, which is a simple moving average of the smoothed Fisher Transform, is plotted to identify crossover points. Alerts and Visuals : Custom alert conditions are set for bullish and bearish crossovers, and the background color changes to indicate these conditions. Usage Instructions Trend Identification : Use the Fisher Transform on RSI to identify overbought and oversold conditions with enhanced precision, aiding in spotting potential trend reversals. Trade Signals : Monitor the crossovers between the smoothed Fisher Transform and the signal line. A bullish crossover suggests a potential buying opportunity, while a bearish crossover indicates a potential selling opportunity. Alerts : Set custom alerts based on the built-in conditions to receive notifications when important crossover events occur, ensuring you never miss a trading opportunity. Visual Cues : Utilize the background color changes to quickly identify bullish (green) and bearish (red) conditions, providing immediate visual feedback on market sentiment. Complementary Analysis : Combine this indicator with other technical analysis tools and indicators to enhance your overall trading strategy and make more informed decisions.
Pine Script™ indicator
by PuzzlerTrades
7
Markov Chain Trend IndicatorOverview The Markov Chain Trend Indicator utilizes the principles of Markov Chain processes to analyze stock price movements and predict future trends. By calculating the probabilities of transitioning between different market states (Uptrend, Downtrend, and Sideways), this indicator provides traders with valuable insights into market dynamics. Key Features State Identification: Differentiates between Uptrend, Downtrend, and Sideways states based on price movements. Transition Probability Calculation: Calculates the probability of transitioning from one state to another using historical data. Real-time Dashboard: Displays the probabilities of each state on the chart, helping traders make informed decisions. Background Color Coding: Visually represents the current market state with background colors for easy interpretation. Concepts Underlying the Calculations Markov Chains: A stochastic process where the probability of moving to the next state depends only on the current state, not on the sequence of events that preceded it. Logarithmic Returns: Used to normalize price changes and identify states based on significant movements. Transition Matrices: Utilized to store and calculate the probabilities of moving from one state to another. How It Works The indicator first calculates the logarithmic returns of the stock price to identify significant movements. Based on these returns, it determines the current state (Uptrend, Downtrend, or Sideways). It then updates the transition matrices to keep track of how often the price moves from one state to another. Using these matrices, the indicator calculates the probabilities of transitioning to each state and displays this information on the chart. How Traders Can Use It Traders can use the Markov Chain Trend Indicator to: Identify Market Trends: Quickly determine if the market is in an uptrend, downtrend, or sideways state. Predict Future Movements: Use the transition probabilities to forecast potential market movements and make informed trading decisions. Enhance Trading Strategies: Combine with other technical indicators to refine entry and exit points based on predicted trends. Example Usage Instructions Add the Markov Chain Trend Indicator to your TradingView chart. Observe the background color to quickly identify the current market state: Green for Uptrend, Red for Downtrend, Gray for Sideways Check the dashboard label to see the probabilities of transitioning to each state. Use these probabilities to anticipate market movements and adjust your trading strategy accordingly. Combine the indicator with other technical analysis tools for more robust decision-making.
Pine Script™ indicator
by PuzzlerTrades
3
Market Cipher B by WeloTradesMarket Cipher B by WeloTrades: Detailed Script Description //Overview// "Market Cipher B by WeloTrades" is an advanced trading tool that combines multiple technical indicators to provide a comprehensive market analysis framework. By integrating WaveTrend, RSI, and MoneyFlow indicators, this script helps traders to better identify market trends, potential reversals, and trading opportunities. The script is designed to offer a holistic view of the market by combining the strengths of these individual indicators. //Key Features and Originality// WaveTrend Analysis: WaveTrend Channel (WT1 and WT2): The core of this script is the WaveTrend indicator, which uses the smoothed average of typical price to identify overbought and oversold conditions. WT1 and WT2 are calculated to track market momentum and cyclical price movements. Major Divergences (🐮/🐻): The script detects and highlights major bullish and bearish divergences automatically, providing traders with visual cues for potential reversals. This helps in making informed decisions based on divergence patterns. Relative Strength Index (RSI): RSI Levels: RSI is used to measure the speed and change of price movements, with specific levels indicating overbought and oversold conditions. Customizable Levels: Users can configure the overbought and oversold thresholds, allowing for a tailored analysis based on individual trading strategies. MoneyFlow Indicator: Fast and Slow MoneyFlow: This indicator tracks the flow of capital into and out of the market, offering insights into the underlying market strength. It includes configurable periods and multipliers for both fast and slow MoneyFlow. Vertical Positioning: The script allows users to adjust the vertical position of MoneyFlow plots to maintain a clear and uncluttered chart. Stochastic RSI: Stochastic RSI Levels: This combines the RSI and Stochastic indicators to provide a momentum oscillator that is sensitive to price changes. It is used to identify overbought and oversold conditions within a specified period. Customizable Levels: Traders can set specific levels for more precise analysis. //How It Works// The script integrates these indicators through advanced algorithms, creating a synergistic effect that enhances market analysis. Here’s a detailed explanation of the underlying concepts and calculations: WaveTrend Indicator: Calculation: WaveTrend is based on the typical price (average of high, low, and close) smoothed over a specified channel length. WT1 and WT2 are derived from this typical price and further smoothed using the Average Channel Length. The difference between WT1 and WT2 indicates momentum, helping to identify cyclical market trends. RSI (Relative Strength Index): Calculation: RSI calculates the average gains and losses over a specified period to measure the speed and change of price movements. It oscillates between 0 and 100, with levels set to identify overbought (>70) and oversold (<30) conditions. MoneyFlow Indicator: Calculation: MoneyFlow is derived by multiplying price changes by volume and smoothing the results over specified periods. Fast MoneyFlow reacts quickly to price changes, while Slow MoneyFlow offers a broader view of capital movement trends. Stochastic RSI: Calculation: Stochastic RSI is computed by applying the Stochastic formula to RSI values, which highlights the RSI’s relative position within its range over a given period. This helps in identifying momentum shifts more precisely. //How to Use the Script// Display Settings: Users can enable or disable various components like WaveTrend OB & OS levels, MoneyFlow plots, and divergence alerts through checkboxes. Example: Turn on "Show Major Divergence" to see major bullish and bearish divergence signals directly on the chart. Adjust Channel Settings: Customize the data source, channel length, and smoothing periods in the "WaveTrend Channel SETTINGS" group. Example: Set the "Channel Length" to 10 for a more responsive WaveTrend line or adjust the "Average Channel Length" to 21 for smoother trends. Set Overbought & Oversold Levels: Configure levels for WaveTrend, RSI, and Stochastic RSI in their respective settings groups. Example: Set the WaveTrend Overbought Level to 60 and Oversold Level to -60 to define critical thresholds. Money Flow Settings: Adjust the periods and multipliers for Fast and Slow MoneyFlow indicators, and set their vertical positions for better visualization. Example: Set the Fast Money Flow Period to 9 and Slow Money Flow Period to 12 to capture both short-term and long-term capital movements. //Justification for Combining Indicators// Enhanced Market Analysis: Combining WaveTrend, RSI, and MoneyFlow provides a more comprehensive view of market conditions. Each indicator brings a unique perspective, making the analysis more robust. WaveTrend identifies cyclical trends, RSI measures momentum, and MoneyFlow tracks capital movement. Together, they provide a multi-dimensional analysis of the market. Improved Decision-Making: By integrating these indicators, the script helps traders make more informed decisions. For example, a bullish divergence detected by WaveTrend might be validated by an RSI moving out of oversold territory and supported by increasing MoneyFlow. Customization and Flexibility: The script offers extensive customization options, allowing traders to tailor it to their specific needs and strategies. This flexibility makes it suitable for different trading styles and timeframes. //Conclusion// The indicator stands out due to its innovative combination of WaveTrend, RSI, and MoneyFlow indicators, offering a well-rounded tool for market analysis. By understanding how each component works and how they complement each other, traders can leverage this script to enhance their market analysis and trading strategies, making more informed and confident decisions. Remember to always backtest the indicator first before implying it to your strategy.
Pine Script™ indicator
by WeloTrades
15
Heikin Ashi ROC Percentile Strategy**User Guide for the "Heikin Ashi ROC Percentile Strategy"** This strategy, "Heikin Ashi ROC Percentile Strategy", is designed to provide an easy-to-use framework for trading based on the Heikin Ashi Rate of Change (ROC) and its percentiles. Here's how you can use it: 1. **Setting the Start Date**: You can set the start date for the strategy in the user inputs at the top of the script. The variable `startDate` defines the point from which the script begins executing trades. Simply input the desired date in the format "YYYY MM DD". For example, to start the strategy from March 3, 2023, you would enter `startDate = timestamp("2023 03 03")`. 2. **Adjusting the Midline, Lookback Period, and Stop Loss Level**: The `zerohLine`, `rocLength`, and `stopLossLevel` inputs allow you to adjust the baseline for ROC, the lookback period for the SMA and ROC, and the level at which the strategy stops the loss, respectively. By tweaking these parameters, you can fine-tune the strategy to better suit your trading style or the particular characteristics of the asset you are trading. 3. **Understanding the Trade Conditions**: The script defines conditions for entering and exiting long and short positions based on crossovers and crossunders of the ROC and the upper and lower "kill lines". These lines are defined as certain percentiles of the ROC's highest and lowest values over a specified lookback period. When the ROC crosses above the lower kill line, the script enters a long position; when it crosses below the upper kill line, it exits the position. Similarly, when the ROC crosses below the upper kill line, the script enters a short position; when it crosses above the lower kill line, it exits the position. In my testing, this strategy performed best on a day and hour basis. However, I encourage you to experiment with different timeframes and settings to see how the strategy performs under various conditions. Remember, there's no one-size-fits-all approach to trading; what works best will depend on your specific circumstances, goals, and risk tolerance. If you find other useful applications for this strategy, please let me know in the comments. Your feedback is invaluable in helping to refine and improve this tool. Happy trading!
Pine Script™ strategy
by jensenvilhelm
1
Volatility Weighted Moving Average + Session Average linesHi Traders ! Just finished my Y2 university finals exams, and thought I would cook up a quick and hopefully useful script. VWAP + Session Average Lines : Volatility Weighted Average Price in the standard case is a trading indicator that measures the average trading price for the user defined period, usually a standard session (D timeframe), & is used by traders as a trend confirmation tool. This VWAP script allows for altering of the session to higher dimensions (D, W, M) or those of lower dimension (H4, or even H1 timeframes), furthermore this script allows the lookback of data to be switched from the standard session to a user defined amount of bars (e.g. the VWAP of 200 bars as opposed to the VWAP of a standard session which contains 95 bars in M15 timeframe for 24/7 traded assets e.g. BTCUSD), lastly this script plots Session VWAP Average Lines (if true in settings) so tradaes can gauge the area of highest liquidity within a session, this can be interpreted as the fair price within a session. If Average lines are increasing and decreasing consistently like a monotonic function this singles traders interest is at higher / lower prices respectively (Bullish / Bearish bias respectively ?), However if Average lines are centered around the same zones without any major fluctuations this signals a ranging market. VWAP calculation : VWAP is derived from the ratio of the assets value to total volume of transactions where value is the product of typical price (Average of high, low and close bars / candles) and corresponding bar volume, value can be thought of as the dollar value traded per bar. How is VWAP used by Institutions / Market movers : For some context and general information, VWAP is typically used by Market movers (e.g. Hedge funds, Mutual funds ,..., ...) in their trade execution, as trading at the VWAP equals the area of highest market volume, trading in line with the volume of the market reduces transaction costs by minimizing market impact (extra liquidity lowers spreads and lag time between order fills), this overall improves market efficiency. In my opinion the script is best used with its standard settings on the M15 timeframe, note as of now the script is not functional on certain timeframes, however this script is not intended to be used in these timeframes, i will try fix this code bug as soon as possible.
Pine Script™ indicator
by Amjad_S
3
Crypto Index Percentage GainThis script calculates the percentage gain from the left-most visible candle for multiple cryptocurrency symbols and plots all of them on the chart. Description: The "Crypto Index Percentage Gain" indicator calculates the percentage gain from the left-most visible candle for a selection of cryptocurrency symbols. It utilizes the PineCoders VisibleChart library to access the high, low, close, and open prices of the visible chart range. The user can customize the symbols to include in the calculation by enabling or disabling the corresponding input options. `_open` represents the open price, `_close` represents the close price, and `_gain` represents the calculated percentage gain. The formula used is (close - open) / open * 100 to calculate the percentage change between the open and close prices. The calculated percentage gains for each symbol are plotted on the chart using different colors and line widths, providing an overview of the relative performance of the symbols. Usage: Add the "Crypto Index Percentage Gain" indicator to your trading view chart by searching it in indicator search bar or star it , it will show on your favourite indicators . Configure the symbols and visibility options using the input parameters. The indicator will calculate and display the percentage gain for each selected symbol based on the left-most visible candle on the chart. Code Explanation: The script imports the PineCoders VisibleChart library for accessing the visible chart range. It defines a function `f_pcr()` to calculate the percentage gain for a given symbol. Input options are provided to enable or disable symbols and set their visibility. Symbols are defined using `input.symbol()` and the percentage gains are calculated using `request.security()`. The calculated percentage gains for each symbol are plotted on the chart using different colors and line widths. thanks to @PineCoders for VisibleChart library.
Pine Script™ indicator
by TJalam
Intraday predictive High Volume Activity sessions [BEA]Idea: This indicator is designed to know the high traded volume sessions in advance before the day starts. The predictive volume bars will be plotted in advance once a new trading session starts. Logic Used: The basic idea is to store each bar volume / Volume MA data for the selected time. So, the first bar of each data is stored for all selected historical days. Once the data is stored, I am taking average of each bar data for the selected Historical days. How to Use: This gives me an idea of the volume behavior throughout the days based on historical data. So I decide my time of trading for that specific times sessions where the traded volume activity is high. The bars which are more than the Moving average ( Highlighted Volume bars plotted in future ) is the time session to focus. Designed only for intraday timeframes. Here in the image, you can see the session in advance for high traded volume activity. Try it test it , let me know if it can be improved further. Have a happy trading. DISCLAIMER Any and all liability for risks resulting from investment transactions or other asset dispositions carried out by the user based on information received or a market analysis is expressly excluded by me. All the information made available here is generally provided to serve as an example only, without obligation and without specific recommendations for action. It does not constitute and cannot replace investment advice. We therefore recommend that you contact your personal financial advisor before carrying out specific transactions and investments. Do your own research, this is not a financial advice.
Pine Script™ indicator
by TJalam
16
Short Selling EMA Cross (By Coinrule)BINANCE:AVAXUSDT This short selling script works best in periods of downtrends and general bearish market conditions, with the ultimate goal to sell as the the price decreases further and buy back before a rebound. This script can work well on coins you are planning to hodl for long-term and works especially well whilst using an automated bot that can execute your trades for you. It allows you to hedge your investment by allocating a % of your coins to trade with, whilst not risking your entire holding. This mitigates unrealised losses from hodling as it provides additional cash from the profits made. You can then choose to to hodl this cash, or use it to reinvest when the market reaches attractive buying levels. Entry The exponential moving average ( EMA ) 20 and EMA 50 have been used for the variables determining the entry to the short. EMAs can operate better than simple moving averages due to the additional weighting placed on the most recent data points, whereas simple moving averages weight all the data the same. This means that price is tracked more closely and the most recent volatile moves can be captured and exploited more efficiently using EMAs. Our backtesting data revealed that the most profitable timeframe was the 30-minute timeframe, this also enabled a good frequency of trades and high profitability. A fast (shorter term) exponential moving average , in this strategy the EMA 20, crossing under a slow (longer term) moving average, in this example the EMA 50, signals the price of an asset has started to trend to the downside, as the most recent data signals price is declining compared to earlier data. The entry acts on this principle and executes when the EMA 20 crosses under the EMA 50. Enter Short: EMA 20 crosses under EMA 50. Exit This script utilises a take profit and stop loss for the exit. The take profit is set at -8% and the stop loss is set at +16% from the entry price. This would normally be a poor trade due to the risk:reward equalling 0.5. However, when looking at the backtesting data, the high profitability of the strategy (93.33%) leads to increased confidence and showcases the high probability of success according to historical data. The take profit (-8%) and the stop loss (+16%) of the strategy are widely placed to ensure the move is captured without being stopped out due to relief rallies. The stop loss also plays a role of mitigating losses and minimising risk of being stuck in a short position once there has been a fundamental trend reversal and the market has become bullish . Exit Short: -8% price decrease from entry price. OR Exit Short: +16% price increase from entry price. Tip: Research what coins have consistent and large token unlocks / highly inflationary tokenomics, and target these during bear markets to short as they will most likely have substantial selling pressure that outweighs demand - leading to declining prices. The strategy assumes each order is using 30% of the available coins to make the results more realistic and to simulate you only ran this strategy on 30% of your holdings. A trading fee of 0.1% is also taken into account and is aligned to the base fee applied on Binance. The backtesting data was recorded from December 1st 2021, just as the market was beginning its downtrend. We therefore recommend analysing the market conditions prior to utilising this strategy as it operates best on weak coins during downtrends and bearish conditions.
Pine Script™ strategy
by Coinrule
Best Volatility CalculatorHello traders, This indicator shows the average volatility, of last N Periods, for the selected time frames. You can select up to 2 timeframes with this version Volatility is defined as the close of current candle - close of the previous N candle Presented as Currency, Pip, percentage labels in a panel below. Will calculate in real-time only for the current instrument on the chart. The indicator is coded to not be repainting Example In the indicator screenshot, I used a lookback period of 1. That compares the current candle close versus the previous one for the daily and weekly timeframe Showing how the results are calculated for the weekly calculations Enjoy :) Best regards Dave
Pine Script™ indicator
by Daveatt
TRADING VIEW INDICATOR - PINE TUTORIAL 5After a long gap, I have written the 5th tutorial for the pine script. You can find the others below, if you read through all of these you should be good to do your own writing. This script mimics the Trading View Indicator . For example this one below. www.tradingview.com It shows the net result of the 28 indicator, either as buy or sell. I have worked hard to make sure it matches the trading view results but I am not in hundred percent agreement with tradingView on SMA, EMA and Ichimoku indicator. There are many commented plots because I needed to check separately if each indicator is working correctly. Someone else wrote this code but they did not make it public. It took me about 3 weeks to write this and to be honest it could be cleaner and better commented. If you find any mistake please let me know. I hope it will be useful in your learning.
Pine Script™ indicator
by MartinMystere
3
BullTrading MultiTimeFrame ATR %Good afternoon traders. Have you ever got trapped on the middle of a consolidation? Well, it just happened to me trading the 1 minute chart last friday! So, I coded this script to display a percentage of ATR for a given resolution. Now, how can you benefit using this information? For example: Using the standard settings (resolution is calibrated 15 minutes in order to trade 1minute charts), just draw your prefered support and resistance. Then measure the number of pips between support and resistance. This number should be approximately the same the indicator is displaying. If the indicator is displaying a lower value, maybe it will be a good idea to tighten your support/resistance levels (if the price goes against you, you will have confidence and probability on your side to open an opposite position and reach your Take profit before a new reversal take place. Change colors and resolution for your desired timeframe until you find your particular "sweet spot" Have a nice trading week.
Pine Script™ indicator
by BullTradingAM
3
BullTrading SwingHigh/SwingLowTraders, good afternoon... are you in a mood for an excellent Institutional Trading Course? Best of all for FREE!! (please use this valuable information with respect, there are people selling the information contained in this course as their own). This guy has more than 20 years of trading experience under his belt. This information is a real gem for any trader, no matter the timeframe you trade. This script is a tribute for ICT production and shows the swing highs and swing lows used on institutional trading (Use it in D and 4H timeframes resolution for analysis in order to apply manual trading in lower timeframes). Here is the link to the ICT Sniper Institutional Trading Course. Enjoy www.dropbox.com
Pine Script™ indicator
by BullTradingAM
5
Moving averages and bandsI coded this simple indicator based on multiple ideas shared by Tim West at his "Key Hidden Levels" chatroom. We have a moving average ribbon comprised of the average of the highs and lows in 10 periods. The colored space in between acts more or less like fair value and is often where price is when consolidating. Green and red triangles at the top and bottom of the screen. The ones at the bottom, correspond to signals obtained from a 4 period moving average of the close's slope. It helps get excellent exits for trending moves by changing color with the moving average slope. The ones at the top, are green while Bollinger Band Width increases, and red while it decreases, relative to the previous bar. Background color highlights when the close moves over the moving average of the highs or under the moving average of the lows, indicating a change of trend is possible, or at least a pause/consolidation. The idea is to have multiple reasons to stay in a trade, which is normally very hard to do, specially when winning. Cheers, Ivan Labrie Time at Mode FX
Pine Script™ indicator
by IvanLabrie
4