No Buyers or Sellers (Volume Threshold)This indicator shows areas on the second or minute charts that lack buyer or seller activity in the form of volume. This is configurable in the code itself by the user.
This can be used to close a trade because there is no desire shown by the market to continue the trend.
Trend Analysis
MA OrderBlocks [AlgoAlpha]🟨 HMA OrderBlocks by AlgoAlpha is a powerful tool designed to help traders visualize key pivot zones and order blocks based on the Hull Moving Average (HMA). By dynamically identifying bullish and bearish pivot points, this script provides insights into potential price reversals and trend continuations. With customizable settings, it allows traders to tweak the behavior of the indicator to match their strategies. Plus, it comes packed with built-in alerts for trend changes, making it easier to spot potential trade opportunities.
Key Features :
📊 Trend Detection : Utilizes Hull Moving Average to detect the current trend.
🟢🔴 Bullish & Bearish Zones : Automatically plots bullish and bearish order blocks, using customizable colors for clear visual cues.
🎯 Pivot Points : Detects and marks pivot highs and lows, helping traders spot key price reversals.
🚨 Alerts : Built-in alert system for when the price approaches key bullish or bearish zones, or when the trend changes.
🔨 Customizable MA: Choose from various moving averages (SMA, HMA, EMA, etc.) to suit your strategy.
How to Use :
⭐ Add the Indicator : Add the indicators to favourites by pressing the star icon. Once added, configure settings like the Hull MA period and pivot detection period.
📈 Analyze the Chart : Watch for the plotted order blocks and pivot points to identify possible price action strategies.
🔔 Enable Alerts : Set up alerts to be notified of potential trend reversals or when the price nears a bullish/bearish block.
How It Works :
The script starts by calculating the Hull Moving Average (HMA) based on the user-defined length, which is used to determine the market trend direction. It compares the current HMA value with the previous one to confirm whether the price is trending upwards or downwards. Once a trend change is detected, it plots bullish or bearish order blocks based on recent pivot highs and lows. These zones are extended in real-time as long as they remain invalidated. Zones are invalidated are invalidated when price completely closes through them. If the price gets close to a zone in the opposing direction, a warning system alerts the user that the block may not hold. Additionally, customizable alerts trigger whenever the price trend shifts or the price gets near important bullish/bearish blocks. The script’s logic ensures that order blocks are cleared if price violates them, keeping the chart clean and updated.
Prime Multi-Ticker Screener: Real-Time Market StructurePrime Multi-Ticker Screener: Real-Time Market Structure and Trend Detection Tool
Prime Multi-Ticker Screener is designed to track multiple tickers simultaneously, providing real-time insights into market trends and structure changes such as CHoCH (Change of Character) and BOS (Break of Structure). This tool is perfect for traders looking to monitor multiple assets across different timeframes while receiving clear signals that highlight critical market shifts. The indicator delivers instant visual feedback with color-coded backgrounds to make interpreting signals easy and efficient.
Core Features of Prime Multi-Ticker Screener
Multi-Ticker Monitoring: Track up to 5 tickers across multiple timeframes in a single dashboard. This makes it easy to watch several assets at once without cluttering your chart.
CHoCH and BOS Detection: The screener automatically detects and highlights significant market structure shifts. CHoCH signals are shown when a trend reverses or consolidates, while BOS signals indicate a break in previous highs or lows, helping traders catch potential trend reversals early.
Color-Coded Visuals: The background of each signal cell dynamically changes color to represent bullish or bearish signals. Green indicates bullish activity, while red highlights bearish market shifts, making it easy for traders to identify key movements at a glance.
Close Price and ATR Data: For each ticker, the screener displays both the current close price and the 14-period Average True Range (ATR), providing important volatility information to support decision-making.
Detailed Explanation of How Prime Multi-Ticker Screener Works
Prime Multi-Ticker Screener combines trend detection with real-time market structure analysis to deliver comprehensive market insights. It analyzes the following components:
CHoCH Detection: Change of Character occurs when the market switches from trending to ranging or vice versa. This indicator catches these moments by identifying when prices cross pivot levels, providing traders with a valuable signal of potential market phase changes.
BOS Detection: The Break of Structure function highlights moments when the price breaks a significant high or low, often indicating the start of a new trend or the continuation of an existing one.
Close Price & ATR Monitoring: Alongside market structure signals, the screener provides real-time data on the close price and the Average True Range (ATR), ensuring traders have a complete picture of the price and volatility landscape for each asset they are tracking.
Why It's Useful for Traders
Prime Multi-Ticker Screener is a versatile tool that offers substantial benefits to traders who want to stay informed about multiple assets and trends simultaneously:
Comprehensive Monitoring: Track multiple assets in real time, all from a single indicator. Whether you trade crypto, forex, or stocks, this tool helps you stay on top of market movements across different assets and timeframes.
Market Structure Analysis: The automatic detection of CHoCH and BOS signals gives traders an edge by identifying potential reversals and trend continuations as they happen, allowing for more timely and informed trading decisions.
Efficient and Intuitive Design: The screener is designed with simplicity in mind. The color-coded backgrounds quickly alert traders to market structure shifts without overwhelming them with data, making it ideal for those who need to act fast.
How It Works: Practical Usage
Prime Multi-Ticker Screener is ideal for:
Day traders: The real-time tracking of multiple assets allows day traders to quickly spot trading opportunities across different markets.
Swing traders: CHoCH and BOS detection help swing traders catch key market structure shifts, helping them align trades with emerging trends.
Trend followers: The screener provides instant feedback on when a trend is continuing or breaking, helping trend-following traders maintain their positions or exit early when needed.
By combining multiple key metrics—price, volatility, and market structure—Prime Multi-Ticker Screener ensures traders are well-equipped to manage their positions across a variety of assets.
Risk Disclaimer
While Prime Multi-Ticker Screener provides valuable market insights, it's important to remember:
Past performance is not indicative of future results: This screener provides analysis based on historical data, and no indicator can predict future market movements with certainty.
Market Conditions: The effectiveness of Prime Multi-Ticker Screener may vary in different market conditions, so traders should always use proper risk management when trading.
Trading Risks: Like any trading tool, Prime Multi-Ticker Screener should be used as part of a comprehensive trading strategy, including risk management techniques such as stop-loss orders and position sizing.
Ultra Money FlowIntroduction
The Ultra Money Flow script is a technical indicator for analyzing stock trends. It highlights buying and selling power, helping you identify bullish (rising) or bearish (falling) market trends.
Detailed Description
The Ultra Money Flow script calculates and visually displays two main components: Fast and Slow money flow. These components represent short-term and long-term trends, respectively.
Here's how it works:
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Inputs
You can adjust the speed of analysis (Fast Length and Slow Length) and the type of smoothing applied (e.g., Simple Moving Average, Exponential Moving Average).
Choose colors for visualizing the trends, with blue for bullish (positive) and orange for bearish (negative) movements.
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Money Flow Calculation
The script analyzes price changes (delta) over specified periods.
It separates upward price movements (buying power) from downward ones (selling power).
It then calculates the difference between these powers for both Fast and Slow components.
The types of smoothing methods range from traditional ones like the Simple Moving Average (SMA) to advanced ones like the Double Expotential Moving Average (DEMA) or the Triple Exponential Moving Average (TEMA) or the Recursive Moving Average (RMA) or the Weigthend Moving Average (WMA) or the Volume Weigthend Moving Average (VWMA) or Hull Moving Average (HMA).
Very Special ones are the Triple Weigthend Moving Average (TWMA) wich created RedKTrader .
I created the Multi Weigthend Moving Average (MWMA) wich is a simple signal line to the TWMA.
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Divergence
This indicator can show divergence by comparing the direction of price movements with the indicator value.
If the price and the indicator move in opposite directions, you can use these signals to help decide when to buy or sell.
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Auto Scaling
The script adjusts its calculations based on the time frame you are viewing, whether it's minutes, hours, or days, ensuring accurate representation across different time scales.
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Plotting
The script plots the Fast component as a histogram and the Slow component as a line, using the chosen colors to indicate bullish or bearish trends.
The thickness and transparency of these plots give additional clues about the strength of the trend.
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By using this indicator, traders can easily spot shifts in buying and selling power, allowing for better-informed decisions in the market.
Special Thanks
I use the TWMA-Function created from RedKTrader to smooth the values.
Special thanks to him for creating and sharing this function!
ADX & DI with dynamic threshold indicator
ADX and DI with Dynamic Threshold
This Pine Script indicator, "ADX & DI with Dynamic Threshold," helps traders detect trends, trend reversals, and trend strength using the Average Directional Index (ADX) and the Directional Indexes (DI+ and DI-). It incorporates a dynamic threshold calculated using the average ADX over a user-defined period, along with a fixed minimum threshold, making trend detection more flexible and adaptable.
ADX and Directional Indexes (DI+ and DI-)
ADX measures the strength of a trend, while DI+ and DI- measure the direction of the trend. High DI+ signals upward price strength, and high DI- signals downward price strength.
Dynamic Threshold
A threshold based on the average ADX over a certain number of periods, ensuring the indicator adapts to market conditions. The threshold is compared to DI+ and DI- to generate trend signals.
Fixed Minimum Threshold
A user-defined minimum threshold ensures that signals are only generated in markets with a certain level of trend strength, preventing false signals in low-trending markets.
Visual Highlights
The background color highlights:
Green for potential uptrend,
Red for potential downtrend, and
Orange when directional movement is strong but trend strength is weak, helping traders avoid false signals in sideways markets.
Customization
Several input parameters allow for complete customization of the indicator, ensuring it can adapt to different timeframes and assets.
How to Use
Length (len)
This is the smoothing period used to calculate the ADX and DI+/- values. Range: 5 to 50 (default: 14).
Threshold Period (th_period)
Determines the number of periods over which the dynamic ADX threshold is calculated. Range: 5 to 200 (default: 50).
Fixed Minimum Threshold (fixed_th)
The minimum ADX value that must be exceeded for the indicator to trigger signals. Range: 10 to 40 (default: 20).
Smoothing Method
Choose between SMA (Simple Moving Average) or EMA (Exponential Moving Average) for smoothing the true range and directional movement calculations.
DI+ (Green)
Indicates the strength of upward price movements.
DI- (Red)
Indicates the strength of downward price movements.
ADX (Navy)
Indicates the overall strength of the trend, regardless of direction.
Dynamic Threshold (Gray)
The dynamic threshold used for comparing ADX values.
Fixed Threshold Line
A dotted black line showing the user-defined minimum threshold for ADX.
Green Background
Indicates a potential uptrend when DI+ > DI- and ADX is above the threshold.
Red Background
Indicates a potential downtrend when DI- > DI+ and ADX is above the threshold.
Orange Background
Indicates that DI+ or DI- are strong, but ADX is weak, suggesting a lack of trend strength despite directional movement, which could lead to false signals.
Adjust the length (len) based on the volatility of the asset. A lower len (e.g., 10) may be suitable for faster timeframes (like 5-min charts), while a higher value (e.g., 20-30) may work better on longer timeframes.
Use the threshold period (th_period) to fine-tune the dynamic ADX threshold. A higher value smooths the dynamic threshold over a longer period, making it more resistant to sudden volatility.
Fixed Threshold (fixed_th) should be set based on the strength of trends you want to capture. A higher value (e.g., 30-40) is more conservative and will only trigger signals in very strong trends.
Example Usage
This indicator can be used to:
Identify trends: When the ADX crosses the threshold and DI+ or DI- is dominant, indicating an uptrend or downtrend.
Spot trend reversals: When DI+ and DI- cross each other with a strong ADX reading.
Avoid false signals: By recognizing when DI+ or DI- are strong, but the ADX is below the threshold (highlighted in orange).
Conclusion
The ADX and DI with Dynamic Threshold indicator is a versatile tool for trend-following strategies. It adapts to market conditions using dynamic and fixed thresholds and provides clear visual signals to help traders make informed decisions about market direction and trend strength.
By adjusting the various input parameters, this indicator can be tailored to any asset class or timeframe, making it suitable for all types of traders, from scalpers to swing traders.
Feel free to experiment with different settings and incorporate this indicator into your trading strategy for enhanced market analysis.
DP-OCR MTF & MA 2024This script developed is designed for multi-timeframe analysis of previous open, close, and range, with additional signal plots based on various percentage extension levels. It also incorporates EMA calculations for crossover strategies. Here's a quick breakdown of what the script does:
Key Features:
1. Timeframes:
o Two separate timeframes (TF1 and TF2), which can be set by the user (e.g., 15 mins, 30 mins, daily, etc.). The script computes price actions and extensions for both timeframes. For better analysis, use Daily in TF1 and Weekly in TF2
2. Extension Levels:
o Calculates and plots 10%, 21%, 31%, 51%, and 61% extensions (both positive and negative) for each timeframe.
o The most commonly used extension levels are 61%, 31%, -61%, and -21%.
o These extension levels can be turned on or off by the user.
3. Open/Close/Range:
o Tracks the high, low, open, and close for both timeframes.
o Highlights open/close gaps.
o Plots the previous high/low range for both timeframes with a fill and different colors based on price movement.
How to Use:
• You can toggle specific extension levels on or off in the script’s settings.
• For example, when price hits a +61% extension, it could signal a breakout, and when it hits a -61% extension, it may indicate a potential retracement.
• Use these levels in conjunction with your price action analysis to set entry/exit points or stop-loss levels.
4. Today’s Open:
o Plots today’s opening price for both timeframes.
How to Use:
• Use today’s open as a key reference point to determine the day’s price action.
• Compare today’s open with the previous high/low or extension levels to evaluate possible trends or reversals.
5. EMA Calculations:
o The script calculates 5, 15, and 20 period EMAs and plots them on the chart.
o Additional EMA crossover signals can be included for strategy optimization.
How to Use:
• Observe the EMAs for potential crossover signals. For example, a 5-period EMA crossing above a 15-period or 20-period EMA may signal a buy opportunity, while a crossover in the opposite direction may signal a sell.
• Combine the EMA crossovers with extension levels or previous price data to refine your entries and exits.
Customizations Available:
• Users can select whether to display extension levels for either timeframe.
• The script allows automatic adaptation to intraday, daily, weekly, or monthly timeframes based on the current chart settings.
Moreover, the extension levels are calculated based on the previous period’s range, with the most commonly usable extension levels being 61, 31, -61, and -21. These levels are often used for identifying potential price retracements, breakouts, or reversal points in technical analysis.
Donchian Channel Crosses_AITIndicator Name: Donchian Channel Crosses_AIT
Programming Language: Pine Script (TradingView)
Description
The Donchian Channel Crosses_AIT indicator is designed to provide trading signals based on the crossover of two Donchian Channels with different lookback periods. The indicator uses two channels, Donchian Channel A (default 7-day period) and Donchian Channel B (default 30-day period), to detect upward or downward momentum shifts. The signals are generated when the middle line of Donchian Channel A crosses above or below the middle line of Donchian Channel B.
Components
Donchian Channel A:
Default period: 7 days (modifiable by the user).
Middle Line: Calculated as the average of the highest high and lowest low over the period.
The middle line changes color depending on its position relative to Donchian Channel B.
Green: When Donchian Channel A's middle line is above Donchian Channel B's middle line.
Red: When Donchian Channel A's middle line is below Donchian Channel B's middle line.
Donchian Channel B:
Default period: 30 days (modifiable by the user).
Middle Line: Also calculated as the average of the highest high and lowest low over the period.
Always displayed as a white line with a line thickness of 1.
Long Signal:
Triggered when the middle line of Donchian Channel A crosses above the middle line of Donchian Channel B.
Displayed as a yellow triangle pointing up (L) below the price bar.
Short Signal:
Triggered when the middle line of Donchian Channel A crosses below the middle line of Donchian Channel B.
Displayed as a fuchsia triangle pointing down (S) above the price bar.
Settings
Donchian Channel A:
Default period: 7 days (modifiable via user input).
Middle line changes color based on its relationship to Donchian Channel B.
Donchian Channel B:
Default period: 30 days (modifiable via user input).
Middle line is always white and displayed with a line thickness of 1.
Signal Display:
Long Signal: A yellow "L" triangle is displayed when Donchian Channel A’s middle line crosses above Donchian Channel B’s middle line.
Short Signal: A fuchsia "S" triangle is displayed when Donchian Channel A’s middle line crosses below Donchian Channel B’s middle line.
Signals can be toggled on or off using the "Show Signals" setting.
Usage
Trend Confirmation:
Use this indicator to confirm trend direction by monitoring the relationship between Donchian Channel A and Donchian Channel B.
Uptrend: When Donchian Channel A’s middle line is above Donchian Channel B’s middle line (green line for Donchian A).
Downtrend: When Donchian Channel A’s middle line is below Donchian Channel B’s middle line (red line for Donchian A).
Entry and Exit Signals:
Long Signal: Enter a buy position when Donchian Channel A crosses above Donchian Channel B.
Short Signal: Enter a sell position when Donchian Channel A crosses below Donchian Channel B.
Visual Representation:
The Donchian Channels are drawn on the price chart, with Donchian Channel A dynamically changing color depending on its relative position to Donchian Channel B.
Volatility Trend Bands [UAlgo]The Volatility Trend Bands is a trend-following indicator that combines the concepts of volatility and trend detection. Built using the Average True Range (ATR) to measure volatility, this indicator dynamically adjusts upper and lower bands around price movements. The bands act as dynamic support and resistance levels, making it easier to identify trend shifts and potential entry and exit points.
With the ATR multiplier, this indicator effectively captures volatility-based shifts in the market. The use of midline values allows for accurate trend detection, which is displayed through color-coded signals on the chart. Additionally, this tool provides clear buy and sell signals, accompanied by intuitive graphical markers for ease of use.
The Volatility Trend Bands is ideal for traders seeking an adaptive trend-following method that responds to changing market conditions while maintaining robust volatility control.
🔶 Key Features
Dynamic Support and Resistance: The indicator utilizes volatility to create dynamic bands. The upper band acts as resistance, and the lower band acts as support for the price. Wider bands indicate higher volatility, while narrower bands indicate lower volatility.
Customizable Inputs
You can tailor the indicator to your strategy by adjusting the:
Price Source: Select the price data (e.g., closing price) used for calculations.
ATR Length: Define the lookback period for the Average True Range (ATR) volatility measure.
ATR Multiplier: This factor controls the width of the volatility bands relative to the ATR value.
Color Options: Choose colors for the bands and signal arrows for better visualization.
Visual Signals: Arrows ("▲" for buy, "▼" for sell) appear on the chart when the trend changes, providing clear entry point indications.
Alerts: Integrated alerts for both buy and sell conditions, allowing you to receive notifications for potential trade opportunities.
🔶 Interpreting Indicator
Upper and Lower Bands: The upper and lower bands are dynamic, adjusting based on market volatility using the ATR. These bands serve as adaptive support and resistance levels. When price breaks above the upper band, it indicates a potential bullish breakout, signaling a strong uptrend. Conversely, a break below the lower band signals a bearish breakout, indicating a downtrend.
Buy/Sell Signals: The indicator provides clear buy and sell signals at breakout points. A buy signal ("▲") is generated when the price breaks above the upper band, suggesting the start of a bullish trend. A sell signal ("▼") is triggered when the price breaks below the lower band, indicating the beginning of a bearish trend. These signals help traders identify potential entry and exit points at key breakout levels.
Color-Coded Bars: The bars on the chart change color based on the trend direction. Teal bars represent bullish momentum, while purple bars signify bearish momentum. This color coding provides a quick visual cue about the market's current direction.
🔶 Disclaimer
Use with Caution: This indicator is provided for educational and informational purposes only and should not be considered as financial advice. Users should exercise caution and perform their own analysis before making trading decisions based on the indicator's signals.
Not Financial Advice: The information provided by this indicator does not constitute financial advice, and the creator (UAlgo) shall not be held responsible for any trading losses incurred as a result of using this indicator.
Backtesting Recommended: Traders are encouraged to backtest the indicator thoroughly on historical data before using it in live trading to assess its performance and suitability for their trading strategies.
Risk Management: Trading involves inherent risks, and users should implement proper risk management strategies, including but not limited to stop-loss orders and position sizing, to mitigate potential losses.
No Guarantees: The accuracy and reliability of the indicator's signals cannot be guaranteed, as they are based on historical price data and past performance may not be indicative of future results.
Global Liquidity Index and DEMA1001. Global Liquidity Index:
The code calculates global liquidity from economic data from multiple countries and regions. Specifically, it aggregates money supply data from major economies such as the United States, Europe, China, and Japan, and sums and adjusts them to get a global liquidity index.
This index is calculated by summing data from different sources and subtracting the impact of some financial instruments (such as reverse repurchase agreements, etc.), and then converting the result into a number in trillions. This can help analyze the liquidity conditions in global money markets.
2. ROC SMA (Simple Moving Average of Rate of Change):
The code calculates the rate of change (ROC) of the global liquidity index, which is a way to measure the speed of change of the index.
Then, a simple moving average (SMA) is applied to the rate of change, which helps smooth the data and identify trends.
The ROC SMA curve is displayed in yellow to help users observe the trend of liquidity changes.
3. DEMA (Double Exponential Moving Average):
DEMA is a more complex moving average that attempts to reduce the lag of the moving average and provide a more sensitive trend response.
The calculation method is to first calculate a standard exponential moving average (EMA), then calculate the EMA of this EMA, and use these two results to calculate DEMA.
The code allows users to set the period length of DEMA (default is 100), which can adjust the speed of DEMA's response to price changes.
The DEMA curve is displayed in blue, helping users to more accurately capture the trends and changes of global liquidity indicators.
Parabolic SAR Crosses_AITIndicator Name: Parabolic SAR Crosses_AIT
Purpose:
This indicator utilizes the Parabolic SAR to track price trends and generate buy (long) and sell (short) signals when the price crosses the Parabolic SAR line. The indicator is designed to help traders identify trend direction and potential trend reversals on the price chart.
Indicator Overview:
Indicator Parameters:
Parabolic SAR: The default settings for the Parabolic SAR are:
Step: 0.02
Maximum: 0.2 These values can be adjusted by the user to control the sensitivity of the SAR.
Signal Conditions:
Buy Signal (Long): A buy signal is generated when the price crosses above the Parabolic SAR line.
Sell Signal (Short): A sell signal is generated when the price crosses below the Parabolic SAR line.
How It Works:
Buy Signal:
When the price crosses above the Parabolic SAR line, it indicates a potential upward trend. A yellow triangle (L) will appear below the price bar, signaling a possible long entry.
Sell Signal:
When the price crosses below the Parabolic SAR line, it indicates a potential downward trend. A fuchsia triangle (S) will appear above the price bar, signaling a possible short entry.
Trend Detection:
Green Line: Indicates that the Parabolic SAR is below the price, suggesting an uptrend.
Red Line: Indicates that the Parabolic SAR is above the price, suggesting a downtrend.
Trend Reversal:
A trend reversal occurs when the Parabolic SAR switches positions relative to the price. This can be used to exit positions or enter positions in the opposite direction.
Customization:
Step Size: The step parameter controls how sensitive the Parabolic SAR is to price changes. A smaller step value (e.g., 0.01) makes the SAR less sensitive, while a larger step value (e.g., 0.05) makes it more sensitive.
Maximum: The maximum value defines the upper limit for the acceleration factor in the SAR calculation. A higher value allows the SAR to track the price more closely, while a lower value smooths the trend.
Visual Representation:
The Parabolic SAR line is plotted directly on the price chart as a solid line, using the appropriate colors (green or red) depending on the trend direction.
Long signals are indicated by small yellow triangles (L) below the price.
Short signals are indicated by small fuchsia triangles (S) above the price.
Usage Tips:
Combining with Other Indicators: While Parabolic SAR is a great tool for identifying trend direction, it may produce false signals in ranging or sideways markets. Combining this indicator with other trend confirmation tools, such as moving averages or the MACD, can improve its reliability.
Adjusting the Step and Maximum Values: In highly volatile markets, it might be useful to reduce the step value to avoid false signals. In more stable, trending markets, increasing the step value can make the SAR more responsive.
Position Management: Parabolic SAR can be used not only to enter trades but also to manage existing positions by acting as a trailing stop-loss. You can use the SAR value as a dynamic stop-loss level, adjusting it as the trend progresses.
Conclusion:
The Parabolic SAR Crosses_AIT indicator helps traders visually identify trend directions and possible trend reversals by plotting the Parabolic SAR directly on the price chart. With customizable settings for sensitivity and signals that indicate long or short positions, this indicator provides a clear and effective method to manage trades based on trend-following strategies.
Yesterday's Levels with 50% wick and Equilibrium## Script Description
This Pine Script indicator highlights key levels from the previous day’s daily candle on any timeframe chart. It focuses exclusively on marking the following:
1. **Previous Day’s High, Low, Open, and Close**:
- Horizontal lines are drawn to indicate the previous day's high, low, open, and close prices.
- These lines are white and extend across the chart.
2. **50% of Candle Wicks**:
- If the previous day’s candle has wicks, two additional lines mark 50% of the top wick and 50% of the bottom wick.
- These lines are green and dotted, representing half the wick’s height.
3. **Equilibrium (50% of the Full Candle)**:
- A horizontal red line marks the midpoint (equilibrium) of the entire previous day’s candle, from high to low.
- This line is thicker than the others to emphasize the equilibrium level.
The script works by focusing only on the previous day’s daily candle, ensuring that it doesn’t plot lines for any older candles. These levels are visible on all timeframes.
Bull Bear Power With EMA FilterDescription of Indicator:
This Pine Script indicator colors price bars based on the open price in relation to custom moving averages (EMA/SMA), Bull/Bear Power (BBPower), and an optional VWAP filter. The bar colors help identify bullish and bearish conditions with added visual cues for price positioning relative to VWAP.
Key Features:
Customizable Moving Averages (EMA/SMA):
The user can select between EMA or SMA for both short-term and long-term moving averages.
Default moving averages are set to 5 (short-term) and 9 (long-term) but can be adjusted by the user.
Bullish Condition (Blue or Purple Bars):
A bar is colored blue if the following conditions are met:
The open price is above both the short-term and long-term moving averages.
The short-term moving average (MA 1) is above the long-term moving average (MA 2).
BBPower (open price minus the 13-period EMA) is positive, indicating bullish strength.
If the VWAP filter is enabled and the price opens below VWAP, the bullish bars will turn purple.
Bearish Condition (Yellow or Orange Bars):
A bar is colored yellow if the following conditions are met:
The open price is below both the short-term and long-term moving averages.
The short-term moving average (MA 1) is below the long-term moving average (MA 2).
BBPower is negative or zero, indicating bearish market conditions.
If the VWAP filter is enabled and the price opens above VWAP, the bearish bars will turn orange.
VWAP Filter (Optional):
An optional filter allows the user to add VWAP (Volume-Weighted Average Price) to the bar coloring logic.
When the VWAP filter is enabled, it provides additional information about price positioning relative to VWAP, turning bullish bars purple and bearish bars orange depending on whether the price opens above or below VWAP.
Usage:
Bullish Trend: Look for blue or purple bars to identify potential bullish momentum.
Bearish Trend: Look for yellow or orange bars to spot bearish conditions in the market.
The indicator allows users to customize the length and type of moving averages (EMA or SMA), as well as decide whether to apply the VWAP filter.
This indicator provides traders with clear visual signals to quickly assess the strength of bullish or bearish conditions based on the price's position relative to custom moving averages, BBPower, and VWAP, helping with trend identification and potential trade setups.
Hull MA with Alerts and LabelsThis script is designed to help traders visually track market trends using various types of moving averages (MAs) and to receive alerts when certain conditions are met. Here’s a detailed breakdown of how the script works:
1. User Inputs and Customization:
MA Length: Traders can define the length of the moving average (default is 100).
Confirmation Candles: The trader can specify how many candles must confirm a trend before the script triggers a signal (default is 1).
MA Variation: The trader can choose between different moving average types: Simple Moving Average (SMA), Exponential Moving Average (EMA), Weighted Moving Average (WMA), or Hull Moving Average (HMA).
Source: Traders select the price source for the moving average calculation (e.g., close price).
Ribbon Transparency: Allows control over the transparency level of the ribbon plotted between the moving averages.
Bullish/Bearish Ribbon Colors: The user can choose the colors for bullish and bearish trends.
2. Moving Average Calculations:
The script provides multiple options for calculating moving averages:
SMA (Simple Moving Average)
EMA (Exponential Moving Average)
WMA (Weighted Moving Average)
HMA (Hull Moving Average)
For the Hull Moving Average (HMA), it uses a specific formula that smoothens the movement and reduces lag, which is helpful for more reactive trend detection.
3. Plotting Moving Averages and Trend Ribbon:
The script calculates two key moving averages:
MHULL: The main moving average, selected based on the user’s chosen MA variation and source.
SHULL: A shifted version of the MHULL to help compare trends (shifted by 2 bars).
These two moving averages are plotted on the chart for visualization. MHULL is plotted in green (or another color if changed), while SHULL is plotted in red. A ribbon is drawn between MHULL and SHULL to indicate trends visually. The ribbon changes color depending on whether the trend is bullish (MHULL > SHULL) or bearish (MHULL < SHULL). The ribbon’s transparency can be adjusted for visual clarity.
4. Trend Detection:
Bullish Trend: The script checks if the price has closed above MHULL for the defined number of confirmation candles. If confirmed, a bullish trend is detected.
Bearish Trend: Similarly, the script checks if the price has closed below SHULL for the confirmation period, indicating a bearish trend.
The script tracks whether the market is in a bullish or bearish trend and prevents repeated signals by remembering the current trend state.
5. Alerts and Labels:
Bullish Alerts and Labels: When a confirmed bullish trend is detected (i.e., price closes above MHULL for the entire confirmation period and MHULL > SHULL), the script triggers an alert notifying the trader of the bullish condition. A "BULLISH" label is placed on the chart near the low of the candle where the trend was confirmed.
Bearish Alerts and Labels: If a confirmed bearish trend is detected (i.e., price closes below SHULL for the confirmation period and MHULL < SHULL), the script triggers an alert for the bearish condition. A "BEARISH" label is placed on the chart near the high of the candle where the trend was confirmed.
These alerts and labels help traders act quickly on trend changes and align their trading strategy with market conditions.
6. Practical Use for Traders:
For traders, this script offers:
Customizability : It allows traders to define the length and type of moving averages, choose price sources, and control how signals are confirmed.
Visual Trend Representation : The plotted MA lines and colored ribbons help traders easily see market direction.
Early Warnings : With alerts and labels, the script gives traders early signals when trends are shifting, allowing them to adjust positions accordingly.
Trend Confirmation : The script waits for a user-defined number of confirmation candles before signaling a new trend, reducing false signals.
Overall, the script helps traders automate their strategy by tracking moving averages and alerting them when key trend conditions are met.
Color Coded RSI [Phantom]Color Coded RSI
The Color Coded RSI enhances the standard RSI (Relative Strength Index) by applying dynamic color coding to the price bars, making it easier to visualize RSI levels directly on the chart.
Key Feature:
RSI-Based Color Coding: Price bars change color based on RSI values. High RSI values (above 70) show warm colors (red/orange), signaling potential overbought conditions, while low RSI values (below 30) display cool colors (blue), indicating possible oversold levels.
How to Trade with Color Coded RSI:
Overbought (Red/Orange Bars):
When the bars turn red or orange (RSI above 70), the market might be overbought. This could be a signal to sell or exit long positions, expecting a pullback.
Oversold (Blue Bars):
Blue bars (RSI below 30) suggest the market is oversold. Look for buying opportunities or consider exiting short positions, anticipating a rebound.
Neutral (Gray/Green Bars):
Gray or green bars (RSI near 50) indicate neutral conditions. You may want to wait for a clearer trend before taking action.
RSI is best used with other indicators to provide confirmations.
Pure Price Action ICT Tools [LuxAlgo]The Pure Price Action ICT Tools indicator is designed for pure price action analysis, automatically identifying real-time market structures, liquidity levels, order & breaker blocks, and liquidity voids.
Its unique feature lies in its exclusive reliance on price patterns, without being constrained by any user-defined inputs, ensuring a robust and objective analysis of market dynamics.
🔶 MARKET STRUCTURES
A Market Structure Shift, also known as a Change of Character (CHoCH), is a pivotal event in price action analysis indicating a potential change in market sentiment or direction. An MSS occurs when the price reverses from an established trend, signaling that the prevailing trend may be losing momentum and a reversal might be underway. This shift is often identified by key technical patterns, such as a higher low in a downtrend or a lower high in an uptrend, which indicate a weakening of the current trend's strength.
A Break of Structure typically indicates the continuation of the current market trend. This event occurs when the price decisively moves beyond a previous swing high or low, confirming the strength of the prevailing trend. In an uptrend, a BOS is marked by the price breaking above a previous high, while in a downtrend, it is identified by the price breaking below a previous low.
While a Market Structure Shift (MSS) can indicate a potential trend reversal and a Break of Structure (BOS) often confirms trend continuation, they do not assure a complete reversal or continuation. MSS and BOS levels can also function as liquidity zones or areas of price consolidation rather than definitively signaling a change in market direction. Traders should approach these signals cautiously and validate them with additional factors before making trading decisions. For further details on other components of the tool, please refer to the following sections.
🔶 ORDER & BREAKER BLOCKS
Order and Breaker Blocks are key concepts in price action analysis that help traders identify significant levels in the market structure.
Order Blocks are specific price zones where significant buying or selling activity has occurred. These zones often represent the actions of large institutional traders or market makers, who execute substantial orders that impact the market.
Breaker Blocks are specific price zones where a strong reversal occurs, causing a break in the prevailing market structure. These blocks indicate areas where the price encountered significant resistance or support, leading to a reversal.
In summary, Order and Breaker Blocks are essential tools in price action analysis, providing insights into significant market levels influenced by institutional trading activities. These blocks help traders make informed decisions about potential support and resistance levels, trend reversals, and breakout confirmations.
🔶 BUYSIDE & SELLSIDE LIQUIDITY
Both buy-side and sell-side liquidity zones are critical for identifying potential turning points in the market. These zones are where significant buying or selling interest is concentrated, influencing future price movements.
In summary, buy-side and sell-side liquidity provide crucial insights into market demand and supply dynamics, helping traders make informed decisions based on the availability of orders at different price levels.
🔶 LIQUIDITY VOIDS
Liquidity voids are gaps or areas on a price chart where there is a lack of trading activity. These voids represent zones with minimal to no buy or sell orders, often resulting in sharp price movements when the market enters these areas.
In summary, liquidity voids are crucial areas on a price chart characterized by a lack of trading activity. These voids can lead to rapid price movements and increased volatility, making them essential considerations for traders in their analysis and decision-making processes.
🔶 SWING POINTS
Reversal price points are commonly referred to as swing points. Traders often analyze historical swing points to discern market trends and pinpoint potential trade entry and exit points.
Do note that in this script these are subject to backpainting, that is they are not located where they are detected.
The detection of swing points and the unique feature of this script rely exclusively on price action, eliminating the need for numerical user-defined settings. The process begins with detecting short-term swing points:
Short-Term Swing High (STH): Identified as a price peak surrounded by lower highs on both sides.
Short-Term Swing Low (STL): Recognized as a price trough surrounded by higher lows on both sides.
Intermediate-term and long-term swing points are detected using the same approach but with a slight modification. Instead of directly analyzing price candles, previously detected short-term swing points are utilized. For intermediate-term swing points, short-term swing points are analyzed, while for long-term swing points, intermediate-term ones are used.
This method ensures a robust and objective analysis of market dynamics, offering traders reliable insights into market structures. Detected swing points serve as the foundation for identifying market structures, buy-side/sell-side liquidity levels, and order and breaker blocks presented with this tool.
In summary, swing points are essential elements in technical analysis, helping traders identify trends, support, and resistance levels, and optimal entry and exit points. Understanding swing points allows traders to make informed decisions based on the natural price movements in the market.
🔶 SETTINGS
🔹 Market Structures
Market Structures: Toggles the visibility of the market structures, both shifts and breaks.
Detection: An option that allows users to detect market structures based on the significance of swing levels, including short-term, intermediate-term, and long-term.
Market Structure Labels: Controls the visibility of labels that highlight the type of market structure.
Line Style: Customizes the style of the lines representing the market structure.
🔹 Order & Breaker Blocks
Order & Breaker Blocks: Toggles the visibility of the order & breaker blocks.
Detection: An option that allows users to detect order & breaker blocks based on the significance of swing levels, including short-term, intermediate-term, and long-term.
Last Bullish Blocks: Number of the most recent bullish order/breaker blocks to display on the chart.
Last Bearish Blocks: Number of the most recent bearish order/breaker blocks to display on the chart.
Use Candle Body: Allows users to use candle bodies as order block areas instead of the full candle range.
🔹 Buyside & Sellside Liquidity
Buyside & Sellside Liquidity: Toggles the visibility of the buyside & sellside liquidity levels.
Detection: An option that allows users to detect buy-side & sell-side liquidity based on the significance of swing levels, including short-term, intermediate-term, and long-term.
Margin: Sets margin/sensitivity for a liquidity level detection.
Visible Levels: Controls the amount of the liquidity levels/zones to be visualized.
🔹 Liquidity Voids
Liquidity Voids: Enable display of both bullish and bearish liquidity voids.
Threshold Multiplier: Defines the multiplier for the threshold, which is hard-coded to the 200-period ATR range.
Mode: Controls the lookback length for detection and visualization. Present considers the last X bars specified in the option, while Historical includes all available data.
Label: Enable display of a label indicating liquidity voids.
🔹 Swing Highs/Lows
Swing Highs/Lows: Toggles the visibility of the swing levels.
Detection: An option that allows users to detect swing levels based on the significance of swing levels, including short-term, intermediate-term, and long-term.
Label Size: Control the size of swing level labels.
🔶 RELATED SCRIPTS
Pure-Price-Action-Structures.
Market-Structures-(Intrabar).
Buyside-Sellside-Liquidity.
Order-Breaker-Blocks.
Dynamic Touch Trendlines [QuantVue]The Dynamic Touch Trendlines (DTT) indicator automatically draws and manages trendlines on your chart, helping traders identify key support and resistance levels.
What sets the DTT indicator apart from other trendline indicators is its ability to let traders customize the number of touches required to validate a trendline. This flexibility allows you to fine-tune the indicator for different markets or trading styles, ensuring only strong trendlines with the specified number of touches are considered valid.
This indicator features both uptrend lines (drawn from pivot lows) and downtrend lines (drawn from pivot highs), making it suitable for detecting bullish and bearish trends.
An uptrend line connects three (default setting) or more significant lows, showing where price has historically found support. Traders often look for price to bounce off this line during pullbacks in an uptrend.
When price breaks below an uptrend line, it suggests a weakening of the bullish trend. This could mean that buyers are losing strength, and the market may be transitioning into a bearish phase, providing a potential opportunity for traders to enter short positions or exit long positions.
Conversely, a downtrend line connects three (default setting) or more significant highs, indicating potential resistance in a downtrend. Price action below this line can signal continued bearish momentum.
When price breaks above a downtrend line, it indicates a potential reversal of the bearish trend. This can signal the end of selling pressure and the beginning of a new bullish phase, offering traders a potential opportunity to enter long positions.
Key settings:
Minimum Touches: This sets the number of price touches required to validate a trendline. Increasing the minimum touches filters out weaker trends, ensuring that only more reliable trendlines are drawn.
Buffer: The buffer is used to account for minor price overshoots or near misses relative to the trendline. It creates a margin around the trendline, allowing price to come close to the line—whether it overshoots slightly or falls just short—and still count as a valid touch. This helps ensure that small price fluctuations or market noise don’t prevent valid trendline touches from being recognized, making the trendlines more reliable.
Trendline Break Source: Allows traders to define how a trendline is considered broken—either based on the close of the price bar or the wicks (highs and lows) of the price action.
The DTT indicator also features alerts whenever a new trendline is detected or an existing trendline is broken!
Dynamic ConfluenceThe Dynamic MA Confluence Indicator is a powerful tool designed to simplify your trading experience by automatically identifying the most influential moving average (MA) lengths on your chart. Whether you're using Simple Moving Averages (SMA) or Exponential Moving Averages (EMA), this indicator helps you pinpoint the MA length that holds the greatest confluence, allowing you to make informed trading decisions with ease.
How It Works:
This indicator analyzes a wide range of moving averages, from short-term to long-term, to determine which ones are closest to each other. By setting a "Proximity Percentage," you can control how close these MAs need to be to be considered as having confluence. The indicator then calculates the average of these close MAs to establish a dynamic support or resistance level on your chart.
Why Use This Indicator?
Automatic Optimization: Unsure of which MA length to apply? The indicator automatically highlights the MA length with the most confluence, giving you a clear edge in identifying significant market levels.
Adaptability: Choose between SMA and EMA to suit your trading strategy and market conditions.
Enhanced Decision-Making: By focusing on the MA length with the greatest influence, you can better anticipate market movements and adjust your strategies accordingly.
Customizable Sensitivity: Adjust the Proximity Percentage to fine-tune the indicator's sensitivity, ensuring it aligns with your trading preferences.
Key Feature:
Current Key Confluence MA Length: Displayed in an optional table, this feature shows the MA length that currently has the most impact on the confluence level, providing you with actionable insights at a glance.
Whether you're a seasoned trader or just starting, the Dynamic MA Confluence Indicator offers a streamlined approach to understanding market dynamics, helping you trade smarter and with more confidence. This presentation text is designed to clearly communicate the purpose, functionality, and benefits of the indicator, making it easy for users to understand its value and how it can enhance their trading strategies.
The Dynamic MA Confluence Indicator is a tool designed to assist traders in analyzing market trends. It should not be considered as financial advice or a guarantee of future performance. Trading involves significant risk, and it is possible to lose more than your initial investment. Users should conduct their own research and consider their financial situation before making trading decisions. Always consult with a financial advisor if you are unsure about any trading strategies or decisions. This disclaimer is intended to remind users of the inherent risks in trading and the importance of conducting their own due diligence.
buysellsignal-yashgode9The "buysellsignal-yashgode9" indicator utilizes a signal library to generate buy and sell signals based on price action, allowing traders to make informed decisions in their trading strategies.
Overview of the Indicator
The "buysellsignal-yashgode9" indicator is a technical analysis tool that identifies potential buying and selling points in the market. It does this by leveraging a signal library imported from `yashgode9/signalLib/2`, which contains predefined algorithms for analyzing market trends based on specified parameters.
Key Features
1.Input Parameters: The indicator allows users to customize several parameters:
- Depth: Determines the number of bars to look back for price analysis (default is 150).
- Deviation: Sets the threshold for price movement (default is 120).
- Backstep: Defines how many bars to step back when evaluating signals (default is 100).
- Label Transparency: Adjusts the transparency of labels displayed on the chart.
- Color Customization: Users can specify colors for buy and sell signals.
2.Signal Generation: The core functionality is driven by the `signalLib.signalLib` function, which analyzes the low and high prices over the specified depth and deviation. It returns a direction indicator along with price points (`zee1` and `zee2`) that are used to determine whether to issue a buy or sell signal.
3. Labeling and Visualization:
- The indicator creates labels on the chart to indicate buy and sell points based on the direction of the signal.
- Labels are color-coded according to user-defined settings, enhancing visual clarity.
- The indicator also manages the deletion of previous labels and lines to avoid clutter on the chart.
4. Repainting Logic: The script includes a repainting option, allowing it to update signals in real-time as new price data comes in. This can be beneficial for traders who want to see the most current signals but may also lead to misleading signals if not used cautiously.
Conclusion:-
The "buysellsignal-yashgode9" indicator is a versatile tool for traders looking to enhance their decision-making process by identifying key market entry and exit points. By allowing customization of parameters and colors, it caters to individual trading preferences while providing clear visual signals based on price action analysis. This indicator is particularly useful for those who rely on technical analysis in their trading strategies, as it combines automated signal generation with user-friendly visual cues.
Benefits and Applications:
1.Intraday Trading: The "buysellsignal-yashgode9" indicator is particularly well-suited for intraday trading, as it provides accurate and timely buy and sell signals based on the current market dynamics.
2.Trend-following Strategies: Traders who employ trend-following strategies can leverage the indicator's ability to identify the overall market direction, allowing them to align their trades with the dominant trend.
3.Swing Trading: The dynamic price tracking and signal generation capabilities of the indicator can be beneficial for swing traders, who aim to capture medium-term price movements.
Security Measures:
1. The code includes a security notice at the beginning, indicating that it is subject to the Mozilla Public License 2.0, which is a reputable open-source license.
2. The code does not appear to contain any obvious security vulnerabilities or malicious content that could compromise user data or accounts.
NOTE:- This indicator is provided under the Mozilla Public License 2.0 and is subject to its terms and conditions.
Disclaimer: The usage of "buysellsignal-yashgode9" indicator might or might not contribute to your trading capital(money) profits and losses and the author is not responsible for the same.
IMPORTANT NOTICE:
While the indicator aims to provide reliable buy and sell signals, it is crucial to understand that the market can be influenced by unpredictable events, such as natural disasters, political unrest, changes in monetary policies, or economic crises. These unforeseen situations may occasionally lead to false signals generated by the "buysellsignal-yashgode9" indicator.
Users should exercise caution and diligence when relying on the indicator's signals, as the market's behavior can be unpredictable, and external factors may impact the accuracy of the signals. It is recommended to thoroughly backtest the indicator's performance in various market conditions and to use it as one of the many tools in a comprehensive trading strategy, rather than solely relying on its output.
Ultimately, the success of the "buysellsignal-yashgode9" indicator will depend on the user's ability to adapt it to their specific trading style, market conditions, and risk management approach. Continuous monitoring, analysis, and adjustment of the indicator's settings may be necessary to maintain its effectiveness in the ever-evolving financial markets.
Author:- yashgode9
PineScript-version:- 5
This indicator aims to enhance trading decision-making by combining DEPTH, DEVIATION, BACKSTEP with custom signal generation, offering a comprehensive tool for traders seeking clear buy and sell signals on the TradingView platform.
Optimized Heikin Ashi Strategy with Buy/Sell OptionsStrategy Name:
Optimized Heikin Ashi Strategy with Buy/Sell Options
Description:
The Optimized Heikin Ashi Strategy is a trend-following strategy designed to capitalize on market trends by utilizing the smoothness of Heikin Ashi candles. This strategy provides flexible options for trading, allowing users to choose between Buy Only (long-only), Sell Only (short-only), or using both in alternating conditions based on the Heikin Ashi candle signals. The strategy works on any market, but it performs especially well in markets where trends are prevalent, such as cryptocurrency or Forex.
This script offers customizable parameters for the backtest period, Heikin Ashi timeframe, stop loss, and take profit levels, allowing traders to optimize the strategy for their preferred markets or assets.
Key Features:
Trade Type Options:
Buy Only: Enter a long position when a green Heikin Ashi candle appears and exit when a red candle appears.
Sell Only: Enter a short position when a red Heikin Ashi candle appears and exit when a green candle appears.
Stop Loss and Take Profit:
Customizable stop loss and take profit percentages allow for flexible risk management.
The default stop loss is set to 2%, and the default take profit is set to 4%, maintaining a favorable risk/reward ratio.
Heikin Ashi Timeframe:
Traders can select the desired timeframe for Heikin Ashi candle calculation (e.g., 4-hour Heikin Ashi candles for a 1-hour chart).
The strategy smooths out price action and reduces noise, providing clearer signals for entry and exit.
Inputs:
Backtest Start Date / End Date: Specify the period for testing the strategy’s performance.
Heikin Ashi Timeframe: Select the timeframe for Heikin Ashi candle generation. A higher timeframe helps smooth the trend, which is beneficial for trading lower timeframes.
Stop Loss (in %) and Take Profit (in %): Enable or disable stop loss and take profit, and adjust the levels based on market conditions.
Trade Type: Choose between Buy Only or Sell Only based on your market outlook and strategy preference.
Strategy Performance:
In testing with BTC/USD, this strategy performed well in a 4-hour Heikin Ashi timeframe applied on a 1-hour chart over a period from January 1, 2024, to September 12, 2024. The results were as follows:
Initial Capital: 1 USD
Order Size: 100% of equity
Net Profit: +30.74 USD (3,073.52% return)
Percent Profitable: 78.28% of trades were winners.
Profit Factor: 15.825, indicating that the strategy's profitable trades far outweighed its losses.
Max Drawdown: 4.21%, showing low risk exposure relative to the large profit potential.
This strategy is ideal for both beginner and advanced traders who are looking to follow trends and avoid market noise by using Heikin Ashi candles. It is also well-suited for traders who prefer automated risk management through the use of stop loss and take profit levels.
Recommended Use:
Best Markets: This strategy works well on trending markets like cryptocurrency, Forex, or indices.
Timeframes: Works best when applied to lower timeframes (e.g., 1-hour chart) with a higher Heikin Ashi timeframe (e.g., 4-hour candles) to smooth out price action.
Leverage: The strategy performs well with leverage, but users should consider using 2x to 3x leverage to avoid excessive risk and potential liquidation. The strategy's low drawdown allows for moderate leverage use while maintaining risk control.
Customization: Traders can adjust the stop loss and take profit percentages based on their risk appetite and market conditions. A default setting of a 2% stop loss and 4% take profit provides a balanced risk/reward ratio.
Notes:
Risk Management: Traders should enable stop loss and take profit settings to maintain effective risk management and prevent large drawdowns during volatile market conditions.
Optimization: This strategy can be further optimized by adjusting the Heikin Ashi timeframe and risk parameters based on specific market conditions and assets.
Backtesting: The built-in backtesting functionality allows traders to test the strategy across different market conditions and historical data to ensure robustness before applying it to live trading.
How to Apply:
Select your preferred market and chart.
Choose the appropriate Heikin Ashi timeframe based on the chart's timeframe. (e.g., use 4-hour Heikin Ashi candles for 1-hour chart trends).
Adjust stop loss and take profit based on your risk management preference.
Run backtesting to evaluate its performance before applying it in live trading.
This strategy can be further modified and optimized based on personal trading style and market conditions. It’s important to monitor performance regularly and adjust settings as needed to align with market behavior.
Correlation with AveragesThe "Correlation with Averages" indicator is designed to visualize and analyze the correlation between a selected asset's price and a base symbol's price, such as the S&P 500 (SPY). This indicator allows users to evaluate how closely an asset’s price movements align with those of the base symbol over various time periods, providing insights into market trends and potential portfolio adjustments.
Key Features:
Base Symbol and Correlation Period:
Users can specify the base symbol (default is SPY) and the period for correlation measurement (default is 252 trading days, approximating one year).
Correlation Calculation:
The indicator computes the correlation between the asset’s closing price and the base symbol’s closing price for the defined period.
Visualization:
The correlation value is plotted on the chart, with conditional background colors indicating the strength and direction of the correlation:
Red for negative correlation (below -0.5)
Green for positive correlation (above 0.5)
Yellow for neutral correlation (between -0.5 and 0.5)
Average Correlation Over Time:
Average correlations are calculated and displayed for various periods: one week, one month, one year, and five years.
A table on the chart provides dynamic updates of these average values with color-coded backgrounds to indicate correlation strength.
The Role of Correlation in Portfolio Management
Correlation is a crucial concept in portfolio management because it measures the degree to which two securities move in relation to each other. Understanding correlation helps investors construct diversified portfolios that balance risk and return. Here's why correlation is important:
Diversification:
By including assets with low or negative correlation in a portfolio, investors can reduce overall portfolio volatility and risk. For instance, if one asset is negatively correlated with another, when one performs poorly, the other may perform well, thus smoothing the overall returns.
Risk Management:
Correlation analysis helps in identifying the potential impact of one asset’s performance on the entire portfolio. Assets with high correlation can lead to concentrated risk, while those with low correlation offer better risk management.
Performance Analysis:
Correlation measures the degree to which asset returns move together. This can inform strategic decisions, such as whether to adjust positions based on expected market conditions.
Scientific References
Markowitz, H. M. (1952). "Portfolio Selection." Journal of Finance, 7(1), 77-91.
This foundational paper introduced Modern Portfolio Theory, highlighting the importance of diversification and correlation in reducing portfolio risk.
Jorion, P. (2007). Financial Risk Manager Handbook. Wiley.
This handbook provides an in-depth exploration of risk management techniques, including the use of correlation in portfolio management.
Elton, E. J., Gruber, M. J., Brown, S. J., & Goetzmann, W. N. (2014). Modern Portfolio Theory and Investment Analysis. Wiley.
This book elaborates on the concepts of correlation and diversification, offering practical insights into portfolio construction and risk management.
By utilizing the "Correlation with Averages" indicator, traders and portfolio managers can make informed decisions based on the relationship between asset prices and the base symbol, ultimately enhancing their investment strategies.
First 5-Minute ORB Levels with Hour Offset### Indicator Overview: First 5-Minute ORB Levels with Hour Offset
This indicator is designed for traders who want to track the high and low of the first 5-minute candle of a trading session, specifically starting at 9:30 am EST (New York time) by default. The lines representing these levels, known as the "Opening Range Breakout" (ORB) levels, are extended across the trading session until the market close at 4:00 pm EST. The indicator provides the following features:
1. **Real-Time Updates**:
- As the first 5-minute candle of the session forms (from 9:30 am to 9:35 am EST), the indicator dynamically updates the high and low lines.
- After the candle completes, the lines are locked in place and extend horizontally across the chart until market close.
2. **Customizable Hour Offset**:
- Users can adjust the start time of the session by specifying an hour offset. This feature is particularly useful for traders operating in different time zones or those who want to analyze custom session times.
- For example, if you trade in a time zone where the session starts at 8:30 am local time instead of 9:30 am EST, you can set the hour offset to `-1` to adjust the start time accordingly.
3. **Visual Labels**:
- The indicator places labels at the end of the lines, clearly marking the "5m ORB High" and "5m ORB Low" levels. These labels are updated in real-time as the first 5-minute candle forms and are fixed in place once the candle closes.
### How to Adjust the Settings:
1. **Hour Offset**:
- **Description**: The hour offset allows you to shift the start time of the session. The default start time is 9:30 am EST, but you can change this using the hour offset.
- **How to Adjust**:
- Open the indicator settings.
- Locate the "Hour Offset" field.
- Enter a positive or negative integer value to shift the session start time.
- **Example**:
- `0` (default): Start at 9:30 am EST.
- `-1`: Start at 8:30 am EST.
- `+1`: Start at 10:30 am EST.
- The indicator will then track the first 5-minute candle starting at the adjusted time and plot the high and low accordingly.
2. **Line and Label Appearance**:
- The lines representing the ORB levels are green by default, and the labels are also green with white text for clear visibility on the chart. The labels are positioned to the right of the lines to avoid cluttering the chart.
### Use Cases:
- **Opening Range Breakout Strategy**: Traders often use the ORB strategy to identify potential breakout points during the trading day. By marking the high and low of the first 5-minute candle, this indicator helps traders quickly identify key levels where price might break out or reverse.
- **Custom Session Analysis**: If you trade in a different time zone or need to analyze a different session (e.g., pre-market or after-hours), the hour offset feature allows you to adapt the indicator to your needs.
This indicator is particularly valuable for intraday traders who rely on the initial volatility of the trading session to make informed decisions.
Advanced Stochastic ForLoopAdvanced Stochastic ForLoop
OVERVIEW
Advanced Stochastic ForLoop is an improved version of Stochastic it is designed to calculate an array of values 1 or -1 depending if soruce for calculations is above or below basis.
It takes avereage of values over a range of lengths, providing trend signals smothed based on various moving averages in order to get rid of noise.
It offers flexibility with different signal modes and visual customizations.
TYPE OF SIGNALS
-FAST (MA > MA or MA > 0.99)
-SLOW (MA > 0)
-THRESHOLD CROSSING (set by user treshold for both directions)
-FAST THRESHOLD (when theres an change in signal by set margin e.g 0.4 -> 0.2 means bearsih when FT is set to 0.1, when MA is > 0.99 it will signal bullish, when MA < -0.99 it will signal bearish)
Generaly Lime color of line indicates Bullish, Fuchsia indicates Bearish.
This colors are not set in stone so you can change them in settings.
Alerts included when line color is:
-Bullish Trend, line color is lime
-Bearish Trend, line color is fuchsia
Credit
Idea for this script was from one of indicators created by www.tradingview.com
Warning
This indicator can be really noisy depending on the settings, signal mode so it should be used preferably as a part of an strategy not as a stand alone indicator
Remember the lower the timeframe you use the more noise there is.
No single indicator should be used alone when making investment decisions.
Bollinger Bands ForLoopBollinger Bands ForLoop
OVERVIEW
BB ForLoop is an improved version of Bollinger Bands it is designed to calculate an array of values 1 or -1 depending if soruce for calculations is above or below basis.
It takes avereage of values over a range of lengths, providing trend signals smothed based on various moving averages in order to get rid of noise.
It offers flexibility with different signal modes and visual customizations.
TYPE OF SIGNALS
-FAST (MA > MA or MA > 0.99)
-SLOW (MA > 0)
-THRESHOLD CROSSING (when cross above/below treshold set independently for both directions)
-FAST THRESHOLD (when there's change in signal by set margin e.g (0.4 -> 0.2) means bearsih when FT is set to 0.1, when MA is > 0.99 it will signal bullish, when MA < -0.99 it will signal bearish)
Generaly Lime color of line indicates Bullish, Fuchsia indicates Bearish.
This colors are not set in stone so you can change them in settings.
-Bullish Trend, line color is lime
-Bearish Trend, line color is fuchsia
Credit
Idea for this script was from one of indicators created by www.tradingview.com
Warning
Be careful when using this indicator especialy combining DEMA with FT (Fast Treshold).
This indicator can be really noisy depending on the settings, signal mode so it should be used preferably as a part of an strategy not as a stand alone indicator
Remember the lower the timeframe you use the more noise there is.
No single indicator should be used alone when making investment decisions.
