Still experimental. Extending further on the divergence backtest results - in this script we try to project next 2 pivots (including one unconfirmed pivot)
🎲 Previous experiments
1. Divergence-Backtester
2. Divergence-Backtester-V2
🎲 Additions
Hover on projection labels to find more details in tooltips.
🎲 Overall method in a nutshell
https://www.tradingview.com/x/K1Zb4voq/
🎲 Going bit deeper
🎯 Unconfirmed Pivot and its projection - Last pivot of the zigzag is always unconfirmed. Meaning, it can potentially repaint based on further price movements. But, projection of the unconfirmed pivot will not change as it will be based on previous two pivots - both of which are confirmed.
https://www.tradingview.com/x/goXE6w9y/
🎯 Next Pivot Projection - Next pivot is projected based on last two pivots - which include last unconfirmed pivot. Hence, these projections can potentially repaint based on the last pivot repaint.
https://www.tradingview.com/x/oT2xj8ko/
🎯 Historical projections displayed as cloud - Historical projection values are displayed as cloud around pivots.
A cloud above represents area from average lower high range to average higher high range. Cloud color is green if average ratio of pivot high is more than 1. Red Otherwise.
A cloud below represents area from average higher low range to average lower low range. Cloud color is red if average ratio of pivot high is more than 1. Green otherwise
https://www.tradingview.com/x/yELx8uOa/
🎲 Previous experiments
1. Divergence-Backtester
2. Divergence-Backtester-V2
🎲 Additions
- Apart from collecting the stats on number of occurrences of HH, HL, LH, LL - this script also keeps track of average ratio for each levels and average bars.
- Based on these data, we try to calculate the next pivot projections including possible bar and price.
- Cloud covering the candles indicate historical levels of average HH, HL, LH, LL projections.
Hover on projection labels to find more details in tooltips.
🎲 Overall method in a nutshell
https://www.tradingview.com/x/K1Zb4voq/
🎲 Going bit deeper
🎯 Unconfirmed Pivot and its projection - Last pivot of the zigzag is always unconfirmed. Meaning, it can potentially repaint based on further price movements. But, projection of the unconfirmed pivot will not change as it will be based on previous two pivots - both of which are confirmed.
https://www.tradingview.com/x/goXE6w9y/
🎯 Next Pivot Projection - Next pivot is projected based on last two pivots - which include last unconfirmed pivot. Hence, these projections can potentially repaint based on the last pivot repaint.
https://www.tradingview.com/x/oT2xj8ko/
🎯 Historical projections displayed as cloud - Historical projection values are displayed as cloud around pivots.
A cloud above represents area from average lower high range to average higher high range. Cloud color is green if average ratio of pivot high is more than 1. Red Otherwise.
A cloud below represents area from average higher low range to average lower low range. Cloud color is red if average ratio of pivot high is more than 1. Green otherwise
https://www.tradingview.com/x/yELx8uOa/
Notes de version
Small update - cloud fill is based on the historical ratio of HH/LH and LL/HL instead of basing that on the average ratio. Average ratio can be misleading - it would have been nice to get the median instead. But, it is not easy to achieve this. Will keep trying to improve further ;)Notes de version
Fixed a bug highlighted by @zeallotThe stats were adding once per bar. But, only need to add when there is pivot change.
Notes de version
Further corrections.Notes de version
Added option to remove fills representing bullish and bearish sentimentsScript open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Trial - trendoscope.io/trial
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Trial - trendoscope.io/trial
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
Subscribe - trendoscope.io/pricing
Blog - docs.trendoscope.io
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.