Intraday Trend CandlesThe Intraday Trend Candles (ITC) indicator is a Pine Script-based tool designed for traders seeking to visualize market trends effectively. Using a combination of the Look Back Period, a multiplier for true range, and linearly weighted moving averages (LWMA), this indicator calculates dynamic trend limits that adapt to price movements. It identifies key trend shifts by comparing the current price to these dynamic thresholds, resulting in a visually intuitive display of market bias directly on the chart. The indicator is particularly well-suited for intraday trading, as it provides responsive insights tailored to short-term price action.
The ITC plots color-coded candles, highlighting bullish trends in blue and bearish trends in yellow, with gray indicating indecision or trend continuation. This color-coded approach makes it easy to identify reversals and trend dynamics at a glance. Additionally, a trend line is plotted to enhance clarity, signaling whether the price is favoring the upper or lower threshold of the calculated range. With built-in alerts for trend reversals, traders can stay informed about critical market shifts without constantly monitoring the chart. This combination of visual cues and alerts makes the ITC a versatile and powerful tool for traders focusing on momentum and trend-following strategies.
Indicateurs et stratégies
Risk Reward CalculatorThis indicator provides a powerful and flexible tool to calculate and visualize key risk and reward metrics for your trading strategies. By inputting essential parameters like account size, risk tolerance, entry price, and stop loss, you can gain valuable insights into potential profit and loss scenarios.
Key Features:
Risk and Reward Analysis: Accurately calculates risk and reward ratios, helping you assess the potential payoff of each trade.
Position Sizing: Determines optimal position sizes based on your risk tolerance and account size.
Stop-Loss and Take-Profit Levels: Calculates dynamic stop-loss and take-profit levels based on risk-reward ratios.
Selling into Strength: Provides guidance on selling portions of your position at favorable price levels to secure profits and reduce risk.
Customizable Table: A highly customizable table displays all relevant information in a clear and concise format.
Inputs:
Trade Settings: Allows choosing between long, short, or both positions.
Account Size: Sets the total capital available for trading.
Risk Percentage: Defines the percentage of the account risked per trade.
Risk Amount: Calculates the actual risk amount based on account size and risk percentage.
Entry Price: Sets the entry price for the trade.
Actual Units: Defines the actual number of units purchased or sold.
Stop Loss at Actual Price (Exit): Calculates stop loss based on entry price and risk amount.
Parts: Sets the number of parts to split the position for selling into strength.
Selling into Strength: Calculates the quantity per part for selling.
Table Position: Defines the location of the table displaying calculations.
Size: Sets the size of the text in the table.
R Multiple Value: Defines the risk-reward multiple used for calculations.
No. of R Multiples: Sets the number of R multiples to show in the table.
How to Use:
Input Parameters: Enter your account size, risk tolerance, entry price, and other relevant information.
Analyze Metrics: Review the calculated risk, reward, position size, and stop-loss levels.
Make Informed Decisions: Use the insights gained to make informed decisions about your trades.
Benefits:
Improved Risk Management: By understanding your risk exposure, you can make more prudent trading decisions.
Enhanced Profit Potential: By identifying optimal entry and exit points, you can maximize your potential profits.
Increased Trading Confidence: The clear and concise presentation of information empowers you to trade with greater confidence.
Elevate your trading strategy with the Risk Reward Calculator.
Optimal MA FinderIntroduction to the "Optimal MA Finder" Indicator
The "Optimal MA Finder" is a powerful and versatile tool designed to help traders optimize their moving average strategies. This script combines flexibility, precision, and automation to identify the most effective moving average (MA) length for your trading approach. Whether you're aiming to improve your long-only strategy or implement a buy-and-sell methodology, the "Optimal MA Finder" is your go-to solution for enhanced decision-making.
What Does It Do?
The script evaluates a wide range of moving average lengths, from 10 to 500, to determine which one produces the best results based on historical data. By calculating critical metrics such as the total number of trades and the profit factor for each MA length, it identifies the one that maximizes profitability. It supports both simple moving averages (SMA) and exponential moving averages (EMA), allowing you to tailor the analysis to your preferred method.
The logic works by backtesting each MA length against the price data and assessing the performance under two strategies:
Buy & Sell: Includes both long and short trades.
Long Only: Focuses solely on long positions for more conservative strategies.
Once the optimal MA length is identified, the script overlays it on the chart, highlighting periods when the price crosses over or under the optimal MA, helping traders identify potential entry and exit points.
Why Is It Useful?
This indicator stands out for its ability to automate a task that is often labor-intensive and subjective: finding the best MA length. By providing a clear, data-driven answer, it saves traders countless hours of manual testing while significantly enhancing the accuracy of their strategies. For example, instead of guessing whether a 50-period EMA is more effective than a 200-period SMA, the "Optimal MA Finder" will pinpoint the exact length and type of MA that has historically yielded the best results for your chosen strategy.
Key Benefits:
Precision: Identifies the MA length with the highest profit factor for maximum profitability.
Automation: Conducts thorough backtesting without manual effort.
Flexibility: Adapts to your preferred MA type (SMA or EMA) and trading strategy (Buy & Sell or Long Only).
Real-Time Feedback: Provides actionable insights by plotting the optimal MA directly on your chart and highlighting relevant trading periods.
Example of Use: Imagine you're trading a volatile stock and want to optimize your long-only strategy. By applying the "Optimal MA Finder," you discover that a 120-period EMA results in the highest profit factor. The indicator plots this EMA on your chart, showing you when to consider entering or exiting positions based on price movements relative to the EMA.
In short, the "Optimal MA Finder" empowers traders by delivering data-driven insights and improving the effectiveness of trading strategies. Its clear logic, combined with robust automation, makes it an invaluable tool for both novice and experienced traders seeking consistent results.
Max/Min LevelsHighlights highs and lows that match the search criteria. A high is considered to be broken if the candlestick breaks through its shadow
A three-candlestick pattern will match the parameters:
Candle before - 1
Candle after - 1
A five-candlestick pattern will match the parameters:
Candle before - 2
Candle after - 2
Bar Replay Fix - Smooth Candle Transition for TradingViewThe Bar Replay Fix indicator addresses a known issue in TradingView’s Bar Replay mode, where the last completed candle is incorrectly drawn when switching from a lower timeframe to a higher one. This issue can create confusion during analysis, especially when replaying historical price action.
Key Features:
Accurate Candle Rendering: Ensures that candles are displayed correctly in Bar Replay mode by referencing and plotting the previous candle data.
Customizable Appearance: Configure the candle body, wick, and border colors for bullish, bearish, and doji candles to match your chart theme.
Seamless Integration: Works invisibly in the background to provide a smoother and more reliable replay experience.
Use Cases:
Enhance your backtesting accuracy by eliminating incorrect candle rendering during Bar Replay.
Maintain consistency in candle visualization when transitioning between timeframes in Replay mode.
Disclaimer: This indicator is specifically designed to resolve a visual issue in Bar Replay mode and does not provide any trading signals or analysis recommendations.
Hidden SMT Divergence ICT 01 [TradingFinder] HSMT SMC Technique🔵 Introduction
Hidden SMT Divergence, an advanced concept within the Smart Money Technique (SMT), identifies discrepancies between correlated assets by focusing on their closing prices.
Unlike the standard SMT Divergence, which uses high and low prices for analysis, Hidden SMT Divergence uncovers subtle signals by examining divergences based on the assets' closing values.
These divergences often highlight potential reversals or trend continuations, making this technique a valuable tool for traders aiming to anticipate market movements.
This approach applies across various markets and asset classes, including :
Commodities : CAPITALCOM:GOLD vs. CAPITALCOM:SILVER or BLACKBULL:BRENT vs. BLACKBULL:WTI .
Indices : NASDAQ:NDX vs. TVC:SPX vs. FX:US30 .
FOREX : FX:EURUSD vs. OANDA:GBPUSD vs. TVC:DXY (US Dollar Index).
Cryptocurrencies : BITSTAMP:BTCUSD vs. COINBASE:ETHUSD vs. KUCOIN:SOLUSDT vs. CRYPTOCAP:TOTAL3 .
Volatility Measures : FOREXCOM:XAUUSD vs. TVC:VIX (Volatility Index).
By identifying divergences within these asset groups, traders can gain actionable insights into potential market reversals or shifts in trend direction. Hidden SMT Divergence is particularly effective for pinpointing subtle market signals that traditional methods may overlook.
Bullish Hidden SMT Divergence : This divergence emerges when one asset forms a higher low, while the correlated asset creates a lower low in terms of their closing prices. It often signals weakening downward momentum and a potential reversal to the upside.
Bearish Hidden SMT Divergence : This occurs when one asset establishes a higher high, while the correlated asset forms a lower high based on their closing prices. It typically reflects declining upward momentum and a probable shift to the downside.
🔵 How to Use
The Hidden SMT Divergence indicator provides traders with a systematic approach to identify market reversals or trend continuations through divergences in closing prices between two correlated assets.
🟣 Bullish Hidden SMT Divergence
Bullish Hidden SMT Divergence occurs when the closing price of the primary asset forms a higher low, while the correlated asset creates a lower low. This pattern indicates weakening downward momentum and signals a potential reversal to the upside.
After identifying the divergence, confirm it using additional tools like support levels, volume trends, or indicators such as RSI and MACD. Enter a buy position as the price shows signs of reversal near support zones, ensuring proper risk management by placing a stop-loss below the support level.
Bearish Hidden SMT Divergence
Bearish Hidden SMT Divergence is identified when the closing price of the primary asset forms a higher high, while the correlated asset creates a lower high. This divergence suggests a weakening uptrend and a likely reversal to the downside.
Validate the signal by examining resistance levels, declining volume, or complementary indicators. Consider entering a sell position as the price starts declining from resistance levels, and set a stop-loss above the resistance zone to limit potential losses.
🔵 Setting
Second Symbol : Select the secondary asset to compare with the primary asset. By default, "XAUUSD" (Gold) is used, but it can be customized to any stock, cryptocurrency, or currency pair.
Divergence Fractal Periods : Defines the number of past candles considered for identifying divergences. The default value is 2, but traders can adjust it for greater precision.
Bullish Divergence Line : Displays a dashed line connecting the points of bullish divergence.
Bearish Divergence Line : Shows a similar line for bearish divergence points.
Bullish Divergence Label : Marks areas of bullish divergence with a "+SMT" label.
Bearish Divergence Label : Highlights bearish divergences with a "-SMT" label.
Chart Type : Choose between Line or Candle charts for enhanced visualization.
🔵 Conclusion
Hidden SMT Divergence offers traders a refined method for identifying market reversals by analyzing closing price discrepancies between correlated assets. Its ability to uncover subtle divergences makes it an essential tool for traders who aim to stay ahead of market trends.
By integrating this technique with other technical analysis tools and sound risk management, traders can enhance their decision-making process and capitalize on market opportunities with greater confidence.
Hidden SMT Divergence’s focus on closing prices ensures more precise signals, helping traders refine their strategies across various markets, including Forex, commodities, indices, and cryptocurrencies.
Its open-source nature allows for customization and verification, providing transparency and flexibility to suit diverse trading needs. Hidden SMT Divergence stands as a powerful addition to the arsenal of any trader seeking to unlock hidden opportunities in dynamic financial markets.
Multi-Period CorrelationDescription:
The “Correlation Coefficient - Multi Periods” indicator allows you to analyze the correlation between the price of the chart’s asset and another specified asset across multiple time periods simultaneously. It provides a visual representation of how closely the two assets move in relation to each other over user-defined lengths, helping traders and analysts identify relationships, diversification opportunities, and potential hedging strategies.
Features:
• Multi-Period Correlation: Input multiple periods (e.g., 20, 50, 100) to see correlations across different timeframes on the same chart.
• Customizable Asset: Choose any symbol to compare against the current asset.
• Dynamic Visualization: Each correlation is plotted with a unique color for easy distinction.
• Validation: Warns the user if invalid inputs are provided for the lengths, ensuring accuracy.
• Reference Lines: Horizontal lines at 1, 0, and -1 for quick interpretation:
• 1: Perfect positive correlation.
• 0: No correlation.
• -1: Perfect negative correlation.
Use Cases:
• Portfolio Analysis: Evaluate how an asset correlates with another to assess diversification.
• Market Analysis: Identify trends and relationships between stocks, indices, or other financial instruments.
• Risk Management: Understand correlation to optimize hedging strategies and reduce portfolio risk.
This indicator is ideal for traders and investors seeking to make informed decisions by understanding inter-market relationships and their dynamics over time.
[blackcat] L1 Abnormal Volume Monitor█ OVERVIEW
The script is an indicator designed to monitor abnormal volume patterns in the market. It calculates and plots moving average volumes, identifies triple volume bars, and detects potential large order entries based on specific conditions.
█ FEATURES
• Input Parameters: The script defines parameters M1, M2, and lbk which control the calculation of moving averages and the lookback period for detecting abnormal volume.
• Calculations: The script calculates two moving averages of volume (MAVOL1 and MAVOL2), a smoothed price level (mm), and identifies conditions for triple volume bars and large order entries.
• Plotting: The script plots volume histograms for up and down bars, moving average volumes, and highlights triple volume bars with and without large order entries.
• Conditional Statements: The script uses conditional statements to determine when to plot certain data points and labels based on the calculated conditions.
█ LOGICAL FRAMEWORK
• xfl(cond, lbk): This function checks if a condition (cond) has been true within a specified lookback period (lbk). It returns true if the condition has been met and false otherwise.
• Parameters: cond (condition to check), lbk (lookback period).
• Return Value: outb (boolean indicating if the condition was met within the lookback period).
• abnormal_vol_monitor(close, open, high, low, volume, M1, M2, lbk): This function calculates moving average volumes, identifies triple volume bars, and detects large order entries.
• Parameters: close, open, high, low, volume (price and volume data), M1, M2 (periods for moving averages), lbk (lookback period).
• Return Value: A tuple containing MAVOL1, MAVOL2, xa (large order entry condition), and tripleVolume (triple volume condition).
█ KEY POINTS AND TECHNIQUES
• Moving Averages: The script uses simple moving averages (sma) and exponential moving averages (ema) to smooth volume data.
• Volume Analysis: The script identifies triple volume bars and large order entries based on specific conditions, such as volume doubling and price increases.
• Lookback Period: The xfl function uses a lookback period to ensure the accuracy of the detected conditions.
• Plotting Techniques: The script uses different plot styles and colors to distinguish between up bars, down bars, moving averages, and abnormal volume patterns.
█ EXTENDED KNOWLEDGE AND APPLICATIONS
• Modifications: The script could be modified to include additional conditions for detecting other types of abnormal volume patterns or to adjust the sensitivity of the detection.
• Extensions: Similar techniques could be applied to other financial instruments or timeframes to identify unusual trading activity.
• Related Concepts: The script utilizes concepts such as moving averages, exponential moving averages, and conditional plotting, which are fundamental in Pine Script and technical analysis.
Volume-Weighted Delta Strategy[Kopottaja]Volume-Weighted Delta Strategy
The Volume-Weighted Delta Strategy combines price movement and trading volume to identify potential bullish and bearish market conditions. The strategy calculates a delta value that measures the difference between the close and open prices, weighted by volume over a specified period. This delta is compared against its moving average (SMA) to determine potential trend changes. Key features include:
Volume-Weighted Delta Calculation:
The delta is calculated by summing up the volume-weighted differences between close and open prices over the defined length (Delta Length).
Trend Identification:
If the delta value crosses above its SMA, the strategy interprets this as a bullish condition.
If the delta value crosses below its SMA, the strategy interprets this as a bearish condition.
EMA Integration:
A 20-period EMA is included as an additional trend indicator. The EMA line changes color based on whether the delta value is above or below its SMA:
Green: Bullish (delta > SMA)
Red: Bearish (delta < SMA)
Volume Filter:
A volume threshold can be applied to ensure trades are only executed when significant volume is present, helping to avoid false signals in low-volume conditions.
Entry Conditions:
Buy: When the delta crosses below its SMA (bearish signal).
Sell: When the delta crosses above its SMA (bullish signal).
Customizable Inputs:
Length for delta calculation (Delta Length)
Length for moving average (MA Length)
Volume threshold for trade activation
Optimal Timeframes:
This strategy works best on the 4-hour and 1-day timeframes, where volume and price trends are more stable, reducing noise from smaller timeframes.
How It Works:
This strategy is ideal for traders leveraging the relationship between price movement, volume, and trend indicators. Focusing on volume-weighted price action aims to provide a clearer picture of market sentiment, improving the accuracy of entry and exit signals.
[blackcat] L1 Institutional Golden Bottom Indicator█ OVERVIEW
The script " L1 Institutional Golden Bottom Indicator" is an indicator designed to identify potential institutional buying interest or a "golden bottom" in the market. It calculates a series of values based on price movements and plots them on a chart to help traders make informed decisions.
█ LOGICAL FRAMEWORK
The script is structured into several main sections:
1 — Function Definitions: Custom functions xsa and calculate_institutional_golden_bottom are defined.
2 — Input Parameters: The user can set a threshold value for institutional interest.
3 — Calculations: The script calculates various indicators and conditions, including the institutional buy signal.
4 — Plotting: The results of the calculations are plotted on the chart.
5 — Labeling: When a golden bottom is detected, a label is placed on the chart.
The flow of data starts with the input parameters, proceeds through the calculation functions, and finally results in plotted outputs and labels.
█ CUSTOM FUNCTIONS
1 — xsa(src, len, wei)
• Purpose: To calculate a weighted moving average.
• Parameters:
– src: Source data (e.g., price).
– len: Length of the moving average.
– wei: Weighting factor.
• Return Value: The calculated weighted moving average.
2 — calculate_institutional_golden_bottom(close, high, low, threshold)
• Purpose: To determine the institutional golden bottom indicator.
• Parameters:
– close: Closing price.
– high: Highest price.
– low: Lowest price.
– threshold: User-defined threshold for institutional interest. By tuning the threshold value the user can properly identify the institutional golden bottom of the instrument. So, I can say this parameter is used to tune the "sensitivity" of this indicator.
• Return Value: An array containing the institutional indicator, golden bottom signal, and additional values (a1, b1, c1, d1).
█ KEY POINTS AND TECHNIQUES
• Weighted Moving Average (WMA): The xsa function implements a weighted moving average, which is useful for smoothing price data.
• Crossover Detection: The script uses a crossover condition to detect when the institutional indicator crosses above the threshold, indicating a potential buying opportunity.
• Conditional Logic: The script includes conditional statements to control the output of certain values only when specific conditions are met.
• Plotting and Labeling: The script uses plot and label.new functions to visualize the indicator and highlight significant events on the chart.
█ EXTENDED KNOWLEDGE AND APPLICATIONS
• Modifications: The script could be enhanced by adding more customizable parameters, such as different lengths for the moving averages or additional conditions for the golden bottom signal.
• Extensions: Similar techniques could be applied to other types of indicators, such as momentum oscillators or trend-following systems to identify market turning points.
• Related Concepts: Understanding weighted moving averages, crossover signals, and conditional plotting in Pine Script would be beneficial for enhancing this script and applying similar logic to other trading strategies.
MA Multi-Timeframe [ChartPrime]The MA Multi-Timeframe indicator is designed to provide multi-timeframe moving averages (MAs) for better trend analysis across different periods. This tool allows traders to monitor up to four different MAs on a single chart, each coming from a selectable timeframe and type (SMA, EMA, SMMA, WMA, VWMA). The indicator helps traders gauge both short-term and long-term price trends, allowing for a clearer understanding of market dynamics.
⯁ KEY FEATURES AND HOW TO USE
⯌ Multi-Timeframe Moving Averages :
The indicator allows traders to select up to four MAs, each from different timeframes. These timeframes can be set in the input settings (e.g., Daily, Weekly, Monthly), and each moving average can be displayed with its corresponding timeframe label directly on the chart.
Example of different timeframes for MAs:
⯌ Moving Average Types :
Users can choose from several types of moving averages, including SMA, EMA, SMMA, WMA, and VWMA, making the indicator adaptable to different strategies and market conditions. This flexibility allows traders to tailor the MAs to their preference.
Example of different types of MAs:
⯌ Dashboard Display :
The indicator includes a built-in dashboard that shows each MA, its timeframe, and whether the price is currently above or below that MA. This dashboard provides a quick overview of the trend across different timeframes, allowing traders to determine whether the overall trend is up or down.
Example of trend overview via the dashboard:
⯌ Polyline Representation :
Each MA is plotted using polylines to avoid plot functions and create a curves across up to 4000 bars back, ensuring that historical data is visualized clearly for a deeper analysis of how the price interacts with these levels over time.
if barstate.islast
for i = 0 to 4000
cp.push(chart.point.from_index(bar_index , ma ))
polyline.delete(polyline.new(cp, curved = false, line_color = color, line_style = style) )
Example of polylines for moving averages:
⯌ Customization Options :
Traders can customize the length of the MAs for all timeframes using a single input. The color, style (solid, dashed, dotted) of each moving average are also customizable, giving users full control over the visual appearance of the indicator on their chart.
Example of custom MA styles:
⯁ USER INPUTS
MA Type : Select the type of moving average for each timeframe (SMA, EMA, SMMA, WMA, VWMA).
Timeframe : Choose the timeframe for each moving average (e.g., Daily, Weekly, Monthly).
MA Length : Set the length for the moving averages, which will be applied to all four MAs.
Line Style : Customize the style of each MA line (solid, dashed, or dotted).
Colors : Set the color for each MA for better visual distinction.
⯁ CONCLUSION
The MA Multi-Timeframe indicator is a versatile and powerful tool for traders looking to monitor price trends across multiple timeframes with different types of moving averages. The dashboard simplifies trend identification, while the customizable options make it easy to adapt to individual trading strategies. Whether you're analyzing short-term price movements or long-term trends, this indicator offers a comprehensive solution for tracking market direction.
Advanced MA and MACD PercentageIntroduction
The "Advanced MA and MACD Percentage" indicator is a powerful and innovative tool designed to help traders analyze financial markets with ease and precision. This indicator combines Moving Averages (MA) with the MACD indicator to assess the market’s overall trend and calculate the percentage of buy and sell signals based on current data.
Features
Multi-Timeframe Analysis:
Allows selecting your preferred timeframe for trend analysis, such as minute, hourly, daily, or weekly charts.
Support for Multiple Moving Average Types:
Offers the option to use either Simple Moving Average (SMA) or Exponential Moving Average (EMA), based on user preference.
Comprehensive MACD Analysis:
Analyzes the relationship between multiple moving averages (e.g., 20/50, 50/100) using MACD to provide deeper insights into market dynamics.
Calculation of Buy and Sell Percentages:
Computes the percentage of indicators signaling buy or sell conditions, providing a clear summary to assist trading decisions.
Intuitive Visual Interface:
Displays buy and sell percentages as two visible lines (green and red) on the chart.
Includes reference lines to clarify the range of percentages (100% to 0%).
How It Works
Moving Averages Calculation:
Calculates moving averages (20, 50, 100, 150, and 200) for the selected timeframe.
MACD Pair Analysis:
Computes the MACD to compare the performance between various moving average pairs, such as (20/50) and (50/100).
Identifying Buy and Sell Signals:
Counts the number of indicators signaling buy (price above MAs or positive MACD histogram).
Converts the count into percentages for both buy and sell signals.
Visual Representation:
Plots buy and sell percentages as clear lines (green for buy, red for sell).
Adds reference lines (100% and 0%) for easier interpretation.
How to Use the Indicator?
Settings:
Choose the type of moving average (SMA or EMA).
Select the timeframe that suits your strategy (e.g., 15 minutes, 1 hour, or daily).
Reading the Results:
If the buy percentage (green line) is above 50%, the overall trend is bullish (buy).
If the sell percentage (red line) is above 50%, the overall trend is bearish (sell).
Integrating Into Your Strategy:
Combine it with other indicators to confirm entry and exit signals.
Use it to quickly understand the market’s overall trend without needing complex manual analysis.
Benefits of the Indicator
Simplified Analysis: Provides a straightforward summary of the market's overall trend.
Adaptable to All Timeframes: Works perfectly on all timeframes.
Customizable: Allows users to adjust settings according to their needs.
Important Notes
This indicator does not provide direct buy or sell signals. Instead, it offers a summary of the market’s condition based on a combination of indicators.
It is recommended to use it alongside other technical analysis tools for precise trading signals.
Conclusion
The "Advanced MA and MACD Percentage" indicator is an ideal tool for traders who want to analyze the market using a combination of Moving Averages and MACD. It gives you a comprehensive overview of the overall trend, helping you make informed and quick trading decisions. Try it now and see the difference!
Alternative Price [OmegaTools]The Alternative Price script is a sophisticated and flexible indicator designed to redefine how traders visualize and interpret price data. By offering multiple unique charting modes, robust customization options, and advanced features, this tool provides a comprehensive alternative to traditional price charts. It is particularly useful for identifying market trends, detecting patterns, and simplifying complex data into actionable insights.
This script is highly versatile, allowing users to choose from five distinct charting modes: Candles, Line, Channel, Renko, and Bubbles. Each mode serves a unique purpose and presents price information in an innovative way. When using this script, it is strongly recommended to hide the platform’s default price candles or chart data. Doing so will eliminate redundancy and provide a clearer and more focused view of the alternative price visualization.
The Candles mode offers a traditional candlestick charting style but with added flexibility. Users can choose to enable smoothed opens or smoothed closes, which adjust the way the open and close prices are calculated. When smoothed opens are enabled, the opening price is computed as the average of the actual open price and the closing prices of the previous two bars. This creates a more gradual representation of price transitions, particularly useful in markets prone to sudden spikes or irregularities. Similarly, smoothed closes modify the closing price by averaging it with the previous close, the high-low midpoint, and an exponential moving average of the high-low-close mean. This technique filters out noise, making trends and price momentum easier to identify.
In the Line mode, the script displays a simple line chart that connects the smoothed closing prices. This mode is ideal for traders who prefer minimalism or need to focus on the overall trend without the distraction of individual bar details. The Channel mode builds upon this by plotting additional lines representing the highs and lows of each bar. The resulting visualization resembles a price corridor that helps identify support and resistance zones or price compression areas.
The Renko mode introduces a more advanced and noise-filtering method of visualizing price movements. Renko charts, constructed using the ATR (Average True Range) as a baseline, display blocks that represent a specific price range. The script dynamically calculates the size of these blocks based on ATR, with separate thresholds for upward and downward movements. This makes Renko mode particularly effective for identifying sustained trends while ignoring minor price fluctuations. Additionally, the open and close values of Renko blocks can be smoothed to further refine the visualization.
The Bubbles mode represents price activity using circles or bubbles whose size corresponds to relative volume. This mode provides a quick and intuitive way to assess market participation at different price levels. Larger bubbles indicate higher trading volumes, while smaller bubbles highlight periods of lower activity. This visualization is particularly valuable in understanding the relationship between price movements and market liquidity.
The coloring of candles and other chart elements is a core feature of this script. Users can select between two color modes: Normal and Volume. In Normal mode, bullish candles are displayed in the user-defined bullish color, while bearish candles use the bearish color. Neutral elements, such as midpoints or undecided price movements, are shaded with a neutral color. In Volume mode, the candle colors are dynamically adjusted based on trading volume. A gradient color scale is applied, where the intensity of the bullish or bearish colors reflects the volume for that particular bar. This feature allows traders to visually identify periods of heightened activity and associate them with specific price movements.
Engulfing patterns, a popular technical analysis tool, are automatically detected and marked on the chart when the corresponding setting is enabled. The script identifies long engulfing patterns, where the current bar's range completely encompasses the previous bar’s range and indicates a potential bullish reversal. Similarly, short engulfing patterns are identified where the current bar fully engulfs the previous bar in the opposite direction, suggesting a bearish reversal. These patterns are visually highlighted with circular markers to draw the trader’s attention.
Each feature and mode is highly customizable. The colors for bullish, bearish, and neutral movements can be personalized, and the thresholds for patterns or smoothing can be fine-tuned to match specific trading strategies. The script's ability to toggle between various modes makes it adaptable to different market conditions and analysis preferences.
In summary, the Alternative Price script is a comprehensive tool that redefines the way traders view price charts. By offering multiple visualization modes, customizable features, and advanced detection algorithms, it provides a powerful way to uncover market trends, volume relationships, and significant patterns. The recommendation to hide default chart elements ensures that the focus remains on this innovative tool, enhancing its usability and clarity. This script empowers traders to gain deeper insights into market behavior and make informed trading decisions, all while maintaining a clean and visually appealing chart layout.
Keep in mind that some of the modes of this indicator might not reflect the actual closing price of the underlying asset, before opening a trade, check carefully the actual price!
Horns Pattern Identifier with alertsUpdated version of LuxAlgo indicator to add the ability to change the displayed line widths and to raise alerts when the pattern is detected.
The original indicator and it's history are at
Their description:
The following script detects regular and inverted horn patterns. Detected patterns are displayed alongside their respective confirmation and take profit levels derived from the pattern measure rule. Breakout of the confirmation levels are highlighted with labels.
DonAlt - Smart Money Toolkit [BigBeluga]DonAlt - Smart Money Toolkit is inspired by the analytical insights of popular crypto influencer DonAlt.
This advanced toolkit integrates smart money concepts with key technical analysis elements to enhance your trading decisions.
🔵 KEY FEATURES:
SUPPORT AND RESISTANCE LEVELS Automatically identifies critical market turning points with significant volume. Levels turn green when the price is above them and red when below, providing a visual cue for key market thresholds.
ORDER BLOCKS: Highlights significant price zones preceding major price movements.
- If the move is down , it searches for the last bullish candle and plots a block from its body.
- If the move is up , it searches for the last bearish candle and creates a block from its body.
These blocks help identify areas of institutional interest and potential reversals.
TRENDLINES: Automatically plots trendlines to identify breakout zones or price accumulation areas.
• Bullish trendlines accumulation form when the current low is higher than the previous low.
• Bearish trendlines accumulation emerge when the current high is lower than the previous high.
• Bullish trendlines Breakout form when the price break above it.
• Bearish trendlines Breakout form when the price break below it.
Volatility Integration: The levels incorporate normalized volatility to ensure only significant zones are highlighted, filtering noise and emphasizing meaningful data.
🔵 WHEN TO USE:
This toolkit is ideal for traders seeking to align with "smart money" strategies by identifying key areas of institutional activity, strong support and resistance zones, and potential breakout setups.
🔵 CUSTOMIZATION:
Toggle the visibility of levels, order blocks, or trendlines to match your trading style and focus.
Colors of the Bull and Bear key features
Extend trendline
Normalised ATR - Configurable Session Volatility AnalysisThis indicator analyzes price volatility across different trading sessions throughout the day. Here are its key features:
1. **Configurable Time Periods**
- Users can set specific date ranges for analysis
- Supports up to 12 customizable trading sessions
- Adjustable session durations (1-8 hours each)
2. **Volatility Measurements**
- Offers two calculation methods:
* Normalized Range: (High-Low)/Midpoint Price × 100 (as percentage)
* Absolute Range: Simple High-Low difference
- Tracks key statistics for each session:
* Maximum range
* Minimum range
* Average range
* 25% quartile range
3. **Statistical Analysis**
- Calculates 5th and 95th percentiles across all sessions
- Provides visual reference lines for these percentiles
- Shows detailed statistics in a color-coded table
4. **Visual Display**
- Clear tabular display of session statistics
- Color-coded for easy reading
- Plot of daily ranges with percentile bounds
- Session times displayed in UTC
This tool is particularly useful for:
- Understanding market volatility patterns across different trading sessions
- Identifying optimal trading hours
- Planning trading strategies based on historical volatility patterns
- Comparing volatility across different market periods
[blackcat] L4 Dynamic Trend Analysis█ OVERVIEW
The script implements a dynamic trend analysis indicator named L4 Dynamic Trend Analysis (L4 DTA). It uses a combination of Exponential Moving Averages (EMA), Relative Strength Index (RSI), and custom functions to determine the trend direction and strength. The primary function is to visually represent the trend conditions and potential entry points on the chart.
█ FEATURES
• Initializes a gradient color array and populates it with a spectrum of colors. This gradient is used for coloring the power trend line based on the RSI value.
• Calculates the Average Linear Moving Average (ALMA) of the closing price.
• Computes the RSI of the ALMA value.
• Retrieves a color from the gradient array based on the RSI value.
• Defines a custom function dynamic_trend_analysis that calculates various trend indicators.
• Utilizes the plot function to display different trend conditions and signals on the chart.
• Adds labels to indicate short ('S') and long ('B') signals based on the trend conditions.
█ HOW TO USE
The script begins by defining the gradient color array.
It then calculates the ALMA and RSI values.
The dynamic_trend_analysis function is called, which computes several trend indicators.
Based on these indicators, the script plots different signals and trend lines on the chart.
Labels are added to indicate short and long signals when specific conditions are met.
█ CUSTOM FUNCTIONS
1 — xrf(values, length)
• Purpose: Retrieves the most recent non-NaN value from an array within a specified length.
• Parameters: values (array of float values), length (integer).
• Return Value: The most recent non-NaN value from the array within the specified length.
2 — xbs(cond, lkb)
• Purpose: Checks a condition over a specified lookback period and returns a boolean value.
• Parameters: cond (boolean condition), lkb (lookback period).
• Return Value: Boolean value indicating whether the condition was met over the lookback period.
3 — dynamic_trend_analysis(high, low, close)
• Purpose: Computes several trend indicators including short-side and long-side prices, crossovers, trend strength, and power trend.
• Parameters: high, low, close (price series).
• Return Value: An array containing trend strength (cc), moving average (ma1), trend (trend), and power trend (power_trend).
█ NOTES
• Gradient Color Array: The script uses a gradient color array to dynamically color the power trend line based on the RSI value, providing a visual indication of momentum.
• Custom Functions: The use of custom functions (xrf, xbs, dynamic_trend_analysis) encapsulates complex logic, making the script modular and easier to maintain.
• Trend Analysis: The script combines multiple indicators (EMA, RSI) to create a comprehensive trend analysis, providing multiple signals for trading decisions.
• Efficient Plotting: The script uses conditional plotting to display signals only when specific conditions are met, reducing clutter on the chart.
• Modifications: The script can be modified to include additional indicators or adjust the parameters of existing ones to better suit different trading styles or market conditions.
• Extensions: The dynamic trend analysis function can be extended to include more sophisticated trend following or reversal strategies.
• Alternative Uses: Similar techniques can be applied to other types of technical analysis, such as volatility analysis or momentum strategies.
• Related Concepts: Understanding of Pine Script functions like array.push, ta.ema, ta.rsi, and plot is beneficial for enhancing and customizing the script. Additionally, knowledge of conditional plotting and label creation can help in refining the visual output.
Period Separator & Candle OHLCThis script combines two powerful tools for traders: period separators and custom timeframe-based OHLC (Open, High, Low, Close) data visualization. Here's what it does:
Period Separators:
The script draws vertical lines to indicate the start of new time periods based on a user-defined timeframe (e.g., hourly, daily, weekly).
Users can customize the separator color, line style (solid, dashed, dotted), and width to suit their preferences.
Fetches OHLC data from a higher or custom timeframe (e.g., 4 hours) and overlays it on the current chart.
Users can choose to display the open, high, low, and close prices as dots or circles for easy visualization.
Optionally, the open and close dots can be visually connected with a filled bar for a candlestick-like effect.
The script color-codes the close price relative to the open (green if higher, red if lower) to highlight price direction at a glance.
Fully Customizable:
Users have full control over which OHLC values to display and whether the dots should be filled.
Transparency settings for plotted dots and fills are also adjustable for optimal visibility on different chart styles.
How It Is Useful for Trading:
Timeframe Analysis:
The period separators make it easy to distinguish trading activity across custom time intervals. This is crucial for intraday, swing, and long-term traders who analyze price movements within specific periods.
Multi-Timeframe Insights:
By overlaying OHLC data from a higher timeframe on a lower timeframe chart, traders can identify key support and resistance levels, pivots, and trends that are not immediately visible on the current timeframe.
Trend Recognition:
The color-coded close dots (green for bullish, red for bearish) provide an instant visual cue of market sentiment, helping traders confirm or refute their bias.
Whether you're a scalper, day trader, or position trader, the flexibility in timeframe selection, styling, and data presentation ensures this tool can adapt to your trading strategy.
[blackcat] L2 Guppy Swing Trader for Stocks 1D█ OVERVIEW
The script is an indicator designed for use on daily charts (1D) to identify swing trading opportunities in stocks. It calculates a series of exponential moving averages (EMAs) based on a custom "winner ratio" and plots these moving averages to help traders identify potential crossovers and swing points.
█ LOGICAL FRAMEWORK
The script is structured into several main sections:
1 — Custom Functions: Defines functions for calculating the exponential moving average (EMA) and the "winner ratio."
2 — Main Calculation Function: calculate_and_plot_guppy_trader which computes the EMA series based on the winner ratio.
3 — Input Parameters: Allows users to select the price type and period for the calculations.
4 — Data Mapping: Maps the selected price type to the corresponding price series.
5 — Execution and Plotting: Calls the main calculation function, plots the resulting EMAs, and adds labels for crossover signals.
The logical flow starts with the user-defined inputs, then the price type is mapped to the appropriate price series. The custom functions are used to compute the necessary intermediate values, and the main calculation function generates the EMA series. Finally, the EMA series are plotted, and crossover signals are labeled.
█ CUSTOM FUNCTIONS
1 — xda(src, coeff): Calculates an exponential moving average (EMA) for a given source (src) and smoothing coefficient (coeff). It uses a recursive formula to compute the EMA.
2 — winner(price, res): Computes a "winner ratio" based on the price and a specified resolution (res). It fetches historical price data, calculates a win ratio based on price comparisons, and applies an EMA to the win ratio using the historical share outstanding and volume data.
█ KEY POINTS AND TECHNIQUES
• Exponential Moving Averages (EMA): The script uses multiple EMAs to smooth the "winner ratio" and identify trends.
• Winner Ratio Calculation: The "winner ratio" is a custom metric that adjusts based on historical price data and trading volume, providing a unique insight into price momentum.
• Security Function: Utilizes the security function to fetch historical data at different resolutions, which is crucial for calculating the winner ratio.
• Labeling Crossovers: The script uses label.new to visually indicate when the moving averages cross each other, aiding in identifying potential trade signals.
█ EXTENDED KNOWLEDGE AND APPLICATIONS
• Modifications: The script could be modified to include additional EMAs or adjust the winner ratio calculation to incorporate more factors such as volatility or RSI.
• NOTE: Similar techniques could NOT be applied to other timeframes or asset classes, such as forex or cryptocurrencies because they lack of financial data required in this indicator, by adjusting the input parameters and possibly the resolution used in the security function.
• Related Concepts: Understanding the security function in Pine Script is crucial for fetching historical data at different resolutions. Additionally, knowledge of EMA calculations and custom function design in Pine Script would be beneficial for enhancing this script.
OBV + Custom MA StrategyFor a long time, the use of the OBV indicator has been relatively monotonous, with its expression and content lacking diversity. Therefore, I'm considering trying new ways of representation.
This "OBV + Custom MA Strategy" indicator combines the On-Balance Volume (OBV) with customizable moving averages (SMA, EMA, or WMA) to provide advanced insights into market trends. The indicator calculates OBV manually and overlays two moving averages: a short-term and a long-term MA. Key features include:
OBV plotted alongside short-term and long-term moving averages for better trend visualization.
Signals generated when OBV crosses the short-term MA or when the short-term MA crosses the long-term MA.
Alerts for bullish and bearish crossovers to help identify potential buy or sell opportunities.
This indicator is suitable for traders looking to incorporate volume dynamics into their strategy while customizing their moving average type and periods.
中文说明
此“OBV + 自定义均线策略”指标结合了成交量指标OBV与可定制的移动均线（SMA、EMA或WMA），为市场趋势分析提供了更多的视角。该指标手动计算OBV，并叠加短期与长期均线，主要特点包括：
绘制OBV以及短期和长期均线，以更清晰地观察趋势。
当OBV上穿/下穿短期均线或短期均线上穿/下穿长期均线时，生成买卖信号。
提供多种看涨和看跌信号的警报，帮助识别潜在的买入或卖出机会。
此指标适合希望将成交量动态纳入策略的交易者，并支持自定义均线类型和周期以满足个性化需求。
PC - HantuGalahThe PC - Hantu Galah indicator is a powerful tool designed for traders seeking to identify significant market momentum and volatility shifts. This indicator features a histogram graph that dynamically adapts to candle size and historical comparisons to highlight critical trading opportunities.
Key Features:
Histogram Visualization: The indicator plots a visually intuitive histogram graph to simplify analysis of candle size dynamics.
Dynamic Color Coding: The histogram turns blue when the current candle size exceeds 22 points and is also larger than the candle size from 20 periods back.
Momentum Detection: This feature makes it easier for traders to spot moments of heightened market activity, potentially signaling strong momentum or breakout scenarios.
This indicator is ideal for traders looking for a straightforward yet effective way to identify periods of high volatility and capitalize on strong price movements.
RSI to Price RatioThe RSI to Price Ratio is a technical indicator designed to provide traders with a unique perspective by analyzing the relationship between the Relative Strength Index (RSI) and the underlying asset's price. Unlike traditional RSI, which is viewed on a scale from 0 to 100, this indicator normalizes the RSI by dividing it by the price, resulting in a dynamic ratio that adjusts to price movements. The histogram format makes it easy to visualize fluctuations, with distinct color coding for overbought (red), oversold (green), and neutral (blue) conditions.
This indicator excels in helping traders identify potential reversal zones and trend continuation signals. Overbought and oversold levels are dynamically adjusted using the price source, making the indicator more adaptive to market conditions. Additionally, the ability to plot these OB/OS thresholds as lines on the histogram ensures traders can quickly assess whether the market is overstretched in either direction. By combining RSI’s momentum analysis with price normalization, this tool is particularly suited for traders who value precision and nuanced insights into market behavior. It can be used as a standalone indicator or in conjunction with other tools to refine entry and exit strategies.
