D-BoT Alpha Volume SpikeHello traders, Let me explain the code and provide an example of how to trade using this indicator.
The code you provided is a Pine Script indicator that combines multiple technical indicators, such as Supertrend, ADX, RSI, and MFI, to generate buy and sell signals. Here's a breakdown of the code:
User Settings:
The user can adjust parameters like overbought_limit, oversold_limit, volume_multiplier, volume_ma_length, volume_spike_multiple, lookback_period, and use_extremities_confirmation according to their preference.
Calculate Supertrend:
The Supertrend indicator is calculated using three different ATR lengths (supertrend_atr_period1, supertrend_atr_period2, supertrend_atr_period3) and corresponding factors (supertrend_factor1, supertrend_factor2, supertrend_factor3).
The supertrend_value1, supertrend_value2, and supertrend_value3 represent the Supertrend values, while trend_direction1, trend_direction2, and trend_direction3 indicate the trend direction (negative for downtrend, positive for uptrend).
Candle calculations:
The high and low values are checked to identify bullish and bearish candles based on specific conditions.
Volume Spikes:
Volume spikes are detected by comparing the current volume with a median volume over a specified lookback period.
If the volume exceeds a certain multiple of the median volume and the DI+ value is greater than the DI- value, an "up" signal is generated. Similarly, if the DI- value is greater than the DI+ value, a "down" signal is generated.
Additional Filters (RSI and MFI):
Relative Strength Index (RSI) and Money Flow Index (MFI) are used as additional filters.
The RSI and MFI parameters can be adjusted according to the user's preference.
The signals generated by the volume spikes are filtered based on RSI and MFI conditions.
Plotting:
The indicator plots shapes (triangles) to represent buy and sell signals.
The Supertrend lines are plotted using different colors and transparency levels based on the distance from the current price.
The "bodyMiddle" plot is used for filling the area between the Supertrend lines.
Example Trade Scenario:
Let's consider an example trade scenario using this indicator:
When the indicator generates an "up" signal (trendBuy = true), indicating a potential bullish trend, and all the confirmation conditions (RSI, MFI, Supertrend) are met, you can consider opening a long position.
Conversely, when the indicator generates a "down" signal (trendSell = true), indicating a potential bearish trend, and all the confirmation conditions are met, you can consider opening a short position.
Remember, this is just an example, and it's crucial to perform thorough analysis and consider other factors before making trading decisions. It's recommended to backtest the strategy, assess risk management, and apply appropriate position sizing techniques.
Please note that the code provided is a simplified version, and there might be additional factors and considerations specific to your trading strategy that are not included in this code. *******"I have also reviewed the following indicators, and the volume calculation approaches of my friends have been very helpful in creating this indicator: "Volume Spikes " © tradeforopp and "Volume Spikes & Growing Volume Signals With Alerts & Scanner" © FriendOfTheTrend."*******
Recherche dans les scripts pour "Relative Strength Index (RSI)"
Buy / Sell Fractal Algorithm with SL Line GenerationThis algorithm is designed for usage across indices.
How it works?
The algorithm uses a variation of fractals, momentum, RSI and LRSI to determine a trends direction.
The Relative Strength Index (RSI) is a momentum-based oscillator used to measure the speed (velocity) and change (magnitude) of directional price movements. It provides a visual means to monitor both the current and historical strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period, creating a reliable metric of price and momentum changes
Momentum in trading refers to the direction and magnitude of price. Momentum plays a key role in assessing trend strength, and it is important to know when a trend is slowing down. Less momentum does not always lead to a reversal, but it does signal that something is changing, and the trend may consolidate or reverse
Fractals are patterns within price changes which are repeated across thousands of bars. Examples of fractals include the golden ratio, PHI and the spirals of the milk way. They are quite literally a universal concept.
Basics of usage:
When a bullish trend is detected; the algorithm will generate a green "SL Line" at a calculated point, which can be interpreted as an invalidation line.
If the price goes below this line, the bullish trend is invalidated. So long as it holds, the bullish trend is true until the next detection change.
When a bearish trend is detected; the algorithm will generate a red "SL Line", at a calculated point, which can be interpreted as an invalidation line.
If the prices goes above this line, the bearish trend is invalidated. So long as it holds, the bearish trend is true until the next detection change.
When a given trend is invalidated, the SL Line turns yellow and you enter a "pause zone", where neither a bearish nor bullish trend is calculated.
This resets itself on the next trend detection.
Additional information:
I have coded my own backtest to this algorithm, along with plotting the profit / loss of each generated trade.
The profit is calculated by the difference between the open bar of the trade after a long ( or short ) and the following trade.
If we are calculating a short, the resulting value is then multiplied by -1 to get a positive integer.
For calculating a loss we take the value of the open bar of the trade that generates a long, and take the difference between this and the SL line, and similarly for short positions. The code assumes the user is placing their SL at the indicated line.
Within the input settings there are a few customisation options:
Alpha & Fractal Energy Length & Source - Should not be changed.
Highly bands crossover? - Has no visible effect whether on or off. It refers to the fractal chart which in this iteration is not visible and rather a backend mechanic.
Apply fractal energy? - Should generally be left turned on. This is a noise reduction. Disabling will result in over-trading.
Apply normalization? - Has no impact, is solely used to make the fractal values more human-readable rather than decimal format.
Offset - refers to the offset value of the SL Line generations. This should be set to a value that gives you enough breathing room, and remember to include any spreads! Default is 0.2, written in %
Trading hours - This simply gives a session input for the trading hours you want to trade within, and then colours the background green for that session. Trading 24/7 is never a wise strategy, stick to whatever is most optimal for you.
Leverage - Whatever leverage you are using. Default is x20. This will affect the profit / loss calculations accordingly.
Start equity - refers to the equity value you want to backtest with. Some assets will generate NA for this in the backtest label explained later.
Label customisation options.
Note that the backtest label is by default hidden, and appears when you hover over the black label at the current bar. When enabled to visible, it will show a large text label that may cover your chart screen more than you wish.
Alerts -
There are dozens of alert functionalities here; first are the timeframe assignments for each alert, set by default to 2hrs.
These timeframes then affect the asset you select in the corresponding setting.
In total there are 8 additional assets you can set alerts for.
Once you have assigned the timeframe and asset for an alert, you can then check the tick box for that individual alert.
Once done, you set the alert as normal through the tradingview alerts window. Remember to set "alert function calls only"
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Timers:
I have added some functionality for timers to be set, values are in minutes. These work on the exact time of placement. Do not change the extra symbol formula option.
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Note that this backtest is not intended as a replacement for tradingview backtest, nor is there a guarantee that historical results are to be replicated in the future. Trading is inherently risky.
Combined Strategy Trading Bot (RSI ADX 20SMA)Trading Bot V1, This code implements a combined trading strategy that uses several indicators and strategies to make buy and sell decisions in the market. The code is written in Pine Script™, which is a programming language used in the TradingView platform. By BraelonWhitfield.Eth
The strategy uses the Average Directional Movement Index (ADX) and the Pine SuperTrend indicator to identify trends and price movements in the market. The SuperTrend indicator is a popular technical analysis tool that helps to identify the direction of the current trend and provides entry and exit points for trades.
The strategy also uses the Relative Strength Index (RSI) to identify overbought and oversold conditions in the market. The RSI is a momentum indicator that measures the speed and change of price movements in the market.
The first part of the code defines the inputs for the ADX and DI Length, which are used to calculate the ADX and DI values. The dirmov() function is used to calculate the positive and negative directional indicators (plusDM and minusDM) based on the high and low prices. The truerange variable is then calculated using the True Range (TR) formula. Finally, the plus and minus variables are calculated using the smoothed moving average of the plusDM and minusDM values.
The adx() function is then used to calculate the ADX values based on the plus and minus variables. The Pine SuperTrend indicator is defined using the pine_supertrend() function. This function uses the high-low average (hl2) and the Average True Range (ATR) to calculate the upper and lower bands for the indicator. The direction of the current trend is then determined based on whether the current price is above or below the upper or lower bands.
The RSI values are then calculated using the ta.rsi() function, with the inputs for the close price and the RSI period. The overbought and oversold conditions are defined using the OB and OS inputs, which specify the threshold values for the RSI. The upTrend and downTrend variables are defined based on the direction of the Pine SuperTrend indicator.
The next part of the code defines the 20-period Simple Moving Average (SMA) using the ta.sma() function. The os and ob variables are then calculated based on the RSI values and the OB and OS inputs. The strategy.entry() function is used to define the buy and sell orders based on the upTrend and downTrend variables, as well as the Pine SuperTrend indicator, the 20-period SMA, and the os variable.
The final part of the code defines the Channel Breakout Strategy using the ta.highest() and ta.lowest() functions to calculate the upper and lower bounds of the channel. The strategy.entry() function is then used to define the buy and sell orders based on whether the current price is above or below the upper or lower bounds.
In summary, this code implements a combined trading strategy that uses several indicators and strategies to make buy and sell decisions in the market. The strategy is designed to identify trends and price movements in the market, as well as overbought and oversold conditions, to provide entry and exit points for trades. The strategy uses the Pine SuperTrend indicator, the ADX and DI indicators, the RSI, and the 20-period SMA, as well as the Channel Breakout Strategy to make informed trading decisions.
The Forbidden RSI [CHE]My main goal of programming and publishing an indicator is that everyone should have the opportunity to use indicators that do not show false signals or where there is maximum practical use, so I publish this indicator:
This script is an advanced variant of the Onset Trend Detector, a technical indicator for trend analysis developed by John F. Ehlers.
It is based on a non-linear quotient transformation and expands upon Mr. Ehlers' previous studies, the Super Smoother Filter and the Roofing Filter,
to address the lag issue common to moving average type indicators.
The algorithm in this script registers the most recent peak value and normalizes it. The normalized value then decays slowly until the next
peak swing. The ratio of the previously filtered value to the corresponding peak value is then transformed using a quotient transformation to
provide the resulting oscillator.
This script implements an indicator called "The forbidden RSI" (TFRSI). This indicator was developed by chervolino as an improvement on the
standard Relative Strength Index (RSI), which is a technical indicator used to measure the strength of a trend and identify potential buy and sell signals.
The TFRSI is calculated based on the close price and is typically plotted on a scale from -20 to 120, with values above 100 indicating that
the asset is overbought (likely to decline in value) and values below 1 indicating that it is oversold (likely to increase in value). The script
allows the user to customize the length of the RSI and the length of the trigger used to smooth the signal.
In order to calculate the TFRSI, the script first initializes some constants and then performs a series of calculations to determine the value of
"HP", "ag", and "Sp". The RSI value is then calculated based on the values of "X", which is based on "ag" and "Sp", and "q1", which is based on "X"
and the trigger length. The RSI value is plotted in a chart along with upper and lower bounds and a filled region representing the background.
Please check it out, it works perfectly to find good analysis and entries for both, longs and shorts.
Best regards
Chervolino
Note: I hope that the moderators like my script and the explanation and don't delete it this time
Muyyu oscillatorMuyyu oscillator(MO) is a combination of price based momentum and volume based momentum. MO consist of two things which is MO line and MO bar.
MO Line can be used to identify overbought and oversold situations. However, it is important to know when to look for overbought readings and when to look for oversold readings. As with most momentum oscillators, it is best to look for short-term oversold situations when the medium-term trend is up and short-term overbought situations when the medium-term trend is down. In other words, look for opportunities in the direction of the bigger trend, such as a pullback within a bigger uptrend. Define the bigger trend before looking for overbought or oversold readings.
MO Line quantifies the relationship between price and Bollinger Band. Readings above .80 indicate that price is near the upper band. Readings below .20 indicate that price is near the lower band. Surges towards the upper band show strength, but can sometimes be interpreted as overbought(divergence). Plunges to the lower band show weakness, but can sometimes be interpreted as oversold(Divergence). A lot depends on the underlying trend and other indicators. While MO Line can have some value on its own, it is best when used in conjunction with other indicators or price analysis.
MO Line = (Price - Lower Band)/(Upper Band - Lower Band)
The default setting for MO Line is (21,2). The bands are set 2 standard deviations above and below the 21-day simple moving average.
MO bar is a Money Flow Index(MFI) divide by 100.
MFI is a momentum indicator that measures the flow of money into and out of a security over a specified period of time. It is related to the Relative Strength Index (RSI) but incorporates volume, whereas the RSI only considers price. The MFI is calculated by accumulating positive and negative Money Flow values, then creating a Money Ratio. The Money Ratio is then normalized into the MFI oscillator form.
Combine this two to find where you will find a perfect entry for trend following. For example ;
a trend-following system using MO line with the MO bar. An uptrend begins when MO line is above 1 and MO bar is above 0.8(green bar). MO bar is bound between zero and one. A move above .80 places MO bar in the upper 20% of its range, which is a strong reading. Downtrends are identified when MO line is below 0 and MO bar is below 0.2.
Oscillators Overlay w/ Divergencies/Alerts by DGTAn oscillator is a technical analysis tool that, simply said, gauge momentum, determine market trend direction and duration. For some oscillators, fluctuations are bounded by some upper and lower band, and traders use them to discover short-term overbought or oversold conditions.
Oscillators are often combined with moving average indicators to signal trend breakouts or reversals
Histogram, is the difference between the oscillator and signal lines, which oscillates above and below a center line and is used as a good indication of an asset's momentum
What to look for
- Signal Line Crossover is the most common signal produced by the oscillators
- Zero Line Crossovers have a very similar premise to Signal Line Crossovers
- Divergence , when the oscillator and actual price are not in agreement, is another signal created by the oscillators
- Overbought and Oversold , with any range-bound oscillator, conditions are a primary signal generated
Oscillators Overlay study
* Presents oscillators on top of the mian chart (price chart)
* A single indicator for many well known and custom oscillators
* Divergence detection
* Alerts for various condtions
The list of oscillators included;
- Awesome Oscillator (AO)
- Chaikin Oscillator (Chaikin Osc)
- Commodity Channel Index (CCI)
- Distance Oscillator
- Elder-Ray Bear and Bull Power
- Elliott Wave Oscillator (EWO)
- Klinger Oscillator
- Money Flow Index (MFI)
- Moving Average Convergence Divergence (MACD)
- Rate Of Change (ROC)
- Relative Strength Index (RSI)
- Stochastic (Stoch)
- Stochastic RSI (Stoch RSI)
- Volume Oscillator (Volume Osc)
- Wave Trend
In technical analysis, investors find oscillators to be important technical tools and consider them more effective when used in conjunction with other means of technical analysis
Disclaimer : Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitutes professional and/or financial advice. You alone the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
MACD, RSI, & RVOL Strategy
This strategy combines the use of MACD (12, 26, 9), RSI (14, 30, 70), and RVOL (14) to create Long Buy and Sell signals. This works well with many different time intervals but was developed with 15-minute intervals in mind.
Using MACD as a reference, the strategy identifies when the MACD line crosses over (a factor in a buy signal) and under (a factor in a Sell signal) the Signal line. This shows a shift in positive (cross over) and negative (cross under) of a security.
Using the Relative Strength Index ( RSI ) as an indicator, the strategy notices when the velocity and magnitude of the directional price movements cross over the Oversold signal (30) and crosses under the Overbought signal (70) as a factor in creating a Buy and Sell signal.
Using Relative Volume (RVOL) as an indicator, the strategy calculates when the current volume has crossed over the 2x average volume indicator over a given period and is then used as a factor in creating a Buy signal. RVOL is also used when the change in volume crosses under a set RVOL number (in this strategy, it is set to a RVOL of 5).
RVOL = Current Volume / Average Volume over a certain period
This strategy indicates a Buy signal when 2/3 conditions are met:
- RSI Cross Over the Over Sold signal (default 30)
- MACD Cross Over of Signal ( MACD > Signal)
- RVOL Cross Over of 2 (RVOL > 2)
This strategy indicates a Sell signal when 2/3 conditions are met:
- RSI Cross Under the Over Bought signal (default 70)
- MACD Cross Under of Signal ( MACD < Signal)
- RVOL Cross Under 5 (RVOL < 5)
Enjoy and leave feedback!
PRIME - ShadoW ZoneZ with RSI LevelsIn This experimental study, we've taken RSI data, Volume Profile, and Trend analysis, combining them into one unique package that will allow a trader to analyze market trend lines and their proposed channels, trend momentum through candle color augmentation similar to "Pulse", and Visible Volume index price levels on chart for the current sequence. Below are explanations of each function within the system.
The Semafor is used to spot future multi-level Supports and Resistance zones.
It is also useful to spot HL or LL or HH or LH zones at different Depth settings.
The red zones are the extreme places where the market has a higher chance of reversing while the green zones have the lowest setting with lower chances of the market reversal
Automatic Trend Lines
The indicator takes in 2 timeframes to detect High and Low values from which to draw the trend lines of each timeframe.
As the values change with price movement, the lines are updated. They are color coded for uptrend and downtrend based on the direction of each individual line. Trend lines can be set up to color with only the default value on the configurations panel.
- Toggle on/off Color Coded
- Change Default, Uptrend, Downtrend color
- Change Line Width
- Change Line Style
- Toggle on/off Line Extensions
- Change Extended Line Width
- Change Extended Line Style
- Toggle On/Off labels for 7 data points of each timeframe
Automatic Trend Sights
This is a neat feature that may help you get a better feel for the direction the current movement is heading towards in correlation with the short or medium length timeframe trends. The sight draws a line from the middle vertical point of the trend coordinates towards the current price. They are toggled off by default but can be enabled in the configurations panel.
- Toggle on/off sight on each timeframe
- Change Width
- Change Line Style
Support & Resistance Levels, the main aim of the study. Level calculations are based on Relative Strength Index ( RSI ) threshold levels of oversold/overbought and bull/bear zones, where all threshold values are customizable through the user dialog box. Background of the levels can be colored optionally.
RSI Weighted Colored Bars and/or Mark Overbought/Oversold Bars , Bar colors can be painted to better emphasis RSI values. Darker colors when the oscillator is in oversold/overbought zones, light colors when oscillator readings are below/above the bull/bear zone respectively, and remain unchanged otherwise. Besides the colors, with “Display RSI Overbought/Oversold Price Bars” option little triangle shapes can be plotted on top or bottom of the bars when RSI is in oversold/overbought zones .
Disclaimer:
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
[blackcat] L1 Composite RSI-DMI Reversal IndicatorLevel: 1
Background
The Relative Strength Index (RSI) developed by J. Welles Wilder is a pulse oscillator that measures the speed and change of price movements. The RSI hovers between zero and 100. Traditionally, the RSI is considered overbought when it is above 70 and oversold when below 30. Signals can be generated by looking for divergences and error fluctuations. RSI can also be used to identify the general trend.
The Directional Movement Index (DMI) is an indicator developed by J. Welles Wilder in 1978 that indicates the direction in which the price of an asset is moving. The indicator compares previous highs and lows and draws two lines: a positive directional movement line (+ DI) and a negative directional movement line (-DI). An optional third line called Directional Movement (DX) shows the difference between the lines. When + DI is above -DI there is more upward pressure than downward pressure in price. When -DI is above + DI, the price continues to fall. This indicator can help traders estimate the direction of the trend. Crossovers between the lines are also sometimes used as trading signals to buy or sell.
Function
L1 Composite RSI-DMI Reversal Indicator combines J. Welles Wilder's RSI and DMI indicators together to identify trend reversals.
Key Signal
swinglow --> swing signal
trend --> trend signal to identify top reversal
Pros and Cons
Pros:
1. it exhibit leading character
2. it can disclose top and bottom reversals
Cons:
1. noise exists
2. depends on market and trading pairs
Remarks
Composite J. Welles Wilder indicator
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
[blackcat] L1 Composite RSI Trend OscillatorLevel: 1
Background
The Relative Strength Index (RSI) is a technical indicator for analyzing financial markets. It is intended to represent the current and historical strength or weakness of a trading pair or a market based on the closing prices of a last trading period.
Function
L1 Composite RSI Trend Oscillator utilizes candles to indicate trend. E.g. yellow candles for bull and fuchsia candles for bear. NOTE: it is inverted to RSI from bull bear perspective. Colorful RSI with yellow indicating bull and fuchsia indicating bear.
Key Signal
lwr1 --> trend oscillator fast line (lwr1 >= lwr2 for bear)
lwr2 --> trend oscillator slow line (lwr1 < lwr2 for bull)
botzone --> bottom zone indicates oversold with green
topzone --> top zone indicates overbought with red
longentry --> long entry signal
shortentry --> short entry signal
Pros and Cons
Pros:
1. combines both the benefit of RSI response and trend oscillator candles
2. divergence can be observed easily
Cons:
1. It may satruate for extreme conditions of long and short.
2. Not accurate for long and short entries and need filtering out noise and fake signal.
Remarks
NA
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
MFI Multi-TimeframeThe Money Flow Index (MFI) is an oscillating momentum and market strength indicator that was developed by Gene Quong and Avrum Soudack. It is also a leading indicator, which means it tends to lead price action, and is similar in calculation as J. Welles Wilder's Relative Strength Index (RSI) with the significant difference being that the MFI uses both price and volume. Like the RSI, the MFI is a range-bound oscillator that oscillates between zero and 100 and is interpreted in a similar way as the RSI. The ultimate aim of the MFI is to determine whether money is flowing in or out of a security over a specified look-back period.
HOW IS IT USED ?
The MFI oscillates between 0 and 100 and a security is considered overbought when its MFI rises above 80 and oversold when its MFI falls below 20. These levels are the suggested overbought and oversold levels as suggested by Quong and Soudack, though they do not suggest these levels as entry signals. Instead, these caution levels warn that the price action and the current trend have reached extremes that may be unsustainable. Quong and Soudack also recommend using the 90 and 10 lines as truly overbought and truly oversold levels respectively. MFI movements above 90 and below 10 are rare and indicate a higher level of unsustainability.
Finally, failure swings from the 20 or 80 levels can also be used to identify potential price reversals and trade entries. A failure swing occurs when the MFI moves over the overbought or oversold level but reverses back before reaching the opposite level. Thus, when the MFI crosses up over the 20 (oversold) level but reverses before it reaches the 80 (overbought) level, it indicates that the uptrend is weak and that it may reverse soon. This signals that you should cover any long positions or go short. Similarly, when the MFI crosses down over the 80 (overbought) level but reverses before it reaches the 20 (oversold) level, it indicates a weakness in the down trend and the probability that the trend will reverse. This would be a signal to close of any short positions; or a signal to long buy.
I added the possibility to add on the chart a 2nd timeframe for confirmation.
If you found this script useful, a tip is always welcome... :)
RSI - (R.A Trader)Of course. Here is a descriptive text in English for the custom RSI indicator, written for the students of R.A. Trader.
The R.A. Trader Custom RSI Indicator
1. Overview
Welcome, students of R.A. Trader!
This is the official custom Relative Strength Index (RSI) indicator designed specifically to support the analytical methods taught by Rudá Alves. This tool replaces the standard RSI with a specialized configuration, providing a more nuanced view of market momentum that aligns directly with the R.A. Trader strategy.
Its purpose is to help you quickly and accurately identify key zones of strength, weakness, and potential market exhaustion.
Enhanced Fuzzy SMA Analyzer (Multi-Output Proxy) [FibonacciFlux]EFzSMA: Decode Trend Quality, Conviction & Risk Beyond Simple Averages
Stop Relying on Lagging Averages Alone. Gain a Multi-Dimensional Edge.
The Challenge: Simple Moving Averages (SMAs) tell you where the price was , but they fail to capture the true quality, conviction, and sustainability of a trend. Relying solely on price crossing an average often leads to chasing weak moves, getting caught in choppy markets, or missing critical signs of trend exhaustion. Advanced traders need a more sophisticated lens to navigate complex market dynamics.
The Solution: Enhanced Fuzzy SMA Analyzer (EFzSMA)
EFzSMA is engineered to address these limitations head-on. It moves beyond simple price-average comparisons by employing a sophisticated Fuzzy Inference System (FIS) that intelligently integrates multiple critical market factors:
Price deviation from the SMA ( adaptively normalized for market volatility)
Momentum (Rate of Change - ROC)
Market Sentiment/Overheat (Relative Strength Index - RSI)
Market Volatility Context (Average True Range - ATR, optional)
Volume Dynamics (Volume relative to its MA, optional)
Instead of just a line on a chart, EFzSMA delivers a multi-dimensional assessment designed to give you deeper insights and a quantifiable edge.
Why EFzSMA? Gain Deeper Market Insights
EFzSMA empowers you to make more informed decisions by providing insights that simple averages cannot:
Assess True Trend Quality, Not Just Location: Is the price above the SMA simply because of a temporary spike, or is it supported by strong momentum, confirming volume, and stable volatility? EFzSMA's core fuzzyTrendScore (-1 to +1) evaluates the health of the trend, helping you distinguish robust moves from noise.
Quantify Signal Conviction: How reliable is the current trend signal? The Conviction Proxy (0 to 1) measures the internal consistency among the different market factors analyzed by the FIS. High conviction suggests factors are aligned, boosting confidence in the trend signal. Low conviction warns of conflicting signals, uncertainty, or potential consolidation – acting as a powerful filter against chasing weak moves.
// Simplified Concept: Conviction reflects agreement vs. conflict among fuzzy inputs
bullStrength = strength_SB + strength_WB
bearStrength = strength_SBe + strength_WBe
dominantStrength = max(bullStrength, bearStrength)
conflictingStrength = min(bullStrength, bearStrength) + strength_N
convictionProxy := (dominantStrength - conflictingStrength) / (dominantStrength + conflictingStrength + 1e-10)
// Modifiers (Volatility/Volume) applied...
Anticipate Potential Reversals: Trends don't last forever. The Reversal Risk Proxy (0 to 1) synthesizes multiple warning signs – like extreme RSI readings, surging volatility, or diverging volume – into a single, actionable metric. High reversal risk flags conditions often associated with trend exhaustion, providing early warnings to protect profits or consider counter-trend opportunities.
Adapt to Changing Market Regimes: Markets shift between high and low volatility. EFzSMA's unique Adaptive Deviation Normalization adjusts how it perceives price deviations based on recent market behavior (percentile rank). This ensures more consistent analysis whether the market is quiet or chaotic.
// Core Idea: Normalize deviation by recent volatility (percentile)
diff_abs_percentile = ta.percentile_linear_interpolation(abs(raw_diff), normLookback, percRank) + 1e-10
normalized_diff := raw_diff / diff_abs_percentile
// Fuzzy sets for 'normalized_diff' are thus adaptive to volatility
Integrate Complexity, Output Clarity: EFzSMA distills complex, multi-factor analysis into clear, interpretable outputs, helping you cut through market noise and focus on what truly matters for your decision-making process.
Interpreting the Multi-Dimensional Output
The true power of EFzSMA lies in analyzing its outputs together:
A high Trend Score (+0.8) is significant, but its reliability is amplified by high Conviction (0.9) and low Reversal Risk (0.2) . This indicates a strong, well-supported trend.
Conversely, the same high Trend Score (+0.8) coupled with low Conviction (0.3) and high Reversal Risk (0.7) signals caution – the trend might look strong superficially, but internal factors suggest weakness or impending exhaustion.
Use these combined insights to:
Filter Entry Signals: Require minimum Trend Score and Conviction levels.
Manage Risk: Consider reducing exposure or tightening stops when Reversal Risk climbs significantly, especially if Conviction drops.
Time Exits: Use rising Reversal Risk and falling Conviction as potential signals to take profits.
Identify Regime Shifts: Monitor how the relationship between the outputs changes over time.
Core Technology (Briefly)
EFzSMA leverages a Mamdani-style Fuzzy Inference System. Crisp inputs (normalized deviation, ROC, RSI, ATR%, Vol Ratio) are mapped to linguistic fuzzy sets ("Low", "High", "Positive", etc.). A rules engine evaluates combinations (e.g., "IF Deviation is LargePositive AND Momentum is StrongPositive THEN Trend is StrongBullish"). Modifiers based on Volatility and Volume context adjust rule strengths. Finally, the system aggregates these and defuzzifies them into the Trend Score, Conviction Proxy, and Reversal Risk Proxy. The key is the system's ability to handle ambiguity and combine multiple, potentially conflicting factors in a nuanced way, much like human expert reasoning.
Customization
While designed with robust defaults, EFzSMA offers granular control:
Adjust SMA, ROC, RSI, ATR, Volume MA lengths.
Fine-tune Normalization parameters (lookback, percentile). Note: Fuzzy set definitions for deviation are tuned for the normalized range.
Configure Volatility and Volume thresholds for fuzzy sets. Tuning these is crucial for specific assets/timeframes.
Toggle visual elements (Proxies, BG Color, Risk Shapes, Volatility-based Transparency).
Recommended Use & Caveats
EFzSMA is a sophisticated analytical tool, not a standalone "buy/sell" signal generator.
Use it to complement your existing strategy and analysis.
Always validate signals with price action, market structure, and other confirming factors.
Thorough backtesting and forward testing are essential to understand its behavior and tune parameters for your specific instruments and timeframes.
Fuzzy logic parameters (membership functions, rules) are based on general heuristics and may require optimization for specific market niches.
Disclaimer
Trading involves substantial risk. EFzSMA is provided for informational and analytical purposes only and does not constitute financial advice. No guarantee of profit is made or implied. Past performance is not indicative of future results. Use rigorous risk management practices.
3 Confirmation Bull This script is designed to help traders identify strong bullish conditions by providing a signal when three key confirmations align:
Price is Above the 15-period EMA:
This shows that the price is trading above a short-term average, a sign of bullish momentum.
RSI is Above a Threshold:
The Relative Strength Index (RSI) is used to measure the strength of price movements. When RSI is above the user-defined threshold (default 50), it indicates bullish momentum and avoids overbought zones.
Price is in an Uptrend:
An uptrend is confirmed when there are both higher highs and higher lows over a specified lookback period. This ensures that the price structure supports upward movement.
Key Features:
Visual Alerts: A green label appears below the price bar whenever all three conditions are met, making it easy to spot trading opportunities.
Customizable Settings: Adjust the EMA length, RSI threshold, and uptrend lookback period to match your trading style or timeframe.
Versatility: Suitable for intraday, swing, or positional trading in trending markets.
How to Use:
This indicator is ideal for traders looking to confirm a bullish setup. Use it to:
Enter Trades: As confirmation for long positions when the signal appears.
Validate Trends: Ensure conditions are favorable before committing to a trade.
Combine with Other Strategies: Enhance your trading system by pairing it with volume analysis, candlestick patterns, or support/resistance levels.
By combining these three confirmations, the script helps traders filter out false signals and focus on higher-probability setups, streamlining their decision-making process.
Adaptive Squeeze Momentum StrategyThe Adaptive Squeeze Momentum Strategy is a versatile trading algorithm designed to capitalize on periods of low volatility that often precede significant price movements. By integrating multiple technical indicators and customizable settings, this strategy aims to identify optimal entry and exit points for both long and short positions.
Key Features:
Long/Short Trade Control:
Toggle Options: Easily enable or disable long and short trades according to your trading preferences or market conditions.
Flexible Application: Adapt the strategy for bullish, bearish, or neutral market outlooks.
Squeeze Detection Mechanism:
Bollinger Bands and Keltner Channels: Utilizes the convergence of Bollinger Bands inside Keltner Channels to detect "squeeze" conditions, indicating a potential breakout.
Dynamic Squeeze Length: Calculates the average squeeze duration to adapt to changing market volatility.
Momentum Analysis:
Linear Regression: Applies linear regression to price changes over a specified momentum length to gauge the strength and direction of momentum.
Dynamic Thresholds: Sets momentum thresholds based on standard deviations, allowing for adaptive sensitivity to market movements.
Momentum Multiplier: Adjustable setting to fine-tune the aggressiveness of momentum detection.
Trend Filtering:
Exponential Moving Average (EMA): Implements a trend filter using an EMA to align trades with the prevailing market direction.
Customizable Length: Adjust the EMA length to suit different trading timeframes and assets.
Relative Strength Index (RSI) Filtering:
Overbought/Oversold Signals: Incorporates RSI to avoid entering trades during overextended market conditions.
Adjustable Levels: Set your own RSI oversold and overbought thresholds for personalized signal generation.
Advanced Risk Management:
ATR-Based Stop Loss and Take Profit:
Adaptive Levels: Uses the Average True Range (ATR) to set stop loss and take profit points that adjust to market volatility.
Custom Multipliers: Modify ATR multipliers for both stop loss and take profit to control risk and reward ratios.
Minimum Volatility Filter: Ensures trades are only taken when market volatility exceeds a user-defined minimum, avoiding periods of low activity.
Time-Based Exit:
Holding Period Multiplier: Defines a maximum holding period based on the momentum length to reduce exposure to adverse movements.
Automatic Position Closure: Closes positions after the specified holding period is reached.
Session Filtering:
Trading Session Control: Limits trading to predefined market hours, helping to avoid illiquid periods.
Custom Session Times: Set your preferred trading session to match market openings, closings, or specific timeframes.
Visualization Tools:
Indicator Plots: Displays Bollinger Bands, Keltner Channels, and trend EMA on the chart for visual analysis.
Squeeze Signals: Marks squeeze conditions on the chart, providing clear visual cues for potential trade setups.
Customization Options:
Indicator Parameters: Fine-tune lengths and multipliers for Bollinger Bands, Keltner Channels, momentum calculation, and ATR.
Entry Filters: Choose to use trend and RSI filters to refine trade entries based on your strategy.
Risk Management Settings: Adjust stop loss, take profit, and holding periods to match your risk tolerance.
Trade Direction Control: Enable or disable long and short trades independently to align with your market strategy or compliance requirements.
Time Settings: Modify the trading session times and enable or disable the time filter as needed.
Use Cases:
Trend Traders: Benefit from aligning entries with the broader market trend while capturing breakout movements.
Swing Traders: Exploit periods of low volatility leading to significant price swings.
Risk-Averse Traders: Utilize advanced risk management features to protect capital and manage exposure.
Disclaimer:
This strategy is a tool to assist in trading decisions and should be used in conjunction with other analyses and risk management practices. Past performance is not indicative of future results. Always test the strategy thoroughly and adjust settings to suit your specific trading style and market conditions.
Stock Rating [TrendX_]# OVERVIEW
This Stock Rating indicator provides a thorough evaluation of a company (NON-FINANCIAL ONLY) ranging from 0 to 5. The rating is the average of six core financial metrics: efficiency, profitability, liquidity, solvency, valuation, and technical ratings. Each metric encompasses several financial measurements to ensure a robust and holistic evaluation of the stock.
## EFFICIENCY METRICS
1. Asset-to-Liability Ratio : Measures a company's ability to cover its liabilities with its assets.
2. Equity-to-Liability Ratio : Indicates the proportion of equity used to finance the company relative to liabilities.
3. Net Margin : Shows the percentage of revenue that translates into profit.
4. Operating Expense : Reflects the costs required for normal business operations.
5. Operating Expense Ratio : Compares operating expenses to total revenue.
6. Operating Profit Ratio : Measures operating profit as a percentage of revenue.
7. PE to Industry Relative PE/PB : Compares the company's PE ratio to the industry average.
## PROFITABILITY METRICS
1. ROA : Indicates how efficiently a company uses its assets to generate profit.
2. ROE : Measures profitability relative to shareholders' equity.
3. EBITDA : Reflects a company's operational profitability.
4. Free Cash Flow Margin : Shows the percentage of revenue that remains as free cash flow.
5. Revenue Growth : Measures the percentage increase in revenue over a period.
6. Gross Margin : Reflects the percentage of revenue exceeding the cost of goods sold.
7. Net Margin : Percentage of revenue that is net profit.
8. Operating Margin : Measures the percentage of revenue that is operating profit.
## LIQUIDITY METRICS
1. Current Ratio : Indicates the ability to cover short-term obligations with short-term assets.
2. Interest Coverage Ratio : Measures the ability to pay interest on outstanding debt.
3. Debt-to-EBITDA : Compares total debt to EBITDA.
4. Debt-to-Equity Ratio : Indicates the relative proportion of debt and equity financing.
## SOLVENCY METRICS
1. Altman Z-score : Predicts bankruptcy risk
2. Beneish M-score : Detects earnings manipulation.
3. Fulmer H-factor : Predicts business failure risk.
## VALUATION METRICS
1. Industry Relative PE/PB Comparison : Compares the company's PE and PB ratios to industry averages.
2. Momentum of PE, PB, and EV/EBITDA Multiples : Tracks the trends of PE, PB, and EV/EBITDA ratios over time.
## TECHNICAL METRICS
1. Relative Strength Index (RSI) : Measures the speed and change of price movements.
2. Supertrend : Trend-following indicator that identifies market trends.
3. Moving Average Golden-Cross : Occurs when a short-term MA crosses above mid-term and long-term MA which are determined by half-PI increment in smoothing period.
4. On-Balance Volume Golden-Cross : Measures cumulative buying and selling pressure.
Stoch + RSI Oscillator @shrilssThis script combines two powerful indicators, the Stochastic Oscillator and the Relative Strength Index (RSI), to offer traders a comprehensive view of market dynamics.
The Stochastic Oscillator, known for its effectiveness in identifying overbought and oversold conditions, is enhanced here with a smoothing mechanism to provide clearer signals. The script calculates the %K and %D lines of the Stochastic Oscillator, then applies a smoothing factor to %K, resulting in a smoother representation of price momentum.
Simultaneously, the RSI component offers insights into the strength of price movements. By comparing the average gains and losses over a specified period, it provides a measure of bullish and bearish sentiment within the market.
This script's innovation lies in its integration of these two indicators. The Stochastic Oscillator's smoothed %K line and the RSI are compared to dynamic thresholds, enabling traders to identify potential trend reversals and confirmations more effectively. When the RSI crosses above or below the Stochastic %D line, it can signal potential shifts in market momentum.
Ultimate Balance StrategyThe Ultimate Balance Oscillator Strategy harnesses the power of the Ultimate Balance Oscillator to deliver a comprehensive and disciplined approach to trading. By combining the insights of the Rate of Change (ROC), Relative Strength Index (RSI), Commodity Channel Index (CCI), Williams Percent Range, and Average Directional Index (ADX) from TradingView, this strategy offers traders a systematic way to navigate the markets with precision.
The core principle of this strategy lies in its ability to identify optimal entry and exit points based on the movement of the Ultimate Balance Oscillator. When the oscillator line crosses below the 0.75 level, a buy signal is generated, indicating a potential opportunity for a bullish trend reversal. Conversely, when the oscillator line crosses above the 0.25 level, it triggers an exit signal, suggesting a possible end to a bullish trend.
Key Features:
1. Objective Market Analysis: The Ultimate Balance Oscillator Strategy provides a disciplined and objective approach to market analysis. By relying on the quantified insights of multiple indicators, it helps traders cut through market noise and focus on key signals, improving decision-making and reducing emotional biases.
2. Enhanced Timing and Precision: This strategy's entry and exit signals are based on the specific thresholds of the Ultimate Balance Oscillator. By waiting for confirmation through the crossing of these levels, traders can potentially enter trades at opportune moments and exit with greater precision, maximizing profit potential and minimizing risk exposure.
3. Customizability and Adaptability: The strategy offers flexibility, allowing traders to customize the parameters to fit their preferred trading style and timeframes. Whether you're a short-term trader or a long-term investor, the Ultimate Balance Oscillator Strategy can be adjusted to suit your specific needs, making it adaptable to various market conditions.
4. Real-time Alerts: Stay informed and never miss a potential trade opportunity with the strategy's built-in alert system. Set personalized alerts for buy and exit signals to receive timely notifications, ensuring you're always aware of the latest developments in the market.
5. Backtesting and Optimization: Before applying the strategy to live trading, it's recommended to conduct thorough backtesting and optimization. By testing the strategy's performance over historical data and fine-tuning the parameters, you can gain insights into its strengths and weaknesses, enabling you to make informed adjustments and increase its effectiveness.
Trading involves risk. Use the Ultimate Balance Oscillator Strategy at your own discretion. Past performance is not indicative of future results.
Ultimate Balance OscillatorIntroducing the Ultimate Balance Oscillator: A Powerful Trading Indicator
Built upon the renowned Rate of Change (ROC), Relative Strength Index (RSI), Commodity Channel Index (CCI), Williams Percent Range, and Average Directional Index (ADX) from TradingView, this indicator equips traders with an unparalleled understanding of market dynamics.
What sets the Ultimate Balance Oscillator apart is its meticulous approach to weighting. Each component is assigned a weight that reflects its individual significance, while carefully mitigating the influence of highly correlated signals. This strategic weighting methodology ensures an unbiased and comprehensive representation of market sentiment, eliminating dominance by any single indicator.
Key Features and Benefits:
1. Comprehensive Market Analysis: The Ultimate Balance Oscillator provides a comprehensive view of market conditions, enabling traders to discern price trends, evaluate momentum shifts, identify overbought or oversold levels, and gauge the strength of prevailing trends. This holistic perspective empowers traders to make well-informed decisions based on a thorough understanding of the market.
2. Enhanced Signal Accuracy: With its refined weighting approach, the Ultimate Balance Oscillator filters out noise and emphasizes the most relevant information. This results in heightened signal accuracy, providing traders with a distinct advantage in identifying optimal entry and exit points. Say goodbye to unreliable signals and welcome a more precise and dependable trading experience.
3. Adaptability to Various Trading Scenarios: The Ultimate Balance Oscillator transcends the constraints of specific markets or timeframes. It seamlessly adapts to diverse trading scenarios, accommodating both short-term trades and long-term investments. Traders can customize this indicator to suit their preferred trading style and effortlessly navigate ever-changing market conditions.
4. Simplicity and Ease of Use: The Ultimate Balance Oscillator simplifies trading analysis by providing a single line on the chart. Its straightforward interpretation and seamless integration into trading strategies make decision-making effortless. By observing bullish or bearish crossovers with the moving average, recognizing overbought or oversold levels, and tracking the overall trend of the oscillator, traders can make well-informed decisions with confidence.
5. Real-time Alerts: Stay ahead of the game with the Ultimate Balance Oscillator's customizable alert system. Traders can set up personalized alerts for bullish or bearish crossovers, breaches of overbought or oversold thresholds, or any specific events that align with their trading strategy. Real-time notifications enable timely action, ensuring traders never miss lucrative trading opportunities.
The Ultimate Balance Oscillator is a robust trading companion, empowering traders to make shrewd and calculated decisions. Embrace its power and elevate your trading endeavors to new heights of precision and success. Discover the potential of the Ultimate Balance Oscillator and unlock a world of trading possibilities.
God's Little FingerThe "God's Little Finger" indicator uses several technical analysis tools to provide information about the direction of the market and generate buy/sell signals. These tools include a 200-period exponential moving average (EMA), Moving Average Convergence Divergence (MACD), Bollinger Bands, and the Relative Strength Index (RSI).
EMA is used to determine if prices are trending. MACD measures the speed and momentum of the trend. Bollinger Bands are used to determine if prices are staying within a range and to measure the strength of the trend. RSI shows overbought/oversold levels and can be used to determine if the trend will continue.
The indicator generates buy/sell signals based on market conditions. A buy signal is generated when the MACD line is below zero, the price is below the lower boundary of the Bollinger Bands, the price is above the 200-period EMA, and the RSI is in oversold levels (usually below 40). A sell signal is generated when the MACD line is above zero, the price is above the upper boundary of the Bollinger Bands, the price is below the 200-period EMA, and the RSI is in overbought levels (usually above 60).
However, it should be noted that indicators can be used to predict market conditions, but they do not guarantee results and any changes or unexpected events in the market can affect predictions. Therefore, they should always be used in conjunction with other analysis methods and risk management strategies.
The Witcher [30MIN] - AlertsHello,
This is the Witcher Bot
This bot is got best performance at BTCUSDTPERP BINANCE FUTURES
this is bot for leverage 1x,
I tried focusing at highest % profitable trades, bot could be optimalised to even higher profit net.
TP: 1.1
SL: 8.2
Stop-loss unfortunelly have to be high to avoid bear/bull traps
The core of this strategy is trend strenght ( MONEY FLOW INDKES)
Strategy can only open position on strong price movment, to avoid wrong decision
Settings are set for highest profitable trades %
Bot using 10 indicators to trigger basic condtition for long and short :
1) ADX - Is one of the most powerful and accurate trend indicators. ADX measures how strong a trend is, and can give valuable information on whether there is a potential trading opportunity.
2) RSI - value helps strategy to stop trade in right time. When RSI is overbought strategy don't open new longs , also when RSI is oversold strategy don't open new shorts
3) TREND STRENGHT
4) JURIK MOVING AVERAGE - The Jurik Moving Average indicator is one of the surest ways to smoothen price curves within a minimum time lag. The indicator offers currency traders one of the best price filters during strong price moves. In this time, when bitcoin price action is so strong, this indicator is necessary.
5) SAR - The parabolic SAR is a technical indicator used to determine the price direction of an asset, as well as draw attention to when the price direction is changing. SAR supporting bot, to not open new trades when the trends are slowly changing
6) TREND INDICATOR
7) MOMENTUM - Indicator istechnical analysis tool used to determine the strength or weakness of a stock's price. Momentum measures the rate of the rise or fall of stock prices. Common momentum indicators include the relative strength index ( RSI ) and moving average convergence divergence ( MACD ).
8) OBV - On-balance volume (OBV) is a technical trading momentum indicator that uses volume flow to predict changes in stock price.
9) FAST MA - like previous ones this is for better view of trends, and correctly define the trends, also Speed_MA are using for predict the future price action.
10) RANGE FILTER - this indicator is for the better view of trends, define trends, that is important for every bull/bear traps which helps a lot becouse of the very variable trends.
I decided to add momentum indicator to strategy, to make a fast-reacting decision on lower timeframes at extremly price volatility
Also bot got additional EMA scalping option, which increase profit net but, in some situation, that could be risky.
For max security I recommend to turn off this option.
Commision are set at standard binancefutures VIP-0 = 0.04%
After converting strategy into study version, bot is ready for automation.
All the ploting color depends of adx value.
Strategy are not Repainting
For the source code I tried to keep as clean as I could
Enjoy
[NLX-L1] Trend Index- NLX Modular Trading Framework -
This module is build upon the Trend Index by Mango2Juice (thanks for your permission to use the source!)
It includes all the common indicators and creates a positive or negative score, which can be used with my Modular Trading Framework and linked to an entry/exit indicator.
SuperTrend
VWAP Bands
Relative Strength Index ( RSI )
Commodity Channel Index ( CCI )
William Percent Range (WPR)
Directional Movement Index (DMI)
Elder Force Index ( EFI )
Momentum
Demarker
Parabolic SAR
... and more
- Getting Started -
1. Add this Trend Index to your Chart
2. Add one of my Indicator Modules to your Chart, such as the QQE++ Indicator
3. In the QQE Indicator Settings combine it with the Trend Index (and choose L1 Type)
4. Optional: Add the Noise Filter , and in the Noise Filter Settings you select the QQE Indicator as combination (and choose L2 for Type)
5. Add the Backtest Module to your Chart
6. Select the Noise Filter in the Backtest Settings
Indicator modules can be combined in many different ways in my framework - have fun!
- Alerts for Automated Trading -
The alerts module is coming soon and you will be able to create alerts to automated your trades.
See my signature below for more information.
Stochastic / RSI (Wilder's [RMA] or Arnaud Legoux [ALMA])This script displays the Stochastic and Relative Strength Index ("RSI") indicators. Each indicator can be displayed standalone or shown together. The Stochastic indicator also has functionality to highlight overbought/oversold levels as well as relative placement of K and D. The RSI indicator can also be updated to utilize the Arnaud Legoux Moving Average ("ALMA") (vs. the standard Wilder's Moving Average).
I use based on default settings. ALMA RSI can help indicate extent of drop/rise from Stochastic overbought/oversold levels.
Recognition due to @kurtsmock for the work on validating the ALMA calculation (pinescript built-in function has slight deviation from original design) ---> LINK ().
