SuperTrend+ CleanedSimilar to SuperTrend+ which allows for confirmation bars.
Differences:
Limited to SMA calculation of average true range.
Can filter outlier volatility.
Can apply a standard deviation to the ATR value.
Supertrend
Supertrend + Stoch StrategyA strategy using ema , supertrend and stochastic .
Long entry conditions:
1. EMA 25 > EMA 50 and EMA 100 > EMA 100.
2. Supertrend indicator is green.
3. Stochastic k line cross over d line.
Long stop: the lowest price of the last k<d interval.
Long take: 1.5 times of stop.
The short conditions are opposite.
This strategy performed well in 1D timeframe of lots of cryptocurrency pairs. If you want to use it on 4H timeframe, you might need to finetune the parameters. But it is not recommended to use it on smaller timeframe due to the commission.
A Multi Pair Signal Alarm Version is also provided.
Supertrend + Stoch Strategy Multi-pair Signal AlarmBITSTAMP:BTCUSD
An entry alarm on Supertrend Stoch Strategy . It can monitor 10 trading pairs in one alarm.
Use this script on any trading pair and deploy the alarm. The alert comment shows the pair name, direction, entry point, sl/tp, and percentage of your position you should cost.
I currently use it as a signal for my grid trading.
supertrendHere is an extensive library on different variations of supertrend.
Library "supertrend"
supertrend : Library dedicated to different variations of supertrend
supertrend_atr(length, multiplier, atrMaType, source, highSource, lowSource, waitForClose, delayed) supertrend_atr: Simple supertrend based on atr but also takes into consideration of custom MA Type, sources
Parameters:
length : : ATR Length
multiplier : : ATR Multiplier
atrMaType : : Moving Average type for ATR calculation. This can be sma, ema, hma, rma, wma, vwma, swma
source : : Default is close. Can Chose custom source
highSource : : Default is high. Can also use close price for both high and low source
lowSource : : Default is low. Can also use close price for both high and low source
waitForClose : : Considers source for direction change crossover if checked. Else, uses highSource and lowSource.
delayed : : if set to true lags supertrend atr stop based on target levels.
Returns: dir : Supertrend direction
supertrend : BuyStop if direction is 1 else SellStop
supertrend_bands(bandType, maType, length, multiplier, source, highSource, lowSource, waitForClose, useTrueRange, useAlternateSource, alternateSource, sticky) supertrend_bands: Simple supertrend based on atr but also takes into consideration of custom MA Type, sources
Parameters:
bandType : : Type of band used - can be bb, kc or dc
maType : : Moving Average type for Bands. This can be sma, ema, hma, rma, wma, vwma, swma
length : : Band Length
multiplier : : Std deviation or ATR multiplier for Bollinger Bands and Keltner Channel
source : : Default is close. Can Chose custom source
highSource : : Default is high. Can also use close price for both high and low source
lowSource : : Default is low. Can also use close price for both high and low source
waitForClose : : Considers source for direction change crossover if checked. Else, uses highSource and lowSource.
useTrueRange : : Used for Keltner channel. If set to false, then high-low is used as range instead of true range
useAlternateSource : - Custom source is used for Donchian Chanbel only if useAlternateSource is set to true
alternateSource : - Custom source for Donchian channel
sticky : : if set to true borders change only when price is beyond borders.
Returns: dir : Supertrend direction
supertrend : BuyStop if direction is 1 else SellStop
supertrend_zigzag(length, history, useAlternateSource, alternateSource, source, highSource, lowSource, waitForClose, atrlength, multiplier, atrMaType) supertrend_zigzag: Zigzag pivot based supertrend
Parameters:
length : : Zigzag Length
history : : number of historical pivots to consider
useAlternateSource : - Custom source is used for Zigzag only if useAlternateSource is set to true
alternateSource : - Custom source for Zigzag
source : : Default is close. Can Chose custom source
highSource : : Default is high. Can also use close price for both high and low source
lowSource : : Default is low. Can also use close price for both high and low source
waitForClose : : Considers source for direction change crossover if checked. Else, uses highSource and lowSource.
atrlength : : ATR Length
multiplier : : ATR Multiplier
atrMaType : : Moving Average type for ATR calculation. This can be sma, ema, hma, rma, wma, vwma, swma
Returns: dir : Supertrend direction
supertrend : BuyStop if direction is 1 else SellStop
True BarcolorHeikin Ashi can be useful for understanding trend based on price action but it doesn't take volume in context. Here I have tried to use volume for understanding true bar color and ultimately true trend analysis. It can also help you in not getting trapped in sudden shakeouts. Also, you can use it for averaging of your existing position.
Conditions used:
Relative closing price
Relative volume against previous bar and overall moving average of volume
Volume analysis
Trend analysis
SupportResitanceAndTrendLibrary "SupportResitanceAndTrend"
Contains utilities for finding key levels of support, resistance and direction of trend.
superTrendPlus(multiple, h, l, atr, closeBars) A more flexible version of SuperTrend that allows for supplying the series used and sensitivity adjustment by confirming close bars.
Parameters:
multiple : The multiple to apply to the average true range.
h : The high values.
l : The low values.
atr : The average true range values.
closeBars : The number of bars to confirm a change in trend.
Returns:
superTrend(multiple, period, mode, closeBars) superTrendPlus with simplified parameters.
Parameters:
multiple : The multiple to apply to the average true range.
period : The number of bars to measure.
mode : The type of moving average to use with the true range.
closeBars : The number of bars to confirm a change in trend.
Returns:
stochSR() Identifies support and resistance levels by when a stochastic RSI reverses. Returns:
ZigZag Chart with SupertrendHello All,
This script creates Zigzag Chart by using Zigzag waves, so it's timeless chart meaning that no time dependency on X-axis. Optionally it can calculate & show Zigzag Supertrend or Simple Moving Average. Also it can change bar colors of the main chart by trend direction of Zigzag Supertrend.
As seen below, each zigzag wave is a candle on Zigzag chart:
You have a few options and using these options you can find best settings for the securities/timeframes.
You can change Zigzag period, if you change Zigzag Period then all zigzag and the chart is recalculated/reconstructed.
You have option to show Zigzag Supertrend or Zigzag Moving Average, the options you have;
- You can change ATR Length and ATR multiplier for supertrend
- You can change Length for Simple Moving Average
You can change Zigzag candle & wick colors using options. Also you have option to change bar colors according to Zigzag Supertrend direction.
As it's timeless chart, below you can see how/when bar colors and Zigzag Supertrend change:
You can see Simple Moving Average of the Zigzag Candles:
You can play with ATR length and multiplier to find best supertrend:
You can play with the candle & wick colors:
Enjoy!
7 Moving Averages [Plus]Moving Averages are price based, lagging (or reactive) indicators that display the average price of a security over a set period of time. A Moving Average is a good way to gauge momentum as well as to confirm trends, and define areas of support and resistance. Essentially, Moving Averages smooth out the “noise” when trying to interpret charts. Noise is made up of fluctuations of both price and volume. Because a Moving Average is a lagging indicator and reacts to events that have already happened, it is not used as a predictive indicator but as an interpretive one for confirmations and analysis.
Bollinger Bands (BB) are a widely popular technical analysis instrument created by John Bollinger. The BB consist of a band of three lines which are plotted in relation to security prices. The line in the middle is usually a Simple Moving Average (SMA) set to a period of 20 days (the type of trend line and period can be changed by the trader; however a 20 day moving average is by far the most popular). The SMA then serves as a base for the Upper and Lower Bands which are used as a way to measure volatility by observing the relationship between the Bands and price. Typically the Upper and Lower Bands are set to two standard deviations away from the SMA (The Middle Line); however the number of standard deviations can also be adjusted by the trader.
This script shows 6 moving averages and Bollinger Bands.
Features:
- Standard MA inputs.
- MA type.
- MA period.
- MA source.
- MA resolution (time frame).
- MA Offset.
- Forecasting : forcasted prices are calculated using our MAType and MASource for the MAPeriod.
- Trail: Show only candles not included in the MA calculation.
The color of MA1 depends on the chosen strategy, by default this is the 3EMA strategy. You can also select "Pivot Point Supertrend" or "Ichimoku Trend"
Added "Parabolic Stop and Reverse (PSAR)" . The PSAR is a time and price technical analysis tool primarily used to identify points of potential stops and reverses. In fact, the SAR in Parabolic SAR stands for "Stop and Reverse". The indicator's calculations create a parabola which is located below price during a Bullish Trend and above Price during a Bearish Trend.
Added "Linear Regression Channel" which can be correctly plotted on logarithmic charts. A linear regression channel consists of a median line with 2 parallel lines, above and below it, at the same distance. Those lines can be seen as support and resistance. The median line is calculated based on linear regression of the closing prices but the source can also be set to open, high or low. The height of the channel is based on the deviation of price to the median line. Extrapolating the channel forward can help to provide a bias and to find trading opportunities.
Keltner Center Of Gravity Channel ( KeltCOG )I have the ambition to create a ‘landscape’ which enables the user to see the ‘mood’ of the market about the price of an instrument, simply by looking where the candles go. Prices are a simple phenomenon , they go up or down or stay the same. This is represented quite well for the short term by a candle. I recommend to study candle patterns. Prices not only fluctuate but also trend up, down or go sideways. The user should analyze this by determining the COG (Center Of Gravity) and the ‘normal’ current range by using the historical data in a lookback period.
As a COG the center line of a Donchian Channel is often used. I.m.o. a COG should be a zone, in this channel I use the gray zone of my Donchian Fibonacci Channel, The ‘normal’ range is a multiple of Average True Range, as used in a Keltner Channel. Combining the two can give a cumbersome result, as one can see in my Keltner Fibonacci Channel. In this KeltCOG channel I solved this by not using all Fibonacci levels and by making the Keltner lines strictly parallel to the nearest COG line. To do this, I use the fact that the COG lines have horizontal stretches, there I make the Keltner lines horizontal too. Only where the COG lines change value, the Keltner lines are recalculated. This way the channel gets a very regular shape with three clear zones.
Interpretation of a chart by using the KeltCOG channel.
Overbought: If the candles go higher then the blue zone, the market is hyper enthusiast, creating an overbought situation. This is often followed by a reversion to the COG.
Uptrend: If the candles form in the blue zone, the market is enthusiast and willing to pay more.
Hopeful: If the candles form in or near the upper uncolored zone, the market is hopeful and is thinking about paying more. Sometimes prices go a little up.
Content: If the candles form in the gray zone, which represents COG, the market is happy with the current prices, so these move sideways
Disappointed: If the candles form in or near the lower uncolored zone, the market is disappointed and contemplates paying less, sometimes prices go a little down.
Downtrend: If the candles form in red zone, the market doesn’t like the instrument at all, rejects the current price and is only prepared to pay less.
Oversold: If the candles form below the red zone, the market overdoes its disgust, creating an oversold situation, often followed by a reversion to the COG.
HPH's SuperKeltnerThis indicator combines the Supertrend (to determine the main trend direction) with two Keltner channels (used for add and take profit signals) to construct a trend trading system.
These are the available settings:
General
UseTrendChange ➞ toggle trend change alerts and labels
UseAdds ➞ toggle add to position alerts and labels
UseTakeProfits ➞ toggle take profit alerts and labels
PrematureAdds ➞ toggle adding to position as soon as the add channels are left (default is false, so the add signal will only fire once the channels are re-entered)
PrematureTakeProfits ➞ toggle taking profit as soon as the tp channels are left (default is false, so the tp signal will only fire once the channels are re-entered)
Visualization
Show Add Keltner ➞ toggle display of the channels used for adding to the position
Show TP Keltner ➞ toggle display of the channels used for taking profit
Show SuperTrend ➞ toggle display of the Supertrend
Keltner
Standard Keltner channels settings except for the fact that there are two different multipliers. The Keltner TP Multiplier should generally be bigger than the Keltner Add Multiplier , as the channels are hit differently in trending markets. I recommend you to use the visualization settings to show the channels and adjust the settings to your liking.
Supertrend
Standard Supertrend settings, nothing to add here.
Alerts
Use the alert messages to customize what alert text the indicator will send. This makes it possible to use the script to automate trading bots.
By default, the alerts are sent after the candle has closed. This ensures that no repainting is happening. If you like the risk, you can toggle the corresponding WaitFor Confirmation if you wish to receive the signals earlier (max. once per bar).
Enjoy!
Multilevel ZigZag SupertrendVery much similar to :
I have slightly changed code to accommodate multiple zigzags. Also removed possibility of external source to keep it simple.
Indicator shows 2 Level zigzag based supertrends. Second zigzag used is multi level zigzag and hence, this acts as higher timeframe filter and can be considered as overall trend bias.
SuperTrend+ DuoUses two SuperTrend+ indicators to signal when a change in trend is confirmed.
By using a minor trend within the major, a pullback after a turning point can signal a more optimal entry.
See SuperTrend+ for more details.
Double CCIThe Commodity Channel Index (CCI) is a momentum oscillator used in technical analysis primarily to identify overbought and oversold levels by measuring an instrument's variations away from its statistical mean. Besides overbought/oversold levels, CCI is often used to find reversals as well as divergences. Originally, the indicator was designed to be used for identifying trends in commodities, however it is now used in a wide range of financial instruments.
There are several steps involved in calculating the CCI. The following example is for a typical 14 Period CCI:
CCI = (Typical Price - 14 Period SMA of TP) / (.015 x Mean Deviation)
Typical Price (TP) = (High + Low + Close)/3
Constant = .015
The Constant is set at .015 for scaling purposes. By including the constant, the majority of CCI values will fall within the 100 to -100 range.
Mean Deviation:
1) Subtract the most recent 14 Period Simple Moving from each typical price (TP) for the Period.
2) Sum these numbers strictly using absolute values.
3) Divide the value generated in step 2 by the total number of Periods (14 in this case).
Overbought and Oversold conditions can be used in their more traditional sense to identify future reversals . Remember true overbought/oversold thresholds values can and often do vary between instruments.
During a Bullish Trend , price crossing above the overbought threshold may indicate strong confidence in the move and price will continue to rise.
During a Bearish Trend , price crossing below the oversold threshold may indicate strong confidence in the move and price will continue to fall.
The first option is a modified CCI indicator that uses the "Arnaud Legoux Moving Average" instead of the SMA, and the source uses the VWAP instead of the HLC3. Added to this version an option to calculate CCI with different types of moving averages:
Green dots mean they are overbought
Orange dots mean they are oversold
Added a "SuperTrend Background" based on the modified CCI indicator:
Bull event = CCI crossing over the 0 line
Bear event = CCI crossing below the 0 line
Added a signal as EMA (modified CCI, signal length)
The second option is a standard CCI indicator that shows a coloured histogram of important levels, giving a good visual of the CCI levels. Added to this version is an extra coloured level +/-200 and an option to use Traditional CCI calculations according to user @JustUncleL
LEVELS:
Aqua: Greater than 200.
Lavender: Greater than 100 and less than 200.
Dark Lavender: Greater than 0 and less than 100.
Dark Coral: Less than 0 and greater than -100.
Coral: Less than -100 and greater than -200.
Light Red: Less than -200.
[blackcat] L1 Tether LineLevel: 1
Background
Omega Research proposed Tether line in June 2000. I utilized it in fast-slow line form to follow trend.
Function
Due it can provides good support and resistance, using it as "moving average" fast-slow line form can provide very stable golden cross and dead cross signal.
You can adjust parameters to fit for your trading pair and use it and compare it with Supertrend indicator.
Key Signal
Tether_fast --> Tether Fast Line.
Tether_slow --> Tether Slow Line.
Remarks
This is a Level 1 free and open source indicator.
Feedbacks are appreciated.
ZigZag SupertrendBack to my favourite supertrend. But, this time on the basis of zigzag pivots.
This is similar to forming supertrend based on pivot high lows - but instead of using pivot poitns, we are using zigzag pivots here.
Zigzag is derived using the same method as this script:
But, have removed labels and display options of zigzag. Older lines are also immediately deleted so that it can work well in lower timeframes without any error. Number of zigzaglines to be kept in memory depends on the parameter History
WaitForConfirmation option when selected only considers the confirmed zigzaglines and will ignore present zigzag line which is forming. This is not going to make much difference as the present zigzag line will be always opposite to low or high it formed and hence will not affect the stop loss levels or reversals.
WaitForClose is for supertrend determination. When checked uses close prices. If unchecked uses highs and lows for supertrend direction update.
ATR parameters allow you to set an adjustment below pivot high lows. This is required because support and resistence are often zones rather than single point. Hence, adds bit more wiggle room for trend continuation and delays frequent reversals on pullbacks.
SuperTrend+Based upon popular SuperTrend (AKA: ATR Trailing Stop) indicator with the following differences and improvements:
Defaults to using Volume-Adjusted WMA ( VAWMA ) for ATR. (Can still be configured to behave exactly like classic SuperTrend.)
Can use SMA, EMA, WMA, VWMA, and VAWMA instead of just SMA.
Confirmation close bars for avoiding false breaks.
Details:
If the confirmation closing bars value is greater than zero (default of two bars), the trend will only reverse if the price closes outside the boundary for that number of bars (does not need to be consecutive) or if the opposite side of the bar exceeds the boundary.
The confirmation bar count will reset if the trend has resumed (opposite boundary is broken).
Confirmation examples:
In a down-trend, but the previous two bars close above the boundary.
In a down-trend, but the low of the previous bar exceeds the boundary.
In a down-trend, but the high of the previous bar exceeds the boundary when confirmation bars are set to zero.
Supertrend with Percent Difference from CloseThis script improves the Supertrend indicator by displaying a label that shows the percent difference between the latest closing price & the Supertrend.
This comes in handy when one is using the Supertrend value as a stoploss level. For instance, one would like to have a maximum stop loss level of 8%. Instead of calculating how much percent the price is away from the Supertrend, one can look at the percent label & make an informed decision as to whether initiating a position would have favourable risk/reward or not.
Another utility would be selling into strength when one is using the Supertrend as a trailing stop loss. For instance, if the price is a certain percentage far away from the Supertrend, one may conclude that the price is now extended & either price correction or time correction would ensue, & decide to sell into strength.
Papercuts Super Trend MTF v02All my scripts are part of a suite called Papercuts .
This one uses one current timeframe supertrend and adds Four Automatic Higher Timeframe Supertrends based on those same parameters to help you determine larger trends while only needing a single chart. This works quite well on 5 and 15 minute charts and will look up in time. Confident trends can be identified by having two or more lines in the same direction.
When unified, the intensity of the glow should increase a trends confidence. Unify collapses the 3 highest timeframe supertrends into the first higher timeframe supertrend. Without Unify on, the overall trends are usually easier to see at just a glance. Higher timeframe supertrends can show support or resistance and act as stop loss limit ranges if you choose. Unify keeps things a bit cleaner and more compact.
V02 updated to fsecurity for no repainting and added a 3MA trend option as well.
Thanks to @Pinecoders for helping me better understand the security function!
Here is a view with Unify on....
Here is a view with Unify off...
SuperTrend - Custom Screener and Dynamic AlertsTrading View today published a desktop Bad Internet connection indicator ?! which set me thinking…
Despite recently introduced Dynamic Alerts many scripts do not leverage the information available for active traders and traders on the GO!
So decided to share this script totally ALERT focused on one of the most popular DAY trading indicators.
Of course no more BAD internet problem as long your TV APP is configured , you will have enough data for a mental picture of the chart..
The Alerts give you the BAR Close , %percent gain or loss over previous day CLOSE ++ Previous Day High and Low to effectively plan your trade without a chart!(just in case)
2 additions in the way Alerts are delivered over the last script :
1. You get SUMMARY alerts or concatenated alerts by default , however if you uncomment or activate code lines 48 and 55 you will get individual Stock alerts Too!
2. Summary Alerts will come only if there is some Buy or Sell signal NO more empty Alerts!
Few useful EXTRAS in the code :
1. Flexible code can convert any indicator to screener or Alert function.
2. You will NOT get Mutable Variable error while converting any indicator to screener as long as the function is in "GLOBAL" scope..
3. Many Custom Screeners are available but few give OHLC data in output so easily…and very difficult for traders to MODIFY hundreds of lines of code..
4. For UP or DOWN on SCREEN Stock monitoring copy /paste functions in line 41 and 42 in lieu of CROSS functions in 44 and 51 respectively..
5. You can also uncomment/activate lines 66 and 67 for labels in monitoring.
6. The default mode of the scripts is set to Alerts!
Max Stocks only 20!
Finally idea is to help traders to use the great features that TV works so hard to create and constantly improvise.
Enjoy Profitable Trading on the Fly !!
PMax on Rsi w/T3 *Strategy*Profit Maximizer Indicator on RSI with Tillson T3 Moving Average:
PMax uses ATR calculation inside, for this reason users couldn't manage to use PMax on RSI because RSI indicator doesn't have High and Low values in bars, but ATR needs that values. So I personally calculate RSI in a different way to have High and Low values of RSI wrt price bars.
IMPORTANT:
Because of the sudden movements and divergences on RSI , this indicator must firstly optimized for the charts before using. Optimization can be held by users for the meaningful parameters for each chart.
3 parameters are critical when optimizing:
First: Multiplier
Second: Tillson T3 Length
Third: T3 Volume Factor
Says, Kıvanç Özbilgiç. Here's the strategy version for you to backtest & optimize properly.
Enjoy.
Supertrend BandsSupertrend Bands
What is the Supertrend indicator?
"The Supertrend indicator is a trend following overlay on your trading chart, much like a moving average, that shows you the current trend direction.
The indicator works well in a trending market but can give false signals when a market is trading in a range.
It uses the ATR (average true range) as part of its calculation which takes into account the volatility of the market. The ATR is adjusted using the multiplier setting which determines how sensitive the indicator is."
"For the basic Supertrend settings, you can adjust period and factor:
- The period setting is the lookback for the ATR calculation
- Factor is the what the ATR is multiplied by to offset the bands from price"
How to use this indicator
This indicator is inspired by a strategy I found. It includes four Supertrend indicators, each with different settings that displays trend strength and support/resistance zones. The default settings are optimal for cryptocurrency but do work quite well for traditional also. I highly recommend you try experimenting with different settings, increasing them to suit the instrument.
The bands are set from low to high, Band 1 being the fastest and Band 4 being the slowest. Band 4 is the one that sets the overall trend so when price is above Band 4, the trend is bullish and vice versa. Trend is strongest when price is above/below Band 1 and gets weaker as it filters through each band. Band 4 provides the strongest support/resistance and if that breaks the trend flips.
In the menu, you will see an option called "Remove Anti Trend?". It is enabled by default and it removes any bearish/resistance bands when the trend is up and any bullish/support bands when the trend is down. When turned off, it will show all Supertrend Bands as they are by default.
Bar Colors
Bar colors are optional and they reflect the current trend strength based on the Supertrend bands.
Alternate ways of using this indicator
You could leave everything as default or you can display individual bands. For instance, because I use many overlay indicators, most of the time I turn off all the bands and only show bar colors:
You can also turn off Bands 1 and 2 and only show the two slowest lengths:
This removes the noise of the two faster Supertrends.
Or just show the two fastest bands:
Any suggestions to improve this indicator are most welcome :)
Supertrend - IntradaySupertrend Intraday Strategy
Basic supertrend strategy purpose built for intraday trading. Users can define intraday session during which the strategy will run.
Position is reversed when signal changes by using double quantity. Once the intraday session is over & if the position is open; it is squared off.
Parameters:
Intraday Session - Defines the duration for which the strategy should execute.
Multiplier
ATR Period
Tripple super Trend + EMA + RSI StrategyGreetings!
Here I show you the Tripple Super Trend Strategy.
I discovered the strategy on a YouTube channel and tried to transfer it as a strategy into a script.
Tested with the currency pair EUR/USD in the one hour chart.
Period: beginning of 2020 until today.
The strategy should also work with cryptocurrencies. But then the settings have to be adjusted.
There is the possibility to activate only long or only short position.
The EMA can be used in a time different from the chart.
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How does the strategy work?
For long positions, the candle must be above the EMA .
The candle must be closed above at least two of the supertrend lines.
The stochastic RSI must show oversold and the k line must cross over the D line.
For short positions, the candle must be below the EMA .
The candle must be closed below at least two of the supertrend lines.
The stochastic RSI must indicate overbought and the K line must cross below the D line.
The stop loss is determined with the "lowest low/highest high lookback".
The profit factor is multiplied by the value of the lowest low/highest high lookback.
The results of the strategy are without commissions and levers.
If you have any questions or feedback, please let me know in the comments.
In the future I will add other types of stop loss / take profits. (ATR; %; eg.)
If you need more information about the strategy and want to know exactly how to apply it, check out my profile.
I wish you good luck with the strategy!
