Prevailing Trend IndicatorOVERVIEW
The Prevailing Trend indicator is a technical indicator that gauges whether the price is currently trending up or down. The purpose of this indicator is to call and/or filter with-trend signals.
CONCEPTS
This indicator assists traders in identifying high-probability trend entries. The upper line (blue line on the indicator) is calculated by taking the average range (high-low) of all bullish candles. The lower line (red line on the indicator) is calculated by taking the average range of all bearish candles. When these two lines intersect and cross each other, a buy and sell signal is generated. For example, if the blue line crosses over the red line, this indicates that the average size of all bullish bars are larger than the average size of all bearish bars. This is a good sign that an uptrend might occur. Vice versa for downtrends.
HOW DO I READ THIS INDICATOR
As an entry indicator:
When the blue line crosses over the red line, go long.
When the red line crosses over the blue line, go short.
As a signal filter:
If the blue line is above the red line, only take long trades.
If the red line is above the blue line, only take short trades.
Trend
AFRHi everyone! Sorry for not posting anything for so long again. I will be active in July, after passing my university exams. I bought some S&C magazine archives, so await my new post strategies and indicator in July, as things are gonna get real interesting! But for now let me hand you some new and interesting stuff — AFR indicator.
Actually, this is my third time republishing this indicator after a big timeout because of the battles with TV mods on reference politics (which I lost).
This is indicator was originaly made by some user from other trading website, which I can't mention because of TV reference politics.
Which principles are behind AFR?
First we define our own low and high (OL and OH respectively), which are equal to:
OL = open - ATR * ATR_Factor
OH = open + ATR * ATR_Factor,
where ATR — Average True Range,
ATR_Factor — "Factor" in the settings — multiplier for ATR.
On each tick we remember AFR's value from previous bar, if it is not 0.
When OL is greater then AFR, then AFR is equal to OL. It means that there is probably an uptrend, so we adjust AFR accordingly.
When OH is lower then AFR, then AFR is equal to OH. It means that there is probably a downtrend, so we adjust AFR accordingly.
How to use?
Green AFR — bullish trend.
Red AFR — bearish trend.
Green AFR's triangle up — buy signal — appears when AFR changes it's colour from red to green.
Red AFR's triangle down— sell signal — appears when AFR changes it's colour from green to red.
ALERTS INCLUDED!
My personal ecommendations
- You can AFR as a tool to find short-term and middle-term trends, as it does it's best to find such trends;
- If are a scalper, then you probably should try AFR on low factor settings, as AFR alone can find good scalping entries.
- As AFR is a trend indicator, please use it with other confirmation indicator to make better entries.
Hope you will find this script useful.
Take your profits!
- Tarasenko Fyodor
CANDLE STICK HEATMAPCANDLE STICK HEATMAP shows the statistics of a candle at a particular time. its very useful to find repeating pattern's at a particular time in a day.
based on the settings you can see regular repeating patterns of a day in an hourly chart. During a particular time in day there is always a down or up signal or candles.
The table boxes are candles in RED and GREEN based on open and close of the chart. The Heat map is very useful in analyzing the daily Hourly candlesticks in a week. The Time of each candlestick is plotted on the table along with default Indicators like RSI, MACD, EMA, VOLUME, ADX.
Additionally this can be used as a screener of candles on all timeframes. Analysis is easy when you want to see what happened exactly at a particular time in the previous hour, day, month etc.,
Hopefully additional updates will be introduced shortly.
Indicators:
1. MACD (close,12,26,9)
2.RSI (close,14)
3.EMA 200
3.Volume MA
Option is provided to show indicator statistics and time.
Color can be changed using settings.
Supports all Time Zones
GKD-C Precision Trend [Loxx]The Giga Kaleidoscope GKD-C Precision Trend is a confirmation module included in Loxx's "Giga Kaleidoscope Modularized Trading System."
█ Giga Kaleidoscope GKD-C Precision Trend
The Precision Trend indicator is a type of price trend indicator that is calculated based on a certain period and sensitivity level. It uses a Simple Moving Average (SMA) and the range of price (high and low) within a specific period.
Here's a high-level conceptual overview of how it works:
Period & Sensitivity: The Precision Trend indicator first takes in two inputs: the period and sensitivity. The period specifies how many past periods (like days, hours, etc. based on the chart's timeframe) should be considered when calculating the indicator. Sensitivity is a factor that allows users to adjust how reactive the trend indicator is to price changes.
Calculate the SMA: The indicator starts by calculating the Simple Moving Average (SMA) of the price range (high minus low) over the defined period. This average is then scaled by the sensitivity.
Set Initial Variables: Several variables are initialized to represent the trend, adjusted closing price values, and other factors used in determining the trend.
Trend Determination: Based on whether the trend in the previous period was upwards, downwards, or non-existent, different logic is applied. Essentially, the algorithm checks the relationship between the current closing price and adjusted high and low values to determine if the trend should switch or continue.
If there was no trend previously, the closing price is compared to the adjusted high and low values. If the closing price is greater than the adjusted high value, an upward trend is established. If the closing price is less than the adjusted low value, a downward trend is established.
If the trend was upwards previously, it checks if the current closing price has dropped below the adjusted low value, which might signal a trend reversal to a downward trend.
If the trend was downwards previously, it checks if the current closing price has risen above the adjusted high value, which might signal a trend reversal to an upward trend.
The Precision Trend indicator gives traders an idea about the trend in the market, helping them decide when to enter or exit trades based on the trend direction and possible trend reversals.
█ Giga Kaleidoscope Modularized Trading System
Core components of an NNFX algorithmic trading strategy
The NNFX algorithm is built on the principles of trend, momentum, and volatility. There are six core components in the NNFX trading algorithm:
1. Volatility - price volatility; e.g., Average True Range, True Range Double, Close-to-Close, etc.
2. Baseline - a moving average to identify price trend
3. Confirmation 1 - a technical indicator used to identify trends
4. Confirmation 2 - a technical indicator used to identify trends
5. Continuation - a technical indicator used to identify trends
6. Volatility/Volume - a technical indicator used to identify volatility/volume breakouts/breakdown
7. Exit - a technical indicator used to determine when a trend is exhausted
8. Metamorphosis - a technical indicator that produces a compound signal from the combination of other GKD indicators*
*(not part of the NNFX algorithm)
What is Volatility in the NNFX trading system?
In the NNFX (No Nonsense Forex) trading system, ATR (Average True Range) is typically used to measure the volatility of an asset. It is used as a part of the system to help determine the appropriate stop loss and take profit levels for a trade. ATR is calculated by taking the average of the true range values over a specified period.
True range is calculated as the maximum of the following values:
-Current high minus the current low
-Absolute value of the current high minus the previous close
-Absolute value of the current low minus the previous close
ATR is a dynamic indicator that changes with changes in volatility. As volatility increases, the value of ATR increases, and as volatility decreases, the value of ATR decreases. By using ATR in NNFX system, traders can adjust their stop loss and take profit levels according to the volatility of the asset being traded. This helps to ensure that the trade is given enough room to move, while also minimizing potential losses.
Other types of volatility include True Range Double (TRD), Close-to-Close, and Garman-Klass
What is a Baseline indicator?
The baseline is essentially a moving average, and is used to determine the overall direction of the market.
The baseline in the NNFX system is used to filter out trades that are not in line with the long-term trend of the market. The baseline is plotted on the chart along with other indicators, such as the Moving Average (MA), the Relative Strength Index (RSI), and the Average True Range (ATR).
Trades are only taken when the price is in the same direction as the baseline. For example, if the baseline is sloping upwards, only long trades are taken, and if the baseline is sloping downwards, only short trades are taken. This approach helps to ensure that trades are in line with the overall trend of the market, and reduces the risk of entering trades that are likely to fail.
By using a baseline in the NNFX system, traders can have a clear reference point for determining the overall trend of the market, and can make more informed trading decisions. The baseline helps to filter out noise and false signals, and ensures that trades are taken in the direction of the long-term trend.
What is a Confirmation indicator?
Confirmation indicators are technical indicators that are used to confirm the signals generated by primary indicators. Primary indicators are the core indicators used in the NNFX system, such as the Average True Range (ATR), the Moving Average (MA), and the Relative Strength Index (RSI).
The purpose of the confirmation indicators is to reduce false signals and improve the accuracy of the trading system. They are designed to confirm the signals generated by the primary indicators by providing additional information about the strength and direction of the trend.
Some examples of confirmation indicators that may be used in the NNFX system include the Bollinger Bands, the MACD (Moving Average Convergence Divergence), and the MACD Oscillator. These indicators can provide information about the volatility, momentum, and trend strength of the market, and can be used to confirm the signals generated by the primary indicators.
In the NNFX system, confirmation indicators are used in combination with primary indicators and other filters to create a trading system that is robust and reliable. By using multiple indicators to confirm trading signals, the system aims to reduce the risk of false signals and improve the overall profitability of the trades.
What is a Continuation indicator?
In the NNFX (No Nonsense Forex) trading system, a continuation indicator is a technical indicator that is used to confirm a current trend and predict that the trend is likely to continue in the same direction. A continuation indicator is typically used in conjunction with other indicators in the system, such as a baseline indicator, to provide a comprehensive trading strategy.
What is a Volatility/Volume indicator?
Volume indicators, such as the On Balance Volume (OBV), the Chaikin Money Flow (CMF), or the Volume Price Trend (VPT), are used to measure the amount of buying and selling activity in a market. They are based on the trading volume of the market, and can provide information about the strength of the trend. In the NNFX system, volume indicators are used to confirm trading signals generated by the Moving Average and the Relative Strength Index. Volatility indicators include Average Direction Index, Waddah Attar, and Volatility Ratio. In the NNFX trading system, volatility is a proxy for volume and vice versa.
By using volume indicators as confirmation tools, the NNFX trading system aims to reduce the risk of false signals and improve the overall profitability of trades. These indicators can provide additional information about the market that is not captured by the primary indicators, and can help traders to make more informed trading decisions. In addition, volume indicators can be used to identify potential changes in market trends and to confirm the strength of price movements.
What is an Exit indicator?
The exit indicator is used in conjunction with other indicators in the system, such as the Moving Average (MA), the Relative Strength Index (RSI), and the Average True Range (ATR), to provide a comprehensive trading strategy.
The exit indicator in the NNFX system can be any technical indicator that is deemed effective at identifying optimal exit points. Examples of exit indicators that are commonly used include the Parabolic SAR, the Average Directional Index (ADX), and the Chandelier Exit.
The purpose of the exit indicator is to identify when a trend is likely to reverse or when the market conditions have changed, signaling the need to exit a trade. By using an exit indicator, traders can manage their risk and prevent significant losses.
In the NNFX system, the exit indicator is used in conjunction with a stop loss and a take profit order to maximize profits and minimize losses. The stop loss order is used to limit the amount of loss that can be incurred if the trade goes against the trader, while the take profit order is used to lock in profits when the trade is moving in the trader's favor.
Overall, the use of an exit indicator in the NNFX trading system is an important component of a comprehensive trading strategy. It allows traders to manage their risk effectively and improve the profitability of their trades by exiting at the right time.
What is an Metamorphosis indicator?
The concept of a metamorphosis indicator involves the integration of two or more GKD indicators to generate a compound signal. This is achieved by evaluating the accuracy of each indicator and selecting the signal from the indicator with the highest accuracy. As an illustration, let's consider a scenario where we calculate the accuracy of 10 indicators and choose the signal from the indicator that demonstrates the highest accuracy.
The resulting output from the metamorphosis indicator can then be utilized in a GKD-BT backtest by occupying a slot that aligns with the purpose of the metamorphosis indicator. The slot can be a GKD-B, GKD-C, or GKD-E slot, depending on the specific requirements and objectives of the indicator. This allows for seamless integration and utilization of the compound signal within the GKD-BT framework.
How does Loxx's GKD (Giga Kaleidoscope Modularized Trading System) implement the NNFX algorithm outlined above?
Loxx's GKD v2.0 system has five types of modules (indicators/strategies). These modules are:
1. GKD-BT - Backtesting module (Volatility, Number 1 in the NNFX algorithm)
2. GKD-B - Baseline module (Baseline and Volatility/Volume, Numbers 1 and 2 in the NNFX algorithm)
3. GKD-C - Confirmation 1/2 and Continuation module (Confirmation 1/2 and Continuation, Numbers 3, 4, and 5 in the NNFX algorithm)
4. GKD-V - Volatility/Volume module (Confirmation 1/2, Number 6 in the NNFX algorithm)
5. GKD-E - Exit module (Exit, Number 7 in the NNFX algorithm)
6. GKD-M - Metamorphosis module (Metamorphosis, Number 8 in the NNFX algorithm, but not part of the NNFX algorithm)
(additional module types will added in future releases)
Each module interacts with every module by passing data to A backtest module wherein the various components of the GKD system are combined to create a trading signal.
That is, the Baseline indicator passes its data to Volatility/Volume. The Volatility/Volume indicator passes its values to the Confirmation 1 indicator. The Confirmation 1 indicator passes its values to the Confirmation 2 indicator. The Confirmation 2 indicator passes its values to the Continuation indicator. The Continuation indicator passes its values to the Exit indicator, and finally, the Exit indicator passes its values to the Backtest strategy.
This chaining of indicators requires that each module conform to Loxx's GKD protocol, therefore allowing for the testing of every possible combination of technical indicators that make up the six components of the NNFX algorithm.
What does the application of the GKD trading system look like?
Example trading system:
Backtest: Multi-Ticker Full GKD Backtest
Baseline: Hull Moving Average
Volatility/Volume: Hurst Exponent
Confirmation 1: Precision Trendf as shown on the chart above
Confirmation 2: uf2018
Continuation: Coppock Curve
Exit: Rex Oscillator
Metamorphosis: Baseline Optimizer
Each GKD indicator is denoted with a module identifier of either: GKD-BT, GKD-B, GKD-C, GKD-V, GKD-M, or GKD-E. This allows traders to understand to which module each indicator belongs and where each indicator fits into the GKD system.
█ Giga Kaleidoscope Modularized Trading System Signals
Standard Entry
1. GKD-C Confirmation gives signal
2. Baseline agrees
3. Price inside Goldie Locks Zone Minimum
4. Price inside Goldie Locks Zone Maximum
5. Confirmation 2 agrees
6. Volatility/Volume agrees
1-Candle Standard Entry
1a. GKD-C Confirmation gives signal
2a. Baseline agrees
3a. Price inside Goldie Locks Zone Minimum
4a. Price inside Goldie Locks Zone Maximum
Next Candle
1b. Price retraced
2b. Baseline agrees
3b. Confirmation 1 agrees
4b. Confirmation 2 agrees
5b. Volatility/Volume agrees
Baseline Entry
1. GKD-B Baseline gives signal
2. Confirmation 1 agrees
3. Price inside Goldie Locks Zone Minimum
4. Price inside Goldie Locks Zone Maximum
5. Confirmation 2 agrees
6. Volatility/Volume agrees
7. Confirmation 1 signal was less than 'Maximum Allowable PSBC Bars Back' prior
1-Candle Baseline Entry
1a. GKD-B Baseline gives signal
2a. Confirmation 1 agrees
3a. Price inside Goldie Locks Zone Minimum
4a. Price inside Goldie Locks Zone Maximum
5a. Confirmation 1 signal was less than 'Maximum Allowable PSBC Bars Back' prior
Next Candle
1b. Price retraced
2b. Baseline agrees
3b. Confirmation 1 agrees
4b. Confirmation 2 agrees
5b. Volatility/Volume agrees
Volatility/Volume Entry
1. GKD-V Volatility/Volume gives signal
2. Confirmation 1 agrees
3. Price inside Goldie Locks Zone Minimum
4. Price inside Goldie Locks Zone Maximum
5. Confirmation 2 agrees
6. Baseline agrees
7. Confirmation 1 signal was less than 7 candles prior
1-Candle Volatility/Volume Entry
1a. GKD-V Volatility/Volume gives signal
2a. Confirmation 1 agrees
3a. Price inside Goldie Locks Zone Minimum
4a. Price inside Goldie Locks Zone Maximum
5a. Confirmation 1 signal was less than 'Maximum Allowable PSVVC Bars Back' prior
Next Candle
1b. Price retraced
2b. Volatility/Volume agrees
3b. Confirmation 1 agrees
4b. Confirmation 2 agrees
5b. Baseline agrees
Confirmation 2 Entry
1. GKD-C Confirmation 2 gives signal
2. Confirmation 1 agrees
3. Price inside Goldie Locks Zone Minimum
4. Price inside Goldie Locks Zone Maximum
5. Volatility/Volume agrees
6. Baseline agrees
7. Confirmation 1 signal was less than 7 candles prior
1-Candle Confirmation 2 Entry
1a. GKD-C Confirmation 2 gives signal
2a. Confirmation 1 agrees
3a. Price inside Goldie Locks Zone Minimum
4a. Price inside Goldie Locks Zone Maximum
5a. Confirmation 1 signal was less than 'Maximum Allowable PSC2C Bars Back' prior
Next Candle
1b. Price retraced
2b. Confirmation 2 agrees
3b. Confirmation 1 agrees
4b. Volatility/Volume agrees
5b. Baseline agrees
PullBack Entry
1a. GKD-B Baseline gives signal
2a. Confirmation 1 agrees
3a. Price is beyond 1.0x Volatility of Baseline
Next Candle
1b. Price inside Goldie Locks Zone Minimum
2b. Price inside Goldie Locks Zone Maximum
3b. Confirmation 1 agrees
4b. Confirmation 2 agrees
5b. Volatility/Volume agrees
Continuation Entry
1. Standard Entry, 1-Candle Standard Entry, Baseline Entry, 1-Candle Baseline Entry, Volatility/Volume Entry, 1-Candle Volatility/Volume Entry, Confirmation 2 Entry, 1-Candle Confirmation 2 Entry, or Pullback entry triggered previously
2. Baseline hasn't crossed since entry signal trigger
4. Confirmation 1 agrees
5. Baseline agrees
6. Confirmation 2 agrees
█ Connecting to Backtests
All GKD indicators are chained indicators meaning you export the value of the indicators to specialized backtest to creat your GKD trading system. Each indicator contains a proprietary signal generation algo that will only work with GKD backtests. You can find these backtests using the links below.
GKD-BT Giga Confirmation Stack Backtest
GKD-BT Giga Stacks Backtest
GKD-BT Full Giga Kaleidoscope Backtest
GKD-BT Solo Confirmation Super Complex Backtest
GKD-BT Solo Confirmation Complex Backtest
GKD-BT Solo Confirmation Simple Backtest
GKD-M Baseline Optimizer
GKD-M Accuracy Alchemist
GKD-BT Multi-Ticker SCC Backtest
GKD-BT Multi-Ticker SCS Backtest
GKD-BT Multi-Ticker SCS Backtest
GKD BT Multi-Ticker Full GKD Backtest
TrendLine I3-TLIdea:
Draw a trendline that can set an alert every time the price cross over/under.
Concept:
(Note that we take the close to get the closing price).
-Determine the coordinates of 2 points of the line AB: A(x1;y1); B(x2;y2).
-Apply Oxy geometry to the chart with price as Oy axis, time as Ox axis. Use linear equations to determine:
+If point's x > line's x, the point is to the right of the line.
+If point's x < line's x, the point is to the left of the line.
+If point's x == line's x, the point is on the line.
-Determine when the price is crossOver or crossUnder the trend line, display that time on the chart and send an alert.
How it works:
1. Input value to config the line by manually:
- Y1: Price 1 as point 1.
- X1: Time at point 1.
- Y2: Price 2 as point 2.
- X2: Time at point 2.
X2 (To date) must be after X1 (From date).
Please consider time (hour, minute) if timeframe < 1hour.
Then draw a line on the pouring table with straight line AB as solid line, extended line as broken line. Logic will start from dashed line (To date in input).
If the price changes value from side to side of the line, show the text label, change the background color accordingly (blue top, red bottom),
also sends an alert ("CrossUnder"; "CrossOver").
2. The indicator's operating range is limited to 500 bars from the "From date" bar. When reaching to the outside, it will show a yellow warning with outbound message.
3. Set alert for this indicator, it will send alert follow 1. condition.
Suitable time frames:
5m, 15m, 1h, 4h, 1D
* Please note that this logic does not attempt to predict future prices or 100% accurate signal.
This is FREE indicator.
(Please direct message or visit website if you want to try another invite-only indicators)
Hope you guys enjoy!
Examples:
GOLD 1D
EURUSD 1H
Vola2vola volatility Trade & TrendHello everyone!
For those who remember Vola2vola volatility Trade & Trend script, we are excited to bring it back within the Myfractalrange Tradingview account!
If you already chose to have access to Vola2vola volatility indicator, this one is using the same formula but instead of having a separate indicator to display Volatility, Volatility has now been converted into price values, which makes it possible to visualise it on the ticker chart directly.
It is more volatile than Myfractalrange Trend but it will give you a complementary view on the asset current situation: Bullish/Bearish with an additional timeframe view named Trade.
As you know, Volatility is very important to assets and many people use it to trade. This tool automate the calculation of the volatility of every asset as well as provide an estimated value of its "Trend" and "Trade" projected onto price.
The idea in this script is to allow users to have an idea of the current volatility regime of the asset he is monitoring: Is its volatility Bullish or Bearish Trend, Bearish or Bullish Trade?
What are the data provided by the script:
- Trade : Trade is generated using an arbitrary and fixed look back period, it acts as a short-term Trend. It will give the user the possibility to know if the asset is still trending up or down short-term. Default colour is black
- Trend: Trend is also generated using an arbitrary and fixed look back period (20 times the one used for Trade), it acts as a longer-term view of the asset trendiness. It works the same way as Trade and will give the user the possibility to know if the volatility of the asset is trending a longer-term basis or not. Default colours are: red when the Trend of the asset is Bearish and green when the Trend of the asset is Bullish
Here are some of the questions you need to know the answer to before using this script:
- How do you define a "Bullish/Bearish Trade"? Volatility is Bullish Trade when Price is above Trade and it is Bearish Trade when Price is below Trade
- How do you define a "Bullish/Bearish Trend"? Volatility is Bullish Trend when Price is above Trend and it is Bearish Trend when Price is below Trend
- On which time frame should i use this script? You want to use the Daily time frame. Although, for short term moves in the volatility space, users could monitor the Hourly timeframe
Understanding the volatility of an asset, along with the bullish or bearish nature of its Trade and Trend, is crucial for investors. Assets that are Bullish Trend and Trade tend to appreciate in value, while those that are Bearish Trend and Trade tend to depreciate. Therefore, we recommend investors be aware of the volatility Trend and Trade situation of the asset they are holding in their portfolio.
Here are the different scenarios that you will encounter on a Daily timeframe and how to interpret them:
- Price is above Trade & Trend: It is the most Bullish set up for the price of an asset
- Price is below Trade & Trend: It is the most Bearish set up for the price of an asset
- Any other set up suggests uncertainty, caution is therefore recommended
These are some cases that you could experience while using this script:
1) Bullish set up on a daily timeframe:
In this example using AAPL, when it is Bullish Trend and Trade on a daily timeframe, the price of AAPL tends to appreciate
2) Bearish set up on a daily timeframe:
In this example using IWM, when it is Bearish Trend and Trade on a daily timeframe, the price of IWM tends to depreciate
The idea of opening this script is to give you another layer of confidence when using our other scripts, especially when using Myfractalrange Trend.
We hope that you will find these explanations useful, please contact us by private message for access.
Enjoy!
DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorised. This script is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. Myfractalrange is not responsible for any losses you may incur. Please invest wisely.
Cumulative TICK [Pt]Cumulative TICK Indicator, shown as the bottom indicator, is a robust tool designed to provide traders with insights into market trends using TICK data. This indicator visualizes the cumulative TICK trend in the form of colored columns on a separate chart below the main price chart.
Here's an overview of the key features of the Cumulative TICK Indicator:
1. Selectable TICK Source 🔄: The indicator allows users to choose from four different TICK data sources, namely USI:TICK , USI:TICKQ , USI:TICKI , and $USI:TICKA.
2. TICK Data Type Selection 🎚️: Users can select the type of TICK data to be used. The options include: Close, Open, hl2, ohlc4, hlc3.
3. Optional Simple Moving Average (SMA) 📊: The indicator offers an option to apply an SMA to the Cumulative TICK values, with a customizable length.
4. After-hour Background Color 🌙: The background color changes during after-hours to provide a clear distinction between regular and after-hour trading sessions.
🛠️ How it Works:
The Cumulative TICK Indicator uses TICK data accumulated during the regular market hours (9:30-16:00) as per the New York time zone. At the start of a new session or at the end of the regular session, this cumulative TICK value is reset.
The calculated Cumulative TICK is plotted in a column-style graph. If the SMA is applied, the SMA values are used for the column plots instead. The columns are colored green when the Cumulative TICK is positive and red when it is negative. The shades of green and red vary based on whether the Cumulative TICK is increasing or decreasing compared to the previous value.
This is a simple yet powerful tool to track market sentiment throughout the day using TICK data. Please note that this indicator is intended to be used as part of a comprehensive trading strategy. Always ensure you are managing risk appropriately and consulting various data sources to make informed trading decisions.
Trend IntensityThis indicator uses 5 & 65 EMA to gauge intensity of a trend. It is useful for determining a trends newness & strength.
To calculate Trend Intensity, we simply divide the value of the 5 EMA by 65 EMA.
The indicator uses data from previous 500 bars to automatically calculate the minimum bullish and bearish intensity value, individual to each stock.
When a stock's current intensity is above the minimum bullish intensity value determined from its historical data, the indicator will color the area between the 5 & 65 EMA as Green, indicating an environment favoring Longs.
Similarly, when the stock's current intensity is below the minimum bearish intensity value, the indicator will color the area red, indicating an environment favoring shorts.
Lastly, when the stock is not trading above or below the minimum bullish or bearish intensity respectively, the indicator will color the area yellow, indicating slowing down of momentum or intensity, a choppy sideways environment or change of a trend.
Trend Intensity Indicator is inspired & modeled on the same concept by Mr. Pradeep Bonde(Stockbee).
Adaptive Gaussian Moving AverageThe Adaptive Gaussian Moving Average (AGMA) is a versatile technical indicator that combines the concept of a Gaussian Moving Average (GMA) with adaptive parameters based on market volatility. The indicator aims to provide a smoothed trend line that dynamically adjusts to different market conditions, offering a more responsive analysis of price movements.
Calculation:
The AGMA is calculated by applying a weighted moving average based on a Gaussian distribution. The length parameter determines the number of bars considered for the calculation. The adaptive parameter enables or disables the adaptive feature. When adaptive is true, the sigma value, which represents the standard deviation, is dynamically calculated using the standard deviation of the closing prices over the volatilityPeriod. When adaptive is false, a user-defined fixed value for sigma can be input.
Interpretation:
The AGMA generates a smoothed line that follows the trend of the price action. When the AGMA line is rising, it suggests an uptrend, while a declining line indicates a downtrend. The adaptive feature allows the indicator to adjust its sensitivity based on market volatility, making it more responsive during periods of high volatility and less sensitive during low volatility conditions.
Potential Uses in Strategies:
-- Trend Identification : Traders can use the AGMA to identify the direction of the prevailing trend. Buying opportunities may arise when the price is above the AGMA line during an uptrend, while selling opportunities may be considered when the price is below the AGMA line during a downtrend.
-- Trend Confirmation : The AGMA can be used in conjunction with other technical indicators or trend-following strategies to confirm the strength and sustainability of a trend. A strong and steady AGMA line can provide additional confidence in the prevailing trend.
-- Volatility-Based Strategies : Traders can utilize the adaptive feature of the AGMA to build volatility-based strategies. By adjusting the sigma value based on market volatility, the indicator can dynamically adapt to changing market conditions, potentially improving the accuracy of entry and exit signals.
Limitations:
-- Lagging Indicator : Like other moving averages, the AGMA is a lagging indicator that relies on historical price data. It may not provide timely signals during rapidly changing market conditions or sharp price reversals.
-- Whipsaw in Sideways Markets : During periods of low volatility or when the market is moving sideways, the AGMA may generate false signals or exhibit frequent crossovers around the price, leading to whipsaw trades.
-- Subjectivity of Parameters : The choice of length, adaptive parameters, and volatility period requires careful consideration and customization based on individual preferences and trading strategies. Traders need to adjust these parameters to suit the specific market and timeframe they are trading.
Overall, the Adaptive Gaussian Moving Average can be a valuable tool in trend identification and confirmation, especially when combined with other technical analysis techniques. However, traders should exercise caution, conduct thorough analysis, and consider the indicator's limitations when incorporating it into their trading strategies.
Myfractalrange TrendHello Traders!
This is our main addition to MFR TradingView account: Myfractalrange Trend.
Many Trend signals exist out there, each trader has at some point created its own.
At Myfractalrange, we have developed a proprietary formula based on Price, Volume and Volatility.
Before going into how subscribers can use the Trend script, let't have a look at the different data point provided one by one:
- Bullish Trend: If the price of the asset is above this value, the asset is considered to be Bullish Trend. Default colour is green
- Bearish Trend : If the price of the asset is below this value, the asset is considered to be Bearish Trend. Default colour is red
- Neutral Trend: If the price of the asset is between the value of the Bullish Trend and the value of the Bearish Trend, the asset is considered to be Neutral Trend. Default colour is yellow
How does the script work?
The provided script is proprietary, so while the specific calculations and data sources cannot be disclosed, here is a broad explanation on how it works:
- It will retrieve the relevant data from the asset, could be volume, close, high, low, etc.
- The script will then check the length for the trend calculation of this specific asset and compute the Trend line
- From the value of this Trend line, we will then generate the "bullish" and "bearish" values
- The script will then plot the Bullish and Bearish values on the chart, the area between both being set as the Neutral area
How to use trend when trading?
When trading, understanding and utilising trends can be valuable for making informed trading decisions. Here are some key ways to use trends in trading:
- Trend Identification: Identifying the presence and direction of a trend is crucial
- Trend Following: One common trading strategy is trend following, which involves trading in the direction of the prevailing trend. In an uptrend, traders may look for opportunities to buy or go long, while in a downtrend, they may seek opportunities to sell or go short. Trend following strategies assume that trends are more likely to continue than reverse, and traders aim to capitalise on sustained price movements
- Trend Reversals: Identifying potential trend reversals is another approach. Traders may look for signs that a trend is losing momentum or showing signs of exhaustion. Traders may then consider taking contrarian positions or closing existing trades.
- Timing Entries and Exits: Trends can help with timing entry and exit points. Traders often aim to enter trades at favourable points within a trend, such as during pullbacks in an uptrend or rallies in a downtrend. This allows them to potentially capture favourable risk-to-reward ratios
- Risk Management: Incorporating trend analysis into risk management is crucial. Traders can set stop-loss orders or trailing stops based on the trend, aiming to protect profits or limit losses if the trend reverses. Position sizing can also be adjusted based on the strength or duration of a trend, with larger positions taken in strong, well-established trends
- Multiple Time Frame Analysis: Examining trends across different time frames can provide a broader perspective. Traders can look for alignment in trends across shorter-term and longer-term charts to gain confidence in their trading decisions. For example, a Trend on a daily chart may align with a Trend on a hourly chart, reinforcing the potential trading opportunity
The Myfractalrange Trend signal can be used for all the possibilities listed above
Here is an example of a Bullish Trend pattern: BTFD set up
Here is an example of a Bearish Trend pattern: STFR set up
Why use Trend in combination with other indicators, such as Hurst and probable Range?
Using Trend in combination with Hurst exponent and probable Range can provide traders with a more comprehensive view of market dynamics and potential trading opportunities. Here's how the three concepts can complement each other:
- Trend Analysis: Trend analysis helps identify the prevailing direction of the market. It provides insights into whether the market is in an uptrend (Bullish), downtrend (Bearish), or sideways consolidation (Neutral). Trend analysis helps traders align their positions with the dominant market direction, increasing the likelihood of successful trades
- Hurst exponent: Hurst exponent is a measure of the persistence or mean reversion characteristics of a time series. It provides insights into the strength and sustainability of price movements. Hurst momentum analysis helps traders understand whether the market is exhibiting trending behaviour or mean-reverting behaviour. It can help identify potential reversals or continuation patterns in the price action.
- Probable Range: The Range refers to the expected price range within which an asset is likely to fluctuate, in our case the MFR Ranges (normal and longer-term). It helps traders set realistic profit targets and stop-loss levels. By combining the probable range with the trend and the Hurst Exponent, traders can better gauge the potential extent of price movements and make more informed decisions regarding entry and exit points.
How to use these tools together?
- Confirmation and Confluence: Combining Trend with Hurst & Range can provide confirmation and confluence signals. For instance, when the trend analysis indicates an uptrend, Hurst confirms strong positive momentum and Range confirms the upside potential, it provides a stronger signal for potential bullish trades
- Timing Entries and Exits: The combination of trend analysis, Hurst and Range can assist in timing entry and exit points. For example, when trend analysis indicates an uptrend, traders can look for bullish signals from Hurst value and low of the MFR Range to identify potential entry points during pullbacks or periods of consolidation. Conversely, in a downtrend, bearish signals from Hurst at the top of the MFR Range can guide traders in identifying potential short-selling opportunities during corrective rallies
- Risk Management: The integration of trend analysis with Hurst and Range can also aid in risk management. Traders can adjust their stop-loss levels and profit targets based on the strength of the trend, its strength and its Range. Tighter stop-loss levels can be set when both trend analysis, Hurst value and Range are aligned, indicating a higher probability of trend continuation. Conversely, wider stop-loss levels may be used when conflicting signals or weakening trends are observed
By combining Trend analysis, Hurst exponent and MFR probable Range, traders can gain a more comprehensive understanding of the market's behaviour and make more informed trading decisions.
It's important to note that while Trend is a useful tool, it should not be relied upon solely for making trading decisions. It's recommended to use it in conjunction with other technical analysis tools and consider other factors such as market conditions, risk management, and fundamental analysis. Remember that the momentum indicator is just one tool among many, and it's important to consider other factors such as volume, momentum, volatility, and overall market conditions when making trading decisions. Additionally, using stop-loss orders and proper risk management techniques is crucial to mitigate potential losses.
We hope that you will find these explanations useful, please contact us by private message for access.
Enjoy!
DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorised. This script is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. Myfractalrange is not responsible for any losses you may incur. Please invest wisely.
Average Variation Bands OscillatorSimilar to how a donchian% of channel helps to visualize trend and volatility, this tool helps identify those same characteristics, if the oscillator is generally above the 50 mark, it is considered to be trending upwards, and the reverse if it is generally bellow 50.
Vola2vola Volatility indicatorHello everyone!
For those who remember vola2vola volatility script, we are excited to bring it back within the Myfractalrange Tradingview account!
As you know, Volatility is very important to assets and many people use it to trade. This tool automate the calculation of the volatility of every asset as well as provide an estimated value of its "Trend" and "Trade".
The idea in this script is to allow users to have an idea of the current volatility regime of the asset he is monitoring: Is its volatility Bullish or Bearish Trend, Bearish or Bullish Trade? Is its volatility compressed to a previous minimum value? Is it about to experience a spike in volatility? Let's dig together into how this tool works and how you could integrate it into your trading shall we?
What are the data provided by the script, let see one by one:
- Volatility: The value of what vola2vola calls the "synthetic" volatility of the asset is calculated using a custom formula based on the VIXFIX formula. Default colour is blue
- Trade : Trade is generated using an arbitrary and fixed look back period, it acts as a short-term trend. It will give the user the possibility to know if the volatility of the asset is still trending short-term or not. Default colour is black
- Trend: Trend is also generated using an arbitrary and fixed look back period (20 times the one used for Trade), it acts as a longer-term trend. It works the same way as Trade and will give the user the possibility to know if the volatility of the asset is trending a longer-term basis or not. Default colours are: red when the Trend of the volatility of the asset is Bearish and green when the Trend of the volatility of the asset is Bullish
- 52-weeks high & low: Based on the highest and lowest value of Volatility in the past 52 weeks, a 52-weeks high and a 52-weeks low will be marked. These values usually acts as Resistance and Support for volatility. Default colour is black and they are in dotted lines
Here are some of the questions you need to know the answer to before using this script:
- How do you define a "Bullish/Bearish volatility Trade"? Volatility is Bullish Trade is when Volatility is above Trade and it is Bearish Trade when volatility is below Trade
- How do you define a "Bullish/Bearish volatility Trend"? Volatility is Bullish Trend is when Volatility is above Trend and it is Bearish Trend when volatility is below Trend
- On which time frame should i use this script? You want to use the Daily time frame. Although, for short term moves in the volatility space, users could monitor the Hourly timeframe
Understanding the volatility of an asset, along with the bullish or bearish nature of its Trade and Trend, is crucial for investors. Assets with decreasing volatility tend to appreciate in value, while those with increasing volatility tend to depreciate. Therefore, we recommend investors be aware of the volatility situation of the asset they are holding in their portfolio.
Here are the different scenarios that you will encounter on a Daily timeframe and how to interpret them:
- Volatility is below Trade & Trend and Volatility is Bearish Trade and Trend: It is the most Bullish set up for the price of an asset
- Volatility is above Trade & Trend and Volatility is Bullish Trade and Trend: It is the most Bearish set up for the price of an asset
- Any other set up suggests uncertainty, caution is therefore recommended
These are some cases that you could experience while using this script:
1) Bearish Volatility set up on a daily timeframe:
In this example using SPY, when its Volatility is Bearish Trend on a daily timeframe, the price of SPY tends to appreciate
2) Bullish Volatility set up on a daily timeframe:
In this example using SPY, when its Volatility is Bullish Trend on a daily timeframe, the price of SPY tends to depreciate
We hope that you will find these explanations useful, please contact us by private message for access.
Enjoy!
DISCLAIMER: No sharing, copying, reselling, modifying, or any other forms of use are authorised. This script is strictly for individual use and educational purposes only. This is not financial or investment advice. Investments are always made at your own risk and are based on your personal judgement. Myfractalrange is not responsible for any losses you may incur. Please invest wisely.
NSDT Horizontal VWAPThis script plots VWAP as a horizontal line starting at the most recent candle and extending backwards for a period of 10 to make it easier to see. (default is 10 but can be changed to fit your needs)
You may only want to see where VWAP is currently and not need to see the entire day. Helps keep the chart clean.
Colors and line settings can all be modified.
You can show the original VWAP plot as well for reference.
What Is the Volume-Weighted Average Price (VWAP)?
The volume-weighted average price (VWAP) is a technical analysis indicator used on intraday charts that resets at the start of every new trading session.
It's a trading benchmark that represents the average price a security has traded at throughout the day, based on both volume and price.
VWAP is important because it provides traders with pricing insight into both the trend and value of a security.
Cumulative TICK Trend[Pt]Cumulative TICK Trend indicator is a comprehensive trading tool that uses TICK data to define the market's cumulative trend. Trend is shown on ATR EMA bands, which is overlaid on the price chart. Cumulative TICK shown on the bottom pane is for reference only.
Main features of the Cumulative TICK Trend Indicator include:
Selectable TICK Source: You have the flexibility to choose your preferred TICK source from the following options, depending on the market you trade: USI:TICK, USI:TICKQ, USI:TICKI, and USI:TICKA.
TICK Data Type: Select the type of TICK data to use, options include: Close, Open, hl2, ohlc4, hlc3.
Simple Moving Average (SMA): You can choose to apply an SMA on the calculated Cumulative TICK values with a customizable length.
Average True Range (ATR) Bands: It provides the option to display ATR bands with adjustable settings. This includes the ATR period, EMA period, source for the ATR calculation, and the ATR multiplier for the upper band.
Trend Color Customization: You can customize the color of the bull and bear trends according to your preference.
Smooth Line Option: This setting allows you to smooth the ATR Bands with a customizable length.
How it Works:
This indicator accumulates TICK data during market hours (9:30-16:00) as per the New York time zone and resets at the start of a new session or the end of the regular session. This cumulative TICK value is then used to determine the trend.
The trend is defined as bullish if the SMA of cumulative TICK is equal to or greater than zero and bearish if it's less than zero. Additionally, this indicator plots the ATR bands, which can be used as volatility measures. The Upper ATR Band and Lower ATR Band can be made smoother using the SMA, according to the trader's preference.
The plot includes two parts for each trend: a stronger color (Red for bear, Green for bull) when the trend is ongoing, and a lighter color when the trend seems to be changing.
Remember, this tool is intended to be used as part of a comprehensive trading strategy. Always ensure you are managing risk appropriately and consulting various data sources to make informed trading decisions.
Interactive trendline - Proximity Doji & 3LSThis script was developed with Blockhead305 (seriously talented) and uses 1) the Three Line Strike from The Moving Average as well as 2) an original doji script written for me and 3) the Interactive Trendline as developed by Blockhead305. The basic premise is that should a doji or Three Line Strike occur within a customizable ATR distance from your trendline, an on-chart notification will appear or you could set an alarm to warn you if this has happened.
How to set this up:
Step 1 - Find a a trend
Step 2 - Identify the candles that touches the trendline
Step 3 - Click on the indicator
Step 4 - Set the X1 and Y1 coordinates for the start of the trend
Step 5 - Set the X2 and Y2 coordinates for the last relevant candle of the trend
Step 6 - Write the number in the yellow box down (in this case 880)
Step 7 - Open the settings of the indicator
Enter the number from the yellow box into the box titled "Run" - Press "OK"
Step 8 - Chart should/could now show Buy/Sell Signals for the Dojis and/or Bullish or Bearish Three Line Strikes
Notes
1. If your trendline is bearish (X1/Y1 is higher than X2/Y2) only bearish signals will appear and vice versa
2. You can change the ATR multiples from trendline in the settings - I prefer 2 (which is also the default)
3. You can toggle Big Engulfing and/or Three Line Strike on or off (exact functionality as per The Moving Average functionality)
4. You can construct the type of doji you would like to see at the bottom of the settings screen - I prefer the following settings:
Dominant Wick Multiple - 2
Recessive Wick Multiple - 2
Body Multiple - 5
5. I place my SL above last high (shorts) or last low (longs) but could also use the trendline for this
6. I use TP with RRR off 1:2 but much more is obviously possible.
7. ONLY ONE INTERACTIVE TRENDLINE CAN BE USED ON THE SAME CHART
8. THE NUMBER IN THE YELLOW BOX IS RELEVANT TO THE TIMEFRAME THAT THE TRENDLINE WAS CREATED ON. IF YOU CHANGE
TIMEFRAMES IT WILL NOT WORK
Happy to receive constructive criticism and/or suggestions for improvements on the settings.
Auto Trend ProjectionAuto Trend Projection is an indicator designed to automatically project the short-term trend based on historical price data. It utilizes a dynamic calculation method to determine the slope of the linear regression line, which represents the trend direction. The indicator takes into account multiple length inputs and calculates the deviation and Pearson's R values for each length.
Using the highest Pearson's R value, Auto Trend Projection identifies the optimal length for the trend projection. This ensures that the projected trend aligns closely with the historical price data.
The indicator visually displays the projected trend using trendlines. These trendlines extend into the future, providing a visual representation of the potential price movement in the short term. The color and style of the trendlines can be customized according to user preferences.
Auto Trend Projection simplifies the process of trend analysis by automating the projection of short-term trends. Traders and investors can use this indicator to gain insights into potential price movements and make informed trading decisions.
Please note that Auto Trend Projection is not a standalone trading strategy but a tool to assist in trend analysis. It is recommended to combine it with other technical analysis tools and indicators for comprehensive market analysis.
Overall, Auto Trend Projection offers a convenient and automated approach to projecting short-term trends, empowering traders with valuable insights into the potential price direction.
Strongest TrendlineUnleashing the Power of Trendlines with the "Strongest Trendline" Indicator.
Trendlines are an invaluable tool in technical analysis, providing traders with insights into price movements and market trends. The "Strongest Trendline" indicator offers a powerful approach to identifying robust trendlines based on various parameters and technical analysis metrics.
When using the "Strongest Trendline" indicator, it is recommended to utilize a logarithmic scale . This scale accurately represents percentage changes in price, allowing for a more comprehensive visualization of trends. Logarithmic scales highlight the proportional relationship between prices, ensuring that both large and small price movements are given due consideration.
One of the notable advantages of logarithmic scales is their ability to balance price movements on a chart. This prevents larger price changes from dominating the visual representation, providing a more balanced perspective on the overall trend. Logarithmic scales are particularly useful when analyzing assets with significant price fluctuations.
In some cases, traders may need to scroll back on the chart to view the trendlines generated by the "Strongest Trendline" indicator. By scrolling back, traders ensure they have a sufficient historical context to accurately assess the strength and reliability of the trendline. This comprehensive analysis allows for the identification of trendline patterns and correlations between historical price movements and current market conditions.
The "Strongest Trendline" indicator calculates trendlines based on historical data, requiring an adequate number of data points to identify the strongest trend. By scrolling back and considering historical patterns, traders can make more informed trading decisions and identify potential entry or exit points.
When using the "Strongest Trendline" indicator, a higher Pearson's R value signifies a stronger trendline. The closer the Pearson's R value is to 1, the more reliable and robust the trendline is considered to be.
In conclusion, the "Strongest Trendline" indicator offers traders a robust method for identifying trendlines with significant predictive power. By utilizing a logarithmic scale and considering historical data, traders can unleash the full potential of this indicator and gain valuable insights into price trends. Trendlines, when used in conjunction with other technical analysis tools, can help traders make more informed decisions in the dynamic world of financial markets.
Volatility Adjusted ADX (VADX)I sincerely wish to express my heartfelt gratitude to the vast community of coders on TradingView who have previously crafted various Average Directional Index (ADX) scripts. Their innovative approaches have laid a solid foundation, and I'm incredibly grateful for their inspiring work. In essence, their accomplishments have ignited the creative spark that led to the development of the Volatility Adjusted ADX (VADX) script.
VADX is not your run-of-the-mill script. It distinguishes itself from the myriad of ADX indicators on TradingView due to its unique volatility-adjustment mechanism. The primary purpose of this script is to augment the ADX's ability to quantify trend strength by introducing a layer of sensitivity to volatility shifts through the Average True Range (ATR). The interaction between these two crucial market measurements is where the novelty lies.
While the standard ADX does an excellent job of diagnosing the trend's vigor, its evaluation can sometimes be skewed when markets oscillate between periods of high and low volatility. Integrating the ATR – a reliable indicator of market volatility – into the ADX calculation mitigates this limitation, resulting in a more robust, volatility-adjusted trend strength measurement.
The specifics of the mathematical adjustment, our secret ingredient, will remain undisclosed for proprietary reasons. Nevertheless, I assure you that it creates a dynamic and balanced interplay between the trend strength and volatility, enabling a more nuanced understanding of the market.
The VADX script is user-friendly and includes three main inputs: ADX Smoothing, DI Length, and ATR Length. The ADX Smoothing parameter refines the ADX calculation, DI Length determines the period for the Directional Movement System calculation, and the ATR Length sets the period for the Average True Range.
Using this indicator is as easy as pie. After adding it to your chart, VADX will manifest itself as a separate panel beneath your price chart. When the VADX is escalating, it indicates that the strength of the trend is intensifying. Conversely, a declining VADX suggests diminishing trend strength. Two horizontal lines at the 25 and 75 levels provide a simple interpretation guide – they denote weak and strong trend phases, respectively.
This robust indicator is adaptable and can be effectively applied across multiple markets - from stocks, forex, and futures to cryptocurrencies. It also delivers valuable insights on any timeframe. However, as with any new indicator, I highly recommend initial testing and optimization to match your unique trading style and objectives.
To wrap up, the VADX indicator sets itself apart with its novel volatility adjustment, a feature not commonly found in existing TradingView scripts. This distinctive capability affords traders a more comprehensive view of the trend's strength by accounting for market volatility, adding an extra layer of depth to traditional ADX interpretation. I sincerely hope that this script enriches your trading arsenal and assists you in navigating the market with enhanced precision. As always, happy trading!
Dynamic Fusion Oscillator (DFO)The Dynamic Fusion Oscillator (DFO) is a uniquely crafted trading indicator that amalgamates the power of the Relative Strength Index (RSI) and the Stochastic Oscillator into a single, comprehensive tool. It provides traders with a more nuanced analysis of market momentum and overbought or oversold conditions. The DFO's distinctiveness lies in its ability to leverage the strengths of both RSI and Stochastic Oscillator, offering a more robust reading of market conditions. Moreover, it does so by offering a weighted approach, which combines the standardized values of both indicators. This flexibility in adjusting the weight of each component enhances its adaptability to different market scenarios, making it a versatile tool in a trader's arsenal. The following sections will delve into the intricacies of the DFO, demonstrating its advantages, usage, and applicability across various market conditions.
Differences from Existing Scripts:
The Dynamic Fusion Oscillator (DFO) is unique from other trading indicators as it combines the strengths of two popular technical analysis tools: the Relative Strength Index (RSI) and the Stochastic Oscillator. This fusion results in a dynamic, weighted oscillator that provides a more comprehensive view of the market's momentum and overbought or oversold conditions.
Usage and Market Conditions:
DFO can be used across different markets, including stocks, forex, commodities, and cryptocurrencies. It is designed to perform well in varying market conditions - trending or ranging. However, like any other technical indicator, it is advised to use it in conjunction with other technical analysis tools and not rely solely on it for making trading decisions.
Importance of Combining RSI and Stochastic Oscillator:
The RSI and Stochastic Oscillator are both momentum indicators, but they have their individual strengths and weaknesses. The RSI excels at identifying overbought and oversold conditions, while the Stochastic Oscillator is adept at predicting price reversals. By combining these two into a single oscillator, we can benefit from the strengths of both while minimizing their weaknesses. This fusion results in a more robust indicator that offers better signal quality and reliability.
Input Explanations:
RSI Length : This determines the number of periods used to calculate the RSI. A smaller value will make the RSI more sensitive to price changes, while a larger value will smooth out the RSI line.
Stochastic Length, Smooth K, Smooth D : These are parameters for calculating the Stochastic Oscillator. Length is the observation period, Smooth K is the smoothing factor for the %K line, and Smooth D is the smoothing factor for the %D line.
RSI Weight, Stochastic Weight : These determine the weights of the RSI and the Stochastic Oscillator in the final calculation. Increasing the weight of one will make the oscillator more sensitive to that component.
Standardization Length : This is the number of periods used to calculate the moving average and standard deviation for standardization purposes.
MA Length : This determines the number of periods used to calculate the moving average of the oscillator.
Upper Band Value, Lower Band Value : These set the maximum and minimum values for the oscillator. Signals are generated when the oscillator crosses these thresholds.
Number of periods above the band for alert condition : This sets the number of periods the oscillator stays above the band to trigger an alert.
Alert Conditions:
Alerts are generated under the following conditions:
Bullish Signal : An alert is generated when the Moving Average (MA) crosses above the Oscillator. This can be seen as a potential bullish signal indicating an upward price trend.
Bearish Signal : An alert is generated when the MA crosses below the Oscillator. This can be seen as a potential bearish signal indicating a downward price trend.
Oscillator above/below upper/lower band : Alerts are also generated when the oscillator has been above the upper band or below the lower band for a specified number of periods. This could signal overbought or oversold conditions, respectively. These signals can help traders identify potential reversal points in the market.
These alerts can help traders by providing timely signals for potential trading opportunities. However, they should be used as part of a comprehensive trading strategy that also takes into account other technical and fundamental factors.
Ultimate Trend LineThe "Ultimate Trend Line" indicator, designed for overlay on financial charts, calculates and plots a global trend line. It works by first allowing users to input several parameters such as different lengths for up to 21 groups, a multiplier that defines the deviation from the linear regression line for calculating the upper and lower bands, and a color for the fill.
Using these inputs, it calculates the upper and lower bands for each length group based on a multiple of the standard deviation from the linear regression line. It then averages these bands to define the global trend line, which is plotted on the graph.
Although the code includes commented-out lines for plotting each individual upper and lower band, the indicator as it stands only displays the overall average trend line. The line's color and linewidth can be adjusted according to user preferences.
This indicator can be effectively used on both logarithmic and linear scales. This versatility allows it to be adaptable to various types of financial charts and trading styles, providing a flexible tool for users to assess and visualize trend patterns across different market conditions and time frames. It maintains its accuracy and relevance, regardless of the scale used, thus making it a comprehensive solution for trend line analysis in diverse scenarios.
It's important to note that the "Ultimate Trend Line" indicator requires a substantial amount of historical data to function properly. If insufficient historical data is available, the indicator may not display accurately or at all. This issue is particularly prevalent when using larger time units, such as weekly or monthly charts, where the available data may not stretch back far enough to satisfy the requirements of the indicator. As such, users should ensure they are operating on a time scale and data set that provides adequate historical depth for the reliable operation of this indicator.
Advanced Trend Channel Detection (Log Scale)The Advanced Trend Channel Detection (Log Scale) indicator is designed to identify the strongest trend channels using logarithmic scaling. It does this by calculating the highest Pearson's R value among all length inputs and then determining which length input to use for the selected slope, average, and intercept. The script then draws the upper and lower deviation lines on the chart based on the selected slope, average, and intercept, and optionally displays the Pearson's R value.
To use this indicator, you will need to switch to logarithmic scale. There are several advantages to using logarithmic scale over regular scale. Firstly, logarithmic scale provides a better visualization of data that spans multiple orders of magnitude by compressing large ranges of values into a smaller space. Secondly, logarithmic scale can help to minimize the impact of outliers, making it easier to identify patterns and trends in the data. Finally, logarithmic scale is often utilized in scientific contexts as it can reveal relationships between variables that may not be visible on a linear scale.
If the trend channel does not appear on the chart, it may be necessary to scroll back to view historical data. The indicator uses past price data to calculate the trend channel, so if there is not enough historical data visible on the chart, the indicator may not be able to identify the trend channel. In this case, the user should adjust the chart's timeframe or zoom out to view more historical data. Additionally, the indicator may need to be recalibrated if there is a significant shift in market conditions or if the selected length input is no longer appropriate.
Artharjan Daily Weekly Price Trend IndicatorHi,
Artharjan Daily Weekly Price Trend Indicator is created to identify whether the current market price is with respect to previous Daily High and Low as well as Previous Weekly High and Low
If the price is above previous Day High a Green Square is plotted above the Candle, if the Price is inside the Previous Day Range then a Gray Square is Plotted above the Candle, and if the Price is below the previous day low then a Red Square is plotted above the candle.
Similarly If the price is above previous Week's High a Green Circle is plotted below the Candle, if the Price is inside the Previous Week's Range then a Gray Circle is Plotted below the Candle, and if the Price is below the previous Week's low then a Red Circle is plotted below the candle.
The idea here is to identify the trend, trend changes (Reversals) and initiate either a long or short positing purely based on price action.
For illustration purpose, If suppose you have entered the trade when you see a Green Square above and a Green Circle Below, hold on to the trade as long as the Green circle below does not turn into a Red Circle. It means the Weekly trend is Bullish and Daily trend may change more frequently, but you may hold on to your position unless and until the weekly Trend changes.
Also if may help to Book your profits in a timely manner, lets say you are in a long trade and you keep seeing Green Square at the top of the candle, the moment you see a Gray or a red Square at the top you may exit your long position. Obviously trader needs to use his brains to enter a position at right location on the chart and ride that position using this indicator.
I hope everyone would find this simple indicator very useful.
Regards
Rahul Desai
@Artharjan
SuperBollingerTrend (Expo)█ Overview
The SuperBollingerTrend indicator is a combination of two popular technical analysis tools, Bollinger Bands, and SuperTrend. By fusing these two indicators, SuperBollingerTrend aims to provide traders with a more comprehensive view of the market, accounting for both volatility and trend direction. By combining trend identification with volatility analysis, the SuperBollingerTrend indicator provides traders with valuable insights into potential trend changes. It recognizes that high volatility levels often accompany stronger price momentum, which can result in the formation of new trends or the continuation of existing ones.
█ How Volatility Impacts Trends
Volatility can impact trends by expanding or contracting them, triggering trend reversals, leading to breakouts, and influencing risk management decisions. Traders need to analyze and monitor volatility levels in conjunction with trend analysis to gain a comprehensive understanding of market dynamics.
█ How to use
Trend Reversals: High volatility can result in more dramatic price fluctuations, which may lead to sharp trend reversals. For example, a sudden increase in volatility can cause a bullish trend to transition into a bearish one, or vice versa, as traders react to significant price swings.
Volatility Breakouts: Volatility can trigger breakouts in trends. Breakouts occur when the price breaks through a significant support or resistance level, indicating a potential shift in the trend. Higher volatility levels can increase the likelihood of breakouts, as they indicate stronger market momentum and increased buying or selling pressure. This indicator triggers when the volatility increases, and if the price is near a key level when the indicator alerts, it might trigger a great trend.
█ Features
Peak Signal Move
The indicator calculates the peak price move for each ZigZag and displays it under each signal. This highlights how much the market moved between the signals.
Average ZigZag Move
All price moves between two signals are stored, and the average or the median is calculated and displayed in a table. This gives traders a great idea of how much the market moves on average between two signals.
Take Profit
The Take Profit line is placed at the average or the median price move and gives traders a great idea of what they can expect in average profit from the latest signals.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
