Distance from Vwap// How it Works \\
Measuring the distance of the close price from a higher timeframe VWAP - Volume Weighted Average Price
There is a threshold which is calculated by looking back at the previous x amount of bars and storing the highest/lowest values
If the distance from the vwap stretches above that threshold, the histogram will go green if price is above VWAP and red if its below the vwap
If the distance from the vwap reaches below the low threshold you will see the histogram flashes orange
// Settings \\
In the settings you have the ability to change what timeframe the indicator is calculated on, as well as this you can change the timeframe the VWAP is calculated on.
I always recommend using a higher timeframe vwap as they tend to me more respected
e.g on the hourly timeframe, I use the weekly VWAP, on 1 minute timeframe you may want to use 4 hour timeframe but obviously feel free to experiment
// Use Case \\
When histogram is flashing green, prices is pulling far away from the vwap, obviously you don't want to be buying a falling knife but if you have levels of confluence this can help spot reversals.
I personally wait until the first candle after its been green to get confirmation of the fall weakening. Vica versa for reds and shorts/sells.
When you see orange flashes, this shows that price has been consolidating and the price is very close to the higher time frame VWAP which could be considered a safe entry point as they tend to lead to a big move to follow
// Suggestions \\
Happy for anyone to make any suggestions on changes which could improve the script,
// Terms \\
Feel free to use the script, If you do use the script could you please just tag me as I am interested to see how people are using it. Good Luck!
Trend
Sonic ToolMade the indicator much simpler to use, that means I removed some functions..
Removed:
- Ability to choose what signals are based on (up/down color are still changeable in style tab, just not the signal labels)
- Offset
- Ability to fill ma's to candles
- High/Low closing source
Added:
- Baseline fill
- Background
- Option to choose repaint or not
Plots the high and low of your chosen moving average.
Options are:
SMA = Simple Moving Average
EMA = Exponential Moving Average
WMA = Weighted Moving Average
HMA = Hull Moving Average
VWMA = Volume Weighted Moving Average
RMA = Exponetial Weighted Moving Average
ALMA = Arnaud Legoux Moving Average
Unbox "Use Current Timeframe" to use chosen timeframe below
I mainly use this to get in and out of the market for futures trading, to reduce fake outs of having just one moving average line.
Let me know if you like it..
TICK Scalping strategy, SPY 1 min1 min chart scalping version of my other TICK strategy with adjusted parameters and additional entry and exit conditions better suited for 1 min SPY chart. Please refer to my original TICK strategy for explanation.
Important notes:
1. This strategy is designed for same day SPY option scalping on the 1 min chart . All profit shown in back testing report is based on Profit/Loss (P/L) estimates from trading options with approximately 6 weeks of data. By default, it is set to 10 option contracts. By default the initial capital is set to $5000. Pyramiding is set to 3.
2. This strategy works better with non-extended market data .
3. This strategy is mainly developed for SPY trading on 1 min chart, it probably will not be very profitable with other tickers or time frame without tweaking all the parameters first.
Cheers and enjoy~! Let's all make money~!!
TICK strategy for SPY optionsImportant notes:
1. This strategy is designed for same day SPY option scalping. All profit shown in back testing report is based on Profit/Loss (P/L) estimates from trading options with approximately 6 months of data. By default, it is set to 10 option contracts. By default the initial capital is set to $5000. Pyramiding is set to 3.
2. This strategy works better with non-extended market data.
3. This strategy is mainly developed for SPY trading on 5 min chart, it probably will not be very profitable with other tickers or time frame without tweaking all the parameters first.
4. This strategy will work with QQQ as well, but please adjust the profit multiplier to match the P/L of QQQ options.
How it works:
When trading the indices, many rely on the TICK for market directions. This strategy is a trend following strategy that uses a combination of conditions using the following indicators:
- TICK
- RSI
- VIX volatility index
- EMA
For entries, the conditions are:
1. TICK moving average crossover with a delayed signal line
2. Bullish or bearish RSI signal, RSI > 50 for bullish, < 50 for bearish
3. VIX must be above a certain threshold to take advantage of high market volatility
4. Price must be on top of EMA line for long, and below for short
For exits, there are 3 scenarios:
1. Stop loss set by a percentage of the daily ATR value
2. Trend changes on the TICK and the RSI
3. Bearish or bullish divergence on price with TICK
This strategy automatically signal to close all trades at 3:50 pm EST at the end of the day.
Extras:
- There is an option to show P/L for reinvesting profits
Enjoy~!!! Let's all make $$$
RSI, EMA, SMA Trendtrading - Oil Daytrading 1HThe Unitrend trading System produces trading recommendations on a pure Trend basis.
It is a Score based system.
--- How to use the System --
Simply adjust your capital you want to risk per trade and your TP Factor.
The TP Factor is the multiple of your risked Capital, also known as Risk/Reward ratio.
Furthermore you can toggle between a always Buy mode, to see if the System is better then market.
Compounding mode helps you to get a better understanding of your maximum drawdown with a total equity based approach.
--- How are Signals produced? ---
A score of 2 or 3 is a BUY signal.
You can count the score by looking at the lines above 1, or by reading the color.
Green is 3, yellow 2, orange 1 and red is 0.
The score is calculated by 3 conditions.
Each applying condition yields one point for the score.
The score resets each bar.
The rules are:
RSI > 45: Well known indicator, usually looks for reversal points but seems to produce above average results when above 45.
EMA(RSI) > SMA(RSI): My approach to momentum detection for the RSI movement, I consider a faster growing RSI as a good thing.
EMA(close) > SMA(close): My approach to trend detection for the market movement. Common Wisdom would be a fast SMA > slow SMA which I found to be too slow for the modern market.
Unicorn Quant Strategy [Astride Unicorn]Deeply customizable trading algorithm with instant back-testing. Its position management and trading signals engines emulate every step of the trading process and display all the actions on the chart. For example, the algorithm shows when to enter or partially close a position, move stop-loss to breakeven, etc. The trader can use these signals in their decision-making and replicate these actions in their trading terminal. The script can also send real-time alerts to the user’s Email.
The trading signals feature calculates entry signals for momentum and trend trading. The calculation is based on trend filtering using our custom filter based on rolling historical volatility. The historical volatility is used to distinguish the market regime and determine the current trend direction. In its calculations, the algorithm uses linear regressions instead of averaging. As our practice shows, it helps to reduce signal lag while keeping the number of false signals low.
HOW TO USE
Set stop-loss and up to three take-profit levels, choose rules for moving the stop-loss level, adjust sensitivity of the entry signals and see the back-test result immediately. If the performance of the strategy satisfies you, proceed with the forward-testing or live-trading.
When using this script, please, keep in mind that past results do not necessarily reflect future results and that many factors influence trading results.
SETTINGS
Use Starting Date - when the flag is turned off, the algorithm uses all available pricing data to calculate back-tests; when turned on, back-tests start from a starting date the user can select in the setting below.
Starting Date - sets a starting date for back-testing.
Trading Signals
Trade Length - defines the length of the trades the algorithm tries to calculate entry signals for. Recommended values are from 1.0 to 6.0.
Sensitivity - controls the sensitivity of the trading signals algorithm. The sensitivity determines the density of trading signals and how close the trailing-stop levels follow the price. The higher the value of this parameter is, the less sensitive the algorithm is. High values of the Sensitivity parameters (100-500) can help to withstand large price swings to stay in longer price moves. Lower values (10-100) work well for short- and medium-term trades.
Signals Type - In the Signals Type dropdown list, there are two options: Market Timing and Market Bias. Market timing is a type of trading signaling when the algorithm tries to find a perfect moment to enter and exit a trade. Market Bias is the type of trading signaling when the algorithm tries to be in a position all the time. When a trade is closed, the algorithm determines a direction to which the market is currently “biased” and immediately opens a trade in this direction.
Position Management
SL - sets stop-loss level measured as a percentage of the trade entry price
TP1, TP2, TP3 - sets take-profit levels measured as a percentage of the trade entry price
Close % at TP1, Close % at TP2, Close % at TP3 - Sets portions of the open position(as a percentage of the initial order size) to close at each of the TP levels
At TP1 move SL to, At TP2 move SL to - Sets the rules for moving stop-loss level in an open trade to protect the floating profit
Dashboards
Active Position Information - turns on/off a dashboard that shows the current SL and TP levels for the active position.
Recommended SL,TP Settings - turns on/off a dashboard that shows recommended settings for the SL and TP levels.
HODL LINE [AstrideUnicorn]This indicator determines periods of bull market when a buy-and-hold investor can hold the asset, and bear market periods when they should avoid holding it. Though it was designed primarily with cryptocurrencies in mind, it can be successfully used for any market.
Technically, the indicator is an asymmetric trend filter aimed to account for the fact that market sell-offs tend to be sharper than up-trends. The algorithm has two regimes – with and without price smoothing.
HOW TO USE
The step-like line is the main trend filter. It is colored green in an uptrend and red in a downtrend. When the smoothing is on, in addition to the trend filter, the indicator plots a purple line. It is a Hull Moving Average (HMA) of the price. In this case, the indicator uses this line instead of the price to find crossings with the trend filter.
When the price or the smoothed line crosses the trend filter above, it is an uptrend signal. The indicator marks such crossings with green circles. It also colors the chart background green in an uptrend. The price or the purple line crossing the trend filter below means a downtrend signal. Downtrend signals show as red circles. The chart background in a downtrend turns red.
SETTINGS
Sensitivity – a dropdown list that allows the user to choose an averaging period of the indicator. Users can select a value for sensitivity from a predetermined set that better suits their investment horizon.
Use Smoothing – turns on and off smoothing of the price with HMA. With the smoothing turned on, the indicator responds slower to price changes, but at the same time produces less amount of false signals.
AlphaTrendAlphaTrend is a brand new indicator which I've personally derived from Trend Magic and still developing:
In Magic Trend we had some problems, Alpha Trend tries to solve those problems such as:
1-To minimize stop losses and overcome sideways market conditions.
2-To have more accurate BUY/SELL signals during trending market conditions.
3- To have significant support and resistance levels.
4- To bring together indicators from different categories that are compatible with each other and make a meaningful combination regarding momentum, trend, volatility, volume and trailing stop loss.
according to those purposes Alpha Trend:
1- Acts like a dead indicator like its ancestor Magic Trendin sideways market conditions and doesn't give many false signals.
2- With another line with 2 bars offsetted off the original one Alpha Trend have BUY and SELL signals from their crossovers.
BUY / LONG when Alpha Trend line crosses above its 2 bars offsetted line and there would be a green filling between them
SELL / SHORT when Alpha Trend line crosses below its 2 bars offsetted line and filling would be red then.
3- Alpha Trend lines
-act as support levels when an uptrend occurs trailing 1*ATR (default coefficient) distance from bar's low values
-conversely act as resistancelevels when a downtrend occurs trailing 1*ATR (default coefficient) distance from bar's high values
and acting as trailing stop losses
the more Alpha Trend lines straighter the more supports and resistances become stronger.
4- Trend Magic has CCI in calculation
Alpha Trend has MFI as momentum, but when there's no volume data MFI has 0 values, so there's abutton to change calculation considering RSI after checking the relevant box to overcome this problem when there is no volume data in that chart.
Momentum: RSI and MFI
Trend: Magic Trend
Volatility: ATR,
Trailing STOP: ATR TRAILING STOP
Volume: MFI
Alpha trend is really a combination of different types...
default values:
coefficient: 1 which is the factor of trailing ATR value
common period: 14 which is the length of ATR MFI and RSI
Wish you all use AlphaTrend in profitable trades.
Kıvanç Özbilgiç
Anchored TWAP with StDev Bands [MrShadow]TWAP with:
- Anchoring: Custom, Day, Week, Month, Quarter, Year (custom anchoring can be selected by dragging a vertical line through the chart)
- Standard Devation Bands
- Auto-coloring depending on the trend
Pivot Trend LevelsYou can use this indicator to detect the levels and trend.
I used the highest of the two last highest pivots and the lowest of the two last lowest pivots to calculate "max" and "min" or high level or low level.
I also calculate the average of the 4 values to reach the average line which could be a trend detector in higher lengths.
Default length is 3 but using 10 or 20 as length is really good as trending detector.
I need help to upgrade a trend detector system. please read the script for more information.
Thank you so much.
[UPRIGHT Trading] Trend Direction Force Index (TDFI)The Trend Direction Force Index, TDFI or TDF Index, is a staple in the Forex community, but is excellent on most asset (i.e. stock) trading.
Developed by Pyotr Wojdyo for metastock trading platform originally, but now on several other.
The idea of the TDFI is that there is enough trend directional force to enter the trade.
How it works:
When the signal is above the high threshold, the trader can go long.
When the signal is below the low threshold, the trader can go short.
It's usually used as confirmation along with another indicator.
Features:
Fully customizable
Built-in color changing
Alerts!
If you like this, you will definitely like what else I've published.
Like, follow, support, etc.
Enjoy.
Cheers,
Mike
(UPRIGHT Trading)
Triple ThreatThis indicator provides buy and sell signals for Bitcoin based on confluence from well-known momentum, volatility, and trend indicators. It has successfully captured the major directional trends on Bitcoin's daily chart since 2018, and the settings are currently optimized for this chart in particular. This indicator implements RSI to gauge momentum, BBWP to gauge volatility, and an EMA to gauge trend. Maximum confluence signals are represented by horizontal bars in the indicator's pane, where the tallest green bar is a confirmed buy signal, and the tallest red bar is a confirmed sell signal. The shortest bar represents a momentum-only signal, and the second-shortest bar represents a volatility signal in confluence with the previously given momentum signal.
To track momentum, the RSI is plotted to the indicator plane against a moving average of the RSI. A momentum signal is generated when the RSI crosses over its moving average, retests/approaches the moving average, and then continues in the crossover direction (i.e., it fails to cross the moving average to the opposite side, creating a successful retest). The settings that affect this trigger are the "Crossover Threshold," which specifies how much the RSI should exceed the moving average to be considered a crossover, and the "Retest threshold," which specifies how closely the RSI should approach the moving average to be considered a retest. A momentum signal is ALSO generated if the RSI or its moving average exceed their counterpart by a certain threshold. For example, if the threshold was set at 10, a BUY signal would be generated when the RSI exceeds the moving average by 10, or a SELL signal would be generated when the moving average exceeds the RSI by 10. This threshold can be set using the "Instant Signal Threshold" setting. Either type of momentum signal will be plotted on the pane as the shortest horizontal bar, with its color indicating the signal's direction.
Volatility is primarily measured using the Bollinger Band Width Percentile (BBWP) indicator, which was created by The_Caretaker. BBWP plots the volatility of the asset's price, given by Bollinger Band width, relative to past volatility by assigning the volatility readings into percentiles. The indicator also includes a moving average of the BBWP itself, where a crossover to the upside represents expanding volatility and a crossover to the downside represents contracting volatility. This indicator is used to confirm a signal given by the momentum indicators - a momentum signal that is given during a period of expanding volatility has a greater likelihood of success. Therefore, when the BBWP crosses above its moving average by a given threshold, a previously triggered momentum signal is considered to be "confirmed." The threshold for this crossover can be set using the "BBWP Confirmation Threshold" setting. However, it is also relevant that periods of extreme volatility often accompany an extremity in price action (a "top" or "bottom"), in which case the BBWP is likely to contract after price reaches such an extremity. This phenomenon is captured by also using "extreme reads" on the momentum indicator to signal that there has already been enough volatility to confirm a momentum signal. If the RSI gives an "extreme read" before triggering a signal, the momentum signal is also considered to be confirmed. For example, if the RSI is above 80, breaks below 80, and then gives a SELL signal, this sell signal is considered to be confirmed without requiring the BBWP to crossover its moving average to the upside. The threshold that would confirm a SELL signal can be set with the "Overbought" setting, and the threshold that would confirm a BUY signal can be set with the "Oversold" setting. Whenever a volatility signal confirms a momentum signal, a medium-sized horizontal bar will be plotted on the pane in the same directional color as the momentum signal. Note that a momentum signal may trigger at the exact same time as the volatility signal which confirms it; in this case, only the medium-sized bar will be visible on the pane, but its direction can still be identified by its color.
Lastly, to reduce the likelihood of "false signals," a trend indicator is used to confirm the direction of the signal. This is typically an exponential moving average. If a confirmed volatility SELL signal is given, and the closing price is below the moving average, then the SELL signal is also confirmed by the trend. Likewise, if a confirmed volatility BUY signal is given, and the closing price is above the moving average, then the BUY signal is confirmed by the trend. The type and length of the moving average used to verify the trend can be set using the "Moving Average Type" and "Moving Average Length" settings found below the momentum/volatility settings. A trend signal is plotted on the pane as a tall horizontal bar, and is more deeply colored than the momentum and volatility signals.
For maximum confluence, it is recommended that the trend signal, given by the tallest bar, is the one that forms the basis of trades executed while using the Triple Threat indicator. It is possible to enter more aggressive trades with better entries by using only the volatility signal, given by the medium-sized bar, however this entails greater risk and should only be done in confluence with an additional trading strategy of your own discretion. Backtesting has shown that using the volatility signal alone underperforms using the volatility signal in confluence with the trend signal.
Please also be advised that the default setting are optimized for Bitcoin's daily chart only. The indicator is still applicable to other timeframes and asset classes, but the settings may need to be modified. I have a list of settings for other Bitcoin timeframes, and I would be happy to share them upon request.
I hope you can find this indicator to be of some use to your trading strategies. I'd be happy to hear any feedback from the community, so please don't hesitate to reach out. Stay safe, and happy trading.
Trend Trading with Currency Strength MeterThis is a trend trading strategy designed mainly for forex made of two big components:
First we have the currency meter, which is made of taking TSI of different INDEXes such as EUR, USD, GBP, JPY, NZD, AUD , CHF and CAD.
Once we establish which one is the weakest and most powerful, we pair them together and we go on that chart.
Lastly we check with the EMA 200 to confirm our direction.
We can see in this example for the USDJPY chart, that USD is the strongest, JPY is the weakest and ema confirm our bullish trend.
For timeframe in general I recommend big timeframes, 1-4h+ , and as a mentality a swing trading mentality, we can stay in trade for days/weeks.
For exit in general I recommend to exit when either one of the pairs losses/gain power or when the EMA is crossing with current candle
If you have any questions, let me know !
Market structure intraday ES futures strategy - BuySell ZonesThis market structure strategy for ES Mini Futures optimized for intraday market analysis ( RTH ).
Entry condition identified by bearish and bullish market structure.
Support level (Green Lines) is identified based on different variations of price fluctuations followed by the close above the range.
Resistance level (Red Lines) is identified based on different variations of price fluctuations followed by the close below the range.
The idea is to spot areas where market players were fighting for the best price and one side finally won.
Bullish trend is identified by consecutive series of support levels developing in upside direction.
Bearish trend is identified by consecutive series of resistance levels developing in downside direction.
When market develops bullish trend , strategy sets LONG limit order at fresh support level .
When market develops bearish trend , strategy sets SHORT limit order at fresh resistance level .
If there is an open position no new entries are performed.
For longs initial stop is set at previous support level adjusted by ATR.
For shorts stop is set at previous resistance level adjusted by ATR.
Stop trailing is also based on market structure.
If new support level is identified, stop moves to previous support level .
If new resistance level is identified, stop moves to previous resistance level .
There are no target. Strategy either gets stopped at current stop level or exits at session end.
Strategy calculates position size based on the previous market structure and ATR.
Strategy performs compounding position sizing so as account amount increases so does amount of traded contracts.
Usage:
Add script to your favorites and apply it on ES1! 1 minute time frame setting regular trading hours.
Script will print the limit order as well as stop levels according to the rules described above. As trade will progress, script will print levels to move the stop to.
Settings:
I added an option to disable the support and resistance lines printing if you prefer to have clean charts.
You can also change risk % to best fit your trading style.
If you just want to use the support and resistance levels as indicator you can also disable the strategy execution.
Support and Resistance indicator itself is universal and can be used on any market or timeframe.
If you want the strategy to be optimized for other markets or timeframes or have other rule set in mind feel free PM me, we will create the solution that best fits your needs and styles.
Real life trading is not get rich scheme. It is continuous process that involves various steps and dedication. If you are willing to take this path please PM me to enable the strategy for you.
Enjoy!
[_ParkF]FractalTop gray line is the fractal resistance.
Bottom gray line is the fractal support.
Central red line is the average of the top&bottom fractal.
Fractals can be displayed as support and resistance, and the red fractal average line indicates a trend.
상단 회색선은 프랙탈 저항,
하단 회색선은 프랙탈 지지,
중앙 빨간선은 프랙탈 상,하단의 평균,
프랙탈은 지지와 저항으로 표시되고 빨간색 프랙탈 평균선은 추세입니다.
Signals Pirate™ Market ScreenerSignalsPirate™ Market Screener provides users with the ability to quickly and easily check the current trend of up to 40 different assets on any timeframe! With a simple ‘Bullish’ or ‘Bearish’ trend easily defined using accurate and reliable calculations, this tool could massively cut down the amount of time your TA takes!
The main Input options are 'Reactivity' and 'Depth', which allow for a dynamic trend following strategy that works on all time frames and assets. Using these values the strategy will print the bundles main ‘Buy’ and ‘Sell’ signals to try and identify the trend early and accurately. Their main functions are to dynamically calculate volatility and current trend direction – but we’ve gone more in-depth below!
Reactivity:
Reactivity controls how quickly the Algo reacts to changes in trend. This part of the bundle takes into account the Average True Range (ATR) to gauge current market volatility and direction of the trend. Lowering the reactivity value will generate quicker reaction times of the algorithm as it will lower the threshold of volatility required for a signal to be generated. Therefore, it’ll show trades more frequently.
Depth:
Depth controls the position of the signals according to the trend swing. Calculated using a variation of the Average Direction Index (ADX) to measure the changes in prices over a given period, when running parallel to the Reactivity volatility filter the trend can be identified quickly and accurately on any given time frame or asset. Higher Depth will allow for less frequent and slower entries. In contrast, lower Depth will give more frequent and earlier entries.
The default settings are the best settings we’ve found so far but you can change them to build your own unique trading strategy. We’d recommend experimenting with these values to find the best results for the asset you are trading, and your own personal trading and investing style.
Direction for use:
1. Use on any asset class and time frame and add the tickers of any asset you want included in the screener.
2. Fine tune the Reactivity (volatility) and Depth (trend sensitivity).
3. Consider longing assets that appear in the ‘Bullish List’ after candle close, and consider shorting assets that appear in the ‘Bearish List’ after candle close.
4. Exit positions once an asset has switched from one list to the other.
As mentioned previously, this Market Sceener uses a trend base system that dynamically operates to function with superior accuracy regardless of what you’re trading. But with the level of customisation available, this can easily be fine tuned to accommodate scalping, reversal trading, or even long term investing.
We hope you love this Screener, and it takes your trading and investing to the next level. Please let us know if you have any questions or queries regarding the logic behind the bundle, or if you have any suggestions for improvements etc. We love your feedback and are constantly striving to continuously improve!
Birdie AbelForxThis script indicates a breakout of the "diagonale Line" to show potential Day trading or Swing entries.
Timeframe : H1 or M30
Pairs : Forex, Index, Crypto
Insight :
The purpose of this indicator is to determine areas of reversal or beginning of trend.
Every day at 11:00 p.m. (Paris Time), the daily horizontal level is determined by a vertical line.
The trader will then have to draw the diagonal from the horizontal level of the day before to the level of the new horizontal level by anticipating it until 11:00 p.m. (Paris time)
Thus we will have a diagonal for the day which will serve as an entry trigger if the price crosses and closes beyond this diagonal. During the day the horizontal level will progress at the same time as the weather until 11:00 p.m. (Paris Time)
If you configure a trade entry, the SL level is determined by the horizontal level of the same day.
For swing trading, the SL can follow the price by placing itself each day (above for a sell / below for a buy) of the daily level so as to act as a daily trailing stop.
As long as the price is above the diagonal and the daily level, we remain in an uptrend.
As long as the price is below the diagonal and the daily level, we remain in a downtrend.
TRADING MADE SIMPLEThis indicator shows market structure. The standard method of using Williams Highs and Lows as pivots, is something of an approximation.
What's original here is that we follow rules to confirm Local Highs and Local Lows, and strictly enforce that a Low can only follow a confirmed High and vice-versa.
-- Highs and Lows
To confirm a candle as a Local High, you need a later candle to Close below its Low. To confirm a Local Low, you need a Close above its High.
A Low can only follow a High (after it's been confirmed). You can't go e.g High, High, Low, Low, only High, Low, High, Low.
When price makes Higher Highs and Higher Lows, market structure is said to be bullish. When price makes Lower Lows and Lower Highs, it's bearish.
I've defined the in-between Highs and Lows as "Ranging", meaning, neutral. They could be trend continuation or reversal.
-- Bullish/Bearish Breaks
A Bullish break in market structure is when the Close of the current candle goes higher than the previous confirmed Local High.
A Bearish Break is when the Close of the current candle goes lower than the most recent confirmed Local Low.
I chose to use Close rather than High to reduce edge case weirdness. The breaking candle often ends up being a big one, thus the close of that candle can be a poor entry.
You can get live warnings by setting the alert to Options: Only Once, because during a candle, the current price is taken as the Close.
Breaks are like early warnings of a change in market bias, because you're not waiting for a High or Low to be formed and confirmed.
Buy The Dip / Sell The Rally
Buy The Dip is a label I gave to the first Higher Low in a bullish market structure. Sell The Rally is the first Lower High in a bearish market structure.
These *might* be good buying/selling opportunities, but you still need to do your own analysis to confirm that.
== USAGE ==
The point of knowing market structure is so you don't make bullish bets in a bearish market and vice versa -
or if you do at least you're aware that that's what you're doing, and hopefully have some overwhelmingly good reason to do so.
These are not signals to be traded on their own. You still need a trade thesis. Use with support & resistance and your other favourite indicators.
Works on any market on any timeframe. Be aware that market structure will be different on different timeframes.
IMPORTANT: If you're not seeing what you expect, check your settings and re-read this entire description carefully. Confirming Highs and Lows can get deceptively complex.
MTF MACD (PPO) [TANHEF]Mult-Timeframe Moving Average Convergence Divergence (MACD) and Percentage Price Oscillator (PPO) indicator that allows for viewing of 1 to 5 different Timeframes.
Brief Summary
The primary benefit of multi-timeframe indicators is getting better entries and confirmation from viewing multiple time frames at once, which can often get overlooked.
MACD shouldn't be only used by itself, it is a lot more consistent when applied in the same direction as the trend as well as multiple other things including support, resistance, and volume improve the outcomes of the MACD results.
Personally, I look for good entries on higher and lower time frames (multiple timeframes must agree with the buying or selling). For example, if a higher timeframe looks like a good long entry (MACD line is crossing up and below the zero line), then the lower timeframes should be checked to ensure they are not oversold or overextended (the MACD line must be low or below the zero), once the lower and higher timeframes are in agreeance an entry can be made.
What is Moving Average Convergence Divergence (MACD)?
Moving average convergence divergence (MACD) is a trend-following momentum indicator that shows the relationship between two moving averages of the price. The MACD is calculated by subtracting the 26-period exponential moving average (EMA) from the 12-period EMA.
What is the Percentage Price Oscillator (PPO)?
The PPO is identical to the MACD indicator, except the PPO measures percentage difference between two EMAs, while the MACD measures absolute (or dollar) difference. The PPO has the advantage of being comparable to other assets with different prices, whereas MACD readings are not comparable. For example, regardless of the asset's price, a PPO result of 10 means the short-term average is 10% above the long-term average.
A signal line can be displayed on Timeframe, including:
- MACD & Signal Line crosses (Green when MACD above Signal Line and Red when MACD below Signal Line)
- Histogram Direction (fast and slow EMA gap)
- SuperTrend for identifying trend direction (green for uptrend, red for downtrend)
- EMA Trend for identifying trend direction (above EMA = up trend and green, below EMA = down trend and red)
Cross Dots and Potential cross dots
- Green Dot, is displayed when the MACD crosses the Signal Line
- Red Dot, is displayed when the MACD crosses the Signal Line
- Yellow Dot. Potential cross up (green dot) on next bar. Displayed when if the same distance a MACD moves on a bar is applied to the next bar will cause a MACD and Signal Line Cross. This is calculated by checking if the value change of one bar is added to the current MACD value would lead to a cross on the next bar, the it is a potential up dot.
- Purple Dot. Potential cross down (red dot) on next bar. Displayed when if the same distance a MACD moves on a bar is applied to the next bar will cause a MACD and Signal Line Cross. This is calculated by checking if the value change of one bar is added to the current MACD value would lead to a cross on the next bar, the it is a potential down dot.
Best Fit Settings
- Can be applied to the MACD, Signal Line, and Histogram to re-scale (stretch) to fit them within the space of the +2 and -2 range that each timeframe is provided on this indicator.
- The lookback distance value is used to lookback a certain distance to ensure everything scaled to fit well.
Labels are displayed on the right of the indicators, including:
- a label identifying 'line indicator' is currently being displayed
- the Timeframe corresponding to each MACD or PPO indicator
- the MACD or PPO of each Timeframe
[UPRIGHT Trading] Awesome STC+Hello Traders,
I hope you all are doing well.
Today I'm releasing another one of my favorites: the Schaff Trend Cycle (STC). In 2008, Doug Schaff publically released the STC as an improvement on cycle oscillators and the MACD, hence its common nickname, "The better MACD."
This oscillator is essentially a fusion of the benefits of trend and cycle indicators; the idea is to minimize their drawbacks, such as lags or false signals. The STC is mainly used to determine or confirm price direction and market reversals.
We calculate the STC as a double smoothed stochastic of the MACD, which outputs an oscillator that moves between 0 and 100.
How is it typically used?
In trending markets, we can expect the oscillator to move up if the market is in the accelerating uptrend and an accelerating downtrend are to push the oscillator down.
In sideways markets, the STC shows oversold when it reverses after falling below 25; overbought when the STC turns down from above 75.
How the Awesome STC+ is different:
This STC uses several complex equations and filters to improve accuracy and reduce lag.
My original STC wave.
Multiple extremely accurate Buy/Sell signals not found on a traditional STC indicator.
Ability to use 4 different background highlights and several buy/sell and confirmation signals.
Fully customizable (as always), ability to turn on or off any signals, change any of the colors to suit your needs.
Pre-filled Alerts.
Reversals and Continuations.
Chart should look like this:
Please see the "Author's Instructions" for access.
Cheers,
Mike
(UPRIGHT Trading)
#JJ Trend
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Hey there!
The indicator is used for a rough trend assessment. Both superordinate structures and subordinate movements are mapped here. With the help of a calculation via Ema and MACD , different timeframes can be displayed in the same chart. This makes the multi-timeframe analysis extremely easy.
On all Asset classes!
The indicator is for the m5 / m15 chart. In addition, the display can be adapted using the options and set to any timeframe.
Caution: Past results do not guarantee future profits!
Follow the link below to get access to this indicator or get us a PM to get access.
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Willkommen!
Der Indikator dient für eine grobe Trendeinschätzung. Hierbei werden sowohl übergeordnete Strukturen als auch untergeordnete Bewegungen abgebildet. Mit Hilfe einer Berechnung über Ema und MACD lassen sich verschiedene Timeframes im gleichen Chart abbilden. Das erleichtert die Multi Timeframe Analyse extrem.
Für alle Asset Klassen!
Der Indikator ist für den m5 / m15 Chart ausgelegt. Zusätzlich kann die Anzeige über die Optionen angepasst werden und auf jede Timeframe eingestellt werden.
Achtung: Vergangene Ergebnisse garantieren keine zukünftigen Gewinne!
Verwenden Sie den folgenden Link, um Zugriff auf diesen Indikator zu erhalten oder schreibe uns eine PM um Zugriff zu erhalten.
Heikin-Ashi Candle ColoringThis script will change the color of normal candlesticks to the color that the corresponding Heikin-Ashi candles would have.
This allows to spot a trend or a trend reversal just by looking at candles, without using Heikin-Ashi candles, which distort the appearance of a typical chart.
[Excalibur] Pivoted Automatic Breakout Trend LinesPREAMBLE:
As I will elaborate further, lines and linearity are everywhere in the our thoughts, words, objects, and nature. For example, in our youth, drawing lines on paper, ascribing them in the dirt, and using them to perfect hand writing is common occurrences in life everyone has experienced. Our minds are uniquely adaptable to envision linearities in many natural or abstract objects, including facial geometry. That's how we easily recognize each other in person. For decades, along our path on roadways to and from our destinations, road lines have long safely guided us. Common phrases are "get in line", "walk the line", "line of duty", and "finish line" in English. Gazing upon the earth's line of horizon on calm wide open ocean standing upon the shoreline, it is easily visible and it has curvature. Sorry to break it to you flat earthers.
Multitudes of agreed upon lines define nationally recognized boundaries on maps for very specific reasons. Some lines are just simply not meant to be crossed and are purposefully intended to be respected. Even at the time of this original release, lines are being "crossed" on unimaginable and tragic scales, forming a trend of devastation of lives and livelihoods. On occasion in human history, border lines have to be redefined, especially when a godvernment no longer represents the WILL of a vast geographic majority of it's citizens. When puppet representatives and misleaders only have a self serving interest to put their citizens most treasured values, grievances, and souls in the grave, succession is a matter of last resort and it's often statistically speaking 101% necessary.
As an American, from my opinionated perspective assessing the situation, I welcome the ancestral people of Donetsk and Luhansk to the world stage, being independent to choose their own destinies and fates, because all that Ukraine wishes to do with them year, after year, after year is render them as subjugates or use them for target practice. And that isn't right! The way 2021+ is heading, by the year 2100 I suspect every continental map is going to have new lines on them.
LINES OF ANTIQUITY:
Many recorded instances throughout history detailing the use of lines, has endured centuries of time. The ancient origins and study of "Euclidean geometry" would have been performed scribbling in the ground, preferably in sand. The Greek mathematician Euclid of Alexandria, the founder of geometry, most probably spent a great deal of his life doing this in order to pass his bold ideas onto future generations.
Before Euclid's time, Spartans in the battle of Thermopylae drew their lines in the sand with their swords adhering to the infamous words "Molon Labe" (come and take ). These disciples of agoge, born and destined for rigorous entrainment were bound by duty, no retreat, no surrender. Hundreds of Spartan sigma males held the line for as long as they could for the security of their free peoples. In almost every case of Spartan history the imperative notion of holding the battle lines was absolutely necessary at all costs, regardless of the carnage delivered from their enemy adversaries, including the unrelenting hordes of invasion commanded by the tyrant Xerxes. ALL gave some on those days.
Over two millennia later, Colonel William Travis at the Alamo carved a line in the ground for able men to decide which side of history they would reside on. History has an awfully bad habit of repeating itself, as it is always told in forewarnment. Lines have always been pertinent, decisive, and always shall be. A world without lines, would make our grasp of understanding and existence nearly impossible to carry on civilization.
LINES IN MODERN TIMES:
The versatility of lines are every where imaginable in this 21st century. A short list of their applications are in art, design, engineering, architecture, demarcation, and they are always, always ever pervasive in computer graphics. Without a doubt, lines are now pinnacle to having the ability to make our charting possible in order to recognize trends. Here in this script's application I intended them to automatically reveal geometry, trends, and breakout zones.
When I originally encountered my discovery of TradingView's existence, the very first thing I was doing, was to naturally draw lines across the price action pivot points in search of identifiable opportunities. Three years later, I have now finalized my vision of automatically drawing an ample amount of them by harnessing the "Power of Pine" in version 5. As you will soon see, utilization of this script will reveal hidden geometry that is otherwise typically unforeseen.
SCRIPT FUNCTIONALITY:
Programmatically drawing lines on top of numeric chaos has been an arduous task, taking me over a year to stabilize this code to my liking. The possibilities of automatically drawing lines on market price action could in theory actually result into hundreds per chart pane. This script does have a limitation of 60 line segments/rays maximum. I have gone to great lengths to accomplish this feat, just to arrive at 60 per overlay indicator. Beyond that, I am experiencing limitations of Pine. Because of the amount of work required to finalize this indicator, this is one of my "Excalibur" indicators. I literally had to pull this code from the deepest recesses of my mind. I would classify this kind of indicator as a weapon of mass financial creation, so I'm offering it's availability to all members.
Segments/rays may be computationally drawn as far back as 5000 bars into the chart's history, but no more than that are to be expected. Only one line will occur from pivot point to pivot point. All duplicate line occurrences computed are not redrawn over another, as I ensured by filtration this would not happen. Numerous adjustments are present to handle a majority of expectations and the numerous visual acuities of members. I envision many thousands of members utilizing this script's versatility as a visual aid to help guide them along their path of trading assessments and decisiveness.
SCRIPT UTILITY:
Having the ability to recognize geometry in price movements is ultra handy in relation to directional trending and channeling arrangements especially. Trends are guaranteed at some unknown point in time to breakout, and form new trends or cycles. I employed a fire and ice color duo to differentiate between the upper trend lines from the lower trend lines. It seemed to be most visible without interfering too often with other indicators. These can be changed to any color combo you desire in Settings. Additional line preferences are provided to support your tailored experience while having other indicators present in the overlay pane. It may even be configured to only display two lines at a minimum. By doing so, you can really focus and fine tune Settings for just these two segments/rays with very specific refined tweaks.
One caveat of detecting pivots, is that they aren't recognized until after they have formed. Always remember that pivot points aren't instantaneously discoverable until their full form is computationally apparent in the form of a chevron. Technically describing the pivot detection is beyond normal comprehension and to difficult to explain in this description. I will also say, viewing this on a 4K display resolution reveals the best view. If you wish to use more than one instance of this indicator in the overlay for more than 60 lines at a time, go right ahead. However it may become messy.
P.S. This script and it's description was partially inspired by Twisted Sister's song "We're Not Gonna Take It"
RISK DISCLAIMER:
My scripts and indicators are specifically intended for informational and educational use only. This script uses historical data points to perform calculations to derive real-time calculations. They do not infer, indicate, or guarantee future results or performance.
By utilizing this script/indicator or any portion of it, you agree to accept 100% responsibly and liability for your investment or financial decisions, and I will not be held liable for your subjective analytic interpretations incurring sustained monetary losses. The opinions and information visual or otherwise provided by this script/indicator is not investment advice, nor does it constitute recommendation.
