[blackcat] L2 Swing Trading Indicator

5 thg 10, 2020

Level: 2

Background

Swing trading is a type of trading aimed at making short to medium term profits from a trading pair over a period of a few days to several weeks. Swing traders mainly use technical analysis to look for trading opportunities. In addition to analyzing price trends and patterns, these traders can also use fundamental analysis.

Function

[blackcat] L2 Swing Trading Indicator


Key Signal

trend --> trend line with color candles standing for trend strength
pump --> whale pump indicator
top --> top zone for selling point
bbuy --> botton zone for buying point
varr1 ---> for selling points
bullbear --> use 50 as bull bear boundary

Pros and Cons

Pros:

1. Clear to see the trend reversals with strength changes
2. Whale pump indicator confirm the validity of trend reversals


Cons:

1. oversold zone is hidden due to using zero line as bottom



Remarks

NA

Readme

In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.

The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.

Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.

Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.

Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.

Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.

Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.

11 thg 4, 2021

Phát hành các Ghi chú

slyyoc, error was corrected, enjoy.

17 thg 6, 2021

Phát hành các Ghi chú

Add inputs parameters for tuning and remove black outline of candles

27 thg 1, 2022

Phát hành các Ghi chú

Alerts are added

24 thg 3

Phát hành các Ghi chú

OVERVIEW

This enhanced Level II swing trading indicator provides multi-faceted market analysis through trend strength assessment, pump detection, and buy/sell signal generation. Designed as a standalone study (non-overlay), it combines weighted averages, moving averages, and crossovers to identify optimal entry/exit opportunities.

FEATURES

• Trend analysis module calculating three-layered components (raw-trend, smoothed, double-smoothed)
• Real-time pump detection system withEMA adjustments and boundary checks
• Dual directional signals:

Buy triggers via EMA crossover (6-period vs 5-period)
Sell triggers based on volatility thresholds (<82%) • Multi-dimensional visualization: • Trend strength plot (white/yellow/fuchsia scales) • Pump alert bars (orange highlights) • Dynamic uptrend/downtrend candle markers • Color-coded Buy/Sell zones (lime/red backgrounds) • Interactive alert system with custom messages • Central reference point: neutral zone horizontal line (yellow dotted)

HOW TO USE

Add indicator to chart with default parameters:
input_K=9 | input_D=3 | MidPeriod=58
Interpret trend progression from white plot movement
Monitor orange pump warnings during upward pressure phases
Activate alerts via Tradeview notification settings
Prioritize trades when: ✓ Buy Zone appears above neutral line ✓ Sell Zones form below resistance levels ✓ Converging trend/pump indicators align directionally

LIMITATIONS

• No backward-looking data access beyond current bar
• Parameter sensitivity may require optimization
• Momentum readings can exhibit lag during volatile conditions
• Pump detection accuracy depends on chosen period lengths

NOTES

• Recommended for medium-term timeframes (1H+)
• Backtest thoroughly across multiple assets before deployment
• Adjust MidPeriod value for different market regimes