FML - Fisher Money Line

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This TradingView indicator, called "FML - Fisher Money Line" (shortened to "FML" on charts), is a custom tool designed mainly for Bitcoin (BTC) trading. It overlays on your price chart to help spot trends, potential buy/sell points, and key price levels. Think of it as a smart channel that adapts to market volatility, combined with extra signals and visuals to make trading decisions easier. It's built for simplicity but has lots of customizable settings.
Key Features in Simple Terms

Money Line and Bands:

The core is a smooth "Money Line" (yellow, green, or red line) that's a trend-following average of recent prices (using linear regression over 16 bars by default).
Around it are upper and lower bands based on ATR (a measure of volatility). These bands widen during big price swings to avoid false signals. The bands shade in color: green for bullish trends (upward slope), red for bearish (downward), and yellow for neutral (flat).

Trend Detection:

The line color shows the trend: Green means bull (buy-friendly), red means bear (sell-friendly), yellow means sideways (wait and see).
It uses a smoothed slope calculation to avoid jittery changes.

Buy/Sell Signals:

Powered by the Fisher Transform (a momentum oscillator over 10 bars by default), it spots overbought/oversold conditions.
Green "Buy" labels appear when price crosses out of oversold (below -2.5 level).
Red "Sell" labels when it crosses out of overbought (above 2.5 level).
These are long-only signals (buys open positions, sells close them).

Info Panel:

A table or label showing real-time values: Money Line price, Upper/Lower Bands, ATR, and current Trend (Bull/Bear/Neutral).
You can position it on the chart and toggle between fixed (stays put) or anchored (moves with panning).

Scoring Bar:

A row of small squares at the bottom of the chart, colored green (bullish), red (bearish), or yellow (neutral).
It combines RSI (overbought/oversold), MACD (momentum), and DMI (trend direction) into a simple score (-3 to +3). Positive = bull, negative = bear.

Fibonacci Table:

A fixed table on the middle-right showing Fib levels (0, 0.236, 0.382, 0.5, 0.618, 0.65, 0.786, 1).
Levels are calculated between a low (Fib 0) and high (Fib 1), defaulting to the Money Line's lower/upper bands.
You can input custom highs/lows in settings. Table is inverted (1 at top, 0 at bottom), with blue for 0/1, purple for 0.5, gray for others.

Alerts:

Triggers for trend changes (e.g., "Trend changed to Bull") or price crossing bands.

Customizations:

Adjust lengths, multipliers, colors, and toggles for bands, shades, labels, etc.
Dynamic band expansion during volatility spikes.

Tips on Usage

Adding to Chart: Search for "FML - Fisher Money Line" in TradingView's Indicators menu and add it to your BTC chart (works best on BTCUSD or BTCUSDT pairs, any timeframe like 1h or daily).
Interpreting Signals: Look for buy labels in green trends (bullish) near the lower band for pullbacks. Sell in red trends near upper band. Use the scoring bar as confirmation—green squares support buys, red for sells. Ignore in yellow/neutral for choppy markets.
Customization Tips:

Tweak "Money Line Length" (default 16) for smoother (longer) or sensitive (shorter) trends.
Increase "ATR Multiplier" (default 1.5) for wider bands to filter noise in volatile BTC.
For Fib table, input custom highs/lows (e.g., recent swing points) in settings; otherwise, it uses bands for dynamic levels.
Disable "Show Shaded Bands" if the chart feels cluttered.


This indicator simplifies trend spotting and entry/exit points for BTC, making it user-friendly for beginners while flexible for pros. If you adjust settings, test on a demo chart first!

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Phát hành các Ghi chú

Added settings for toggling on or off the info table and the Fibonacci table.

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Phát hành các Ghi chú

Removed Extra Features: We took out all the Fibonacci stuff (like levels, calculations, and the table) to keep things focused and less cluttered.
Fixed Bugs: Added safety checks to handle early chart data (so it doesn't glitch at the start), adjusted label positions to show up correctly without delays, and simplified some detection logic for bands with better notes.
Better Organization: Broke the code into clear sections (like functions for key calculations) and used smarter ways to handle choices (like switches for positions). This makes it easier to read and edit.
Speed Boosts: Switched some manual loops to built-in functions (like using averages for slopes) to run quicker, especially on long charts.
Alert Cleanup: Removed alerts for band crosses since they weren't central, keeping only the trend change alert.
Scoring Bar Upgrades: Added a volume-based indicator (first tried CMF, then switched to MFI for more balanced neutral signals). MFI helps with buy/sell pressure and creates more "yellow" neutral bars by staying in a middle range more often. We made its levels adjustable (e.g., overbought at 80, oversold at 20) to tune neutrality.

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Phát hành các Ghi chú

Added settings to tune extreme overbought and oversold Fisher alerts. It's often advantageous to buy or sell on extremes rather than wait for a crossover or crossunder signal. Now you have the option in settings. Enjoy!

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Phát hành các Ghi chú

Aroon Indicator Addition as a Filter: We integrated Aroon (with a default 10-bar period to match Fisher) to refine buy/sell signals. It filters by requiring strong trend exhaustion: sells only trigger if Fisher conditions are met AND Aroon Up >85% (strong uptrend) while Down <15%; buys if Fisher triggers AND Aroon Up <15% while Down >85% (strong downtrend). This reduces false signals in non-exhausted trends, improving accuracy in volatile markets like crypto. Levels are now adjustable via inputs for customization.
Blue Candle Coloring: Candles now turn blue on any bar where a buy or sell alert triggers, via barcolor(), for easy visual identification without cluttering the chart.

7 giờ trước

Phát hành các Ghi chú

Added settings box to change decimal places for trading low priced coins that are under $1, like DOGE for example