Bollinger Band Squeeze with Dotted MidlinesBollinger Band Squeeze with Dotted Midlines
Overview:
The Bollinger Band Squeeze with Dotted Midlines indicator is a powerful tool designed to identify periods of low volatility in the market, known as "squeeze" conditions, which often precede significant price movements. By combining Bollinger Bands and Keltner Channels, this indicator highlights when the market is consolidating and prepares traders for potential breakouts.
Key Features:
• Squeeze Detection: The indicator fills the area between the Bollinger Bands and Keltner Channels with a semi-transparent red color when both the upper and lower Bollinger Bands are within the Keltner Channels. This visual cue signifies a squeeze condition.
• Dynamic Color Filling: When the Bollinger Bands move outside the Keltner Channels, the fill color changes to a semi-transparent white, indicating the end of the squeeze and the potential start of increased volatility.
• Enhanced Visual Clarity:
o Upper and Lower Bands: The upper and lower lines of both the Bollinger Bands and Keltner Channels are plotted with increased thickness (3pt) for better visibility.
o Midlines with Dotted Effect: The middle lines (50% lines) for both the Bollinger Bands and Keltner Channels are plotted as dotted lines using circles with a thinner line width (1pt), providing a clear yet unobtrusive reference point.
Indicator Components:
1. Bollinger Bands (Orange Lines):
o Upper Bollinger Band: Calculated as the moving average plus a multiple of the standard deviation.
o Lower Bollinger Band: Calculated as the moving average minus a multiple of the standard deviation.
o Middle Bollinger Band: The simple moving average (SMA) of the closing price.
2. Keltner Channels (White Lines):
o Upper Keltner Channel: Calculated as the exponential moving average (EMA) plus a multiple of the average true range (ATR).
o Lower Keltner Channel: Calculated as the EMA minus a multiple of the ATR.
o Middle Keltner Channel: The EMA of the closing price.
3. Squeeze Condition Fill:
o Red Fill (40% Opacity): Indicates a squeeze condition where the Bollinger Bands are entirely within the Keltner Channels.
o White Fill (40% Opacity): Indicates normal market conditions where the Bollinger Bands have moved outside the Keltner Channels.
How to Use:
1. Identifying Squeeze Conditions:
o Look for Red Filled Areas: When you see the area between the Bollinger Bands and Keltner Channels filled in semi-transparent red, it signals a squeeze condition. This means the market is experiencing low volatility and may be preparing for a significant move.
2. Preparing for Potential Breakouts:
o Monitor for Fill Color Changes: A transition from red to white fill suggests that the squeeze is ending, and volatility is increasing. Traders often interpret this as a potential opportunity for a breakout in either direction.
3. Utilizing Midlines:
o Reference Midlines for Trend Direction: The dotted midlines provide insight into the overall trend. Crossing of the price above or below these lines can offer additional confirmation for trading decisions.
Customization Options:
• Bollinger Bands Settings:
o Length: Default is 20 periods. Adjust to change the sensitivity of the bands.
o Multiplier: Default is 2.0. Modify to increase or decrease the band width based on standard deviation.
• Keltner Channels Settings:
o Length: Default is 20 periods. Alter to adjust the responsiveness of the channels.
o Multiplier: Default is 1.5. Change to widen or narrow the channels based on average true range.
Advantages:
• Visual Clarity: Enhanced line thickness and semi-transparent fills make it easy to spot key market conditions at a glance.
• Early Warning System: By identifying squeeze conditions, traders can anticipate potential breakouts and plan their strategies accordingly.
• Flexible Application: Suitable for various timeframes and trading styles, including day trading, swing trading, and position trading.
Limitations:
• False Signals: Like all technical indicators, it may produce false signals, especially in choppy or range-bound markets.
• Should Be Used with Other Indicators: For better accuracy, it's recommended to use this indicator in conjunction with other technical analysis tools and not as a standalone signal generator.
Conclusion:
The Bollinger Band Squeeze with Dotted Midlines indicator is a valuable addition to any trader's toolkit. By effectively highlighting periods of consolidation and potential breakout points, it aids in making informed trading decisions. The visual enhancements improve usability, allowing traders to quickly interpret market conditions and respond appropriately.
Băng tần và kênh
Fibonacci & Bollinger Bands StrategyThis strategy combines Bollinger Bands and Fibonacci retracement/extension levels to identify potential entry and exit points in the market. Here’s a breakdown of each component and how the strategy works:
1. Bollinger Bands:
Bollinger Bands consist of a simple moving average (SMA) and two standard deviations (upper and lower bands) plotted above and below the SMA. The bands expand and contract based on market volatility.
Purpose in Strategy:
The lower band represents an area where the market might be oversold.
The upper band represents an area where the market might be overbought.
The price crossing these bands suggests overextended market conditions, which can be used to identify potential reversals.
2. Fibonacci Retracement and Extension Levels:
Fibonacci retracement levels are horizontal lines that indicate where price might find support or resistance as it retraces some of its previous movement. Common retracement levels are 61.8% and 78.6%.
Fibonacci extension levels are used to project areas where the price might extend after completing a retracement. These levels can help determine potential targets after a significant price movement.
Purpose in Strategy:
The strategy calculates the most recent swing high (fibHigh) and swing low (fibLow) over a lookback period. It then plots Fibonacci retracement and extension levels based on this range.
The Fibonacci levels are used as key support and resistance areas. The price approaching or touching these levels signals potential turning points in the market.
3. Entry Criteria:
A long position (buy) is triggered when:
The price crosses below the lower Bollinger Band, indicating an oversold condition.
The price is near or above a Fibonacci extension level (calculated based on the most recent price swing).
This suggests that the price is potentially reaching a strong support area, where a reversal is likely.
4. Exit Criteria:
The long position is closed (exit trade) when either:
The price touches or crosses the upper Bollinger Band, signaling an overbought condition.
The price reaches a Fibonacci retracement level or exceeds the recent swing high (fibHigh), indicating a potential exhaustion point or a reversal area.
5. General Strategy Logic:
The strategy takes advantage of market volatility (captured by the Bollinger Bands) and key support/resistance levels (determined by Fibonacci retracement and extension levels).
By combining these two techniques, the strategy identifies potential entry points at oversold levels with the expectation that the market will retrace or reverse upward, especially when near key Fibonacci extension levels.
Exit points are identified by potential overbought levels (Bollinger upper band) or key Fibonacci retracement levels, where the price might reverse downward.
6. Conditions to Execute the Strategy:
The Fibonacci levels are only calculated once the price has made a significant movement, establishing a recent high and low over a 50-bar period (which you can adjust). This ensures the Fibonacci levels are based on meaningful swings.
The entry and exit signals are filtered using both Bollinger Bands and Fibonacci levels to ensure that trades are not taken solely based on one indicator, thus reducing false signals.
Key Features of the Strategy:
Trend-following with reversal: It tries to catch reversals when the price hits extreme levels (Bollinger Bands) while respecting important Fibonacci levels.
Dynamic market adaptation: The strategy adapts to market conditions as it recalculates Fibonacci levels based on recent price swings and adjusts the Bollinger Bands for market volatility.
Confirmation through multiple indicators: It uses both the volatility-based signals from Bollinger Bands and the price structure from Fibonacci levels to confirm trade entries and exits.
Summary of the Strategy:
The strategy looks to buy low and sell high based on oversold/overbought signals from Bollinger Bands and Fibonacci levels that indicate key support and resistance zones.
By combining these two technical indicators, the strategy aims to reduce risk and increase accuracy by only entering trades when both indicators suggest favorable conditions.
Prometheus Fractal WaveThe Fractal Wave is an indicator that uses a fractal analysis to determine where reversals may happen. This is done through a Fractal process, making sure a price point is in a certain set and then getting a Distance metric.
Calculation:
A bullish Fractal is defined by the current bar’s high being less than the last bar’s high, and the last bar’s high being greater than the second to last bar’s high, and the last bar’s high being greater than the third to last bar’s high.
A bearish Fractal is defined by the current low being greater than the last bar’s low, and the last bar’s low being less than the second to last bar’s low, and the last bar’s low being less than the third to last bar’s low.
When there is that bullish or bearish fractal the value we store is either the last bar’s high or low respective to bullish or bearish fractal.
Once we have that value stored we either subtract the last bar’s low from the bullish Fractal value, and subtract the last bar’s high from the bearish Fractal value. Those are our Distances.
Code:
isBullishFractal() =>
high > high and high < high and high > high
isBearishFractal() =>
low < low and low > low and low < low
var float lastBullishFractal = na
var float lastBearishFractal = na
if isBullishFractal() and barstate.isconfirmed
lastBullishFractal := high
if isBearishFractal() and barstate.isconfirmed
lastBearishFractal := low
//------------------------------
//-------CACLULATION------------
//------------------------------
bullWaveDistance = na(lastBullishFractal) ? na : lastBullishFractal - low
bearWaveDistance = na(lastBearishFractal) ? na : high - lastBearishFractal
We then plot the bullish distance and the negative bearish distance.
The trade scenarios come from when one breaks the zero line and then goes back above or below. So if the last bullish distance was below 0 and is now above, or if the last negative bearish distance was above 0 and now below. We plot a green label below a candle for a bullish scenario, or a red label above a candle for a bearish one, you can turn them on or off.
Code:
plot(bullWaveDistance, color=color.green, title="Bull Wave Distance", linewidth=2)
plot(-bearWaveDistance, color=color.red, title="Bear Wave Distance", linewidth=2)
plot(0, "Zero Line", color=color.gray, display = display.pane)
bearish_reversal = plot_labels ? bullWaveDistance < 0 and bullWaveDistance > 0 : na
bullish_reversal = plot_labels ? -bearWaveDistance > 0 and -bearWaveDistance < 0 : na
plotshape(bullish_reversal, location=location.belowbar, color=color.green, style=shape.labelup, title="Bullish Fractal", text="↑", display = display.all - display.status_line, force_overlay = true)
plotshape(bearish_reversal, location=location.abovebar, color=color.red, style=shape.labeldown, title="Bearish Fractal", text="↓", display = display.all - display.status_line, force_overlay = true)
We can see in this daily NASDAQ:QQQ chart that the indicator gives us marks that can either be used as Reversal signals or as breathers in the trend.
Since it is designed to provide reversals, on something like Gold where the uptrend has been strong, the signals may be just short breathers, not full blown strong reversal signs.
The indicator works just as well intra day as it does on larger timeframes.
We encourage traders to not follow indicators blindly, none are 100% accurate. Please comment on any desired updates, all criticism is welcome!
Dynamic Darvas BoxBu Darvas Box göstergesi, finansal piyasadaki potansiyel fiyat kırılımlarını hacimle birlikte analiz eden dinamik bir sistem sunar. Geliştirdiğiniz bu Pine Script, belirli bir "bakış aralığı" parametresi kullanarak geçmiş fiyat hareketlerinden yüksek ve düşük noktalar oluşturur ve bu seviyelerin kırılımını takip eder. Hacimli veya hacimsiz kırılımlar da ayrıca işaretlenir. Aşağıda hem Türkçe hem de İngilizce açıklamalar yer almakta:
Türkçe Açıklama:
Darvas Kutusu ve Hacim Kırılımı
Bu gösterge, fiyatların Darvas Kutusu mantığıyla analiz edilmesini sağlar ve kutunun kırılım seviyelerini hacimle birlikte değerlendirir.
Bakış Aralığı (bakis_araligi): Bu parametre, fiyatın geçmişte kaç bar geri giderek yeni bir yüksek veya düşük seviyenin tespit edilmesi gerektiğini belirler.
Hacim SMA (hacim_sma): Hacim için kullanılan basit hareketli ortalamanın (SMA) uzunluğunu belirler. Gösterge, hacim ortalamasının üzerinde veya altında olup olmadığını bu SMA değerine göre değerlendirir.
Kapanış Fiyatı ile Tamamlama (kapanis_kullan): Eğer bu seçenek aktifse, kutu kapanış fiyatı baz alınarak tamamlanır. Aksi takdirde, yüksek ve düşük seviyelerle tamamlanır.
Kırılım Fiyatını Göster (kirilim_goster): Hacim yetersiz olsa bile kırılım seviyesini etiketlemek için kullanılır.
Bu göstergede, yüksek bir fiyatın oluşması durumunda bir kutu başlatılır. Kutu, bakış aralığı boyunca yüksek ve düşük seviyeler ile onaylanır. Sonrasında, fiyatın kutu seviyesini kırıp kırmadığı izlenir. Eğer fiyat kutunun üzerine çıkarsa veya altına düşerse, hacim durumu kontrol edilerek bir "Hacimli Kırılım" veya "Hacimsiz Kırılım" etiketi gösterilir.
Kutu Arka Plan Renkleri: Kutu içerisindeki fiyat hareketinin durumu, renklerle gösterilir:
Yukarı Kırılım: Kutunun üst seviyesinin kırılması durumunda yeşil renk.
Aşağı Kırılım: Kutunun alt seviyesinin kırılması durumunda kırmızı renk.
Nötr: Kutu içinde tarafsız durum için sarı renk.
Ayrıca, kutunun orta hattı (orta_hat), yüksek ve düşük seviyelerin ortalamasını temsil eder ve fiyatın bu çizgiyi kaç kez kestiğini analiz etmek için kullanılabilir.
English Description:
Darvas Box and Volume Breakout
This indicator implements a dynamic Darvas Box strategy that tracks potential price breakouts in combination with volume analysis.
Lookback Period (bakis_araligi): This parameter defines how many bars back the price needs to look for determining a new high or low.
Volume SMA (hacim_sma): Specifies the length of the Simple Moving Average (SMA) for volume. The indicator uses this value to determine if volume is above or below average.
Completion with Closing Price (kapanis_kullan): If this option is enabled, the box is completed based on the closing price. Otherwise, the high and low prices are used for completion.
Show Breakout Price (kirilim_goster): This option is used to label the breakout price, even if the volume is below the average.
The indicator starts a box when a new high price is detected. The box is confirmed over the lookback period using high and low levels. The breakout levels are then monitored. If the price breaks above the upper or lower box boundary, it checks the volume condition and labels the breakout as either "Volume Breakout" or "Non-Volume Breakout."
Box Background Colors: The price movement within the box is represented with colors:
Upward Breakout: The background is green if the upper box boundary is broken.
Downward Breakout: The background is red if the lower boundary is broken.
Neutral: The background is yellow for neutral price movement within the box.
Additionally, the middle line (orta_hat) represents the average of the high and low levels and can be used to analyze how many times the price crosses this midline.
Fibonacci Cloud MTF [TrendX_]The Fibonacci Cloud MTF Indicator is an innovative trading tool crafted to assist traders in dynamically identifying key Fibonacci retracement levels. Unlike traditional methods that depend on static pivot points, this indicator effectively plots the Fibonacci golden zone - ranging from 0.382 to 0.618 - using the most recent highs and lows. This dynamic approach provides a more nuanced and responsive analysis of price movements, allowing traders to observe real-time reactions to significant Fibonacci levels. Furthermore, the indicator functions as a trend-following mechanism, signaling potential uptrends when the price crosses above the 0.618 fibonacci retracement level and indicating downtrends when it dips below.
💎 KEY FEATURES
Dynamic Fibonacci Levels: The indicator calculates Fibonacci retracement levels based on the latest highs and lows, providing a more relevant framework for current market conditions.
Golden Zone Focus: It emphasizes the Fibonacci golden zone (0.382 - 0.618), which is widely regarded as a critical area for potential reversals or continuations.
Multi-timeframe Analysis: The ability to view Fibonacci levels across multiple timeframes allows traders to identify trends and potential entry points more effectively.
Trend-Following Signals: Clear trend directions relative to the 0.618 level.
⚙️ USAGES
Identifying Key Retracement Levels: Traders can use the plotted Fibonacci levels to determine potential pullback or throwback at the key Fibonacci areas.
Trend Confirmation: By observing price interactions with the 0.618 level, traders can confirm ongoing trends and make more informed decisions about entering or exiting positions.
Multi-timeframe Strategies: The indicator allows traders to align strategies across different timeframes, improving overall trading effectiveness.
🔎 BREAKDOWN
Dynamic Fibonacci Levels: By calculating Fibonacci retracement levels from the latest highs and lows, traders receive a more accurate representation of current market sentiment. This dynamic approach ensures that the levels adapt to changing market conditions, making them more relevant for decision-making.
Golden Zone Focus: This highlights the Fibonacci golden zone, particularly the range between 0.382 and 0.618. This zone is widely regarded as a pivotal area for potential price reversals or continuations, serving as key support and resistance levels. Prices often react strongly at these points, making them crucial for pinpointing potential entry and exit opportunities in your trading strategy.
Multi-timeframe Analysis: Incorporating multi-timeframe analysis allows traders to observe how Fibonacci levels behave across different timeframes. This feature helps traders identify broader trends while also pinpointing short-term opportunities.
Trend-Following Strategies: Uptrend trigger - When the price crosses above the 0.618 level, it triggers uptrend, conversely, when the price crosses below the 0.618 level, it triggers a downtrend.
DISCLAIMER
This indicator is not financial advice, it can only help traders make better decisions. There are many factors and uncertainties that can affect the outcome of any endeavor, and no one can guarantee or predict with certainty what will occur. Therefore, one should always exercise caution and judgment when making decisions based on past performance.
Trade Entry Detector, Wick to Body Ratio Trade Entry Detector: Wick-to-Body Ratio Strategy with Bollinger Bands
Overview
The Trade Entry Detector is a custom strategy for TradingView that leverages the Bollinger Bands and a unique wick-to-body ratio approach to capture precise entry opportunities. This indicator is designed for traders who want to pinpoint high-probability reversal points when price interacts with Bollinger Bands, all while offering flexible entry fill options.
The strategy performs primary analysis on the daily time frame, regardless of your current chart setting, allowing you to view daily Bollinger Band levels and entry signals even on lower time frames. This approach is suitable for swing traders and short-term traders looking to align intraday moves with higher time frame signals.
How the Strategy Works
1. Bollinger Band Analysis on the Daily Time Frame
Bollinger Bands are calculated using a 20-period simple moving average (SMA) and a standard deviation multiplier (default is 2). These bands dynamically expand and contract based on market volatility, making them ideal for identifying overbought and oversold conditions:
* Upper Band: Indicates potential overbought levels.
* Lower Band: Indicates potential oversold levels.
2. Wick-to-Body Ratio Condition
This strategy places significant emphasis on candle wicks relative to the candle body. Here’s why:
* A large upper wick relative to the body signals potential selling pressure after testing the upper Bollinger Band.
* A large lower wick relative to the body indicates buying support after testing the lower Bollinger Band.
* Ratio Threshold: You can set a minimum wick-to-body ratio (default is 1.0), meaning that the wick must be at least equal in size to the body. This ensures only candles with significant reversals are considered for entry.
3. Flexible Entry Timing
To adapt to various trading styles, the indicator allows you to choose the entry fill timing:
* Daily Close: Enter at the close of the daily candle.
* Daily Open: Enter at the open of the following daily candle.
* HOD (High of Day): Set entry at the daily high, for those who want confirmation of upward momentum.
* LOD (Low of Day): Set entry at the daily low, ideal for confirming downward movement.
4. Position Sizing and Risk Management
The strategy calculates position size based on a fixed risk percentage of your account balance (default is 1%). This approach dynamically adjusts position sizes based on stop-loss distance:
* Stop Loss: Placed at the nearest swing high (for shorts) or swing low (for longs).
* Take Profit: Exits are triggered when the price reaches the opposite Bollinger Band.
5. Order Expiration
Each pending order (long or short) expires after two days if unfilled, allowing for new setups on subsequent candles if conditions are met again.
Using the Trade Entry Detector
Step-by-Step Guide
1. Set the Primary Time Frame
The core calculations run on the daily time frame, but the strategy can be applied to intraday charts (e.g., 65-minute or 15-minute) for deeper insights.
2. Adjust Bollinger Band Settings
* Length: Default is 20, which determines the period for calculating the moving average.
* Standard Deviation Multiplier: Default is 2.0, which sets the width of the bands. Adjusting this can help you capture broader or tighter volatility ranges.
3. Define the Wick-to-Body Ratio
Set the minimum ratio between wick and body (default 1.0). Higher values filter out candles with less wick-to-body contrast, focusing on stronger rejection moves.
4. Choose Entry Fill Timing
Select your preferred fill condition:
* Daily Close: Confirms the trade at the end of the daily session.
* Daily Open: Executes the entry at the open of the next day.
* HOD/LOD: Uses the daily high or low as an additional confirmation for upward or downward moves.
5. Position Sizing and Risk Management
* Set your account balance and risk percentage. The strategy automatically calculates position sizes based on the stop distance to manage risk efficiently.
* Stop Loss and Take Profit points are automatically set based on swing highs/lows and opposing Bollinger Bands, respectively.
Practical Example
Let’s say SPY (S&P 500 ETF) tests the lower Bollinger Band on the daily time frame, with a lower wick that is twice the size of the body (meeting the 1.0 ratio threshold). Here’s how the strategy might proceed:
1. Signal: The lower wick on SPY suggests buying interest at the lower Bollinger Band.
2. Entry Fill Timing: If you’ve selected "Daily Open," the entry order will be placed at the next day's open price.
3. Stop Loss: Positioned at the nearest daily swing low to minimize risk.
4. Take Profit: If SPY price moves up and reaches the upper Bollinger Band, the position is automatically closed.
Indicator Features and Benefits
* Multi-Time Frame Compatibility: Perform daily analysis while tracking signals on any intraday chart.
* Automatic Position Sizing: Tailor risk per trade based on account balance and desired risk percentage.
* Flexible Entry Options: Choose from close, open, HOD, or LOD for optimal timing.
* Effective Trend Reversal Identification: Uses wick-to-body ratio and Bollinger Band interaction to pinpoint potential reversals.
* Dynamic Visualization: Bollinger Bands are displayed on your chosen time frame, allowing seamless intraday tracking.
Summary
The Trade Entry Detector provides a unique, data-driven way to spot reversal points with customizable entry options. By combining Bollinger Bands with wick-to-body ratio conditions, it identifies potential trade setups where price has tested extremes and shown reversal signals. With its flexible entry timing, risk management features, and multi-time frame compatibility, this indicator is ideal for traders looking to blend daily market context with shorter-term execution.
Tips for Usage:
* For swing trading, consider the Daily Open or Close entry options.
* For momentum entries, HOD or LOD may offer better alignment with the direction of the wick.
* Backtest on different assets to find optimal Bollinger Band and wick-to-body settings for your market.
Use this indicator to enhance your understanding of price behavior at key levels and improve the precision of your entry points. Happy trading!
ATR Range Pivot LinesDescription:
This Pine Script calculates and plots pivot lines based on ATR (Average True Range) value and closing price. It uses the previous trading day's ATR value to set static pivot levels for the current trading day. These pivot lines help traders identify potential support and resistance levels based on historical volatility. The script includes two main pivot lines—ATR High and ATR Low —and two midpoint lines between them for additional context. Labels are added to show the exact pivot values, with options to customize label positions.
Intended Use:
The script is designed to help traders forecast potential price ranges for the current trading day based on the previous day’s volatility. By adding and subtracting the previous day's ATR from the prior close, the script identifies key levels where price action may encounter support or resistance. It is useful for setting realistic price targets or entry/exit points. Since the ATR-based pivot lines are static for the entire day, they provide a reliable range for intraday trading strategies.
Disclosure:
This script was generated using AI. It is recommended to review and test the script thoroughly before applying it in live trading scenarios.
Volatility Gaussian Bands [BigBeluga]The Volatility Gaussian Bands indicator is a cutting-edge tool designed to analyze market trends and volatility with high precision. By applying a Gaussian filter to smooth price data and implementing dynamic bands based on market volatility, this indicator provides clear signals for trend direction, strength, and potential reversals. With updated volatility calculations, it enhances the accuracy of trend detection, making it a powerful addition to any trader's toolkit.
⮁ KEY FEATURES & USAGE
● Gaussian Filter Trend Bands:
The Gaussian Filter forms the foundation of this indicator by smoothing price data to reveal the underlying trend. The trend is visualized through upper and lower bands that adjust dynamically based on market volatility. These bands provide clear visual cues for traders: a crossover above the upper band indicates a potential uptrend, while a cross below the lower band signals a potential downtrend. This feature allows traders to identify trends with greater accuracy and act accordingly.
● Dynamic Trend Strength Gauges:
The indicator includes trend strength gauges positioned at the top and bottom of the chart. These gauges dynamically measure the strength of the uptrend and downtrend, based on the middle Gaussian line. Even if the trend is downward, a rising midline will cause the upward trend strength gauge to show an increase, offering a nuanced view of the market’s momentum.
Weakening of the trend:
● Fast Trend Change Indicators:
Triangles with a "+" symbol appear on the chart to signal rapid changes in trend direction. These indicators are particularly useful when the trend changes swiftly while the midline continues to grow in its previous direction. For instance, during a downtrend, if the trend suddenly shifts upward while the midline is still declining, a triangle with a "+" will indicate this quick reversal. This feature is crucial for traders looking to capitalize on rapid market movements.
● Retest Signals:
Retest signals, displayed as triangles, highlight potential areas where the price may retest the Gaussian line during a trend. These signals provide an additional layer of analysis, helping traders confirm trend continuations or identify possible reversals. The retest signals can be customized based on the trader’s preferences.
⮁ CUSTOMIZATION
● Length Adjustment:
The length of the Gaussian filter can be customized to control the sensitivity of trend detection. Shorter lengths make the indicator more responsive, while longer lengths offer a smoother, more stable trend line.
● Volatility Calculation Mode:
Traders can select from different modes (AVG, MEDIAN, MODE) to calculate the Gaussian filter, allowing for flexibility in how trends are detected and analyzed.
● Retest Signals Toggle:
Enable or disable the retest signals based on your trading strategy. This toggle allows traders to choose whether they want these additional signals to appear on the chart, providing more control over the information displayed during their analysis.
⮁ CONCLUSION
The Volatility Gaussian Bands indicator is a versatile and powerful tool for traders focused on trend and volatility analysis. By combining Gaussian-filtered trend lines with dynamic volatility bands, trend strength gauges, and rapid trend change indicators, this tool provides a comprehensive view of market conditions. Whether you are following established trends or looking to catch early reversals, the Volatility Gaussian Bands offers the precision and adaptability needed to enhance your trading strategy.
Follow LineFollow Line is a common MT4 FX indicator based on trend following.
The main idea behind the calculation is volatility:
-Indicator Line increases as price goes above Bollinger Bands but with 1 standard deviation.
-Likewise when price moves below the lower Bollinger Band with 1 Standard deviation, Follow -Line decreases down.
-As you can imagine, indicator stays as a flat line when price moves between the bands.
There are two critical settings about the indicator:
1- Bollinger Bands Deviation is set to 1 as default but if you want to have early signals you have to decrease that amount. Also you'd better increase that to have flat values on sideways market conditions for not getting chopped by the early but false signals.
2- ATR Filter is activated in default settings and the indicator follows the trend with a distance from Highs and Lows considering ATR (default length 5) values. If you turn off the ATR filter, the indicator line only takes into account the Highs and the Lows. Indicator will get more agile but the risk of choppy signals can be taken that time. I personally advise you to increase the Bollinger Band Deviation from 1 to between 1.5-2 to stabilize the fake signals when ATR filter is turned off.
Signals can be shown on the graph:
BUY: when Follow Line changes direction from red to blue.(which means Price is above Bollinger Upper Band with 1 standard deviation)
SELL: when Follow Line changes direction from blue to red. (which means Price moves below Bollinger Lower Band with 1 standard deviation)
Finally, some of you may know there are also several Follow Line indicators on TradingView but unfortunately they don't show the same exact values (close but not same) comparing with original version of MT4 and the Metastock version that I've coded recently. So, I shared this stuff to have the exact same values on graphs on all platforms.
Wavy Tunnel + Trend ATR Buy Sell Signal by PaRn:::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::::
Vertical Lines & Price RangeThis Pine Script indicator visually marks significant historical price points on the chart by drawing vertical lines at intervals of 6 months, 3 months, and 1 month ago. Each vertical line is accompanied by a label indicating the time frame (6M, 3M, 1M). Additionally, it calculates and displays the percentage change between the closing prices at 6 months ago and 3 months ago, as well as between 3 months ago and 1 month ago, using horizontal lines to connect these price points. This tool is useful for analyzing trends and price movements over time, providing traders with a clear visual representation of historical performance.
Dynamic Darvas Lines [CHE] Dynamic Darvas Lines
Unlock Precision Trading with Dynamic Darvas Lines
Overview:
Dynamic Darvas Lines is an advanced trading indicator designed for traders seeking to enhance their market analysis and decision-making process. Building upon the classic Darvas Box theory, this indicator introduces dynamic zone detection and comprehensive customization features, making it an indispensable tool for both novice and experienced traders.
Key Features & Advantages:
1. Dynamic Zone Detection:
- Adaptive Boxes: Automatically identifies and adjusts support and resistance levels based on market volatility and price movements, ensuring that the indicator remains relevant in varying market conditions.
- Real-Time Updates: Continuously recalculates box boundaries, providing up-to-the-minute insights into potential breakout or reversal points.
2. Enhanced Signal Accuracy:
- Buy & Sell Signals: Generates clear and actionable buy and sell signals based on the crossover and crossunder of price with dynamic Darvas lines, helping traders capitalize on optimal entry and exit points.
- Signal Confirmation: Reduces false signals by requiring confirmation through multiple conditions, enhancing overall trade reliability.
3. Comprehensive Customization:
- Adjustable Parameters: Tailor the indicator to your specific trading style with customizable box length, signal colors, and plot shapes.
- Color Management: Differentiate between various market signals with intuitive color coding for buy/sell signals, box boundaries, and debug lines, enhancing visual clarity on your charts.
4. Advanced Visualization:
- Signal Circles: Visual markers highlight significant price levels where buy and sell signals are triggered, making it easier to spot opportunities at a glance.
- Debug Mode: Activate debug lines to display the lowest lows and highest highs within the defined box length, aiding in in-depth market analysis and strategy refinement.
5. Robust Alert System:
- Custom Alerts: Set up real-time alerts for buy and sell signals, ensuring you never miss critical trading opportunities even when you're away from your screen.
- Automated Notifications: Receive instant notifications directly through your trading platform, keeping you informed and ready to act.
6. Seamless Integration:
- Overlay Capability: Easily integrates with your existing charts, allowing you to combine Dynamic Darvas Lines with other technical indicators for a more comprehensive market view.
- Optimized Performance: Efficiently coded in Pine Script V5, ensuring smooth performance without lag, even on lower-end devices.
Use Cases:
- Trend Identification: Detect and follow market trends by observing the formation and breakout of dynamic Darvas boxes, helping you stay aligned with the market’s momentum.
- Breakout Trading: Capitalize on significant price movements when the price breaks out of established Darvas zones, indicating potential strong directional moves.
- Reversal Detection: Identify potential market reversals by monitoring when the price crosses under the lower Darvas line or above the upper Darvas line, signaling a change in market sentiment.
- Risk Management: Utilize the indicator’s clear support and resistance levels to set strategic stop-loss and take-profit points, enhancing your risk-reward ratio.
- Market Analysis: Combine with other technical tools and indicators to perform comprehensive market analysis, improving the accuracy of your trading strategies.
Why Choose Dynamic Darvas Lines ?
Dynamic Darvas Lines stands out with its blend of traditional Darvas Box principles and modern enhancements. Its dynamic nature ensures adaptability across different market conditions, while the extensive customization options provide traders with the flexibility to tailor the indicator to their unique trading strategies. Whether you’re aiming to identify trends, execute breakout trades, or manage risks more effectively, Dynamic Darvas Lines offers the precision and reliability you need to elevate your trading game.
Get Started Today:
Enhance your trading toolkit with Dynamic Darvas Lines and experience the difference in your market analysis and trading performance. Download now and take the first step towards more informed and strategic trading decisions!
Note: Always backtest any trading indicator and use it in conjunction with other analysis tools to develop a robust trading strategy. Trading involves risk, and it's essential to practice sound risk management.
Disclaimer:
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
[MAD] Fibonacci Bands with SmoothingHi, this is just an easy script, nothing special, it was a request from a community member and was finished in just 40 minutes :D
This indicator offers a approach to tracking market price movements by utilizing Fibonacci-based levels combined with customizable smoothing options for both the bands and the high/low values.
Key Features:
Customizable Moving Averages: Choose from a variety of smoothing methods, including SMA, EMA, WMA, HMA, VWMA, and advanced Ehlers-based methods.
This allows for flexible adaptation to different assets.
Multiple Fibonacci Band Multipliers: The user can define six different multipliers for both the upper and lower Fibonacci bands, allowing for granular customization of the indicator. The middle line serves as the central reference, and the multipliers extend the bands outward based on price range dynamics.
High/Low Smoothing: In addition to smoothing the Fibonacci bands, users can apply smoothing to the high and low prices that form the basis for calculating the Fibonacci bands. This ensures that the indicator responds smoothly to market movements, reducing noise while capturing key trends.
Forward Shift Option: Allows for projecting the bands into the future by shifting the calculated levels forward by a user-specified number of periods. This feature is particularly useful for those interested in anticipating price actions and future trends.
Visual Enhancements: The indicator features filled regions between bands to clearly visualize the zones of price movement. The fills between the bands offer insight into potential support and resistance zones, based on price levels defined by the Fibonacci ratios.
How It Works:
The indicator uses the highest and lowest closing prices over a specified lookback period to establish a price range. Based on this range, it calculates the middle line (0.5 level) and applies user-defined Fibonacci multipliers to generate both upper and lower bands. Users have control over the smoothing method for both the high/low prices and the bands themselves, allowing for an adaptive experience that can be tailored to different timeframes or market conditions.
For visualization, areas between the upper and lower bands are filled with distinct colors, providing an intuitive view of the potential price zones where the market might react or consolidate.
These fills highlight the zones created by the Fibonacci bands, helping users identify critical market levels with ease.
have fun
p.s.: @frankchef hope that suits your needs & expectations ;-)
Premium & Discount Delta Volume [BigBeluga]Premium & Discount Delta Volume is an advanced volume-based tool that helps traders identify zones of market imbalances by using the concepts of premium and discount pricing, commonly taught by ICT trader. It calculates and highlights periods where the market is trading at a premium (selling pressure is stronger) or a discount (buying pressure is stronger) and dynamically plots these zones over time. The indicator also calculates delta volume between buying and selling within these zones, showing shifts in market sentiment and potential areas for reversals or continuations.
🔵 IDEA
The Premium & Discount Delta Volume indicator is rooted in the ICT (Inner Circle Trader) concept of premium and discount zones. This concept divides the price action into two key zones:
Premium Zone : This area is where the market is trading at a level where sellers dominate, leading to more selling pressure. The idea is that the price is overvalued, and a potential drop could occur as the market reverts to a balanced state.
Discount Zone : This area is where the market is undervalued, with buyers dominating and applying upward pressure. Prices in this area often indicate opportunities to buy into strength as the market moves back to equilibrium.
At the core of the indicator is the delta volume, which measures the difference between buying and selling pressure within the premium and discount zones. When the delta volume is negative, it signals a downtrend with more selling pressure, while a positive delta volume signals an uptrend with more buying pressure. These zones and their associated delta values update dynamically, providing traders with real-time insights into market strength and potential price reversals.
The equilibrium in the middle of the premium and discount zones represents the balance point between buyers and sellers. When price moves away from equilibrium, it either enters the premium zone (potentially overbought) or the discount zone (potentially oversold), helping traders make more informed decisions based on volume and price structure.
🔵 KEY FEATURES & USAGE
Premium & Discount Zones:
The indicator automatically identifies and plots premium and discount zones on the chart. Premium zones count only negative (selling) volume, while discount zones count only positive (buying) volume. These zones are key areas of interest for identifying potential price reversals or continuations based on volume pressure.
Dynamic Delta Volume Calculation:
The indicator calculates delta volume between the premium and discount zones, showing the imbalance between buyers and sellers. A positive delta volume inside the discount zone suggests strong buying pressure, while a negative delta inside the premium zone suggests strong selling pressure. This helps traders quickly identify trends or market exhaustion.
Up Trend:
Down Trend:
Real-time Updates & Equilibrium Line:
The zones update dynamically every 100 bars or after price crosses them, ensuring that traders always have the most relevant market data. The equilibrium line in the middle of the zones helps traders gauge whether the market is balanced or moving into overbought (premium) or oversold (discount) territory.
Macro and Local Period Calculations:
The indicator allows traders to customize two different periods for analysis: a smaller lookback period (e.g., 50 bars) for short-term price action and a macro period (e.g., 200 bars) for larger trends. Each period has its own premium and discount zones, allowing for a multi-timeframe view of market strength.
Macro:
Both:
Color-coded background for Volume Pressure:
The background color of the smaller period premium and discount box changes based on delta volume. A positive delta turns the background blue, indicating higher buy pressure, while a negative delta turns the background red, signaling higher sell pressure.
🔵 CUSTOMIZATION
Toggle Premium & Discount: Traders can choose to display support and resistance levels based on the high and low points of the premium and discount zones.
Premium & Discount Lookback Period: Traders can adjust the lookback period to define the length of price action to be analyzed for premium and discount zones. A shorter period focuses on more recent market activity, while a longer period provides a broader view of trends.
Macro Highs/Lows Period: The indicator also offers a macro lookback period for identifying larger market trends and key levels of buying or selling volume.
Toggle Macro Levels: Macro levels help identify long-term price extremes, and traders can toggle this feature on or off as needed.
Set Alarm for Closed Codes [Mr_Rakun]Set Alarm for Closed Codes
This Pine Script code is designed to set up alerts based on two types of conditions: Crossover or Greater-Lesser thresholds. The script's most significant feature is its ability to set alerts using external sources that the user defines for long and short positions. These sources can be any other indicator or value on the chart, giving traders maximum flexibility in choosing their alert triggers.
Crossover Condition: The script triggers an alert when the closing price crosses above or below the user-defined external sources for long and short signals.
Greater-Lesser Condition: It also allows triggering alerts when the defined input values (like 70 for greater, 30 for lesser) are crossed by the external sources.
Users can input the message for buy and sell signals (such as "BUY" or "SELL") and set custom thresholds to create more flexible alerts based on market behavior. The code also visually plots the user-selected entry sources on the chart, with the short entry source being displayed in red for easier identification.
In summary, the key feature of this script is its ability to set alerts based on external sources defined by the user, making it highly versatile for traders who want to automate alerts for specific price movements or indicator-based conditions.
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Türkçe Açıklama
Bu Pine Script kodu, iki farklı koşula dayalı olarak alarm kurmayı amaçlar: Kesişim veya Büyük-Küçük eşikleri. Kodun en önemli özelliği, uzun ve kısa pozisyonlar için kullanıcı tarafından tanımlanan dış kaynaklar kullanılarak alarm kurulabilmesidir. Bu kaynaklar, grafikteki herhangi bir gösterge veya değer olabilir, bu da yatırımcılara alarm tetikleyicilerini seçmede maksimum esneklik sağlar.
Kesişim Koşulu: Kapanış fiyatı, kullanıcı tarafından tanımlanan dış kaynakları geçtiğinde uzun veya kısa sinyaller için alarm tetiklenir.
Büyük-Küçük Koşulu: Ayrıca, belirlenen giriş değerlerinin (örneğin, büyük için 70, küçük için 30) dış kaynaklarla kesişmesi durumunda alarm tetiklenir.
Kullanıcılar, alış ve satış sinyalleri için mesajlar (örneğin, "AL" veya "SAT") girebilir ve piyasa hareketlerine dayalı olarak daha esnek alarmlar oluşturmak için özel eşikler belirleyebilir. Kod, ayrıca grafik üzerinde kullanıcı tarafından seçilen giriş kaynaklarını da çizer; kısa giriş kaynağı kırmızı renkte gösterilir, böylece kolayca tanımlanabilir.
Özetle, bu scriptin ana özelliği, kullanıcı tarafından tanımlanan dış kaynaklara dayalı alarm kurabilme yeteneği olup, belirli fiyat hareketleri veya gösterge tabanlı koşullar için alarm kurmak isteyen yatırımcılar için oldukça esnektir.
Standard Deviation-Based Fibonacci Band by zdmre This indicator is designed to better understand market dynamics by focusing on standard deviation and the Fibonacci sequence. This indicator includes the following components to assist investors in analyzing price movements:
Weighted Moving Average (WMA) : The indicator creates a central band by utilizing the weighted moving average of standard deviation. WMA provides a more current and accurate representation by giving greater weight to recent prices. This central band offers insights into the general trend of the market, helping to identify potential buying and selling opportunities.
Fibonacci Bands : The Fibonacci bands located above and below the central band illustrate potential support and resistance levels for prices. These bands enable investors to pinpoint areas where the price may exhibit indecisiveness. When prices move within these bands, it may be challenging for investors to discern the market's preferred direction.
Indecisiveness Representation : When prices fluctuate between the Fibonacci bands, they may reflect a state of indecisiveness. This condition is critical for identifying potential reversal points and trend changes. Investors can evaluate these periods of indecisiveness to develop suitable buying and selling strategies.
This indicator is designed to assist investors in better analyzing market trends and supporting their decision-making processes. The integration of standard deviation and the Fibonacci sequence offers a new perspective on understanding market movements.
#DYOR
Short-Only Cycle IndicatorThis script is a follow-up to my previous 60-day Cycle, Long-Only Indicator.
The "Short-Only Cycle Indicator" is designed to help traders navigate optimal shorting opportunities by analyzing cyclical price behavior over a defined period. It focuses on recognizing distribution phases (ideal for shorting) and accumulation phases (where shorting should be avoided). It should be used with assets that the trader has an existing thesis for downward price movement.
Key Features:
1. Cycle Length: The indicator uses a 60-day cycle to identify high and low points in price, which are then used to determine the current market phase.
2. Distribution Phase: When the price is near the cycle high, the indicator signals a distribution phase, indicating potential shorting opportunities.
3. Accumulation Phase: When the price is near the cycle low, the indicator signals an accumulation phase, advising traders to avoid shorting.
4. Short Signal: A short signal is triggered when the price crosses below the cycle high, which is visually marked on the chart for easy identification.
This indicator is particularly useful for traders who prefer a short-only strategy, as it helps them time their entries and avoid shorting during unfavorable market conditions.
---Advanced Harmonic Pattern Scanner v5Summary of the Script:
All Patterns Covered: The script includes all major harmonic patterns: Butterfly, Gartley, Crab, Bat, Cypher, and Three Drives. Both bullish and bearish versions are detected.
ZigZag Swings: The zigzag logic helps find swing points (X, A, B, C, D) which are essential for forming these patterns. You can adjust the zigzagDepth parameter to fine-tune how sensitive the pattern detection is to price swings.
Fibonacci Levels: Each pattern uses specific Fibonacci retracement or extension levels to identify potential patterns, and the script compares price movements to these ratios.
Visual Aid: It uses plotshape() to display detected patterns on the chart and optional line.new() functions to connect the swing points for a better visual representation of the patterns.
How to Customize:
Timeframe: You can run this script on different timeframes by changing the chart on TradingView (1 min, 1 hour, 1 day, etc.).
ZigZag Sensitivity: Adjust the zigzagDepth to refine how frequently swing points are detected. Larger numbers will reduce sensitivity and show fewer but more pronounced patterns.
Pattern Refinement: Modify Fibonacci levels to experiment with custom harmonic patterns or adjust thresholds for the existing ones.
This code is an advanced version and scans the market comprehensively for all major harmonic patterns. Let me know if you need further modifications or explanations!
Normalized ZScoreThe Normalized ZScore Indicator is a dynamic tool designed to help traders identify potential overbought and oversold conditions in the market. It calculates the ZScore of the price movement relative to a moving average, allowing users to track the deviation of price from its average and normalize it within a fixed range for clearer signal generation. The indicator can be used for both trend-following and mean-reversion strategies, offering customizable options for various trading styles.
How It Works
This indicator works by calculating two distinct ZScores:
Standard ZScore: Based on the price deviation from a simple moving average (SMA).
Fast ZScore: Calculated using price deviation from the SMA combined with standard deviation over a shorter period.
The ZScore values are normalized between -100 and 100, allowing for consistent and comparable signal outputs across different assets and timeframes.
Key Features
Customizable MA and Deviation Lengths: Adjust the length of the moving average (MA Length) and deviation (Deviation Length) to suit your trading needs.
Overbought/Oversold Zones: The indicator highlights areas where the market may be overbought or oversold using a user-defined threshold.
Color-Coded Signals: The ZScore plot changes color based on market conditions:
Positive ZScore (overbought) = Customizable Positive Color
Neutral ZScore = Customizable Middle Color
Negative ZScore (oversold) = Customizable Negative Color
Trend Filtering Option: The built-in trend filter helps to enhance signal accuracy by factoring in the overall market trend.
Signal Shapes:
Diamonds: Indicate strong long or short entry signals when ZScore crosses predefined thresholds.
X-Crosses: Indicate weaker long or short entry signals for users preferring caution in their trades.
Inputs
MA Length: Set the length of the moving average used for calculating the ZScore.
Deviation Length: Set the length used for deviation calculations.
OBS Threshold: Set the threshold for defining overbought and oversold zones.
Trend Filter: Enable or disable the trend filter for added signal confidence.
Color Settings: Customize the colors for positive, middle, and negative ZScore values.
Visual Features
ZScore Plot: A smooth and color-coded line plot to visualize the ZScore in real-time.
Overbought/Oversold Zones: Visualized with horizontal lines and fill colors to highlight extremes.
Bar Coloring: Bars change colors when ZScore exceeds overbought/oversold zones, enhancing visual clarity.
Signal Markers: Diamond or X-shaped markers appear on the chart to indicate potential trade signals.
How to Use
Entry Points: Look for the ZScore to cross into overbought/oversold regions for potential reversal trades. Use the diamonds and X-crosses for long and short entries.
Trend Filter: Enable the trend filter to avoid taking trades against the overall market trend.
Customize Settings: Adjust the lengths and colors to match your specific trading strategy and timeframe.
Advanced BB Bands with PlotThis code implements an advanced version of Bollinger Bands with additional moving averages, ATR-based bands, step lines, market direction indicators, and real-time data display. Here’s a breakdown of the functionality:
1. Inputs and Parameters:
length: The base period used for calculating the moving averages and the typical price.
atr_length: The length used for calculating the Average True Range (ATR).
step_length: The period for calculating step lines (highest high and lowest low over a given period).
2. Core Calculations:
Typical Price: (high + low + close) / 3 is the base for the moving averages.
ATR: ta.atr(atr_length) is used to create dynamic bands around the moving averages.
PL Dot: An average of the typical prices from the current and past two bars. This provides a short-term trend indicator.
3. Multiple Moving Averages (MAs):
Three simple moving averages (ma1, ma2, ma3) are calculated using different multiples of the base length. These help indicate short-, mid-, and long-term trends.
4. Step Lines:
Step Up: Highest close over the step_length.
Step Down: Lowest close over the step_length. These act as short-term support and resistance levels.
5. Outer Bands:
Upper Band: ma1 + 2 * ATR, an upper boundary based on ATR volatility.
Lower Band: ma1 - 2 * ATR, a lower boundary. Together, these form a dynamic range around the short-term moving average.
6. Market Direction:
Bullish or Bearish condition is determined by comparing ma1 and ma2. If ma1 is above ma2, the market is bullish; otherwise, it's bearish. This decision is displayed on the TradingView chart using a table.
7. Visual Elements:
Moving Averages (ma1, ma2, ma3): Plotted in different colors (blue, purple, white) to indicate different timeframes.
PL Dot: A step line plot for the PL Dot, which helps in spotting short-term trends.
Step Lines: Step-up and step-down levels plotted in lime and red, respectively.
Outer Bands: Upper and lower ATR-based bands plotted in aqua, with a filled region between the bands for easy visualization of price volatility.
Candlestick Coloring: Green bars for bullish and red for bearish price action.
8. Real-Time Board Display:
A table is created in the top-right corner of the chart to display:
The current closing price.
The market direction ("Bullish" or "Bearish").
The PL Dot value. The table updates on the most recent bar (barstate.islast).
9. Dynamic Labels:
On the most recent bar, labels are added dynamically to the upper and lower bands and the ma1. These labels help in identifying the values of key indicators directly on the chart.
10. Signals and Alerts:
Bullish and Bearish Cross: Visual signals are plotted on the chart when ma1 crosses above or below ma2. These are represented as up and down triangles, providing potential buy/sell signals.
Key Features Summarized:
Multi-Timeframe Moving Averages: 3 MAs based on different timeframes.
Dynamic ATR Bands: ATR-based upper and lower boundaries for volatility measurement.
Step Lines: Short-term high and low lines for support/resistance.
PL Dot: A short-term trend identifier.
Real-Time Dashboard: Live updates of price, trend, and PL Dot on the chart.
Visual Alerts: Dynamic labeling and crossover signals to assist in decision-making.
This script is designed for traders who want to track price movement within bands, evaluate trends across multiple timeframes, and visualize short-term market direction with dynamic alerts.
Multiple ATR Lines with Current Price PercentageThis indicator plots multiple lines based on the Average True Range (ATR) on the chart, helping traders identify potential support and resistance levels. Specifically, it draws three lines above the price and three lines below the price at different multiples of the ATR. Additionally, it plots a dynamic line at the current price level, which shows how much percentage of the ATR the current price has traveled from a specific point.
How it works:
ATR-Based Lines: The indicator calculates three upper and three lower levels based on the ATR of the selected period. These levels represent 1x, 2x, and 3x ATR above and below the current price.
Current Price Line: A dotted line follows the current price, displaying the percentage of the ATR that the price has moved.
Labels: Each line is labeled with its respective ATR multiple (1x ATR, 2x ATR, 3x ATR), and the current price line shows the percentage of the ATR traveled.
Use Cases:
Identifying Market Volatility: Traders can use this indicator to see how far the price has moved relative to its average volatility.
Support and Resistance Levels: The ATR lines can be treated as potential support and resistance zones, providing insight into price targets or stop-loss placement.
Dynamic Tracking: The percentage of ATR traveled helps traders understand the market momentum relative to its historical volatility.
Settings:
ATR Length: The user can adjust the length of the ATR calculation period.
ATR Multiplier: A multiplier to adjust the distance of the lines relative to the ATR.
Advantages:
Clear visualization of market volatility through ATR-based levels.
Real-time tracking of the price’s movement relative to ATR, giving traders a better understanding of price action.
Customizable settings for different trading styles.
Risk RewardThe Risk Reward indicator, developed by OmegaTools, is a versatile technical tool designed to help traders visualize and evaluate potential reward and risk levels in their trades. By comparing recent price action against moving averages and volatility deviations, it calculates a range-weighted assessment of upside reward and downside risk. It provides a clear, color-coded visual representation of these potential ranges, along with critical support and resistance levels to aid in trade decision-making. This indicator is ideal for traders seeking to optimize their risk-reward ratio and make informed trade management decisions.
Features
Reward and Risk Visualization: Provides a histogram showing the relative potential of upside reward versus downside risk based on current price action.
Dynamic Support and Resistance Levels: Calculates and plots key price levels based on extreme of historical volatility, helping traders to identify important price zones.
Trade Size Customization: Users can adjust the trade size, and the indicator will calculate and display the estimated risk and reward in monetary terms based on the contract value.
Adaptive Volatility Extensions: Automatically adjusts extension lines based on volume, helping traders anticipate future price ranges and potential breakouts or breakdowns.
Customizable Visuals: Allows users to personalize the color scheme for bullish and bearish scenarios, making the chart more intuitive and user-friendly.
User Guide
Trade Size (size): Adjust the trade size in units (default is 1). This parameter impacts the risk and reward calculation shown in the summary table.
Length (lnt): Set the length for the exponential moving average (EMA) and the highest/lowest price calculations. This length determines the sensitivity of the indicator.
Different Visual (down): A boolean input to adjust the method for calculating downside risk. When set to true, it uses a different visual scheme.
Bullish Color (upc): Customize the color of the bullish (upside) histogram and support levels.
Bearish Color (dnc): Customize the color of the bearish (downside) histogram and resistance levels.
Plots
First Probability: Displays a histogram representing the higher value between reward and risk. It is colored according to whether the upside or downside is greater, providing a clear signal for potential trade direction.
Second Probability: A secondary histogram plot that visualizes the lower value between reward and risk, offering an additional perspective on the trade’s risk-reward balance.
Low Level/High Level: Displays dynamic support and resistance levels based on historical price data and volatility deviations.
Extension Lines: Visualize potential future price levels using volatility-adjusted projections. These lines help traders anticipate where price could move based on current conditions.
On-Chart Labels and Risk-Reward Table:
Risk and Reward Calculations: The indicator calculates the monetary value of downside risk and upside reward based on the provided trade size, volatility measures, and price movements.
Risk/Reward Table: Displayed directly on the chart, showing the downside risk and upside reward in easy-to-understand numerical values. This helps traders quickly assess the feasibility of a trade.
How It Works:
Moving Average Comparison: The indicator first calculates the 21-period (default) exponential moving average (EMA). It then compares the current price against this moving average to determine whether the market is in a bullish or bearish phase.
Deviation Calculation: It calculates the average deviation between the price and the EMA for both bullish and bearish movements, which is used to establish dynamic support and resistance levels.
Risk-Reward Calculation: Based on the highest and lowest price levels over the set period and the calculated deviations, it determines the potential upside reward and downside risk. The reward is calculated as the distance between the current price and the upper resistance levels, while the risk is determined as the distance to the lower support levels.
Visual Representation
The indicator plots histograms representing the relative magnitude of potential reward and risk.
Support and resistance levels are dynamically plotted on the chart using circles and lines, helping traders easily spot key areas of interest.
Extension lines are drawn to visualize potential future price levels based on current volatility.
Risk/Reward Table: This feature displays the calculated monetary risk and reward based on the trade size. It updates dynamically with price changes, offering a constant reference point for traders to evaluate their trade setup.
Practical Application
Identify Entry Points: Use the dynamic support and resistance levels to identify ideal trade entry points. The histogram helps determine whether the potential reward justifies the risk.
Risk Management: The calculated downside risk provides traders with an objective view of where to place stop-loss levels, while the upside reward aids in setting profit targets.
Trade Execution: By visually assessing whether reward outweighs risk, traders can make more informed decisions on trade execution, with the risk-reward ratio clearly displayed on the chart.
Best Practices:
Use Alongside Other Indicators: While this indicator offers a powerful standalone tool for assessing risk and reward, it works best when combined with other trend or momentum indicators for confirmation.
Adjust Inputs Based on Market Conditions: Adjust the length and trade size inputs depending on the asset being traded and the time horizon, as different assets may require different sensitivity settings.
Donchian Channels Osciliator with MA validationWhat's it all about?
This nifty little tool, the Donchian Channels Oscillator, helps you spot when a stock might be overbought or oversold. It's like a price detective, looking for clues in the historical data to figure out if it's time to buy or sell.
How does it work?
Think of it as a seesaw. When the price is way above the Donchian Channels, it's like the seesaw is tilted too far to one side. That might mean it's time to sell before it falls. On the other hand, if the price is way below the channels, it's like the seesaw is tilted too far to the other side. This could be a good sign to buy, as the price might be ready to bounce back.
Key Points:
Donchian Channels: These are like safety nets. They're calculated based on the highest and lowest prices over a certain period.
Oscillator: This is just a fancy word for a tool that swings back and forth. In this case, it swings between overbought and oversold zones.
EMA-Line: This is a smoothed-out version of the oscillator. It helps you see the overall trend more clearly.
How to Use It:
Add it to your chart: Find it in the indicator search bar.
Adjust settings: You can tweak the length of the Donchian Channels and the offset to fit your trading style.
Watch the swings: When the oscillator goes way up, it might be time to sell. When it goes way down, it might be time to buy. But always use this with other indicators for confirmation.
Remember: This is just a tool, not a magic crystal ball. Don't rely solely on it for trading decisions. Always do your own research and consider other factors.
Happy trading!
