Bias Master SystemName: Bias Master System
Category: Bias (Template/Master).
Operating mode: enters and exits at specific times of the day
Trades duration: a few hours, usually intra-day.
Timeframe: 1H.
Suggested usage: in markets where hourly biases are present.
Entry: enters long and short in predefined times, with possibility to manage trend or volatility filters.
Exit: exits in predefined times.
Usage: It can be used in a variety of ways:
- Together with the Bias Analyzer to quickly check the Bias found by the tool. This allows you to create profitable strategies in less than an hour, as an example the starting point with the Analyzer
- The strategy itself can be used to study the market for interesting biases.
- The strategy can be used as a starting code for the development of one's own strategies.
A tutorial with working examples on BTC and ETH is also available and will be provided with the access.
Configuration:
- Long Trades: possibility to specify two long trades configuration and filter them by day of the week, trend or volatility.
- Short Trades: possibility to specify two short trades configuration and filter then by day of the week, trend or volatility.
- Backtest dates: for splitting the available data in develop, test and validation.
- Results table: possibility to specify decimal precision and Dark Mode
Credits:
- QuantNomad for Results Table
Backtesting:
⁃ Exchange: BINANCE
⁃ Pair: ETHUSDTPERP
⁃ Timeframe: 1H
⁃ Fee 0.025%
Bias
Bias Pivot PointA simple indicator that uses Pivot Points as a filter and to generate a Directional Bias .
How to use this indicator?
1. Directional Bias
Bullish => Closing Price > Pivot Point
Bearish => Closing Price < Pivot Point
2. Support / Resistance
Each Pivot Points can be used as Support or Resistance
3. Take Profit Targets
Each Pivot Points can be used as targets for taking profit
Hourly Bias on BTC in Bullish USA Session “Green Eagle”Name: Hourly Bias on BTC in Bullish USA Session
Category: Hourly Bias
Operating mode: Spot, only long
Trades duration: Intraday, 11 bars
Timeframe: 1H
Suggested usage: When the market is compressed, USA session has a bullish bias.
Entry: enter Long at 15:00 on specific days of the week. There is a volatility filter based on ATR which identifies compression.
Exit: exit at a pre-defined time at 01:00
Usage:
⁃ It can be useful to use alerts or webhooks to automate this strategy.
⁃ This is a core system that can be improved in different ways (e.g. Stop-loss, take-profit, position sizing) or studying more the behaviour in the specific days of the week or short when is red.
Configuration:
- N/A
Backtesting
⁃ Exchange: BINANCE
⁃ Pair: BTCUSDT
⁃ Timeframe: 1H
⁃ Fee 0.075%
⁃ Slippage 2
- Start : 2019-01-06
We decided to release this free BTC strategy.
How you or we can improve? Source code is open so share your ideas!
[LanZhu] - Bias With DivergenceDescription
Bias is also known as deviation rate which is a technical index derived from the moving average principle. Its function is to measure the deviation degree between the stock price and the moving average line in the process of fluctuation.
Usage
Generally ,
Moving averages of period 6,12,24 and 72 are used in the calculation. Of course, it is adjustable and result in different sensitivity of the deviation rate.
When the stock price is above the moving average, it is positive.
When the stock price is below the moving average, it is negative.
When the stock price is consistent with the moving average, it is zero.
Example,
1. During weak market, we may take when 6-day deviation rate cross both 5 and -5 level to indicate possible overbought and oversold respectively. Reversal or rebound might happen.
2. During strong market, we may take when 6-day deviation rate cross both 8 and -8 level to indicate possible overbought and oversold respectively. Reversal or rebound might happen.
3. When all the bias lines are moving upward and across 0 line, a strong bullish trend might formed and Vice Versa for strong bearish trend
4. Divergence also added to find possible bull or bear reversal on the default bias period which is configurable.
Volume BiasHere’s an indicator that calculates the difference between the average distance we need to look back to find the up and down volume equal to the total volume of the last n bars. The further we need to look back to find the up or down volume, the more bearish or bullish its value is.
A not-yet published indicator from the PS-V5 blog!
Bias(Deviation Rate)Deviation rate (BIAS), by calculating the distance between the closing price and a moving average to reflect the reversal created by the degree of deviation between the price and the moving average during a certain period of time.
Above the zero axis is called positive deviation and belongs to the bullish zone, while below the zero axis is called negative deviation and belongs to the bearish zone.
Regardless of whether it is a positive deviation or a negative deviation, whenever the gap between the stock price and the moving average becomes larger, it means that the stock price has an overbought/oversold condition, and a high probability will result in a reversal.
RexDog Trade System FoundationThis indicator contains the foundation indicators used when adopting the RexDog Trading System.
The RexDog Trading System uses simple rules, probability, and key areas of market reaction to reverse engineer momentum within the market. These common rules and reactions are shared across all chart types, markets, and timeframes.
The foundation of the philosophy comes from using simple indicators, probability, and rules to answer the 3 questions of trading:
Where is price coming from?
Where is price going?
How does it want to get there?
* note: you should really be asking the 2nd question first.
This indicator contains the core bias and momentum indicators that provide you an edge when adopting the system.
The general philosophy of the trading system is that there are areas in all markets where momentum will be challenged or confirmed. Using various combined elements of this indicator provides you the general ranges of price where you expect a reaction. A reaction is either a confirmation and continuation of momentum or a stall and reversal of momentum.
Another important element of the trading system is the concept of intention. Using simple rules and the elements of this indicator provide you with a general range of where you will look for the intention of future price action.
Before I describe the components of this indicator and general usage I will mention that I use the term “algo” to define all market participants—all the way from the retail trader, hedge fund, big banks, ETFs, family offices, to secret algorithms in underground bunkers we will never know about.
First up here is what is contained within this indicator:
RexDog Average with ATR bands and Extreme ATR Bands – used to define bias within the market or timeframe
3 Momentum EMAs – these are used to define short term momentum
24/9 Avg – You also have the option of having a 24/9 EMA average and an option of turning off the 24/9 EMAs. This also has a plot color change on 9EMA above 24EMA = purple, 9EMA blow 24EMA = fuchsia
2 Simple Moving Averages – 1 short for momentum confirmation and 1 long for bias confirmation
200 options - Ability to plot the 200 AVG (see line below), 200 SMA, or 200 EMA individually. Also option to plot both the 200 SMA (red) and 200 EMA (green)
200 Avg – This plot is an average of the SMA200 and the EMA200. There is also a plot color change based on EMA above SMA = Green, EMA blow SMA = Red.
vWAP – the standard vWAP is added to the foundation as it plays a dual role of confirming both momentum and bias.
Info Panel – This info panel displays the current price, percentage, and ATR of all indicators in the foundation. It also includes a AVG line as well.
* Info panel is turned off by default
Indictor with Info Panel:
Indicator and Trade System Usage and Tips
Now let’s move onto the value of this indicator, how it is unique, and its usage.
The RexDog Average with ATR Bands and ATR Extreme Bands
The RexDog Average (RDA) is a bias-moving average indicator. The purpose is to provide the overall momentum bias you should have when trading an instrument. It works across all markets and all timeframes.
Usage:
Price above the RexDog AVG = long momentum bias
Price below the RexDog AVG = short momentum bias
Under the Hood:
This is so simple most reading this will discount it. The RexDog Average has been tested across all markets—FOREX, Crypto, Equities, Futures (even tick charts), and even the Penguin population in Antarctica.
The RexDog Average is an average of 6 simple moving averages: 200, 100, 50, 24, 9, 5.
There are 2 ATR bands, one above and one below. Just as with the RexDog Average we take the 6 ATR data points (200, 100, 50, 24, 9, 5). We then create an average by dividing by 6. Then add it to the price.
These ATR bands are also used as high probability reaction points.
Exponential Moving Averages
This indictor contains 3 EMAs that are used primarily for short-term momentum.
Usage of these EMAs are not simple cross signals. While crosses of the EMAs are important and do reveal the general story of the chart and momentum in the trading system they are more used as general areas of reaction points.
If the faster EMAs are below the slower EMA then generally we would refer to the algo as being momentum short. Momentum long would be the reverse.
When you combine the EMAs with the RDA you have both momentum and bias defined or at the very least you have high probability areas where momentum will be checked and a reaction is probable.
Moving Averages
There are 2 moving averages in the system foundation.
The 5 is for short-term momentum and high volatility confirmation. The 200 is the standard 200 used in many trading systems.
The 200 MA/EMA average is used in conjunction with the RDA to confirm market bias. Also, it provides a high probability area of market reaction.
The 200 is represented as the average between the 200 simple moving average and the 200 exponential moving average.
The color change in the 200 AVG is as follows. When the 200EMA is above the 200SMA the average line is green, Red when the 200EMA is below the 200SMA.
vWAP
The standard vWAP is also used in the trade system. As most traders who refer to or use the vWAP in their trading know this indicator provides a general area of market reaction. You will often see a check-in at the vWAP for a continuation or confirmation of momentum. Also if price breaks thru the vWAP you can look at this as a breakdown of momentum and an intention of where price might want to eventually go.
Putting it all Together
Before we put it all together, I should also mention that in the trading system there are only 2 types of trades you will do:
Momentum – trades that align with the momentum of the indicator and timeframe
Fade – trades that are against one or multiple indicators and the timeframe
The general usage of this indicator comes from using these as general areas where you expect price to have a reaction.
It starts with the RDA and defining the probability of bias in the market. The general philosophy here is the market will stay in that momentum state until it doesn’t. If the momentum bias is short and the price closes above the RDA then the momentum would be considered bias long. You’re then looking for follow thru and confirmation on following candles.
With bias defined you can then start to analyze and look for areas of reaction using the other indicators in the foundation.
Simple usage is if price is bias short and below the momentum EMAs you would expect a reaction when price comes up to the general area of the EMAs. Also, if the EMAs are confirming the momentum short the best trade is to trade with momentum.
Usually in the situation where all indicators are pointing to one momentum direction there are opportunities to do fade trades. These fade trades are typically when price is extended away from the key indicators. Your expectation in these trades is that price will snap back to test momentum and have some form of reaction at a key indicator area.
Additional usage is analyzing how all elements of this indicator are positioned from one another. For instance, the further the momentum EMAs get from the RDA provides a larger probability that price will eventually want to come and test the RDA area or a lower or upper ATR band of the RDA.
The information panel provides key data points on helping with this analysis.
In closing:
Simple trading typically works. While this indicator contains what some would consider basic market indicators it’s the rules, philosophy, and probability that provide the edge. When these indicators are combined as one and looked at as a whole to define momentum, reaction, and intention in the market it can provide an edge for answering the 3 key questions in trading.
RexDog Market BiasThe RexDog Market Bias takes the RexDog Foundation Base Indicators and applies weighted rules to provide a single percentage bias result based on the chart and timeframe you are looking at.
This should be combined with the RexDog Foundation.
* Consider this a Beta release with many improvements on the way. Also, realize at this time there are no hard rules on using this indicator-- but if you have a basic understanding of the RexDog System you will immediately see it confirms what you see on the chart. Also it will provide some gut checks when you get used to reading the indicator over time. In our initial beta testing, we've found it incredibly useful at a glance.
Indicator Overview
The base teal line is the bias rating.
On top of that you have the option (on by default) of having the m9, m24, and RexDog Average plotted based on this data point.
From there you have Long and Short bias with key 25% increments highlighted. These appear to be important turning points or momentum check-ins for the algo.
That's right these same highly reliable signals you use within the RexDog Trading System also work on the RexDog Market Bias. The same rules apply.
This is much more than an oscillator. It's combining all the RexDog Foundation and applies some initial smart rules to it. Further versions will build upon this.
General Usage:
Fades - when the market is at extremes these are potential signals for high probability fades
Momentum - when the market is coming from an extreme on a pullback to key levels (25, 50, 75) start to look for momentum entries
Don't argue with the chart. If momentum is over 50% look for confirmation from RexDog Trading Rules. The probability that momentum will continue is high when it's between 50-65%.
More rules to come. Finally, share your own findings in the DEN.
RexDog Average with ATRBam-- look what Rex did. A RexDog Average with ATR bands-- he's going insane. Simple but powerful.
This indicator includes the RexDog average but provides you with the ability to plot (and customize) both above and below ATR calculated bands.
With this indicator you can display all 3 or any combination of the bands: the RexDog Avg, Adding ATR Upper or the Subtracting ATR Below.
To remove a plot or customize color and line size go to the style options.
Before we get detailed with this version you can customize the default average factor of the RexDog Avg (default is 6). More tips on this below.
How This Works
Just as with the RexDog Average we take the 6 ATR data points (200, 100, 50, 24, 9, 5). We then create an average by dividing by 6. But wait there's more...
With this indicator you can customize independently the above and below bands via a float value for precision. 6 is the default (you can customize by increments at 0.25 or input value you like 1-20).
Now this works opposite how you might think but you'll get it once you start changing the numbers. For instance, editing the above band lowering the ATR factor will raise the band.
RexDog Avg Factor
With this release you are able to change the default average factor (6) to anything you want. You'll find though going too high or low from the default won't get the best results. The default increment change is 0.1 but you can enter any float value you like between 1-20.
The Original RexDog Average Overview
Yes, simple—the RexDog Average is a bias moving average indicator. The purpose is to provide the overall momentum bias you should have when trading an instrument. It works across all markets and all timeframes.
Usage:
Price above the RexDog AVG = long momentum bias
Price below the RexDog AVG = short momentum bias
With the ATR addition most likely your usage will be similar to Bollinger Bands. While not the same as in deviations much of the same principles might apply, especially with customization.
*Note: we have banned the word “trend” in the RexDog Trading Method.
Additional Usage Advice:
If price rips through the average your momentum bias should probably change. 80% of the time when price moves through the RexDog Average it will come back and test the area around average within 1-2 bars. 20% of the time it does not. The momentum is so strong in that direction so look for a 50-70% tests of the bar that impulse through the RexDog Average.
If you are using the RexDog Trading Method by default if the price is above the average and you are short you are in a fade trade. The momentum trade would be long. Of course reverse if price is below.
On multiple time frames. Of course, one timeframe can be long bias and a lower timeframe can be short bias. Which one do you use? Both—if your in a short trade using lower timeframe and with the bias of the average your in a momentum trade—but on the higher timeframe your aware you are essential fading the overall momentum.
Background:
Rex and I searched high and low for one simple thing. A moving average (or combination of some) that we could use to form our momentum bias that worked for all timeframes and all markets we trade.
We tried and tested them all. Even went down the path of ribbons and various other types of hybrid EMA /MA derivatives. Nothing had a high enough accuracy or mathematically was reliable that we could say with a high probability that it was on the right side of the momentum.
We almost stopped and landed on using the true and tested 200 MA—but we found through extensive tests that using the 200MA or EMA you’re often late to the party. Look you don’t need to be the first one in the trade but having a heads up sure helps.
To quote one of the best financial movies of the modern era—Margin Call:
“There are three ways to make a living in this business: be first, be smarter, or cheat… it sure is a hell of a lot easier to be first”. The RexDog Average used properly enables you to be first or damn near close.
Under the Hood:
This is so simple most reading this will discount it. You might even scoff and berate Rex for wasting your time. But you would be wrong. The RexDog Average has been tested across all markets—FOREX, Crypto, Equities, Futures (even tick charts), and even the Penguin population in Antarctica.
The RexDog Average is an average of 6 simple moving averages: 200, 100, 50, 24, 9, 5.
Yes, that’s it.
RexDog AverageYes, simple—the RexDog Average is a bias moving average indicator. The purpose is to provide the overall momentum bias you should have when trading an instrument. It works across all markets and all timeframes.
Usage:
Price above the RexDog AVG = long momentum bias
Price below the RexDog AVG = short momentum bias
*Note: we have banned the word “trend” in the RexDog Trading Method.
Additional Usage Advice:
If price rips through the average your momentum bias should probably change. 80% of the time when price moves through the RexDog Average it will come back and test the area around average within 1-2 bars. 20% of the time it does not. The momentum is so strong in that direction so look for a 50-70% tests of the bar that impulse through the RexDog Average.
If you are using the RexDog Trading Method by default if the price is above the average and you are short you are in a fade trade. The momentum trade would be long. Of course reverse if price is below.
On multiple time frames. Of course, one timeframe can be long bias and a lower timeframe can be short bias. Which one do you use? Both—if your in a short trade using lower timeframe and with the bias of the average your in a momentum trade—but on the higher timeframe your aware you are essential fading the overall momentum.
Background:
Rex and I searched high and low for one simple thing. A moving average (or combination of some) that we could use to form our momentum bias that worked for all timeframes and all markets we trade.
We tried and tested them all. Even went down the path of ribbons and various other types of hybrid EMA/MA derivatives. Nothing had a high enough accuracy or mathematically was reliable that we could say with a high probability that it was on the right side of the momentum.
We almost stopped and landed on using the true and tested 200 MA—but we found through extensive tests that using the 200MA or EMA you’re often late to the party. Look you don’t need to be the first one in the trade but having a heads up sure helps.
To quote one of the best financial movies of the modern era—Margin Call:
“There are three ways to make a living in this business: be first, be smarter, or cheat… it sure is a hell of a lot easier to be first”. The RexDog Average used properly enables you to be first or damn near close.
Under the Hood:
This is so simple most reading this will discount it. You might even scoff and berate Rex for wasting your time. But you would be wrong. The RexDog Average has been tested across all markets—FOREX, Crypto, Equities, Futures (even tick charts), and even the Penguin population in Antarctica.
The RexDog Average is an average of 6 simple moving averages: 200, 100, 50, 24, 9, 5.
Yes, that’s it.
The RexDog Average Plus will be released soon with additional parameters and most likely upper and lower bounds. In addition, we are working on a hybrid RexDog Exponential Average.
B3 HL2MA Painter ~ Extremely Smooth Average & Bar PaintMy HL2MA is a 'proprietary' formula based on the idea that I never again want to see a jagged average line. I released a version of this a long time ago, but I wanted to update it to how I have it on my charts in other platforms. Here are some notes about this moving average script:
The default input value is 5, and I suggest the range of use 4-6 with the rare occasion of using 3 or 7.
For me 5 is what I use UNLESS I AM IN A TRADE, then I might switch to 4 if I have some profits to lock, or 6 if I want to stay in for a lengthier trade.
This average when kept within the above parameters is the smoothest MA in my arsenal, HL2 refers to the middle of the candles which further de-noises the line.
The colors are green/red for good movement with the confirmed trend.
The colors are gray for movement against the current trend (signaling a possible mean reversion)
The colors blue & yellow appear when signaling possible chop or trend exhaustion.
Carried forward from the last time I posted this, the bias for longs and shorts is depicted as the color of the average line green or maroon, and ALERTS are based on that overall bias created the line by itself.
Also carried from the last post, the green and maroon clouds depict the price deviance from the line; when the cloud stretches wide it may be time to take profits and enter back in closer to the line.
Thanks again for liking and following!!!!
This share is in response to my 10,000th like on TradingView!
Favorite this one, and enjoy :-)
[blackcat] L3 Bias ScalperLevel: 3
Background
Bias alone is a powerful tool for trading. I use SMA3, SMA10, SMA20, SMA30 to cover short and middle term of the trend for scalping. Multiple biases can be introduced for long and short entries.
Function
Use SMAs and biases for scalping with whale move alert (banker fund flow detection)
Key Signal
buy --> entry signal for long
strongbuy --> entry signal for long
add --> buy more or re-entry signal for long
reduce --> partial exit for long
exit --> complete exit for long
sell --> short entry signal
whalemove --> banker fund move detection
Pros and Cons
This script provides entry signal together with whale detection by bias algorithms, you can use whale move to predict next move of trend in large time frame. However, trading signal should be further filtered out for more precise entry signal.
Remarks
At beginning, I want to make it simple and it looks very complex at the end...
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.
EMA Cor Bias [Intromoto]I wanted a way to be able to see whether a separate security was above/below its own EMA(s) and to see those EMA crossovers on a correlated asset.
This script shows barcolors for directional bias of any chosen asset (manual ticker input) according to whether its price is above, below, or between two EMAs. This also includes a candle close requirement of 15 minutes. I use this tool for scalping on lower time frame and so will be able to see a more significant candle close resolution of the external asset.
For example, when BTC price of a given timeframe has closed a 15 minute candle above both BTC EMAs the current chart will barcolor teal, when below both on 15 min candle close, pink, with transition colors black and orange as price is between EMAs.
I've also included a crossover plotshape for when the external asset EMAs crossover/crossunder on the 15 minute candle close.
User can also change whether to simplify the strategy and use only the slow EMA for a three color bias, Teal - bullish, Black - neutral, Pink - bearish. Further experimentation will be made and I'll update accordingly.
DM me for access
Thanks!
[blackcat] L2 Composite SMA and BIAS ScalperLevel: 2
Background
A simple moving average (SMA) calculates the average of a selected price range, usually closing prices, based on the number of periods in that range. A simple moving average is a technical indicator that can be used to determine whether an asset price is holding a bull, a bear, or is reversing.
The bias shows the moving average rate of deviation. Also known as the rate of deviation, or y-value for short, is an indicator that reflects the degree of deviation between the price and the SMA over a given period by calculating the percentage difference between the market index or the closing price and a moving average to allow for receive that the price reverses or recovers due to a deviation from the moving average trend with strong fluctuations and the price moves within the normal fluctuation range Build credibility to continue the original potential.
Function
L2 Composite SMA and BIAS Scalper is mainly based on a cluster of simple moving averages and their bias values to produce long and short entry points. Three different strategy to generate long and short entries are demostrated together. That is why this is called "Composite".
Key Signal
botsig --> indicating bottom zone
topsig --> indicating top zone
buysigI --> long entry type I
buysigII --> long entry type II
buysigIII --> long entry type III
selsigI --> short entry type I
selsigII --> short entry type II
selsigIII --> short entry type III
Pros and Cons
Pros:
1. common sma(), rsi() and bias() are utizlied to generate exact long and short entries
2. alerts for bottom and top zones
Cons:
1. SMA parameters may need optimization for specific trading pairs
2. No stop loss or take profit scheme is introduced.
Remarks
This is promising but need efforts to refine it.
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.
Directional Bias OverlaySimple indicator that keeps track of your thoughts on directional bias from the Monthly Timeframe down to the 1 Hour Timeframe. Features include:
Toggle Timeframes On or Off
Keep Track Of Up To 10 Currency Pairs At A Time
Adjust The Offset From Price So The Indicator Is Out Of The Way
Trends & RangesTrends & Ranges uses EMA ATR bands as a SuperTrend indicator.
How to use:
This indicator can be used to give you a direction bias, with the added function to create ranges which often lead to reversals or flat trading periods. Trade the break-out or wait for pull backs in the direction of the trend.
I'm not great at explaining stuff and will probably make things only more complicated, so I won't bother for now,
but if you have a question on how the script works I will gladly give it a try.
The option "Flexible Trends" will disable the min/max function (trailing or non trailing).
Flexible Trends enabled:
Flexible Trends disabled:
Settings are not optimized for any asset or time frame, you will have to do that for yourself. Feel free to share them in the comments.
Thanks for showing interest, enjoy and good luck! :)
TradeChartist TrendStalker - Market Bias Indicator™TradeChartist TrendStalker helps visualise the Market Bias through 3 different Plot types and also displays Trend Direction Identifier (Green, Red and Orange square blocks) that can be connected to ™TradeChartist Plug and Trade to generate Trade entries, Targets, StopLoss and create alerts based on performance on the chosen timeframe. The three plot types are as below.
1. Market Bias Strength Oscillator
Plots true strength of Market Bias - helps determine if Market is Bullish/Bearish overall for the asset on chart TF.
2. Market Bias Detector - Range Based
Displays TrendStalker plots stalking the Market Bias based on Range the Market is expecting to gain/lose from the asset on the Chart Timeframe. Change in Market Bias can be easily seen through the Convergence/Divergence of the TrendStalker plots.
3. Market Bias Detector - Price
Displays TrendStalker plots stalking the Market Bias based on Price for the asset on the Chart Timeframe. Change in Market Bias can be easily seen through the Convergence/Divergence of the TrendStalker plots.
Note: Trend Direction Identifier for Trade entries will be the same for Market Bias Detector plots, but differs from Market Bias Strength Oscillator.
Note: Trend Direction Identifier plots orange squares when its detecting a potential change in trend and its recommended to close some/most of the position or move Stop Loss to protect profit/reduce risk. Once the orange squares turn back into green/red squares, it signals safe re-entry.
Green squares - Bullish Trend
Red Squares - Bearish Trend
Orange Squares - Potential change in Market Bias
===================================================================================================================
TrendStalker Cool Extras
Option to paint Background Color
Option to enable Take Profit bar recommendation (Works only with Market Bias Strength Oscillator)
Option to paint Price Bars using Market Bias Strength
Alerts can be created for Long/Short Entry/Re-entry and Long/Short SOS signals (Orange squares). For all other alerts, ™TradeChartist Plug and Trade can be used.
BTC 1hr Chart with TrendStalker Extras
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BTC 1hr Chart with TrendStalker connected to ™TradeChartist Plug and Trade
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This is not a free to use indicator. Get in touch with me (PM me directly if you would like trial access to test the indicator)
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Separated Moving Average [2] - evoThis is an updated version on one of my previous scripts. Small explanation in the description.
This new script gives you a direction bias based on closing above and below the lines, with an option to filter fake signals by waiting for one more candle close.
Also added more moving averages compared to the first script (built ins + donchian)
Hope you like it!
(If you're a coder with a slightly larger brain than me, please tell me in the comments if I fixed the repainting problem correctly, I'm not 100% sure..)
Basic BIASBasic BIAS
Deviation rate (bias), also known as deviation rate, or y-value for short, is an indicator to reflect the deviation degree between the price and MA in a certain period of time by calculating the percentage difference between the market index or closing price and a moving average, so as to obtain the possibility that the price will reverse or rebound due to deviation from moving average trend in case of severe fluctuation, and that the price will move within the normal fluctuation range Form the credibility of continuing the original potential.
The deviation rate is a percentage of the deviation degree (gap rate) between the price and ma.
The departure rate curve (bias) is a curve that connects the values of each bias into a line and obtains a wave extension curve with the value of 0 as the horizontal axis.
[LunaOwl] Moving average Bias Ratio作品: 均線乖離率 (Moving average Bias Ratio)
The concept of Moving average Bias Ratio is according to the difference between the long/short-term MA changes, determine the direction of buy or sell. Long if the short-term MAs is above the long-term MAs; Conversely, if the short-term MAs is below the long-term MAs, it is not held.
均線乖離率的概念，是根據長短期均線變化之間的乖離來確定多空方向。如果短期高於長期，則買進；相反的～如果短期低於長期，則空手。
Using the deviation rate alone will have the disadvantage of unclear signals, which can only explain the increased chance of market reversal. It needs to cooperate with the rule of thumb and other analytical tools.
單獨使用乖離率會有信號不明確的缺點，只能解釋市場發生反轉的機會增加，需要配合經驗法則和其他分析工具。
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Formula - 公式
Avg. BIAS = ( MA(short) - MA(long) ) ÷ MA(long) × 100 %
均線乖離率 ＝（短期平均－長期平均） ÷ 長期平均 × 100 %
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The greater the distance between the two moving averages, the greater the Bias Ratio.
W5T Bias v2The Bias indicator is a sub-chart allowing the users of the main B.I.T.S (Breakout Intelligent Trading Signals Indicator) suite. This Bias indicator automatically looks at a higher time frame and indicates bullish , neutral and bearish Bias. This is respect to our 3 points of control EMA´s.
Check out our signature to learn more!
Zahorchak MeasureCreator: Michael G. Zahorchak.
References:
The Art of Low Risk Investing by Michael G. Zahorchak, 1977. Unfortunately, it's all but impossible to find a copy these days.
The Complete Guide to Market Breadth Indicators by Gregory L. Morris, 2006. A fantastic resource for those interested in Technical Analysis or creating their own trend based system.
Two articles by Greg Morris on the Zahorchak Measure. I can't link to them under the House Rules, but they are easily searchable.
The Zahorchak Measure (ZM) is designed to give you a market bias (either uptrend or downtrend) which you can use to determine a trade bias for ETF's or stocks.
ZM works by taking multiple moving averages of the NYSE Composite, a moving average of the NYSE advance decline line, and examining the relationship between those elements. Broadly, the market is considered to be in a uptrend when ZM is above zero, and a downtrend when below. However, there are many ways to interpret the indicator.
The version created by Greg Morris is more akin to a binary indicator in that ZM jumps from number to number. This version is smoothed to create an oscillator as it reduces whipsaws (at the expense of lag). You can set the EMA Length to 1 to go back to the original.
Some notes:
Michael Zahorchak called it the "Zahorchak Method", whereas Greg Morris uses the term "Measure". I'm not totally clear on the change, but Mr. Morris made some changes (covered below), so that may explain the altered name.
The original indicator used moving averages of 5, 15, and 40 weeks. I have converted these to daily numbers as that's the time frame I most commonly trade. You can convert the numbers back by dividing by 5.
The original indicator used the Dow Industrials for the moving averages, however Greg Morris switched to the NYSE Composite due to the advance decline line being based on the NYSE.
Greg Morris removed the 5 period moving average of the NYSE Composite, as it created increased volatility at market tops and bottoms. I tested ZM with the 5 period MA added back in, and I believe removing it creates a superior indicator.
I've added both Multi Time Frame functionality, and the ability to alter moving average lengths. Play around and see what you can come up with.
ZM oscillates between -10 and +10. There are some interesting levels creating between these two numbers (apart from the obvious zero level) - see what you can come up with.
All credit goes to Michael Zahorchak and Greg Morris for the indicator creation. I have simply reproduced their work for the TradingView community as this great indicator wasn't available.
Any queries let me know in the comments or PM me.
DD.
Bias And Sentiment Strength (BASS) Indicator by mattzabBias And Sentiment Strength (BASS) Indicator is designed to be a quick visualization as to the market strength.
Pair with Alligator, MACD, or Moving Average lines on your chart for good results.
How to use this indicator:
Blue above 0 is positive sentiment, red below 0 is negative sentiment.
If you have blue above and red below, be cautious! The Bass is telling you that we have a battle between the Bulls and the Bears!
The purple bars are your volume bias. Volume bias can be positive or negative, despite the direction of the overall trend. Positive Volume Bias along with Bullish Blue Sentiment is a great sign! Go Long! If you have Bullish Sentiment and have a negative Volume Bias, be cautious! Price may not be moving with much conviction, and may be subject to reversal!
This is basically several different histograms overlaying one another, and they are blue above 0 and red below 0.
MACD Histogram - Standard MACD Histogram here.
RSI Histogram - This is a standard RSI. It has been adjusted to "oscillate" above and below zero, which would be the 50 line on a normal RSI chart.
Slow Stochastic Histogram - This is a slow stochastic with a 21 Period K, 14 Period D, and 14 Smoothing K. The "oscillator" histogram is formed by subtracting K from D.
Awesome Oscillator - This is a standard Awesome Oscillator
Alligator Oscillator - This is formed by adding (lips + teeth) + (teeth - jaw)
Volume Bias - The Volume Bias is displayed as purple bars, and is calculated by a highly sophisticated and complex algorithmic function called subtraction. It's just the 30 Period Volume-Weighted Moving Average Minus the 30 Simple Moving Average.
Enjoy!
