Dynamic TestingInput Parameters
`lookbackPeriod` : Number of candles to check for determining the highest high (resistance) and lowest low (support) levels.
`atrPeriod` : The period for calculating the Average True Range (ATR), a measure of market volatility.
`atrMultiplierSL` : Multiplier to calculate the stop-loss distance relative to the ATR.
`atrMultiplierTP1` and `atrMultiplierTP2` : Multipliers to calculate two take-profit levels relative to ATR.
`rewardToRisk` : The ratio between reward (profit) and risk (stop loss) for trade management.
---
Core Calculations
ATR (Average True Range)
atr = ta.atr(atrPeriod)
ATR is computed using the specified period to gauge price volatility.
Volume SMA
volumeSMA = ta.sma(volume, atrPeriod)
The script calculates the simple moving average of volume over the same period as ATR. This is used as a threshold for validating high-volume scenarios.
---
Support and Resistance Levels
`support` : Lowest price over the last `lookbackPeriod` candles.
`resistance` : Highest price over the same period.
`supportBuffer` and `resistanceBuffer` : These are "buffered" zones around support and resistance, calculated using half of the ATR to prevent false breakouts.
---
Entry Scenarios
Bullish Entry (`isBullishEntry`)
The close is above the buffered support level.
The low of the current candle touches or breaks below the support level.
The trading volume is greater than the `volumeSMA`.
Bearish Entry (`isBearishEntry`)
The close is below the buffered resistance level.
The high of the current candle touches or exceeds the resistance level.
The trading volume is greater than the `volumeSMA`.
---
Box Visualization
Bullish and Bearish Boxes
Bullish Box (`bullishBox`):
- A green, semi-transparent rectangle around the support level to highlight the bullish entry zone.
- Dynamically updates based on recent price action.
Bearish Box (`bearishBox`):
- A red, semi-transparent rectangle around the resistance level to highlight the bearish entry zone.
- Adjusts similarly as price evolves.
---
Stop Loss and Take Profit Calculations
Bullish Trades
Stop Loss (`bullishSL`): Calculated as support - atrMultiplierSL * ATR .
Take Profit 1 (`bullishTP1`): support + rewardToRisk * atrMultiplierTP1 * ATR .
Take Profit 2 (`bullishTP2`): support + rewardToRisk * atrMultiplierTP2 * ATR .
Bearish Trades
Stop Loss (`bearishSL`): resistance + atrMultiplierSL * ATR .
Take Profit 1 (`bearishTP1`): resistance - rewardToRisk * atrMultiplierTP1 * ATR .
Take Profit 2 (`bearishTP2`): resistance - rewardToRisk * atrMultiplierTP2 * ATR .
---
Visualization for Key Levels
Bullish Scenario
Green lines represent `bullishTP1` and `bullishTP2` for profit targets.
A red line indicates the `bullishSL` .
Labels like "TP1," "TP2," and "SL" dynamically appear at respective levels to make the targets and risk visually clear.
Bearish Scenario
Red lines represent `bearishTP1` and `bearishTP2` .
A green line marks the `bearishSL` .
Similar dynamic labeling for `TP1` , `TP2` , and `SL` at corresponding bearish levels.
---
Dynamic Updates
Both the entry boxes and key level visualizations (lines and labels) adjust dynamically based on real-time price and volume data.
---
Purpose
Identify high-probability bullish and bearish trade setups.
Define clear entry zones (using boxes) and exit levels (TP1, TP2, SL).
Incorporate volatility (via ATR) and volume into decision-making.
---
Technical Summary
Dynamically visualize support/resistance levels.
Set risk-managed trades using ATR-based stop-loss and profit levels.
Automate visual trade zones for enhanced chart clarity.
---
Chỉ báo Độ rộng
ORB VTOpen range breakout in all time frame
You can customise timeframe
Easily understand
Waiting for buffer
Alert func there
Kutty magicKey Features:
Combines Ichimoku-based strategies with trend-based levels.
Highlights market trends and key price levels.
Dynamically adjusts visuals to show strength and direction of trends.
Provides gradient-colored candles to reflect momentum.
BR Relative StrengthI.D. Relative Strength Easily with this indicator.
Bright green is increasing bullish relative strength.
Dark green is fading bullish relative strength.
Bright red is increasing bearish relative weakness.
Dark red is fading bearish relative weakness.
LEO JR TSI - AtualizadoLEO JR TSI - Atualizado LEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - AtualizadoLEO JR TSI - Atualizado
Advanced MVRV Trend AnalyzerThe "Advanced MVRV Trend Analyzer" is a sophisticated trading tool designed for the TradingView platform that enhances traditional Market Value to Realized Value (MVRV) analysis. It provides a multi-timeframe perspective of market valuation dynamics by comparing the current market price to the realized price across short-term, mid-term, and long-term cohorts. This indicator is particularly useful for cryptocurrency traders and investors who seek deeper insights into potential overvaluation or undervaluation conditions in the market.
Key Features
Multiple Timeframes:
Analyzes market conditions across three distinct timeframes: short-term (14 days), mid-term (50 days), and long-term (200 days).
Moving Averages: Includes moving averages for each MVRV ratio to smooth out short-term fluctuations and highlight longer-term trends.
Dynamic Thresholds: Provides dynamic color-coded backgrounds that highlight overvalued and undervalued market conditions based on predefined thresholds.
How to Use
Adding the Indicator:
Open your TradingView chart.
Click on "Indicators" at the top of your screen.
Search for "Advanced MVRV Trend Analyzer" and add it to your chart.
Interpreting the Indicator:
MVRV Lines: Each of the three MVRV lines (short-term, mid-term, long-term) reflects how much higher or lower the current market price is compared to the average price at which coins were last moved. A value above 1 indicates that the current price is higher than the realized price, suggesting overvaluation. Conversely, a value below 1 suggests undervaluation.
Moving Averages: The moving averages of the MVRV ratios help identify the underlying trend. If the MVRV line deviates significantly from its moving average, it might indicate a potential reversal or continuation of the current trend.
Color-coded Backgrounds:
Red background indicates an overvalued condition where the MVRV ratio exceeds 1.5, suggesting caution as the market may be overheated.
Green background indicates an undervalued condition where the MVRV ratio is below 0.5, potentially signaling a buying opportunity.
Trading Strategies:
Overvalued Zones: Consider taking profits or setting stop-loss orders when the indicator shows a prolonged red background, especially if supported by other bearish signals.
Undervalued Zones: Look for buying opportunities when the indicator shows a prolonged green background, especially if other bullish signals are present.
Combining with Other Indicators:
Enhance your analysis by combining the "Advanced MVRV Trend Analyzer" with other technical indicators such as RSI, MACD, or volume-based tools to confirm trends and signals.
Conclusion
The "Advanced MVRV Trend Analyzer" offers a nuanced view of market dynamics, providing traders with valuable insights into when a market may be approaching extremes. By utilizing this indicator, traders can better time their entries and exits, manage risk, and align their strategies with underlying market trends.
Mark First Candle High/Low Breach (Single Mark per Day)orb breakout
marked the day open high and low of first candle and on the breakout it makes a trade
3smma v1 by vams### Script Description for Publication
**Title:** 3 Smoothed Moving Averages (32 Period)
This Pine Script calculates and visualizes three Smoothed Moving Averages (SMMA) based on different price sources: Low, High, and Close. It uses a fixed period of 32 for all calculations. SMMA is a variation of the moving average that provides smoother results by incorporating previous smoothed values into its calculations, making it suitable for trend analysis.
**Features:**
1. **SMMA (Low):** A smoothed moving average calculated using the low prices, plotted in blue.
2. **SMMA (High):** A smoothed moving average calculated using the high prices, plotted in green.
3. **SMMA (Close):** A smoothed moving average calculated using the close prices, plotted in red.
**Use Case:**
- Helps traders identify trends and potential reversal zones by analyzing smoothed price levels.
- Useful for filtering market noise and enhancing decision-making in technical analysis.
This script is designed for overlaying directly on price charts, providing clear and intuitive visualization of SMMA lines. Suitable for all trading styles, including intraday, swing, and positional trading.
NQ Strategy Optimized with Explicit Position Closuresema strategy with ichimoku cloud indicator. it uses the 9, 21, and 50 ema and the ichimoku to enter longs or shorts according to the ema crosses. its decently profitable, just a test
Volume Close High And RSI 1 Min And 5 MinFeatures and Explanation:
Columns:
Candle: Displays the label for the current or previous candles.
Volume: Displays the volume of the current and previous candles.
Volume Type: Classifies the volume into "Hundreds", "Thousands", or "Lakhs".
Close Price: Displays the closing price for each of the last 5 candles.
High Price: Displays the high price for each of the last 5 candles.
RSI - 1Min: Displays the RSI value for the 1-minute timeframe for each of the last 5 candles.
Consecutive Up/Down StrategyExplanation
Inputs:
consecutiveCandles: Number of consecutive candles to consider for entry.
takeProfitPerc and stopLossPerc: Percentage-based take profit and stop loss levels.
Bullish and Bearish Conditions:
bullishCount counts the number of consecutive bullish candles.
bearishCount counts the number of consecutive bearish candles.
Entries:
Long trades are executed when bullishCount reaches or exceeds the consecutiveCandles threshold.
Short trades are executed when bearishCount reaches or exceeds the threshold.
Risk Management:
The strategy exits trades based on the take profit and stop loss levels.
Saif's Liquidity Swings with EMA Crossovers"Saif's Liquidity Swings with EMA Crossovers" is a versatile tool for traders, combining both short-term trend-following (via EMAs) and swing trading techniques (via liquidity swing zones). It is suitable for intraday, swing, or trend traders looking for reliable signals based on key technical indicators.
By offering alerts, customizable settings, and clear visual cues, the script aims to assist traders in making timely decisions based on market trends and liquidity zones.
1. EMA Crossovers
The script plots five key EMAs on the chart, which are common technical analysis tools used to smooth price data and help identify trends:
EMA 5
EMA 8
EMA 13
EMA 50
EMA 200
Alerts: The script includes multiple alert conditions that are triggered whenever there is a crossover or crossunder between any of the 5 EMAs. These alerts notify you when:
One EMA crosses above or below another.
For example, when EMA 5 crosses above EMA 8, an alert is triggered indicating potential trend change. This allows traders to act upon these signals quickly and potentially capitalize on trend shifts.
2. Liquidity Swing High and Low Zones
The script also analyzes market liquidity by identifying Swing Highs and Swing Lows. These are key levels where the price has changed direction, which can be useful for determining entry or exit points.
Swing Highs are defined by a pivot high over the last 14 bars, while Swing Lows are defined similarly by a pivot low. The following logic applies:
Swing High: A local peak where the price turns downward.
Swing Low: A local trough where the price turns upward.
These swing zones are drawn as boxes on the chart, with the option to define the area as either:
Wick Extremity: Defined by the high/low of the candle's wick.
Full Range: Defined by the entire price range of the candle (including the body).
Alerts for Swing Crossovers:
The script generates alert conditions when the price crosses above or below the identified swing high or low levels.
3. Customizable Settings
The script provides several customization options for traders to adjust the settings:
Pivot Lookback Length: The number of bars to look back when identifying pivot points (default is 14).
Swing Area: Choose whether the swing zones are drawn based on the wick extremity or the full range of the candle.
Intrabar Precision: Option to analyze the data on a lower timeframe (such as 1-minute) for more precise intraday signals.
Filtering Options: The ability to filter and display swing zones based on Count or Volume, allowing for a more tailored analysis.
Additionally, traders can control the appearance of the swing highs/lows, such as:
Showing or hiding swing highs/lows.
Adjusting the label size for swing markers.
4. Use Case & Application
Trend Identification: The EMAs (5, 8, 13, 50, 200) help traders identify and follow trends. Shorter EMAs (5, 8, 13) react quickly to price changes, while longer EMAs (50, 200) help smooth out market noise and show long-term trends.
Swing Trading: The liquidity swing zones help identify key levels of support and resistance where price might reverse, allowing traders to take positions at optimal points.
Alerts: Alerts for both EMA crossovers and swing zone crossovers can help traders stay on top of market movements, improving their decision-making and timely execution.
5. Key Features:
5 EMAs plotted on the chart with automatic alerts for crossovers.
Swing Highs and Lows identified and plotted as boxes on the chart, indicating areas of market liquidity.
Customizable Lookback Period for pivot analysis and intrabar precision for more accurate intraday data.
Volume and Count Filtering for swing zones to focus on the most relevant signals.
Alerts for crossover events between EMAs and swing highs/lows.
RB.Cripto RSI 90/10 RB.C RSI 90/10 + Cruzamento MACD com Bandas de Bollinger
Este script combina três poderosas ferramentas de análise técnica para identificar potenciais pontos de compra e venda no mercado:
RSI (Relative Strength Index): O script usa o RSI com os níveis 90/10 para sinalizar condições extremas de mercado. Quando o RSI ultrapassa 90, é gerado um sinal de venda (overbought), e quando o RSI fica abaixo de 10, é gerado um sinal de compra (oversold).
MACD (Moving Average Convergence Divergence): O MACD é utilizado para identificar a tendência do mercado, com sinais de cruzamento entre a linha MACD e a linha de sinal, além da análise do histograma. O cruzamento do MACD para cima da linha de sinal indica uma possível oportunidade de compra, enquanto o cruzamento para baixo sugere uma possível venda.
Bandas de Bollinger: A ferramenta também integra as Bandas de Bollinger para monitorar a volatilidade e identificar zonas de suporte e resistência. Quando o preço ultrapassa a banda superior, pode ser um sinal de venda, e quando o preço ultrapassa a banda inferior, pode ser um sinal de compra.
Funcionalidades:
Exibe sinais visuais de compra (Long) e venda (Short) no gráfico.
Indica condições extremas de sobrecompra e sobrevenda usando o RSI.
Mostra cruzamentos do MACD com sinalização clara das oportunidades.
Utiliza as Bandas de Bollinger para detectar zonas de suporte e resistência.
Objetivo: O objetivo deste script é ajudar traders a tomar decisões mais informadas, combinando indicadores de força relativa (RSI), tendência (MACD) e volatilidade (Bandas de Bollinger) para um gerenciamento de risco mais eficiente e entradas mais precisas.
RB.Cripto RSI 90/10 RB.C RSI 90/10 + Cruzamento MACD com Bandas de Bollinger
Este script combina três poderosas ferramentas de análise técnica para identificar potenciais pontos de compra e venda no mercado:
RSI (Relative Strength Index): O script usa o RSI com os níveis 90/10 para sinalizar condições extremas de mercado. Quando o RSI ultrapassa 90, é gerado um sinal de venda (overbought), e quando o RSI fica abaixo de 10, é gerado um sinal de compra (oversold).
MACD (Moving Average Convergence Divergence): O MACD é utilizado para identificar a tendência do mercado, com sinais de cruzamento entre a linha MACD e a linha de sinal, além da análise do histograma. O cruzamento do MACD para cima da linha de sinal indica uma possível oportunidade de compra, enquanto o cruzamento para baixo sugere uma possível venda.
Bandas de Bollinger: A ferramenta também integra as Bandas de Bollinger para monitorar a volatilidade e identificar zonas de suporte e resistência. Quando o preço ultrapassa a banda superior, pode ser um sinal de venda, e quando o preço ultrapassa a banda inferior, pode ser um sinal de compra.
Funcionalidades:
Exibe sinais visuais de compra (Long) e venda (Short) no gráfico.
Indica condições extremas de sobrecompra e sobrevenda usando o RSI.
Mostra cruzamentos do MACD com sinalização clara das oportunidades.
Utiliza as Bandas de Bollinger para detectar zonas de suporte e resistência.
Objetivo: O objetivo deste script é ajudar traders a tomar decisões mais informadas, combinando indicadores de força relativa (RSI), tendência (MACD) e volatilidade (Bandas de Bollinger) para um gerenciamento de risco mais eficiente e entradas mais precisas.
Sessions ny vizScript Purpose
This indicator draws a colored background during the New York trading session. It's useful for traders who want to have a visual overview of when the American (NY) trading session is active.
Main Features
NY Session Visualization - draws a gray bar in the background of the chart during NY trading hours (15:00-19:00 CET)
Customization - allows users to:
Set custom session time range
Adjust background color and transparency
Limit display to only the last 24 hours
Input Parameters
sessionRange - session time range (default 15:00-19:00 CET)
sessionColour - background color (default gray with 90% transparency)
onlyLast24Hours - toggle for showing only the last 24 hours (default false)
Technical Details
Script is written in Pine Script version 5
Uses UNIX timestamp for time period calculations
Runs as an overlay indicator (overlay=true), meaning it displays directly on the price chart
Uses the bgcolor() function for background rendering
Contains logic to check if current time is within defined session
Usage
This indicator is useful for:
Monitoring active NY trading session hours
Planning trades during the most liquid hours of the US market
Visual orientation in the chart during different trading sessions
Galagtic Radar Grid - AYNETFeatures:
Concentric Circles:
Drawn using points (•) placed around a center.
The number of circles and their spacing are customizable.
Radial Lines:
Straight lines radiate outward from the center.
You can customize the number of lines (e.g., 12 for 30° intervals).
Highlight Marker:
An orange marker is placed at a specific angle (customizable) on the outermost circle.
Key Customization Inputs:
Circle Count: Number of concentric circles.
Circle Spacing: Distance between circles.
Line Count: Number of radial lines.
Highlight Angle: Position of the orange marker in degrees.
Colors: Customize grid and marker colors.
Core Logic:
Circles and radial lines are calculated using trigonometric functions (math.cos and math.sin).
The x-coordinates are tied to bar_index (integer), ensuring compatibility with TradingView's requirements.
This script is ideal for creating a visual radar-like grid on TradingView charts. Let me know if you'd like further enhancements! 😊
Wick Trend Analysis - AYNETScientific Explanation
1. Wick Trend Lines
Upper Wick Trend Line: The upper_wick_trend is calculated as the Simple Moving Average (SMA) of the upper wick lengths over the user-defined period (trend_length).
pinescript
Kodu kopyala
float upper_wick_trend = ta.sma(upper_wick_length, trend_length)
Lower Wick Trend Line: The lower_wick_trend is similarly calculated for the lower wick lengths.
pinescript
Kodu kopyala
float lower_wick_trend = ta.sma(lower_wick_length, trend_length)
2. Filling Between Lines
fill Function: The fill function colors the area between two plotted lines (plot_upper and plot_lower) based on a defined condition.
pinescript
Kodu kopyala
fill(plot_upper, plot_lower, color=fill_color, title="Wick Trend Area")
Condition for Coloring: The color is determined based on whether the upper wick trend is greater or less than the lower wick trend:
Green Fill: Indicates that the upper wick trend is dominant (i.e., upper_wick_trend > lower_wick_trend).
Red Fill: Indicates that the lower wick trend is dominant (i.e., upper_wick_trend <= lower_wick_trend).
Visualization Features
Trend Lines:
Upper wick trend is plotted as a green line.
Lower wick trend is plotted as a red line.
Filled Area:
The area between the two trend lines is filled:
Green when the upper wick trend is dominant.
Red when the lower wick trend is dominant.
Dynamic Adjustments:
The user can adjust the trend_length to change the sensitivity of the SMA calculations.
Applications
Sentiment Analysis:
Green Fill (Upper Trend Dominance): Indicates stronger rejection at higher prices, suggesting bearish sentiment.
Red Fill (Lower Trend Dominance): Indicates stronger rejection at lower prices, suggesting bullish sentiment.
Signal Generation:
Transitions in the fill color (from green to red or vice versa) can serve as potential trade signals.
Volatility Assessment:
Wider gaps between the trend lines indicate higher market volatility, while narrower gaps suggest lower volatility.
Enhancements
1. Trend Strength Filtering
Add thresholds to filter out minor trends or insignificant wick activity:
pinescript
Kodu kopyala
bool significant_upper_wick = upper_wick_length > 10 // Minimum length for upper wick
bool significant_lower_wick = lower_wick_length > 10
2. Alerts for Trend Changes
Trigger alerts when the dominance of the trend changes:
pinescript
Kodu kopyala
alertcondition(upper_wick_trend > lower_wick_trend, title="Upper Wick Dominance", message="Upper wick trend is now dominant.")
alertcondition(lower_wick_trend > upper_wick_trend, title="Lower Wick Dominance", message="Lower wick trend is now dominant.")
3. Combined Wick Analysis
Incorporate total wick activity (upper + lower wicks) for holistic analysis:
pinescript
Kodu kopyala
float total_wick_trend = ta.sma(upper_wick_length + lower_wick_length, trend_length)
Conclusion
This script provides a robust visualization of wick trends with dynamic color filling to indicate trend dominance. By observing the relative strength of upper and lower wick trends, traders can assess market sentiment, detect potential reversals, and gauge volatility. This method can be further enhanced with additional filters, alerts, and composite indicators to refine trading strategies.
Trend & Volume Dynamics Indicator (Color identifying the Trend)Benefits
1. Trend Identification:
o The script calculates a 20-period Weighted Moving Average (WMA) of the closing prices. This helps in smoothing out price data to identify the underlying trend.
o The color of the WMA line changes based on the price position relative to the WMA:
Green: When the current price is above the WMA, indicating a potential uptrend.
Red: When the current price is below the WMA, indicating a potential downtrend.
Blue: When the price is exactly at the WMA, indicating no clear trend.
2. Volume Dynamics:
o The script also plots the volume with a color-coding mechanism:
Green: When the current volume is higher than the previous period's volume, indicating increasing trading activity.
Red: When the current volume is lower than the previous period's volume, indicating decreasing trading activity.
o The volume bars are plotted with 90% transparency, making them less visually dominant but still informative.
Usage
• Overlay: The indicator is set to overlay=true, meaning it will be plotted directly on the price chart, allowing users to see the WMA and volume dynamics in the context of the price movements.
• WMA Length: The length of the WMA is set to 20 periods, which is a common setting for short to medium-term trend analysis.
• Visual Cues: The color changes in both the WMA and volume bars provide immediate visual cues about the trend and volume dynamics, helping traders make quicker decisions.
Detailed Explanation of the Script
1. Indicator Declaration:
o Declares the indicator with a descriptive name and specifies that it should be overlaid on the price chart.
2. WMA Calculation:
o Defines the length of the WMA and calculates it using the closing prices.
3. Plotting the WMA:
o Plots the WMA with full brightness (0 transparency).
4. Color-Coding the WMA:
o Changes the color of the WMA line based on the price's position relative to the WMA.
5. Volume Indicator:
o Plots the volume bars with color-coding based on the volume change from the previous period and with 90% transparency.
Conclusion
One of the most best combinations of Volume and Moving average and works on any given timeframe and charts
Time Change Indicator-AYNETDetailed Scientific Explanation of the Time Change Indicator Code
This Pine Script code implements a financial indicator designed to measure and visualize the percentage change in the closing price of an asset over a specified timeframe. It uses historical data to calculate changes and displays them as a histogram for intuitive analysis. Below is a comprehensive scientific breakdown of the code:
1. User Inputs
The script begins by defining user-configurable parameters, enabling flexibility in analysis:
timeframe: The user selects the timeframe for measuring price changes (e.g., 1 hour, 1 day). This determines the granularity of the analysis.
positive_color and negative_color: Users choose the colors for positive and negative changes, enhancing visual interpretation.
2. Data Retrieval
The script employs request.security to fetch closing price data (close) for the specified timeframe. This function ensures that the indicator adapts to different timeframes, providing consistent results regardless of the chart's base timeframe.
Current Closing Price (current_close):
current_close
=
request.security(syminfo.tickerid, timeframe, close)
current_close=request.security(syminfo.tickerid, timeframe, close)
Retrieves the closing price for the defined timeframe.
Previous Closing Price (prev_close): The script uses a variable (prev_close) to store the previous closing price. This variable is updated dynamically as new data is processed.
3. Price Change Calculation
The script calculates both the absolute and percentage change in closing price:
Absolute Price Change (price_change):
price_change
=
current_close
−
prev_close
price_change=current_close−prev_close
Measures the difference between the current and previous closing prices.
Percentage Change (percent_change):
percent_change
=
price_change
prev_close
×
100
percent_change=
prev_close
price_change
×100
Normalizes the change relative to the previous closing price, making it easier to compare changes across different assets or timeframes.
4. Conditional Logic for Visualization
The script uses a conditional statement to determine the color of each histogram bar:
Positive Change: If price_change > 0, the bar is assigned the user-defined positive_color.
Negative Change: If price_change < 0, the bar is assigned the negative_color.
This differentiation provides a clear visual cue for understanding price movement direction.
5. Visualization
The script visualizes the percentage change using a histogram and enhances the chart with dynamic labels:
Histogram (plot.style_histogram):
Each bar represents the percentage change for a given timeframe.
Bars above the zero line indicate positive changes, while bars below the zero line indicate negative changes.
Zero Line (hline(0)): A reference line at zero provides a baseline for interpreting changes.
Dynamic Labels (label.new):
Each bar is annotated with its exact percentage change value.
The label's position and color correspond to the bar, improving clarity.
6. Algorithmic Flow
Data Fetching: Retrieve the current and previous closing prices for the specified timeframe.
Change Calculation: Compute the absolute and percentage changes between the two prices.
Bar Coloring: Determine the color of the histogram bar based on the change's direction.
Plotting: Visualize the changes as a histogram and add labels for precise data representation.
7. Applications
This indicator has several practical applications in financial analysis:
Volatility Analysis: By visualizing percentage changes, traders can assess the volatility of an asset over specific timeframes.
Trend Identification: Positive and negative bars highlight periods of upward or downward momentum.
Cross-Asset Comparison: Normalized percentage changes enable the comparison of price movements across different assets, regardless of their nominal values.
Market Sentiment: Persistent positive or negative changes may indicate prevailing bullish or bearish sentiment.
8. Scientific Relevance
This script applies fundamental principles of data visualization and time-series analysis:
Statistical Normalization: Percentage change provides a scale-invariant metric for comparing price movements.
Dynamic Data Processing: By updating the prev_close variable with real-time data, the script adapts to new market conditions.
Visual Communication: The use of color and labels improves the interpretability of quantitative data.
Conclusion
This indicator combines advanced Pine Script functions with robust financial analysis techniques to create an effective tool for evaluating price changes. It is highly adaptable, providing users with the ability to tailor the analysis to their specific needs. If additional features, such as smoothing or multi-timeframe analysis, are required, the code can be further extended.
Torus Visualization-Secret Geometry-AYNETExplanation:
Outer and Inner Circles:
The script draws two main circles: the outer boundary and the inner boundary of the Torus.
Bands Between Circles:
Additional concentric circles are drawn to create the illusion of a Torus structure.
Customizable Inputs:
You can control the outer radius, inner radius, number of segments for smoother circles, and the number of bands to improve visualization.
Parameters:
center_x and center_y define the center of the Torus on the chart.
outer_radius and inner_radius control the size of the Torus.
segments define the resolution of the circles (more segments = smoother appearance).
Visualization:
The Torus appears as a series of concentric circles, giving a 2D approximation of the 3D structure.
This script can be visualized on any chart, and the Torus will adjust its position based on the specified center and radius values.
Meme Coin Buy Signal Indicator by asharThis custom TradingView indicator is specifically designed for meme coins, using technical analysis indicators to identify optimal buy signals. It combines short-term moving averages, volume spikes, and Bitcoin trend alignment to pinpoint potential entry points during high-momentum periods.
Indicator Components:
Moving Averages (MA): A 5-period fast MA and a 13-period slow MA highlight short-term price momentum. Buy signals are generated when the fast MA crosses above the slow MA, indicating potential upward momentum.
Volume Spike Detection: The indicator detects high-volume periods using a multiplier. If the current volume exceeds the 10-period average volume by the set multiplier (default: 2.0), it indicates increased buying interest, which is crucial for meme coins.
Bitcoin Trend Alignment: The trend of Bitcoin, a market-wide sentiment indicator, is gauged with a 20-day moving average. Buy signals are validated only when Bitcoin is also in an uptrend, providing additional bullish confirmation for meme coins.
Buy Signal Criteria: A buy signal is triggered when:
The fast MA crosses above the slow MA.
Volume is above the average by the set multiplier.
The price is above the slow MA.
Bitcoin is trending up based on the 20-day moving average.
This indicator is ideal for meme coin traders looking to time entries with momentum-driven trends, aligning volume and trend indicators for a more comprehensive approach to high-risk assets.
Old Price OscillatorThe Old Price Oscillator (OPO) is a momentum indicator widely used by traders and analysts to gauge the direction and strength of price trends. It works by calculating the difference between two moving averages—a shorter-term moving average and a longer-term moving average—of a security’s price. This difference is plotted as an oscillating line, helping traders visualize the momentum and determine when price reversals or continuations might occur. Typically, when the oscillator value is positive, the price is trending upwards, suggesting potential buy signals; conversely, when the oscillator turns negative, it indicates downward momentum, which could signal a potential sell.
The OPO is similar to other oscillators, like the Moving Average Convergence Divergence (MACD), in that it uses moving averages to smooth out price fluctuations and clarify trends. Traders often customize the length of the short- and long-term moving averages to better suit specific assets or market conditions. Generally, this indicator is especially useful in markets that exhibit clear trends. However, it may generate false signals during sideways or highly volatile periods, so many traders combine the OPO with other technical indicators or filters to improve accuracy.
Multi-Timeframe Moving Averages by Skyito"Hope everyone likes this and finds it useful! This multi-timeframe moving average indicator provides a comprehensive view of moving averages from various timeframes directly on one chart. It’s designed to help traders analyze market trends and levels more effectively without constantly switching between charts.
Script Explanation: This indicator supports a range of moving average types, including SMA, EMA, HMA, WMA, VWMA, RMA, SSMA, and DEMA, allowing for flexibility in analysis. Each moving average is fully customizable by length and type for each timeframe, giving you control over how trends are represented.
The indicator includes timeframes such as 15 minutes, 1 hour, 4 hours, 6 hours, 8 hours, 12 hours, 1 day, 3 days, 5 days, 1 week, 3 weeks, and 1 month. Each moving average is displayed as a line with a small dashed extension, showing a label that contains the moving average’s timeframe, type, and current price level. The dark blue labels are slightly enlarged to enhance readability on the chart, making it easier to track important levels at a glance.
Use Case: This tool is ideal for traders looking to stay aware of trend levels across multiple timeframes on one chart. Adjusting the moving averages’ lengths and types enables customization for any strategy, while the label information provides an immediate understanding of the timeframe and trend context.
Enjoy the streamlined view and the added insights from multi-timeframe analysis!"
