Simple PVT Strength Spotter™TradeChartist Simple PVT Strength Spotter is a modified version of Price Volume Trend visualised using Relative Strength and helps spot price trends using visually engaging and appealing PVT Strength Oscillator plot and background. The Bull and the Bear background fills are highly useful for traders who like to visually understand areas of entry/exit based on PVT Strength and Oscillator Highs and Lows help spot Bull and Bear Divergences.
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What does Simple PVT Strength Spotter do?
Plots PVT Strength with visually engaging colours for Bull and Bear zones (Green and Red).
Plots PVT Strength coloured bars on main chart based on user preferred Upper and Lower PVT Strength bands (Default - 5/-5).
Plots PVT Strength based on EMA smoothing (1 for Regular PVT Strength without smoothing).
Plots Heikin Ashi PVT Strength if enabled from indicator settings.
Plots PVT Strength highs of Bull Zone and PVT Strength lows of Bear Zone. Helps visually spot divergences.
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Note:
Default Settings:
7 period PVT Strength using 5 EMA Smoothing.
For Heikin Ashi PVT Strength on normal bars, enable ᴜsᴇ ʜᴇɪᴋɪɴ ᴀsʜɪ PVT Sᴛʀᴇɴɢᴛʜ .
Works only on symbols that have Volume data.
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Phân kỳ
Stochastic + MACD Trend Alignment OscillatorOscillator is combining MACD with (double) Stochastic oscillator. When both, MACD and (double) Stochastic are aligned with direction of trend, it improves probability and strength of such signal. There's possibility to also activate second Stochastic as additional confirmation of the signal. One of winning setup is to keep MACD settings standard - 12,26,9 and both Stochastics with slightly longer settings - 14,7,7 & 21,14,14. Figures at top are displaying trend coming from MACD . Background is coloured when all signals are aligned.
If you're interested in access for oscillator, please DM me on Tradingview.com ;)
Advance Decline Line with Divergence Finder
The advance/decline line (A/D) is a breadth indicator used to show how many stocks are participating in a stock market rally or decline.
When major indexes are rallying, a rising A/D line confirms the uptrend showing strong participation.
If major indexes are rallying and the A/D line is falling, it shows that fewer stocks are participating in the rally which means the index could be nearing the end of its rally.
When major indexes are declining, a falling advance/decline line confirms the downtrend.
If major indexes are declining and the A/D line is rising, fewer stocks are declining over time, which means the index may be near the end of its decline.
For more info: www.investopedia.com
Trend Indicator for Directional Trading (add-on)TIDT is a two-part trend-based indicator designed to recognize the general direction and help you identify good opportunities for going long or short (both indicators are called the same way with "main" and "add-on" additions).
This is the add-on indicator that is added below the chart and aside from identifying trending opportunities, it also shows Bullish and Bearish Divergences. Similar to the main indicator, it is based on 3 Moving Averages over which you have full control. You can choose between the following 7 types:
- Simple Moving Average ( SMA )
- Exponential Moving Average ( EMA )
- Weighted Moving Average ( WMA )
- Running Moving Average (RMA)
- Hull Moving Average ( HMA )
- Volume Weighted Moving Average ( VWMA )
- Arnaud Legoux Moving Average ( ALMA )
I strongly suggest that the types and periods for your MAs in the main and the add-on versions are identical so that you get a better visual of the whole picture. However, you may develop a trading strategy that relies on two different types of signals, so that's entirely up to you. Once you have set up the MAs and chosen the lookback period, the rest is taken care of for you. You get two types of signals:
1) Pullbacks - the divergences between your MAs generate a result, which is then averaged as a percentage gain or loss and worked out into a histogram. The colors of the histogram indicate opportunities to buy (if green), short (if red), or sit tight (if white) unless an explicit signal is given by the indicator. Overall the principle is simple - establish the trend and look for weaknesses so that you can open an order in the direction of the trend.
2) Divergences - generated in a similar way to the Pullbacks strategy with some minor adjustments and improvements to better catch the divergences. The histogram is slightly different, as the positive results are plotted above 0 and the negative ones below 0. As such, the histogram looks a lot like MACD, but with different calculations. The color principle mentioned above is the same - green for longs, red for shorts, and white for neutral unless specified by a signal. The change of the shade of the color shows an increase or a decrease in the momentum. A Long signal comes up when the price makes a lower low, while the momentum makes a higher low. A Short signal comes up when the price makes a higher high, but the momentum makes a lower high.
Ticking a box next to the signal type will show the associated histogram and its signals. Due to the different ways those two histograms are calculated and displayed I recommend having either of them On, but not both. However, you may want to be able to see both types of signals, so I've left this as an option. Once again, all colors are fully configurable.
The complete Trend Indicator for Directional Trading has gone over 1,500 revisions, has been forked over 10 times, and has been worked out to be as minimalistic, useful, and practical as possible. A great deal of work, time, and experience have been poured into this indicator to do what it's supposed to do - help you identify better entry opportunities for increased profitability.
If you have any questions regarding the indicator or suggestions on how it could be improved, please let me know. Thank you.
ALLinDivergence v12.60 :: PinPoint BUY/SELL OpportunitiesEasy to spot BUY/LONG or SELL/SHORT ENTRY POINT opportunities.
Just follow this 9 RULES!
Rule 1. ONLY THINK OF GETTING IN A POSITION when BackgroundWave is coloured GREEN and ON POSITIVE SIDE of Flat White Line
Rule 2. ONLY THINK OF GETTING IN A POSITION when BackgroundWave is coloured RED and ON NEGATIVE SIDE of Flat White LineRule
Rule 3. ENTER BUY POSITION (Same Direction) when HigherHighs of MiniWave are coloured GREEN and they are getting BIGGER - needs to be confirmed with RULE 1.
Rule 4. ENTER BUY POSITION (Change) when LowerLows of MiniWave are coloured RED and they are getting SMALLER - needs to be confirmed with RULE 2.
Rule 5. ENTER SELL POSITION (Change) when HigherHighs of MiniWave are coloured GREEN and they are getting SMALLER - needs to be confirmed with RULE 1.
Rule 6. ENTER SELL POSITION (Same Direction) when LowerLows of MiniWave are coloured RED and they are getting BIGGER- needs to be confirmed with RULE 2.
Rule 7. Draw DIVERGENCE TRENDLINES on HIGHS or LOWS to ease your "spotting capabilities" and to be able to set up whatever ALERT you need
Rule 8. IF NOT SURE - CLOSE THE POSITION
Rule 9. DO NOT BE GREEDY - FOLLOW THE PLAN, whatever it is - but definitely THE PLAN SHOULD EXIST)
TIP:
1. First choose your favourite TimeFrame (mine is 30min) and draw all the Lines you need for better preview of the situation and LOCK them (believe me!:)
2. After some move (BUY/SELL) is just about to get confirmed on 30min TF, you can go on lesser TF (i usually analyze 1min, 3 min, 9 min and 15 min) down to TF that its GREEN/RED waves still makes sense (does that makes sense?)
3. On smaller TF you will get confirmation faster but sometimes they are more unreliable than in bigger TF. But if it aligns with a confirmation from 30min TF than i guess it should be OK to judge a bit early:)
TradeChartist Plotter™TradeChartist Plotter is an extremely useful and adaptive indicator that connects to any oscillator to plot highs and lows, Divergences and also Bull and Bear Zones based on the Oscillator and user input to filter zones. When plotted as normal or Heikin Ashi price bars/candles, the divergences can be plotted on price bars and in addition ™TradeChartist MA Visualizer can be plotted and used to filter trade zones derived from the Oscillator connected.
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™𝗧𝗿𝗮𝗱𝗲𝗖𝗵𝗮𝗿𝘁𝗶𝘀𝘁 𝗣𝗹𝗼𝘁𝘁𝗲𝗿 𝗨𝘀𝗲𝗿 𝗠𝗮𝗻𝘂𝗮𝗹
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To connect an oscillator to ™TradeChartist Plotter, follow the steps below.
From the ╔═══ 𝗣𝗹𝘂𝗴 𝗢𝘀𝗰𝗶𝗹𝗹𝗮𝘁𝗼𝗿 ═══ 🔌 dropdown, choose the Oscillator plot which is active on the chart.
Choose the Oscillator Smoothing factor if smoothing is not available on the original oscillator plot by using the Osᴄɪʟʟᴀᴛᴏʀ Sᴍᴏᴏᴛʜɪɴɢ input box.
Enter Upper and Lower Bands for the Oscillator plot that helps detect Highs/Lows, Divergences, Trade Zones etc. by using the Uᴘᴘᴇʀ Bᴀɴᴅ and Lᴏᴡᴇʀ Bᴀɴᴅ input boxes. For example, for oscillators like RSI, bands can be 60/40 or 70/30 or even 50/50 to help filter highs/lows on Oscillator and the main price chart based on Oscillator values above Upper Band and Oscillator values below Lower Band.
Osᴄɪʟʟᴀᴛᴏʀ Bᴀsᴇ Lɪɴᴇ is required especially for Oscillators that don't have 0 as its base line. For example, RSI, Stochastic etc. oscillate between 0 and 100. For Oscillators like these, a base line value is really useful on ™TradeChartist Plotter especially to detect Divergences, Highs/Lows, Trade Zones and even to plot the Oscillator as a Histogram or Area plot.
Pʟᴏᴛ Bᴀsᴇ Lɪɴᴇ ᴀɴᴅ Bᴀɴᴅs plots base line and the bands if Oscillator plot is chosen.
There are three plot types under Pʟᴏᴛ Tʏᴘᴇ and they are
══ Plot Oscillator - This option plots the connected Oscillator
══ Plot Price Candles - This option plots price candles and if overlaid on main chart, Highs/Lows, Divergences etc can be visualized along with ™TradeChartist MA Visualizer if enabled.
══ Plot Price Bars - This option plots price bars and if overlaid on main chart, Highs/Lows, Divergences etc can be visualized along with ™TradeChartist MA Visualizer if enabled.
Pʟᴏᴛ HA Cᴀɴᴅʟᴇs/Bᴀʀs plots Heikin Ashi candles/bars. It doesn't affect the Oscillator plot or in anyway alter the Oscillator plot.
Pʟᴏᴛ Sᴛʏʟᴇ dropdown has three types of styles - Line, Histogram and Area plot styles for the Oscillator plot.
Pʟᴏᴛ Pʀɪᴄᴇ Hɪɢʜs ᴀɴᴅ Lᴏᴡs plots the price highs and price lows corresponding to the Bull and Bear zones of the Oscillator connected.
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╔═════════ 𝗠𝗔 𝗩𝗶𝘀𝘂𝗮𝗹𝗶𝘇𝗲𝗿 ═════════╗
MA Visualizer is a powerful and very useful original ™TradeChartist visual method to plot Moving Averages of the close price of the security for user specified look back period in a visually appealing style in the form of colour coded bands. MA Visualizer not only helps the trader spot the price action of the security relative to the moving average, but also paints a visual picture of the trend strength, which must be seen and used on chart to appreciate its elegance. One of 15 different types of Moving Averages can be used to visualize the price action.
Activate 𝗠𝗔 𝗩𝗶𝘀𝘂𝗮𝗹𝗶𝘇𝗲𝗿 and choose the MA type from MA Vɪsᴜᴀʟɪᴢᴇʀ Tʏᴘᴇ dropdown and entering the lookback period in MA Vɪsᴜᴀʟɪᴢᴇʀ ᴘᴇʀɪᴏᴅ input box.
MA Visualizer colour theme can be be changed from MA Vɪsᴜᴀʟɪᴢᴇʀ Cᴏʟᴏʀ Sᴄʜᴇᴍᴇ dropdown.
The faster of the two set of bands that form the MA Visualizer reacts to price action faster and can be clearly seen from its change of colour from Bull Colour to Bear Colour or vice-versa earlier than the slower set of bands. The fill colour between the bands also helps the user stay in a trade or exit a trade based on other confirmators.
Enabling Dᴀᴢᴢʟɪɴɢ Vɪsᴜᴀʟɪᴢᴇʀ makes the Visualizer dazzle. Uncheck this option for normal view of MA Visualizer.
𝐔𝐬𝐞 𝐌𝐀 𝐕𝐢𝐬𝐮𝐚𝐥𝐢𝐳𝐞𝐫 𝐚𝐬 𝐓𝐫𝐚𝐝𝐞 𝐅𝐢𝐥𝐭𝐞𝐫 filters the trade zones based on MA Visualizer's trend agreeing with the Oscillator trend. Fɪʟᴛᴇʀ Eᴀʀʟʏ Vɪsᴜᴀʟɪᴢᴇʀ Bʀᴇᴀᴋᴏᴜᴛs filters the trades based on faster MA Visualizer plot's trend.
Also, enabling Pʟᴏᴛᴛᴇʀ Bᴀᴄᴋɢʀᴏᴜɴᴅ Fɪʟʟ under 𝗨𝘀𝗲𝗳𝘂𝗹 𝗘𝘅𝘁𝗿𝗮𝘀 helps detect the trade zones with or without the MA Visualizer filter enabled.
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╔═══════ 𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀 ═══════╗
Plotter detects both Regular and Hidden Bullish (in a Bear Zone) and Bearish Divergences (in a Bull Zone) at every occurence based on the Oscillator connected. This can be filtered by the use of filtering by Upper and Lower Band values in the Oscillator section. Divergences can also be plotted on price bars based on Pʟᴏᴛ Tʏᴘᴇ .
To plot divergences, enable 𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀, Sʜᴏᴡ Rᴇɢᴜʟᴀʀ Dɪᴠᴇʀɢᴇɴᴄᴇs and Sʜᴏᴡ Hɪᴅᴅᴇɴ Dɪᴠᴇʀɢᴇɴᴄᴇs .
Users can further filter Divergences by entering the number of bars to the right in Rɪɢʜᴛ ʙᴀʀs ғᴏʀ Pɪᴠᴏᴛ Cᴏɴғɪʀᴍᴀᴛɪᴏɴ input box to confirm the Price Pivot (for Regular divergences) and Oscillator Pivot (for Hidden Divergences).
Note: Divergences can not be traded at every instance or as a standalone indicator. It just indicates a possibility of strength exhaustion and should not be trusted during a trending market. Higher smoothing (done sensibly) also filters divergences. Divergence can be a strong confirmator once a reversal is detected. For example, using MA Visualizer can help confirm a divergence and vice-versa to identify the trend changes. This means that the confirmations may happen after a few bars since the divergence in agreement with the MA Visualizers trend change.
The example chart of 4hr BTC-USDT chart shows the Divergences filtered by use of RSI 60/40 bands, MA Visualizer and Regression channel trends. It is important to note that the trend intensity colour on the plot and bars (if bar colour option is enabled) will help detect if the Divergence would hold.
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╔═══════ 𝗨𝘀𝗲𝗳𝘂𝗹 𝗘𝘅𝘁𝗿𝗮𝘀 ═══════╗
Pʟᴏᴛᴛᴇʀ Bᴀᴄᴋɢʀᴏᴜɴᴅ Fɪʟʟ - Plots background fill based on Bull and Bear Zones based on the Oscillator connected and the filters used.
Plotter offers two vibrant Colour Themes, namely Chilli and Flame , which can be opted from Pʟᴏᴛᴛᴇʀ Tʜᴇᴍᴇ dropdown. These themes also offer the option to plot the trend intensity on the price bars as bar colours by enabling Cᴏʟᴏᴜʀ Bᴀʀs . Bar colors can also be inverted using Iɴᴠᴇʀᴛ Bᴀʀ Cᴏʟᴏᴜʀ option.
Users can also choose to use the Simple theme and choose preferred colours from Sɪᴍᴘʟᴇ Tʜᴇᴍᴇ ʙᴜʟʟ Cᴏʟᴏᴜʀ and Sɪᴍᴘʟᴇ Tʜᴇᴍᴇ ʙᴇᴀʀ Cᴏʟᴏᴜʀ colour input.
Note : The indicator does not repaint and can be confidently used for alerts and trade entries without worrying about plots disappearing after bar close.
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Example Charts
1. EUR-USD 15m chart with 3 Plotters on chart, 1 with ™TradeChartist MDO , 1 on main chart and 1 HA Bar chart showing various ways of plotting highs/lows, divergences and Trade zones using 55 period LSMA MA Visualizer.
2. XAU-USD 15m chart with Chande Momentum Oscillator connector to Plotter with 200 period SMA Visualizer used as Trade Filter.
3. LINK-USDT 1hr chart with ™TradeChartist Risk Meter connected to Plotter with 144 period Hull MA Visualizer as Trade filter on Main chart with Divergences plotted based on Risk Meter Volatility Risk Oscillator.
4. Example 3 above with Plotter's Trend Identifier connected to ™TradeChartist Plug and Trade as Oscillatory Signal with Past performance and trades plotted.
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Best Practice: Test with different settings first using Paper Trades before trading with real money
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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)
Premium Scripts - Trial access and Information
Trial access offered on all Premium scripts.
PM me directly to request trial access to the scripts or for more information.
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Triangular Momentum Oscillator & Real Time Divergences [LuxAlgo]Oscillators are widely used in technical analysis and can return a large amount of information to the trader depending on their design. It is common to use oscillators to detect divergences with the price, divergences occur when the tops/bottoms made by the oscillator and price are negatively correlated.
The following oscillator is based on the momentum of a triangular moving average, hence the name "triangular momentum" because of the very smooth property of the triangular moving average, we aimed at a real-time detection of divergences instead of using more common methods such as relying on pivot high/low detection which are suitable for more noisy oscillators.
The oscillator can also be colored based on a gradient derived from the correlation between its output and the price which can be useful to detect when the oscillator is out of phase (significantly lagging or leading the price).
Settings
length : Period of the oscillator, higher values return a smoother output.
src : Input source of the indicator.
Show Lines : Show lines connecting the current top/bottom with the previous one made by the oscillator when a divergence is detected. True by default.
Color Based On Price/Oscillator Correlation : Allows the color of the oscillator to change based on its correlation with the price, with red colors suggesting a negative correlation.
Usages
The advantage of having a smoother oscillator for divergences detection is that it can be done in real-time since a top or bottom is present when the oscillator first difference cross 0. Smoother oscillators are also easier to interpret, however, they will still suffer from lag.
The divergences detected by the oscillator are regular divergences, where the oscillator leads price variations.
Using higher values of length allows the oscillator to filter out longer-term variations thus being smoother as a result.
By using the color mode based on the price/oscillator correlation we can see where the oscillator leads or lag the price, and since divergences are based on the price and oscillator going in the opposite direction we can have information where price might reverse.
It is also possible to interpret the oscillator without relying on the divergence detection, with a decreasing value of the oscillator indicating a downtrend and an increasing value indicating an uptrend.
Trend Oscillator (Expo)Trend Oscillator (Expo) measures the overall trend strength and how strong the current price move/momentum is. The indicator is leading since it can signal a possible trend change that is yet to start. The color of the histogram and its value helps to gauge the strength and momentum of the trend.
The user can enable Bar Color that coloring the candlesticks based on the trend strength.
The user can choose between different trend calculations, such as smoothed trend, volume-weighted trend, a non-lagging trend, to mentions a few.
DIVERGENCES
All types of oscillators produce divergences and so does Trend Oscillator (Expo). Divergences occur when the oscillator deviates from the trending price action. Bullish divergence is then when the trending price makes a lower low but the oscillator makes a higher low. Bearish divergence is then when the trending price makes a higher high but the oscillator makes a lower high.
HOW TO USE
Identify the trend strength and direction
Identify current momentum
Identify potential trend reversals
Identify Overbought and Oversold areas
INDICATOR IN ACTION
1 min chart
I hope you find this indicator useful , and please comment or contact me if you like the script or have any questions/suggestions for future improvements. Thanks!
I will continually work on this indicator, so please share your experience and feedback as it will enable me to make even better improvements. Thanks to everyone that has already contacted me regarding my scripts. Your feedback is valuable for future developments!
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Disclaimer
Copyright by Zeiierman.
The information contained in my scripts/indicators/ideas does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, or individual’s trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My scripts/indicators/strategies/ideas are only for educational purposes!
ACCESS THE INDICATOR
• Contact me on TradingView or use the links below
TRY Me - Turkish Lira Quote Currency DivergencesThis is a conceptual indicator that converts the main chart series' quote currency from U.S. dollar to Turkish Lira. Should only be used with USD pairs unless you change the 'Pair' input.
Divergences are created by the difference in price due to the incredible changes in TRY value. The candle colors turn to grey when the forex exchange is closed; this is done to show you that the quote currency value won't change.
Support and resistance levels are also possible to be drawn.
Options to configure are changing the quote pair, colors, and turning the divergences on or off.
RSI Tops and BottomsHello Traders
This script finds Tops when RSI is in overbought area or Bottoms when RSI is in oversold area and checks the divergence between them. it checks divergence at tops/bottoms after RSI exited from OB/OS areas.
You can change overbought / oversold levels.
You can limit the time that RSI is in OB/OS area with the option "Max Number of Bars in OB/OS"
you can set the minimum/maximum distances between Tops/Bottoms with the options "Min Number of Bars between Tops/Bottoms" and "Max Number of Bars between Topss/Bottoms"
and you can set the color and line widths as you wish.
These tops or bottom must be sequential, means there mustn't be another top while checking tops or bottom while checking bottoms between them.
in next example you can see valid and invalid bottoms:
After you got signal then you better use Stop Order, a few pips higher than the high of colored candle for long positions, ( vise versa in short positions ). so you may escape from traps. ("Stop order" is filled when the price reached a pre-specified price. for example the price is now 10.0 and you set Buy Stop Order at 11.0 then if price reaches 11.0 then your buy order get filled. you can put stoploss a few pips lower than the low of colored candle or you can use ATR to decice stoploss level. how you wish)
For example in following screenshot you can see that buy stop order was not filled and you didn't take long position.
Enjoy!
TradeChartist Risk Meter™𝗧𝗿𝗮𝗱𝗲𝗖𝗵𝗮𝗿𝘁𝗶𝘀𝘁 𝗥𝗶𝘀𝗸 𝗠𝗲𝘁𝗲𝗿 is a very useful and a well designed indicator, that packs a range of Risk utility tools including Trend Based Stochastic Oscillator, Bollinger Bands %B , Volatility Risk Oscillator, RSI Oscillator and RSI Risk Oscillator, along with further visual risk assessment tools like Divergence Spotter, Trend based Strength detector among other useful extras.
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™𝗧𝗿𝗮𝗱𝗲𝗖𝗵𝗮𝗿𝘁𝗶𝘀𝘁 𝗥𝗶𝘀𝗸 𝗠𝗲𝘁𝗲𝗿 𝗨𝘀𝗲𝗿 𝗠𝗮𝗻𝘂𝗮𝗹
The user can choose from one of the following four option from the 𝗥𝗶𝘀𝗸 𝗠𝗲𝘁𝗲𝗿 𝗧𝘆𝗽𝗲 dropdown from the settings.
1. Trend Based Stochastic
2. Bollinger Bands %B
3. Volatility Risk Oscillator
4. RSI + RSI Risk Oscillator
The source price for the Risk Meter can be chosen from Sᴏᴜʀᴄᴇ dropdown. Both Trend Based Stochastic and Volatility Risk Oscillator use High/Low prices as default. Enable Usᴇ Sᴏᴜʀᴄᴇ Pʀɪᴄᴇ under respective section to use a different source price.
Users can choose to plot Risk Meter background fill by enabling or disabling Rɪsᴋ Mᴇᴛᴇʀ Bᴀᴄᴋɢʀᴏᴜɴᴅ . The background fill is based on the trend intensity and uses 2 different colour schemes based on user preference. When the Dᴇᴄɪᴅᴇʀ Tʜʀᴇsʜᴏʟᴅ is used, it uses the background fill to mask the zone. If background fill is disabled, orange colour is used to mask the zone.
All of the Risk Meter plots can be plotted as Line , Histogram or Area plots and each of the sections include the Pʟᴏᴛ Sᴛʏʟᴇ option, so the user can choose a specific type of plot style for each of the Risk Meter Oscillators, based on user preference.
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═══ 𝟭. 𝗧𝗿𝗲𝗻𝗱 𝗕𝗮𝘀𝗲𝗱 𝗦𝘁𝗼𝗰𝗵𝗮𝘀𝘁𝗶𝗰 ═══
Trend Based Stochastic Oscillator is a modified version of the classic Stochastic Oscillator with the difference being the limits and also the plot itself to an extent.
--> Trend based Stochastic is a single plot oscillates between -100 to +100 and occasionally breaches these limits and can signal extremely overbought or oversold conditions unlike classic Stochastic indicator, which has two plots and strictly oscillates between 0-100.
--> Trend based Stochastic is extremely sensitive to price action, making it possible to detect every single divergence, both regular and hidden, even with the default smoothing factor of 5
--> Risk Meter employs Dᴇᴄɪᴅᴇʀ Tʜʀᴇsʜᴏʟᴅ to let user choose the threshold limit and only from this point onwards, Risk Meter detects the divergences. This helps filter a lot of noise in addition to Price and Oscillator Pivot detection under 𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀 section.
The user has to choose the length for the Trend based Stochastic plot by entering number of bars in Lᴏᴏᴋʙᴀᴄᴋ Lᴇɴɢᴛʜ input box (Default value is 55). The user can also change the smoothing factor from default value of 5 by entering the value in Sᴍᴏᴏᴛʜɪɴɢ input box. Smoothing is particularly useful to detect the strength, based on the trend if 𝐂𝐨𝐥𝐨𝐫 𝐙𝐨𝐧𝐞𝐬 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡 is enabled and the required trend length is entered in Tʀᴇɴᴅ Sᴛʀᴇɴɢᴛʜ Dᴇᴛᴇᴄᴛɪᴏɴ Lᴇɴɢᴛʜ . This feature splits the Risk Meter Plot into Bull and Bear zones based on the trend strength. HIgher Smoothing with default trend strength detection of 5 (upto 10) works well for sensitive price hugging scalps/swings. For longer trends, higher detection lengths can be used.
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════ 𝟮. 𝗕𝗼𝗹𝗹𝗶𝗻𝗴𝗲𝗿 𝗕𝗮𝗻𝗱𝘀 %𝗕 ═════
Bollinger Bands %B in Risk Meter oscillates between -100 to +100 rather than 0 - 1 in the classic version, with oversold/overbought levels breaching the limits and the plot is exactly the same otherwise.
Risk Meter employs Dᴇᴄɪᴅᴇʀ Tʜʀᴇsʜᴏʟᴅ for Bollinger Bands %B to let the user choose the threshold limit and only from this point onwards, Risk Meter detects the divergences. This helps filter a lot of noise in addition to Price and Oscillator Pivot detection under 𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀 section.
The user has to choose the Simple Moving Average (SMA) length for the plot by entering number of bars in BB SMA Lᴇɴɢᴛʜ input box (Default value is 20). There is no need for Standard Deviation as the fundamental plot is exactly the same, given that the plot oscillates between -100 to +100. The user can also change the smoothing factor from default value of 5 by entering the value in Sᴍᴏᴏᴛʜɪɴɢ input box. Smoothing is particularly useful to detect the strength, based on the trend if 𝐂𝐨𝐥𝐨𝐫 𝐙𝐨𝐧𝐞𝐬 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡 is enabled and the required trend length is entered in Tʀᴇɴᴅ Sᴛʀᴇɴɢᴛʜ Dᴇᴛᴇᴄᴛɪᴏɴ Lᴇɴɢᴛʜ . This feature splits the Risk Meter Plot into Bull and Bear zones based on the trend strength. HIgher Smoothing with default trend strength detection of 5 (upto 10) works well for sensitive price hugging scalps/swings. For longer trends, higher detection lengths can be used.
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══════ 𝟯. 𝗩𝗼𝗹𝗮𝘁𝗶𝗹𝗶𝘁𝘆 𝗥𝗶𝘀𝗸 ═══════
Volatility Risk Oscillator is an original ™TradeChartist model designed to visually see the Volatility risk for the security on any time frame.
To plot Volatility Risk for the security, the user has to enter the number of bars to detect volatility risk in Lᴏᴏᴋʙᴀᴄᴋ Lᴇɴɢᴛʜ input box (Default Value is 55). The user can also change the smoothing factor from default value of 5 by entering the value in Sᴍᴏᴏᴛʜɪɴɢ input box. Smoothing is particularly useful to detect the strength based on trend if 𝐂𝐨𝐥𝐨𝐫 𝐙𝐨𝐧𝐞𝐬 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡 is enabled and required trend length is entered in Tʀᴇɴᴅ Sᴛʀᴇɴɢᴛʜ Dᴇᴛᴇᴄᴛɪᴏɴ Lᴇɴɢᴛʜ . This feature splits the Risk Meter Plot into Bull and Bear zones based on the trend strength. HIgher Smoothing with default trend strength detection of 5 (upto 10) works well for sensitive price hugging scalps/swings. For longer trends, higher detection lengths can be used.
Even though Divergences work on Volatility Risk Oscillator, it is not employed as it produces far too many and there is no set Threshold limit that can be set to filter the divergences.
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══════ 𝟰. 𝗥𝗦𝗜 𝗢𝘀𝗰𝗶𝗹𝗹𝗮𝘁𝗼𝗿 ═══════
There are two different types of RSI Oscillators in this section that can be plotted.
RSI Oscillator - Classic RSI modified to fit -100 to +100 scale rather than 0 - 100 scale. Risk Meter employs Dᴇᴄɪᴅᴇʀ Tʜʀᴇsʜᴏʟᴅ for RSI Oscillator also, to let the user choose the threshold limit and only from this point onwards, Risk Meter detects the divergences. This helps filter a lot of noise in addition to Price and Oscillator Pivot detection under 𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀 section.
RSI Risk Oscillator - This oscillator plots the potential RSI risk based on RSI length (which can be changed in RSI Lᴇɴɢᴛʜ input box and main source price ( Sᴏᴜʀᴄᴇ ). The user can also change the smoothing factor from default value of 5 by entering the value in Sᴍᴏᴏᴛʜɪɴɢ input box. Smoothing is particularly useful to detect the strength, based on the trend if 𝐂𝐨𝐥𝐨𝐫 𝐙𝐨𝐧𝐞𝐬 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐒𝐭𝐫𝐞𝐧𝐠𝐭𝐡 is enabled and the required trend length is entered in Tʀᴇɴᴅ Sᴛʀᴇɴɢᴛʜ Dᴇᴛᴇᴄᴛɪᴏɴ Lᴇɴɢᴛʜ . This feature splits the Risk Meter Plot into Bull and Bear zones based on the trend strength. Higher Smoothing with default trend strength detection of 5 (upto 10) works well for sensitive price hugging scalps/swings. For longer trends, higher detection lengths can be used.
To plot RSI Risk Oscillator, 𝐒𝐡𝐨𝐰 𝐑𝐒𝐈 𝐑𝐢𝐬𝐤 𝐎𝐬𝐜𝐢𝐥𝐥𝐚𝐭𝐨𝐫 must be enabled. Disabling this option plots normal RSI Oscillator.
The 4hr chart of BTC-USDT below shows use of RSI Risk Oscillator (Top) with RSI Oscillator (bottom).
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╔═══════ 𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀 ═══════╗
Risk Meter detects both Regular and Hidden Bullish and Bearish Divergences at every occurence. This can be filtered by the use of Dᴇᴄɪᴅᴇʀ Tʜʀᴇsʜᴏʟᴅ in above sections. To plot divergences, enable
𝗗𝗶𝘃𝗲𝗿𝗴𝗲𝗻𝗰𝗲𝘀, Sʜᴏᴡ Rᴇɢᴜʟᴀʀ Dɪᴠᴇʀɢᴇɴᴄᴇs and Sʜᴏᴡ Hɪᴅᴅᴇɴ Dɪᴠᴇʀɢᴇɴᴄᴇs . All divergences are enabled as default.
Users can further filter Divergences by entering the number of bars to the right in Rɪɢʜᴛ ʙᴀʀs ғᴏʀ Pɪᴠᴏᴛ Cᴏɴғɪʀᴍᴀᴛɪᴏɴ input box to confirm the Price Pivot (for Regular divergences) and Oscillator Pivot (for Hidden Divergences).
The example chart of 4hr BTC-USDT chart shows the Divergences filtered by use of RSI Threshold. It is important to note that the trend intensity colour on the plot and bars (if bar colour option is enabled) will help detect if the Divergence would hold.
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╔═══════ 𝗨𝘀𝗲𝗳𝘂𝗹 𝗘𝘅𝘁𝗿𝗮𝘀 ═══════╗
Risk Meter offer two vibrant Colour Themes, namely Chilli and Flame , which can be opted from Rɪsᴋ Mᴇᴛᴇʀ Tʜᴇᴍᴇ dropdown. These themes also offer the option to plot the trend intensity on the price bars as bar colours by enabling Rɪsᴋ Mᴇᴛᴇʀ Cᴏʟᴏᴜʀ Bᴀʀs . Bar colors can also be inverted using Iɴᴠᴇʀᴛ Bᴀʀ Cᴏʟᴏᴜʀ option.
Users can also choose to use the Simple theme and choose preferred colours from Sɪᴍᴘʟᴇ Tʜᴇᴍᴇ ʙᴜʟʟ Cᴏʟᴏᴜʀ and Sɪᴍᴘʟᴇ Tʜᴇᴍᴇ ʙᴇᴀʀ Cᴏʟᴏᴜʀ colour input.
Note: The indicator does not repaint and can be confidently used for alerts and trade entries without worrying about plots disappearing after bar close.
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Example Charts
1. 89 period Trend Based Stochastic Oscillator as Histogram plot on LINK-USDT 1hr chart with Chilli Theme.
2. 89 period Volatility Risk Oscillator as Histogram plot on SPX 1hr chart with Chilli Theme.
3. 14 period RSI Risk Oscillator as Area plot on AAPL Daily Chart with Flame Theme.
4. 100 period Volatility Risk Oscillator using Trend Strength plotted as Zones on 1hr EUR-USD chart with Chilli Theme.
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Best Practice: Test with different settings first using Paper Trades before trading with real money
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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)
Premium Scripts - Trial access and Information
Trial access offered on all Premium scripts.
PM me directly to request trial access to the scripts or for more information.
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NIFTY Money Flow - Scalping/SwingBrief Description About Script
It considers the change of price in the direction
change of price is +Ve then considered as +Ve money flow
-Ve then considered as -Ve money flow
and it multplied by Volume change
This Strategy works best with NIFTY
For Scalping:-
Settings:- 1 Min Candle Time Frame, Length 20
For Swing:-
Setting:- 30 Min Candle Time Frame, Length 11
How to use it?
Common usage:-
Buy - When turns Red to Green Buy by keeping 1.5 * ATR as SL or Trailing SL(Optional) at the same time frame
Sell - When turns Green to Red SL by keeping 1.5 * ATR as SL or Trailing SL(Optional) at the same time frame
Trend reversal:-
Draw Divergence between indicator and price
Buy - Indicator forms Higher Highs(Red Side), Price Lower Lows
Sell - Indicator forms Lower Lows(Green Side), Price Higher Highs
Breakouts:-(Less Accurate compared to other scenarios)
End of Triangel/Box Indicator Turns Red to Green - Bullish Breakout, Green to Red Bearish Breakout
can use for breakouts chart patterns and guess which side it's going to break
can use for reversal as well by observing divergence between price & indicator
Note:-
In the future, an updated version is coming with it auto-generated buy/sell signal on the chart & gives backtesting results as a strategy
soRSIs - Stochastic RSI versus RSI GroupsoRSIs is about collaboration between Stochastic Relative Strength Index (SRSI) with Relative Strength Index (RSI) Group
RSI Group is group from three RSI, by default is 6,14, and 25
How to read:
If SRSI crossed over RSI Group, it can indicate an uptrend confirmation
If SRSI crossed under RSI Group, it can indicate a downtrend confirmation
If SRSI rejected to cross under RSI Group, it can indicate a correction recovery
If SRSI rejected to cross over RSI Group, it can indicate continuity correction
If RSI group perform descending 25,14,6, it can indicate bearish
If RSI group perform ascending 6,14,25, it can indicate bullish
If RSI group or SRSI reaches overbought line, it can indicate warning for LONG and good for SHORT
If RSI group or SRSI reaches oversold line, it can indicate warning for SHORT and good for LONG
It works in all time frames, but please keep in mind, higher timeframe can have stronger confirmation and trend.
The indicator settings:
Show Crossed RSI: default is true, it will show vertical line if RSI1 crossed under/over the RSI2 and RSI3
Source: default value is close, it is the resource when and where data are taken
RSI1: default value is 6, but user can change any value
RSI2: default value is 14, but user can change any value
RSI1: default value is 25, but user can change any value
Overbought: default value is 95, it is horizontal line on the top that indicates over bought or strength index fullness
Overbought: default value is 5, it is horizontal line on the top that indicates over sold or strength index weakness
The rest settings are about Stochastic RSI
[NLX-L2] Oscillator Divergences MTF- Oscillator Divergences -
This indicator give you signals on various oscillator divergences (Regular/Hidden Bull/Bear) you can choose from:
CCI
Donchian
Fisher Transform
MACD
MFI
Momentum
OBV
QQE
RSI
RSX
TSI
- How to Use -
1. Add a Trend Indicator like Trend Index MTF to your chart
2. Add this Oscillator Divergences Indicator to your Chart and select the Trend Index MTF with Type L1 in the Settings as Signal Source
3. Add the Backtest Module to your Chart and select the Signal with Type L2 as Source
The Hurst Exponent Signal Filter can be used as well to filter some of the noise (release coming soon)!
- Alerts for Automated Trading -
See my signature below. Contact me for the Alert module.
RSI/RSX Divergance on chart [Anan]This script points Regular/Hidden Bull/Bear RSI/RSX divergences on the chart.
Options:
-RSI/RSX source
-RSI/RSX length
-Show/hide Regular/hidden Bull/Bear divergences
TDI DivergenceScript looks for divergencies on TDI. Divergencies are created by fast MA. First divergence leg has to be outside of volatility bands. After that, fast MA has to cross middle of volatility bands and then create second leg. When second leg is created, there have to be two candles with the same color in the direction of divergence.
Alerts are supported.
MA MTF Momentum HistogramMy own interpretation indicator which i call multi time frame moving averages momentum with NO LAG EMA support (Optional).
The indicator is calculated by subtracting the long-term EMA from the short-term EMA .
This pretty much resembles the MACD moving averages calculation but without the smoothing of the histogram.
Can also be used to find divergences.
The background shows the main trend with higher time frame which can be set in the settings.
Aimed to use with Higher time frame (Double or more) but can also work with lower time frame.
How to use the indicator?
==Histogram==
Green: Momentum of asset is positive and increasing.
Lighter Green: Momentum of asset is still positive but decreasing and can revert to negative momentum.
Red: Momentum of asset is negative and increasing.
Lighter Red: Momentum of asset is still negative but increasing and revert to positive momentum.
==Background Color - Main Trend==
Green: HTF (Higher time frame) momentum is positive.
RED: HTF momentum is negative.
Feel free to comment and Follow to stay updated with upcoming scripts: www.tradingview.com
NOTE: BARS ARE COLORED BY DEFAULT WITH HISTOGRAM COLORS! (Can be changed in settings)
CSRS v2Candlesticked RSI v2 for price action traders!
See the True Momentum.
6 chart type, smooth RSI , add signal lines, find divergences, special alerts
This is 2nd version with major upgrade
Improved and more powerful
fully customizable.
features:
See RSI in 6 type of chart(Candles, Hollow Candles, Siwi Candles, Heikin Ashi, HL Bar, Line)
Monitor Up to 3 RSI , each one at desired resolution, source and length
Smooth each one of chart separately to remove noises
Add up to 3 signal line to primary chart in your desired source and type( SMA , EMA , WMA , HMA )
Find divergences which has special parameters
Gradient color adjustment of line chart
Add alert for reaching to important levels and detected divergences
ArcTan Oscillator [LuxAlgo]The following indicator is a normalized oscillator making use of the arc tangent sigmoid function (ArcTan), this allows to "squarify" the output result, thus visually filtering out certain variations originally in the oscillator. The magnitude of this effect can be controlled by the user. The indicator contains a gradient that shows the possibility of a reversal, with red colors indicating that a reversal might occur.
Settings
Length : Period of the oscillator
Pre-Gain : Changes the amplitude of the oscillator before passing through the ArcTan function, this allows to amplify/reduce the "squarification" effect introduced by this function. In order to make it easier for the user, the setting is in a (-10,10) range, with negative values reducing the amplitude and positive one increasing it.
Src : Source input of the indicator
Usage
The oscillator can be used to determine the direction of the trend by looking at its sign, if the oscillator is positive, market is up-trending, else down-trending, based on this usage the user might not be interested to look at every variations produced by the oscillator, this is where the hyperbolic tangent function and pre-gain setting can be useful, by using an high value of pre-gain the user will be able to only focus on the sign of the oscillator.
Here pre-gain is set to 5, we can see that the oscillator is now easier to visualize. However, the use of sigmoid functions remove useful information for a trader that needs to find divergences, this is where using a negative value of the pre-gain setting will result useful.
Here pre-gain is set to -5.
The indicator makes use of a gradient to show potential reversals, this gradient is determined by the correlation between the oscillator and the price (this is a way to measure potential divergences). If the color is closer to red it means that a potential reversal might occur, it is possible to say in which direction price might go by looking at the sign of the oscillator, so if the gradient is red and the oscillator is negative price might rise. The gradient is not affected by the pre-gain setting.
Divergence Indicator (any oscillator)A modification of the TV builtin "Divergence indicator" (Version 10) that can be applied to any indicator, and can be plotted on price as well.
Usage:
Add your favorite oscillator, RSI, Klinger, TSI, CMF, or anything else to a chart.
Click the little ... (More) on the oscillator.
Then add this indicator "Divergence Indicator (any oscillator)" on your oscillator of choice.
Click the settings on this indicator and make sure the source is set to the right plot from your oscillator.
Watch for it to plot divergences...
Add this indicator a second time on the price chart (and select the same oscillator plot), but check the box "plot on price (rather than on indicator)""
See you divergence plotted on price (as well as on the oscillator)
MESA Adaptive Moving Average - MTF and Divergence analysisThe latest iteration of the MESA Adaptive Moving Average - rewritten to make use of Pinescript v4 Arrays.
Explanation of settings and example use cases:
Fast Limit: Lower values will reduce the reactivity of the MA to rapid price changes.
- For instance, if you want to ignore price spikes on a low timeframe, then reduce Fast Limit
Slow Limit: Lower values will reduce the reactivity of the MA to slow price changes.
- For instance, if you want the MA to ignore small retracements during a trend, then reduce Slow Limit
Show MESA for next higher timeframe: Display the MA of the next standard timeframe that TV offers.
- Displays 3min if the chart timeframe is 1min. Displays D if the chart timeframe is 4H. Does not work with custom timeframes.
Show MESA for custom higher timeframe: Display a secondary MESA plot with a custom timeframe, selectable via the Custom Timeframe drop-down. Overrides the previous setting, if enabled. This functionality is experimental since it provides a higher sample rate than would normally be available. Take precautions making entries using only Custom Timeframe MESA.
- For instance, you made a decision on the 4H chart using MESA and are now watching the 15min to time a trade entry. Enable and select "4H" from the drop-down menu
Show Divergence between MESA Timeframes: Since divergence can differ greatly between assets, we form a baseline by continuously tracking the difference between the chart MA and higher timeframe MA. We note the maximum divergence in each direction (bullish and bearish). A white circle is plotted when divergence is close to the historical maximum. When a record-breaking divergence occurs, a yellow circle is plotted. You can tweak these indications by adjusting the Divergence Threshold %
- Multi-timeframe divergence is typically a weak indication of trend exhaustion, especially if Volume is not present.
Show Divergence between Source & MESA: Again, divergence can differ greatly between assets. This time, we form a baseline by continuously tracking the difference between the chart MA and Source (usually Close). We note the maximum divergence in each direction (bullish and bearish). A purple triangle is plotted when divergence is close to the historical maximum. When a record-breaking divergence occurs, a lime-green triangle is plotted. You can tweak these indications by adjusting the Divergence Threshold %
- Price divergence is a strong indicator of over-extension. It works well for timing reversals on intraday timeframes.
Source: The input data to perform MESA calculations on.
I've really enjoyed trading with this indicator, especially when combined with my previous two tools:
Empirical Suite : factors Trend, Price momentum, Volume, and Volatility
Squeeze Zone : provides a visual representation of volatility squeezes and attempts to predict breakout directions
Use this indicator to get a sense of overall trend, from any chart timeframe, as well as indications of over-extensions and exhaustion.
Lachie 5.0.1.2: DDS (Divergence Detection System)Introduction:
The purpose of this indicator is to assist users in detecting bullish and bearish divergence. This is purely for educational purposes and should only be used as an indicator to invest further time in TA.
This indicator is a further release of my previous indicator Lachie 3.0: DDS (Divergence Detection System).
How to interpret:
When a unique event occurs in the market the logic of the code will trigger:
-Bullish Divergence: Yellow X = divergence detected/forming, Orange X = strong confirmation, Green snow flake = targets end of divergence (fails sometimes)
-Bearish Divergence: Red X = Divergence detected/forming, Red snow flake = attempts to hit end of divergence/peaks
The chart may draw several characters in one location usually adding to the strength of the divergence.
What should I do when a character is painted on my chart:
As this is an educational indicator, I can only recommend that once a character(s) is drawn you should pay further attention to the currency/stock (do further Technical Analysis ). Treat this indicator as a hunting dog, looking for areas for you to investigate. You don’t give your dog the gun so please do not link it to automation and get tilted when something doesn’t go quite your way.
What time frames is this indicator best on:
This indicator was designed on a 1 hour chart. However, it does perform quite well on the daily, 4 and 6 hour charts. Its performance is reduced on 15 and 5 min since previous release (Lachie 3.0: DDS (Divergence Detection System)).
FAQ:
Should I Buy/Long when I see a bullish indicators?
I will not recommend any purchases without first proper TA. Majority of the time the indicator will correctly fin the bottom however in extreme down trends the code will display fake characters. Upon proper TA you will see how these are fake, but if you rely on a signal, you may get caught out.
Should I Sell/Short when I see a bearish indicators?
Only on 125x leve..... nope, please use this for educational purposes until full versions is released.
I am getting too many characters on my chart?
Although this was worked on heavily since previous release you may still encounter numerous characters in one place, for now this is quite normal and can happen when:
-High strength divergence.
-In a down trend occasionally the logic cannot correct interpret the weakness in the market.
Is this indicator applicable to any market?
Yes, although the indicator was developed based on Crypto Currency markets, the indicator is usable and in most instances more accurate on traditional markets.
Will there be future updates released?
As the code ages and further development is made, updates including increase accuracy for automation and signals may be released. This is really released for educational support. These updates may be released under a separate indicator listing.
This is an earlier derivative of current indicator with bullish and bearish divergence with higher accuracy (signal) script.
For access (vendor requirement):
Please contact me via private message on Trading View.
Images of Indicator:
Previous versions:
Lachie 3.0: DDS (Divergence Detection System)
Created and owned by Lachlan Schahinger. (2019)
CSRSCandlesticked RSI for price action traders!
See the True Momentum.
You can smooth RSI to remove noises and also find divergences.
fully customizable.
