Ehlers Distance Coefficient Filter [CC]The Distance Coefficient Filter was created by John Ehlers and this is one of his more unknown moving averages. It works well because in an uptrend or downtrend it behaves more like a trailing stop system but it also deals with issues like pullbacks pretty quickly. I think it works well with the default values but let me know if you find a more profitable system. Buy when the indicator turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish!
Filter
Volume, Momentum and Volatility weighted moving averageMoving averages are filters on price data. This moving average creates a filter which factors in:
- the price RSI or it's Momentum
- the volume RSI
- the RVI or Volatility
Each factor is put through a least squares filter to smooth them first.
Then the factors are used to build a coefficient for an exponentially weighted average.
The chart above shows a comparison of standard average types with this script.
This is useful if you are looking for a moving average based trigger and do not wish to react to candle noise price action.
LSMA CrossoverThis is a simple script designed to help filter out bad trades. LSMA is a trend king and by using the 21,200 and 1000 length lines traders can get a clear view of where price action is travelling. This indicator is the perfect companion to the LSMA Wave Rider indicator. Once a pullback is discovered (price action crosses under blue or white line) Traders can use LSMA Wave Rider to locate perfect entry point.
Least Squares Moving Average follows these rules:
When price crosses over it signals a bull trend.
When price crosses under it signals bear trend.
When price stays close or on the line sideways action is to be expected.
The direction of the line shows the direction of the trend.
Here is an example of finding good trades. Price action pulls below white or blue line.
Another example of what a pullback looks like.
This example shows how to find trend using crossovers.
Another example how trend can be found but by using line direction.
LSMA Wave Rider can be found here:
Ehlers NonLinear Filter [CC]The NonLinear Filter was created by John Ehlers and this one of his more unknown filters that work very well as a trendline and moving average. This is one of my favorites along with the instantenous trendlines that he created. Buy when the line turns green and sell when it turns red.
Let me know if there are any other indicators you would like to see me publish scripts for!
TFi Price Action Resampling Filter V1The script is resampling the price based on its range/price-action and creates an alternative filter to smoothen price movements.
Overview of features:
Optional stop-loss
Optional flags to control the position entry
Optional flags to control the position exit
Built-in backtesting engine with start balance, position size and pyramiding
Inputs for a percentage entry and exit slippage, entry/exit and daily funding fees
Configurable alerts, which follow the exact position of the entry/exit marker
Alert messages contain predefined trading instruction to execute orders via Alertatron or TradeFab's proprietary trading server
The script renders a status box at the last bar, which shows the current position status and result of the built-in trading simulation results.
It shows the following statistic values:
Current position PnL - also background turns green if position is in profit and red if in loss
Average entry price and number of positions
Current percentage distance to the optional stop-loss level
Current Maximum Draw Down
Overall number of wins and losses and the win/loss ratio
Overall profit and loss amount, paid fees
Overall profit-ratio and Maximum Draw Down
Overall balance and ROI
John Ehlers - The Price RadioPrice curves consist of much noise and little signal. For separating the latter from the former, John Ehlers proposed in the Stocks&Commodities May 2021 issue an unusual approach: Treat the price curve like a radio wave. Apply AM and FM demodulating technology for separating trade signals from the underlying noise.
reference: financial-hacker.com
Percentile Rank Market FilterA simple script to filter bull and bear markets by using percentile rank filter. Using market regimes to filter by bull/bear/sideways markets helps to understand how your strategy will
behave in various market regimes and allows you to avoid unprofitable regimes and only trade in profitable ones.
The idea of market regime filtering is used in the most successful technical algorithmic trading strategies, as one should always design a trading strategy with a particular market in mind according to trading legend, Larry Connors
Feel free to use this script in your strategies to improve your profits and lower drawdowns.
Historical Volatility Percentile FilterThis indicator provides a simple market regime filter for Historical Volatility. Depending on the strategy that you are using, it is useful to know how your strategy will perform at different
ranges of volatility, as this can greatly impact your performance. For instance, some of my long-only mean reversion strategies will only take trades where the volatility percentile is not extremely high, as this can often indicate fundamental changes in the security or the start of a big market correction. Some strategies may work better when volatility is higher
Feel free to use the following code along with your strategies to help improve performance and reduce the volatility of your gains in the long term.
Bot go_up strategyHello. This strategy is based on go_up alerts.
Our task is to find the local minimum. The trade is entered on the basis of RSI and SMA according to a specific formula, which is embedded in the code. When the RSI crosses the SMA upside down, a long position is entered. You can change the length of the RSI . The longer the length, the less frequent, but more accurate the entrance, and vice versa. You can use a different time frame.
The settings have:
1) RSI length, the lower the length, the more often the entry.
2) Testing results for any period of time
3) Take profit for any percentage
4) Stop order for any percentage
5) If there is a check mark ✅, then purchases will always be made, and if not, then purchases will be made, BUT, if the next payback is lower than the previous one, it does not matter by what percentage.
6) If there is a check mark ✅, then each trace of the purchase will be made provided that it is lower by the percentage specified, even if the conditions of the purchase are triggered.
7) The filled area is made for visual display of consolidation zones
Default settings:
RSI length 15, step 1.5, take profit 15, stop order 30.
Also in the settings there is a pyramid of the order, keep this in mind. Enter a deal for a small part of the deposit, and not for all the money at once! You can remove pyramiding and see the results with one entry.
For a more visual understanding, overlay the go_up script.
You can choose a strategy for yourself based on history! If you need examples of strategies, then write to me, my contacts are in the column: instructions from the author.
Successful trades, dear friends, I am glad that you trust me!
GBP-USD with w.volumethis script is base o 200 ema filter and trend for gbp-usd
1. long signal above 36 ema and long trend
2. short signal bellow 36 ema and short trend
3. take 2 profit target according %
4. trailing stoploss on close of every candel
Fourier Analysis and Filtering [tbiktag]This tool uses Fourier transform to decompose the input time series into its periodic constituents and seasonalities , in other words, its frequency components . It also can reconstruct the time-domain data while using only the frequency components within a user-defined range (band-pass filtering). Thereby, this tool can reveal the cyclical characteristics of the studied market.
USAGE
The source and the size of the input data can be chosen by the “ Dataset Source ” and “ Dataset Size ” options. Price, volume, or some technical indicator (e.g., RSI, MACD, etc.) can serve as a source of the input data.
“ Action ” defines the type of the plot that will be displayed. Two options are available:
- Fourier Analysis
If selected, the frequency spectrum of the squares of the Fourier coefficient magnitudes is displayed. The zero-frequency component is on the right. Since the magnitudes of half of the coefficients are repeated, the graph displays only half of the frequency components.
The squared magnitude of a given frequency component is a measure of its power , that is, its contribution to the total variance of the dataset. Thus, by analyzing the frequency-domain spectrum, one can identify the most prominent seasonalities and then visualize them by using the " Band-pass Filtering " option (see below). Note that the zero component stores information about the amount of data, so it is naturally higher when the data is not centered at zero.
By activating the " Info about Frequency Component " option, the user can display information about the power and frequency of the selected Fourier component.
- Band-pass Filter
This option reconstructs and plots the dataset in the time domain, blocking frequency components outside of the cutoff frequencies (defined by the input parameters “ Upper Cutoff ” and “ Lower Cutoff ” input parameters in the “ Band-pass Filter Properties ” section).
FURTHER READING
In general, Fourier analysis has a long history of attempted applications for analyzing price data and estimating market cycles. For example, see the paper by John Ehlers
www.mesasoftware.com
and also some tools available here on TradingView, such as:
“Function: Discrete Fourier Transform” by @RicardoSantos
“Fourier series Model Of The Market” by @e2e4mfck
“Ehlers Discrete Fourier Transform” by @cheatcountry
Thus, I tried to make this tool versatile and user-friendly so you all can experiment with your own analysis.
Enjoy and don't hesitate to leave your feedback in the comments below!
The Bayesian Q OscillatorFirst of all the biggest thanks to @tista and @KivancOzbilgic for publishing their open source public indicators Bayesian BBSMA + nQQE Oscillator. And a mighty round of applause for @MarkBench for once again being my superhero pinescript guy that puts these awesome combination Ideas and ES stradegies in my head together. Now let me go ahead and explain what we have here.
I am gonna call it the Bayesian Q Oscillator I suppose. The goal of the script is to solve an issue both indicators on their own suffer from. QQE signals are not new and often the problem has always been false signals for them. They are good for scalping but the difference between a quality move and a small to nearly nonexistent move following a signal is not so clear. Kivanc made his normalized version to help reduce this problem by adding colors to his histogram type verision that would essentially represent if price was a trending move or in a ranging structure. As you can see I have kept this Idea but instead opted for lines as the oscillator. two yellow line (default color) is a ranging sideways area and when there is red or green it is trending up or down. I wanted to take this to the next level with combining the Bayesian probability oscillator that tista put together.
The Bayesian indicator is the opposite for its issue as it is a probability indicator that shows which candle or price movement is more likely to come next. Red rising means possibly down move soon and green means up soon. I will not go into the complex details of this indicator but will suggest others take a look at his and others to understand the idea behind them. The point I am driving at is that it show probabilities or likelyhood without the most effecient signal device to match it. This original was line form and now it is background filled colors.
The idea. is that you can potentially get some stronger and more accurate reversal signals with these two paired together. when you see a sell signal or cross with the towering or rising red... maybe it is a good jump potentially. The same for green. At the same time it is a double added filter effect from just having yellow represent it is ranging... but now if you get a buy signal (example) and have yellow lines (example) along wi5h a red rising or mountain color background... it not only is an indication of ranging, but also that there is potentially even a counter move coming based on the probabilities. Also if you get into a good trade and see dual yellow qqe crosses with no color represented by the bayesian background... it is possible it might only be noise.
I have found them to work decently in the 1 hour timframe. Let me know your experience.
I hope everyone takes a look at the originals to understand them. Full credit goes to those guys for this to be here. Let me know how it is working out for you.
Here are the original links.
bayesian
Normalized QQE
Exotic SMA Explorations Treasure TroveThis is my "Exotic SMA Explorations Treasure Trove" intended for educational purposes, yet these functions will also have utility in special applications with other algorithms. Firstly, the Pine built-in sma() is exceedingly more efficient computationally on TV servers than these functions will be. I just wanted to make that very crystal clear. My notes elaborate on this in the code blatantly.
Anyhow, the simple moving average(SMA) is one of the most common averaging filters used in a wide variety of algorithms. "Simply put," it's name says a lot about it. The purpose of this script, is to demonstrate variations of it's calculation in a multitude of exotic forms. In certain scenarios our algorithms may require a specific mathemagical touch that is pertinent to our intended goals. Like screwdrivers, we often need different types depending on the objective we are trying to attain. The SMA also serves as the most basic of finite impulse response(FIR) algorithms. For example, things like weighted moving averages can be constructed by using the foundational code of SMA.
One other intended demonstration of this script, is running multiple functions for comparison. I have had to use this from time to time for my own comparisons of performance. Also, imbedded into this code is a method to generically and recklessly in this case, adapt an algorithm. I will warn you, RSI was NEVER intended to adapt an algorithm. It only serves as a crude method to display the versatility of these different algorithms, whether it be a benefit or hinderance concerning dynamic adaptability.
Lastly, this script shows the versatility of TV's NEW additions input(group=) and input(inline=) upgrades in action. The "Immense Power of Pine" is always evolving and will continue to do so, I assure you of that. We can now categorize our input()s without using the input(type=input.bool) hackTrick. Although, that still will have it's enduring versatility, at least for myself.
NOTICE: You have absolute freedom to use this source code any way you see fit within your new Pine projects. You don't have to ask for my permission to reuse these functions in your published scripts, simply because I have better things to do than answer requests for the reuse of these functions. Sufficient accreditation regarding this script and compliance with "TV's House Rules" regarding code reuse, is as easy as copying the functions in their entirety as is. Fair enough? Good!
When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. Have a profitable future everyone!
Efficient Trend Step Mod (v.3)This is a version 3 of my mod of the script by alexgrover - Efficient Trend Step.
The logic is based on calculation of Kaufman's efficiency ratio (ER):
ER = Direction / Volatility
where:
Direction = ABS (Close – Close )
Volatility = n ∑(ABS(Close – Close ))
n = The efficiency ratio period.
This version features volatility and volume filter and custom performance module.
Intraday SeasonalityDay trading trend filter indicator designed to hep get better entries or exits based on historical opens and closes each hour.
This indicator is NOT designed as an entry or exit signal. The purpose behind it is to give you statistical information about how likely certain times of day are either bullish, bearish or neutral and use that to confirm or reject other trading signals.
For example you might be anticipating a breakout based on your strategy or another indicator but see that the next few hours are usually bearish and re-evaluate entering the trade.
The Intraday Seasonality indicator calculates the percentage of candles per hour that had a higher close than open.
Default settings are:
- a look-back of 90 days.
- extreme bullish (bright green) above 74%
-extreme bearish (bright red) below 25%
- bullish (green) above 55%
- bearish (red) below 45%
- neutral (white) exactly 50%
- no trend (gray) 46% - 54%
All of these are updatable via the settings.
This indicator is designed to work only on the 1 hour timeframe.
To use the indicator set your local timezone offset in the indicator settings.
*Due to daylight savings and certain timezones changing throughout the year there is a timezone override in the indicator settings if the indicator doesn't pick up the correct local time.
Monthly SeasonalitySimple indicator designed as filter so you can easily see how the currency or asset performed during each month historically.
Can used to identify a possible month to enter or exit a trade in. For best results use in combination with another indicator or candle pattern to signal an entry in a historically bullish month
*This indicator is designed to be used only on the monthly chart.
Bandpass Filters v.02
This is an alternative way to do bandpass filtering. I Still need to update it to support moveable frequency bands. The lowBandpass() is just a 'trick,' as it simply subtracts the highBandpass() from the close data, so it is not really accurate in that it removes the low frequencies, just in a rather less-than-ideal manner.
The "spectrum" of the dataset to filter will always be from 0 to 100, so think of filter boundary as %. So, a boundary of 40% means: 40% of the low-frequencies have been removed from the original data to make the red graph, and 40% of the high-frequencies have been removed from the original data to make the green graph.
This came about after reading the excellent tutorial on signal processing in Pine Script (www.pinecoders.com), as the techniques listed there did not do exactly what I was looking for.
Here is a low-pass graph
Here is a hi-pass graph
[FTA] Double Responsive Price FilterThis is a very special indicator which uses a series of double filtering methods to filter out bad price data.
Each filter uses a very complex mathematical formula to obtain the data, based on the Wave Function, then applies initial signal filtering on the output.
The output of each filter is then compared to each other, and the output of this stage goes through another signal filtering process which is used in aviation industry (NASA) to track objects and keep them under radar!
The final output is then squeezed through a truncated bandpass filter and plotted as two colors.
This is to ensure a very quick and responsive entry and exit signal without any lagging, and also to ensure that the trader stays in the trade as long as profitable!
Buy when color is aqua.
Sell when color is fuchsia.
TradeChartist Volatility Trader ™TradeChartist Volatility Trader is a Price Volatility based Trend indicator that uses simple to visualize Volatility steps and a Volatility Ribbon to trade volatility breakouts and price action based on lookback length.
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Features of ™TradeChartist Volatility Trader
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The Volatility steps consists of an Upper band, a Lower band and a Mean price line that are used for detecting the breakouts and also used in plotting the Volatility Ribbon based on the price action. The Mean Line is colour coded based on Bull/Bear Volatility and exhaustion based on Price action trend.
In addition to the system of Volatility Steps and Volatility Ribbon, ™TradeChartist Volatility Trader also plots Bull and Bear zones based on high probability volatility breakouts and divides the chart into Bull and Bear trade zones.
Use of External Filter is also possible by connecting an Oscillatory (like RSI, MACD, Stoch or any Oscillator) or a non-Oscillatory (Moving Average, Supertrend, any price scale based plots) Signal to confirm the Bull and Bear Trade zones. When the indicator detects the Volatility breakouts, it also checks if the connected external signal agrees with the trend before generating the Bull/Bear entries and plotting the trade zones.
Alerts can be created for Long and Short entries using Once per bar close .
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Note:
Higher the lookback length, higher the Risk/Reward from the trade zones.
This indicator does not repaint , but on the alert creation, a potential repaint warning would appear as the script uses security function. Users need not worry as this is normal on scripts that employs security functions. For trust and confidence using the indicator, users can do bar replay to check the plots/trade entries time stamps to make sure the plots and entries stay in the same place.
™TradeChartist Volatility Trader can be connected to ™TradeChartist Plug and Trade to generate Trade Entries, Targets etc by connecting Volatility Trader's Trend Identifier as Oscillatory Signal to Plug and Trade.
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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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TradeChartist Donchian Channels Breakout Strategy™TradeChartist Donchian Channels Breakout Strategy is the strategy backtester version of ™TradeChartist Donchian Channels Breakout Filter .
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Features of ™TradeChartist Donchian Channels Breakout Strategy
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Option to plot Donchian Channels of user preferred length, based on the Source price in addition to High/Low Donchian Channels.
Generates trade entries based on user preferred Breakout Price. For example, if the user prefers HL2 as breakout price, irrespective of the Donchian Channels type, trade entries are generated only when hl2 price (average of high/low) breaks out of the upper or lower band.
Option to plot background colour based on Breakout trend. The bull zones are filled with green background, the Bear zones are filled with red background and the bar that broke out is filled with orange background.
Option to colour price bars using Donchian Channels price trend. The Donchian Channels basis line is plotted using the same colours as coloured bars as default.
Note: This script does not repaint. To use the script for trade entries, wait for the bar close without Backtester or Strategy entries (with Backtester) and use a second confirmator (includes fundamentals) based on asset type as some markets require users to have good pulse on the fundamentals as trading by Technicals/price action dynamic alone may not be safe.
Note: Trend Based Stochastic of the same DC Length can be used from ™TradeChartist Risk Meter for Trade Confirmations too.
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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 strategy. Get in touch with me (PM me directly if you would like trial access to test the strategy)
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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TradeChartist Donchian Channels Breakout Filter™TradeChartist Donchian Channels Breakout Filter is an elegant version of the classic Donchian Channels with few extra variations and option to filter breakouts based on user preferred Breakout price selection to generate Trade Entries.
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Features of ™TradeChartist Donchian Channels Breakout Filter
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Option to plot Donchian Channels of user preferred length, based on the Source price in addition to High/Low Donchian Channels.
Generates trade entries based on user preferred Breakout Price. For example, if the user prefers HL2 as breakout price, irrespective of the Donchian Channels type, trade entries are generated only when hl2 price (average of high/low) breaks out of the upper or lower band.
Option to plot background colour based on Breakout trend. The bull zones are filled with green background, the Bear zones are filled with red background and the bar that broke out is filled with orange background.
Option to colour price bars using Donchian Channels price trend. The Donchian Channels basis line is plotted using the same colours as coloured bars as default.
Alerts can be created for long and short entries using Once per Bar Close .
Note: This script does not repaint . To use the script for trade entries, wait for the bar close and use a second confirmator (includes fundamentals) based on asset type as some markets require users to have good pulse on the fundamentals as trading by Technicals/price action dynamic alone may not be safe.
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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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Simple Bollinger Bands Toolkit™TradeChartist Simple Bollinger Bands Toolkit is a useful set of Bollinger Bands based utilities, which includes 0 mean %B Oscillator , price volatility based BB Width , actual Bollinger Bands and BB Breakout Signals .
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™TradeChartist Simple Bollinger Bands Toolkit Features
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Modified %B Oscillator with 0 as its mean
%B Oscillator Over-Bought (typically values > 80/90/100) and Over-Sold zones (typically values < - 80/-90/-100) can be displayed by enabling Show Over-Sold/Over-Bought Zones .
Highs and Lows of the %B Oscillator are displayed to help visualize Divergences.
BB Width as Price Volatility (BB Upper Band - BB Lower Band) can be displayed to visualize BB Squeeze zones.
Actual Bollinger Bands can be plotted by enabling Display Bollinger Bands . To display on main price chart, just move the BB Toolkit to price chart and merge the scales.
Breakout Signals can be displayed by enabling Display Bollinger Bands and Show BB Breakout Signals . This also displays background fill to help visualize the zones since the breakouts of upper/lower bands happened.
The BB Basis/Mean line is colour coded based on the %B Oscillator (%B>0 - Green, %B<0 - Red).
The Toolkit uses Simple Moving Average (SMA) for the basis line.
The default length is 55 and default Standard Deviation is 1. %B Oscillator can be smoothed (default - 5) using EMA to minimize noise. (Use 20 length and 2 standard deviation for classic Bollinger Bands).
Price Bars on the Main Price chart can be coloured by enabling BB Colour Bars .
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TradeChartist Tracker Lite™TradeChartist Tracker Lite is the lite version of ™TradeChartist Tracker and it is an essential real-time multi Indicator tracking toolkit that can be plotted as a standalone Indicator plot and/or a multi symbol tracker/screener for upto 5 different symbols . The indicators included in the tracker are Stochastic Oscillator, RSI , CCI , 10 different Moving Averages, MACD , Bollinger Bands %B, Net Volume and Heikin Ashi Trend.
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™𝗧𝗿𝗮𝗱𝗲𝗖𝗵𝗮𝗿𝘁𝗶𝘀𝘁 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 𝗟𝗶𝘁𝗲 𝗨𝘀𝗲𝗿 𝗠𝗮𝗻𝘂𝗮𝗹
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™TradeChartist Tracker Lite Plot Types
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™TradeChartist Tracker Lite can be used to plot the following.
1. Indicator plot of Chart Symbol on its own, chosen from the 𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗧𝘆𝗽𝗲 dropdown, enabling 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫).
In this example Daily chart of XRP-USDT, 55 period Stochastic is tracked for the chart symbol XRP-USDT.
2. Indicator plot of a Symbol different from the Chart Symbol on its own, chosen from the 𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗧𝘆𝗽𝗲 dropdown by enabling Tʀᴀᴄᴋ ᴀɴᴏᴛʜᴇʀ Sʏᴍʙᴏʟ's Iɴᴅɪᴄᴀᴛᴏʀ and entering the symbol name in the Sʏᴍʙᴏʟ ᴛᴏ Tʀᴀᴄᴋ input box, whilst keeping 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫) enabled.
In this example Daily chart of XRP-USDT, 55 period Stochastic is tracked for the chart symbol BTC-USD.
3. Upto 5 Multiple Symbol Trackers for the Indicator chosen from the 𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗧𝘆𝗽𝗲 dropdown, by disabling 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫) and by entering the number of trackers required in the 𝐍𝐮𝐦𝐛𝐞𝐫 𝐨𝐟 𝐓𝐫𝐚𝐜𝐤𝐞𝐫𝐬 input box under 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 𝗣𝗹𝗼𝘁𝘀 section. Upto 5 Symbols can be tracked and can be input by the user in the input boxes from Sʏᴍʙᴏʟ 1,...Sʏᴍʙᴏʟ 5 . 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫) must be disabled for this plot type.
In this example Daily chart of Crypto Total Market Cap, Bollinger Bands %B is tracked for the chart symbol + 5 other Crypto symbols using Multi Symbol Trackers
4. Indicator Tracker labels can be plotted on Price chart by overlaying the Tracker on main chart and by switching from Separate Tracker Pane - Default to Tracker Labels only on Price Scale in the Lᴀʙᴇʟs Dɪsᴘʟᴀʏ Tʏᴘᴇ dropdown box.
In this example chart of 1hr XLM-USDT, Tracker labels of 55 EMA are plotted for 5 different symbols along with the 55 EMA plot of XLM-USDT.
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𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿𝘀 𝗜𝗻𝗰𝗹𝘂𝗱𝗲𝗱 𝗶𝗻 ™𝗧𝗿𝗮𝗱𝗲𝗖𝗵𝗮𝗿𝘁𝗶𝘀𝘁 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 𝗟𝗶𝘁𝗲
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1. Stochastic Oscillator
2. RSI
3. CCI
4. MA - (10 types included)
5. MACD
6. Bollinger Bands %B
7. Net Volume
8. Heikin Ashi Trend
All of the above indicators can be plotted as independent plots of the Chart Symbol or of a different symbol by enabling 𝐃𝐢𝐬𝐩𝐥𝐚𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐨𝐫 𝐏𝐥𝐨𝐭 (𝐝𝐢𝐬𝐚𝐛𝐥𝐞𝐬 𝐓𝐫𝐚𝐜𝐤𝐞𝐫). Some Oscillators have the option of Pʟᴏᴛ Sᴛʏʟᴇ under their relevant sections, and can be plotted as line, area or a histogram.
Oscillators 1-6 require source price, lookback length and smoothing (where available) for the indicator plot. The colour of the tracker blocks is based on the Upper/Lower bands (where available), specified by the user in the respective sections. For example, if the RSI indicator is chosen to be plotted with Upper band at 60 and Lower band at 40 , the tracker blocks and the Indicator plot paint the values between 40 and 60 in neutral colour which can be changed from the settings.
Multi Window US30 example chart below with various indicators from ™TradeChartist Tracker Lite.
Moving Averages (MA) and MACD
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Tracker Lite plots and tracks one of 10 Moving Averages that can be chosen from the MA ᴛʏᴘᴇ and by specifying the MA Lᴇɴɢᴛʜ .
MACD uses EMA as default for calculating the MACD plots and Tracker data using Fᴀsᴛ Lᴇɴɢᴛʜ , Sʟᴏᴡ Lᴇɴɢᴛʜ and Sᴍᴏᴏᴛʜɪɴɢ . To experiment or use a different Moving Average to calculate MACD , disable 𝐔𝐬𝐞 𝐄𝐌𝐀 (Uɴᴄʜᴇᴄᴋ ᴛᴏ ᴜsᴇ MA ғʀᴏᴍ ᴀʙᴏᴠᴇ) and select the required Moving Average from MA ᴛʏᴘᴇ drop down of the 𝟰. 𝗠𝗼𝘃𝗶𝗻𝗴 𝗔𝘃𝗲𝗿𝗮𝗴𝗲 section.
Net Volume and Heikin Ashi Trend
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Net Volume and Heikin Ashi Trend can be tracked and plotted for up to 5 symbols in addition to the chart symbol, but both Net Volume and Heikin Ashi Trend. Since the colour of the Net Volume depends on candle being bullish or bearish , it can help the user visualize if the current candle close of the symbol tracked is above or below the symbols's candle open.
Note: Bar Replay doesn't update the bar by bar indicator plot for historic bars for symbols other than the chart symbol. However, the Indicator Plot is perfectly usable for the realtime bar as data updates for both the Trackers and the indicator plot in realtime.
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𝗠𝘂𝗹𝘁𝗶 𝗦𝘆𝗺𝗯𝗼𝗹 𝗧𝗿𝗮𝗰𝗸𝗲𝗿𝘀/𝗟𝗮𝗯𝗲𝗹𝘀
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Multi Symbol Tracker blocks continuously track the real-time indicator data of up to 5 symbols (in addition to the chart symbol) based on the number of Symbol Trackers preferred in the 𝐍𝐮𝐦𝐛𝐞𝐫 𝐨𝐟 𝐒𝐲𝐦𝐛𝐨𝐥 𝐓𝐫𝐚𝐜𝐤𝐞𝐫𝐬 (𝟎-𝟓) input box under the 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 𝗣𝗹𝗼𝘁𝘀 section, and plots Bull, Bear and Neutral colour coded blocks based on both the indicator selected and settings preferred by the user under the relevant indicator section.
Multi Symbol Tracker Labels also continuously track the real-time indicator data in addition to the last close price (if 𝐒𝐡𝐨𝐰 𝐏𝐫𝐢𝐜𝐞 is enabled under 𝗧𝗿𝗮𝗰𝗸𝗲𝗿 𝗣𝗹𝗼𝘁𝘀 section), which helps user see the real-time changes in the indicator values and price changes of the symbols tracked.
The Tracker Label colours are exactly the same as the Tracker Block colours and are filtered based on the user preferred bands on the Oscillator values. For example, if the user prefers RSI upper band of 60 and lower band of 40 , the range between the values of 40 and 60 will be colour coded in neutral colour which can be changed from the 𝗨𝘀𝗲𝗳𝘂𝗹 𝗘𝘅𝘁𝗿𝗮𝘀 section of the indicator settings.
Note 1: Default settings are based on the Oscillator mid values. Using Upper and Lower bands for oscillators help spot the oversold and overbought zones and also helps spot breakout threshold based on Indicator values specified by the user. Example chart with visual depiction below using RSI .
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Frequently Asked Questions
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Q: When I load the ™TradeChartist Tracker Lite, why are the values in the labels blurred sometimes?
A: This happens occasionally as shown in the chart below, when the script is loaded for the first time or when a different setting is used.
To resolve this, just hide and unhide the script using the 👁 next to the Indicator title. If it is not visible, just hover the mouse/crosshair over the Indicator Title and it will be visible.
Q: Why does the indicator plot, tracker blocks and labels of Symbols being tracked, not update when I use Bar Replay?
A: As explained in the relevant sections above, historic data for bars and indicators other than chart symbol doesn't update on bar replay. But the chart symbol data does update for every bar on bar replay. This doesn't affect the real-time values and block colours for the symbols tracked.
Q: Can I track real-time values of a currently trading symbol when I'm on a symbol chart that is inactive? For example, can I see labels with real-time BTC values on a Sunday when I'm on a SPX chart when its not in session?
A: Simple answer is no. This is because, the plots are based on bar times of the chart and the symbols are tracked based on the bar time. So if the SPX session ended on Friday, the last known value of the BTC labels will be from Friday and hence it is always recommended to track symbols from a symbol chart that is in session.
Q: Does ™TradeChartist Tracker Lite repaint?
A: This indicator doesn't repaint but it is not recommended to trade a different symbol from the chart based on the real-time data alone without checking if the current symbol chart is in session as inactive price chart will not have updated data on symbols tracked. Also, bar replay doesn't work on data pulled from external symbol data than the chart symbol, but signals confirmed at candle close and confirmed by Tracker blocks with appropriate colour code will be in agreement with the respective indicator and can be double checked for building trust and confidence on the indicator. Also, the indicator is a good companion tool to track various indicators and prices, especially of symbols other than the chart symbol, but, to trade the symbol other than the chart symbol, user must refer to the respective chart.
Q: Can ™TradeChartist Tracker Lite be connected to other indicators as external source?
A: Yes. ™TradeChartist Tracker Lite can be connected to another script and there are several use cases in doing so. A couple of examples are shown below.
1. ™TradeChartist Tracker Lite Bollinger Bands %B 𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗣𝗹𝗼𝘁 connected to ™TradeChartist Plotter to plot Divergences on the 4hr XAU-USD main price chart.
2. ™TradeChartist Tracker Lite 55 period Stochastic 𝗜𝗻𝗱𝗶𝗰𝗮𝘁𝗼𝗿 𝗣𝗹𝗼𝘁 connected to ™TradeChartist Plug and Trade as Oscillatory Signal with 0/0 to generate trade signals with Targets and performance information on trades.
More Example Charts
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Best Practice: Test with different settings first using Paper Trades before trading with real money
The indicator is a good companion tool to track various indicators and prices, especially of symbols other than the chart symbol, but, to trade the symbol other than the chart symbol, user must refer to the respective chart.
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