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Ehlers Stochastic Relative Vigor Index [CC]The Stochastic Relative Vigor Index was created by John Ehlers (Cybernetic Analysis For Stocks And Futures pgs 84-89) and this of course is very similar to the Ehlers Fisher Stochastic Relative Vigor Index I just published. In hindsight I probably should have published this one first but just like with the other script this is a stochastic version of a Relative Vigor Index and I added some smoothing to make buy and sell signals clearer. There are several ways to identify buy and sell signals but generally in the long term it is a buy signal when the indicator is below the oversold line and is moving up and in the short term when the indicator is above it's trigger line which is what I coded the buy and sell signals to follow. Buy when the line is green and sell when it turns red. Let me know if there are any other scripts you would like to see me publish!
Chỉ báo Pine Script®
của cheatcountry
2
Ehlers Fisher Stochastic Relative Vigor Index [CC]The Fisher Stochastic Relative Vigor Index was created by John Ehlers (Cybernetic Analysis For Stocks And Futures pgs 101-104) and this is a many layered indicator created from his original Relative Vigor Index turned into a stochastic and then performing a Fisher transform on the results. I have included extra smoothing to provide clearer buy and sell signals as well as normal and strong buy and sell signals. As always strong signals are darker in color and normal signals are lighter in color. Buy when the line turns green and sell when it turns red. Let me know if there are any other scripts you would like to see me publish!
Chỉ báo Pine Script®
của cheatcountry
6
Kirill ChannelThis indicator shows overbought and oversold zones. Can be used on all time frames. I personally use 15m - 30m. How to apply ?: - There can be many strategies for use! I use this indicator to buy an asset in the green zone and then sell it in the middle of the channel or in the red zone. - I strongly advise against entering counter-trend positions in a growing market if you have little trading experience and understanding of price action. How do I place orders ?: - I place orders in a grid. - If the price is very close to the edge, but it is difficult to reach it, then it is better to open a position on the market and place orders deep into the grid. - If the price is at the edge of the channel for a very long time, then you need to look at a higher timeframe. Algorithm composition: - ALMA - Keltner Channel - Fibonacci Retracement - Custom price percent offset calculations and manipulations. Settings: - I strongly do not recommend changing ALMA. These numbers have been specially calculated. - It's better not to change Borders either. The current algorithm dynamically changes the width of the extreme channels depending on the price movement. - The Keltner Channel was specially selected. - Fibonacci Retracement can be changed. This part of the algorithm can be modified to suit your needs. At the moment, there are settings for aggressive trading. Channel type: - Conservative: Fibonacci Retracement settings (100 ma, 100 atr, 8 mult, 100 smooth) - Aggressive: Fibonacci Retracement settings (25 ma, 25 atr, 3.5 mult, 100 smooth) Сonservative channel does not allow a large number of points to enter positions, however, it is more straightforward and safer for very large movements. I prefer aggressive settings because they allow me to make more profit on the number of trades. Try to use both modes and choose what is preferable for you.
Chỉ báo Pine Script®
của GASANOV_KIRILL
12
RSI Multi TF strategy The RSI is a very popular indicator that follows price activity. It calculates an average of the positive net changes, and an average of the negative net changes in the most recent bars, and it determines the ratio between these averages. The result is expressed as a number between 0 and 100. Commonly it is said that if the RSI has a low value, for example, 30 or under, the symbol is oversold. And if the RSI has a high value, 70 for example, the symbol is overbought. Plots 3 RSI (Weekly, Daily, 4h) at the same time, regardless of the Chart Timeframe. Highlights in green (or red) if all RSI is oversold (or overbought). Can trigger custom oversold and overbought alerts when all 3 lines grey(4h), yellow(weekly), and red(daily) go in the oversold or overbought zone. The strongest the curves break the barrier the strongest the alert (vertical red and green bars) shows.
Chỉ báo Pine Script®
của anaryan
NEXT Stochastic 3xVW (Triple Volume Weighted)Overview: This responsive version of the Stochastic oscillator modifies and extends the original to incorporate volume. It does so on 2 levels: by using Volume-Weighted Moving Average (VWMA) as input and applying a triple volume weighting filter within the internal algorithm, intelligently blending volume with what is otherwise pure momentum/distribution analysis. The result is more binary-like curve behavior (%K and %D oscillator lines), whose polarizing movement acts as both a signal and filter. Below is a screenshot comparing NEXT Stochastic 3xVW with default settings to the original Stochastic oscillator on NQ M1 chart. Application and Strategy Ideas: NEXT Stochastic 3xVW is intended to be used like the original Stochastic oscillator within the context of technical analysis: identifying overvalued (above upper limit) and undervalued (below lower limit) price action, as well as establishing a bias baseline (bullish if over 50; bearish if under 50). Higher NEXT Stochastic 3xVW bottoms compared to lower price bottoms signify bullish divergence; lower NEXT Stochastic 3xVW tops compared to higher price tops signify bearish divergence. Trading %K/%D line crossing is also a popular strategy, with %K crossing over %D indicating bullish sentiment and %K crossing under %D indicating bearish sentiment. Below is a screenshot showing NEXT Stochastic 3xVW overbought/oversold intraday strategy on SPY M1 chart. NEXT Stochastic 3xVW is set to 5,10,1,3 with long signal issued at lower limit of 30 and short at upper limit of 70. Input Parameters: VWMA Length - controls the averaging length of the volume-weighted moving average (based on close price and volume); used as Stochastic input %K Length - volume-driven averaging length of the %K oscillator line - this is the faster of the two Stochastic lines %K Smoothing - volume-driven smoothing factor of the %K line %D Smoothing - volume-driven averaging length of the %D oscillator line (a %K derivative, post smoothing) - this is the slower of the two Stochastic lines Upper Limit - the NEXT Stochastic 3xVW level above which market is considered overbought, default is 80 Base Bias - the NEXT Stochastic 3xVW level above which market bias is considered bullish, and below bearish Lower Limit - the NEXT Stochastic 3xVW level below which market is considered oversold, default is 20 Signals and Alerts: Discover and visualize NEXT Stochastic 3xVW strategies using the companion NEXT Strategy Visualizer indicator. While the %K/%D cross alerts can be set via NEXT Stochastic 3xVW indicator, the Strategy Visualizer will only plot long/short signals when %K or %D cross over or under overbought/oversold levels (as hown in the above SPY M1 screenshot). That being said, the next version of the Strategy Visualizer will also support %K/%D crosses. Here is how to set NEXT Stochastic 3xVW %K/%D crossing alerts: open a chart, attach NEXT Stochastic 3xVW, and right-click on chart -> Add Alert. Condition: Next Stochastic >> %K >> Crossing >> Next Stochastic >> %D
Chỉ báo Pine Script®
của ChartVPS
RSI Trend LineI took a concept similar to the "Adaptive RSI" to get the RSI overlaid on a price chart. The problem I have with the Adaptive RSI is to me it sticks too closely to price. I wanted something much more visually helpful that can provide actual tradable signals and strategies. The orange line you are seeing is the "RSI Trend Line" The further the RSI moves away from a value of 50 (the "zero line"), the more you see this orange line move away from price. This helps visualize the strength of price pushing away from a neutral value to a position of strength or weakness-- if orange is below price then relative strength is high; if orange is above price then relative strength is low. When price is equal to the orange RSI line, the RSI is at a value of 50. In addition to the trend line, you can enable bands which reflect Overbought and Oversold levels . If you leave the responsiveness to a value of 1.0 and removed any smoothing, these should pretty accurately reflect an actual RSI chart topping the OB and OS lines (default 70 and 30, respectively). (They're still very close with different responsiveness and smoothing values) The conversion or scaling of RSI value onto price comes with a bit of a quirk which I decided to leave to the user to determine how they want it applied. So the setting "Responsiveness" will impact the sort of aggressiveness of the RSI trend line as well as the the size of the bands. You could think of this in some ways as the OPPOSITE of the multiple setting on a Bollinger or Keltner band-- 1.0 will make for the widest band, 2.0 is the default and my preference, and you can move it up to a value of 5.0. Here are some examples of how you could use the indicator for trade signals-- And here's my thought on the current state (as of 10/06) on indices with regards to this indicator-
Chỉ báo Pine Script®
của chrism665
14
McClellan Oscillator Jack Corsellis [LazyBear Modified]Developed by Sherman and Marian McClellan, the McClellan Oscillator is a breadth indicator derived from Net Advances, the number of advancing issues less the number of declining issues. Subtracting the 39-day exponential moving average of Net Advances from the 19-day exponential moving average of Net Advances forms the oscillator. As the formula reveals, the McClellan Oscillator is a momentum indicator that works similar to MACD . McClellan Oscillator signals can be generated with breadth thrusts, centerline crossovers, overall levels and divergences. The original code was written by LazyBear ( code here: ) We have modified this code: 1. Added the ability to display and configure the overbought and undersold lines which are key to properly using this indicator. These are set to default +40 and -75 respectively. 2. This version uses USI:ADV(advances- issues) and USI:DECL (declines - issues) as the default.
Chỉ báo Pine Script®
của JackCorsellis
2
Baekdoo multi OverSold OverBuy colored CandleHi forks, I'm trader Baekdoosan who trading Equity from South Korea. This Baekdoo multi OverSold OverBuy colored candle will give you the idea of multiple indicators in one shot with colored candle. Those indicators tell us that oversold or overbuy statistically. For the color, you can freely change based on your comfort. For me, in Korea white candle has red color and black candle has blue color. So somewhat confusing for you. Anyway you can easily modify color in the script. Please refer this line. barcolor(open<close and result_pos == 4 ? color.new(color.red, 0) : open<close and result_pos == 3 ? color.new(color.red, 25) : open<close and result_pos == 2 ? color.new(color.red, 50) : open<close and result_pos == 1? color.new(color.red, 75) : na) you can see I put different transparency at color.new() function with color code. Let me divide and conquer to explain for up candle white candle and black candle. 1. White candle with 4 oversold signal case with white candle tells us it is almost reached real bottom and try to rebound. In this case, I put vivid color (no transparency) on the candle. And all 4 signal case, I put text on "OverSold". It will not happen frequently. Then 2 approaches can be made. (a) short term approach You can buy on this time. and you set stop loss with open price. This is mainly aimed for technical rebound. (b) long term approach You can accumulate based on your budget with 5 times dividing. At that day might not be the very bottom but those period will most probably real bottom. You can put more weight on latter buy. Let say, 1 : 1.25 : 1.5 : 1.75 : 2.5. So for example, if you have $8,000 to investigate then, buy $1,000 and then $1,250, $1,500, accordingly. If price rebound then don't adding weight on accumulation but with the first amount that you buy(i.e., $1,000 with above example). With this approach, you will not have much stress and you will get profit well. If this is grand bottom case, then you can HODL this long term. What you needs is stick to the plan. :) with 3 signals the color is less vivid, 2 signals is much less vivid, accordingly. 2. Black candle The approaches are opposite to above. The signal will tells us for 4 overBuy signals, then vivid blue candle will be shown. Our strategy is distribute to sell. Please do not sell in one shot. As Newton said, "I can calculate the motions of the heavenly bodies, but not the madness of the people". Strong buy phase, we don't know how far will it go. But indicators will tell us it is quite overSold situation. So what I can suggest you is sell it 10% to 20% on resistance price, and put 50% of lower than certain support price. Remember, accumulation and distribution will always better than one shot trading if you want to survive long time on this war field. Hope this will help your trading on equity as well as crypto. I didn't try it on futures. Best of luck all of you. Gazua~!
Chỉ báo Pine Script®
của traderbaekdoosan
Roc Mean Reversion (ValueRay)This Indicator shows the Absolute Rate of Change in correlation to its Moving Average. Values over 3 (gray dotted line) can savely be considered as a breakout; values over 4.5 got a high mean-reverting chance (red dotted line). This Indicator can be used in all timeframes, however, i recommend to use it <30m, when you want search for meaningful Mean-Reverting Signals. Please like, share and subscribe. With your love, im encouraged to write and publish more Indicators.
Chỉ báo Pine Script®
của derMatzeImNetz
Multiband Oscillator - Zigzag versionJust variation of Multi Band oscillator present here: Multi-Band-Channel-Oversold-Overbought-Oscillator Changes are: Instead of regular moving average, here I am using Zigzag Moving average. This is calculated in similar to as explained in: Zigzag-Cloud Instead of ATR, using AZR (Average Zigzag Range) - Average-Zigzag-Range-AZR Rest of the logic remains same. Number of bands used 100 - which means, calculate 100 Bollinger bands with Std Dev Multiplier starting from 0.1 and with step 0.1 for the next one. Which divides price ranges into 200 equal parts. Calculate what is the current range and plot them. Overbought - Oversold levels are dynamics. They are dependent on the max and min state price has reached in last 80 days. Offset and factor can be used to adjust overbought oversold levels.
Chỉ báo Pine Script®
của Trendoscope
6
Ehlers Adaptive Stochastic Indicator V1 [CC]The Adaptive Stochastic Indicator V1 was created by John Ehlers (Rocket Science For Traders pgs 233-234) and this indicator uses the same calculations to find a cycle period that is then used for both the creation of the stochastic indicator but also for the smoothing to create a double smoothed stochastic indicator. Because it is calculated this way, this indicator is more reactive than almost any other stochastic indicator and provides clear buy and sell signals especially when the underlying stock is trending. It is interpreted in the same way as a normal stochastic indicator so great buy signals are when the indicator is below the oversold line and starts to move up and vice versa. 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!
Chỉ báo Pine Script®
của cheatcountry
4
Relative Strength Index 2x maThe relative strength index, represented as two moving averages with periods, one of which will be a multiple of the longer moving average by the amount you set. The indicator can work both in automatic and manual mode. In automatic mode, the optimal periods are selected, in my opinion, depending on which timeframe is being analyzed at the current moment. In manual mode, you can set the required period yourself. You can also set the method of smoothing the moving averages yourself and apply them to the opening or closing, the minimum of the bar, etc. An important point: it is possible to enable/disable graphical functions that may not be required - just check the box next to the function that you want to see on your indicator. Show ConDiv? - enabling / disabling the convergence/divergence function of the moving averages of the RSI indicator (not to be confused with the MACD for the asset price chart) Show ma? - enabling/disabling the graphical display of the moving averages of the RSI indicator Show RSI? - enabling / disabling the standard RSI indicator (if you want to see only it, check the box opposite; in this case, you need to remove the other two checkboxes) I wish you good luck in building your trading plans, and remember: such indicators do not predict the future price movement on the chart, they only determine the characteristics of the price movement at the current time, taking into account historical data.
Chỉ báo Pine Script®
của Best_Solve
3
EMA Price DistanceEMA Price Distance, EMAPD for short, is a trend following indicator that can help you predict how price is going to move, in respect to your EMA. It can give overbought and oversold signals, as well as ranging market and retracement signals. The indicator consists of three parts, the Difference Line, the Average Line, and the Histograms. - The blue line is the Difference Line. It is calculated from difference between the close price and the EMA. An increasing Difference Line indicates price moving further away from the EMA. - The purple line is the Average Line. It is calculated based on the average of the difference Line for a certain lookback period. - The Histograms are the difference between the Difference Line and the Average Line Some basic signals: - The easiest signal to spot is when the Difference Line is further away from the Average Line than normal. This usually signifies a retracement in the near future. - Another signal is when the histograms are making smaller peaks or troughs, approaching 0. Signifies that price is retracing towards EMA. This can also be seen when the Difference Line is below the Average Line How to Use: The first use case is to detect when the market is ranging. This can be seen when both lines near 0 like so: Another use case, is to use the indicator to signify how strong the current trend is / how likely it is to continue. This is signified by the Difference Line and Average line making higher highs We can see that as the trend continues, both lines increase in harmony. EMAPD can also be used to give easy to see signs of retracement or reversal. Here we can see that the Difference line made a lower high as well as crossed below the Average Line. Whether this is a retracement or reversal usually depends on how the long the trend has occurred. The longer, the more likely of a trend reversal One of the best use cases is to keep you out of bad trades. This usually happens right before a trend starts, when the market is choppier. This is when you usually get a lot of fake outs and false signals. Here are 2 examples of where someone trading Supply and Demand would've been kept out of a losing trade. In the first purple oval, a supply zone is formed. As price re enters the zone, it would be tempting to go long but the EMAPD is creating lower lowers on the histograms, signifying that price is moving closer to its average instead of expanding. We also get the Difference Line to cross under the average line, signifying price is moving closer to the EMA than it has been recently. These signals tell us that price has a good chance to "re group" with the EMA, which it ends up doing. This also kept us out of the second trade, signified by the second purple oval. Here, we can see the difference line creating lower lows, signaling that price is moving closer to the EMA.
Chỉ báo Pine Script®
của TylerWanta
2
TradeChartist Catalyst™TradeChartist Catalyst is an elegant script that combines Catalyst Trade Bands and automatic ZigZag/Fibonacci plots using an original logic to help users interact in a visually engaging and meaningful way with the charts. =================================================================================================================== ™TradeChartist Catalyst features ============================= 1. Catalyst Trade Bands Catalyst Trade Bands comprises Equilibrium or Mean Bands, Inner Bands, Outer Bands and a Overall Mean Line. Catalyst Trade Bands help visualize the price action in relation to the Equilibrium Bands and clearly show how far away from the mean the current price is. The Trade Bands are of two types - Normal and Weighted. Weighted Bands are very sensitive to price action and a higher Bands length is recommended. Simple 144 vs Weighted 144 Trade Bands 2. Equilibrium Touch Points Every time the price touches the Equilibrium, an orange touch point appears on the chart. Normally, the Equilibrium line, for an optimal sample, acts as support or resistance. Price breaching or failing this line usually signals a Pull Back, a Throw Back or a Trend Change based on how the price interacts with it. This can be used with a secondary confirmation like RSI, Stochastic etc. For example, if the price falls back significantly only to touch the Equilibrium Line and fails to test the Overall Mean Line when Stochastic is below 30, this could mean a strong Pull Back rather than a Trend Change as shown in the example chart below. When price fails the Equilibrium Bands, the fill colour of the Equilibrium bands changes to Bearish colour. If the Overall Mean line is below the Equilibrium bands and is in a reasonable distance, Mean will act as support as shown in the example below. Price failing the mean will test Inner Bands and strong bear momentum could take price to Outer Bands and beyond. All the components of the Catalyst Trade Bands including the Touch Points can be enabled or disabled from the settings. 3. ZigZag & Fibonacci Catalyst automatically plots ZigZag and Auto Fibonacci Retracement based on an intelligent logic and can be tweaked by changing the Zigzag & Auto-Fibs Factor from the settings. It also plots Fib ratios and connectors along with price highs and lows of ZigZag. The ratios can be especially useful to visually detect harmonic patterns and also serves as a useful feature for Fibonacci traders. 4. Fibonacci Customisation Catalyst users can customise Fibonacci type and levels, including levels colour from Catalyst settings. In addition to Auto-Fibs, users can also plot Fibonacci levels based on Days or Candles lookback. This is a very useful feature if the user wants to override Auto-Fibs to suit his/her needs. Users can also reverse the Fibonacci Levels by enabling Reverse from settings. In the following example chart of OANDA:USDCAD , Fibonacci levels based on 10 days lookback is plotted. =================================================================================================================== Best Practice: Test with different settings first using Paper Trades before trading with real money ===================================================================================================================
Chỉ báo Pine Script®
của TradeChartist
43
Folded Relative Strength Index [CC]The Folded Relative Strength Index was created by Richard Poster (Stocks and Commodities July 2021 pg 21) and this indicator provides both trend strength but also momentum and of course reversal points using the overbought and oversold markers. If the indicator line is above the mid line then this shows upward momentum and when it falls below the midline then this means it is losing momentum. When the indicator rises above the signal line then this shows upward trend strength and vice versa. Buy when the indicator 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!
Chỉ báo Pine Script®
của cheatcountry
Market phases 2.0The Market Phase 2.0 indicator is designed to display the following features: 1) The TREND OSCILLATOR : This trend oscillator indicates the trend of the stock/instrument. It is calculated on the basis of number of positive candles or negative candles formed during a specific period. The oscillator oscillates around the zero horizontal line. The trend is considered bullish if the oscillator value is positive and the trend is considered negative if the oscillator value is negative. 2) The MOMENTUM OSCILLATOR: The momentum oscillator indicates the short term momentum of the stock/instrument. It is calculated on the rate of change of close price for a specific period in the past. The Momentum oscillator oscillates around the zero horizontal line. If the momentum oscillator has a positive value, the momentum is considered to be on the bullish side and similarly if the momentum oscillator has a negative value, the momentum is considered to be on the bearish side. 3) The SIGNAL LINE: The signal line is represented by the yellow color line. The Signal line combines the value of the Trend oscillator and the Momentum oscillator. The signal also moves around the zero line. There are two dotted lines above and below the zero line. When the signal line crosses the upper dotted line, it indicates that the stock/instrument has moved on the upper side too quickly or sharply and the ongoing move may not continue for long. It may also be considered as overbought at that point. A red triangle appears at that point. Similarly, when the signal line crosses the lower dotted line, it indicates that the stock/instrument has moved on the downside too quickly or sharply and the ongoing down move may not continue for long. It may also be considered as oversold at that point. A green triangle appears at that point. The values for the look back period of the signal line and the values for the upper range and lower range of the indicator can be changed by going to the settings of the indicator. ***Disclaimer: The market movement depends upon a lot of factors which are beyond the scope of this indicator. Hence the indicator may display results not intended on rare occasions. Trading in the markets involves involves huge risks and one should always follow his/her own research before taking any trading decisions.
Chỉ báo Pine Script®
của skynet970
2
SuperTrend Oscillator [LuxAlgo]This oscillator is made of three components, all derived from the SuperTrend indicator. This approach allows the user to easily determine overbought/sold zones, identify whether a retracement is present or if the price is ranging or trending. It also allows for the anticipation of the potential price cross with the SuperTrend. We provide additional information including whether a signal returned by the SuperTrend was false, as well as the percentage of false signals. Settings Length: Period of the "average true range" used in the calculation of the SuperTrend Mult: Multiplicative factor for the "average true range" Smooth: Determines the degree of smoothing of the histogram Misc: Fixed Transparency: Use a fixed transparency for the main oscillator Show Lines: Show the lines displayed by the indicator Show Labels: Show the labels displayed by the indicator Usage The indicator is in a range of (-100,100) with values closer to 100/-100 indicating a stronger trend. The main oscillator value above 0 indicates that the price is above the SuperTrend. It is possible to identify when a retracement is present in a trend. This is often indicated by an oscillator value moving within 50/-50. Each overbought/oversold level can be used to determine potential exit points. The indicator also includes two additional oscillators derived from the main oscillator. A smoothed version of the main oscillator (Signal), and a smoothed version of the difference between the Main and Signal oscillators (Histogram), thus making the oscillator part of the indicator more similar to MACD. One can use the histogram to anticipate when the price might cross the SuperTrend by comparing the sign between the main and histogram. Potential false signals can also be filtered with this method. Certain crosses between the price and SuperTrend can be filtered out when the histogram and main oscillator have a different sign (here main = 1, histogram = -1). We include various indications in order to analyze the signals returned by the SuperTrend. The indicator displays symbols indicating whether a signal was false or not. A cross symbol will be displayed at the top of the displayed lines when the previous Buy signal was false, else a checkmark is displayed. Symbols displayed at the bottom of the lines are referring to sell signals. We also provide a percentage of false signals, calculated over the entire chart history. Details The scaling method used is similar to max-min normalization. We first compute the difference between the price and SuperTrend and divide the result by the difference between the upper and lower extremity used to compute the SuperTrend. Values higher than (1,-1) can occur when price crosses the SuperTrend and as such we use the max and min functions to attenuate these. The filter used to compute the signal line is based on exponential averaging and is fully adaptive. The smoothing factor used for its computation is the squared value of the main oscillator, divided by length . Since higher values of the oscillator are associated with trending markets, the filter will be closer to the main oscillator when the market is ranging.
Chỉ báo Pine Script®
của LuxAlgo
48
(JS) Interchanging ATR & VWAP BandsOkay so this is pretty simple, but I think it's a great tool for day trading especially. I just took the default VWAP and Keltner channel scripts and combined them together. The top option allows you to choose which one you'd prefer to use, "Use ATR instead of VWAP" . The next options, "ATR Source", "KC Length", and "ATR Length" are the parameters for the ATR Bands. "Number of Bands" allows you to choose how many bands you'd like to be on display (you can choose 1-8). "Use Expoential MA" and "Band Style" are more default parameters from Keltner Channels used to set up the ATR Bands. The "ATR Bands" are just stacked Keltner Channels separated by 1 ATR each, whereas the "VWAP Bands" are separated by standard deviation just like the default script from Trading View. In these example chart, you can see the weekly VWAP with 8 deviation bands and 5 ATR bands with Keltner Channels.
Chỉ báo Pine Script®
của J-Streak
2
Overbought/Oversold BandsThe basis of this script is my "Hybrid Overbought/Oversold Detector" which uses many different oscillators to confirm overbought/oversold conditions. The main idea is to generate higher and lower bands around the desired moving average using an average of the volatility (ATR) and the standard deviation (StDev), of course by interfering detected overbought/oversold condition. Simply put, the more the asset become overvalued/undervalued, the tighter the channel would be and every breakout of the bands announces a return back into the channel in near future. By default, the multiplier of the standard deviation in the indicator settings is set to 2 which means only less than 5% of price actions would appear outside the bands. Also the default multiplier of the ATR is set to 3 which leads to some similar result, but to achieve more strict results setting StDev multiplier to 3 and ATR multiplier to 4 would be useful. The type of the central moving average could be picked up from 6 different types which are: - SMA (Simple Moving Average) - EMA (Exponential Moving Average) - HMA (Hull Moving Average) - LSMA (Least Squares Moving Average) - TMA (Triangular Moving Average) - MAEMA (My Personalized Momentum Adjusted EMA) The latter one leads to a useful combination of the channel with the momentum. Also the script has multi-timeframe features and the user could apply calculations from other time frames to the current chart. Hope the idea would be helpful!
Chỉ báo Pine Script®
của informanerd
2