Impactful pattern and candles pattern AlertThe Alertion indicator!
impactful pattern:
pattern that happen near the zone or in the zone at lower timeframe and give us entry and stop limit price.
It is helpful for price action traders and those who want to decrease their risk.
There are 3 IP patterns:
Quasimodo
Head and shoulder
whipsaw engulfing
These patterns may occur near the zone or may not occur but by them, you can decrease your trading risk for example you can
trade with half lot before IP pattern and enter with other half after pattern.
how to use?
for example:
you find zone at 1h timeframe for short position
when price enter to your zone
you run this indicator and choose your lower timeframe, for example 15m and click on short position.
Then make the alert by right-click on your chart and choose the add alert and at condition box choose the impactful pattern and then click on create
now wait for message :)
Candles pattern:
like reversal bar, key reversal bar, exhaustion bar, pin bar, two-bar reversal, tree-bar reversal, inside bar, outside bar
these occur when the trend turn, so it is usable when the price enter to your zone or near your zone.
This pattern can decrease your risk.
Inside bar and outside bar:
if this pattern engulf up, it is bullish pattern and if engulf down, it is bearish pattern.
what does this indicator do?
this indicator is for making alert
it helps you to decrease your risk and failure.
You optimize it to alert you when IP pattern happen or candle pattern happen or inside bar or outside bar engulfing or all of them.
For IP pattern, it will message you entry and stop limit price.
It works at 2 different timeframes, so you can make alert for example in 1h TF for candles pattern and 15m TF for IP pattern.
Indicator will alert you for candles pattern at your chart timeframe and for IP pattern at timeframe you've chosen when you run the indicator, and it is changeable
in setting.
setting options
TIMEFRAME
IP: select the timeframe for IP patterns it means when IP pattern happen at that timeframe the indicator will alert you
example = your TF is 1h, you found the supply zone and want to trade, note that IP pattern happen in lower TF, so you select 15m TF or TF lower than 1h.
Short position: select it if you want to make short position.
BUFFERING
indicator send you entry and stop limit price
you can change it by amount of percent
it is your strategy to change your entry and stop loss or not
example= in head and shoulder pattern at short position, the stop limit is high price of head in pattern
so the indicator will message you the exact price but if you want to put
your stop limit 5 percent upper than exact price you can enter 5 in front of stop loss
or you want to enter 5 percent lower than exact high price of shoulder, you can optimize it.
ALERTION
you choose what alert you want
IP alert or candle alert or inside and outside bar alert
type your text for alert
you can write additional text for your message
ADVANCE
IP alert frequency option:
1. Once per bar : indicator will alert you for IP pattern once at your chat timeframe bar, and you should wait til next bar for next alert.
2. Once per bar close : alert you when your chart timeframe bar closed and next alert will happen when next bar is closed.
3. All: alert you all the times IP pattern happen
pivot left and right bars: lower will find smaller pattern
at the END:
this indicator is not strategy
it is part of your strategy that help you to increase your winning rate.
It is helpful for scalping and candle patterns finding.
After you make an alert, you can delete the indicator or change your timeframe or make another alert, your previous alert won’t change.
Thank you all.
Scalping
EMA-Deviation-Corrected Super Smoother [Loxx]This indicator is using the modified "correcting" method. Instead of using standard deviation for calculation, it is using EMA deviation and is applied to Ehlers' Super Smoother.
What is EMA-Deviation?
By definition, the Standard Deviation (SD, also represented by the Greek letter sigma σ or the Latin letter s) is a measure that is used to quantify the amount of variation or dispersion of a set of data values. In technical analysis we usually use it to measure the level of current volatility.
Standard Deviation is based on Simple Moving Average calculation for mean value. This version is not doing that. It is, instead, using the properties of EMA to calculate what can be called a new type of deviation, and since it is based on EMA. It is similar to Standard Deviation, but on a first glance you shall notice that it is "faster" than the Standard Deviation and that makes it useful when the speed of reaction to volatility is expected from any code or trading system.
What is Ehlers Super Smoother?
The Super Smoother filter uses John Ehlers’s “Super Smoother” which consists of a a Two-pole Butterworth filter combined with a 2-bar SMA (Simple Moving Average) that suppresses the 22050 Hz Nyquist frequency: A characteristic of a sampler, which converts a continuous function or signal into a discrete sequence.
Things to know
The yellow and fuchsia thin line is the original Super Smoother
The green and red line is the Corrected Super Smoother
When the original Super Smoother crosses above the Corrected Super Smoother line, its a long, when it crosses below, its a short
Included
Alerts
Signals
Bar coloring
SMA VWAP BANDS [qrsq]Description
This indicator is used to find support and resistance utilizing both SMA and VWAP. It can be used on lower and higher time frames to understand where price is likely to reject or bounce.
How it works
Rather than using the usual calculation for the VWAP, instead this script smooths the volume first with the SMA and then respectively calculates the smoothed multiplication of high, low and close price with the volume individually. These values are then divided by the smoothed volume to find individual VWAP's for each of the sources. The standard deviations of these are calculated, resulting in an upper, lower and middle band. It is essentially VWAP bands with some smoothed calculations in the middle.
How to use it
I like to use the bands for LTF scalping as well as HTF swings.
For scalping:
I tend to use either the 5m or 15m TF
I then set the indicator's TF to 1m
I will take a scalp based on the bands confluence with other PA methods, if price is being either supported or rejected.
For swings:
I tend to use a variety of TFs, including: 30m, 1H, 4H, D
I then set the indicator's TF to "Chart"
I will take a swing based on the bands confluence with other PA methods, if price is being either supported or rejected.
I also tend to use them on perpetual contracts as the volume seems to be more consistent and hence results in more accurate support and resistance.
Relative Andean ScalpingThis is an experimental signal providing script for scalper that uses 2 of open source indicators.
First one provides the signals for us called Andean Oscillator by @alexgrover . We use it to create long signals when bull line crosses over signal line while being above the bear line. And reverse is true for shorts where bear line crosses over signal line while being above bull line.
Second one is used for filtering out low volatility areas thanks to great idea by @HeWhoMustNotBeNamed called Relative Bandwidth Filter . We use it to filter out signals and create signals only when the Relative Bandwith Line below middle line.
The default values for both indicators changed a bit, especially used linreg values to create relatively better signals. These can be changed in settings. Please be aware that i did not do extensive testing with this indicator in different market conditions so it should be used with caution.
TrapLightTrap Light is built off the stochastic RSI to provide convenience and make your entries while scalping either long/short more straightforward.
Notes/Disclaimer:
This indicator is not guaranteed to work every time. Use it at your own discretion and perform your own due diligence. None of this is financial advice.
The main idea behind this is that when the stochastic RSI reaches such extremes that it often moves in a favorable direction.
K = momentum or the blue line of the stochastic RSI indicator.
Perks:
Don't have to look away from candlesticks and measure stochastic RSI's K level.
Simple visual indication of what to do.
Don't have to stare at your chart all day waiting for things to get exciting.
How to Use:
(Above the current candlestick on any timeframe)
1. When K is greater than or equal to 99.5, it shows a sell signal. This is to indicate a short entry.
2. When K is less than or equal to 0.5, it shows a buy signal. This is to indicate a long entry.
3. If neither the conditions for a short/long entry are present, it shows a circle that is like a traffic light.
Red Light: When K is between 99.5 and 95, a red circle is shown to indicate that a short entry may be available soon.
Yellow Light: When K is between 95 and 5, a yellow circle is shown to indicate that neither a long nor short entry may be available soon.
Green Light: When K is between 5 and 0.5, a green circle is shown to indicate that a long entry may be available soon.
Alerts:
Set an alert on the ticker you trade to notify you when either the green or red light is present so that you have time to prepare to make an entry either long/short.
The Code:
The PineScript is open-source and annotated to explain different parts of the script for ease of understanding.
@Credit to Kingson1 for this strategy and his feedback on its creation/implementation.
Pips-Stepped PDFMA [Loxx]Pips-Stepped PDFMA is and Pips-stepped moving average that uses a probability density function moving average. This is tuned for Forex. You must adjust the step size to extreme levels for this to work for crypto or stocks. Try 30000 for BTC on the daily chart, for example.
What is Probability Density Function?
Probability density function based MA is a sort of weighted moving average that uses probability density function to calculate the weights.
Included:
Bar coloring
Alerts
Expanded source types
Signals
Flat-level coloring for scalping
Easy Scalping by JayKasunBINANCE:BTCUSDTPERP
This indicator can show stochastic RSI K and D line crosses and some candlestick patterns on chart.
You can use this indicator to scalping, check usage for more info. Always backtest before trading with your real money.
This indicator will also help mobile TradingView users to get an idea when getting stochastic RSI signals, they can use this indicator to check if stochastic RSI K and D crossed or not. ( Because they have limited area to view chart ) .
4 Exponential moving averages are there in the indicator with easy enable disable option. 9 , 21 , 55 , 100 is suggested as default values.
Meanings of signs in chart
Blue triangle bellow candle means it's a stochastic RSI K and D line cross in oversold level
Red triangle above candle means it's a stochastic RSI K and D line cross in overbought level
Green plus sign shows when EMA 50 crossover EMA 100
Red plus sign shows when EMA 50 cross bellow EMA 100
Features
You can enable candlestick pattern displaying when stochastic RSI K and D cross happen. Check indicator settings.
You can enable displaying ATR Trailing Stops in indicator settings.
Indicator will only show blue triangle after Green plus sign and Red triangles after Red plus sign
After you enable candlestick pattern option, stochastic RSI crosses with candlestick patterns will show in deferent colors. Blue triangle will turn into green and Red triangle into pink.
Usage
Use lower time frames like 5m or 15m
After green plus sign, if price retouched 21 EMA or 55 EMA and blue triangle appeared , you can enter a long position.
After red plus sign, if price retouched 21 EMA or 55 EMA and red triangle appeared , you can enter a short position.
Always wait for candle close . signs of chart can be changed when candle closing. ( Does repaint until candle close )
Use ATR trailing to get a stop loss price.
Use 1:1 or 1:0.5 Risk Reward ratio. Because it's scalping and lower time frame.
Use more indicators like RSI to get more confirmations ( like divergences ) before entering a trade. Its more reliable.
Candlestick Patterns Short names
H - Hammer
IH -Inverted Hammer
BE - Bullish Engulfing ( green triangle )
BE - Bearish Engulfing ( pink triangle )
BH - Bullish Harami ( green triangle )
BH - Bearish Harami ( pink triangle )
I have included ATR + Trailing Stops by SimpleCryptoLife and Candlestick Patterns Identified (updated 3/11/15) by repo32
this is a combination of multiple indicators
credit goes to original creators of above indicators
God Number Channel V1 (GNC V1)Channel, made of 5 MAs, which a made this way: High of N-period SMA - Low of N-period SMA + X-period SMA (check the code), where N and X are defined by your input.
Main purpose: helps you understand in what range price can move.
WARNING!
HAS TO BE USED WITH OTHER INDICATORS TO HAVE MORE ACCURATE ENTRIES!!!
If the price is above or below the channel, it means that the movement is very strong and you count it as a trend, but be careful then the price returns to the channel, as correction will follow very soon. Use fib correction tool to understand the approximate depth of correction, works pretty good.
Recommendation: consider using the Vortex Indicator( len 21 and 14 are fine; for trend) and "Vumanchu Divergencies + B"(for anything, but calibrate for accuracy, otherwise there will be too much false signals). If you want to see more options where the price might go, just add new MA and add/substract to/from its value avg1*(any of fibonacci correction levels, I personally use 1.618 and 2.618 and for me it is ok): plot(show_ma1 ? ma1+( [ [ ]]]*avg1) : na, color = ma1_color, title="MA №1")
Recommendations and feedback are welcome(!)
Take your wins
Fractal Potential EntryFractal Potential Entry combine 3 ema and fractal and follow the strategy from Trade Pro on YouTube:
www.youtube.com
with good performance on the 1 minute chart
Feature:
Alert Sell and buy Potential Entry
Happy Trading
CHN BUY SELLCHN BUY SELL is formed from two RSI indicators, those are RSI 14 and RSI 7 . I use RSI 14 to determine the trend and RSI 7 to find entry points.
+ Long (BUY) Signal:
- RSI 14 will give a "BUY" signal, then RSI 7 will give entry point to LONG when the candle turns yellow.
+ Short (SELL) Signal:
- RSI 14 will give a "EXIT" signal, then RSI 7 will give entry point to SHORT when the candle turns purple.
+ About Take Profit and Stop Loss:
- With Gold, I usually set Stop Loss and Take Profit at 50 pips
- With currency pairs, I usually keep my Stop Loss and Take Profit at 30 pips
- With crypto, I usually keep Stop Loss and Take Profit at 1.5%
Recommended to use in time frame M15 and above .
This method can be used to trade Forex, Gold and Crypto.
My idea is formed on the view that when the price is moving strongly, the RSI 14 will tell us what the current trend is through a "BUY" or "EXIT" signal. When RSI 14 reaches the oversold area it will form a "BUY" signal and when it reaches the overbought area it will give an "EXIT" signal. I believe that when the price reaches the oversold or overbought area, the price momentum has also decreased and is about to reverse.
After receiving a signal from RSI 14, my job is to wait for an Entry signal from RSI 7. When RSI 7 reaches the overbought area, a yellow candle will appear and that's when we enter a LONG order. When the RSI 7 reaches the oversold area, a purple candle will appear and that's when we enter a SHORT order.
Joel on Crypto - MACD ScalpingJoel on Crypto - MACD Scalping
This is a Scalping indicator primarily intended for the 5 minute time frame.
It is based on the Crypto Scalping YouTuber Joel on Crypto's popular 5 minute scalping strategy and this is the indicator he personally use when Scalping.
This is a Multi-timeframe indicator where if you use it on the 5 minute time frame, the MACD Histogram bars will be based on the 1 minute timeframe.
The purpose of this indicator is not to trade it like a bot. The purpose is to grab the traders attention a time where there COULD be a scalping opportunity.
Use this indicator at your own risk.
Waddah Attar RSI Levels [Loxx]Waddah Attar RSI levels is an indicator created Ahmad Waddah Attar that draws a daily RSI over onto the current lower timeframe chart.
Wilders' RSI:
The Relative Strength Index ( RSI ) is a well versed momentum based oscillator which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements. Essentially RSI , when graphed, provides a visual mean to monitor both the current, as well as historical, strength and weakness of a particular market. The strength or weakness is based on closing prices over the duration of a specified trading period creating a reliable metric of price and momentum changes. Given the popularity of cash settled instruments (stock indexes) and leveraged financial products (the entire field of derivatives); RSI has proven to be a viable indicator of price movements.
Rapid RSI:
Rapid RSI Indicator, from Ian Copsey's article in the October 2006 issue of Stocks & Commodities magazine. RapidRSI resembles Wilder's RSI , but uses a SMA instead of a WilderMA for internal smoothing of price change accumulators.
Details
-Used for intraday trading, restricted to timeframes 1 hour and below
-Best Time Frames 15, 30, 60 minutes
Waddah Attar Hidden Levels [Loxx]Waddah Attar Hidden Levels is a dynamic indicator of support of resistance built by Ahmad Waddah Attar
Details
-Uses data from the Daily time frame only
-Used for intraday trading, restricted to timeframes 1 hour and below
-Best Time Frames 15, 30, 60 minutes
-Draws support and resistance lines on chart inside a boundary of fibonacci levels
How to use Waddah Attar Hidden Levels
-Breakout trading indicator
-Buy at the broken red line, or insert pending buy order
-Sell at the broken green line, or insert pending buy order
-Take profit/Stop-loss at blue lines
SP IndicatorSP Indicator - One of the best indicators for scalping trading on any timeframes. The best readings are given on 5, 15 and 30 minute frames.
For readings, several indicators are combined into one, which allows you to get a more accurate forecast, which is more than 90%.
Instruction.
The indicator is easy to use. Just install it and follow the arrows to go long or short. Stop loss set small, about 1-2%. In most cases, this is sufficient.
Good luck in bidding!
FaustFaust is a composite indicator that combines 3 volume indicators: TSV, OBV, and PVT.
TSV moving average is plotted as an oscillator. OBV and PVT are calculated internally.
Four divergences are calculated for each indicator (regular bearish, regular bullish, hidden bearish, and hidden bullish) with three look-back periods (high, mid, and small).
For TSV, the fattest plotted line is the divergence with the highest look-back period, and the thinnest line is the divergence with the shortest look-back period.
For PVT, the larger the circle, the higher the divergence look-back period.
For OBV, the larger the triangle, the higher the divergence look-back period.
Scalping The Bull IndicatorName: Scalping The Bull Indicator
Category: Scalping, Trend Following, Mean Reversion.
Timeframe: 1M, 5M, 30M, 1D depending on the specific technique.
Technical Analysis: The indicator supports the operations of the trader named "Scalping The Bull" which uses price action and exponential moving averages.
Suggested usage: Altcoin showing strong trends for scalping and intra-day trades. Trigger points are used as entry and exit points and to be used to understand when a signal has more power.
It is possible to identify the following conformations:
Shimano: look at the price records of a consecutive series of closings between the EMA 60 and the EMA 223 when a certain threshold is reached. Use the trigger points as price structures to identify entry and exit zones (e.g. breakout of the yesterday high as for entry point) .
Bomb: look at the price registers a percentage variation in a single candle, greater than a threshold such as 2%, in particular on shorter timeframes and around the trigger points.
Viagra: look at there is a consecutive series of closes below the EMA 10.
Downward fake: look when, after a cross under (Death Cross), the price returns above the EMA 223 using the yesterday high as a trigger point.
Emergence: look at the EMA 60 is about to cross over the EMA 223.
Anti-crossing: look at, after an important price rise and a subsequent retracement, the EMA 60 is about to cross under the EMA 223 but a bullish impulse brings the price back above the EMAs.
For Sales: look at two types of situations: 1) when the price falls by more than 10% from the opening price and around the yesterday’s low or 2) when the price falls and then reaches, in the last 5 days, a bigger percentage and then breaks a trigger point.
Colour change: look at the opening price of the session - indicated as a trigger point.
Third touch of EMA 60: look for 3 touches below the EMA 60, and enter when there is a close above the EMA 60.
Third touch of EMA 223: look for 3 touches when there are 3 touches below the EMA 223, and enter when there is a close above the EMA 60.
Bud: look at price when it crosses upwards the average 10 and subsequently at least 2 "rest" candles are between the maximum and minimum of the breaking candle.
Fake on EMA 10: look for the open of a candle higher than the EMA 10, the minimum of the candle lower and the closing price returns above the EMA 10..
For Stop Loss and Profit Targets consider a proper R/R depending on Risk Management, using price structures such as the low of the entering candle and a quick Position Management moving quickly the Stop-Loss at Break-Even.
Configuration:
Market
EMA: The indicator automatically configure itself on market it knows (Binance, Piazza Affari and NASDAQ) otherwise it can be configured manually fo Crypto market (5/10/60/223) or Stock Market (5/10/50/200).
Additional Average: You can display an additional average, e.g. 20-period average.
Chart elements:
Session Separators: indicates the beginning of the current session (in blue)
Background: signals with the background in green an uptrend situation ( 60 > 223) and in red background a downtrend situation (60 < 223).
Trigger points:
Today's highs and lows: draw on the chart the opening price of the daily candle and the highs and lows of the day (high in purple, low in red and open in green)
Yesterday's highs and lows: draw on the chart the opening price of the daily candle, the highs and lows of the previous day (high in yellow, low in red).
Credits
Massimo : for refactoring and suggestions.
SuperJump HTF SuperTrend for ScalpingThis script can help you perform scalping using SuperTrend
First, set the HTF value higher than your current time frame.
As you know, the accuracy of the supertrend is very poor on the lower timeframe.
So I used higher timeframe(15 mins) supertrend more than current chart(5 mins)
Scalping The BullNome: Scalping The Bull (Indicatore)
Categoria: Scalping, Trend Following, Mean Reversion.
Timeframe: 1M, 5M, 30M, 1D, secondo la conformazione specifica.
(follow description in english)
Analisi tecnica: l’indicatore supporta le operatività descritte nei video di YouTube del canale “Scalping The Bull”. Di norma si basa su price action e medie mobili esponenziali.
Le varie tecniche che possono essere usate insieme all’indicatore sono sintetizzate nei settaggi dell’indicatore e si può fare riferimento ai video specifici per la spiegazione completa.
Utilizzo consigliato: Altcoin che presentano forti trend per scalping e operazioni intra-day.
Configurazione: È possibile configurare lo strumento in maniera semplice e completa.
Medie:
Medie per mercato: e’ possibile utilizzare le medie mobili esponenziali (EMA) esclusivamente per il mercato Crypto (5/10/60/223).
Media addizionale: e’ possibile visualizzare una media aggiuntiva, e.g. a 20 periodi.
Elementi del grafico:
Sfondo: segnala con lo sfondo del grafico in verde una situazione di uptrend ( EMA 60 > EMA 223) e in rosso sfondo rosso una situazione di downtrend (EMA 60 < EMA 223).
Separatori di sessioni: indica l’inizio della sessione corrente.
Punti Trigger:
Massimi e minimi di oggi: disegna sul grafico il prezzo di apertura della candela daily e i massimi e i minimi di giornata.
Massimi minimi di ieri: disegna sul grafico il prezzo di apertura della candela daily, i massimi e i minimi del giorno prima.
(English description)
Name: Scalping The Bull (Indicator)
Category: Scalping, Trend Following, Mean Reversion.
Timeframe: 1M, 5M, 30M, 1D depending on the specific signal.
Technical Analysis: The indicator supports the operations described in the YouTube videos of the channel "Scalping The Bull". Usually it is based on price action and exponential moving averages.
The various techniques that can be used in conjunction with the indicator are summarized in the indicator settings and you can refer to the specific videos for the full explanation.
Suggested usage: Altcoin showing strong trends for scalping and intra-day trades.
Configuration:
Exponential Moving Averages
Per market: you can display averages exclusively for the Crypto market (5/10/60/223).
Additional Average: You can display an additional average, e.g. 20-period average.
Chart elements:
Session Separators: indicates the beginning of the current session.
Background: signals with the background in green an uptrend situation ( 60 > 223) and in red background a downtrend situation (60 < 223).
Trigger points:
Today's highs and lows: draw on the chart the opening price of the daily candle and the highs and lows of the day.
Yesterday's highs and lows: draw on the chart the opening price of the daily candle, the highs and lows of the previous day.
RSI Wave SignalsQuick Description: Smoothed RSI with optimized trailing moving average. Look for cross above or cross under signals for buy and sell orders respectively.
VIDYA moving average of RSI incorporated with "optimized trend tracker" system. Thanks to kivancozbilgic and anilozeksi for implementing this great idea on Tradingview. The indicator adds "1,000" to the RSI MA values for more natural and accurate percentage trailing.
Settings:
- Period MA is the moving average length of the blue line
- Trailing Percentage of MA adjusts the percentage (sort of) trailing level of the moving average.
- RSI Length adjusts the rsi length in calculation.
Trading Tips:
- System might be enhanced by taking signals only on "oversold" or "overbought" territories (i.e <~1020 or >~1080)
- Adjust position size of by 4 times of atr(length=14)
- Take 50% of position as profit when position reaches the 4*atr TP Level (breakeven)
- Let the rest ride.
- Best performing on short frequencies such as 1, 3, 5 mins.
Wick/ Long / Short Monitor- Wanted to check if price movement on a particular candle for day trading is less than my target movement.
- A user can place this on chart and on the candles where the price movement is not as predicted from the open price, a red * will be placed above or below the bar
- it is best used in fixed profit scalping strategy
crypto futures hourly scalping with ma & rsi - ogcheckershi to all lovable traders,
hereby i want to share a combination of trade ideas for scalping
i've chosen hourly timeframe
indicators used: moving averages and rsi
moving averages:
ema 3, ema 5, ema 7
sma 3, sma 5, sma 7
daily_ema_3, daily_ema_5
daily_ema_5, daily_sma_5
rsi:
rsi 7, rsi 14, rsi 26
daily_rsi_7, daily_rsi_14, daily_rsi_26
as per the analysis over moving average behavioral patterns & rsi movements, useful points are given below which will be helpful while choosing good entry points & exit points,
strategical points for LONG:
* when ema3 crosses above sma3 - green candles start to form
* it's followed by ema5 > sma5 and ema7 > sma7
* when ema3 crosses down sma3 - it's considered as an indication of exit
* if rsi supports then can wait for ema5 crossing down sma5
* as similar, when daily_ema_3 crosses above daily_sma_3, its an higher timeframe bullish indication, so the lower timeframe entries inside this higher timeframe is a sure shot confident entry
* for LONG always take entries when rsi_14 < 30 or 25 else check rsi_7 < 25 or below
* as along the above, bullish CANDLE patterns like bullish engulfing , morning star is been used for entry at lower levels
* so here i've used OPEN as rsi_source in majority
* exit points also indicated at high_rsi and moving average crossunders or reverse crossovers
* for SHORTING, the above said ideas can be used in viceversa
* inputs in the indicator were tailored for users needs so that you will enjoy the magics of customization
if i am wrong in anyways regarding the above indicator strategy, please forgive me and help me improve in this aspect by commenting.
after few more studies and analysis and mainly QUERIES & COMMENTS, i'm planning to backtest these strategies here in tradingview.
also if these strategies are coded in python, we can link it to Binance Futures Algo or Bot Trading.
thankyou for this opportunity,
thanks to tradingview and pinecoders
thanks to Pranab (for 365MA)
thanks to Gandalf (for inspiring)
Special Thanks & Love to Chartbank for Everything
VIX Reversal Scalper by Trend Friend - Stocks OnlyVIX REVERSAL SCALPER BY TREND FRIEND - STOCKS ONLY
This indicator is built for scalping, but can be used for swing trades by adjusting the signal settings to a higher number.
This indicator is meant for stocks with a lot of price action and volatility, so for best results, use it on charts that move similar to the S&P 500 or other similar charts.
This indicator uses real time data from the stock market overall, so it should only be used on stocks and will only give a few signals during after hours. It does work ok for crypto, but will not give signals when the US stock market is closed.
**HOW TO USE**
When the VIX Volatility Index trend changes direction, it will give a bull or bear signal on the chart depending on which way the VIX is now trending. Follow these when price is near support/resistance or fibonacci levels.
For more signals with earlier entries, go into settings and reduce the number. 10-100 is best for scalping. For less signals with later entries, change the number to a higher value. Use 100-500 for swing trades. Can go higher for long swing trades.
***MARKETS***
This indicator should only be used on the US stock markets as signals are given based on the VIX volatility index which measures volatility of the US Stock Markets.
***TIMEFRAMES***
This indicator works on all time frames.
**NOTE**
Repainting does happen but it is seldom. If I get enough requests to remove repainting I will, but since it is built for early entries, preventing it from repainting will make the signals show up later than normal.
Due to various factors, this indicator might not give exit signals every time it should, so be sure to watch the price action for entries/exits and don't rely solely on this indicator.
**INVERSE CHARTS**
If you are using this on an inverse ETF and the signals are showing backwards, please comment with what chart it is and I will configure the indicator to give the correct signals. I have included over 50 inverse ETFs into the code to show the correct signals on inverse charts, but I'm sure there are some that I have missed so feel free to let me know and I will update the script with the requested tickers.
***TIPS***
Try using numerous indicators of ours on your chart so you can instantly see the bullish or bearish trend of multiple indicators in real time without having to analyze the data. Some of our favorites are our Auto Fibonacci, Directional Movement Index, Volume Profile, Auto Support And Resistance and Money Flow Index in combination with this Vix Reversal Scalper. They all have real time Bullish and Bearish labels as well so you can immediately understand each indicator's trend.
