Rolling Straddle with swing High/Low [Bluechip Algos]The Rolling Straddle and Strangle indicator is designed for options traders, particularly those trading in Indian indices such as NIFTY, BANKNIFTY, and others. This script not only allows users to analyze rolling straddle and strangle strategies by plotting various metrics but also has several indicators to apply on top of straddle/strangle charts. Especially indicators like swing high/low and ATR stop loss help you identify potential entry and exit points respectively.
About the Indicator
This indicator plots rolling straddles and strangles based on the selected symbol, strike prices, and expiry dates. Users can choose between analyzing single or multiple charts, and the script dynamically adjusts for different symbols, including NIFTY, BANKNIFTY, and other indices. Additionally, it incorporates several popular technical indicators to assist in decision-making.
Features
Dynamic Strike Price Calculation: Automatically adjusts strike prices based on the selected symbol and ATM (At-The-Money) reference.
Straddle and Strangle Analysis: Offers both rolling straddle and rolling strangle options, providing detailed views of option prices.
Table Plotting: Displays a table with the strike prices and corresponding CE (Call) and PE (Put) prices, including combined values.
Integrated Indicators: Includes customizable indicators such as Swing High/Low levels, ATR Stop Loss, Moving Averages, SuperTrend, and VWAP each designed to enhance strategy analysis.
Understanding the Indicator
1. Swing High/Low Levels
Purpose: This indicator identifies swing highs and lows in the price data, which are key levels that traders often use for placing stop-loss orders or for identifying potential reversal points.
Parameters:
Swing Length: The number of bars before and after the current bar that must be lower/higher to confirm a swing high/low.
How It Works: The indicator marks the highest high and lowest low over the specified period, helping traders to identify key support and resistance levels.
2. ATR Stop Loss
Purpose: The ATR Stop Loss is used to determine a dynamic stop-loss level based on the volatility of the asset. It adjusts the stop-loss level as the market conditions change.
Parameters:
ATR Period: The number of periods over which the ATR is calculated.
Multiplier: Factor used to adjust the stop-loss distance from the current price.
How It Works: The stop-loss level is adjusted dynamically based on the ATR value, providing protection against large, unexpected moves.
3. Moving Average (MA)
Purpose: The Moving Average is used to smooth out price data, providing a clearer view of the price trend over time. It is particularly useful for identifying the direction of the trend.
Parameters:
MA Source: The data series used for calculating the Moving Average (e.g., Close price).
MA Length: The number of periods over which the Moving Average is calculated.
MA Smoothing: The method used for smoothing the data, such as SMA (Simple Moving Average), EMA (Exponential Moving Average), WMA (Weighted Moving Average), or RMA (Running Moving Average).
4. SuperTrend
Purpose: The SuperTrend indicator is a trend-following indicator that helps traders identify the prevailing trend. It is based on the ATR (Average True Range) and provides clear buy/sell signals.
Parameters:
Factor: Multiplier applied to the ATR to calculate the upper and lower bands.
ATR Period: The period over which the ATR is calculated.
How It Works: When the price is above the SuperTrend line, it indicates a bullish trend, and when the price is below, it indicates a bearish trend.
5. VWAP (Volume Weighted Average Price)
Purpose: VWAP is a trading benchmark used by traders that gives the average price a security has traded at throughout the day, based on both volume and price. It is often used to determine the general direction of the market and as a basis for intraday trading strategies.
How It Works: VWAP calculates the cumulative price-volume divided by the cumulative volume over a specified period, providing a weighted average price that is more reflective of true market activity.
Input Parameters
Chart Type: Select between "Rolling Straddle" and "Rolling Strangle."
Symbol Selection: Choose from NIFTY, BANKNIFTY, MIDCAP, FINNIFTY, SENSEX, BANKEX, or a custom symbol.
Strike Interval: Customize strike intervals for different indices.
Expiry Date: Select the option expiry date.
Table Settings: Configure the table's position and colors for better visibility.
Indicator Settings: Customize each indicator’s parameters to suit your trading strategy, including lengths, smoothing methods, and colors.
Tìm kiếm tập lệnh với "vwap"
TrendScope:TrendScope Indicator Description with First-Time User Tutorial
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Overview:
The TrendScope indicator is designed to give traders a comprehensive view of the market by combining multiple filter sets that analyze different aspects of price action. The filter sets allow you to switch between different views effortlessly and avoid indicator clutter. Whether you're scalping, swing trading, or identifying breakout opportunities, TrendScope helps you make informed decisions by assessing momentum, volatility, trade timing, and trend direction. It also includes a scalp setup you can use to execute trades and manage risk.
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TrendScope Filter Sets with First-Time User Setup & Tutorial
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Filter Set A: Short-Term Momentum
Goal:
This filter focuses on the immediate market sentiment without any additional indicators. It reveals where retail traders might enter the market, potentially highlighting areas where they could be stopped out. The goal is to identify these weak spots and anticipate likely price movements that could follow.
No Additional Indicators Required:
This filter set uses moving averages (SMA 20, SMA 50, SMA 100) to determine the short-term trend.
Tutorial:
- To Confirm an Uptrend: Ensure all moving averages are aligned in sequence: SMA 20 above SMA 50, and SMA 50 above SMA 100, all trending upwards.
Action: Consider going long using the scalper in Filter Set D.
- To Confirm a Downtrend: Ensure all moving averages are aligned in sequence: SMA 20 below SMA 50, and SMA 50 below SMA 100, all trending downwards.
Action: Consider going short using the scalper in Filter Set D.
- To Confirm Consolidation: If the moving averages are not aligned or are intertwined, the market is either about to or already trending sideways. The market is in a consolidation phase.
Action: Switch to Filter Set C for further analysis.
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Filter Set B: Long-Term Momentum
Goal:
Similar to the short-term filter, but with a broader perspective. It helps in understanding the bigger picture, providing insights into longer-term trends and potential reversals for swing trade entries.
No Additional Indicators Required:
This filter set uses moving averages (SMA 20, SMA 100, SMA 200) to determine the long-term trend.
Tutorial:
- To Confirm an Uptrend: Ensure all moving averages are aligned in sequence: SMA 20 above SMA 100, and SMA 100 above SMA 200, all trending upwards.
Action: Consider going long using the scalper in Filter Set D.
- To Confirm a Downtrend: Ensure all moving averages are aligned in sequence: SMA 20 below SMA 100, and SMA 100 below SMA 200, all trending downwards.
Action: Consider going short using the scalper in Filter Set D.
- To Confirm Consolidation: If the moving averages are not aligned or are intertwined, the market is either about to or already trending sideways. The market is in a consolidation phase.
Action: Switch to Filter Set C for further analysis.
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Filter Set C: Trading Range
This filter uses Bollinger Bands, Volume, and Volume-Weighted Relative Volume Profile (VRVP) to identify trading ranges and predict breakouts and trade timing. In short, when Bollinger Bands contract and volume is below average, the VRVP highlights low-volume areas that can serve as breakout targets, offering a timing edge.
Goal:
Anticipate breakouts in a sideways market.
Additional Indicators Required:
- VRVP: For visualizing volume at specific price levels.
- Volume Indicator: With a 100-period moving average for anticipating low market participation.
Tutorial:
1. Setup Screen: Zoom out to see the entire consolidation phase.
2. Identify Support & Resistance:
- Use VRVP to determine VAH (upper range) and VAL (lower range) support or resistance levels.
- Identify the POC (Point of Control) as the area with the highest support or resistance.
3. Wait for Setup:
- Wait for Bollinger Bands to contract and volume to dip below the average.
- Go short if the price is at VAH, go long if the price is at VAL.
4. Action: Switch to Filter Set D for precise entry, target, and risk management.
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Filter Set D: Scalper
After determining the market condition using the previous filter sets, you can use this filter set to hunt for trades. Designed for use with Heikin Ashi candles, this filter allows you to enter when there’s high momentum and provides a trailing stop along the way.
Goal:
Execute trades in harmony with the established trend.
Setup Rules:
1. Condition 1: You know the current trend direction as per filter set guidance (A, B, & C), and the trend is up, and you are going long.
2. Condition 2: Wait for the price to close 3 consecutive flat-bottom Heikin Ashi candles above the 7 MA. Then Enter on the open of the fourth Candle.
3. Condition 3: The 3x candles have to be above the 7 MA (red line), and the 7 MA has to be above the 50 EMA (yellow line).
Trade Management:
Use the 50 EMA (Yellow Line) as a trailing stop and hold the position until a candle opens and closes below the 7 SMA (Red Line).
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Additional Filter Sets
These filter sets are designed to accommodate various trading strategies, allowing for flexibility depending on the trader's approach.
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Filter Set E: VWAP
When using the VWAP filter, load the On-Balance Volume (OBV) indicator to complement your analysis. This combination can help confirm volume trends and potential price movements.
Tips:
Look for instances where the VWAP aligns with OBV divergences to confirm or negate potential trade setups.
Tutorial:
- Complement with OBV: Look for volume confirmations.
- Usage: Switch the candles to a line chart. Wait for both the line to close above the VWAP and OBV above the Smoothing Line. Then, switch to Filter Set D and hunt for a long entry as per the strategy. Do the opposite for hunting short entries.
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Filter Set F: Super Trend
This filter is most effective when paired with the Ichimoku Cloud (using custom settings) along with the MACD and ADX indicators.
Goal:
Gauge trend strength, momentum, and support and resistance levels.
Tutorial:
- Load Ichimoku, MACD, and ADX: To gauge trend strength and momentum.
- Usage Tips:
I use the cloud to look for long periods where the clouds print horizontal levels and use them for support and resistance levels. Alternatively, use the ADX. When the price breaks up through the super trend downtrend line and retraces back to the top of the Ichimoku cloud, switch to Filter Set D and hunt for a long scalp entry. For a short entry, wait for the price to break through the Up Trend Line and retrace back up to the cloud. Then, switch to Filter Set D and use the setup to hunt for a short.
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Filter Set G: Keltner Channels
Combine this filter with Donchian Channels and the Average True Range (ATR) for enhanced volatility analysis. This filter set works similarly to Filter Set C.
Goal:
Measure volatility and predict breakouts.
Tutorial:
- Load Donchian Channels or ATR: To measure volatility and breakouts.
- Usage Tips:
Look for the price to fall through the Keltner lower line and the ATR making a higher low. Then, use the scalper for entries, with Donchian boundaries as take-profit estimates.
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Filter Set H: Pivot Points
This filter works with the RSI to spot divergences that could signal a trend change or reversal.
Goal:
Identify divergences and trend reversals.
Tutorial:
- Load RSI: For identifying divergences.
- Usage Tips:
Use RSI in conjunction with pivot points to identify divergences. Then, switch to Filter Set D and use the scalper to hunt for swing entries in the divergence direction.
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Filter Set I: Opening Range Breakout
This filter uses the Seasonality indicator to gauge investor sentiment and prediction sentiment.
Goal:
Assess market sentiment and predict breakout directions.
Tutorial:
- Load Seasonality Indicator: To assess market sentiment.
- Usage Tips:
Use seasonal trends to gauge potential breakout directions. Use on the daily timeframe only. Risk on investment zones are when the price is close to the ORB low level. Realize investment profit when the price is nearing the ORB high level, considering that there has to be divergence as determined using Filter Set H.
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By following this structured approach, traders can learn to navigate different market conditions, using TrendScope to make informed decisions based on a comprehensive analysis of momentum, trend, and volatility. The goal is to go through all the filter sets and combine them with the scalp setup in Filter Set D, using the additional filters to adapt to various strategies and market conditions.
TS & AO This is Best Intraday and Swing Trading Indicator
Certainly! Let’s explore some intraday and swing trading indicators that can help traders make informed decisions
SuperTrend:
The Supertrend indicator is commonly used for intraday trading.
It is plotted on the price chart and helps determine the current trend.
Parameters: It uses the Average True Range (ATR) with default values of 10 for the period and 3 for the multiplier.
Interpretation:
Upward trend: When Supertrend is below the bars and changes color to green, it indicates a buy signal.
Downward trend: When Supertrend is above the bars and turns red, it signals a sell opportunity1.
VWAP (Volume Weighted Average Price):
VWAP is a volume-based indicator.
It compares the value of a stock traded at a specific time to the total volume traded for that stock.
Interpretation:
Bullish trend: When the stock price is above VWAP, it suggests an uptrend.
Traders can consider buying on retracements toward VWAP in the direction of the trend1.
Moving Averages (MAs):
MAs are versatile indicators suitable for intraday, swing, and longer-term trading.
Common MAs include:
9-day MA: Short-term trend indicator.
50-day MA: Intermediate trend indicator.
100-day MA: Longer-term trend indicator.
Interpretation:
Uptrend: When the stock price is above the MA, it signals a bullish trend.
Downtrend: When the price is below the MA, it suggests a bearish trend2.
ATR Bands (Keltner Channel), Wick and SRSI Signals [MW]Introduction
This indicator uses a novel combination of ATR Bands, candle wicks crossing the ATR upper and lower bands, and baseline, and combines them with the Stochastic SRSI oscillator to provide early BUY and SELL signals in uptrends, downtrends, and in ranging price conditions.
How it’s unique
People generally understand Bollinger Bands and Keltner Channels. Buy at the bottom band, sell at the top band. However, because the bands themselves are not static, impulsive moves can render them useless. People also generally understand wicks. Candles with large wicks can represent a change in pattern, or volatile price movement. Combining those two to determine if price is reaching a pivot point is relatively novel. When Stochastic RSI (SRSI) filtering is also added, it becomes a genuinely unique combination that can be used to determine trade entries and exits.
What’s the benefit
The benefit of the indicator is that it can help potentially identify pivots WHEN THEY HAPPEN, and with potentially minimal retracement, depending on the trader’s time window. Many indicators wait for a trend to be established, or wait for a breakout to occur, or have to wait for some form of confirmation. In the interpretation used by this indicator, bands, wicks, and SRSI cycles provide both the signal and confirmation.
It takes into account 3 elements:
Price approaching the upper or lower band or the baseline - MEANING: Price is becoming extended based on calculations that use the candle trading range.
A candle wick of a defined proportion (e.g. wick is 1/2 the size of a full candle OR candle body) crosses a band or baseline, but the body does not cross the band or baseline - MEANING: Buyers and sellers are both very active.
The Stochastic RSI reading is above 80 for SELL signals and below 20 for BUY signals - MEANING: Additional confirmation that price is becoming extended based on the current cyclic price pattern.
How to Use
SIGNALS
Buy Signals - Green(ish):
B Signal - Potential pivot up from the lower band when using the preferred multiplier
B1 Signal - Potential pivot up from the lower band when using phi * multiplier
B2 Signal - Potential pivot up from the lower band when using 1/2 * multiplier
B3 Signal - Potential pivot up from baseline
Sell Signals - Red(ish):
S Signal - Potential pivot down from the upper band when using the preferred multiplier
S1 Signal - Potential pivot down from the upper band when using
S2 Signal - Potential pivot down from the upper band when using 1/2 * multiplier
S3 Signal - Potential pivot down from the baseline
DISCUSSION
During an uptrend or downtrend, signals from the baseline can help traders identify areas where they may enter the trending move with the least amount of drawdown. In both cases, entry points can occur with baseline signals in the direction of the trend.
For example, in an uptrend (when the price is forming higher highs and higher lows, or when the baseline is rising), price tends to oscillate between the upper band and baseline. In this case, the baseline BUY signal (B3) can show an entry point.
In a downtrend (when the price is forming lower highs and lower lows, or when the baseline is falling), price tends to oscillate between the baseline and the lower band. In this case, the baseline SELL signal (S3) can show an entry point.
During consolidation, when price is ranging, price tends to oscillate between the upper and lower bands, while crossing through the baseline unperturbed. Here, entry points can occur at the upper and lower bands.
When all conditions are met at the lower band during consolidation, a BUY signal (B), can occur. This signal may also occur prior to a break out of consolidation to the upside.
When all conditions are met at the upper band during consolidation, a SELL signal (S), can occur. This signal may also occur prior to a break out of consolidation to the downside.
Additional B1, B2, and S1, and S2 signals can be displayed that use the bands based on a multiplier that is half that of the primary one, and phi (0.618) times the primary multiplier as a way to quickly check for signals occurring along different, but related, bands.
Calculations
ATR Bands, or Keltner Channels, are a technical analysis tool that are used to measure market volatility and identify overbought or oversold conditions in the trading of financial instruments, such as stocks, bonds, commodities, and currencies. ATR Bands consist of three lines plotted on a price chart:
Middle Band, Basis, or Baseline: This is typically a simple moving average (SMA) of the closing prices over a certain period. It represents the intermediate-term trend of the asset's price.
Upper Band: This is calculated by adding a certain number of ATRs to the middle band (SMA). The upper band adjusts itself with the increase in volatility.
Lower Band: This is calculated by subtracting the same number of ATRs from the middle band (SMA). Like the upper band, the lower band adjusts to changes in volatility.
The candle wick signals occur if the wick is at the specified ratio compared to either the entire candle or the candle body. The upper band, lower band, and baseline signals happen if the wick is the specified ratio of the total candle size. For the major signals for upper and lower bands, these occur when the wick extends outside of the bands while closing a candle inside of the bands. For the baseline signals, they occur if a wick crosses a baseline but closes on the other side.
Settings
CHANNEL SETTINGS
Baseline EMA Period (Default: 21): Period length of the moving average basis line.
ATR Period (Default: 21): The number of periods over which the Average True Range (ATR) is calculated.
Basis MA Type (Default: SMA): The moving average type for the basis line.
Multiplier (Default: 2.5: The deviation multiplier used to calculate the band distance from the basis line.
ADDITIONAL CHANNELS
Half of Multiplier Offset (Default: True): Toggles the display of the ATR bands that are set a distance of half of the ATR multiplier.
Quarter of Multiplier Offset (Default: false): Toggles the display of the ATR bands that are set a distance of one quarter of the ATR multiplier.
Phi (Φ) Offset (Default: false): Toggles the display of the ATR bands that are set a distance of phi (Φ) times the ATR multiplier.
WICK SETTINGS FOR CANDLE FILTERS
Wick Ratio for Bands (Default: 0.4): The ratio of wick size to total candle size for use at upper and lower bands.
Wick Ratio for Baseline (Default: 0.4): The ratio of wick size to total candle size for use at baseline.
Use Candle Body (rather than full candle size) (Default: false): Determines whether wick calculations use the candle body or the entire candle size.
VISUAL PREFERENCES - SIGNALS
Show Signals (Default: true): Allows signal labels to be shown.
Show Signals from 1/2 Band Offset (Default: false): Toggle signals originating from 1/2 offset upper and lower bands.
Show Signals from Phi (Φ) Band Offset (Default: false): Toggle signals originating from phi (Φ) offset upper and lower bands.
Show Baseline Signals (Default: false): Toggle Baseline signals.
VISUAL PREFERENCES - BANDS
Show ATR (Keltner) Bands (Default: true): Use a background color inside the Bollinger Bands.
Fill Bands (Default: true): Use a background color inside the Bollinger Bands.
STOCHASTIC SETTINGS
Use Stochastic RSI Filtering (Default: False): This will only trigger some SELL signals when the stochastic RSI is above 80, and BUY signals when below 20.
K (Default: 3): The smoothing level for the Stochastic RSI.
RSI Length (Default: 14): The period length for the RSI calculation.
Stochastic Length (Default: 8): The period length over which the stochastic calculation is performed.
Other Usage Notes and Limitations
To understand future price movement, this indicator assumes that 3 things must be known:
Evidence of a change of market structure. This can be demonstrated by increased volatility, consolidation, volume spikes (which can be tracked with the MW Volume Impulse Indicator) or, in the case of this indicator, candle wicks.
The potential cause of the change. It could be a VWAP line (which can be tracked with the Multi VWAP , and Multi VWAP from Gaps indicators), an event, an important support or resistance level, a key moving average, or many other things. This indicator assumes the ATR bands can be a cause.
The current position in the price cycle. Oscillators like the RSI, and MACD, are typical measures of price oscillation (other oscillators like the Price and Volume Stochastic Divergence indicator can also be useful). This indicator uses the Stochastic RSI oscillator to determine overbought and oversold conditions.
When evidence of the change appears, and the potential cause of the change is identified, and the price oscillation is at a favorable position for the desired trading direction, this indicator will generate a signal.
ATR Bands (or Keltner Channels) are used to determine when price might “revert to the mean”. Crossing, or being near the upper or lower band, can indicate an overbought or oversold condition, which could lead to a price reversal. By tracking the behavior of candle wicks during these events, we can see how active the battle is between buyers and sellers.
If the top of a wick is large, it may indicate that sellers are aggressively attempting to bring the price down. Conversely, if the bottom wick is large, it can indicate that buyers are actively trying to counter the price action caused by selling pressure.
When this wicking action occurs at times when price is not near the upper band, lower band, or baseline, it could indicate the presence of an important level. That could mean a nearby VWAP line, a supply or demand zone, a round price number, or a number of other factors. In any case, this wick may be the first indication of a price reversal.
Shorter baseline periods may be better for short period trading like scalping or day trading, while longer period baselines can show signals that are better suited to swing trading, or longer term investing.
It's important for traders to be aware of the limitations of any indicator and to use them as part of a broader, well-rounded trading strategy that includes risk management, fundamental analysis, and other tools that can help with reducing false signals, determining trend direction, and providing additional confirmation for a trade decision. Diversifying strategies and not relying solely on one type of indicator or analysis can help mitigate some of these risks.
The TradingView platform allows a maximum of 500 labels per chart. This means that if your settings allow for a lot of signals, labels for earlier ones may not appear if the total number of labels exceeds 500 for the chart.
Bollinger Band Wick and SRSI Signals [MW]Introduction
This indicator uses a novel combination of Bollinger Bands, candle wicks crossing the upper and lower Bollinger Bands and baseline, and combines them with the Stochastic SRSI oscillator to provide early BUY and SELL signals in uptrends, downtrends, and in ranging price conditions.
How it’s unique
People generally understand Bollinger Bands and Keltner Channels. Buy at the bottom band, sell at the top band. However, because the bands themselves are not static, impulsive moves can render them useless. People also generally understand wicks. Candles with large wicks can represent a change in pattern, or volatile price movement. Combining those two to determine if price is reaching a pivot point is relatively novel. When Stochastic RSI (SRSI) filtering is also added, it becomes a genuinely unique combination that can be used to determine trade entries and exits.
What’s the benefit
The benefit of the indicator is that it can help potentially identify pivots WHEN THEY HAPPEN, and with potentially minimal retracement, depending on the trader’s time window. Many indicators wait for a trend to be established, or wait for a breakout to occur, or have to wait for some form of confirmation. In the interpretation used by this indicator, bands, wicks, and SRSI cycles provide both the signal and confirmation.
It takes into account 3 elements:
Price approaching the upper or lower band or the baseline - MEANING: Price is becoming extended based on calculations that use the candle trading range.
A candle wick of a defined proportion (e.g. wick is 1/2 the size of a full candle OR candle body) crosses a band or baseline, but the body does not cross the band or baseline - MEANING: Buyers and sellers are both very active.
The Stochastic RSI reading is above 80 for SELL signals and below 20 for BUY signals - MEANING: Additional confirmation that price is becoming extended based on the current cyclic price pattern.
How to Use
SIGNALS
Buy Signals - Green(ish):
B Signal - Potential pivot up from the lower band when using the preferred multiplier
B1 Signal - Potential pivot up from baseline
Sell Signals - Red(ish):
S Signal - Potential pivot down from the upper band when using the preferred multiplier
S1 Signal - Potential pivot down from the baseline
DISCUSSION
During an uptrend or downtrend, signals from the baseline can help traders identify areas where they may enter the trending move with the least amount of drawdown. In both cases, entry points can occur with baseline signals in the direction of the trend.
For example, in an uptrend (when the price is forming higher highs and higher lows, or when the baseline is rising), price tends to oscillate between the upper band and baseline. In this case, the baseline BUY signal (B3) can show an entry point.
In a downtrend (when the price is forming lower highs and lower lows, or when the baseline is falling), price tends to oscillate between the baseline and the lower band. In this case, the baseline SELL signal (S3) can show an entry point.
During consolidation, when price is ranging, price tends to oscillate between the upper and lower bands, while crossing through the baseline unperturbed. Here, entry points can occur at the upper and lower bands.
When all conditions are met at the lower band during consolidation, a BUY signal (B), can occur. This signal may also occur prior to a break out of consolidation to the upside.
When all conditions are met at the upper band during consolidation, a SELL signal (S), can occur. This signal may also occur prior to a break out of consolidation to the downside.
Additional, B1 and S1 signals can be displayed that use the baseline as the pivot level.
Settings
SIGNALS
Show Bollinger Band Signals (Default: True): Allows signal labels to be shown.
Hide Baseline Signals (Default: False): Baseline signals are on by default. This will turn them off.
Show Wick Signals (Defau
lt: True): Displays signals when wicking occurs.
BOLLINGER BAND SETTINGS
Period length for Bollinger Band Basis (Default: 21): Length of the Bollinger Band (BB) moving average basis line.
Basis MA Type (Default: SMA): The moving average type for the BB Basis line.
Source (Default: “close”): The source of time series data.
Standard Deviation Multiplier (Default: 2.5: The deviation multiplier used to calculate the band distance from the basis line.
WICK SETTINGS FOR BOLLINGER BANDS
Wick Ratio for Bands (Default: 0.3): The ratio of wick size to total candle size for use at upper and lower bands.
Wick Ratio for Baseline (Default: 0.3): The ratio of wick size to total candle size for use at baseline.
WICK SETTINGS FOR CANDLE SIGNALS
Upper Wick Threshold (Default: 50): The percent of upper wick compared to the full candle size or candle body size.
Lower Wick Threshold (Default: 50): The percent of lower wick compared to the full candle size or candle body size.
Use Candle Body (Default: false): Toggles the use of the full candle size versus the candle body size when calculating the wick signal.
VISUAL PREFERENCES
Fill Bands (Default: true): Use a background color inside the Bollinger Bands.
Show Signals (Default: true): Toggle the Bollinger Band upper band, lower band, and baseline signals.
Show Bollinger Bands (Default: true): Show the Bollinger Bands.
STOCHASTIC SETTINGS
Use Stochastic RSI Filtering (Default: False): This will only trigger some SELL signals when the stochastic RSI is above 80, and BUY signals when below 20.
K (Default: 3): The smoothing level for the Stochastic RSI.
RSI Length (Default: 14): The period length for the RSI calculation.
Stochastic Length (Default: 8): The period length over which the stochastic calculation is performed.
Calculations
Bollinger Bands are a technical analysis tool that are used to measure market volatility and identify overbought or oversold conditions in the trading of financial instruments, such as stocks, bonds, commodities, and currencies. Bollinger Bands consist of three lines plotted on a price chart:
Middle Band, Basis, or Baseline: This is typically a simple moving average (SMA) of the closing prices over a certain period. It represents the intermediate-term trend of the asset's price.
Upper Band: This is calculated by adding a certain number of standard deviations to the middle band (SMA). The upper band adjusts itself with the increase in volatility.
Lower Band: This is calculated by subtracting the same number of standard deviations from the middle band (SMA). Like the upper band, the lower band adjusts to changes in volatility.
The candle wick signals occur if the wick is at the specified ratio compared to either the entire candle or the candle body. The upper band, lower band, and baseline signals happen if the wick is the specified ratio of the total candle size. For the major signals for upper and lower bands, these occur when the wick extends outside of the bands while closing a candle inside of the bands. For the baseline signals, they occur if a wick crosses a baseline but closes on the other side.
Other Usage Notes and Limitations
To understand future price movement, this indicator assumes that 3 things must be known:
Evidence of a change of market structure. This can be demonstrated by increased volatility, consolidation, volume spikes (which can be tracked with the MW Volume Impulse Indicator) or, in the case of this indicator, candle wicks.
The potential cause of the change. It could be a VWAP line (which can be tracked with the Multi VWAP , and Multi VWAP from Gaps indicators), an event, an important support or resistance level, a key moving average, or many other things. This indicator assumes the ATR bands can be a cause.
The current position in the price cycle. Oscillators like the RSI, and MACD, are typical measures of price oscillation (other oscillators like the Price and Volume Stochastic Divergence indicator can also be useful). This indicator uses the Stochastic RSI oscillator to determine overbought and oversold conditions.
When evidence of the change appears, and the potential cause of the change is identified, and the price oscillation is at a favorable position for the desired trading direction, this indicator will generate a signal.
ATR Bands (or Keltner Channels) are used to determine when price might “revert to the mean”. Crossing, or being near the upper or lower band, can indicate an overbought or oversold condition, which could lead to a price reversal. By tracking the behavior of candle wicks during these events, we can see how active the battle is between buyers and sellers.
If the top of a wick is large, it may indicate that sellers are aggressively attempting to bring the price down. Conversely, if the bottom wick is large, it can indicate that buyers are actively trying to counter the price action caused by selling pressure.
When this wicking action occurs at times when price is not near the upper band, lower band, or baseline, it could indicate the presence of an important level. That could mean a nearby VWAP line, a supply or demand zone, a round price number, or a number of other factors. In any case, this wick may be the first indication of a price reversal.
Shorter baseline periods may be better for short period trading like scalping or day trading, while longer period baselines can show signals that are better suited to swing trading, or longer term investing.
It's important for traders to be aware of the limitations of any indicator and to use them as part of a broader, well-rounded trading strategy that includes risk management, fundamental analysis, and other tools that can help with reducing false signals, determining trend direction, and providing additional confirmation for a trade decision. Diversifying strategies and not relying solely on one type of indicator or analysis can help mitigate some of these risks.
The TradingView platform allows a maximum of 500 labels per chart. This means that if your settings allow for a lot of signals, labels for earlier ones may not appear if the total number of labels exceeds 500 for the chart.
Nifty 50 5mint Strategy
The script defines a specific trading session based on user inputs. This session is specified by a time range (e.g., "1000-1510") and selected days of the week (e.g., Monday to Friday). This session definition is crucial for trading only during specific times.
Lookback and Breakout Conditions:
The script uses a lookback period and the highest high and lowest low values to determine potential breakout points. The lookback period is user-defined (default is 10 periods).
The script also uses Bollinger Bands (BB) to identify potential breakout conditions. Users can enable or disable BB crossover conditions. BB consists of an upper and lower band, with the basis.
Additionally, the script uses Dema (Double Exponential Moving Average) and VWAP (Volume Weighted Average Price) . Users can enable or disable this condition.
Buy and Sell Conditions:
Buy conditions are met when the close price exceeds the highest high within the specified lookback period, Bollinger Bands conditions are satisfied, Dema-VWAP conditions are met, and the script is within the defined trading session.
Sell conditions are met when the close price falls below the lowest low within the lookback period, Bollinger Bands conditions are satisfied, Dema-VWAP conditions are met, and the script is within the defined trading session.
When either condition is met, it triggers a "long" or "short" position entry.
Trailing Stop Loss (TSL):
Users can choose between fixed points ( SL by points ) or trailing stop (Profit Trail).
For fixed points, users specify the number of points for the stop loss. A fixed stop loss is set at a certain distance from the entry price if a position is opened.
For Profit Trail, users can enable or disable this feature. If enabled, the script uses a "trail factor" (lookback period) to determine when to adjust the stop loss.
If the price moves in the direction of the trade and reaches a certain level (determined by the trail factor), the stop loss is adjusted, trailing behind the price to lock in profits.
If the close price falls below a certain level (lowest low within the trail factor(lookback)), and a position is open, the "long" position is closed (strategy.close("long")).
If the close price exceeds a certain level (highest high within the specified trail factor(lookback)), and a position is open, the "short" position is closed (strategy.close("short")).
Positions are also closed if they are open outside of the defined trading session.
Background Color:
The script changes the background color of the chart to indicate buy (green) and sell (red) signals, making it visually clear when the strategy conditions are met.
In summary, this script implements a breakout trading strategy with various customizable conditions, including Bollinger Bands, Dema-VWAP crossovers, and session-specific rules. It also includes options for setting stop losses and trailing stop losses to manage risk and lock in profits. The "trail factor" helps adjust trailing stops dynamically based on recent price movements. Positions are closed under certain conditions to manage risk and ensure compliance with the defined trading session.
CE=Buy, CE_SL=stoploss_buy, tCsl=Trailing Stop_buy.
PE=sell, PE_SL= stoploss_sell, tpsl=Trailing Stop_sell.
Remember that trading involves inherent risks, and past performance is not indicative of future results. Exercise caution, manage risk diligently, and consider the advice of financial experts when using this script or any trading strategy.
Swing Ranges [ChartPrime]Swing Ranges is an indicator designed to provide traders with valuable insights into swing movements and real-time support and resistance (SR) levels. This tool detects price swings and plots boxes around them, allowing traders to visualize the market dynamics efficiently. The indicator's primary focus is on real-time support and resistance levels, empowering traders to make well-informed decisions in dynamic market conditions.
Key Features:
Swing Box Visualization:
Swing Ranges excels at detecting swings in the price data and visually representing them with boxes on the price chart. This enables traders to quickly identify swing ranges, essential for understanding market trends and potential reversal points. VWAP POCs are also provided giving areas of high activity in each block.
Real-Time Support and Resistance Levels:
The core feature of Swing Ranges is its real-time support and resistance levels. These levels are dynamically calculated based on the volume-weighted data for each specific range. The indicator displays the strength of support and resistance zones with percentage bars, indicating the ratio between bullish and bearish volume. This real-time information empowers traders to assess the strength and significance of each SR level, enhancing their ability to execute well-timed trades.
ATR (Average True Range) Value:
Swing Ranges also includes an ATR value label, which shows the Average True Range for the selected period. ATR aids traders in understanding market volatility, enabling them to set appropriate stop-loss and take-profit levels for their trades.
VWAP (Volume Weighted Average Price) Information:
Traders c an readily access the VWAP value through the indicator's label. VWAP provides insights into the average price at which an asset has been traded, helping traders identify potential fair value areas and market trends.
Price Difference Percentage:
Swing Ranges displays the percentage difference between the high and low of each swing. This information allows traders to gauge the magnitude of price movements and assess potential profit targets more effectively.
The indicator also has a NV value. If the NV is high e.g. 10% or more there is indecision in the market and the market is trying to remain in a given range.
Settings Inputs:
1. Length Control:
The Length setting input in Swing Ranges allows traders to adjust the sensitivity of the indicator to detect swings. Traders can customize the length based on their trading strategies and timeframes.
2. ATR Period Adjustment:
The ATR Period input allows traders to fine-tune the calculation period for the Average True Range. This feature enables traders to adapt the indicator to different market conditions and asset classes.
Swing Ranges: Real-Time Support and Resistance Indicator is a comprehensive tool that combines swing visualization with dynamic support and resistance levels. By focusing on real-time SR levels, this indicator equips traders with the essential information needed to make confident trading decisions in ever-changing market conditions.
Relative VolumeHello traders,
"There's nothing new on Wall Street" is an age-old saying that still shows its relevance in modern day financial markets; volume still serves as a valuable tool for any trader just as it did for those that came and succeeded before us; in order to succeed in modern day markets one has to take it up a notch and dabble in complicated topics, like math. Now I dunno about you reader but I’m not keen on sitting around all day just to watch numbers on a screen; it’s pretty important to add some color into your life before it becomes dull but how can someone add colors into their trading toolkit as an aid rather than bother? With a bit of help from 3 other amazing open-source indicators you too can become a statistics enjoyer by combining math and colors to make pattern recognition much more intuitive and offering more peace of mind when trading. “Sir but how?”, glad you didn’t ask, it helps with simplifying statistics, in this case a Gaussian bellcurve
“HUH?”, you say? Alright class, Gaussian bellcurves for math dislikers 101 is in session
- Imagine that we have a bunch of numbers that we want to graph. We could just draw a line and plot the numbers on it, but that might not be very interesting.
- Instead, we can use the shape of a bell to show how many of each number we have.
- Let's say we have a lot of people and we want to graph how tall they are. We would start by making a line from the shortest person to the tallest person, and then we would draw the bell shape around the line.
- The bell shape is called a "Gaussian Bell Curve," and it shows us how many people are a certain height.
- In the middle of the bell, where it's the widest, we have the most people who are about average height. As we move to the sides of the bell, the curve gets lower because there are fewer people who are really tall or really short.
The bell curve discussed is the main idea for the candle coloring component of this indicator as being able to analyze the distribution of an entire dataset, in this case volume, can alert us when volume/participation in the market is away from its average using color, and therefore an opportunity could be present. Fair warning, it’s important to not strictly focus on volume as volume is meant to be confluence to the current structure of the market rather than causing tunnel vision.
Why 3 indicators to combine?
It starts with the RVOL by Mik3Christ3ns3n indicator as the backbone by calculating the average volume over a specified period of time, and then compares each new volume value to this average to determine whether it is above or below the average. The indicator then normalizes the volume data and calculates the z-score/standard deviation to determine whether the volume is within normal range or is an anomaly beyond a specified threshold which can also be set into an alert to aid in eyeing possible opportunities.
The code also includes Candle Coloring by Morty as it calculates a function to get the z-score for the size of the candle's body, and then compares it to the z-score for volume to determine whether the body size is a factor in the price action.
Finally, the code plots the anomalies and the normalized volume data on the chart using the first RVOL indicator mentioned, and colors the bars of the chart based on whether they are within normal range or are anomalies which comes from using code from veryfid's relative volume indicator.
Overall, this custom technical indicator is best used to identify unusual changes in trading volume, which may indicate potential price movements in the underlying.
How about some examples?
This first example is for my scalpers wanting to get in and out but not having much of an idea where or let alone how; using a tool like VWAP can be great for determining the area value to execute mean reversion trades once a speculator spots a colored candle anomaly at standard deviation band. Works best when VWAP is flat as it signals lack of conviction from both bulls and bears
This second example is for my fire and forget intraweek swing traders who want to execute a higher timeframe trend-following bias. A speculator starting 2023 off notices that the negative sentiment around Binance from late last year has quieted down and has conviction in upside after BTC began an uptrend as monthly VWAP (right chart) has began sloping up as well as a rally with momentum shown with the blue colored candle so the trader waits wait for a pullback for entry. On the chart to the left of the 4H the speculator notices a pullback into the area of interest to do business so a limit bid is left to enter for continued upside in Bitcoin through January 2023 just by keeping things simple
That’s really the main purpose of this indicator: simplicity of statistics for confluence using volume
Volume precedes price and price moves only for narrative to follow- why wait for your subjective Twitter timeline to give you a biased narrative to trade when you can use objective analysis by combining statistics and colors to allow for a cleaner execution process
“But what about risk management?” Glad you didn’t ask reader!
One last example then, we meet our trend following trader again feeling euphoric so they know profit taking season is coming soon but wants to leave emotion out of it. How to go about it? Same idea as our last trend following example: we see on the 4h chart to the right side shows Bitcoin lose and trade back within the 2nd standard deviation of quarterly VWAP which is telling our speculator that the uptrend has broken on top of which notices on the 30 minute chart on the left that aggressive market buyers have been steadily absorbed by limit sellers on multiple occasions of retesting 30,500 shown with the green colored candles and volume bars below, time to sell.
Turns out that selling was proactive risk management because price dumped thereafter
Hope this explanation gave you some useful insights on using statistics as colors from cherrypicked examples, remember that just because my examples are cherrypicked doesn’t invalidate these concepts at all as the market only does two things, initiate aggressive auctions and respond passively to auctions. This tool makes for seeing where that initiative aggressive activity is happening much simpler to deduce if others will respond to an anomaly of initiative aggressive activity or if the aggression will continue.
If there’s just one thing you take from this- simplicity above all, cheers and good luck
Ichi-Price WaveWelcome to the Ichi-Price Wave. This indicator is designed for day trading options contracts for any ticker, using a number of indicators — Ichimoku Cloud, Volume-Weighted Average Price, Stochastic Relative Strength Index, Exponential Moving Average (13/48) — and calculating how they interact with each other to provide entry and exit signals for both Calls and Puts on normal days. ****Read the Important Information section before opening any positions based on this indicator. (Also *NFA)
The general concept is that you, the trader, are a Surfer 🏄🏾 who rides the best waves in deep water until it gets dangerous.
Emoji storyline: The 🏄🏾 emoji (Call or Put, depending on the color of its Green or Red label, respectively) indicates an upcoming *potential* entry that, for a number of reasons, may be disregarded. (See: Important Information section below). And just as there are no certainties in the stock market itself, the tiered exit signals are ranked by low 🐬, medium 🦈 and high risk 🦑 tolerance. (In other words, it's relatively safe to surf with dolphins around, but there's the off chance they even strike trainers and become aggressive. It's more dangerous to swim with sharks. And on the unlikely, rare occasion you see a literal, giant, mythical, ship destroying Kraken 😬 ... you definitely need to get out of the water.
Surfing for as long as possible reaps the greatest rewards — but risk/reward are to be considered for entries and exits. Exiting every time you see a 🐬 (E1) should secure profits nearly 100% of the time, but they'll be very minimal. Whereas surfing til you reach a Kraken 🦑 (which will not even appear on most Price Wave cycles) would reap the most rewards. (NFA: I recommend considering sharks 🦈 as an exit point for the majority of positions, and perhaps only keeping a few runners open with the hopes of finding that shiny Kraken. (On the non-Emoji chart, the low, medium and high risk exits are named E1, E2 and E3, respectively. Got to the indicator's Settings > Inputs > then toggle EMOJIs ON/OFF)
Boring stuff: The entry 🏄🏾 signals are triggered by multiple conditions that must be all true. For Call entries, one of the necessary conditions is that the RSI's K must be maximum 10 (this can be changed in default). This, along with another condition where current price must be below the VWAP Lower Bound 1, serves as a great reference point showing the stock price is currently uncomfortable where it is and may likely soon snap back closer to the VWAP, perhaps even to the other side due to a pendulum effect.
Important information
Relying on those two factors for setting entry and exit points are great for normal days. (Normal, as in the ticker price bounces within a channel (e.g., ≤3% + or -) that's trending slightly bullish or bearish depending on greater market trend). But there are abnormal days where news catalysts (e.g., CPI data, CEO scandals, unexpected company data release, etc.) trigger FOMO and FUD, ultimately rendering the logic behind most indicators non applicable (e.g., RSI's "buy when oversold"). On the chart, this indicator accounts for this with two measures:
One, you should only "Surf" in the water. That is, there are two bands — Shallow and Deep Water. Any "Surf" emojis where price action is outside of the water should be ignored**. Two, there are additional EMOJIs that show you "Bearish trend" ⛈ and "Bullish trend ☀️. (Story time again: You obviously shouldn't surf in thunder and lightning. But also, surfing in the blistering sun with no clouds in the sky during a heatwave is also dangerous to your health.)
You can use these two measures to disregard the "surfers" suggesting you join them in opening a position in the suggested direction. And surfers followed by Cloud EMOJIs — 🌤️ (Put) or 🌧️ (Call) — can be used as "perfect entry" points. (The clouds represent weather being less extreme and better for surfing).
(**While these should mostly be ignored, these have not been muted because there is the possibility of a very strong turn around if you happen to catch the last one (which is not ideal for risk-averse traders). Use other indicators, such as the MACD and trend lines, to find potential bottoms (or tops) as price action plunges (or soars) due to abnormal news circumstances.)
Entry and exit buffers
At the beginning of each day, most indicators usually are not immediately calibrated correctly due to premarket trading and open market (at least to the degree that the day's sentiment can be best read from them due to the amount of volatility). What I recommend when using this indicator is disregarding signals during the first 15 minutes (or possibly 30 minutes) of market open to get the best results. And also, considering this indicator is meant for day trading (i.e., not holding positions overnight), disregarding ENTRY signals for the last 45 minutes of the trading day could give yourself enough buffer on the back end for exiting comfortably.
RSI entry
Preparing for an entry when you see a surfer is recommended, but actually opening the position when you see a 🌤️ (Put) or 🌧️ (Call) would yield best results and avoid misfires — particularly when those two cloud EMOJIs are signaled when the RSI is overbought and K is at least 95 (Puts), or oversold and K at maximum 5 (Calls). (Story time logic: The cloud eclipsing the Sun means it's cooling off and better for surfing. And the rain cloud no longer having lightning means the "bearish" storm is possibly soon over).
Delta and the Greeks
You should experiment yourself, but keep in mind that this is for capitalizing off of a day's minor price swings (≤3% + or -). Entering a same day expiry contract that's deep OTM is not going to work with this indicator (even if you enter at a surfer 🏄🏾 and exit at a Kraken 🦑) because the price wave from one end to the other won't be enough to compensate for the other Greeks working against you. Use another indicator (or insider knowledge ... Just kidding, that's illegal, don't do that) if you want to buy those kind of contracts.
I personally purchase contracts w/ minimum 80% Implied Volatility and somewhere between 20-40 Delta. Having a nice range for yourself with these factors, depending also on the size of your own portfolio and the risk tolerance you have, will determine how much you're able to capitalize off successful entry and exits.
Tips
• I set stop losses 5-10% depending on the ticker. (e.g., $TSLA's volatility may require SL closer to 10% whereas using it on $SPY, a 5% could suffice). This is in addition to ignoring entry signals that don't meet the aforementioned two requirements (i.e., it's risky to Surf in shallow water, and you shouldn't try to Surf at all outside of the water, ref. Band 2 and outside of Band 2). Remember, this is the stock market — not the casino. We rely on strategy and risk management — not hope.
• It's recommended you use time intervals ≤ 5 min. (I use 1 minute and 5 min)
• Liquidity . Using these signals on a ticker with low liquidity (particularly if you enter on the Ask side), can reduce your profits to 0% or even to a loss even if you have a perfect entry and exit. I always point to SPY as the optimal bid-ask spread, but keep that in mind.
What's with the name "Ichi-Price Wave"?
The "Ichi" gives credit to Japanese journalist Goichi Hosoda, whose indicator I used in conjunction with the 13/48 Exponential Moving Averages to create some of the exit signal conditions (e.g., E2🦈). That E2 condition is: Signal the first time the price intersects the Ichimoku conversion line *after* it has entered the VWAP UB/LB channel on one end and has exited on the opposite end). And it's named "Price Wave" because it's a literal price wave, which is where the fun surf narrative comes in. Also, "Price" doubles as me naming it after myself (in a less pretentious way). It's actually convenient that my last name is literally Price. Almost as if I was born for this. Nonetheless, this indicator is far more accurate in spotting directional changes than the free 13/48 cross, which oddly enough, influencers are charging for access. It's free, but the code is protected, for now at least.
Try it out on any ticker and look at how accurately it catches the tops and bottoms (keeping in mind to ignore misfires according to the two measures and also setting ~5-10% stop losses). And of course, use this in conjunction with other indicators. Ignoring all of my other emojis and simply setting surfer 🏄🏾 alerts could serve as additional confirmations for your personal strategy. Or you could simply enter at a surfer 🏄🏾 and exit when it reaches VWAP (or at least increase your Stop Loss to sell at break even if it doesn't reach). That strategy is the most conservative and would secure consistent gains). AND AGAIN, use your stop losses. Either it makes a move or it doesn't. Simply re-enter at a better point if necessary.
VisibleChart█ OVERVIEW
This library is a Pine programmer’s tool containing functions that return values calculated from the range of visible bars on the chart.
This is now possible in Pine Script™ thanks to the recently-released chart.left_visible_bar_time and chart.right_visible_bar_time built-ins, which return the opening time of the leftmost and rightmost bars on the chart. These values update as traders scroll or zoom their charts, which gives way to a class of indicators that can dynamically recalculate and draw visuals on visible bars only, as users scroll or zoom their charts. We hope this library's functions help you make the most of the world of possibilities these new built-ins provide for Pine scripts.
For an example of a script using this library, have a look at the Chart VWAP indicator.
█ CONCEPTS
Chart properties
The new chart.left_visible_bar_time and chart.right_visible_bar_time variables return the opening time of the leftmost and rightmost bars on the chart. They are only two of many new built-ins in the `chart.*` namespace. See this blog post for more information, or look them up by typing "chart." in the Pine Script™ Reference Manual .
Dynamic recalculation of scripts on visible bars
Any script using chart.left_visible_bar_time or chart.right_visible_bar_time acquires a unique property, which triggers its recalculation when traders scroll or zoom their charts in such a way that the range of visible bars on the chart changes. This library's functions use the two recent built-ins to derive various values from the range of visible bars.
Designing your scripts for dynamic recalculation
For the library's functions to work correctly, they must be called on every bar. For reliable results, assign their results to global variables and then use the variables locally where needed — not the raw function calls.
Some functions like `barIsVisible()` or `open()` will return a value starting on the leftmost visible bar. Others such as `high()` or `low()` will also return a value starting on the leftmost visible bar, but their correct value can only be known on the rightmost visible bar, after all visible bars have been analyzed by the script.
You can plot values as the script executes on visible bars, but efficient code will, when possible, create resource-intensive labels, lines or tables only once in the global scope using var , and then use the setter functions to modify their properties on the last bar only. The example code included in this library uses this method.
Keep in mind that when your script uses chart.left_visible_bar_time or chart.right_visible_bar_time , your script will recalculate on all bars each time the user scrolls or zooms their chart. To provide script users with the best experience you should strive to keep calculations to a minimum and use efficient code so that traders are not always waiting for your script to recalculate every time they scroll or zoom their chart.
Another aspect to consider is the fact that the rightmost visible bar will not always be the last bar in the dataset. When script users scroll back in time, a large portion of the time series the script calculates on may be situated after the rightmost visible bar. We can never assume the rightmost visible bar is also the last bar of the time series. Use `barIsVisible()` to restrict calculations to visible bars, but also consider that your script can continue to execute past them.
Look first. Then leap.
█ FUNCTIONS
The library contains the following functions:
barIsVisible()
Condition to determine if a given bar is within the users visible time range.
Returns: (bool) True if the the calling bar is between the `chart.left_visible_bar_time` and the `chart.right_visible_bar_time`.
high()
Determines the value of the highest `high` in visible bars.
Returns: (float) The maximum high value of visible chart bars.
highBarIndex()
Determines the `bar_index` of the highest `high` in visible bars.
Returns: (int) The `bar_index` of the `high()`.
highBarTime()
Determines the bar time of the highest `high` in visible bars.
Returns: (int) The `time` of the `high()`.
low()
Determines the value of the lowest `low` in visible bars.
Returns: (float) The minimum low value of visible chart bars.
lowBarIndex()
Determines the `bar_index` of the lowest `low` in visible bars.
Returns: (int) The `bar_index` of the `low()`.
lowBarTime()
Determines the bar time of the lowest `low` in visible bars.
Returns: (int) The `time` of the `low()`.
open()
Determines the value of the opening price in the visible chart time range.
Returns: (float) The `open` of the leftmost visible chart bar.
close()
Determines the value of the closing price in the visible chart time range.
Returns: (float) The `close` of the rightmost visible chart bar.
leftBarIndex()
Determines the `bar_index` of the leftmost visible chart bar.
Returns: (int) A `bar_index`.
rightBarIndex()
Determines the `bar_index` of the rightmost visible chart bar.
Returns: (int) A `bar_index`
bars()
Determines the number of visible chart bars.
Returns: (int) The number of bars.
volume()
Determines the sum of volume of all visible chart bars.
Returns: (float) The cumulative sum of volume.
ohlcv()
Determines the open, high, low, close, and volume sum of the visible bar time range.
Returns: ( ) A tuple of the OHLCV values for the visible chart bars. Example: open is chart left, high is the highest visible high, etc.
chartYPct(pct)
Determines a price level as a percentage of the visible bar price range, which depends on the chart's top/bottom margins in "Settings/Appearance".
Parameters:
pct : (series float) Percentage of the visible price range (50 is 50%). Negative values are allowed.
Returns: (float) A price level equal to the `pct` of the price range between the high and low of visible chart bars. Example: 50 is halfway between the visible high and low.
chartXTimePct(pct)
Determines a time as a percentage of the visible bar time range.
Parameters:
pct : (series float) Percentage of the visible time range (50 is 50%). Negative values are allowed.
Returns: (float) A time in UNIX format equal to the `pct` of the time range from the `chart.left_visible_bar_time` to the `chart.right_visible_bar_time`. Example: 50 is halfway from the leftmost visible bar to the rightmost.
chartXIndexPct(pct)
Determines a `bar_index` as a percentage of the visible bar time range.
Parameters:
pct : (series float) Percentage of the visible time range (50 is 50%). Negative values are allowed.
Returns: (float) A time in UNIX format equal to the `pct` of the time range from the `chart.left_visible_bar_time` to the `chart.right_visible_bar_time`. Example: 50 is halfway from the leftmost visible bar to the rightmost.
whenVisible(src, whenCond, length)
Creates an array containing the `length` last `src` values where `whenCond` is true for visible chart bars.
Parameters:
src : (series int/float) The source of the values to be included.
whenCond : (series bool) The condition determining which values are included. Optional. The default is `true`.
length : (simple int) The number of last values to return. Optional. The default is all values.
Returns: (float ) The array ID of the accumulated `src` values.
avg(src)
Gathers values of the source over visible chart bars and averages them.
Parameters:
src : (series int/float) The source of the values to be averaged. Optional. Default is `close`.
Returns: (float) A cumulative average of values for the visible time range.
median(src)
Calculates the median of a source over visible chart bars.
Parameters:
src : (series int/float) The source of the values. Optional. Default is `close`.
Returns: (float) The median of the `src` for the visible time range.
vVwap(src)
Calculates a volume-weighted average for visible chart bars.
Parameters:
src : (series int/float) Source used for the VWAP calculation. Optional. Default is `hlc3`.
Returns: (float) The VWAP for the visible time range.
Market First - Relative Strength/Weakness (the ZenBot strategy)This market-first trading strategy gives BUY, SHORT, and CLOSE signals based on volume, trend, and relative strength or weakness to the market (SPY by default, can be customized). This indicator is useful for signaling day-trade entries and exits for tickers that are strong (or weak) against the market.
Stocks that are showing relative strength (or weakness) to the market, are trending, and have decent movement generate a buy (or short) signal. When the trend runs out, a CLOSE signal is fired.
Potential profit (based on ATR) and actual profit is calculated, predicting the type of move expected
Unique 'stay in trade' logic helps prevent unnecessary CLOSE signals if a trend is likely to continue
A colored plot indicates the strength of the current trend and turns orange/red when the strength is weakened.
Crypto traders can uncheck 'Trade during market hours' for 24-hour trading, and should change the comparison ticker from SPY to BTCUSD or something similar for their market.
Enjoy!
KEY CONCEPTS
The three- and five-minute timeframes are used to establish and verify trend ( ADX /DI with custom logic)
Entries and exits are based on Parabolic SAR and confirmed on multiple timeframes, trend, and relative volume
Relative strength /weakness to the market compares ticker to SPY
Chop is avoided at all costs. I've experimented with choppiness indicator below 38, but found that the ADX DI+/- readings work even better.
Trend is established using ADX DI+/- readings over 20, confirmed by EMA 5/13 crossover and EMA5 slope
Signals will fire only if the average volume for the current 5-min bar is above normal
Only tickers with a five-bar / 13 period ATR of 1% the ticker's price generate signal.
Only longs above daily-anchored VWAP , shorts below daily-anchored VWAP
Signals fire on bar close to prevent repainting / look-ahead bias
Indicator labels and alerts generated
SIGNALS
BUY: up-trending tickers showing relative strength are bought on the three-minute PSAR
SELL: when the close price falls below the 1, 3, and 5-minute PSAR, or the ADX DI- falls below 20
SHORT: down-trending tickers with relative weakness are shorted on the three-minute PSAR
COVER: when the close price moves above the 1, 3, and 5-minute PSAR, or the ADX DI- falls below 20
ALERTS
Alerts are generated on BUY, SELL, SHORT, and COVER signals, as well as optional LOST RELATIVE STRENGTH and LOST RELATIVE WEAKNESS
INPUTS
Use relative strength /weakness comparison with the market : trigger trades based on the ticker's strength or weakness to the selected comparison ticker (usually SPY for equities or BTCUSD for crypto)
[* ]Comparison Ticker for relative strength /weakness : Ticker to compare against for relative strength /weakness
Trade during market hours only : Take buy/sells during specified hours. Disable this for crypto trading.
[* ]Market hours (market time) : Customize market hours - defaults to 9:30 to 16:00 EST
[* ]"Only trade very strong trends" : take trades only if an established trend is very strong ( ADX over 40 ) (DEFAULT = ON)
"Limit trade direction to VWAP" : Long trades only above VWAP , shorts below (DEFAULT = ON)
"Limit trade direction to Market direction" : Long trades only if SPY (or selected comparison ticker) is up, shorts if the market is down. (DEFAULT= ON)
"Limit trades based on a ticker's green/red status for the day" : Long trades if the ticker is green for the day, shorts if red. (DEFAULT = ON)
Market First Signals - Relative Strength/WeaknessThis market-first trading strategy gives BUY, SHORT, and CLOSE signals based on volume, trend, and relative strength or weakness to the market (SPY by default, can be customized). This indicator is useful for signaling day-trade entries and exits for tickers that are strong (or weak) against the market.
Stocks that are showing relative strength (or weakness) to the market, are trending, and have decent movement generate a buy (or short) signal. When the trend runs out, a CLOSE signal is fired.
Potential profit (based on ATR) and actual profit is calculated, predicting the type of move expected
Unique 'stay in trade' logic helps prevent unnecessary CLOSE signals if a trend is likely to continue
A colored plot indicates the strength of the current trend and turns orange/red when the strength is weakened.
Crypto traders can uncheck 'Trade during market hours' for 24-hour trading, and should change the comparison ticker from SPY to BTCUSD or something similar for their market.
Enjoy!
KEY CONCEPTS
The three- and five-minute timeframes are used to establish and verify trend (ADX/DI with custom logic)
Entries and exits are based on Parabolic SAR and confirmed on multiple timeframes, trend, and relative volume
Relative strength /weakness to the market compares ticker to SPY
Chop is avoided at all costs. I've experimented with choppiness indicator below 38, but found that the ADX DI+/- readings work even better.
Trend is established using ADX DI+/- readings over 20, confirmed by EMA 5/13 crossover and EMA5 slope
Signals will fire only if the average volume for the current 5-min bar is above normal
Only tickers with a five-bar / 13 period ATR of 1% the ticker's price generate signal.
Only longs above daily-anchored VWAP, shorts below daily-anchored VWAP
Signals fire on bar close to prevent repainting / look-ahead bias
Indicator labels and alerts generated
SIGNALS
BUY: up-trending tickers showing relative strength are bought on the three-minute PSAR
SELL: when the close price falls below the 1, 3, and 5-minute PSAR, or the ADX DI- falls below 20
SHORT: down-trending tickers with relative weakness are shorted on the three-minute PSAR
COVER: when the close price moves above the 1, 3, and 5-minute PSAR, or the ADX DI- falls below 20
ALERTS
Alerts are generated on BUY, SELL, SHORT, and COVER signals, as well as optional LOST RELATIVE STRENGTH and LOST RELATIVE WEAKNESS
INPUTS
Use relative strength/weakness comparison with the market : trigger trades based on the ticker's strength or weakness to the selected comparison ticker (usually SPY for equities or BTCUSD for crypto)
Comparison Ticker for relative strength/weakness : Ticker to compare against for relative strength/weakness
Trade during market hours only : Take buy/sells during specified hours. Disable this for crypto trading.
Market hours (market time) : Customize market hours - defaults to 9:30 to 16:00 EST
"Only trade very strong trends" : take trades only if an established trend is very strong (ADX over 40) (DEFAULT = OFF)
"Limit trade direction to VWAP" : Long trades only above VWAP, shorts below (DEFAULT = ON)
"Limit trade direction to Market direction" : Long trades only if SPY (or selected comparison ticker) is up, shorts if the market is down. (DEFAULT= OFF)
"Limit trades based on a ticker's green/red status for the day" : Long trades if the ticker is green for the day, shorts if red. (DEFAULT = OFF)
Nifty & BN 2 Candle Theory Back Testing and Alert Notification How To Initiate Long Trade-in Index Future/ Buy Call Options – 3 Min TF
▪ If The Index Futures Trades Above The VWAP, the Following Parameters are Checked For 2 Candle Theory on the long side
▪ RSI Trades Above 50 & Between 50-75/80
▪ Volume Of 2 Consecutive Bars Is Above 50 K for BN & 125 K For Nifty
▪ All the indicators (Parabolic SAR, Super Trend, VMA, VWAP) Below the Candles
▪ When the above conditions are met enter In 3rd Candle, With 1st Candle High As SL
How I Initiate Short Trade-In Index Future/ Buy Put Options – 3 Min TF
▪ If The Index Futures Trades Below The VWAP, the Following Parameters are Checked For 2 Candle Theory on the short side
▪ RSI Trades Below 40 & Between 40-25/20
▪ Volume Of 2 Consecutive Bars Is Above 50 K for BN & 125 K For Nifty
▪ All the Indicators (Parabolic SAR, Super Trend, VMA, VWAP) Above The Candles
▪ When the above conditions are met enter In 3rd Candle, With 1st Candle High As SL
The indicator checks the above and notifies to enter a long trade and short trade respectively. There is also volume cutoff and change in the volumes respectively, also non-trading times that can be set.
[EG] MA ATR ChannelsGreetings - the aim of this indicator was to code a single indicator with a selectable moving average, so I could examine price relationships to MA's and Average True Range (ATR) bollinger type bands. You can obviously approach this tool in so many different ways so I am going to share first an overview of moving averages and a short overview of how I use this this indicator.
Simple ( SMA ) – A simple average of the past N (length) prices. Just add the price data for each N (bar) and divide the total by N.
Exponential ( EMA ) – An exponential moving average with a greater weight for recent prices. The weighting is exponential. An N-period EMA takes more than N data points into account and gradually dilutes past data’s effect.
Double Exponential ( DEMA ) - Same as an EMA , the Double exponential moving average , or DEMA , is a measure of a security's trending average price that gives the even more weight to recent price data. Aimed to help reduce lag.
Triple Exponential ( TEMA ) - Same as an EMA , the Triple exponential moving average , or TEMA , is a measure of a security's trending average price that gives the even more weight to recent price data than EMA or DEMA . Aimed to help reduce lag.
Weighted ( WMA ) – An average of the past N prices with a linear weighting, again giving greater weight to more recent prices.
Hull ( HMA ) - The Hull Moving Average (developed by Alan Hull) has the purpose of reducing lag, increasing responsiveness while at the same time eliminating noise. It emphasises recent prices over older ones, resulting in a fast-acting yet smooth moving average that can be used to identify the prevailing market trend.
Wilder's (RMA) - Wilder's smoothing is a type of exponential moving average . It takes one parameter, the period n, and price. Larger values for n will have a greater smoothing effect on the input data but will also create more lag. It is equivalent to a 2n-1 Exponential Moving Average . For example, a 10 period Wilder's smoothing is the same as a 19 period exponential moving average .
Symmetrically Weighted ( SWMA ) - Weight distribution starts from median of given period and it's reduced linearly to the sides so the ending and starting point of period have the least weight. It's smooth and fast but reacts late to trend changes on higher lengths (lookback).
Arnaud Legoux ( ALMA ) - Arnaud Legoux Moving Average removes small price fluctuations and enhances trend via applying a moving average twice, once from left to right, and once from right to left and combines both. At the end of this process the phase shift (price lag) commonly associated with moving averages is significantly reduced.
Volume-Weighted ( VWMA ) - A Volume-Weighted Moving Average gives a different weight to each closing price and this weight depends on the volume of that period. For example, the closing price of a day with high volume will have a greater weight on the moving average value.
Volume Weighted Average Price ( VWAP ) - Though not necessarily a MA - Volume-weighted average price ( VWAP ) is a ratio of the cumulative share price to the cumulative volume traded over a given time period and so I thought would be useful as an ATR tool. The VWAP is calculated using the opening price for each day and adjusting in real time right up until the close of the session. Thus, the calculation uses intraday data only.
So what is Average True Range ?
Average True Range is a measure of volatility . It's an area that represents roughly how much you can expect a security to change in price over a time period. Average true range is usually calculated by applying Wilders Smoothing to True Range. If you want regular ATR - use RMA as the input for the ATR. The ATR is then divided into periods based on derivatives of Phi (3.14) and Fibs (0.618, 1.618 etc.) You will notice price bounces off the lines. Look for patterns.
The indicator - consisting of 3 parts:
Price/Fast MA - this is an MA anywhere between 3-20 periods that is reflective of very recent price action. It is red when price is below - and green when above. Recommendations : SMA , EMA , WMA , HMA
Trend/Medium MA - this is a slower MA that you could set anywhere between 30 - 100 periods that is reflective of overall bull/bear market trend depending on both it's direction and whether the Price MA / price is lower or higher. Recommendations: EMA , WMA , VWMA , RMA, ALMA
Average True Range - this is a way to measure and visualise range the price may be capable of in - if it is towards or below the 2.1 multiplier - a bull reversal is more likely and vice versea. The multi's are set to factors of Pi and Fibonacci ratio's. Green channel means bullish, red channel means bearish. Gold means sign of a likely reversal. If the PMA enters the channel - it is likely the reversal is cancelled for a short period more.
Recommendations : RMA, EMA , VWMA , ALMA , SWMA , VWAP
How I use it :
First of all - Consider longs when channel is green - or going to bounce on a support line - and consider shorts based on the opposite. This is not a buy/sell indicator - this is a MAP to PRICE to give reference and meaning to price movements across multiple time frames - very useful when using with a volume indicator and an RSI. I personally use it on the 3m chart but change the TFM to 5 for 15m data.
If you wish to see any other more exotic or interesting MA's added please feel free to request them in the comments ! And thanks for checking out my first indicator
Tradingview ToolkitA new trader's biggest barrier to entry is lack of understanding where they are in terms of time and price and with tradingview free they are often limited to just 1 or 2 extra indicators as many new traders slap on RSI and MACD as 2/3 free ones. While these indicators are fine for trend analysis, its important to know where the price is in relation to time. Thus, this all-in-one script is meant to have a lot of customizable utility to save on indicator spots and act as a hotspot for many common needs.
-2 Sets of VWAP line w/ standard deviation bands with customizable timeframes.
-1 more customizable timeframe VWAP line (no std dev bands) to use as a long time frame reference
-Ability to plot previous VWAP close prices over current timeframe on all VWAP lines w/ basic color changing if price closes above/below
-2 Sets of Bollinger Bands with customizable source length and MA type
-3 customizable moving averages with custom timeframe/resolutions
-Inside candle barcolor repainter to easily notice if a candle was inside the range of the previous candle (price contraction)
Not meant to have everything on at once, but simply a place to enable and disable different things and save spots for more important things
Altered True Strength Indicator (TSI) Reupload-
Altered TSI provides a slightly more volatile signal that demonstrates extremities in price action with greater success than standard TSI. In addition, I added bull/bear cross indicators (green/red) to make it easier to notice the crosses to save time when the market is moving fast (I couldn't find a regular TSI script with this addition). Finally, the signal also has overextension parameters (red and green lines)
I think this is best used on Intraday time frames as the signals respond to volatility very well and using Heikin Ashi candles, trend is more visual. In this particular example, I am showing SPY on the 3m time chart (my favorite short time frame) and the signal alone provided many opportunities for trades when using simple divergences and countering overextension direction when short term (blue) signal crosses either
In the first example (purple lines), SPY ramps but it was a dull signal given the signal strength flatlining- we would be looking for a short entry. When the signal fires, it provides a clean $1.50 move down in spy.
In the second example (orange), the blue signal provides a nice V shape (rebound signal) in which we are looking for a long entry. 390.50 is a strong SPY support in confluence with 2nd std dev VWAP extension, but disregarding that bull signal fires resulting in a 2 dollar move upwards. Exit is provided when blue line crosses green overextension.
In the third example (white), we are searching for a short entry at 392.5 resistance in confluence with divergently higher highs. Bear cross signal when fired and a significant cross is visible provides a $2.50 move to the downside with a potential exit provided when blue line crosses red overextension line in confluence with previous LOD area.
In the fourth example (green), we watch as the blue line provides a V pattern, we are searching for a long entry. If you didn't take a riskier long at 2nd std dev VWAP overextension with V recovery on blue line at red overextension for a ride to vwap, then you are looking for a secondary entry long as you wouldn't take the trade at resistance (vwap). Bullishly divergent lows provide this entry and the signal does not bear cross at all (but looking for significant crosses is more important even if the signal were to make a minor bear cross). Bullishly divergent double bottom provides a long entry to end of day with a nice clean signal for a $5.00 move until eod or when signal crosses overextension range.
Ideally, close to the money options or SPY/SPXS/SPXL are best used in the intraday time frame.
Again, this is not a standalone indicator but it's best used in conjunction with other indicators/trading strategies
Any questions feel free to comment
TopTenAlgo 2. HFT AlgoEN: High Frequency Trade Algo TVQ is an advanced algorithmic system developed using Volume Weighted / Exponential Moving Averages, vWap and Ichimoku . Said indicators are re-blended with the Volume Weighted Average ( vWap ) algorithm used by Merryl Lynch or Yapıkredi algorithms. It does not act like the classic Ichimoku or Moving Averages. TVQ was used instead of RSI . High Frequency Trade Algo's incorporate a 3-sided trading strategy that detects Risk Areas and allows you to stay Flat if necessary (red and white circles above the bars) or generates appropriate signals in the buy and sell regions, that measures the risk. In the triangle or flat / horizontal corrections you need to stay flat, it warns you beforehand that you are in the risky area, while the trend will occur, it warns you with a buy or sell signal.
This algorithm is prepared with @Top10Algo ... Optimization Risky and Wait Zone
TR: High Frequency Trade Algo TVQ, Hacim Ağırlıklı/Exponential Hareketli Ortalamalar, vWap ve Ichimoku kullanarak geliştirilen gelişmiş bir algoritmik sistemdir. Bahsi geçen göstergeler Merryl Lynch yada Yapıkredi algoritmalarının kullandığı Volume Weighted Average ( vWap ) algoritması ile yeniden harmanlanmıştır. Klasik Ichimoku yada Hareketli Ortalamalar gibi hareket etmez. RSI yerine TVQ kullanılmıştır. High Frequency Trade Algo’ lar Riskli Bölgeleri tespit edip gerekirse Flat kalmanızı sağlayan(barların üstündeki kırmızı ve beyaz daireler) yada alım ve satım bölgelerinde uygun sinyaller üreten yani riski ölçen 3 taraflı bir trading stratejisini içinde barındırır. Flat kalmanız gereken üçgen yada yassı/yatay düzeltmelerde sizi riskli bölgede olduğunuz konusunda önceden uyarırken, trend oluşacağı zamanda al yada sat sinyali ile önceden uyarır.
Bu algoritma @Top10Algo ile beraber hazırlanmıştır...Riskli ve Bekleme yapılan Flat bölgelerle ile ilgili iyileştirmeler yapıldı...
DRVS Sigs [intromoto]This indicator focuses on the RSI vwap, which is RSI, but with VWAP as a source, instead of the close. This focuses on its extremes, and movements away from extremes back to 'normal'.
The rsi vwap is used for directional bias in trends and potential areas for reversal.
"Allow repainting" option for when warranted.
There are two outputs for each level, essentially giving a warning signal for reversal and the larger plot for more likely reversal. Since this indicator is based off of strength, parabolic moves can blow through the warning and reversal signals, so be aware of major breaks in market structure.
Each plot set has a resolution filter to help reduce the noise and false signals. Also an option for 1st signal plot size. Signals share RSI-Vwap length.
DM for access.
Cheers!
CroSel Indicator ToolboxA value-packed or all-in-one indicator. The main one is probably the algorithmic signal. I have noticed a few trading groups that rely solely on their algo trading signals. I have derived my own using MACD . I find that it works better or just as good as what I have seen. The others indicators are also very powerful and could even be used on a stand alone basis. There are different variations included. I wanted to provide 10x the value at whatever price I would put on this. However I think I've provided at least 20x the expected value. What I like about this is that with more signals, we can visually see confluence. In turn, that should give us traders confidence. The follow is a list of all the indicators I've included so far:
How to use (for all indicators): I suggest using these trade signals as confluence for the main algorithmic trade signals. Aside from MACD and RSI , there are a limited number of signals, but they will all show up within the most recent bars that have passed. Buy when green/lime and sell when red/fuchsia. I suggest experimenting with the the different modes to see what you believe works best for your trading style.
I prefer to use the last signal provided, but I also like to rely on looking at signals as a group, if they are all rising, I'm bullish ; if they are all falling, I'm bearish .
Note on Color Scheme: Red/Fuchsia color means to short/sell and green/lime color means to long/buy.
- Algorithmic signal - provides trade signals. How to use: When there is a green arrow up, it means you should go long. When there is a red arrow down, it means you should exit your long or short sell. If the arrow is lime colored, it means the stock is trending upwards and if the arrow is fuchsia, it means the stock is trending downwards.
- Band and hit count - provides bands to track volatility , as well as tracks the number of times the price hits the upper or lower bands. It also provides candle-to-candle slope as a %. How to use: You can use this to play the odds in your favor. For example: if a stock hits the upper bands 13 times during the morning, and then hits the lower bands 4 times afterwards and then moves upwards away from the lower bands towards the middle of the bands, from here we may be able to say that since 13 is greater than 4, that the stock price may rise again and start hitting the upper bands. Another way I like to use this indicator, is if a stock hits the upper bands more than 16 to 20 times, I like to exit the trade before it has a chance to drop. Lastly, there are zones where a stock price will go above or below 100% or 0% respectively. For example, a stock starts to hit the 110% area of the bands. This could be an excellent time to sell/short the stock.
- Volume surge - provides signals of when volume is increasing/decreasing depending on the color and direction. How to use: Gives you confidence that the price will rise higher/lower.
- EMA 5 & 10 - It is the exponential moving average of the past 5 or 10 bars. It will be either be red or green depending on the slope. How to use: I like to use it as if it were a trend line (which I like to call slanted support/resistance ). For example, if I buy a stock and it falls below EMA 10 I will generally sell the stock, and if it rises past EMA 5 I will generally buy the stock.
- Background color - Background color shows whether the stock is bullish or bearish . If it is green/red, it is slightly bullish / bearish respectively. If it is lime/fuchsia, it is very bullish / bearish respectively. How to use: Take long positions if the background color is greenish(i.e. green/lime) and take short position if the background color is reddish (i.e.red/fuchsia). Please bear in mind, background color will look slightly different if you are already coloring the extended hour session backgrounds.
- Channel Breakout Lines - These lines show the rigid channel that the stock will travel through. How to use: Watch a stock that is in a channel, if it is going up, watch the red dotted line which extends into the future,
if it the stock falls below that previous red dotted line you should sell/short the stock. If a stock is going down, watch the green dotted line, and if the stock goes past the previous green dotted line, you should buy.
- MACD - Moving Average Convergence and Divergence provides trade signals. How to use: 1 turns it off. 2 provides the classic, buy and sell signals based on when the MACD line crosses over or under the signal line. 3 provides faster trade
signals. 4 provides the algorithmic signals. All variations can change according to Algo sensitivity and Algo Signal speed since the algo uses MACD as it's base.
- RSI - Relative Strength Index provides trade signals. How to use: 1 turn it off, 2 turns on and provides the buy and sell signals for above 70 and below 30 RSI respectively. 3 and 4 provide slow and fast RSI trade signals respectively.
4 is my favorite and can be used to provide confluence.
- VWAP - Volume Weighted Average Price . a 2 value is the regular vwap line. A value of 3 or 4 will show that the VWAP line or fill from line until the close is colored
according to slope of EMA 5. How to use: Buy below the VWAP if it shows some support and sell/Short above if it shows some resistance. When the color is red it will show the
- ROC - Rate of Change trade signals. Take note of the circle shaped symbols. Normal mode shows you when the rate of change has crossed the zero line; this can be a very bullish or bearish signal. 3rd mode will gives signals based on whether ROC has stopped making new highs or new lows. 4th mode gives the fastest signals, making it the least risky.
- MFI - Money Flow Index trade Signals. Take note of the Long arrow symbols. Modes work as described.
- BOP - Balance of power trade signals. Take note of the square symbols. The simple mode provides only the biggest trade signals, and the complex mode provides both the biggest and smallest trade signals.
- OBV - A running total of positive and negative volume . Take note of the diamond shaped symbols. Slow signals are really slow. Fast signals are really fast. Use according to your trading speed preference.
- Stochastics - A momentum oscillator that provides trade signals. Take note of the plus shaped symbols and factor them into your judgement on when to trade.
- CCI - Commodity Channel Index trade signals based on momentum. Take note of the X symbols.
- CMF - Chaikin Money Flow trade signals. Take note of the flag symbols.
- ADX - ADX is a component of the Directional Movement System developed by Welles Wilder. When it says to buy, I suggest that you go long, and then before it says to sell you try to sell. And then you can also try to go long before it says to buy. As soon as I see buy, I want to be in the stock and conversely, when I see sell I want to be out of it.
- Price-Volume Divergence - This indicator is a candle by candle indicator which shows that if volume is rising and price is falling, then there is bullish divergence , Conversely if price is rising and volume is falling there is bearish divergence. This a leading indicator.
- Ichimoku Clouds - This indicator just shows the clouds in the Ichimoku cloud system. It can be used to buy under the clouds and sell over the clouds. It can also be used as a possible support/resistance level during an uptrend/downtrend respectively.
- PSAR - Parabolic Stop and Reverse . Denotes uptrends/downtrends, by multiple dotted lines. You can use it by buying/selling when it breaks out of a downtrend/uptrend respectively. Or you can use it to sell/buy during an uptrend/downtrend respectively. Warning: it is generally slow. I find that it's very reliable from a 5 minute perspective.
- Fibonacci levels - People generally use Fibonacci levels for retracement for when a stock pulls back. I personally like to use it as a predictive tool along with looking at the slope. If the slope is negative/positive and moving away/near from 50% line then, I would be bearish / bullish respectively.
- Moving Average ( EMA and SMA ) lines - Exponential moving average and Smooth moving average lines. EMA lines move faster and SMA lines move slower. I like to use these lines as trend lines which can tell me if there is an uptrend or downtrend. The strength of the trend is shown by the distance away from the slowest EMA / SMA lines. I like to sell when it's far above the trendline, and buy when it's closer to the trendline. Be weary of the price crossing trendlines .
- Information Panel - (Price location, Trend Strength, Volatilty Ratio, Current State, Reversal/Continuation Odds): Mode 2 will give you basic price location info. Mode 3 is my favorite and will give you the most info. and Mode 4 will give you the Schwager volatility ratio which can help with stock selection; the higher the ratio, the more movement can be expected.
- Support & Resistance levels - Horizontal dotted lines which show the stock price and where it experiences support/resistance . Can be used in many ways. I like to use it by counting the number of support/resistance lines provided and if support lines exceed resistance lines, I will be more likely to go long.
- Candle Colors - Overlay a color onto the Candles. Note: I encourage the use of Heiken Ashi which helps a lot with low volume candles. Candles can be colored according to their location within the bands, and also according to a trailing stop loss based on Average True Range . Buy low, sell high for the location mode and for the stop loss mode, selling/buying is encouraged when the bars go completely red/green respectively.
- Linear Regression - Draws a (black) line of best fit, and shows 2 standard deviations away from the line of best fit above(red) and below(green). I suggest buying/selling below/above the line of best fit respectively. Strong buys or sells generally occur below or above the standard deviation lines respectively.
VolumeWeightedAveragePriceHey guys,
here i present an advanced version of the standard VWAP indicator, with some configurable offsets.
The basic VWAP is an intraday average price weighted by volume to offer great levels to enter a trade (long or short).
The Formula looks like this:
VWAP= (∑Price * Volume) / ∑Volume
Its very simple to use: if the price closes above the VWAP its bullish, if it closes below its bearish. Because it acts as support and resistance, you can find good entries around this level and also on its offsets.
Feel free to ask if something is unclear now.
Cheers
888 BOT #alerts█ 888 BOT #alerts
This is an Expert Advisor 'EA' or Automated trading script for ‘longs’ and ‘shorts’, which uses only a Take Profit or, in the worst case, a Stop Loss to close the trade.
It's a much improved version of the previous ‘Repanocha’. It doesn`t use 'Trailing Stop' or 'security ()' functions (although using a security function doesn`t mean that the script repaints) and all signals are confirmed, therefore the script doesn`t repaint in alert mode and is accurate in backtest mode.
Apart from the previous indicators, some more and other functions have been added for Stop-Loss, re-entry and leverage.
It uses 8 indicators, (many of you already know what they are, but in case there is someone new), these are the following:
1. Jurik Moving Average
It's a moving average created by Mark Jurik for professionals which eliminates the 'lag' or delay of the signal. It's better than other moving averages like EMA, DEMA, AMA or T3.
There are two ways to decrease noise using JMA. Increasing the 'LENGTH' parameter will cause JMA to move more slowly and therefore reduce noise at the expense of adding 'lag'
The 'JMA LENGTH', 'PHASE' and 'POWER' parameters offer a way to select the optimal balance between 'lag' and over boost.
Green: Bullish, Red: Bearish.
2. Range filter
Created by Donovan Wall, its function is to filter or eliminate noise and to better determine the price trend in the short term.
First, a uniform average price range 'SAMPLING PERIOD' is calculated for the filter base and multiplied by a specific quantity 'RANGE MULTIPLIER'.
The filter is then calculated by adjusting price movements that do not exceed the specified range.
Finally, the target ranges are plotted to show the prices that will trigger the filter movement.
Green: Bullish, Red: Bearish.
3. Average Directional Index (ADX Classic) and (ADX Masanakamura)
It's an indicator designed by Welles Wilder to measure the strength and direction of the market trend. The price movement is strong when the ADX has a positive slope and is above a certain minimum level 'ADX THRESHOLD' and for a given period 'ADX LENGTH'.
The green color of the bars indicates that the trend is bullish and that the ADX is above the level established by the threshold.
The red color of the bars indicates that the trend is down and that the ADX is above the threshold level.
The orange color of the bars indicates that the price is not strong and will surely lateralize.
You can choose between the classic option and the one created by a certain 'Masanakamura'. The main difference between the two is that in the first it uses RMA () and in the second SMA () in its calculation.
4. Parabolic SAR
This indicator, also created by Welles Wilder, places points that help define a trend. The Parabolic SAR can follow the price above or below, the peculiarity that it offers is that when the price touches the indicator, it jumps to the other side of the price (if the Parabolic SAR was below the price it jumps up and vice versa) to a distance predetermined by the indicator. At this time the indicator continues to follow the price, reducing the distance with each candle until it is finally touched again by the price and the process starts again. This procedure explains the name of the indicator: the Parabolic SAR follows the price generating a characteristic parabolic shape, when the price touches it, stops and turns (SAR is the acronym for 'stop and reverse'), giving rise to a new cycle. When the points are below the price, the trend is up, while the points above the price indicate a downward trend.
5. RSI with Volume
This indicator was created by LazyBear from the popular RSI.
The RSI is an oscillator-type indicator used in technical analysis and also created by Welles Wilder that shows the strength of the price by comparing individual movements up or down in successive closing prices.
LazyBear added a volume parameter that makes it more accurate to the market movement.
A good way to use RSI is by considering the 50 'RSI CENTER LINE' centerline. When the oscillator is above, the trend is bullish and when it is below, the trend is bearish.
6. Moving Average Convergence Divergence (MACD) and (MAC-Z)
It was created by Gerald Appel. Subsequently, the histogram was added to anticipate the crossing of MA. Broadly speaking, we can say that the MACD is an oscillator consisting of two moving averages that rotate around the zero line. The MACD line is the difference between a short moving average 'MACD FAST MA LENGTH' and a long moving average 'MACD SLOW MA LENGTH'. It's an indicator that allows us to have a reference on the trend of the asset on which it is operating, thus generating market entry and exit signals.
We can talk about a bull market when the MACD histogram is above the zero line, along with the signal line, while we are talking about a bear market when the MACD histogram is below the zero line.
There is the option of using the MAC-Z indicator created by LazyBear, which according to its author is more effective, by using the parameter VWAP (volume weighted average price) 'Z-VWAP LENGTH' together with a standard deviation 'STDEV LENGTH' in its calculation.
7. Volume Condition
Volume indicates the number of participants in this war between bulls and bears, the more volume the more likely the price will move in favor of the trend. A low trading volume indicates a lower number of participants and interest in the instrument in question. Low volumes may reveal weakness behind a price movement.
With this condition, those signals whose volume is less than the volume SMA for a period 'SMA VOLUME LENGTH' multiplied by a factor 'VOLUME FACTOR' are filtered. In addition, it determines the leverage used, the more volume, the more participants, the more probability that the price will move in our favor, that is, we can use more leverage. The leverage in this script is determined by how many times the volume is above the SMA line.
The maximum leverage is 8.
8. Bollinger Bands
This indicator was created by John Bollinger and consists of three bands that are drawn superimposed on the price evolution graph.
The central band is a moving average, normally a simple moving average calculated with 20 periods is used. ('BB LENGTH' Number of periods of the moving average)
The upper band is calculated by adding the value of the simple moving average X times the standard deviation of the moving average. ('BB MULTIPLIER' Number of times the standard deviation of the moving average)
The lower band is calculated by subtracting the simple moving average X times the standard deviation of the moving average.
the band between the upper and lower bands contains, statistically, almost 90% of the possible price variations, which means that any movement of the price outside the bands has special relevance.
In practical terms, Bollinger bands behave as if they were an elastic band so that, if the price touches them, it has a high probability of bouncing.
Sometimes, after the entry order is filled, the price is returned to the opposite side. If price touch the Bollinger band in the same previous conditions, another order is filled in the same direction of the position to improve the average entry price, (% MINIMUM BETTER PRICE ': Minimum price for the re-entry to be executed and that is better than the price of the previous position in a given %) in this way we give the trade a chance that the Take Profit is executed before. The downside is that the position is doubled in size. 'ACTIVATE DIVIDE TP': Divide the size of the TP in half. More probability of the trade closing but less profit.
█ STOP LOSS and RISK MANAGEMENT.
A good risk management is what can make your equity go up or be liquidated.
The % risk is the percentage of our capital that we are willing to lose by operation. This is recommended to be between 1-5%.
% Risk: (% Stop Loss x % Equity per trade x Leverage) / 100
First the strategy is calculated with Stop Loss, then the risk per operation is determined and from there, the amount per operation is calculated and not vice versa.
In this script you can use a normal Stop Loss or one according to the ATR. Also activate the option to trigger it earlier if the risk percentage is reached. '% RISK ALLOWED' wich is calculated according with: '%EQUITY ON EACH ENTRY'. Only works with Stop Loss on 'NORMAL' or 'BOTH' mode.
'STOP LOSS CONFIRMED': The Stop Loss is only activated if the closing of the previous bar is in the loss limit condition. It's useful to prevent the SL from triggering when they do a ‘pump’ to sweep Stops and then return the price to the previous state.
█ ALERTS
There is an alert for each leverage, therefore a maximum of 8 alerts can be set for 'long' and 8 for 'short', plus an alert to close the trade with Take Profit or Stop Loss in market mode. You can also place Take Profit limit and Stop Loss limit orders a few seconds after filling the position entry order.
- 'MAXIMUM LEVERAGE': It is the maximum allowed multiplier of the % quantity entered on each entry for 1X according to the volume condition.
- 'ADVANCE ALERTS': There is always a time delay from when the alert is triggered until it reaches the exchange and can be between 1-15 seconds. With this parameter, you can advance the alert by the necessary seconds to activate it earlier. In this way it can be synchronized with the exchange so that the execution time of the entry order to the position coincides with the opening of the bar.
The settings are for Bitcoin at Binance Futures (BTC: USDTPERP) in 30 minutes.
For other pairs and other timeframes, the settings have to be adjusted again. And within a month, the settings will be different because we all know the market and the trend are changing.
█ 888 BOT (SPANISH)
Este es un Expert Advisor 'EA' o script de trading automatizado para ‘longs’ y ‘shorts’, el cual, utiliza solo un Take Profit o, en el peor de los casos, un Stop Loss para cerrar el trade.
Es una versión muy mejorada del anterior ‘Repanocha’. No utiliza ‘Trailing Stop’, ni funciones ‘security()’ (aunque usar una función security no significa que el script repinte) y todas las señales son confirmadas, por consiguiente, el script no repinta en modo alertas y es preciso en en el modo backtest.
Aparte de los anteriores indicadores se han añadido algunos más y otras funciones para Stop-Loss, de re-entrada y apalancamiento.
Utiliza 8 indicadores, (muchos ya sabéis sobradamente lo que son, pero por si hay alguien nuevo), son los siguientes:
1. Jurik Moving Average
Es una media móvil creada por Mark Jurik para profesionales la cual elimina el ‘lag’ o retardo de la señal. Es mejor que otras medias móviles como la EMA, DEMA, AMA o T3.
Hay dos formas de disminuir el ruido utilizando JMA. El aumento del parámetro 'LENGTH' hará que JMA se mueva más lentamente y, por lo tanto, reducirá el ruido a expensas de añadir ‘lag’
Los parámetros 'JMA LENGTH', 'PHASE' y 'POWER' ofrecen una forma de seleccionar el equilibrio óptimo entre ‘lag’ y sobre impulso.
Verde : Alcista, Rojo: Bajista.
2. Range filter
Creado por Donovan Wall, su función es la de filtrar o eliminar el ruido y poder determinar mejor la tendencia del precio a corto plazo.
Primero, se calcula un rango de precio promedio uniforme 'SAMPLING PERIOD' para la base del filtro y se multiplica por una cantidad específica 'RANGE MULTIPLIER'.
A continuación, el filtro se calcula ajustando los movimientos de precios que no exceden el rango especificado.
Por último, los rangos objetivo se trazan para mostrar los precios que activarán el movimiento del filtro.
Verde : Alcista, Rojo: Bajista.
3. Average Directional Index (ADX Classic) y (ADX Masanakamura)
Es un indicador diseñado por Welles Wilder para medir la fuerza y dirección de la tendencia del mercado. El movimiento del precio tiene fuerza cuando el ADX tiene pendiente positiva y está por encima de cierto nivel mínimo 'ADX THRESHOLD' y para un periodo dado 'ADX LENGTH'.
El color verde de las barras indica que la tendencia es alcista y que el ADX está por encima del nivel establecido por el threshold.
El color Rojo de las barras indica que la tendencia es bajista y que el ADX está por encima del nivel de threshold.
El color naranja de las barras indica que el precio no tiene fuerza y seguramente lateralizará.
Se puede elegir entre la opción clásica y la creada por un tal 'Masanakamura'. La diferencia principal entre los dos es que en el primero utiliza RMA() y en el segundo SMA() en su cálculo.
4. Parabolic SAR
Este indicador, creado también por Welles Wilder, coloca puntos que ayudan a definir una tendencia. El Parabolic SAR puede seguir al precio por encima o por debajo, la particularidad que ofrece es que cuando el precio toca al indicador, este salta al otro lado del precio (si el Parabolic SAR estaba por debajo del precio salta arriba y viceversa) a una distancia predeterminada por el indicador. En este momento el indicador vuelve a seguir al precio, reduciendo la distancia con cada vela hasta que finalmente es tocado otra vez por el precio y se vuelve a iniciar el proceso. Este procedimiento explica el nombre del indicador: el Parabolic SAR va siguiendo al precio generando una característica forma parabólica, cuando el precio lo toca, se para y da la vuelta (SAR son las siglas en inglés de ‘stop and reverse’), dando lugar a un nuevo ciclo. Cuando los puntos están por debajo del precio, la tendencia es alcista, mientras que los puntos por encima del precio indica una tendencia bajista.
5. RSI with Volume
Este indicador lo creo un tal LazyBear de TV a partir del popular RSI.
El RSI es un indicador tipo oscilador utilizado en análisis técnico y creado también por Welles Wilder que muestra la fuerza del precio mediante la comparación de los movimientos individuales al alza o a la baja de los sucesivos precios de cierre.
LazyBear le añadió un parámetro de volumen que lo hace más preciso al movimiento del mercado.
Una buena forma de usar el RSI es teniendo en cuenta la línea central de 50 'RSI CENTER LINE'. Cuando el oscilador está por encima, la tendencia es alcista y cuando está por debajo la tendencia es bajista.
6. Moving Average Convergence Divergence (MACD) y (MAC-Z)
Fue creado por Gerald Appel. Posteriormente se añadió el histograma para anticipar el cruce de medias. A grandes rasgos podemos decir que el MACD es un oscilador consistente en dos medias móviles que van girando en torno a la línea de cero. La línea del MACD no es más que la diferencia entre una media móvil corta 'MACD FAST MA LENGTH' y una media móvil larga 'MACD SLOW MA LENGTH'. Es un indicador que nos permite tener una referencia sobre la tendencia del activo sobre el cual se está operando, generando de este modo señales de entrada y salida del mercado.
Podemos hablar de mercado alcista cuando el histograma del MACD se sitúe por encima de la línea cero, junto con la línea de señal, mientras que hablaremos de mercado bajista cuando el histograma MACD se situará por debajo de la línea cero.
Está la opción de utilizar el indicador MAC-Z creado por LazyBear que según su autor es más eficaz, por utilizar el parámetro VWAP (precio medio ponderado por volumen) 'Z-VWAP LENGTH' junto con una desviación standard 'STDEV LENGTH' en su cálculo.
7. Volume Condition
El volumen indica el número de participantes en esta guerra entre toros y osos, cuanto más volumen más probabilidad de que se mueva el precio a favor de la tendencia. Un volumen bajo de negociación indica un menor número de participantes e interés por el instrumento en cuestión. Los bajos volúmenes pueden revelar debilidad detrás de un movimiento de precios.
Con esta condición se filtran aquellas señales cuyo volumen es inferior a la SMA de volumen para un periodo 'SMA VOLUME LENGTH' multiplicado por un factor 'VOLUME FACTOR'. Además, determina el apalancamiento utilizado, a más volumen, más participantes, más probabilidad de que se mueva el precio a nuestro favor, es decir, podemos utilizar más apalancamiento. El apalancamiento en este script lo determina las veces que está el volumen por encima de la línea de la SMA.
El apalancamiento máximo es de 8.
8. Bollinger Bands
Este indicador fue creado por John Bollinger y consiste en tres bandas que se dibujan superpuestas al gráfico de evolución del precio.
La banda central es una media móvil, normalmente se emplea una media móvil simple calculada con 20 períodos. ('BB LENGTH' Número de periodos de la media móvil)
La banda superior se calcula sumando al valor de la media móvil simple X veces la desviación típica de la media móvil. ('BB MULTIPLIER' Número de veces la desviación típica de la media móvil)
La banda inferior de calcula restando a la media móvil simple X veces la desviación típica de la media móvil.
la franja comprendida entre las bandas superior e inferior contiene, estadísticamente, casi un 90% de las posibles variaciones del precio, lo que significa que cualquier movimiento del precio fuera de las bandas tiene especial relevancia.
En términos prácticos, las bandas de Bollinguer se comporta como si de una banda elástica se tratara de manera que, si el precio las toca, éste tiene mucha probabilidad de rebotar.
En ocasiones, después de rellenarse la orden de entrada, el precio se devuelve hacia el lado contrario. Si toca la banda de Bollinger se rellena otra orden en la misma dirección de la posición para mejorar el precio medio de entrada, (% MINIMUM BETTER PRICE': Precio mínimo para que se ejecute la re-entrada y que sea mejor que el precio de la posición anterior en un % dado) de esta manera damos una oportunidad al trade de que el Take Profit se ejecute antes. La desventaja es que se dobla el tamaño de la posición. 'ACTIVATE DIVIDE TP': Divide el tamaño del TP a la mitad. Más probabilidad de que se cierre el trade pero menos ganancias.
█ STOP LOSS y RISK MANAGEMENT.
Una buena gestión de las pérdidas o gestión del riesgo es lo que puede hacer que tu cuenta suba o se liquide en poco tiempo.
El % de riesgo es el porcentaje de nuestro capital que estamos dispuestos a perder por operación. Este se aconseja que debe estar comprendido entre un 1-5%.
% Risk = (% Stop Loss x % Equity per trade x Leverage) / 100
Primero se calcula la estrategia con Stop Loss, después se determina el riesgo por operación y a partir de ahí se calcula el monto por operación y no al revés.
En este script puedes usar un Stop Loss normal o uno según el ATR. También activar la opción de que salte antes si se alcanza el porcentaje de riesgo. '% RISK ALLOWED' que se calcula según el porcentaje de tu capital para 1X '% EQUITY ON EACH ENTRY'.
'STOP LOSS CONFIRMED': Solamente se activa el Stop Loss si el cierre de la barra anterior se encuentra en la condición de límite de pérdidas. Es útil para evitar que se dispare el SL cuando hacen un ‘pump’ para barrer Stops y luego se devuelve el precio a la normalidad.
█ ALERTAS
Hay una alerta por cada apalancamiento por consiguiente como máximo se pueden poner 8 alertas para 'long' y 8 para 'short', más una alerta para cerrar el trade con Take Profit o Stop Loss en modo market. Tambien puedes colocar las ordenes Take Profit limit y Stop Loss limit unos segundos despues de rellenar la orden de entrada de la posición.
- 'MAXIMUM LEVERAGE': Es el máximo multiplicador permitido de la cantidad introducida para 1X según la condición de volumen.
- 'ADVANCE ALERTS': Siempre existe un retardo de tiempo desde que se activa la alerta hasta que llega al exchange y que puede ser de entre 1-15 segundos. Con este párametro se puede adelantar la alerta los segundos necesarios para que se active antes. De este modo se puede sincronizar con el exchange para que el tiempo de ejecución de la orden de entrada a la posición coincida con la de apertura de la barra.
Los settings son para Bitcoin en Binance Futures (BTC:USDTPERP) en 30 minutos.
Para otro pares y otras temporalidades se tienen que ajustar las opciones de nuevo. Además para dentro de un mes, los ajustes serán otros distintos ya que el mercado y la tendencia es cambiante.
888 BOT #backtest█ 888 BOT #backtest
This is an Expert Advisor 'EA' or Automated trading script for ‘longs’ and ‘shorts’, which uses only a Take Profit or, in the worst case, a Stop Loss to close the trade.
It's a much improved version of the previous ‘Repanocha’. It doesn`t use 'Trailing Stop' or 'security()' functions (although using a security function doesn`t mean that the script repaints) and all signals are confirmed, therefore the script doesn`t repaint in alert mode and is accurate in backtest mode.
Apart from the previous indicators, some more and other functions have been added for Stop-Loss, re-entry and leverage.
It uses 8 indicators, (many of you already know what they are, but in case there is someone new), these are the following:
1. Jurik Moving Average
It's a moving average created by Mark Jurik for professionals which eliminates the 'lag' or delay of the signal. It's better than other moving averages like EMA, DEMA, AMA or T3.
There are two ways to decrease noise using JMA. Increasing the 'LENGTH' parameter will cause JMA to move more slowly and therefore reduce noise at the expense of adding 'lag'
The 'JMA LENGTH', 'PHASE' and 'POWER' parameters offer a way to select the optimal balance between 'lag' and over boost.
Green: Bullish, Red: Bearish.
2. Range filter
Created by Donovan Wall, its function is to filter or eliminate noise and to better determine the price trend in the short term.
First, a uniform average price range 'SAMPLING PERIOD' is calculated for the filter base and multiplied by a specific quantity 'RANGE MULTIPLIER'.
The filter is then calculated by adjusting price movements that do not exceed the specified range.
Finally, the target ranges are plotted to show the prices that will trigger the filter movement.
Green: Bullish, Red: Bearish.
3. Average Directional Index (ADX Classic) and (ADX Masanakamura)
It's an indicator designed by Welles Wilder to measure the strength and direction of the market trend. The price movement is strong when the ADX has a positive slope and is above a certain minimum level 'ADX THRESHOLD' and for a given period 'ADX LENGTH'.
The green color of the bars indicates that the trend is bullish and that the ADX is above the level established by the threshold.
The red color of the bars indicates that the trend is down and that the ADX is above the threshold level.
The orange color of the bars indicates that the price is not strong and will surely lateralize.
You can choose between the classic option and the one created by a certain 'Masanakamura'. The main difference between the two is that in the first it uses RMA () and in the second SMA () in its calculation.
4. Parabolic SAR
This indicator, also created by Welles Wilder, places points that help define a trend. The Parabolic SAR can follow the price above or below, the peculiarity that it offers is that when the price touches the indicator, it jumps to the other side of the price (if the Parabolic SAR was below the price it jumps up and vice versa) to a distance predetermined by the indicator. At this time the indicator continues to follow the price, reducing the distance with each candle until it is finally touched again by the price and the process starts again. This procedure explains the name of the indicator: the Parabolic SAR follows the price generating a characteristic parabolic shape, when the price touches it, stops and turns (SAR is the acronym for 'stop and reverse'), giving rise to a new cycle. When the points are below the price, the trend is up, while the points above the price indicate a downward trend.
5. RSI with Volume
This indicator was created by LazyBear from the popular RSI.
The RSI is an oscillator-type indicator used in technical analysis and also created by Welles Wilder that shows the strength of the price by comparing individual movements up or down in successive closing prices.
LazyBear added a volume parameter that makes it more accurate to the market movement.
A good way to use RSI is by considering the 50 'RSI CENTER LINE' centerline. When the oscillator is above, the trend is bullish and when it is below, the trend is bearish.
6. Moving Average Convergence Divergence (MACD) and (MAC-Z)
It was created by Gerald Appel. Subsequently, the histogram was added to anticipate the crossing of MA. Broadly speaking, we can say that the MACD is an oscillator consisting of two moving averages that rotate around the zero line. The MACD line is the difference between a short moving average 'MACD FAST MA LENGTH' and a long moving average 'MACD SLOW MA LENGTH'. It's an indicator that allows us to have a reference on the trend of the asset on which it is operating, thus generating market entry and exit signals.
We can talk about a bull market when the MACD histogram is above the zero line, along with the signal line, while we are talking about a bear market when the MACD histogram is below the zero line.
There is the option of using the MAC-Z indicator created by LazyBear, which according to its author is more effective, by using the parameter VWAP (volume weighted average price) 'Z-VWAP LENGTH' together with a standard deviation 'STDEV LENGTH' in its calculation.
7. Volume Condition
Volume indicates the number of participants in this war between bulls and bears, the more volume the more likely the price will move in favor of the trend. A low trading volume indicates a lower number of participants and interest in the instrument in question. Low volumes may reveal weakness behind a price movement.
With this condition, those signals whose volume is less than the volume SMA for a period 'SMA VOLUME LENGTH' multiplied by a factor 'VOLUME FACTOR' are filtered. In addition, it determines the leverage used, the more volume, the more participants, the more probability that the price will move in our favor, that is, we can use more leverage. The leverage in this script is determined by how many times the volume is above the SMA line.
The maximum leverage is 8.
8. Bollinger Bands
This indicator was created by John Bollinger and consists of three bands that are drawn superimposed on the price evolution graph.
The central band is a moving average, normally a simple moving average calculated with 20 periods is used. ('BB LENGTH' Number of periods of the moving average)
The upper band is calculated by adding the value of the simple moving average X times the standard deviation of the moving average. ('BB MULTIPLIER' Number of times the standard deviation of the moving average)
The lower band is calculated by subtracting the simple moving average X times the standard deviation of the moving average.
the band between the upper and lower bands contains, statistically, almost 90% of the possible price variations, which means that any movement of the price outside the bands has special relevance.
In practical terms, Bollinger bands behave as if they were an elastic band so that, if the price touches them, it has a high probability of bouncing.
Sometimes, after the entry order is filled, the price is returned to the opposite side. If price touch the Bollinger band in the same previous conditions, another order is filled in the same direction of the position to improve the average entry price, (% MINIMUM BETTER PRICE ': Minimum price for the re-entry to be executed and that is better than the price of the previous position in a given %) in this way we give the trade a chance that the Take Profit is executed before. The downside is that the position is doubled in size. 'ACTIVATE DIVIDE TP': Divide the size of the TP in half. More probability of the trade closing but less profit.
█ STOP LOSS and RISK MANAGEMENT.
A good risk management is what can make your equity go up or be liquidated.
The % risk is the percentage of our capital that we are willing to lose by operation. This is recommended to be between 1-5%.
% Risk: (% Stop Loss x % Equity per trade x Leverage) / 100
First the strategy is calculated with Stop Loss, then the risk per operation is determined and from there, the amount per operation is calculated and not vice versa.
In this script you can use a normal Stop Loss or one according to the ATR. Also activate the option to trigger it earlier if the risk percentage is reached. '% RISK ALLOWED'
'STOP LOSS CONFIRMED': The Stop Loss is only activated if the closing of the previous bar is in the loss limit condition. It's useful to prevent the SL from triggering when they do a ‘pump’ to sweep Stops and then return the price to the previous state.
█ BACKTEST
The objective of the Backtest is to evaluate the effectiveness of our strategy. A good Backtest is determined by some parameters such as:
- RECOVERY FACTOR: It consists of dividing the 'net profit' by the 'drawdown’. An excellent trading system has a recovery factor of 10 or more; that is, it generates 10 times more net profit than drawdown.
- PROFIT FACTOR: The ‘Profit Factor’ is another popular measure of system performance. It's as simple as dividing what win trades earn by what loser trades lose. If the strategy is profitable then by definition the 'Profit Factor' is going to be greater than 1. Strategies that are not profitable produce profit factors less than one. A good system has a profit factor of 2 or more. The good thing about the ‘Profit Factor’ is that it tells us what we are going to earn for each dollar we lose. A profit factor of 2.5 tells us that for every dollar we lose operating we will earn 2.5.
- SHARPE: (Return system - Return without risk) / Deviation of returns.
When the variations of gains and losses are very high, the deviation is very high and that leads to a very poor ‘Sharpe’ ratio. If the operations are very close to the average (little deviation) the result is a fairly high 'Sharpe' ratio. If a strategy has a 'Sharpe' ratio greater than 1 it is a good strategy. If it has a 'Sharpe' ratio greater than 2, it is excellent. If it has a ‘Sharpe’ ratio less than 1 then we don't know if it is good or bad, we have to look at other parameters.
- MATHEMATICAL EXPECTATION: (% winning trades X average profit) + (% losing trades X average loss).
To earn money with a Trading system, it is not necessary to win all the operations, what is really important is the final result of the operation. A Trading system has to have positive mathematical expectation as is the case with this script: ME = (0.87 x 30.74$) - (0.13 x 56.16$) = (26.74 - 7.30) = 19.44$ > 0
The game of roulette, for example, has negative mathematical expectation for the player, it can have positive winning streaks, but in the long term, if you continue playing you will end up losing, and casinos know this very well.
PARAMETERS
'BACKTEST DAYS': Number of days back of historical data for the calculation of the Backtest.
'ENTRY TYPE': For '% EQUITY' if you have $ 10,000 of capital and select 7.5%, for example, your entry would be $ 750 without leverage. If you select CONTRACTS for the 'BTCUSDT' pair, for example, it would be the amount in 'Bitcoins' and if you select 'CASH' it would be the amount in $ dollars.
'QUANTITY (LEVERAGE 1X)': The amount for an entry with X1 leverage according to the previous section.
'MAXIMUM LEVERAGE': It's the maximum allowed multiplier of the quantity entered in the previous section according to the volume condition.
The settings are for Bitcoin at Binance Futures (BTC: USDTPERP) in 30 minutes.
For other pairs and other timeframes, the settings have to be adjusted again. And within a month, the settings will be different because we all know the market and the trend are changing.
█ 888 BOT (SPANISH)
Este es un Expert Advisor 'EA' o script de trading automatizado para ‘longs’ y ‘shorts’, el cual, utiliza solo un Take Profit o, en el peor de los casos, un Stop Loss para cerrar el trade.
Es una versión muy mejorada del anterior ‘Repanocha’. No utiliza ‘Trailing Stop’, ni funciones ‘security()’ (aunque usar una función security no significa que el script repinte) y todas las señales son confirmadas, por consiguiente, el script no repinta en modo alertas y es preciso en en el modo backtest.
Aparte de los anteriores indicadores se han añadido algunos más y otras funciones para Stop-Loss, de re-entrada y apalancamiento.
Utiliza 8 indicadores, (muchos ya sabéis sobradamente lo que son, pero por si hay alguien nuevo), son los siguientes:
1. Jurik Moving Average
Es una media móvil creada por Mark Jurik para profesionales la cual elimina el ‘lag’ o retardo de la señal. Es mejor que otras medias móviles como la EMA, DEMA, AMA o T3.
Hay dos formas de disminuir el ruido utilizando JMA. El aumento del parámetro 'LENGTH' hará que JMA se mueva más lentamente y, por lo tanto, reducirá el ruido a expensas de añadir ‘lag’
Los parámetros 'JMA LENGTH', 'PHASE' y 'POWER' ofrecen una forma de seleccionar el equilibrio óptimo entre ‘lag’ y sobre impulso.
Verde : Alcista, Rojo: Bajista.
2. Range filter
Creado por Donovan Wall, su función es la de filtrar o eliminar el ruido y poder determinar mejor la tendencia del precio a corto plazo.
Primero, se calcula un rango de precio promedio uniforme 'SAMPLING PERIOD' para la base del filtro y se multiplica por una cantidad específica 'RANGE MULTIPLIER'.
A continuación, el filtro se calcula ajustando los movimientos de precios que no exceden el rango especificado.
Por último, los rangos objetivo se trazan para mostrar los precios que activarán el movimiento del filtro.
Verde : Alcista, Rojo: Bajista.
3. Average Directional Index (ADX Classic) y (ADX Masanakamura)
Es un indicador diseñado por Welles Wilder para medir la fuerza y dirección de la tendencia del mercado. El movimiento del precio tiene fuerza cuando el ADX tiene pendiente positiva y está por encima de cierto nivel mínimo 'ADX THRESHOLD' y para un periodo dado 'ADX LENGTH'.
El color verde de las barras indica que la tendencia es alcista y que el ADX está por encima del nivel establecido por el threshold.
El color Rojo de las barras indica que la tendencia es bajista y que el ADX está por encima del nivel de threshold.
El color naranja de las barras indica que el precio no tiene fuerza y seguramente lateralizará.
Se puede elegir entre la opción clásica y la creada por un tal 'Masanakamura'. La diferencia principal entre los dos es que en el primero utiliza RMA() y en el segundo SMA() en su cálculo.
4. Parabolic SAR
Este indicador, creado también por Welles Wilder, coloca puntos que ayudan a definir una tendencia. El Parabolic SAR puede seguir al precio por encima o por debajo, la particularidad que ofrece es que cuando el precio toca al indicador, este salta al otro lado del precio (si el Parabolic SAR estaba por debajo del precio salta arriba y viceversa) a una distancia predeterminada por el indicador. En este momento el indicador vuelve a seguir al precio, reduciendo la distancia con cada vela hasta que finalmente es tocado otra vez por el precio y se vuelve a iniciar el proceso. Este procedimiento explica el nombre del indicador: el Parabolic SAR va siguiendo al precio generando una característica forma parabólica, cuando el precio lo toca, se para y da la vuelta (SAR son las siglas en inglés de ‘stop and reverse’), dando lugar a un nuevo ciclo. Cuando los puntos están por debajo del precio, la tendencia es alcista, mientras que los puntos por encima del precio indica una tendencia bajista.
5. RSI with Volume
Este indicador lo creo un tal LazyBear de TV a partir del popular RSI.
El RSI es un indicador tipo oscilador utilizado en análisis técnico y creado también por Welles Wilder que muestra la fuerza del precio mediante la comparación de los movimientos individuales al alza o a la baja de los sucesivos precios de cierre.
LazyBear le añadió un parámetro de volumen que lo hace más preciso al movimiento del mercado.
Una buena forma de usar el RSI es teniendo en cuenta la línea central de 50 'RSI CENTER LINE'. Cuando el oscilador está por encima, la tendencia es alcista y cuando está por debajo la tendencia es bajista.
6. Moving Average Convergence Divergence (MACD) y (MAC-Z)
Fue creado por Gerald Appel. Posteriormente se añadió el histograma para anticipar el cruce de medias. A grandes rasgos podemos decir que el MACD es un oscilador consistente en dos medias móviles que van girando en torno a la línea de cero. La línea del MACD no es más que la diferencia entre una media móvil corta 'MACD FAST MA LENGTH' y una media móvil larga 'MACD SLOW MA LENGTH'. Es un indicador que nos permite tener una referencia sobre la tendencia del activo sobre el cual se está operando, generando de este modo señales de entrada y salida del mercado.
Podemos hablar de mercado alcista cuando el histograma del MACD se sitúe por encima de la línea cero, junto con la línea de señal, mientras que hablaremos de mercado bajista cuando el histograma MACD se situará por debajo de la línea cero.
Está la opción de utilizar el indicador MAC-Z creado por LazyBear que según su autor es más eficaz, por utilizar el parámetro VWAP (precio medio ponderado por volumen) 'Z-VWAP LENGTH' junto con una desviación standard 'STDEV LENGTH' en su cálculo.
7. Volume Condition
El volumen indica el número de participantes en esta guerra entre toros y osos, cuanto más volumen más probabilidad de que se mueva el precio a favor de la tendencia. Un volumen bajo de negociación indica un menor número de participantes e interés por el instrumento en cuestión. Los bajos volúmenes pueden revelar debilidad detrás de un movimiento de precios.
Con esta condición se filtran aquellas señales cuyo volumen es inferior a la SMA de volumen para un periodo 'SMA VOLUME LENGTH' multiplicado por un factor 'VOLUME FACTOR'. Además, determina el apalancamiento utilizado, a más volumen, más participantes, más probabilidad de que se mueva el precio a nuestro favor, es decir, podemos utilizar más apalancamiento. El apalancamiento en este script lo determina las veces que está el volumen por encima de la línea de la SMA.
El apalancamiento máximo es de 8.
8. Bollinger Bands
Este indicador fue creado por John Bollinger y consiste en tres bandas que se dibujan superpuestas al gráfico de evolución del precio.
La banda central es una media móvil, normalmente se emplea una media móvil simple calculada con 20 períodos. ('BB LENGTH' Número de periodos de la media móvil)
La banda superior se calcula sumando al valor de la media móvil simple X veces la desviación típica de la media móvil. ('BB MULTIPLIER' Número de veces la desviación típica de la media móvil)
La banda inferior de calcula restando a la media móvil simple X veces la desviación típica de la media móvil.
la franja comprendida entre las bandas superior e inferior contiene, estadísticamente, casi un 90% de las posibles variaciones del precio, lo que significa que cualquier movimiento del precio fuera de las bandas tiene especial relevancia.
En términos prácticos, las bandas de Bollinger se comporta como si de una banda elástica se tratara de manera que, si el precio las toca, éste tiene mucha probabilidad de rebotar.
En ocasiones, después de rellenarse la orden de entrada, el precio se devuelve hacia el lado contrario. Si toca la banda de Bollinger se rellena otra orden en la misma dirección de la posición para mejorar el precio medio de entrada, (% MINIMUM BETTER PRICE': Precio mínimo para que se ejecute la re-entrada y que sea mejor que el precio de la posición anterior en un % dado) de esta manera damos una oportunidad al trade de que el Take Profit se ejecute antes. La desventaja es que se dobla el tamaño de la posición. 'ACTIVATE DIVIDE TP': Divide el tamaño del TP a la mitad. Más probabilidad de que se cierre el trade pero menos ganancias.
█ STOP LOSS y RISK MANAGEMENT.
Una buena gestión de las pérdidas o gestión del riesgo es lo que puede hacer que tu cuenta suba o se liquide en poco tiempo.
El % de riesgo es el porcentaje de nuestro capital que estamos dispuestos a perder por operación. Este se aconseja que debe estar comprendido entre un 1-5%.
% Risk = (% Stop Loss x % Equity per trade x Leverage) / 100
Primero se calcula la estrategia con Stop Loss, después se determina el riesgo por operación y a partir de ahí se calcula el monto por operación y no al revés.
En este script puedes usar un Stop Loss normal o uno según el ATR. También activar la opción de que salte antes si se alcanza el porcentaje de riesgo. '% RISK ALLOWED'
'STOP LOSS CONFIRMED': Solamente se activa el Stop Loss si el cierre de la barra anterior se encuentra en la condición de límite de pérdidas. Es útil para evitar que se dispare el SL cuando hacen un ‘pump’ para barrer Stops y luego se devuelve el precio a la normalidad.
█ BACKTEST
El objetivo del Backtest es evaluar la eficacia de nuestra estrategia. Un buen Backtest lo determinan algunos parámetros como son:
- RECOVERY FACTOR: Consiste en dividir el ‘beneficio neto’ entre el ‘drawdown’. Un excelente sistema de trading tiene un recovery factor de 10 o más; es decir, genera 10 veces más beneficio neto que drawdown.
- PROFIT FACTOR: El ‘Profit Factor’ es otra medida popular del rendimiento de un sistema. Es algo tan simple como dividir lo que ganan las operaciones con ganancias entre lo que pierden las operaciones con pérdidas. Si la estrategia es rentable entonces por definición el ‘Profit Factor’ va a ser mayor que 1. Las estrategias que no son rentables producen factores de beneficio menores que uno. Un buen sistema tiene un profit factor de 2 o más. Lo bueno del ‘Profit Factor’ es que nos dice lo que vamos a ganar por cada dolar que perdemos. Un profit factor de 2.5 nos dice que por cada dolar que perdamos operando vamos a ganar 2.5.
- SHARPE: (Retorno sistema – Retorno sin riesgo) / Desviación de los retornos.
Cuando las variaciones de ganancias y pérdidas son muy altas, la desviación es muy elevada y eso conlleva un ratio de ‘Sharpe’ muy pobre. Si las operaciones están muy cerca de la media (poca desviación) el resultado es un ratio de ‘Sharpe’ bastante elevado. Si una estrategia tiene un ratio de ‘Sharpe’ mayor que 1 es una buena estrategia. Si tiene un ratio de ‘Sharpe’ mayor que 2, es excelente. Si tiene un ratio de ‘Sharpe’ menor que 1 entonces no sabemos si es buena o mala, hay que mirar otros parámetros.
- MATHEMATICAL EXPECTATION:(% operaciones ganadoras X ganancia media) + (% operaciones perdedoras X pérdida media).
Para ganar dinero con un sistema de Trading, no es necesario ganar todas las operaciones, lo verdaderamente importante es el resultado final de la operativa. Un sistema de Trading tiene que tener esperanza matemática positiva como es el caso de este script.
El juego de la ruleta, por ejemplo, tiene esperanza matemática negativa para el jugador, puede tener rachas positivas de ganancias, pero a la larga, si se sigue jugando se acabará perdiendo, y esto los casinos lo saben muy bien.
PARAMETROS
'BACKTEST DAYS': Número de días atrás de datos históricos para el calculo del Backtest.
'ENTRY TYPE': Para % EQUITY si tienes 10000$ de capital y seleccionas 7.5% tu entrada sería de 750$ sin apalancamiento. Si seleccionas CONTRACTS para el par BTCUSDT sería la cantidad en Bitcoins y si seleccionas CASH sería la cantidad en dólares.
'QUANTITY (LEVERAGE 1X)': La cantidad para una entrada con apalancamiento X! según el apartado anterior.
'MAXIMUM LEVERAGE': Es el máximo multiplicador permitido de la cantidad introducida en el apartado anterior según la condición de volumen.
Los settings son para Bitcoin en Binance Futures (BTC:USDTPERP) en 30 minutos.
Para otro pares y otras temporalidades se tienen que ajustar las opciones de nuevo. Además para dentro de un mes, los ajustes serán otros distintos ya que el mercado y la tendencia es cambiante.
Chart Mojo Neutral Unwound CloudPlots days high/low and the Chart Mojo neutral cloud, the zone between vwap and 50% range. A secondary gravity right behind the opening 1 min range. The gray crosses are the vwap the gold dots are 50% of developing range. The shaded area between vwap and 50% range is the Chart Mojo cloud...I think of it as traders from the open tend to unwind to it many times a day. More returns on a trend day but you will see urges toward it on trend days. Price tends to urge to it ahead of 10:30 session "1" and 1:15 Session 2. If you get used to watching it and its relationship to price and the opening 1 min range you should start to see tendencies as to when price unwinds toward it.. etc. Where price is in relation to the cloud and the clouds relationship to the opening 1 min range can reveal real time bias. You will being to see, upon observation how traders target the vwap and 50% with target tier of buys and sells etc. Often unwinds to the zones gravity. It takes force or a catalyst to break the gravity. I use it in conjuction with Time Zone theory and Wave and Pattern force...and look to leading correlating hi beta movers and internals like tick and new streaming highs-new straming lows to get jump on what you see on a big etf or index etc. If you intraday tendencies the neutral is very helpful.
