Murreys Math Lines Box OR Ratio PivotsI'm publishing my second script, though nothing extraordinary, I believe there is user group for Murry Math indies and the only "proper one" (According to my usage) I found was of RicardoSantos, here is the link :
He developed that script in 2014 and it is in need of update to Pine V4 and I'm doing the needful as its user.
All the updates from my end are listed below:
1. Updated to Pine V4
2. Automatic octave selection
3. In auto mode one can switch octave
4. This script is color coded with intention of use on dark theme, one can change the colors to use it on white background with simple few clicks as pinelines have been used
Other thing I want to add is that usage of this is not very clear to many users, so I'll do little explaining here;
Lets start with what is Octave? Octave is basically distance between square of two whole numbers, this is hard-fast method to calculate, Murry has made it far more complicated to use practically. In mathematical formula terms it could be something like this for script trading at 11890 (CMP)
Step 1: Square Root of CMP i.e Square Root of 11890 = 109.041 = Rounded to 109
Step 2: You can either take one whole number higher or lower than 109, which is 108 or 110. We will take 108
Step 3: Square of 108 = 11664 and Square of 109 = 11881
Step 4: Octave => Distance between (Lowlevel) 11664 and (Higherlevel) 11881
I've automated it so you don't need to calculate, but there is also manual entry possible if you want to calculate octaves yourself, there are different ways to calculate and some like to just take High and Low's of the day or week or month, whatever you like. When I used it I did it strictly this way, so automation is based on it. This is very subjective matter so don't ask to change the calculation of this, if I started doing that every second person would ask me to modify it to different calculation..and thats...just not possible to do.
This is output for calculation we just did above
This is octave shift option (Which basically shifts to next whole number square in above calculation)
Normal nomenclature on octaves and important color codes
+2/8: Extreme overbought = Blue Color and solid line
+1/8: OverBought
8/8: Hardest line to rise above (overbought) = White Color and solid line
7/8: Fast reverse line (weak)
6/8: Pivot reverse line = Yellow Color and solid line
5/8: Upper trading range
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4/8: Major reversal line = Green Color and solid line
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3/8: Lower trading range
2/8: Pivot reverse line = Blue Color and solid line
1/8: Fast reverse line (weak)
0/8: Hardest line to fall below (oversold) = White Color and solid line
-1/8: Oversold
-2/8: Extreme Oversold = Yellow Color and solid line
Other lines that I've not mentioned color codes for are minor and are usually plotted in dotted format.
Resources on complete technique to trade and importance of levels (highly recommended to read carefully before trading), if you don't know how to get this for free don't worry you can just google Murrey math and you will find it somewhere, its just that it would be in little scattered manner.
www.scribd.com
Enjoy!
BOX
IZS - Intelligent Zone SelectorEnglish:
Better in volatile stocks, may fail in low volume. Aims to select safe zones to hold and stop in any danger. However, you are responsible for any loss
Türkçe:
Volatil hisselerde daha iyi çalışır, düşük hacimlerde başarısız olabilir. Hisse taşımak için güvenli bölgeyi seçmek ve herhangi bir tehlikede stoplamayı amaçlar. Ancak oluşabilecek zararlardan herkes kendisi sorumludur.
Unit Renko Box SizeThis is a simple script that shows two averages for box size on Uni Renko system for users to use.
The user should use the green line (Box Size) that is more persistent in the last hour. if there are equal minutes between two numbers, use the upper number.
Now users can easily check the timed candle sticks at the start of the day for three time frames we use in my methodology, set the box size for the charts at the start of the day and continue trading the whole day.
The charts now will sit on "traditional" setting rather than previously used "atr", no thanks to trading view's amazingly wrong way of calculating renko !!!!
Historical Point and Figure BoxesThis indicator plots the last filled/completed Point and Figure block, overlaid onto any regular candles chart, for every historical candle.
The Pine security(pointfigure(...)...) function inappropriately associates the timestamps of both the "open" (start of column) and "close" (end of column) with the time at which the terminal reversal took place, which leads to invalid overlays when plotted over top of regular candles charts, regardless of barmerge.lookahead_on/off. This script solves that problem and plots each brick at the time it was confirmed.
V24: Released.
Percentile Trend Channel [DW]This is an experimental study designed to identify the trend of price action over a specified period using percentiles.
First, the 50th percentile is calculated over the sampling period using the nearest rank method. I've found that this calculation is useful as a proxy for moving averages and other filters of that class.
Next, the channel levels are calculated. In this study, there are three channel methods to choose from:
-Percentile Donchian, which calculates Donchian Channels using the 100th and 0th percentile ranks
-Percentile Keltner, which calculates the 50th percentile true range multiplied by a specified amount, then adds it to and subtracts it from the 50th percentile
-Percentile Bollinger, which calculates 50th percentile standard deviation multiplied by a specified amount, then adds it to and subtracts it from the 50th percentile
I also included a squeeze box option within this script, which is derived from my original Squeeze Box tool.
This option detects squeezes in the specified channel's range by a specific percentage, and plots the channel values where the squeeze begins.
The box also has a range multiplier, which can be used to expand or contract its range.
Custom bar colors are included. The color scheme is based on the perceived trend over the specified sampling period.
BoxArrowsBefore starting the description,I used translate because I have to write script descriptions in English due to rule of Tradingview. Even though English is poor, I would appreciate it if you would look at the context and understand it.
This is an indicator that displays arrows at low and high points in the chart of box segments
(박스 구간의 차트에서 저점과 고점에 화살표를 띄워주는 지표입니다)
Sometimes the movement of candles in the chart breaks away from the box and make a trend
Sometimes it moves forming the box
(차트안에서 캔들이 박스를 깨고 추세를 이루는경우도 있고 박스권을 형성하며 움직이는경우가 있습니다)
This indicator is intended for use in the box region, not in the trend.
(이 지표는 추세구간이아니라 박스권에서 사용하도록 만들어져있습니다)
There are red, blue, and black arrows.
(빨강,파랑,검은색의 화살표가 있습니다)
red arrow is buy signal, blue arrow is sell signal. black arrow is more sensitive signal.
(빨간화살표는 매수신호, 파랑화살표는 매도신호. 검은색은 더 예민한 신호입니다)
Usually buy the red arrow, sell it on the opposite arrow, sell it on the blue arrow, and buy it on the opposite arrow.
(일반적으로 빨강화살표에 매수하여 반대모양의 화살표에 매도하고, 파랑화살표에 매도하여 반대화살표에 매수합니다)
These indicators are supportive. To be succes invest, it require the skills and know-how to user
(이 지표는 보조해주는 역할이고,성공적인 매매를 위해서는 사용자의 실력과 노하우를 필요로 합니다)
Let me show you some know-how as an example of the method I use.
(제가 사용하는방법을 예시로 몇가지 노하우를 설명해드리겠습니다)
I use this indicator to trade Bitmex Margin trading.
(저는 이지표를 비트멕스 마진거래에 사용합니다)
5분봉차트에서 10~20배율로 1%띠기를 목표잡고 합니다.
5분봉차트를 보면 빨강,파랑 화살표와 그에대한 반대방향화살표가 뜨기까지의 변동이 1%~3% 이기때문에 한번의 주기에서 10~20%의 수익을 얻을수있습니다. 대신 손절할때도 10~20%의 손절
There are two requirements for successful trading on this indicator
(이 지표로 성공적인 매매를 하기위해서는 두가지가 필요합니다)
1.Principle
(1.원칙)
2.Ability
(2.실력)
First of all, you have to follow the principle.
(저 원칙을 지켜야합니다)
In some cases, using a script will result in loss.
(스크립트를 사용하다보면 손해가 발생하는 경우도 있습니다)
Kind of those
(이런 경우와)
and kind of those
(이런경우입니다)
Secondly, it's Abillity
(두번째로 실력입니다)
It is advantageous to recognize the areas where trends may occur and not to trade
(추세가 발생할수있는 구간을 미리인지하고 그 구간에서는 매매를 하지않는것이 유리합니다)
In my case, I check for trends occured, and then I trade them when the candles are in the first box space
(저의 경우에는 추세가 발생하는것을 확인하고 그후 캔들이 처음 박스권에 같힐때 매매 합니다)
I think it's a Abillity to look at the chart and see the current section accurately.
(차트를 보고, 현재 구간을 정확하게 파악하는것은 실력이라고 생각합니다)
I'll fill in some other know-how later on.
(이것외에 다른노하우들은 다음에 더 작성하겠습니다)
DARVAS BOX by KIVANÇ fr3762What Is the Darvas Box?
The Darvas Box strategy was developed by Nicholas Darvas. Aside from being a well known dancer, he began trading stock in the 1950s. Based on his success in trading, he was approached to write a book on his strategy. The book, “How I Made $2,000,000 in the Stock Market,” outlines his rather simple approach … simple once you understand the basic concepts and rationale of the strategy.
Darvas Box is an indicator that simply draws lines along highs and lows, and then adjusts them as new highs and lows form. The indicator is available on many trading platforms, such as Thinkorswim. Traders may wish to draw their own boxes though, based on recent highs and lows; Darvas was able to do so (based on telegram quotes) more than half a century ago.
Darvas Box Rules
I shall not follow advisory services.
I shall be cautious of broker advice.
I shall ignore Wall Street sayings or truisms, no matter how ancient or revered.
I shall only trade stocks on major exchanges with adequate volume .
I shall not listen to (or trade off of) rumors or tips, no matter how well researched they may sound.
I will use a sound strategy instead of gamble…I must study this strategy (originally this approach was fundamental analysis , which didn’t work for him, so he developed his Darvas Box trading method).
I will hold one position for longer, as opposed to juggling a bunch of positions for a short period of time.
Darvas looked for increasing volume when selecting stocks to trade; this alerted him to stocks that were being accumulated and were likely to see strong trends.
Darvas believed in buying stocks that presented an upper box limit breakout, but also had an upward Earnings trend. This was especially the case when the major indexes had experienced a decline.
When an upper box limit is broken, buy. From his book, the entry price was usually about 1 to 2% above the upper box limit.
If you enter a trade and the price proceeds to drop out of the new box, and back into the old box, exit the trade.
Entry and stop loss orders should be set in advance, so trades aren’t missed and risk is controlled.
Place, and trail the stop loss order to below the low of the most recent box. This initial stop loss was pretty tight, because Darvas assumed when a price broke out of an old box, it was entering a new box. Therefore, the stop was placed just below the high of old box which was just broken (low of new box).
Record trades, including reasons why you entered and exited.
General conditions of the market must favor buying. Don’t buy stocks when the major indexes are in a bear market, or when volume is flat or declining.
If you are stopped out, but the price moves back into the higher box again providing another buy signal, buy again, using the same stop loss location.
Since the stop is being trailed up, more funds can be added on each consecutive breakout.
The Bottom Line
Nicholas Darvas was a dancer, but committed a great deal of time to developing and then mastering his stock trading method. It’s a trend following method based on breakouts to higher boxes. Risk is controlled by placing a stop below new higher boxes as they form. During choppy conditions the strategy won’t be profitable. This is why Darvas also attempted to only trade stocks with increasing volume and rising Earnings . Trading his method requires a lot of discipline, but can produce big profits when strong trends develop.
source: traderhq.com
Creator: Nicholas DARVAS
