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Candlestick analysis

Multi-Symbol Volatility Tracker with Range DetectionMulti-Symbol Volatility Tracker with Range Detection 🎯 Main Purpose: This indicator is specifically designed for scalpers to quickly identify symbols with high volatility that are currently in ranging conditions . It helps you spot the perfect opportunities for buying at lows and selling at highs repeatedly within the same trading session. 📊 Table Data Explanation: The indicator displays a comprehensive table with 5 columns for 4 major symbols (GOLD, SILVER, NASDAQ, SP500): SYMBOL: The trading instrument being analyzed VOLATILITY: Color-coded volatility levels (NORMAL/HIGH/EXTREME) based on ATR values Last Candle %: The percentage range of the most recent 5-minute candle Last 5 Candle Avg %: Average percentage range over the last 5 candles RANGE: Shows "YES" (blue) or "NO" (gray) indicating if the symbol is currently ranging 🔍 How to Identify Trading Opportunities: Look for symbols that combine these characteristics: RANGE column shows "YES" (highlighted in blue) - This means the symbol is moving sideways, perfect for range trading VOLATILITY shows "HIGH" or "EXTREME" - Ensures there's enough movement for profitable scalping Higher candlestick percentages - Indicates larger candle ranges, meaning more profit potential per trade ⚡ Optimal Usage: Best Timeframe: Works optimally on 5-minute charts where the ranging patterns are most reliable for scalping Trading Strategy: When you find a symbol with "YES" in the RANGE column, switch to that symbol and look for opportunities to buy near the lows and sell near the highs of the ranging pattern Risk Management: Higher volatility symbols offer more profit potential but require tighter risk management ⚙️ Settings: ATR Length: Adjusts the Average True Range calculation period (default: 14) Range Sensitivity: Fine-tune range detection sensitivity (0.1-2.0, lower = more sensitive) 💡 Pro Tips: The indicator updates in real-time, so monitor for symbols switching from "NO" to "YES" in the RANGE column Combine HIGH/EXTREME volatility with RANGE: YES for the most profitable scalping setups Use the candlestick percentages to gauge potential profit per trade - higher percentages mean more movement The algorithm uses advanced statistical analysis including standard deviation, linear regression slopes, and range efficiency to accurately detect ranging conditions Perfect for day traders and scalpers who want to quickly identify which symbols offer the best ranging opportunities for consistent buy-low, sell-high strategies.
אינדיקטור Pine Script®
מאת ‎igaudette‎
CNagda Anchor2EntryCNagda Anchor2Entry Pine Script v6 overlay indicator pulls higher-timeframe (HTF) signal events to define anchor high/low levels and then projects visual entry labels on the lower-timeframe (LTF). It also draws auto-oriented Fibonacci retracement/extension levels for context, but it does not execute orders, stops, or targets—only visual guidance. Inputs Key inputs include Lookback Length for HTF scanning and a Signal Timeframe used with request.security to import HTF events onto the active chart. Entry behavior can be set to “Confirm only” or “Wait candle,” trade side can be restricted to Buy/Sell/Both, and individual strategies (Buy WAIT/S1; Sell REV/S1/S2/S3) can be toggled. HTF logic The script defines WAIT/BUY setup and confirmation, SELL reversal on breaking the WAIT BUY low, and several volume/candle-based patterns (Sell S1/S2/S3, Buy S1). It captures the associated highs/lows at those events with ta.valuewhen and imports them via request.security to form anchors (anc_hi/anc_lo) and “new trigger” booleans that gate label creation on the LTF. Flip entries When enabled, “Flip entries” generate contrarian labels based on breaking or confirming HTF anchors: crossing above anc_hi can trigger a flip-to-sell label, and crossing below anc_lo can trigger a flip-to-buy label. The flip mode supports Immediate (on cross) or Confirm (on sustained break) to control how strict the trigger is. Fibonacci drawing User-specified Fib levels are parsed from a string, safely converted to floats, and drawn as dotted horizontal lines only when they fall inside an approximate visible viewport. Orientation (up or down) is decided automatically from pending signal direction and a simple context score (candle bias, trend, and price vs. mid), with efficient redraw/clear guards to avoid clutter. Dynamic anchors If HTF anchors are missing or too far from current price (checked with an ATR-based threshold), the script falls back to local swing highs/lows to keep the reference range relevant. This dynamic switch helps Fib levels and labels remain close to current market structure without manual intervention. Signal labels Labels are created only on confirmed bars to avoid repainting noise, with one “latest” label kept by deleting the previous one. The script places BUY/SELL labels for WAIT/CONFIRM, direct HTF patterns (Buy S1, Sell S1/S2/S3), and contrarian flip events, offset slightly from highs/lows with clear coloring and configurable sizes. Visual context Bars are softly colored (lime tint for bullish, orange tint for bearish) for quick context, and everything renders as an overlay on the price chart. Fib labels include a Δ readout (distance from current close), and line extension length, label sizes, and viewport padding are adjustable. How to use Set the Signal Timeframe and Lookback Length to establish which HTF structures and ranges will drive the anchors and entry conditions. Choose entry flow (Wait vs Confirm), enable Flip if contrarian triggers are desired, select the trade side, toggle strategies, and customize Fibonacci levels plus dynamic-anchor fallback for practical on-chart guidance. Notes This is a visual decision-support tool; it does not place trades, stops, or targets and should be validated on charts before live use. It is written for Pine Script v6 and relies heavily on request.security for HTF-to-LTF transfer of signals and anchors.
אינדיקטור Pine Script®
מאת ‎cnagda3‎
1
All Levels This script draws key price levels on your chart, including: • Previous Day (PD): High, Low, Close • Day Before Yesterday (DBY): High, Low, Close • Pre-Market (PM): High and Low • Today’s levels: High, Low, Open, Close • Current bar levels: High, Low, Open, Close Each level is displayed as a horizontal line with a label showing the level value. It works on any timeframe, including 1-minute charts, and automatically updates as new bars form. ⸻ 2. Features 1. Custom Colors Each type of level has its own color, declared as a const color. For example: • Previous Day High = red • Today’s Close = gold • Pre-Market High = fuchsia 2. Right-Extending Lines All horizontal levels extend to the right, so you always see them on the chart. 3. Persistent Labels Every line has a label at the right side showing its name and price. For example: • PDH 422 • TODL 415.5 4. Dynamic Updates The script updates automatically whenever a new bar forms, so levels stay accurate. 5. Session-Based Pre-Market You can define the pre-market session (default “04:00–09:30 EST”). The script calculates the high and low of this session only. 6. Checkbox Inputs You can enable/disable entire groups of levels: • Previous Day • Day Before Yesterday • Pre-Market • Today • Current bar
אינדיקטור Pine Script®
מאת ‎nasdaq_girl‎
Simple Turnover (Enhanced v2)📊 Simple Turnover (Enhanced) 🔹 Overview The Simple Turnover Indicator calculates a stock’s turnover by combining both price and volume, and then compares it against quarterly highs. This helps traders quickly gauge whether market participation in a move is strong enough to confirm a breakout, or weak and likely to be false. Unlike volume alone, turnover considers both traded volume and price level, giving a truer reflection of capital flow in/out of a stock. ________________________________________ 🔹 Formulae Used 1. Average Price (SMA) AvgPrice=SMA(Close,n) 2. Average Volume (SMA) AvgVol=SMA(Volume,n) 3. Turnover (Raw) Turnover raw=AvgPrice × AvgVol 4. Unit Adjustment • If Millions → Turnover = Turnover raw × 10^−6 • If Crores → Turnover = Turnover raw × 10^−7 • If Raw → Turnover = Turnover raw 5. Quarterly High Turnover (qHigh) Within each calendar quarter (Jan–Mar, Apr–Jun, Jul–Sep, Oct–Dec), we track the maximum turnover seen: qHigh=max (Turnover within current quarter) ________________________________________ 🔹 Visualization • Bars → Color follows price candle: o Green if Close ≥ Open o Red if Close < Open • Blue Line → Rolling Quarterly High Turnover (qHigh) ________________________________________ 🔹 Strategy Use Case The Simple Turnover Indicator is most effective for confirming true vs false breakouts. • A true breakout should be supported by increasing turnover, showing real capital backing the move. • A false breakout often occurs with weak or declining turnover, suggesting lack of conviction. 📌 Example Strategy (3H timeframe): 1. Identify a demand zone using your preferred supply-demand indicator. 2. From this demand zone, monitor turnover bars. 3. A potential long entry is validated when: o The current turnover bar is at least 20% higher than the previous one or two bars. o Example setting: SMA length = 5 (i.e., turnover = 5-bar average close × 5-bar average volume). 4. This confirms strong participation in the move, increasing probability of a sustained breakout. ________________________________________ 🔹 Disclaimer ⚠️ This indicator/strategy does not guarantee 100% accurate results. It is intended to improve the probability of identifying true breakouts. The actual success of the strategy will depend on price action, market momentum, and prevailing market conditions. Always use this as a supporting tool along with broader trading analysis and risk management.
אינדיקטור Pine Script®
מאת ‎IndianCamel‎
2
EMP Probabilistic [CHE]Part 1 — For Traders (Practical Overview, no formulas) What this tool does EMP Probabilistic \ turns raw price action into a clean, probability-aware map. It builds two adaptive bands around the session open of a higher timeframe you choose (called the S-timeframe) and highlights a robust median threshold. At a glance you know: Where price has recently tended to stay, Whether current momentum sits above or below the median, and A live Long vs. Short probability based on recent outcomes. Why it improves decisions Objective context in any regime: The nonparametric band comes straight from recent market behavior, without assuming a particular distribution. Volatility-aware risk lens: The parametric band adapts to current volatility, helping you judge stretch and room for continuation or snap-back. No lookahead: All stats update only after an S-bar is finished. That means the panel reflects information you truly had at that time. How to read the chart Orange band = empirical, distribution-free range derived from recent session returns (nonparametric). Teal band = volatility-scaled range around the session open (parametric). Median dots: green when close is above the median threshold, red when below. Info panel: shows the active S-timeframe, window sizes, live coverage for both bands, the internal width parameter and volatility estimate, plus a one-line summary. Probability label: “Long XX% • Short YY%” — a simple read on the recent balance of up vs. down S-bars. How to use it (quick start) 1. Choose S-timeframe with Auto, Multiplier, or Manual. “Auto” scales your chart TF up to a sensible higher step. 2. Set alpha to control how tight the inner band should be. A typical value gives you a comfortable center zone without cutting off healthy trends. 3. Trade the context: Trend-following: Prefer longs when price holds above the median; prefer shorts when it stays below. Mean-reversion: Fade moves near the outer edges during ranges; look for reversion back toward the median. Breakout filter: Require closes that push and hold beyond the volatility band for momentum plays; avoid noise when price chops inside the middle of the orange band. Risk management made practical Size positions relative to the teal band width to keep risk consistent across instruments and regimes. For stops, many traders set them just beyond the opposite orange bound or use a fraction of the teal band. Watch the panel’s coverage readouts and Brier score; when they deteriorate, the market may be shifting — reduce size or demand stronger confirmation. Suggested presets Scalping (Crypto/FX): Auto S-TF, alpha around a fifth, calibration window near two hundred, RS volatility, metrics window near two hundred. Intraday Futures: Multiplier 3–5× your chart TF; similar alpha and window sizes; RS volatility is a solid default. Swing/Equities: S-TF at least daily; test both RS and GK volatility modes; keep windows on the larger side for stability. What makes it different Two complementary lenses: a distribution-free read of recent behavior and a volatility-scaled read for risk and stretch. Self-calibrating width: the parametric band quietly nudges its internal multiplier so actual coverage tracks your target. Clean UX: grouped inputs, tooltips, an info panel that tells you what’s going on, and a simple median bias you can act on. Repainting & timing The logic updates only when the S-bar closes. On lower-timeframe charts you’ll see intrabar flips of the dot color — that’s just live price moving around. For strict signals, confirm on S-bar close. Friendly note (not financial advice) Use this as a context engine. It won’t predict the future, but it will keep you on the right side of probability and volatility more often, which is exactly where consistency starts. Part 2 — Under the Hood (Conceptual, no formulas) Data and timeframe design The script works on a higher S-timeframe you select. It fetches the open, high, low, close, and time of that S-bar. Internally, it only updates its rolling windows after an S-bar has finished. It then pushes the previous S-bar’s statistics into its arrays. That design removes lookahead and keeps the metrics out-of-sample relative to the current S-bar. Nonparametric band (distribution-free) The orange band comes from the empirical distribution of recent session-level close-minus-open moves. The script keeps a rolling window, sorts a safe copy, and reads three key points: a lower bound, a median, and an upper bound. Because it’s based purely on observed outcomes, it adapts naturally to skew, fat tails, and regime shifts without assuming any particular shape. The orange range shows “where price has tended to live” lately on the chosen S-timeframe. Parametric band (volatility-scaled) The teal band models log-space variability around the session open using one of two well-known OHLC volatility estimators: Rogers–Satchell or Garman–Klass. Each estimator contributes a per-bar variance figure; the script averages these across the rolling window to form a current volatility scale. It then builds a symmetric band around the session open in price space. This gives you a volatility-aware notion of stretch that complements the distribution-free orange band. Self-calibration of band width The teal band has an internal width multiplier. After each completed S-bar the script checks whether the realized move stayed inside that band. If the band was too tight, the multiplier is nudged upward; if it was too loose, it’s eased downward. A simple learning rate governs how quickly it adapts. Over time this keeps the realized inside-coverage close to the target implied by your alpha setting, without you having to hand-tune anything. Long/Short probability and calibration quality The Long vs. Short probability is a transparent statistic: it’s just the recent fraction of up sessions in the rolling window. It is not a complex model — and that’s the point. You get an honest, intuitive read on directional tendency. To monitor how well this simple probability lines up with reality, the script tracks a Brier-style score over a separate metrics window. Lower is better: it means your recent probability read has matched outcomes more closely. Coverage tracking for both bands The panel reports coverage for the orange band (nonparametric) and the teal band (parametric). These are rolling averages of how often recent S-bar moves landed inside each band. Watching these two numbers tells you whether market behavior still aligns with the recent distribution and with the current volatility model. Why it doesn’t repaint Because the arrays update only when an S-bar closes and only push the previous bar’s stats, the panel and metrics reflect information you had at the time. Intrabar visuals can change while a bar is forming — that’s expected — but the decision framework itself is anchored to completed S-bars. Performance and practicality The heaviest step is sorting a copy of the window for the nonparametric band. With typical window sizes this stays responsive on TradingView. The volatility estimators and rolling averages are lightweight. Inputs are grouped with clear tooltips so you can tune without hunting. Limitations and good practice In thin or gappy markets the bands can jump; consider a larger window or a higher S-timeframe. During violent regime shifts, shorten the window and increase the learning rate slightly so the teal band catches up faster — but don’t overdo it, or you’ll chase noise. The Long/Short probability is intentionally simple; it’s a context indicator, not a standalone signal factory. Combine it with structure, volume, or your execution rules. Takeaway Under the hood, the script blends empirical behavior and volatility scaling, then self-calibrates so the teal band’s real-world coverage stays near your target. You get clarity, consistency, and a dashboard that tells you when its own assumptions are holding up — exactly what you need to trade with confidence. Disclaimer The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context. Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved. By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk. Best regards and happy trading Chervolino
אינדיקטור Pine Script®
מאת ‎chervolino‎
Algo MA💎 (V.4.3)Algo MA💎 V.4.3 - Multi-EMA System with Advanced Candle Analysis **Algo MA💎 V.4.3** is a comprehensive trend analysis system that combines multiple EMA configurations with advanced candle coloring, support/resistance detection, and integrated trade management dashboards. This indicator provides a complete visual trading environment with sophisticated trend identification and portfolio tracking capabilities. **Core Innovation & Originality** This system uniquely integrates seven distinct analytical components: 1. **Dual-EMA Signal Engine** - Primary trend detection using 9/21 EMA crossovers with customizable sensitivity 2. **Advanced Candle Classification** - Multi-layer candle coloring with two sensitivity levels (violet/rose) based on ATR calculations 3. **Trend Confirmation System** - Secondary 20/50 EMA trend filter with dynamic cloud visualization 4. **Zero Lag EMA Implementation** - 144-period Zero Lag EMA with directional color coding for reduced lag trend analysis 5. **RSI Extreme Detection** - Overbought (75) and oversold (25) level identification with visual markers 6. **Dynamic Support/Resistance** - Pivot-based support and resistance level calculation with 50-bar lookback 7. **Integrated Trade Management** - Three customizable dashboard tables for real-time portfolio tracking **System Architecture & Functionality** **Primary Signal Generation:** The core system uses a 9-period EMA and 21-period EMA comparison to generate directional bias. When EMA9 > EMA21, the system indicates bullish conditions; when EMA9 < EMA21, it signals bearish conditions. This creates the foundation for all visual elements and trend analysis. **Advanced Candle Coloring Logic:** The system employs a sophisticated three-layer candle coloring approach: - **Green Candles**: EMA9 > EMA21 (bullish trend) - **Red Candles**: EMA9 < EMA21 (bearish trend) - **Violet Candles**: EMAs within sensitivity_violet * ATR(14) range (consolidation) - **Rose Candles**: EMAs within sensitivity_rose * ATR(14) range (tight consolidation) **Sensitivity-Based Classification:** Two independent sensitivity parameters allow fine-tuning of consolidation detection: - **Violet Sensitivity (0.3 default)**: Broader consolidation zones - **Rose Sensitivity (0.1 default)**: Tighter consolidation zones **Zero Lag EMA Implementation:** Uses advanced calculation: `zlema = ema(src + src - src , length)` where lag = floor((length-1)/2). This reduces the inherent lag of traditional EMAs while maintaining smoothness. **Trend Confirmation Framework:** The 20/50 EMA system provides trend context with visual cloud fills: - **Blue Cloud**: 20 EMA > 50 EMA (bullish trend environment) - **Red Cloud**: 20 EMA < 50 EMA (bearish trend environment) **Unique Visual Features** **Multi-Layer Candle System:** The indicator plots up to four candle layers simultaneously: 1. **Base Candles**: Primary EMA-based trend colors 2. **Violet Consolidation**: ATR-adjusted consolidation detection 3. **Rose Consolidation**: Tighter consolidation identification 4. **Bearish Overlay**: Optional bearish candle highlighting **Support/Resistance Detection:** Uses pivot point calculations with 50-bar left and right parameters: - **Green Lines**: Resistance levels from pivot highs - **Red Lines**: Support levels from pivot lows - **Dynamic Updates**: Lines adjust based on price action **RSI Extreme Markers:** - **Red Triangles**: First occurrence of RSI > 75 (overbought) - **Green Triangles**: First occurrence of RSI < 25 (oversold) **Integrated Dashboard System** **Trade Management Tables:** Three independent dashboard tables provide comprehensive trade tracking: - **Stock Information**: Ticker symbol and trade direction (BUY/SELL) - **Order Details**: Entry price, stop loss, and take profit levels - **Position Status**: Real-time trade monitoring with color-coded status **Dashboard Customization:** - **Positioning**: Bottom-right, bottom-center, bottom-left placement options - **Color Coding**: Green for BUY positions, red for SELL positions - **Manual Entry**: User-customizable fields for trade parameters **Volume Analysis Integration** **Volume Oscillator:** Implements short (5) and long (10) EMA volume comparison: `osc = 100 * (short_volume_ema - long_volume_ema) / long_volume_ema` This provides additional confirmation for trend strength and potential reversals. **Usage Instructions** **Trend Identification:** - **Primary Trend**: Monitor 9/21 EMA relationship and candle colors - **Trend Strength**: Observe Zero Lag EMA color (green=bullish, red=bearish) - **Trend Context**: Use 20/50 EMA cloud for higher timeframe bias **Entry Signal Recognition:** - **Bullish Setup**: Green candles + blue trend cloud + support level test - **Bearish Setup**: Red candles + red trend cloud + resistance level test - **Consolidation**: Violet/rose candles indicate ranging conditions **Risk Management Application:** - **Support/Resistance**: Use pivot levels for stop placement and targets - **RSI Extremes**: Monitor overbought/oversold conditions for reversal potential - **Dashboard Tracking**: Utilize tables for position management **Advanced Analysis:** - **Sensitivity Adjustment**: Modify violet/rose parameters for market volatility - **Multi-Timeframe**: Apply system across different timeframes for confluence - **Volume Confirmation**: Use volume oscillator for signal validation **Customization Options** **EMA Parameters:** - **Main Flow EMAs**: Adjustable 9/21 period settings - **Trend EMAs**: Customizable 20/50 period configuration - **Zero Lag EMA**: Modifiable 144-period length **Visual Settings:** - **Candle Display**: Toggle bearish candle overlay - **Trend Visualization**: Show/hide trend cloud and EMAs - **Support/Resistance**: Enable/disable pivot level display - **RSI Markers**: Control overbought/oversold triangle display **Dashboard Configuration:** - **Table Display**: Independent control for three dashboard tables - **Trade Details**: Customizable entry, stop, and target fields - **Position Status**: Manual BUY/SELL/neutral designation **Alert System** Built-in alert conditions for: - **Bullish Signal**: EMA9 crosses above EMA21 - **Bearish Signal**: EMA9 crosses below EMA21 **Important Considerations** This system works optimally in trending markets with clear directional bias. During consolidation periods, focus on violet/rose candle identification and range-bound strategies. The multiple EMA layers provide comprehensive trend analysis but may generate conflicting signals during choppy conditions. The dashboard tables serve as trade management tools but require manual input for position tracking. The system combines established EMA techniques with original sensitivity-based consolidation detection and advanced visual presentation methods. **Disclaimer**: This indicator is designed for educational and analytical purposes. The dashboard tables are for position tracking only and do not execute trades automatically. Past performance does not guarantee future results. Always implement proper risk management and consider multiple confirmation methods before making trading decisions.
אינדיקטור Pine Script®
מאת ‎Heuchache‎
Scalping Strategy: FVG + Engulfing This is a scalping strategy based on the Fair Value Gap (FVG) and Engulfing pattern confirmation. It identifies the high and low of the first 5-minute candle after the 9:30 AM EST market open and waits for a breakout supported by a Fair Value Gap. A trade is only triggered after a retest of the FVG zone followed by an engulfing candle in the direction of the breakout. Trades are entered with a fixed 3:1 risk-to-reward ratio and limited to 2 entries per trading day to avoid overtrading. Ideal for NASDAQ scalping on a 1-minute chart.
אסטרטגיית Pine Script®
מאת ‎faninasir‎
Katz Candle Momentum Reversal Indicator v4.1Katz Candle Momentum Reversal Indicator (CMRI) v4.1 Overview The Katz CMRI is a comprehensive trading indicator designed to identify trend direction, momentum shifts, and potential market reversals. It combines several different concepts into a single, cohesive visual tool. At its core, the indicator uses a custom Line Break chart calculation to filter out market noise and a Heikin-Ashi-style formula to smooth price action. This combination helps to more clearly define the underlying trend. The main output is a dynamic, multi-colored trend line accompanied by various signals that appear directly on your chart. It's designed to help traders stay with the trend while also spotting key moments of expansion, contraction, and potential reversal. How to Interpret the Indicator The indicator has several key visual components: Main Trend Line: This is the thick, central line that changes color. Green: Indicates a bullish (upward) trend. Red: Indicates a bearish (downward) trend. Faded/Light Colors: Suggest a potential loss of momentum or a pullback within the trend. White: Signals a significant break in the trend structure. Trend Cloud: The shaded area between the main trend line and the white midline (mid). A green cloud shows the trend is above the midpoint, while a red cloud shows it's below. Upper/Lower Bands: The aqua (Trend Up) and yellow (Trend Down) lines represent the recent highs and lows of the established trend. When price is pushing against these bands, it signals trend strength. Background Colors: Gray: A "Contraction Zone." This indicates that the trend is losing momentum and consolidating, warning of potential chop or a reversal. Blue: An "Expansion Event." This highlights a sudden increase in momentum in the direction of the trend. Signal Shapes: Diamonds: These are the primary entry signals. A green diamond below a candle signals a potential long entry, while a red diamond above a candle signals a potential short entry. ⬆️⬇️ Arrows: These are secondary momentum signals. They can be used as confirmation that the trend is continuing. Trading Strategy & Rules This strategy uses the primary diamond signals for entries and trend changes for exits. Long Trade (Buy) Rules Entry: Wait for a green diamond to appear below the price candles. For confirmation, the main trend line should turn solid green, and the price should ideally be above the white midline. Exit: Stop Loss: Place a stop loss below the recent swing low or below the candle where the green diamond appeared. Take Profit: Consider exiting the trade when a red diamond appears above the candles, signaling a potential trend reversal. Alternatively, a trader might exit if the background turns gray (Contraction Zone), indicating the bullish momentum has faded. Short Trade (Sell) Rules Entry: Wait for a red diamond to appear above the price candles. For confirmation, the main trend line should turn solid red, and the price should ideally be below the white midline. Exit: Stop Loss: Place a stop loss above the recent swing high or above the candle where the red diamond appeared. Take Profit: Consider exiting the trade when a green diamond appears below the candles. A gray "Contraction Zone" can also serve as an early warning to exit as bearish momentum wanes. Indicator Filters Explained The indicator includes a "Trend Filter Type" setting that allows you to adjust its sensitivity. This can help reduce false signals in choppy markets. Raw: This is the most sensitive setting. It will generate a trend change signal as soon as the basic conditions are met. Use this for scalping or in strongly trending markets, but be aware that it may produce more false signals. OutStep: This is the default, balanced setting. It adds an extra layer of confirmation by requiring the main trend line itself to be moving in the direction of the new trend. For example, a new green signal will only be confirmed if the trend line's value is higher than its previous value. This helps filter out weak signals. FullStep: This is the most conservative and filtered setting. It includes the "OutStep" logic and adds further conditions related to the upper and lower trend bands. This setting will produce the fewest signals, but they are generally the highest quality, making it suitable for swing trading or avoiding choppy market conditions. Disclaimer This indicator is a tool for technical analysis and should not be considered financial advice. All trading involves substantial risk, including the possible loss of principal. Past performance is not indicative of future results. The signals generated by this indicator are for educational and informational purposes only. You are solely responsible for any trading decisions you make. Use this indicator at your own risk.
אינדיקטור Pine Script®
מאת ‎KATZcrypto‎