FOREX MASTER PATTERN Value Lines by nnamThe Forex Master Pattern is form of technical analysis that provides a framework for spotting hidden price patterns that reveal the true movement of the market. The Forex Master Pattern Value Lines Indicator helps to identify this Phase 1 contraction of the Forex Master Pattern cycle.
HOW THIS INDICATOR WORKS
This indicator looks for a sustained contraction in price initially indicated by TWO contraction bars in a row, thus detecting a contraction point and a potential new master pattern origin point.
Once a contraction point is detected, a blue box will appear on the chart with a thick solid blue line projecting from its center. These are potential "Points of Origin" and "Value Lines" that institutional traders use to balance their books.
As shown above, when price begins to move (detected by engulfing and/or expansion candles), an Arrow is plotted to the chart identifying a possible expansion.
As shown above, previous Value Lines typically serve as future support / resistance points, however, due to the unique location of these lines, they are not typically identified as support or resistance levels on standard S/R indicators.
Color Coded Candles assist the user in quickly identifying contraction and expansion areas as well as trends away from the value-line. The expansion candles, Up/Down candles, and contraction BARS are all inspired by the STRAT (Rob Smith) and are specifically incorporated into this indicator to assist the user in finding potential reversals during the expansion phase. This helps to avoid the whiplash typically associated with the first phase of Forex Master Pattern.
USER DEFINED SETTINGS
- Line Settings Section -
#Max Lines to Show
This limits or extends the total number of lines shown on the chart. The Default is 12 (minimum is 1, maximum is 499).
#Show Lines on Chart
This setting turns all lines ON or OFF on the chart
#Show Value-Lines on Chart
This setting turns the Value Lines ON or OFF on the chart
#Set Value-Line Width
This setting sets the width of the value-line displayed on the chart
#Only show last value-line on the chart
This setting removes all but the most recent value-line from the chart
- Box Settings Section -
#Show Last Box Only
This setting turns OFF all previous boxes and only shows the most recent contraction box on the chart
- Expansion Area Settings Section -
#Show Expansion Area
This setting turns ON or OFF the expansion area fill
#Show Expansion Guidelines on Chart
This setting turns ON or OFF the guidelines that show the current direction of the price via an extended line.
- Candle Colors Section -
#Color Code the Candles
This setting turns on Color Coding for the Candles which changes the colors of each candle type:
1. Contraction Candle
2. Expansion Candle
3. Up Candle
4. Down Candle
5. Engulfing Candles (engulfing candles override other candle settings if turned ON)
- Engulfing Patterns Section -
#Show Engulfing Patterns
This setting turns ON or OFF engulfing candle plots globally
#Show Bullish Engulfing Candles
This setting allows the user to turn Bullish Engulfing signals ON or OFF
#Show Bearish Engulfing Candles
This setting allows the user to turn Bearish Engulfing signals ON or OFF
I hope you enjoy this indicator and that it provides some value. Please reach out to me with any suggestions or need training on the indicator.
LINE
Line OscillatorThe input parameters include src, the source data for the indicator, presmooth, an integer value that determines the number of periods to use for pre-smoothing the source data, length, an integer value that determines the number of periods to use for calculating the relative strength index (RSI), smoothtype, a string value that determines whether to use the Hull moving average (HMA) or the Jurik moving average (JMA) for smoothing the RSI, smooth, an integer value that determines the number of periods to use for smoothing the RSI, and power, a float value that determines the power to use for the JMA calculation.
The script then performs some calculations, including pre-smoothing the source data using an exponential moving average (EMA), calculating the RSI from the pre-smoothed data, and smoothing the RSI using either the HMA or the JMA, depending on the value of smoothtype. The script also includes a function called calc_jma that calculates the JMA from a given source data and parameters.
Finally, the script plots the smoothed RSI on the chart and includes horizontal lines at various levels as well as an optional volume bar.
Real Price Line + Dots (for Heikin Ashi)Real Price Line + Dots (for Heikin Ashi)
This indicator is designed for use on Heikin Ashi charts. Its purpose is to enable traders to benefit from price averaging and smoothing effects of Heikin Ashi candles whilst also enabling them to see the current real price line, and optionally, real price close dots on the Heikin Ashi candlesticks.
Features include:
- Optional real price line
- Optional real price close dots
- Customisable colours
- Customisable line style
- Customisable line width
What are Heikin Ashi candles?
Heikin Ashi means 'average bar' in Japanese, Heikin Ashi charts do not show real price as standard, due to the way the Open, High, Low and Close values are calculated using averages, This is done in order to create a smoother appearance and reduce the market 'noise'.
You can read more about Heikin Ashi candlesticks here.
NOTE:
- If real price dots appear behind the candles, you may need to select the triple dot menu on the indicator then select "Visual order" > "Bring to front" , so that the dots are shown above the candles.
- When using this indicator on a Heikin Ashi chart, the standard Tradingview price line will not show accurate real price. Therefore when using the price line in this indicator, the standard price line should be disabled within the Tradingview 'Chart settings' dialog > 'Symbol' tab > uncheck 'Last', under the 'Price line' section.
Wicked Good S&R Zones// Hello tradeurs, ChasinAlts here with a script you've DEFINITELY never seen before. Hope everyone is well. Ok, so heres the low-down...When a wick's
// % size is above the threshold set by the user it is plotted with light blue (these aren't really the significant ones) and are put into an array.
// These large wick lines are great S&R lines but we're looking to filter out to only the best ones. So, after all the large wicks are recorded for the
// chart and lines drawn, it then calculates the area between each of these lines in % (you can think of the lines as the upper and lower lines to a box
// if you'd like...ie. it is one of the ways to view the final BEST S&R lines). What we are want is the largest of ALL the % areas between lines and to
// use these as our ultimate S&R Areas. Depending on the Min % Wick size that is chosen, you will find price usually either bouncing between these levels or
// that price will keep bouncing off of the same level until a large spike (up or down) occurs in price and the price will finally breach the level its been
// testing over and over. Once this DOES occur the level that was just broken many times will be the furthest point back for the retest. Now, as stated
// before there are 2 ways to view the output data. Either way it will show the largest % area between the lines as it is developing down the line of
// progressing bars on the chart (that means it WILL change but usually a portion of the previous area/box will be used for the newer smaller box or that
// the area/box will jump back and forth between the same few areas every now and again). Viewing it as a box will show the updated largest box
// (as stated twice now) but viewing it in it's S&R Line form will draw a new S&R line at the top and bottom of where the box would be if it was selected
// EXCEPT that these lines will persist across bars and you will continuously see how these levels will continue to be revisited and constantly used
// as S&R Lines as time progresses. (SO box only show the largest area and lines draws line at the top and bottom of box and persists across bars).
// There is not repainting that can occur. I hope you all enjoy this as I've found it EXTREMELY beneficial bc it's rare that when price first gets to a
// printed S&R level that it will shoot through it so you can depend on it bouncing off the the levels often multiple times. I've included comments in all
// of the code for your convenience. Also, the higher subscription plan you have (thus the more bars/data you have access to...the more S&R Lines will be drawn).
// Wish you all the best in your endeavors and may the force be with your trades, and as ALWAYS...Peace and Love people....Peace and Love. -ChasinAlts out.
Moving Average - fade when crossed [cajole]This indicator simply provides a moving average (SMA, EMA, etc. can be selected) which hides itself when touched by the price.
Two potential uses:
Set the growth rate to be slow, to highlight only very rapid moves on a chart.
Use the default settings and change the averaging period until the MA line remains bright. This MA can then act as a good trailing stop for the specific security.
TradingView does not remember indicator settings for specific charts. Consider adding a text label to your chart after you identify the ideal trailing stop. Similar trailing-stop methods are recommended by Kristjan Qullamagie is identical to Jesse Stine's "magic line" concept .
Educational: lines, linefill, labels & boxesThis educational script contains different examples regarding lines , linefill , labels & boxes
First part shows the use of array.new() without first
retrieving line.new() which then are put in a linefill.new()
At every start of the week a linefill.new() is added with the top line being
previous Weekly high , and the bottom line being previous Weekly low ,
if close doesn't go above top line, or below bottom line, both lines will be made longer
with 1 bar_index ( line.set_x2 ), otherwise the lines stop, and change color
Please read the comments in the script as well
Cheers!
[FFriZz]Priceline/TicksFFriZz | FrizLabz -- Priceline/Ticks
Due to TradingView not allowing us to change the size or style of the Priceline I decided to make this
You can change the style, size, color of the Price line with this Script
There is also an option for the closing price to be plotted on the Priceline
-- Colors --
You can have the Line and/or the Closing price change colors with the price movements
both are adjustable to your preference
-- Ticks --
Will show the difference in price from tick to tick
when Volume moves but price doesn't it will show '▲▼'
-- Adjustments --
The offset of the Close and Ticks can be adjusted from left to right
Can Extend Priceline in all directions
Can change the Line style and Width
Can change all the Text sizes and Colors
Can also Change Colors to change with Price movements
Can Change number of Ticks to show
-- Priceline --
You don't have to but I suggest going to the settings of your Chart and turning off the Priceline
-- Challenge --
There is Some code at the bottom that will move the Label and Ticks to the x% of your screen in from the right once
the last bar is no longer visible. I decided not to use it because even when the feature is turned off any movement of the
chart resets the Ticks. If you find out a way to have it not reset the Ticks Let me know!
If you find any bugs or have any suggestions feel free to DM me or leave a comment!
Hope you Enjoy! -- FFriZz | FrizLabz
Line Chart with circles on sub chart / LineChart no CandlesLine Chart with circles as a subchart. The circle will appear only after the candle has been confirmed.
Things you can change:
- Source: open, high, low, close, hl2, hlc3, ohlc4, hlcc4
- Color: change the color of the line and the circles
have fun with it!
B1rd's Level ToolV0.1
Allows you to create arbitrary support levels based on bar data from a selected point in time and source.
Features:
- An interactive chart that lets you pick the level simply by dragging the vertical line associated with its start point.
- A secondary vertical line (end point) sets up a point in time from where this indicator is going to check for price crossing the level. (so it doesn't trigger immediately if you are on a lower time frame)
- There is also an option to hide the vertical lines once you're done initializing.
- No matter what timeframe you are on, you can just pick the source and timeframe the level should be locked in on.
- Optionally when line is crossed it stops plotting the line from that point onward and shows you a signal.
- You can customize the name, color, size and style of each level.
TODO:
- Add the option to set up multiple levels.
- Add Alerts.
- Work on Improving the layout.
- Bugfixed.
- Give proper title names to the style tab.
Auto Trendline Indicator (based on fractals)A tool that automatically draws out trend lines by connecting the most recent fractals.
Description:
The process of manual drawing out trend lines is highly subjective. Many times, we don’t trade what we see, but what we “want to see”. As a result, we draw lines pointing to the direction that we wishfully want price to move towards. While there are no right/wrong ways to draw trend lines, there are, however, systematic/unsystematic ways to draw trend lines. This tool will systematically draw out trend lines based on fractals.
Additional feature:
This tool will also plot out symbols (default symbol “X”) to signify points of crossings. This can be useful for traders considering to use trend lines as part of their trading strategies.
Here is an interesting observation on the price actions of NASDAQ futures on a 5 second chart during regular trading hours on July 14, 2022.
It’s a phenomenon. People like to see straight lines connecting HL/LH, etc., so it's possible for the market as a whole to psychologically react to these lines. However, it is important to note that is is impossible to predict the direction of price. In the case above, price could have tanked below auto-drawn trend line. Fractal based trend lines should only be taken as references and regarded as price levels. No studies have ever proven that the slope of trend lines can indicate price's future direction.
More about fractals:
To understand more about fractals:
www.investopedia.com
www.tradingview.com
Contrary to what it sounds like, fractal in "technical analysis" does not refer to the recursive self-repeating patterns that appear in nature, such as the mesmerizing patterns found in snowflakes. The Fractal Markets Hypothesis claims that market prices exhibit fractal properties over time. Assuming this assertion to be true, then fractals can be used a tool to represent the chaotic movements of price is a simplified manner.
The purpose of this exercise is to take a tool that is readily available (ie. in this case, TradingView’s built-in fractals tool), and to create a newer tool based on it.
Parameters:
Fractal period (denoted as ‘n’ in code): It is the number of bars bounding a high/low point that must be lower/higher than it, respectively, in order for fractal to be considered valid. Period ‘n’ can be adjusted in this tool. Traditionally, chartists pick the value of 5. The longer it is, the less noise seen on the chart, and the pivot point may also be exhibited in higher timeframes. The drawback is that it will increase the period of lag, and it will take more bars to confirm the printed fractal.
Others: Intuitive parameters such as whether to draw historical trend lines, what color to use, which way to extend the lines, and whether or not to show points of crossings.
Support & Resistance[VTA]Description:
This indicator uses pivot points to draw support and resistance for you in different timeframes.
It also shows you the decrease in the increase of the currency compared to the resistance and support line, and you can see the end of the failures by the label.
Manufacturer:
This indicator was designed and developed by the VTA team.
Custom Price LineThis indicator lets you freely customize your price line. Choose between static or dynamic colors for falling/rising prices. In addition you can adjust the following:
Line style
Thickness
Length
Direction
It is also possible to mix different designs by using a single indicator.
Gap calculatorVERSION 1
This indicator base on detection of climax candles (Trend or Trading Range candles also available) then calculate average of open and close of those climax one.
Key-features of Gap line :
1 - forecast pullback
2 - finding support and resistance lines
3 - finding behavior of market
RelicusRoad - Signal LineWhen you have charts full of too many indicators, it can mess up with your analysis and cause analysis paralysis. Use RelicusRoad Signal Line to simply your charts with a beautiful color changing moving average line as per the strategies selected.
4 different strategies to choose from:
1) MACD
2) PMACD (Price Action + MACD)
3) Parabolic SAR
4) Momentum
GREEN: BUY ZONE
RED: SELL ZONE
FUNCTIONS OVERVIEW
MACD: Moving average convergence divergence ( MACD ) is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. The MACD is calculated by subtracting the 26-period exponential moving average ( EMA ) from the 12-period EMA .
The result of that calculation is the MACD line. A 9 EMA of the MACD called the "signal line," is then plotted on top of the MACD line, which can function as a trigger for buy and sell signals. Traders may buy the security when the MACD crosses above its signal line and sell—or short—the security when the MACD crosses below the signal line. Moving average convergence divergence ( MACD ) indicators can be interpreted in several ways, but the more common methods are crossovers, divergences, and rapid rises/falls.
Moving average convergence divergence ( MACD ) is calculated by subtracting the 26-period exponential moving average ( EMA ) from the 12-period EMA .
MACD triggers technical signals when it crosses above (to buy) or below (to sell) its signal line.
The speed of crossovers is also taken as a signal of a market is overbought or oversold.
MACD helps investors understand whether the bullish or bearish movement in the price is strengthening or weakening.
PMACD: It's an improvement to MACD that you can use the Red/Green indications to make better decisions.
Parabolic SAR: The parabolic SAR indicator, developed by J. Wells Wilder, is used by traders to determine trend direction and potential reversals in price. The indicator uses a trailing stop and reverse method called "SAR," or stop and reverse, to identify suitable exit and entry points. Traders also refer to the indicator as the parabolic stop and reverse , parabolic SAR , or PSAR.
The parabolic SAR indicator appears on a chart as a series of dots, either above or below an asset's price, depending on the direction the price is moving. A dot is placed below the price when it is trending upward, and above the price when it is trending downward.
The parabolic SAR (stop and reverse) indicator is used by technical traders to spot trends and reversals.
The indicator utilizes a system of dots superimposed onto a price chart.
A reversal occurs when these dots flip, but a reversal signal in the SAR does not necessarily mean a reversal in the price. A PSAR reversal only means that the price and indicator have crossed.
Momentum: On paper, momentum investing seems less like an investing strategy and more like a knee-jerk reaction to market information. The idea of selling losers and buying winners is seductive, but it flies in the face of the tried and true Wall Street adage, "buy low, sell high."
Momentum investing is a trading strategy in which investors buy securities that are rising and sell them when they look to have peaked.
The goal is to work with volatility by finding buying opportunities in short-term uptrends and then sell when the securities start to lose momentum.
Then, the investor takes the cash and looks for the next short-term uptrend, or buying opportunity, and repeats the process.
Skilled traders understand when to enter into a position, how long to hold it for, and when to exit; they can also react to short-term, news-driven spikes or selloffs.
Risks of momentum trading include moving into a position too early, closing out too late, and getting distracted and missing key trends and technical deviations.
VPLineVPLine is a brand-new line indicator which automatically draws historical POC line with volume profile histograms based on user input session and configurations.
A colossal amount of function is deployed on the indicator: historical POC line, historical VA, historical VA high/low, volume profile histograms, volume profile value text (bid/ask/total), threshold function that limits the extension of the POC line based on user input etc.
Dashed Line Moving AveragesHere's a simple script which i concocted using ideas from various authors with the goal of creating a slightly better Moving Average dashed line script imo...I think i managed to do just that and a bit more.. =)
Features:
- Contains one of each VWMA SMA EMA. You can set the input length.
- Ability to set spacing between characters of the plotted moving average line
- Horizontal offset of the moving average lines (just in case)
- Can add any fancy characters that suits your taste e.g ( . , _ , -, !, *, rocket, lava, etc) to the moving average
- If you duplicate the script and modify the "Size" parameter of the plotchar() function's variables with the choices provided in the commented-out code; you can have some fun!
This script is for entertainment & educational purposes only.
Average Directional Index W/ 20Line (adjustable)This is basically trading views standard ADX indicator
All i added was an adjustable horizontal line since i could not find one anywhere on TV.
i did not like manually adding a horizontal line every time i loaded an instance of the ADX ...
sooooo here you go
enjoy!
Psychological LineThis indicator can be shown by the number of bars with consecutive higher closing prices over a period of time. The maximum value is equal to the period.
The default period value is 12.
Thresholds used with this period are 3, 6, and 9.
A drop below 3 suggests an approaching low, and a crossover above 9 warns about an upcoming top.
In this period, 6 is a neutral value and represents the borderline separating uptrends and downtrends.
MACD + Divergence + Line █ OVERVIEW
Here's the classic MACD with some simples features in plus.
█ CONCEPTS
4 features
1 — Classic MACD histogram, with 4 different colors such as above or below 0, and above or below the previous bar
2 — Display option to disable EMA
3 — A signal line that show the exact point, because the histogram view might be hard to be precise
4 — Looking for previous Divergences, Bullish, Bearish and Hidden Bullish and Bearish but I don't like Hidden divergences
█ OTHER SECTIONS
An oscillator is good to know where we are in the trends, but it's not enough to run a small business of trading, you need to learn how to use it.
What is a divergence ?
Thanks to The rational investor for teaching me how to use this indicator.
Vertical LinesThis script plots vertical lines on charts or indicators. Unfortunately pinescript is lacking a vertical line plotting function. Vertical lines are useful to mark events, such as crossover of levels, indicators signals or as a time marker.
After searching the internet for a long time and trying different scripts, this script is the simplest and visually the best. You would think that plotting a vertical line would be relatively easy, it is not! I thank the unknow author for sharing this solution and now I will share it on tradingview to make it readily available to anybody that needs it.
RSI crossover signals are used as an example in this script. When the RSI crosses over 70 or below 30, the script plots a red or green vertical line.
The script plots a vertical line as a histogram bar. The histogram bar must have a height.
Setting the height near infinity like 1e20 will cover all the ranges from top to bottom in most charts, but doesn't work all the time. If the chart range is small in values, the line is not plotted or the chart is visually compressed because the top of the bar is also a data point in the chart. Another solution is to find the highest point in the chart and multiply it by a number from 2 to 10 to set the top of the histogram bar. But this solution doesn't work if the line is drawn in the indicator window. additionally if the chart or indicator includes negative values, a histogram bar with a negative height must be concatenated to the histogram bar with a positive height to cover the positive and negative range.
It would seem intuitive to include a vertical plot function since it is very useful and pinescript already has a horizontal line plot function called Hline. But pinescript is becoming less intuitive, and redundant. A case in point is Version 4 variable declaration and naming, it less intuitive and more redundant than previous versions. I beg Tradingview to adopt a more refined scripting language such as Matlab or Python for charting purposes. These languages can be easily ported to other analysis programs for AI or statistical analysis.
Logarithmic Trend ChannelThis indicator automatically draws a regression channel plotted on logarithmic scale from the first quotation.
This model is useful for the long term series data (such as 10 or 20 years time span).
The Pearson correlation measures the strength of the linear relationship between two variables. It has a value between to 1, with a value of 0 meaning no correlation, and + 1 meaning a total positive correlation.
Logarithmic price scales are a type of scale used on a chart, plotted such that two equivalent price changes are represented by the same vertical changes on the scale.
They differ from linear price scales because they display percentage points and not dollar price increases for a stock.
Technical issues
*The user have to pan over the chart from the beginning to the end of the study range (such as 10 years of bars) so the pine script could generate those lines on the chart.
*If on the chart the number of bar is less than the lookback period, it won't generate any lines as well.
Just a Vertical Line█ OVERVIEW
This is Just a Vertical Line. Nothing fancy or complicated.
Sometime, you might just need one vertical line on a specific date to appear on all of your charts for a quick comparison -or any other purposes-. With this script you you can do just that.
You will need to select that date ONCE and scroll through your charts and through different assets and that line will still be there. You can also activate a label to appear on top on that line! and customize what it says.
Perhaps.. you might want to see the asset's performance on that day, or since that day. Well... We got you. This script is equipped with a statistics box that includes the performance on that candle you chose or the performance TD -to date.-
It's not really hard, you can drag that date and change it without going through the settings as well.
█ Future Plans and upgrades to this script may include :
1. More statistics!
2. Range tools
█ How to use :
1. Add the script to your chart.
2. Open the settings, activate the date then choose it.
3. Change the date -if you want to- outside the settings box by dragging the vertical line across the chart
HAP Auto Trend Line [PRO]Hello Traders!
The trend line is among the most important tools used by technical analysts. Instead of looking at past business performance or other fundamentals, technical analysts look for trends in price action. A trend line helps technical analysts determine the current direction in market prices. Technical analysts believe the trend is your friend, and identifying this trend is the first step in the process of making a good trade, and it can tell Support/resistance is very good.
But when drawing Trend Lines, sometimes we're not sure where to start. From where is the starting point? And sometimes it can be drawn multiple lines with different support/resistance lines over time. This itself can be confusing, so I tried to create a tool that allows it to draw lines automatically. According to price movement.
Let's take a look at the variables you need to understand from our indicators.
For this indicator it works in two main parts:
Section of Trend Line
Trend Reversal section
Therefore, these two parts have separate functions. To be used as a component for easier decision-making.
Trend Line, as I said before, what it is. Next is Trend Reversal. I will simply say it is. A period of time when the candle tries to pump and dump. This will help point out the potential price reversal. And if there is a trend line area, it is an interesting point to consider. To identify possibilities.
Some variables from the settings page
Number of Bars to Check : It is the number of past candlesticks to consider. To identify the start of the Trend Line, if it meets the condition, it will automatically draw the Trend Line for you.
Trend Line Depth : It is the frequency. Of identifying the starting point Trend Line. If the value is large, it will find a low Trend Line, and if it is low, it will find more Trend Line. This is flexible. So you have to try it yourself. On demand.
Overview
You can turn it on or off. Support/resistance position either.
Select Emoji Support/resistance. Freely
Line style you want
your favorite color
customizable line intensity
the script is fast enough to run on 1sec chart:
fun !
