Polygonal Pivot Bands [FXSMARTLAB]The Polygonal Pivot Bands highlights key price pivots, dynamic support and resistance levels, and recent price action on a trading chart. This indicator connects pivot highs and lows with a zigzag line, extends a real-time dashed line to the latest price point, and plots diagonal support/resistance levels that adapt to price movement. These elements together provide traders with a view of significant price zones and potential trend shifts.
Key Components of the Indicator
Pivots are calculated based on user-defined lengths, specifying how many bars on either side of a high or low are required to validate it as a pivot.
Adjustable left and right pivot lengths allow traders to control the sensitivity of pivot detection, with higher values resulting in fewer, more prominent pivots, and lower values increasing sensitivity to price changes.
Zigzag Line
The zigzag line connects consecutive pivot points, filtering out smaller fluctuations and emphasizing the broader direction of price movement.
Users can customize the line's color and thickness to match their preferences, helping them focus on larger trends and potential reversal points.
By linking pivot highs and lows, the zigzag pattern highlights the overall trend and potential points of reversal.
Real-Time Connector Line
A dashed line extends from the last confirmed pivot to the latest price point, providing a real-time, bar-by-bar update of the current price relative to the previous pivot.
This line does not project future price direction but maintains an up-to-date connection with the current price, showing the distance from the last pivot.
Its color and thickness are customizable for improved visibility on the chart.
Dynamic Support and Resistance Levels
The indicator plots dynamic support and resistanc e levels by connecting recent pivot highs and lows, resulting in lines that may appear diagonal rather than strictly horizontal.
These levels move in line with price action, adapting to the natural direction of trends, and offer visual cues where price may encounter support or resistance.
Colors and thickness of these lines can be set individually, allowing traders to adjust visibility according to their preferences.
Enabling these lines gives traders an ongoing reference for critical price boundaries that align more closely with the overall trend.
ניתוח גל
Parabolic (Brachistochrone) Curve IndicatorOverview of the Script
The script is designed to plot an approximation of the Brachistochrone curve between two points on a TradingView chart. The Brachistochrone curve represents the path of fastest descent under gravity between two points not aligned vertically. In physics, this curve is a segment of a cycloid.
Understanding the Brachistochrone Curve
Definition: The Brachistochrone curve is the curve along which a particle will descend from one point to another in the least time under gravity, without friction.
Mathematical Representation: The solution to the Brachistochrone problem is a cycloid, which is the curve traced by a point on the rim of a circular wheel as it rolls along a straight line.
Relevance to Trading: While the Brachistochrone curve originates from physics, plotting it on a price-time chart can offer a unique visual representation of the fastest possible movement between two price levels.
How the Script Works
Inputs
Start and End Bars:
startBar: The number of bars back from the current bar to define the starting point.
endBar: The number of bars back from the current bar to define the ending point.
Curve Customization:
numPoints: The number of points used to plot the curve (affects smoothness).
curveColor: The color of the curve.
curveWidth: The width of the curve lines.
Labels:
showTimeLabels: A toggle to display labels along the curve for reference.
Calculations
Determine Start and End Points:
The script calculates the coordinates (x_start, y_start, x_end, y_end) of the start and end points based on the specified bar offsets.
x_start and x_end correspond to bar indices (time).
y_start and y_end correspond to price levels.
Calculate Differences and Parameters:
Horizontal and Vertical Differences:
delta_x = x_end - x_start
delta_y = y_end - y_start
Ensure Descending Motion:
If the end point is higher than the start point (i.e., delta_y is positive), the script swaps the start and end points to ensure the curve represents a descent.
Cycloid Parameters:
Angle (theta): Calculated using theta = atan(delta_y / delta_x), representing the inclination of the curve.
Radius (R): The radius of the generating circle for the cycloid, calculated with R = delta_x / (π * cos(theta)).
Generate Points Along the Cycloid:
Parameter t: Varies from 0 to t_end, where t_end is set to π to represent half a cycloid (a common segment for the Brachistochrone).
Cycloid Equations:
Horizontal Component (x_t): x_t = R * (t - sin(t))
Vertical Component (y_t): y_t = R * (1 - cos(t))
Adjust Coordinates:
The script adjusts the cycloid coordinates to align with the chart's axes:
x_plot = x_start + x_t * cos(theta)
y_plot = y_start + y_t * sin(theta)
The x_plot values are converted to integer bar indices to match the chart's x-axis.
Plotting the Curve
Drawing Lines:
The script connects consecutive points using lines to form the curve.
It uses the line.new function, specifying the start and end coordinates of each line segment.
Adding Labels (Optional):
If showTimeLabels is enabled, the script places labels at intervals along the curve to indicate progress or parameter values.
Adjustments for Accurate Visualization
Handling Ascending Paths:
To adhere to the physical definition of the Brachistochrone curve, the script ensures that the ending point is below the starting point in terms of price.
If not, it swaps the points to represent a descending path.
Parameter Constraints:
The script ensures that calculations involving trigonometric functions remain within valid ranges to prevent mathematical errors (e.g., division by zero or invalid arguments for acos).
Scaling Considerations:
Adjustments are made to account for the differences in scaling between time (x-axis) and price (y-axis) on the chart.
The script maps spatial coordinates to the chart's axes appropriately.
Limitations and Considerations
Theoretical Nature:
The Brachistochrone curve is a theoretical concept from physics and doesn't necessarily predict actual price movements in financial markets.
Chart Scaling:
The visual appearance of the curve may be affected by the chart's scaling settings. Users may need to adjust the chart's zoom or scale to view the curve properly.
Data Range:
The start and end bars must be within the range of available data on the chart. If the specified bars are out of range, the script may not plot the curve.
Computational Limits:
TradingView imposes limits on the number of drawing objects (lines, labels) that can be displayed. The script accounts for this, but extremely high numPoints values may lead to performance issues.
Usage Instructions
Adding the Indicator:
The script is added to the chart as a custom indicator in TradingView's Pine Script Editor.
Configuring Inputs:
Start and End Bars: Users specify the bar offsets for the start and end points. It's important that the end point is below the start point in price to represent a descent.
Curve Customization: Users can adjust the number of points for smoothness and customize the curve's color and width.
Labels: Users can choose to display or hide labels along the curve.
Observing the Curve:
After configuring the inputs, the curve will be plotted between the two specified points.
Users can observe the curve to understand the theoretical fastest descent between the two price levels.
Potential Applications
Educational Tool:
The script serves as a visual aid to understand the properties of the Brachistochrone curve and cycloid.
Analytical Insights:
While not predictive, the curve might inspire new ways of thinking about price movements, momentum, or acceleration in markets.
Visualization:
It provides a unique way to visualize the relationship between time and price over a specific interval.
Conclusion
The script effectively adapts the mathematical concept of the Brachistochrone curve to a financial chart by carefully mapping spatial coordinates to time and price axes. By accounting for the unique characteristics of TradingView charts and implementing necessary mathematical adjustments, the script plots the curve between two user-defined points, offering a novel and educational visualization.
Wave Anchor IndicatorThe Wave Anchor Indicator is designed to mark the crossing of overbought and oversold levels of higher time frame momentum waves, based on the VuManChu Cipher B+Divergences Wave Trend Indicator. This tool is inspired by the TP Mint trading strategy, which relies heavily on the momentum waves of Market Cipher B or VuManChu Cipher B for identifying optimal entry and exit points.
Key Concept: Anchored Waves
In the TP Mint strategy, momentum waves in overbought (above 60) or oversold (below -60) conditions on higher time frames are considered "anchored." These anchored waves provide strong signals for entries and take-profit points when viewed on lower time frames. The Wave Anchor Indicator focuses on these anchor conditions to help traders make informed decisions by seeing higher time frame anchor states directly on the entry time frame chart.
How It Works
Labeling Signals:
- On lower time frames, such as the 15-minute chart, the indicator shows labels when higher
time frame momentum waves (1-hour and 4-hour) cross the overbought or oversold levels.
- Labels above price indicate overbought conditions, with green labels when the wave crosses
upward and red labels when crossing downward.
- Labels below price signal oversold conditions, with red for a downward cross and green for an
upward cross.
- Each label displays the time frame of the crossing momentum wave, providing context for
traders at a glance.
Time Frame Pairings:
- On the 15-minute time frame, the indicator tracks anchor conditions from the 1-hour and 4-
hour time frames.
- On the 1-hour chart, it monitors 4-hour and daily time frame anchor conditions.
Customization and Alerts
Flexible Display Options : Users can choose to display none, one, or both of the grouped higher time frame labels, depending on their strategy and preferences.
Alerts : The indicator also allows for custom alerts when a label appears, helping traders stay on top of key market movements without constantly monitoring the chart.
Use Cases
This indicator is ideal for traders who use momentum-based strategies across multiple time frames. It simplifies the process of identifying key entry and exit points by focusing on the anchor conditions from higher time frames, making it easier to execute the TP Mint strategy or similar methods.
Thank you to VuManChu and LazyBear for mamking the momentum wave code open source and allowing it’s use in this indicator.
Ultimate Fibonacci Trading Tool [CHE]Ultimate Fibonacci Trading Tool – Your Key to More Precise Trading Decisions!
Description:
Discover the Ultimate Fibonacci Trading Tool , a powerful instrument designed to revolutionize your technical analysis. This tool is crafted to assist traders of all experience levels in better understanding market movements and making informed decisions. By utilizing a higher reference period from the past, it provides you with a clear advantage in identifying critical support and resistance levels.
🌟 Key Features in Detail:
1. Automatic Timeframe Selection:
- Auto Timeframe: The tool automatically detects the optimal higher reference period based on your current chart, providing more precise analysis without additional effort.
- Multiplier Mode: Define the higher timeframe using a multiplier. By default set to 5, this can be adjusted to suit your individual needs.
- Manual Selection: For maximum control, you can manually select the desired timeframe.
2. Customizable Fibonacci Levels:
- Enable/Disable Levels: Toggle specific Fibonacci levels (e.g., 0.236, 0.382, 0.5, 0.618, etc.) on or off to personalize your analysis.
- User-Defined Values: Input custom numerical values for each level to support specialized Fibonacci calculations.
- Color Customization: Choose individual colors for each level to keep your charts clear and visually appealing.
3. Automatic Trend Detection:
- The tool automatically identifies whether the market is in a bullish or bearish trend and adjusts the Fibonacci calculations accordingly, ensuring you always have the most relevant information at hand.
4. Period Separators with Start and Stop Labels:
- Customizable Separator Lines: Visualize the beginning of new time periods with lines that you can customize in style, color, and width.
- Start/Stop Labels: Clear markers help you instantly recognize critical time points and potential trend changes.
5. Flexible Label Management:
- Display Styles: Decide how Fibonacci levels are presented—percentage, price level, or both—so you get the information most important to you.
- Size Adjustment: Modify the size of the labels to optimize readability on your chart.
- Positioning: Place labels where they make the most sense for your analysis.
6. Informative Time Period Display:
- Customizable Info Box: Keep track of the reference period used with a customizable information box displayed directly on your chart.
- Layout Options: Determine the size, position, background, and text colors for seamless integration into your chart environment.
🔧 Detailed Settings Options:
- Timeframe Selection:
- Timeframe Type: Choose between "Auto Timeframe," "Multiplier," or "Manual" to control how the reference period is calculated.
- Multiplier: Set the multiplier when using the "Multiplier" mode; this value determines how many units of the current timeframe are used as the reference.
- Manual Resolution: If "Manual" is selected, you can input the exact timeframe (e.g., "60," "1D," "1W").
- Fibonacci Level Settings:
- Enabling Individual Levels: Toggle each Fibonacci level on or off according to your preference.
- Adjusting Level Values: Enter custom numerical values for each level to perform specialized calculations.
- Color Selection: Choose a unique color for each level to ensure clear differentiation.
- Period Separator Settings:
- Separator Color: Define the color of the separator lines to make them distinctly visible.
- Separator Style: Choose between "Solid," "Dashed," or "Dotted" to adjust the style of the separator lines.
- Separator Width: Set the width of the separator lines to match your chart aesthetics.
- Label Management:
- Label Style: Select how labels are displayed:
- Default: Shows both percentage and price.
- None: No labels are displayed.
- Percentage: Shows only the Fibonacci level percentage.
- Price: Shows only the price at the Fibonacci level.
- Label Size: Adjust the size of the labels (tiny, small, normal, large, huge) for optimal readability.
- Time Period Display:
- Show Time Period: Enable or disable the information box displaying the reference period.
- Size: Choose the size of the information box (tiny, small, normal, large, huge, auto).
- Positioning: Set the vertical (top, middle, bottom) and horizontal (left, center, right) position of the box.
- Color Customization: Select the background and text color of the information box to integrate it into your chart design.
📈 Why Is the Higher Reference Period Important?
The Ultimate Fibonacci Trading Tool leverages a higher reference period from the past to calculate Fibonacci levels. This approach offers several advantages:
- Deeper Market Analysis: By considering longer timeframes, you can uncover major market movements and trends that might be hidden in shorter periods.
- More Accurate Support and Resistance Levels: Higher timeframes provide more robust Fibonacci levels that are observed by many market participants.
- Better Decision-Making Foundation: With a comprehensive view of the market, you can make more informed trading decisions and minimize potential risks.
🎯 How This Tool Enhances Your Trading Strategy:
- Increased Efficiency: Automate complex calculations and save valuable time.
- Personalized Analysis: Adapt the tool to your individual needs and strategies.
- Enhanced Precision: Utilize precise Fibonacci levels to better determine entry and exit points.
- Improved Market Insight: Gain deeper understanding of market trends and structures by using higher timeframes.
🚀 Get Started Now!
Don't miss the opportunity to revolutionize your chart analysis. Integrate the Ultimate Fibonacci Trading Tool into your trading routine and benefit from more precise analyses and improved trading decisions.
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
Chervolino
Alternative Shark Harmonic Pattern [TradingFinder] ALT Shark🔵 Introduction
The Alternative Shark harmonic pattern, similar to the original Shark harmonic pattern introduced by Scott Carney, is a powerful tool in technical analysis used to identify potential reversal zones (PRZ) in financial markets.
These harmonic patterns help traders spot key turning points in market trends by relying on specific Fibonacci ratios. The Alternative Shark pattern is particularly unique due to its distinct Fibonacci retracements within the PRZ, which differentiate it from the standard Shark pattern and provide traders with more precise entry and exit signals.
By focusing on harmonic patterns and utilizing tools like the Harmonic Pattern Indicator, traders can easily identify both the Shark and Alternative Shark patterns, making it easier to find PRZs and capture potential trend reversals. This enhanced detection of potential reversal zones allows for better trade optimization and improved risk management.
Incorporating the Alternative Shark pattern into your technical analysis strategy enables you to enhance your trading performance by identifying market reversals with greater accuracy, improving the timing of your trades, and reducing risks associated with sudden market shifts.
🟣 Understanding the Types of Alternative Shark Pattern
The Alternative Shark harmonic pattern, much like the original Shark pattern, forms at the end of price trends and is divided into two types: Bullish and Bearish Alternative Shark patterns.
Bullish Alternative Shark Pattern :
This pattern typically forms at the end of a downtrend, signaling a potential reversal into an uptrend. Traders can use this pattern to identify buy entry points. The image below illustrates the core components of the Bullish Alternative Shark Pattern.
Bearish Alternative Shark Pattern :
Conversely, the Bearish Alternative Shark Pattern appears at the end of an uptrend and signals a potential reversal to a downtrend. This variation allows traders to adjust their strategies for selling. The image below outlines the characteristics of the Bearish Alternative Shark Pattern.
🟣 Differences Between Shark and Alternative Shark Patterns
Although both patterns share similar structures and serve as tools for identifying price reversals, there is one key difference between them :
AB to XA Ratio : In the Shark pattern, the AB leg retraces between 1 and 2 of the XA leg, whereas in the Alternative Shark pattern, this retracement is reduced to 0.382 to 0.618 of the XA leg. This difference in the retracement ratio leads to slightly different trade signals and can affect the timing of entry and exit points.
Other ratios and reversal signals remain consistent between the two patterns, but this difference in the AB to XA ratio provides traders with more nuanced opportunities to optimize their trades.
🔵 How to Use
🟣 Trading with the Bullish Alternative Shark Pattern
The Bullish Alternative Shark Pattern functions similarly to the traditional Bullish Shark, acting as a reversal pattern that helps traders recognize the end of a downtrend and the beginning of an uptrend.
The main distinction lies in the reduced AB retracement, which can offer more refined entry signals. Once the pattern completes, traders can look to enter buy trades and place a stop-loss below the lowest point of the pattern for effective risk management.
🟣 Trading with the Bearish Alternative Shark Pattern
The Bearish Alternative Shark Pattern operates much like the Bearish Shark pattern but with the adjusted AB to XA ratio. This difference provides traders with unique entry points for sell trades. Once the pattern is fully identified, traders can enter short positions, placing a stop-loss above the highest point of the pattern to safeguard against market fluctuations.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
🔵 Conclusion
The Alternative Shark harmonic pattern, despite its structural similarity to the traditional Shark pattern, introduces a key difference in the AB to XA ratio, making it a valuable addition to the trader’s toolkit. This subtle variation enables traders to pinpoint reversal points with greater accuracy and fine-tune their trading strategies.
As with any technical pattern, it is crucial to use the Alternative Shark pattern in combination with other technical indicators and strong risk management practices. Incorporating this pattern into a broader trading strategy can help traders enhance their ability to detect and capitalize on market reversals more effectively.
Motive Wave Scanner [Trendoscope®]Motive Wave Scanner is a simple algorithm to find out motive waves as per the rules of Elliott Wave theory.
It is an extension to our previous open source script Interactive Motive Wave Checklist which provides interactive capability to select six points of a five wave formation. Once users select them, the rules of motive waves are applied to manually selected points to highlight them as either diagonal wave, motive wave or none.
This indicator does the same. But, instead of requesting the pivots manually from the user, the indicator automatically picks and scans them through zigzag.
We have already published a similar script as protected source. But, due to some changes in the pine engine, there have been few issues in the runtime. In this publication, we not only address those runtime issues but also making it open source for the users to make use of the source code and enhance it further.
🎲 What are motive waves
Motive waves are strong upward or downward movement with 5 subwaves.
Motive Wave in the upward direction will start with Swing High, Ends with Swing High and consists of 3 Higher Highs and 2 Higher Lows representing strong upward trend.
Motive Wave in the downward direction will start with Swing Low, Ends with Swing low and consists of 3 Lower Lows and 2 Lower Highs representing strong downward trend.
🎲 Types of Motive Waves
Motive Waves are broadly classified by two types:
Impulse Waves
Diagonal Waves
Diagonal Waves are further classified into Contracting and Expanding Diagonals. These can fall into the category of either leading diagonal and ending diagonal.
🎲 Rules of Motive Waves
🎯 Generic Rule of any motive waves are as follows
Should consist of 5 alternating waves. (Swing High followed by Swing low and vice versa)
This can start from Swing High and end in Swing High or start from Swing Low and end in Swing Low of a zigzag.
Wave-2 should not move beyond Wave-1. This means, the Wave-2 is always shorter than Wave-1 with respect to distance between the price of start and end.
Wave-3 always moves beyond Wave-1. This means, the Wave-3 is always longer than Wave-2 in terms of price
Among Wave-1, Wave-3, and Wave-5, Wave-3 is never the shortest one. This means, either Wave-1 or Wave-5 can be longer than Wave-3 but not both. Wave-3 can also be longest among the three.
Here is the pictorial representation of the rules of the Motive Waves
For a wave to be considered as motive wave, it also needs to follow the rules of either impulse or diagonal waves.
🎯 Rules for a 5 wave pattern to be considered as Impulse Wave are:
Wave-4 never overlaps with Wave-1 price range
Wave-1, Wave-3 and Wave-5 should not be either expanding or contracting. Meaning, we cannot have Wave-1 > Wave-3 > Wave-5 , and we cannot have Wave-1 < Wave-3 < Wave-5
Pictorial representation of the impulse wave rules are as below:
🎯 Rules for the Diagonal Waves are as follows
Contrary to the first rule of impulse wave, in case of diagonal wave, Wave-4 always overlaps with Wave-1 price range. But, it will not go beyond Wave-3
Waves are progressively expanding or contracting - Wave1 > Wave3 > Wave5 and Wave2 > Wave4 to be contracting diagonal. Wave1 < Wave3 < Wave5 and Wave2 < Wave4 to be expanding diagonal wave.
Pictorial representation of the Contracting Diagonal Wave is as below. Here, the Wave-1, Wave-3 and Wave-5 are in contracting formation.
Pictorial representation of the Expanding Diagonal Wave is as below. Here, the Wave-1, Wave-3 and Wave-5 are in expanding formation.
🎲 Indicator Settings
Indicator settings are defined as below:
Repaint Warning : If Repaint is selected, the indicator will throw a runtime error after certain bars or when alerts are set. This is due to some pine internal issue. At present, we do not have any solution for this until the internal issue is resolved by Tradingview Pine Team.
Cypher Harmonic Pattern [TradingFinder] Cypher Pattern Detector🔵 Introduction
The Cypher Pattern is one of the most accurate and advanced harmonic patterns, introduced by Darren Oglesbee. The Cypher pattern, utilizing Fibonacci ratios and geometric price analysis, helps traders identify price reversal points with high precision. This pattern consists of five key points (X, A, B, C, and D), each playing an important role in determining entry and exit points in the financial markets.
The reversal point typically occurs in the XD region, with the Fibonacci ratio ranging between 0.768 and 0.886. This zone is referred to as the Potential Reversal Zone (PRZ), where traders anticipate price changes to occur.
The Cypher harmonic pattern is popular among professional traders due to its high accuracy in identifying market trends and reversal points. The pattern appears in two forms: bullish Cypher pattern and bearish Cypher pattern.
In the bullish Cypher pattern, after a price correction, the price moves upward, while in the bearish Cypher pattern, the price moves downward after a temporary increase. These patterns help traders use technical analysis to identify strong reversal points in the PRZ and execute more optimal trades.
Bullish Cypher Pattern :
Bearish Cypher Pattern :
🔵 How to Use
The Cypher pattern is one of the most complex and precise harmonic patterns, leveraging Fibonacci ratios to help traders identify price reversals. This pattern is comprised of five key points, each playing a critical role in determining entry and exit points.
The Cypher pattern appears in two main types :
Bullish Cypher pattern : This pattern appears as an M shape on the chart and indicates a trend reversal to the upside after a price correction. Traders can prepare for buying after identifying this pattern in technical analysis.
Bearish Cypher pattern : This pattern appears as a W shape and signals the start of a downtrend after a temporary price increase. Traders can use this pattern to enter short positions.
🟣 How to Identify the Cypher Pattern on a Chart
Identifying the Cypher pattern requires precision and the use of advanced technical analysis tools. The pattern consists of four main legs, each identified using Fibonacci ratios and geometric analysis.
To spot the Cypher pattern on a chart, first, identify the five key points : X, A, B, C, and D.
XA leg : The initial move from point X to A.
AB leg : The first correction after the XA move, where the price moves to point B.
BC leg : After the correction, the price moves upwards to point C.
CD leg : The final price move that reaches point D, where a price reversal is expected.
In a bullish Cypher pattern, point D indicates the start of a new uptrend, while in a bearish Cypher pattern, point D signals the beginning of a downtrend. Correctly identifying these points helps traders determine the best time to enter a trade.
🟣 How to Trade Using the Cypher Pattern
Once the Cypher pattern is identified on the chart, traders can use it to set entry and exit points. Point D is the key point for trade entry. In the bullish Cypher pattern, the trader can enter a long position after point D forms, while in the bearish Cypher pattern, point D serves as the ideal point for entering a short position.
🟣 Entering a Buy Trade with the Bullish Cypher Pattern
In a bullish Cypher pattern, traders wait for the price to reach point D, after which they can enter a buy position. At this point, the price is expected to start rising.
🟣 Entering a Sell Trade with the Bearish Cypher Pattern
In a bearish Cypher pattern, the trader enters a sell position at point D, expecting the price to move downward after reaching this point. For additional confirmation, traders can use technical indicators such as RSI or MACD.
🟣 Risk Management in Cypher Pattern Trades
Risk management is one of the most critical aspects of any trade, and this holds true for trading the Cypher pattern. Traders should always use stop-loss orders to prevent larger losses in case the pattern fails.
In the bullish Cypher pattern, the stop-loss is usually placed slightly below point D to exit the trade if the price continues to drop.
In the bearish Cypher pattern, the stop-loss is placed above point D to limit losses if the price rises unexpectedly.
🟣 Combining the Cypher Pattern with Other Technical Tools
The Cypher pattern is a powerful tool in technical analysis, but combining it with other methods such as price action and technical indicators can improve trading accuracy.
🟣 Combining with Price Action
Traders can use price action to confirm the Cypher pattern. Candlestick patterns like reversal candlesticks can provide additional confirmation for price reversals at point D.
🟣 Using Technical Indicators
Incorporating technical indicators such as RSI and MACD can also help traders receive stronger signals for entering trades based on the Cypher pattern. These indicators help identify overbought or oversold conditions, allowing traders to make more informed decisions.
🟣 Advantages and Disadvantages of the Cypher Pattern in Technical Analysis
Advantages :
High accuracy : The Cypher pattern, using Fibonacci ratios and geometric analysis, provides high precision in identifying reversal points.
Applicable in various markets : This pattern can be used in a wide range of financial markets, including forex, stocks, and cryptocurrencies.
Disadvantages :
Rarit y: The Cypher pattern appears less frequently on charts compared to other harmonic patterns.
Complexity : Accurately identifying this pattern requires significant experience, which may be challenging for novice traders.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Forma t: If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
🔵 Conclusion
The Cypher harmonic pattern is one of the most powerful and accurate patterns used in technical analysis. Its high precision in identifying price reversal points, particularly within the Potential Reversal Zone (PRZ), has made it a popular tool among professional traders. The PRZ, located between the Fibonacci ratios of 0.768 and 0.886 in the XD region, offers traders a clear indication of where price reversals are likely to occur.
However, to use this pattern successfully, traders must employ proper risk management and combine it with supplementary tools like technical indicators and price action. By understanding how to utilize the PRZ, traders can enhance the accuracy of their trade entries and exits.
Ultimately, the Cypher pattern, when used in conjunction with the PRZ, helps traders make more precise decisions in the financial markets, leading to more successful and well-informed trades.
Qualitative and Quantitative Candlestick Score [CHE] Qualitative and Quantitative Candlestick Score
Overview
The Qualitative and Quantitative Candlestick Score is a powerful indicator for TradingView that combines both qualitative and quantitative analyses of candlestick patterns. This indicator provides traders with a comprehensive assessment of market conditions to make informed trading decisions.
Key Features
- Quantitative Analysis: Calculates a quantitative score based on the price movement of each candle.
- Qualitative Analysis: Evaluates candles based on body size, wick size, trend, and trading volume.
- Cumulative Scores: Displays cumulative green (bullish) and red (bearish) scores over a defined period.
- Trend Analysis: Identifies trend direction, strength, and provides trading recommendations (Long/Short).
- Customizable Settings: Adjust parameters for time periods, thresholds, and volume analysis.
Settings and Customizations
1. Time Period Settings:
- Period: Number of periods to calculate moving averages and cumulative scores (Default: 14).
2. Qualitative Evaluation:
- Body Size Threshold (%): Minimum size of the candle body to be considered significant (Default: 0.5%).
- Wick Size Threshold (%): Maximum size of the wicks to be considered minimal (Default: 0.3%).
3. Volume Settings:
- Include Volume in Evaluation: Whether to include trading volume in the qualitative score (Default: Enabled).
- Volume MA Period: Number of periods to calculate the moving average of volume (Default: 14).
4. Trend Settings:
- Moving Average Length: Number of periods for the Simple Moving Average used to determine the trend (Default: 50).
Calculations and Visualizations
- Quantitative Score: Difference between the closing and opening price, normalized to the opening price.
- Qualitative Score: Evaluation based on body size, wick size, trend, and volume.
- Cumulative Scores: Average of green and red scores over the defined period.
- Score Difference: Difference between cumulative green and red scores to determine trend direction.
- Trend Analysis Table: Displays trend direction, trend strength, and trading recommendation in an easy-to-read table.
Plotting and Display
- Cumulative Scores: Displays cumulative green and red scores in green and red colors.
- Score Difference: Blue line chart to visualize the difference between green and red scores.
- Zero Line: Horizontal gray line as a reference point.
- Trend Analysis Table: Table in the top right of the chart showing current trend direction, strength, and trading recommendation.
Use Cases
- Trend Identification: Use the score difference and trend analysis table to quickly assess the current market sentiment.
- Trading Recommendations: Based on the table, decide whether a long or short entry is appropriate.
- Volume Analysis: Including volume helps to better understand the strength of a trend.
Benefits
- Comprehensive Analysis: Combines quantitative and qualitative methods for a deeper market analysis.
- User-Friendly: Easy parameter adjustments allow for personalized use.
- Visually Appealing: Clear charts and tables facilitate data interpretation.
- Flexible: Adaptable to various trading strategies and timeframes.
Installation and Usage
1. Installation:
- Copy the provided Pine Script code.
- Go to TradingView and open the Pine Script Editor.
- Paste the code and save the script.
- Add the indicator to your chart.
2. Customization:
- Adjust the parameters according to your trading preferences.
- Monitor the cumulative scores and the trend analysis table for trading decisions.
Conclusion
The Qualitative and Quantitative Candlestick Score offers a comprehensive analysis of market conditions by combining quantitative and qualitative evaluation methods. With its user-friendly settings and clear visualizations, this indicator is a valuable tool for traders seeking informed and precise trading decisions.
Best regards and happy trading
Chervolino
Developed by: Chervolino
Version: 1.0
License: Free to use and customize on TradingView.
For any questions or feedback, feel free to contact me through the TradingView community.
Note: This indicator is a tool to assist with trading decisions and does not replace professional financial advice. Use it responsibly and thoroughly test it before incorporating it into your trading strategies.
Inamdar Wave - Winning Wave
The **"Inamdar Wave"**, also known as the **"Winning Wave"**, is a cutting-edge market indicator designed to help traders ride the waves of momentum and capitalize on high-probability opportunities. With its unique ability to adapt to market shifts, the Inamdar Wave ensures you're always in sync with the market's most profitable moves, making it an indispensable tool for traders looking for consistent success.
### Key Features of the "Inamdar Wave":
1. **Dynamic Market Movement Detection**:
- The **Inamdar Wave** tracks the market’s momentum and identifies clear waves of movement, allowing traders to catch both upswings and downswings with ease.
- This indicator dynamically adjusts based on price action and volatility, ensuring you're always aligned with the market’s natural flow.
- Whether the market is trending or ranging, the **Inamdar Wave** keeps you on the right path, helping you surf the market's waves effortlessly.
2. **Highly Profitable Buy/Sell Signals**:
- The **Inamdar Wave** generates precise buy and sell signals that guide you to the most profitable entry and exit points.
- Its built-in filters ensure you avoid market noise, focusing only on high-probability trades that maximize your potential for profit.
- You’ll confidently enter trades at the start of each new wave, ensuring you ride the momentum for maximum gains.
3. **Visual Wave Highlighting**:
- Color-coded zones help you easily spot bullish (upward) and bearish (downward) waves.
- Green highlights signal upward waves, while red zones indicate downward waves, making it visually simple to recognize the current market direction.
- This feature allows for quick decision-making and a clear understanding of the market's direction at a glance.
4. **Tailored for Any Market Condition**:
- Whether you’re trading a calm or highly volatile market, the **Inamdar Wave** adapts to the changing conditions, ensuring consistent performance across all environments.
- Its flexibility allows it to work seamlessly with any asset class—stocks, forex, crypto, or commodities—making it an all-in-one solution for traders.
- The **Inamdar Wave**'s real-time adjustments keep it relevant regardless of market conditions or timeframes.
5. **Real-Time Alerts**:
- Get instant alerts when a new wave begins, whether it's a buy, sell, or wave reversal.
- You’ll never miss out on a profitable opportunity with real-time notifications that keep you one step ahead of the market.
- These alerts help you act quickly, maximizing the potential of every market movement.
### Inputs:
- **Wave Period**: Customize the sensitivity of the wave detection with adjustable periods to suit your trading style.
- **Signal Source**: Choose from different price sources to fine-tune how the **Inamdar Wave** reacts to market movements.
- **Signal Strength**: Control the sensitivity of wave detection to focus on only the strongest and most profitable moves.
- **Buy/Sell Signals**: Easily toggle buy/sell signals on your chart for enhanced clarity.
- **Wave Highlighting**: Turn visual wave highlights on or off, depending on your preference.
### Use Case:
The **Inamdar Wave** is perfect for traders looking to capture the most profitable waves in any market. Whether you're a short-term scalper or a long-term trend follower, this indicator keeps you in sync with the market’s natural rhythm, ensuring that you're always riding the winning wave. With its powerful buy/sell signals and dynamic wave detection, you'll be better positioned to take advantage of market momentum and secure consistent profits.
In conclusion, the **"Inamdar Wave"** is not just another indicator—it’s your key to riding the market’s most profitable waves with precision and confidence. By following the signals and staying in tune with the market’s natural flow, you’ll be able to maximize your gains and minimize your risks, ensuring a successful trading journey.
TechniTrend: Dynamic Local Fibonacci LevelsTechniTrend: Dynamic Local Fibonacci Levels
Description: The "Dynamic Local Fibonacci Levels" indicator dynamically displays Fibonacci levels only when the market is experiencing significant volatility. By detecting volatile price movements, this tool helps traders focus on Fibonacci retracement levels that are most relevant during high market activity, reducing noise from calm market periods.
Key Features:
Adaptive Fibonacci Levels: The indicator calculates and plots Fibonacci levels (from 0 to 1) only during periods of high volatility. This helps traders focus on actionable levels during significant price swings.
Customizable Chart Type: Users can choose between Candlestick charts (including shadows) or Line charts (excluding shadows) to determine the high and low price points for Fibonacci level calculations.
Volatility-Based Detection: The Average True Range (ATR) is used to detect significant volatility. Traders can adjust the ATR multiplier to fine-tune the sensitivity of the indicator to price movements.
Fully Customizable Fibonacci Levels: Traders can modify the default Fibonacci levels according to their preferences or trading strategies.
Real-Time Volatility Confirmation: Fibonacci levels are displayed only if the price range between the local high and low exceeds a user-defined volatility threshold, ensuring that these levels are only plotted when the market is truly volatile.
Customization Options:
Chart Type: Select between "Candles (Includes Shadows)" and "Line (Excludes Shadows)" for detecting price highs and lows.
Length for High/Low Detection: Choose the period for detecting the highest and lowest price in the given time frame.
ATR Multiplier for Volatility Detection: Adjust the sensitivity of the volatility threshold by setting the ATR multiplier.
Fibonacci Levels: Customize the specific Fibonacci levels to be displayed, from 0 to 1.
Usage Tips:
Focus on Key Levels During Volatility: This indicator is best suited for periods of high volatility. It can help traders identify potential support and resistance levels that may be more significant in turbulent markets.
Adjust ATR Multiplier: Depending on the asset you're trading, you might want to fine-tune the ATR multiplier to better suit the market conditions and volatility.
Recommended Settings:
ATR Multiplier: 1.5
Fibonacci Levels: Default levels set to 0.00, 0.114, 0.236, 0.382, 0.5, 0.618, 0.786, and 1.0
Length for High/Low Detection: 55
Use this indicator to detect key Fibonacci retracement levels in volatile market conditions and make more informed trading decisions based on price dynamics and volatility.
Big 5 Checklist | XEONEDIAThe Big 5 Checklist | XEONEDIA indicator is a powerful trading tool designed to help traders prepare their trading decisions in a structured and effective manner. The indicator encompasses five key areas:
Strategy Documentation :
✅ Ensure that the trading strategy is clearly defined and documented.
✅ Conduct backtesting.
✅ Perform demo testing with an 80% success rate.
✅ Analyze trading results.
✅ Regularly refine the strategy.
Risk Management :
✅ Minimize financial losses and ensure responsible trading.
✅ Set a risk limit of 1-2%.
✅ Use stop-loss orders.
✅ Ensure a risk-reward ratio of at least 2:1.
✅ Adjust position sizes.
Technical Analysis :
✅ Evaluate charts and indicators to identify trading opportunities.
✅ Identify support and resistance levels.
✅ Use technical indicators (e.g., RSI).
✅ Set entry and exit points.
✅ Establish alerts for specific market conditions.
Market Conditions :
✅ Consider external factors that may influence trading.
✅ Monitor the economic calendar.
✅ Apply fundamental analysis.
✅ Observe market volatility.
✅ Analyze global trends.
Psychological Management :
✅ Control emotions and mindset during trading.
✅ Adhere to the trading plan.
✅ Manage emotions while trading.
✅ Set realistic expectations.
✅ Take regular mental breaks.
Mastercheck
The Mastercheck provides a digital checklist where traders can track their progress live. Users can make their own notes and view their checklist on any TradingView device, ensuring they stay informed about their trading readiness and can make adjustments in real-time. ✅
Overall, the Big 5 Checklist | XEONEDIA indicator helps minimize risks and maximize the chances of successful trades by promoting systematic and comprehensive trading preparation.
MCDX+RSI+SMA[THANHCONG]### Detailed Analysis of the MCDX+RSI+SMA Indicator
The MCDX+RSI+SMA indicator is designed to help investors conduct a deeper analysis of market trends by combining multiple technical factors into a single chart. This integration of popular indicators such as RSI, SMA, and Stochastic RSI provides investors with a comprehensive view of market movements, particularly in distinguishing between "Banker" and "Hot Money"—representing large and small capital flows.
#### Key Components of the Indicator:
1. **RSI for Banker and Hot Money:**
- **RSI (Relative Strength Index)** is a momentum oscillator that measures the speed and change of price movements, indicating overbought or oversold conditions. In this indicator, there are two distinct RSI lines configured for Banker (large capital) and Hot Money (small capital).
- Investors can adjust parameters like the RSI calculation period, baseline levels, and sensitivity for each type of capital flow, providing flexibility to adapt to varying market conditions.
2. **Moving Average (MA) of RSI:**
- The indicator employs two common types of Moving Averages: **SMA (Simple Moving Average)** and **EMA (Exponential Moving Average)**. These help smooth the RSI signals for Banker, offering a clearer view of the long-term trend of large capital in the market.
- Investors can select the type and period of the MA, allowing them to optimize the indicator for their trading style.
3. **Stochastic RSI:**
- The **Stochastic RSI** is incorporated to monitor overbought and oversold conditions over a specified timeframe. Parameters related to %K and %D of the Stochastic can also be adjusted to refine the accuracy of market signal analysis.
- A notable feature is the normalization of %K and %D on a 0-20 scale, making these lines compatible with other RSI charts, thus providing consistency in evaluating market strength.
4. **Overbought and Oversold Levels:**
- The indicator includes reference lines for overbought and oversold levels, aiding investors in identifying potential reversal zones in the market. This helps to avoid buying at excessively high prices or selling at excessively low prices.
#### Benefits for Investors:
- **Comprehensive View:** The indicator combines insights from both large (Banker) and small (Hot Money) capital flows, enabling investors to analyze not just trends but also the participation of each type of capital in the market.
- **Enhanced Technical Analysis:** By integrating multiple technical indicators within a single chart, investors can track important factors such as market momentum, overbought/oversold conditions, and capital flow shifts without needing to switch between various charts.
- **Flexibility and Customization:** The indicator allows adjustment of key parameters like the RSI period, sensitivity, type of MA, and Stochastic RSI settings, enabling investors to tailor the indicator to their trading strategy and timeframe.
- **Higher Reliability:** The combination of indicators like RSI, Stochastic RSI, and MA helps investors confirm trading signals more confidently. For instance, when both RSI and Stochastic RSI indicate overbought conditions, the likelihood of a reversal may be higher, reducing risk for investors.
#### Unique Features of the Indicator:
The MCDX+RSI+SMA indicator is a unique tool that integrates various market analysis factors into a single framework. This not only provides investors with a complete view of capital flows but also aids in optimizing decision-making based on multiple market aspects. Furthermore, its customizable parameters make it suitable for various trading strategies, from short-term to long-term.
Absolute ZigZagThis ZigZag Indicator is a bit unique in it's kind.
It uses my own Absolute ZigZag Lib to calculate the pivots:
Instead of using percentages or looking more than 1 bar left or right, this Zigzag library calculates pivots by just looking at the current bar highs and lows and the ones of one bar earlier. This is a very fast and accurate way of calculating pivots.
The library also features a solution for bars that have both a higher high and a higher low like seen below.
You can also use your own colors for the labels and the lines:
You can also quickly select a one-colored theme without changing all colors at once:
Market Structure Inducements ICT [TradinFinder] CHoch BOS Sweeps🔵 Introduction
Market Structure is the foundation for identifying trends in the market, crucial in technical analysis and strategies like ICT and SMC. Understanding key concepts such as Break of Structure (BOS) and Change of Character (CHOCH) helps traders recognize critical shifts in the market. BOS, referring to a Market Structure Change (BMS), and CHOCH or Market Structure Shift (MSS) signal trend reversals in the market.
Additionally, the concept of Inducement, a vital tool in Smart Money strategies, allows traders to avoid price traps. Identifying valid pullback, valid inducement, POI, and Liquidity Grab helps traders find optimal entry and exit points and leverage Smart Money movements effectively.
Bullish Market Structure :
Bearish Market Structure :
🔵 How to Use
The Market Structure indicator is designed to help traders better understand market structure and detect price traps. By using this indicator, you can identify the right entry and exit points based on structural changes in the market and avoid unprofitable trades. Below, we explain the key concepts and how to apply them in trading.
🟣 Market Structure
Market Structure refers to the overall pattern of price movement in the market. Using this indicator, traders can identify uptrends and downtrends and make better trading decisions based on changes in market structure. The two key concepts here are Break of Structure (BOS) and Change of Character (CHOCH).
Change of Character (CHOCH) : CHOCH occurs when the market shifts from an uptrend to a downtrend or vice versa. These changes typically indicate a broader trend reversal, and the indicator assists you in identifying them accurately.
Break of Structure (BOS) : When the market breaks a key support or resistance level, it signals a change in market structure. This indicator helps you identify these breakouts in time and take advantage of trading opportunities.
🟣 Inducement
Inducement refers to price traps set by Smart Money to trick retail traders into making the wrong trades. This indicator helps you recognize these traps and avoid unprofitable trades.
Valid Inducement : Valid Inducement refers to deliberately created price traps by major market players to gather liquidity from retail traders. Once the market has collected sufficient liquidity, it makes the real move, and professional traders use this moment to enter.
🟣 Valid Pullback
A Valid Pullback refers to a temporary market retracement, indicating a price correction within the main trend. This concept is crucial in technical analysis as it helps traders enter trades at the right time and profit from the continuation of the trend. The Market Structure indicator can identify these valid retracements, allowing traders to enter trades with greater confidence.
🟣 Point of Interest (POI)
Another important concept in market analysis is the Point of Interest (POI), referring to key price areas on the chart. POI includes zones where significant price movements are likely to occur. The Market Structure indicator helps you locate these key points and use them as entry signals for trades.
🟣 Liquidity Grab
Liquidity Grab refers to a scenario where the market intentionally moves to areas where retail traders' stop losses are placed. The goal is to gather liquidity, allowing major players to execute trades at better prices. By using this indicator, you can spot these liquidity grabs and avoid falling into price traps.
🔵 Setting
ChoCh Detector Period : The period of identifying the major market levels that occur when they break ChoCh.
BoS & Liquidity Detector Period : The period of identifying minor levels, which are used to identify BoS and Liquidity levels.
Inducement Detector Period : The period of identification of Inducement levels.
Fast Trend Detector : This feature will help you update the major market structure levels sooner.
Inducement Type Detector : Two modes "Sweeps" and "Total" can be used to identify the levels of Inducement. In "Sweeps" mode only Levels detected by touch shadow. In "Total" mode, all Levels are detected.
🔵 Conclusion
In financial market analysis and forex trading, identifying Market Structure and Inducement is crucial. Market Structure helps you detect uptrends and downtrends, and understand Break of Structure (BOS) and Change of Character (CHOCH). The concept of Inducement also enables traders to spot Smart Money price traps and avoid unprofitable trades.
The Market Structure indicator is a powerful tool that, by analyzing the market structure and concepts like valid pullback and valid inducement, helps you make more precise trade entries. Additionally, by identifying POI and Liquidity Grab, the indicator gives you the ability to spot key market zones and use them to your advantage in trading.
Volume Wave Trend ConfirmationUtility of the Indicator
The core utility of this indicator lies in its ability to utilize volume, a less frequently exploited metric in MACD analysis, providing several strategic advantages:
Trend Confirmation: By focusing on volume, the indicator confirms whether movements in price are backed by significant trading activity. A rising MACD line above the signal line, paired with increasing volume, can confirm the strength of an uptrend. Conversely, if the histogram turns negative while the MACD line falls below the signal line during a price drop, it confirms a robust downtrend.
Early Warning Signals: Changes in the histogram and divergences between the MACD and Signal lines can serve as early warnings of potential reversals or slowdowns in market momentum. For instance, a shrinking histogram in an uptrend might suggest that the upward movement is losing steam.
Market Sentiment: The integration of volume into the MACD framework allows the indicator to provide insights into underlying market sentiment. Higher volumes during price movements indicate stronger conviction among traders, making the trend more reliable.
Indicator Functionality
The "Volume Wave Trend Confirmation" indicator is built on the Moving Average Convergence Divergence (MACD) framework, but with a unique twist: it uses the smoothed moving averages (SMA) of trading volumes instead of price. The indicator calculates two specific SMAs of the volume — a shorter 33-period SMA and a longer 100-period SMA — and computes their difference. This difference is then used as the input for the MACD calculation, with typical parameters set at 12, 26, and a signal line of 9.
MACD Line (Blue): Represents the main line, calculated as the difference between the 12-period and 26-period exponential moving averages (EMA) of the volume difference.
Signal Line (Orange): A 9-period EMA of the MACD line, acting as a trigger for buy or sell signals.
Histogram (Blue/Purple): Measures the distance between the MACD line and the Signal line, colored blue when positive (above the Signal line) and purple when negative (below the Signal line).
Gaussian Filter [BigBeluga]The Gaussian Filter - BigBeluga indicator is a trend-following tool that uses a Gaussian filter to smooth price data and identify directional shifts in the market. It provides dynamic signals for entering and exiting trades based on trend changes, helping traders stay aligned with the market's momentum. What sets this indicator apart is its ability to display precise entry and exit points with real-time tracking of percentage price changes, making it ideal for trend-based strategies.
SP500:
NIFTY50:
🔵 KEY FEATURES & USAGE
◉ Gaussian Filter Trend Line:
//@function GaussianFilter is used for smoothing, reducing noise, and computing derivatives of data.
//@param src (float) The source data (e.g., close price) to be smoothed.
//@param params (GaussianFilterParams) Gaussian filter parameters that include length and sigma.
//@returns (float) The smoothed value from the Gaussian filter.
gaussian_filter(float src, params) =>
var float weights = array.new_float(params.length) // Array to store Gaussian weights
total = 0.0
pi = math.pi
for i = 0 to params.length - 1
weight = math.exp(-0.5 * math.pow((i - params.length / 2) / params.sigma, 2.0))
/ math.sqrt(params.sigma * 2.0 * pi)
weights.set(i, weight)
total := total + weight
for i = 0 to params.length - 1
weights.set(i, weights.get(i) / total)
sum = 0.0
for i = 0 to params.length - 1
sum := sum + src * weights.get(i)
sum
The core functionality of the Gaussian Filter line is to show trend direction. When the trend line increases four times consecutively, it indicates an uptrend signal. Similarly, if it decreases four times in a row, it signals a downtrend. The smoothness of the filter helps traders stay on the right side of the market by filtering out noise and emphasizing the dominant trend direction.
◉ Entry and Exit Levels with Real-Time Price and Performance Data:
Each time the indicator detects a trend change, it plots an entry or exit level on the chart. For an uptrend, an entry level is marked, and for a downtrend, an exit level is plotted. These levels display the price at the time of the signal.
While the trend is ongoing, the indicator tracks the percentage change in price from the initial entry or exit signal to the current bar, updating in real-time. When a trend concludes, it displays the total percentage change from the entry or exit point to the trend's end. This feature provides valuable insights into how much the price has moved during each trend phase and allows traders to monitor the performance of each trade.
◉ Color-Coded Candlestick Representation with Trend Shift Alerts:
In addition to coloring the candlesticks based on the trend direction, the indicator also uses gray candles to highlight potential early trend shifts. For example, if the Gaussian Filter detects a downtrend but the price moves above the filter line, the candles turn gray, signaling a possible reversal or shift in momentum. Similarly, in an uptrend, if the price moves below the Gaussian Filter line, the candles turn gray as an early indication of potential bearish momentum. This visual cue helps traders stay alert to possible faster shifts in market direction, allowing for quicker decision-making.
🔵 CUSTOMIZATION
Length and Sigma for Gaussian Filter:
Adjust the length and sigma parameters to control how the Gaussian Filter smooths the price data. A longer length provides smoother trend lines, while adjusting sigma can fine-tune the level of smoothing applied.
Levels Display and Candle Coloring:
You can toggle the visibility of entry and exit levels as well as enable or disable the dynamic coloring of candlesticks based on the trend direction. The additional gray color setting provides an extra layer of information, allowing you to spot potential trend reversals early.
🔵 CONCLUSION
The Gaussian Filter indicator is a powerful tool for identifying and following market trends. By providing clear entry and exit signals, along with real-time tracking of price changes, it gives traders a structured way to manage trades and monitor performance. The color-coded candles, including gray to highlight possible trend shifts, add another dimension to visualizing market dynamics. The added flexibility of customizing colors and trend levels makes it a versatile indicator suitable for both trend-following and reversal strategies.
COMBINED EMA & SMA + DOUBLE DEMA, $TOTAL 1W / 5D -- Ruslan CRYPTOCAP:TOTAL
This Pine Script indicator, **"EMAS"**, provides an enhanced visualization of multiple types of moving averages, including both **Exponential Moving Averages (EMA)**, **Simple Moving Averages (SMA)**, and **Double Exponential Moving Averages (DEMA)**. It allows the user to observe the relationship between these different types of moving averages and apply regime-based coloring to price bars based on the comparison between the EMAs and DEMAs.
#### Key Features:
1. **EMA & SMA:**
- **EMA (Exponential Moving Average):** Calculated using a customizable lookback period (default 17), the EMA places greater weight on more recent prices, making it react faster to price changes.
- **SMA (Simple Moving Average):** Uses an equal-weighted average over a customizable lookback period (default 14), providing a slower-moving average compared to the EMA.
2. **DEMA (Double Exponential Moving Average):**
- Two separate DEMA lines are plotted using different lookback periods (default 2 and 14). The DEMA is a smoother and faster-responding version of the EMA, intended to reduce lag while retaining trend-following characteristics.
3. **Combined Signals:**
- The script calculates ratios between EMA/SMA (`comb`) and DEMA1/DEMA2 (`combd`) to generate a **regime-based bar coloring system**:
- If `combd > comb`: The bars are colored **green**, indicating that DEMAs are outperforming the EMAs, potentially signaling a stronger trend or momentum.
- If `comb > combd`: The bars are colored **red**, suggesting that the EMAs are dominant, which may indicate a different phase of the market.
4. **Signal SMA:**
- A 21-period **SMA** is plotted as a general trend-following signal. It provides a broader perspective on the current price trend, helping to smooth out short-term fluctuations.
5. **Customizable Options:**
- **"Show MAs?"**: The user has the option to toggle the display of the EMA, SMA, and DEMA lines on or off.
- **Custom Period Inputs**: Each type of moving average can have its period length customized via the input settings for better adaptability to different market conditions.
#### How to Use the Indicator:
- **Trend Following**:
The **EMA, SMA, and DEMA** values can help you determine the direction of the trend. When the EMA is above the SMA, it could indicate a stronger, more recent upward momentum. Similarly, DEMA comparisons provide smoother and faster trend signals.
- **Bar Coloring Regime**:
The **bar color** gives a quick visual cue of the regime:
- **Green bars** suggest that DEMAs are indicating stronger bullish or bearish signals compared to the EMAs.
- **Red bars** imply the opposite, where EMAs may be showing stronger signals, but possibly with more noise or lag.
- **Signal SMA**:
The **21-period SMA** line can be used as a simple trend indicator. When the price is above this line, it could signify an uptrend, while price movement below the line might indicate a downtrend.
#### Custom Inputs:
- **EMA Length**: Default is 17, but can be adjusted to fit your trading style.
- **SMA Length**: Default is 14.
- **DEMA Lengths**: Two customizable inputs for DEMA (default 2 and 14).
- **Source Selection**: You can choose which price source (close, open, high, low, etc.) to use for each calculation (default is the closing price).
#### Conclusion:
This indicator is useful for traders who wish to blend **trend-following strategies** (using EMA, SMA, and DEMA) with **visual regime indicators** (bar coloring). It is highly customizable, allowing traders to adjust settings based on their market approach. The combination of EMAs and DEMAs provides a nuanced view of price dynamics, potentially leading to better-informed trading decisions.
Auto Fib Retracement [Syafiq.Jr]This TradingView script is an advanced indicator titled "Auto Fib Retracement Neo ." It's designed to automatically plot Fibonacci retracement levels on a price chart, aiding in technical analysis for traders. Here's a breakdown of its functionality:
Core Functionality :
The script identifies pivot points (highs and lows) on a chart and draws Fibonacci retracement lines based on these points. The lines are dynamic, updating in real-time as the market progresses.
Customizable Inputs :
Depth: Determines the minimum number of bars considered in the pivot point calculation.
Deviation: Adjusts the sensitivity of the script in identifying new pivots.
Fibonacci Levels: Allows users to select which retracement levels (236, 382, 500, 618, 786, 886) are displayed on the chart.
Visual Settings: Customization options include the colors and styles of pivot points, trend lines, and the retracement meter.
Pivot and Line Calculation:
The script calculates the deviation between the current price and the last pivot point. If the deviation exceeds a certain threshold, it identifies a new pivot and draws a trend line between the previous pivot and the current one.
Visual Aids :
The indicator provides extensive visual aids, including pivot points marked with circles, dashed trend lines connecting pivots, and labels displaying additional information like price and delta rate.
Performance :
Optimized to handle large datasets, the script is configured to process up to 4000 bars and can manage numerous lines and labels efficiently.
Background and Appearance :
The script allows for customization of the chart background color, enhancing visibility based on user preferences.
In essence, this script is a powerful tool for traders who rely on Fibonacci retracement levels to identify potential support and resistance areas, allowing for a more automated and visually guided approach to market analysis.
Unleash Bitcoin's Next Move with S&P Divergence!BTC_GO_LONG_SONG
This script works like a special helper that watches two things: Bitcoin (a popular type of digital money) and the S&P 500 (which is like a big basket of important companies' stocks).
Imagine Bitcoin and the S&P 500 are connected by an invisible elastic band.
When they move together: The elastic band stays relaxed.
When they move apart: The elastic band stretches.
This script keeps an eye on how much the elastic band stretches.
If Bitcoin starts to move in a different way than the S&P 500 and the band stretches a lot, the script thinks that Bitcoin might snap back or make a big jump soon.
Here’s how it works:
Volume Check: The script looks at how many people are buying or selling Bitcoin. If a lot more people are trading than usual, it’s like a signal that something big might happen.
Price Movement: It watches how Bitcoin’s price is changing. If Bitcoin breaks away from its usual pattern and moves far from where it was recently, it could be a sign that a big change is coming.
Elastic Band Check: The script checks if Bitcoin is moving differently than the S&P 500. If Bitcoin is doing its own thing while the S&P 500 moves in another direction, it’s like the elastic band is being stretched.
When all these things happen together—high trading volume, unusual price movement, and a stretched elastic band—the script shows a green triangle on the chart.
This triangle is a signal for people who believe Bitcoin might go up (the Bulls) that it could be a good time to think about entering a trade because a breakout might be coming.
This explanation uses the idea of an elastic band to describe the relationship between Bitcoin and the S&P 500, making it easier to understand how this script helps traders spot potential breakout opportunities.
Breaker Blocks + Order Blocks confirm [TradingFinder] BBOB Alert🔵 Introduction
In the realm of technical analysis, various tools and concepts are employed to identify key levels on price charts. These tools assist traders in analyzing market trends with greater precision, enabling them to optimize their trading decisions. Among these tools, the Order Block and Breaker Block hold a significant place, serving as effective instruments for analyzing market structure.
🟣 Order Block
An Order Block refers to zones on a chart where large financial institutions and high-volume traders place their orders. Due to the substantial volume of buy or sell orders in these areas, they are often regarded as pivotal points for potential price reversals or temporary pauses in a trend. Order Blocks are particularly crucial when prices react to these zones after a strong market move, acting as strong support or resistance levels.
🟣 Breaker Block
On the other hand, a Breaker Block refers to areas on a chart that previously functioned as Order Blocks but where the price has managed to break through and continue in the opposite direction. These zones are typically recognized as key points where market trends might shift, helping traders identify potential reversal points in the market.
🟣 Overlapping Block (BBOB)
Now, imagine a scenario where these two essential concepts in technical analysis—Order Blocks and Breaker Blocks—overlap on a chart. Although this overlap is not specifically discussed within the ICT (Inner Circle Trader) trading framework, exploring and utilizing this overlap can provide traders with powerful insights into strong support and resistance zones. The combination of these two robust concepts can highlight critical areas in trading, potentially offering significant advantages in making informed trading decisions.
In this article, we will delve into the concept of this overlap, explaining how to utilize it in trading strategies. Additionally, we will analyze the potential outcomes and benefits of incorporating this concept into your trading decisions.
Bullish Overlapping Block (BBOB) :
Bearish Overlapping Block (BBOB) :
🔵 How to Use
The overlap between Order Blocks and Breaker Blocks is a compelling and powerful concept that can help traders identify key levels on the chart with a high probability of success. This overlap is particularly valuable because it combines two well-regarded concepts in technical analysis—zones of high order volume and critical market shifts.
🟣 Here’s how to effectively use this overlap in your trading
1. Dentifying the Overlapping Block : To make the most of the overlap between Order Blocks and Breaker Blocks, begin by identifying these zones separately. Order Blocks are areas where price typically reacts and reverses after a strong market move.
Breaker Blocks are areas where a previous Order Block has been breached, and the price continues in the opposite direction. When these two zones overlap on a chart, it’s crucial to pay close attention to this area, as it represents a high-probability reaction zone.
2. Analyzing the Overlapping Block : After identifying the overlap zone, carefully analyze price action within this region. Candlestick patterns and price behavior can provide essential clues.
If the price reaches this overlap zone and strong reversal patterns such as Pin Bars or Engulfing patterns are observed, it’s likely that this zone will act as a pivotal reversal point. In such cases, entering a trade with confidence becomes more feasible.
3. Entering the Trade : When sufficient signs of price reaction are present in the overlap zone, you can proceed to enter the trade. If the overlap zone is within an uptrend and bullish reversal signals are evident, a long position might be appropriate.
Conversely, if the overlap zone is in a downtrend and bearish reversal signals are observed, a short position would be more suitable.
4. Risk Management : One of the most critical aspects of trading in overlap zones is managing risk. To protect your capital, place your stop loss near the lowest point of the Order Block (for buy trades) or the highest point (for sell trades). This approach minimizes potential losses if the overlap zone fails to hold.
5. Price Targets : After entering the trade, set your price targets based on other key levels on the chart. These targets could include other support and resistance zones, Fibonacci levels, or pivot points.
Bullish Overlapping Block :
Bearish Overlapping Block :
🟣 Benefits of the Overlapping Block Between Order Block and Breaker Block
1. Enhanced Precision in Identifying Key Levels : The overlap between these two zones usually acts as a highly reliable area for price reactions, increasing the accuracy of identifying entry and exit points.
2. Reduced Trading Risk : Given the high importance of the overlap zone, the likelihood of making incorrect decisions is reduced, contributing to overall lower trading risk.
3. Increased Probability of Success : The overlap between Order Blocks and Breaker Blocks combines two powerful concepts, enhancing the likelihood of success in trades, as multiple indicators confirm the importance of the area.
4. Creation of Better Trading Opportunities : Overlap zones often provide traders with more robust trading opportunities, as these areas typically represent strong reversal points in the market.
5. Compatibility with Other Technical Tools : This concept seamlessly integrates with other technical analysis tools such as Fibonacci retracements, trend lines, and chart patterns, offering a more comprehensive market analysis.
🔵 Setting
🟣 Global Setting
Pivot Period of Order Blocks Detector : Enter the desired pivot period to identify the Order Block.
Order Block Validity Period (Bar) : You can specify the maximum time the Order Block remains valid based on the number of candles from the origin.
Mitigation Level Order Block : Determining the basic level of a Order Block. When the price hits the basic level, the Order Block due to mitigation.
Mitigation Level Breaker Block : Determining the basic level of a Breaker Block. When the price hits the basic level, the Breaker Block due to mitigation.
Mitigation Level Overlapping Block : Determining the basic level of a Overlapping Block. When the price hits the basic level, the Overlapping Block due to mitigation.
🟣 Overlapping Block Display
Show All Overlapping Block : If it is turned off, only the last Order Block will be displayed.
Demand Overlapping Block : Show or not show and specify color.
Supply Overlapping Block : Show or not show and specify color.
🟣 Order Block Display
Show All Order Block : If it is turned off, only the last Order Block will be displayed.
Demand Main Order Block : Show or not show and specify color.
Demand Sub (Propulsion & BoS Origin) Order Block : Show or not show and specify color.
Supply Main Order Block : Show or not show and specify color.
Supply Sub (Propulsion & BoS Origin) Order Block : Show or not show and specify color.
🟣 Breaker Block Display
Show All Breaker Block : If it is turned off, only the last Breaker Block will be displayed.
Demand Main Breaker Block : Show or not show and specify color.
Demand Sub (Propulsion & BoS Origin) Breaker Block : Show or not show and specify color.
Supply Main Breaker Block : Show or not show and specify color.
Supply Sub (Propulsion & BoS Origin) Breaker Block : Show or not show and specify color.
🟣 Order Block Refinement
Refine Order Blocks : Enable or disable the refinement feature. Mode selection.
🟣 Alert
Alert Name : The name of the alert you receive.
Alert Overlapping Block Mitigation :
On / Off
Message Frequency :
This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone :
The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
🔵 Conclusion
The overlap between Order Blocks and Breaker Blocks represents a critical and powerful area in technical analysis that can serve as an effective tool for determining entry and exit points in trading.
These zones, due to the combination of two key concepts in technical analysis, hold significant importance and can help traders make more confident trading decisions.
Although this concept is not specifically discussed in the ICT framework and is introduced as a new idea, traders can achieve better results in their trades through practice and testing.
Utilizing the overlap between Order Blocks and Breaker Blocks, in conjunction with other technical analysis tools, can significantly improve the chances of success in trading.
Jason's Simple Moving Averages WaveUnderstanding the Script:
Purpose: This script identifies potential trend direction and momentum using a moving average and wave amplitude calculation. It shows a green line when the price is trending upwards and a red line when trending downwards.
Strategy: This script doesn't provide a complete trading strategy. It's an indicator designed to be used alongside other tools.
Parameters: You can adjust the "Moving Average Length" input to change the sensitivity of the indicator. A shorter length will react quicker to price changes, while a longer length will be smoother but less responsive.
How to Use it:
Load the Script: In TradingView, navigate to the indicator creation section and paste the provided script code.
Adjust Parameters: Set the "Moving Average Length" based on your preferred timeframe and trading style.
Combine with Other Tools: Use the indicator along with other technical indicators or price action analysis to confirm potential entry and exit points for trades.
Here are some additional points to consider:
Crossovers: You could look for buy signals when the price crosses above the green line and sell signals when it crosses below the red line. However, these can be prone to false signals.
Divergence: Look for divergences between the price movement and the wave indicator. For example, a rising price with a falling wave could indicate overbought conditions and a potential reversal.
Confirmation: Don't rely solely on this indicator. Use it alongside other confirmations from price action, volume analysis, or other indicators to identify higher probability trades.
Important Note:
Envelop-Ama-VivekThe Adaptive Moving Average (AMA) is a type of moving average developed by Perry Kaufman, designed to adapt to the market's volatility. Unlike traditional moving averages that use fixed periods for smoothing, the AMA adjusts its sensitivity based on the market's noise and trends.
### Key Features of AMA:
1. **Adaptive Sensitivity:**
- The AMA responds more quickly to significant market movements while filtering out minor fluctuations. This is achieved by adjusting the smoothing constant dynamically.
- In trending markets, the AMA becomes more sensitive, allowing it to capture trends faster.
- In choppy or sideways markets, the AMA reduces its sensitivity, thus minimizing the impact of noise and avoiding false signals.
2. **Efficiency Ratio (ER):**
- The ER is a core component of the AMA. It measures the efficiency of price movement by comparing the net price change to the total price change over a given period.
- A higher ER indicates a strong trend, while a lower ER suggests more noise in the market.
3. **Smoothing Constant (SC):**
- The SC determines how much weight is given to the most recent price relative to the previous AMA value.
- The SC is dynamically adjusted based on the ER, with higher values used during strong trends and lower values during volatile or choppy periods.
### Applications of AMA:
- **Trend Detection:** The AMA is useful for identifying the start of a new trend or confirming an existing one, as it adjusts quickly to significant price movements.
- **Noise Reduction:** By adapting to market conditions, the AMA helps in filtering out market noise, making it easier to distinguish between genuine trends and short-term fluctuations.
- **Entry and Exit Signals:** Traders can use the AMA to generate buy and sell signals. For instance, when the price crosses above the AMA, it might indicate a buying opportunity, and when it crosses below, it might signal a selling opportunity.
### Benefits:
- **Adaptive Nature:** Its ability to adjust to market conditions makes the AMA more reliable in different market environments.
- **Reduced Lag:** Compared to traditional moving averages, the AMA reduces lag during trending markets, allowing for quicker responses to price movements.
### Drawbacks:
- **Complexity:** The calculation of the AMA is more complex compared to simple moving averages, which might make it less accessible to some traders.
- **Parameter Sensitivity:** The effectiveness of the AMA can vary depending on the chosen parameters (e.g., length, fast length, slow length), requiring careful tuning.
In summary, the AMA is a powerful tool for traders looking to capture trends while minimizing the impact of market noise. Its adaptive nature makes it suitable for various market conditions, providing a balance between responsiveness and noise reduction.
Marcos Ruiz :Price Change Speed Descripción:
Este indicador en Pine Script está diseñado para analizar y visualizar dinámicamente la velocidad de los cambios de precio en un gráfico de TradingView. El indicador permite a los usuarios seleccionar diferentes tipos de medias móviles y fuentes de precios para calcular y mostrar el cambio porcentual en el precio durante un período especificado
Características:
Selección de Fuente de Precio: Elige entre cierre, apertura, alto, o bajo para los cálculos de precios
Tipos de Media Móvil: Selecciona entre SMA, WMA, EMA, HMA, o VWMA para determinar la media móvil utilizada en el cálculo de la velocidad promedio
Coloreado Dinámico: El color de la línea de la media móvil cambia según la velocidad de cambio de precio
Aumento de Velocidad: Cuando la velocidad del cambio de precio está aumentando, la media móvil se colorea según upColor definido por el usuario
Disminución de Velocidad: Cuando la velocidad está disminuyendo, la media móvil se colorea según downColor definido por el usuario
Posición Neutral: Coloreado adicional para escenarios donde el precio está por encima o por debajo de la media móvil, pero no cumple con las condiciones de aumento/disminución
Factor de Refuerzo: Ajusta la sensibilidad del cálculo del cambio de velocidad
Uso:
Parámetros de Entrada:
Define el Período para establecer la ventana de retroceso para calcular la velocidad
Elige la Fuente de Precio para determinar qué datos de precios usar
Selecciona el Tipo de Media Móvil y ajusta la Longitud de EMA para la comparación
Interpretación:
El indicador traza la media móvil seleccionada con colores dinámicos basados en la velocidad calculada del cambio de precio
Los cambios positivos y negativos en la velocidad se indican con diferentes colores, proporcionando una representación visual del momento y la fuerza de la tendencia del precio
Nota: Este script es el resultado de un desarrollo y pruebas extensivas. Se agradecen mucho sus comentarios y contribuciones
Description:
This Pine Script indicator is designed to dynamically analyze and visualize the speed of price changes on a TradingView chart. The indicator allows users to select different moving average types and price sources to compute and display the percentage change in price over a specified period
Features:
Price Source Selection: Choose from close, open, high, or low for price calculations
Moving Average Types: Select from SMA, WMA, EMA, HMA, or VWMA to determine the moving average used for computing average speed
Dynamic Coloring: The moving average line's color changes based on the speed of price change
Increasing Speed: When the price change speed is increasing, the moving average is colored according to the user-defined upColor
Decreasing Speed: When the speed is decreasing, the moving average is colored according to the user-defined downColor
Neutral Position: Additional coloring for scenarios where the price is above or below the moving average but not meeting the increase/decrease conditions
Reinforcement Factor: Adjusts the sensitivity of the speed change calculation
Usage:
Input Parameters:
Set the Period to define the lookback window for calculating speed
Choose the Price Source to determine which price data to use
Select the Moving Average Type and adjust the EMA Length for comparison
Interpretation:
The indicator plots the selected moving average with dynamic colors based on the calculated speed of price change
Positive and negative changes in speed are indicated by different colors, providing a visual representation of price momentum and trend strength
Note: This script is the result of extensive development and testing. Your feedback and contributions are highly appreciated
