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Follow Line-MTFThis code has been taken from "Follow Line" indicator created by KivancOzbilgic. Thanks for KivancOzbilgic for the original code. In this Follow Line-MTF, I added timeframe parameter to use the indicator effectively in lower time frames with higher timeframe entries. And also EMA setup to decide the Buy and Sell. There are two critical settings about the indicator: 1- Bollinger Bands Deviation is set to 1 as default but if you want to have early signals you have to decrease that amount. Also you'd better increase that to have flat values on sideways market conditions for not getting chopped by the early but false signals. 2- ATR Filter is activated in default settings and the indicator follows the trend with a distance from Highs and Lows considering ATR (default length 5) values. If you turn off the ATR filter, the indicator line only takes into account the Highs and the Lows. Indicator will get more agile but the risk of choppy signals can be taken that time. I personally advise you to increase the Bollinger Band Deviation from 1 to between 1.5-2 to stabilize the fake signals when ATR filter is turned off. Signals can be shown on the graph: BUY: when Follow Line changes direction from red to blue.(which means Price is above Bollinger Upper Band with 1 standard deviation) SELL: when Follow Line changes direction from blue to red. (which means Price moves below Bollinger Lower Band with 1 standard deviation) Explanation of EMA: Checkbox (UseEMA): Added a boolean input to allow enabling or disabling EMA-based conditions in the signal logic. Conditional Logic: If UseEMA is checked, the buy and sell signals include EMA conditions (EMA1 > EMA2 for buy, EMA1 < EMA2 for sell). If UseEMA is not checked, the signals rely only on the FollowLine and trend logic. EMA Plots: Both EMAs are plotted on the chart for visualization, regardless of whether they are used in the signal logic. Usage: To include EMA conditions in the signal logic, check the "Use EMA in Signal Logic" option. Leave the checkbox unchecked if you want to ignore EMA conditions
Pine Script™ 인디케이터
vijjusvgv의
1
Ensemble Alerts█ OVERVIEW This indicator creates highly customizable alert conditions and messages by combining several technical conditions into groups , which users can specify directly from the "Settings/Inputs" tab. It offers a flexible framework for building and testing complex alert conditions without requiring code modifications for each adjustment. █ CONCEPTS Ensemble analysis Ensemble analysis is a form of data analysis that combines several "weaker" models to produce a potentially more robust model. In a trading context, one of the most prevalent forms of ensemble analysis is the aggregation (grouping) of several indicators to derive market insights and reinforce trading decisions. With this analysis, traders typically inspect multiple indicators, signaling trade actions when specific conditions or groups of conditions align. Simplifying ensemble creation Combining indicators into one or more ensembles can be challenging, especially for users without programming knowledge. It usually involves writing custom scripts to aggregate the indicators and trigger trading alerts based on the confluence of specific conditions. Making such scripts customizable via inputs poses an additional challenge, as it often involves complicated input menus and conditional logic. This indicator addresses these challenges by providing a simple, flexible input menu where users can easily define alert criteria by listing groups of conditions from various technical indicators in simple text boxes . With this script, you can create complex alert conditions intuitively from the "Settings/Inputs" tab without ever writing or modifying a single line of code. This framework makes advanced alert setups more accessible to non-coders. Additionally, it can help Pine programmers save time and effort when testing various condition combinations. █ FEATURES Configurable alert direction The "Direction" dropdown at the top of the "Settings/Inputs" tab specifies the allowed direction for the alert conditions. There are four possible options:  • Up only : The indicator only evaluates upward conditions.  • Down only : The indicator only evaluates downward conditions.  • Up and down (default): The indicator evaluates upward and downward conditions, creating alert triggers for both.  • Alternating : The indicator prevents alert triggers for consecutive conditions in the same direction. An upward condition must be the first occurrence after a downward condition to trigger an alert, and vice versa for downward conditions. Flexible condition groups This script features six text inputs where users can define distinct condition groups (ensembles) for their alerts. An alert trigger occurs if all the conditions in at least one group occur. Each input accepts a comma-separated list of numbers with optional spaces (e.g., "1, 4, 8"). Each listed number, from 1 to 35, corresponds to a specific individual condition. Below are the conditions that the numbers represent:  1 — RSI above/below threshold  2 — RSI below/above threshold  3 — Stoch above/below threshold  4 — Stoch below/above threshold  5 — Stoch K over/under D  6 — Stoch K under/over D  7 — AO above/below threshold  8 — AO below/above threshold  9 — AO rising/falling  10 — AO falling/rising  11 — Supertrend up/down  12 — Supertrend down/up  13 — Close above/below MA  14 — Close below/above MA  15 — Close above/below open  16 — Close below/above open  17 — Close increase/decrease  18 — Close decrease/increase  19 — Close near Donchian top/bottom (Close > (Mid + HH) / 2)  20 — Close near Donchian bottom/top (Close < (Mid + LL) / 2)  21 — New Donchian high/low  22 — New Donchian low/high  23 — Rising volume  24 — Falling volume  25 — Volume above average (Volume > SMA(Volume, 20))  26 — Volume below average (Volume < SMA(Volume, 20))  27 — High body to range ratio (Abs(Close - Open) / (High - Low) > 0.5)  28 — Low body to range ratio (Abs(Close - Open) / (High - Low) < 0.5)  29 — High relative volatility (ATR(7) > ATR(40))  30 — Low relative volatility (ATR(7) < ATR(40))  31 — External condition 1  32 — External condition 2  33 — External condition 3  34 — External condition 4  35 — External condition 5 These constituent conditions fall into three distinct categories:  •  Directional pairs : The numbers 1-22 correspond to pairs of opposing upward and downward conditions. For example, if one of the inputs includes "1" in the comma-separated list, that group uses the "RSI above/below threshold" condition pair. In this case, the RSI must be above a high threshold for the group to trigger an upward alert, and the RSI must be below a defined low threshold to trigger a downward alert.  •  Non-directional filters : The numbers 23-30 correspond to conditions that do not represent directional information. These conditions act as filters for both upward and downward alerts. Traders often use non-directional conditions to refine trending or mean reversion signals. For instance, if one of the input lists includes "30", that group uses the "Low relative volatility" condition. The group can trigger an upward or downward alert only if the 7-period Average True Range (ATR) is below the 40-period ATR.  •  External conditions : The numbers 31-35 correspond to external conditions based on the plots from other indicators on the chart. To set these conditions, use the source inputs in the "External conditions" section near the bottom of the "Settings/Inputs" tab. The external value can represent an upward, downward, or non-directional condition based on the following logic:  ▫ Any value above 0 represents an upward condition.  ▫ Any value below 0 represents a downward condition.  ▫ If the checkbox next to the source input is selected, the condition becomes non-directional . Any group that uses the condition can trigger upward or downward alerts only if the source value is not 0. To learn more about using plotted values from other indicators, see this article in our Help Center and the Source input section of our Pine Script™ User Manual. Group markers Each comma-separated list represents a distinct group , where all the listed conditions must occur to trigger an alert. This script assigns preset markers (names) to each condition group to make the active ensembles easily identifiable in the generated alert messages and labels. The markers assigned to each group use the format "M", where "M" is short for "Marker" and "x" is the group number. The titles of the inputs at the top of the "Settings/Inputs" tab show these markers for convenience. For upward conditions, the labels and alert messages show group markers with upward triangles (e.g., "M1▲"). For downward conditions, they show markers with downward triangles (e.g., "M1▼"). NOTE: By default, this script populates the "M1" field with a pre-configured list for a mean reversion group ("2,18,24,28"). The other fields are empty. If any "M*" input does not contain a value, the indicator ignores it in the alert calculations. Custom alert messages By default, the indicator's alert message text contains the activated markers and their direction as a comma-separated list. Users can override this message for upward or downward alerts with the two text fields at the bottom of the "Settings/Inputs" tab. When the fields are not empty , the alerts use that text instead of the default marker list. NOTE: This script generates alert triggers, not the alerts themselves. To set up an alert based on this script's conditions, open the "Create Alert" dialog box, then select the "Ensemble Alerts" and "Any alert() function call" options in the "Condition" tabs. See the Alerts FAQ in our Pine Script™ User Manual for more information. Condition visualization This script offers organized visualizations of its conditions, allowing users to inspect the behaviors of each condition alongside the specified groups. The key visual features include:   1) Conditional plots  • The indicator plots the history of each individual condition, excluding the external conditions, as circles at different levels. Opposite conditions appear at positive and negative levels with the same absolute value. The plots for each condition show values only on the bars where they occur.  • Each condition's plot is color-coded based on its type. Aqua and orange plots represent opposing directional conditions, and purple plots represent non-directional conditions. The titles of the plots also contain the condition numbers to which they apply.  • The plots in the separate pane can be turned on or off with the "Show plots in pane" checkbox near the top of the "Settings/Inputs" tab. This input only toggles the color-coded circles, which reduces the graphical load. If you deactivate these visuals, you can still inspect each condition from the script's status line and the Data Window.  • As a bonus, the indicator includes "Up alert" and "Down alert" plots in the Data Window, representing the combined upward and downward ensemble alert conditions. These plots are also usable in additional indicator-on-indicator calculations.   2) Dynamic labels  • The indicator draws a label on the main chart pane displaying the activated group markers (e.g., "M1▲") each time an alert condition occurs.  • The labels for upward alerts appear below chart bars. The labels for downward alerts appear above the bars.  NOTE: This indicator can display up to 500 labels because that is the maximum allowed for a single Pine script.   3) Background highlighting  • The indicator can highlight the main chart's background on bars where upward or downward condition groups activate. Use the "Highlight background" inputs in the "Settings/Inputs" tab to enable these highlights and customize their colors.  • Unlike the dynamic labels, these background highlights are available for all chart bars, irrespective of the number of condition occurrences. █ NOTES • This script uses Pine Script™ v6, the latest version of TradingView's programming language. See the Release notes and Migration guide to learn what's new in v6 and how to convert your scripts to this version. • This script imports our new Alerts library, which features functions that provide high-level simplicity for working with complex compound conditions and alerts. We used the library's `compoundAlertMessage()` function in this indicator. It evaluates items from "bool" arrays in groups specified by an array of strings containing comma-separated index lists , returning a tuple of "string" values containing the marker of each activated group. • The script imports the latest version of the ta library to calculate several technical indicators not included in the built-in `ta.*` namespace, including Double Exponential Moving Average (DEMA), Triple Exponential Moving Average (TEMA), Fractal Adaptive Moving Average (FRAMA), Tilson T3, Awesome Oscillator (AO), Full Stochastic (%K and %D), SuperTrend, and Donchian Channels. • The script uses the `force_overlay` parameter in the label.new() and bgcolor() calls to display the drawings and background colors in the main chart pane. • The plots and hlines use the available `display.*` constants to determine whether the visuals appear in the separate pane. Look first. Then leap.
Pine Script™ 인디케이터
PineCoders의
1
20 EMA Crossover 50 EMAThis strategy uses a simple yet effective moving average crossover technique to identify trend changes in the market. Rules : A buy signal is triggered when the 20 EMA crosses above the 50 EMA, indicating a bullish trend. The position is exited (or a sell signal is triggered) when the 20 EMA crosses below the 50 EMA, indicating a bearish trend. Key Features: Plots clear buy and sell signals directly on the chart. Fully customizable EMA lengths to suit different markets and timeframes. Ideal for trend-following traders seeking to capture sustained price movements. Pros: Simple and objective rule-based approach. Adaptable across multiple asset classes (stocks, forex, crypto, etc.). Cons: May generate false signals in sideways markets. This script allows you to backtest and refine the strategy directly on TradingView, helping traders understand the importance of consistent execution and risk management in achieving long-term success.
Pine Script™ 스트래티지
Kirubakaran_Rajendran의
1
Fearless Indicator//@version=5 indicator('Fearless Indicator', shorttitle='Fearless Indicator', overlay=true) // Hard-coded parameters length = 2 // ATR Period mult = 3.0 // ATR Multiplier useClose = true // Use Close Price for Extremums showLabels = true // Show Buy/Sell Labels highlightState = true // Highlight State awaitBarConfirmation = true // Await Bar Confirmation atr = mult * ta.atr(length) longStop = (useClose ? ta.highest(close, length) : ta.highest(length)) - atr longStopPrev = nz(longStop , longStop) longStop := close > longStopPrev ? math.max(longStop, longStopPrev) : longStop shortStop = (useClose ? ta.lowest(close, length) : ta.lowest(length)) + atr shortStopPrev = nz(shortStop , shortStop) shortStop := close < shortStopPrev ? math.min(shortStop, shortStopPrev) : shortStop var int dir = 1 dir := close > shortStopPrev ? 1 : close < longStopPrev ? -1 : dir var color longColor = color.green var color shortColor = color.red var color longFillColor = color.new(color.green, 90) var color shortFillColor = color.new(color.red, 90) var color textColor = color.new(color.white, 0) longStopPlot = plot(dir == 1 ? longStop : na, title='Long Stop', style=plot.style_linebr, linewidth=2, color=color.new(longColor, 0)) buySignal = dir == 1 and dir == -1 plotshape(buySignal ? longStop : na, title='Long Stop Start', location=location.absolute, style=shape.circle, size=size.tiny, color=color.new(longColor, 0)) plotshape(buySignal and showLabels ? longStop : na, title='Buy Label', text='Trap', location=location.absolute, style=shape.labelup, size=size.tiny, color=color.new(longColor, 0), textcolor=textColor) shortStopPlot = plot(dir == 1 ? na : shortStop, title='Short Stop', style=plot.style_linebr, linewidth=2, color=color.new(shortColor, 0)) sellSignal = dir == -1 and dir == 1 plotshape(sellSignal ? shortStop : na, title='Short Stop Start', location=location.absolute, style=shape.circle, size=size.tiny, color=color.new(shortColor, 0)) plotshape(sellSignal and showLabels ? shortStop : na, title='Sell Label', text='Greed', location=location.absolute, style=shape.labeldown, size=size.tiny, color=color.new(shortColor, 0), textcolor=textColor) midPricePlot = plot(ohlc4, title='', style=plot.style_circles, linewidth=0, display=display.none, editable=false) longStateFillColor = highlightState ? dir == 1 ? longFillColor : na : na shortStateFillColor = highlightState ? dir == -1 ? shortFillColor : na : na fill(midPricePlot, longStopPlot, title='Long State Filling', color=longStateFillColor) fill(midPricePlot, shortStopPlot, title='Short State Filling', color=shortStateFillColor) await = awaitBarConfirmation ? barstate.isconfirmed : true alertcondition(dir != dir and await, title='Alert: CE Direction Change', message='Fearless has changed direction!') alertcondition(buySignal and await, title='Alert: CE Buy', message='Fearless Buy!') alertcondition(sellSignal and await, title='Alert: CE Sell', message='Fearless Sell!') // MACD Settings = ta.macd(close, 12, 26, 9) // Renamed MACD to Fearless // Fearless signals bullishFearlessSignal = ta.crossover(fearlessLine, signalLine) bearishFearlessSignal = ta.crossunder(fearlessLine, signalLine) // Check if timeframe is weekly isWeekly = timeframe.isweekly // Plot Fearless signals as dots only on weekly timeframe plotshape(isWeekly and bullishFearlessSignal ? low - 10 : na, title='Bullish Fearless Signal (Weekly)', location=location.absolute, size=size.small, color=color.green) plotshape(isWeekly and bearishFearlessSignal ? high + 10 : na, title='Bearish Fearless Signal (Weekly)', location=location.absolute, size=size.small, color=color.red) // 20 Fearless Feature (Standard Line) fearless20 = ta.ema(close, 20) // Renamed EMA to Fearless plot(fearless20, title="20 Fearless", color=color.blue, linewidth=2)
Pine Script™ 인디케이터
vipulbarot727의
Multiple Anchored WAP [TheWealthVriksh.com]Multiple Anchored Average Price indicator is designed to pinpoint a specific date and price in a given financial instrument's price chart. Once anchored to the desired date and price level, the script calculates and displays the average price from that anchor point to the current day. Features Customizable Source: Allows users to choose the source data for calculations. By default, it uses hlc3, which is the average of high, low, and close prices. Start Date Input: The script includes a timestamp-based input that allows the user to specify the anchor date easily. Customizable Color: Users can change the color of the plotted average line, adding an additional layer of customization to the visual representation. Code Mechanics Initialization: Declares the variables and arrays required for calculations and display. The array is used to store price data. Condition Check: Only starts storing and calculating data if the chart's time is equal to or greater than the user-defined start date. Data Storing: Once the condition is met, the script pushes the src price data into the array for future averaging. Average Calculation: It calculates the average price of the values stored in the array. Data Clearing: If the condition is not met, the array is cleared, and no average is plotted. Plotting: The average price is plotted on the chart with the user-defined color. By incorporating these features and mechanics, Multiple Anchored WAP provides traders and investors with a powerful tool for assessing average prices anchored to a specific date or swing. Disclaimer: This TradingView script is intended for educational and informational purposes only and should not be considered as investment or trading advice. Past performance is not indicative of future results. Trading and investing carry a high level of risk, and you should consult with a qualified financial advisor before making any financial decisions. The creator of this script, Prakash Tejwani, is not responsible for any losses or damages incurred as a result of using this script. Trade smart, stay safe Prakash Tejwani TheWealthVriksh.com
Pine Script™ 인디케이터
equityonsms의
Auto-Support v 0.3The "Auto-Support v 0.3" indicator is designed to automatically detect and plot multiple levels of support and resistance on a chart. It aims to help traders identify key price levels where the market tends to reverse or consolidate. Here’s a breakdown of its functionality and goals: Objective: The primary objective of the Auto-Support v 0.3 indicator is to provide traders with a clear, visual representation of support and resistance levels. These levels are determined based on a predefined sensitivity parameter, which adjusts how tightly or loosely the indicator reacts to recent price movements. The indicator can be applied to any chart to assist in identifying potential entry and exit points for trades, enhancing technical analysis by displaying these important price zones. Description: Support and Resistance Calculation: The indicator calculates multiple levels of support and resistance using the highest and lowest prices over a defined period. The "sensitivity" parameter, which ranges from 1 to 10, determines how sensitive the calculation is to recent price changes. A higher value increases the number of bars used to calculate these levels, making the levels more stable but less responsive to short-term price movements. Visual Representation: The support levels are drawn in green with a customizable transparency setting, while resistance levels are displayed in red with similar transparency controls. This visual representation helps traders identify these levels on the chart and see the strength or weakness of the support/resistance zones depending on the transparency setting. Multiple Levels: The indicator plots 10 distinct levels of support and resistance (from 1 to 10), which can offer a more granular view of price action. Traders can use these levels to assess potential breakout or breakdown points. Customization: Sensitivity: The sensitivity input allows traders to adjust how aggressively the indicator reacts to recent price data. This ensures flexibility, enabling the indicator to be tailored to different trading styles and market conditions. Transparency: The transparency input adjusts the visual opacity of the support and resistance lines, making it easier to overlay the indicator without obscuring other chart elements. Key Goals: Dynamic Support/Resistance Identification: Automatically detect and display relevant support and resistance levels based on price history, removing the need for manual chart analysis. Customizable Sensitivity: Offer a flexible method to adjust how the indicator identifies key levels, allowing it to fit different market conditions. Clear Visualization: Provide easy-to-read support and resistance levels with customizable colors and transparencies, enhancing visual clarity and decision-making. Multiple Levels: Display up to 10 levels of support and resistance, allowing traders to consider both short-term and longer-term price action when making trading decisions. By using this indicator, traders can more effectively identify key price zones where price may reverse, consolidate, or break out, providing a solid foundation for developing trading strategies.
Pine Script™ 인디케이터
be29의
Volume IndicatorVolume Indicator Description: The Volume Indicator helps you analyze trading volume in relation to the asset's price movement. It compares the current volume to its moving average to highlight whether the market is experiencing higher-than-usual trading activity. - Volume Line: Displays the actual trading volume, which can help identify price movements supported by significant market participation. - Volume Moving Average: A simple moving average of volume, which helps smooth out fluctuations and provides context to assess whether the current volume is relatively high or low. - Volume Color Change: The color of the volume line changes depending on whether the current volume is above or below the moving average. Green indicates volume higher than the moving average, while red indicates volume below it. This indicator is plotted in a separate panel below the price chart, making it easy to observe volume dynamics and potential breakouts or reversals based on volume trends.
Pine Script™ 인디케이터
MarcelRRR의
RSI Overbought/OversoldRSI Overbought/Oversold Indicator Description: The RSI Overbought/Oversold Indicator helps you track the relative strength of an asset and identify overbought or oversold conditions. The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It is typically used to identify potential reversal points in the market. - Overbought condition (above 70): The market may be overbought, indicating potential for a price pullback or reversal. - Oversold condition (below 30): The market may be oversold, suggesting a possible price reversal to the upside. - RSI Line: This line is plotted to track the relative strength of the asset's price movements. - Horizontal lines at 70 (Overbought) and 30 (Oversold) levels help you easily spot overbought and oversold conditions. This indicator is plotted in its own panel below the price chart for easy visualization of market momentum.
Pine Script™ 인디케이터
MarcelRRR의
BOLLINGER BAND BUY AND SELL ZONEHi Trader This is an advanced Bollinger Band set up. The set up is very simple to understand. As soon as the price candle enters the green zone you may take bullish trade. You can go with your trade till the price candle enters back the black zone which is a no trade zone. Similarly you can enter a bearish trade as soon as the price candles enters the red zone and you can go with your trade till the price candle enters back the black zone. Very very simple and highly profitable setup if followed without having been overpowered by your emotions. Pink bands are alert lines for both types of trade. Black area is a no trade zone. You may also use RSI or Stochastic RSI for oversold and overbought zone for second confirmation.
Pine Script™ 인디케이터
balajienterprises2712의
USDT Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy Kovsky Trading Strategy
Pine Script™ 스트래티지
kovsky.wow의
Squeeze Strategy### **The Squeeze Setup** The "squeeze" is a popular strategy Carter describes that identifies moments of price consolidation before explosive moves. It works well for swing trading. #### **Core Components** 1. **Indicators Needed:** - Bollinger Bands (default settings, 20-period and 2 standard deviations). - Keltner Channels (default settings, 20-period and 1.5 ATR). - Momentum Oscillator (e.g., RSI or MACD). 2. **Concept:** - A "squeeze" occurs when Bollinger Bands move inside the Keltner Channels. This indicates low volatility and a potential buildup of energy. - The breakout from this squeeze often leads to strong directional moves. 3. **Timeframes:** - Use a higher timeframe (e.g., daily) to confirm the overall trend. - Trade on a shorter timeframe (e.g., 4-hour or hourly) to time entries. #### **Steps for Implementation** 1. **Identify the Squeeze:** - Look for a squeeze where Bollinger Bands narrow inside the Keltner Channels. This suggests price consolidation. 2. **Check Momentum:** - Use a momentum oscillator (like MACD or RSI) to gauge the likely direction of the breakout. Positive momentum indicates upward movement; negative momentum suggests downward movement. 3. **Entry:** - Enter the trade when the price breaks out of the squeeze (e.g., closes above the upper Bollinger Band for a long trade or below the lower band for a short trade). 4. **Stop Loss:** - Place a stop loss just outside the opposite Bollinger Band or below/above the consolidation range to limit risk. 5. **Exit Strategy:** - Use trailing stops or predefined profit targets, such as key support/resistance levels or Fibonacci extensions, to secure gains. #### **Additional Tips** - **Avoid False Breakouts:** Wait for a strong close beyond the consolidation zone to confirm the breakout. - **Trade in the Direction of the Trend:** Use the daily chart to determine the prevailing trend and align your trades accordingly. - **Volume Confirmation:** Higher-than-average volume on the breakout adds credibility to the move.
Pine Script™ 인디케이터
r_aref_f의
Adaptive ATR Trailing Stops█ Introduction This script is based on the average true range (ATR) and has been improved with the HHV or LLV. The script supports the trader to have his stoploss trailed. In this case, the stoploss is dynamic and can be adjusted with each candleclose. █ What Does This Indicator Do? The ATR SL Trailing Indicator helps you dynamically adjust your stop-loss levels based on market movements. It uses market volatility to calculate trailing stop-loss levels, ensuring you can secure profits or minimize losses. The indicator creates two lines: A green/red line for long positions (when you’re betting on prices going up). A green/red line for short positions (when you’re betting on prices going down). █ Key Concepts: How Does the Indicator Work? The Average True Range (ATR) measures market volatility, showing how much the price moves over a specific period. A high ATR indicates a volatile market (large price swings), while a low ATR indicates a quiet market (smaller price changes). Why is ATR important? ATR helps dynamically adjust the distance between your stop-loss and the current price. In volatile markets, the stop-loss is placed further away to avoid being triggered by short-term fluctuations. In quieter markets, the stop-loss is set closer to the price. The HHV is the highest price over a specific period. For long positions, the indicator uses the highest price minus an ATR-based value to determine the stop-loss level. Why is HHV important? HHV ensures the stop-loss for long positions only moves up when the price reaches new highs. Once the price starts falling, the stop-loss remains unchanged to lock in profits or minimize losses. The LLV is the lowest price over a specific period. For short positions, the indicator uses the lowest price plus an ATR-based value to determine the stop-loss level. Why is LLV important? LLV ensures the stop-loss for short positions only moves down when the price reaches new lows. Once the price starts rising, the stop-loss remains unchanged to lock in profits or minimize losses. █ How Does the Indicator Work? For Long Positions: The indicator sets the stop-loss below the current price, based on: Market volatility (ATR). The highest price over a specific period (HHV). The line turns green when the current price is above the stop-loss. The line turns red when the price drops below the stop-loss, signaling you may need to exit the trade. For Short Positions: The indicator sets the stop-loss above the current price, based on: *Market volatility (ATR). *The lowest price over a specific period (LLV). *The line turns green when the current price is below the stop-loss. *The line turns red when the price moves above the stop-loss, signaling you may need to exit the trade. █ Advantages of the ATR SL Trailing Indicator *Dynamic and adaptive: Automatically adjusts stop-loss levels based on market volatility. *Visual clarity: Green and red lines clearly indicate whether your position is safe or at risk. *Effective risk management: Helps you lock in profits and minimize losses without the need for constant manual adjustments. █ When Should You Use This Indicator? *If you practice trend-based trading and want your stop-losses to automatically adapt to market movements. *In volatile markets, to avoid being stopped out by short-term fluctuations. *When you want to implement efficient risk management without manually adjusting your positions. █ Inputs The user can set the indicator for both longs and shorts. This is particularly important because the calculation is different. The HHV is used for longs and the LLV for shorts. The user can therefore set the period/length for the ATR on the one hand and the HHV/LLV on the other. He also has a multiplier, which can also be customized. The multiplier multiplies the price change of each individual candle. █ Color Change If the SL is trailed and the price breaks a line, the color changes. In this case, it would have executed the SL on an open trade.
Pine Script™ 인디케이터
AlgoTrader90의