CLAP Daily ATR Table with ATR LineATR Calculation:
The script calculates the ATR using the built-in ta.atr() function with a user-defined length.
The ATR is calculated on a daily time frame using request.security().
Table Creation:
A table is displayed in the top_right position of the chart.
The table includes the stock ticker symbol and its current daily ATR value.
Customization:
You can adjust the ATR length via the input panel.
The table design includes customizable colors and formatting.
차트 패턴
Multi-Feature Trading Indicator SANRRHere is a detailed description of the script:
1. Indicator Setup
The script is a custom Pine Script indicator designed for use in TradingView.
The indicator is named "Multi-Feature Trading Indicator", and it overlays its outputs on the price chart.
The script allows for customization through inputs, where you can choose which features to show on the chart, such as Relative Volume (RVOL), Liquidity, VCP patterns, Monthly Gains, New Highs, EMA Alerts, and more.
2. Inputs
The script allows users to toggle on/off several features, such as:
Relative Volume (RVOL)
Liquidity
Volume and Price Contraction (VCP)
Monthly Gains
NR4/NR7 Patterns
ADR (Average Daily Range) and Up/Down Volume Ratio
New Highs
Significant Volume Events
Pocket Pivots
EMA Alerts
RS Score (the new feature added)
3. Feature Calculations
Relative Volume (RVOL)
RVOL is calculated by dividing the current volume by the 50-period simple moving average (SMA) of volume. If RVOL is enabled, it is plotted as a line on the chart.
Liquidity
Liquidity is calculated by multiplying the closing price by the 50-period SMA of volume.
A label is displayed showing the liquidity, and it's formatted in millions (if applicable).
Volume and Price Contraction (VCP)
VCP identifies contraction in both price (narrowing of the price range) and volume (declining volume).
If the price range (high - low) and volume are both below their 50-period averages (within a given threshold), a triangle is plotted below the bar.
Monthly Gains
This section calculates percentage gains over the last 1-month and 3-month periods, comparing the current close with the previous month's/quarter's close.
A label is shown on the chart indicating the percentage gains for both the 1-month and 3-month periods.
NR4/NR7 Patterns
The script identifies NR4 (narrowest range in the last 4 bars) and NR7 (narrowest range in the last 7 bars) patterns.
Inside bars (bars where the high is lower than the previous bar’s high and the low is higher than the previous bar’s low) are also detected.
Different shapes (circle, diamond) are plotted above or below the bars to indicate these patterns.
Average Daily Range (ADR) and Up/Down Volume Ratio
ADR is calculated as the difference between the highest and lowest prices over the last 14 bars, divided by the close price and multiplied by 100 to get the percentage.
The Up/Down Volume Ratio is calculated by summing the volume of bars where the price closed up (bullish) and down (bearish) over the last 14 bars.
New Highs
The script identifies new highs on different timeframes (52-week high, 3-month high, and 6-month high).
Triangles are plotted above the bars to mark these new highs, and labels are included to display the timeframe of the new high.
Significant Volume Events
Highest Ever Volume, Highest Year Volume, and Highest Quarter Volume are identified and plotted using labels above the bars.
Pocket Pivots
Pocket Pivots occur when the current bar’s volume is greater than the lowest volume over the last 10 bars for a down bar (a bar where the close is lower than the previous close).
A label is plotted below the bar when a Pocket Pivot is detected.
EMA Alerts
EMA Alerts are generated based on whether the price is above any of the following EMAs: 10-period, 20-period, 50-period, or 200-period.
A triangle is plotted above the bar if the price is above one of these EMAs.
4. RS Score Calculation
RS Score is calculated based on the relative performance over different periods: 3 months, 6 months, 9 months, and 12 months.
The formula for each score is:
𝑟
𝑠
_
𝑠
𝑐
𝑜
𝑟
𝑒
=
current close
−
lowest low over the period
lowest low over the period
×
100
rs_score=
lowest low over the period
current close−lowest low over the period
×100
Each score (3-month, 6-month, 9-month, 12-month) is then weighted:
3-month score × 0.4
6-month score × 0.2
9-month score × 0.2
12-month score × 0.2
The final RS Score is the weighted sum of these individual scores, scaled by 100.
The RS Score is then displayed as a label on the chart, showing the combined relative strength score based on the calculated gains over the different periods.
5. Visual Representation
For each of the features mentioned, shapes (triangles, circles, diamonds, labels, etc.) are plotted on the chart to visually represent specific patterns, volume events, price movements, or technical conditions.
Labels are used to display values like liquidity, ADR, new highs, and RS Score.
Summary
This Pine Script indicator provides a wide range of technical analysis tools, including:
Volume-based indicators (like RVOL, Liquidity, Volume Events)
Pattern recognition (NR4, NR7, Inside Bars, Pocket Pivots)
Performance indicators (like Monthly Gains, ADR, RS Score)
Trend-following indicators (EMA alerts, New Highs)
Custom Multi Moving AveragesCustom Multi Moving Averages Indicator
The Custom Multi Moving Averages indicator enhances your technical analysis by allowing the simultaneous plotting of three distinct moving averages (MAs) on your chart. This flexibility enables traders to observe short-term, mid-term, and long-term trends concurrently, facilitating more informed decision-making.
Key Features:
• Multiple MA Types: Choose from Simple Moving Average (SMA), Exponential Moving Average (EMA), Double Exponential Moving Average (DEMA), or Triple Exponential Moving Average (TEMA) for each of the three MAs.
• Customizable Lengths: Define the lookback period for each MA to suit your trading strategy.
• Color Coding: Assign distinct colors to each MA for clear visual differentiation on the chart.
How to Use:
1. Configure MA Parameters:
• Access the indicator settings to select the desired MA type (SMA, EMA, DEMA, TEMA) for each of the three MAs.
• Set the length (number of periods) for each MA to align with your analysis preferences.
• Choose a color for each MA to easily distinguish them on the chart.
2. Interpret the MAs:
• Trend Identification:
• An upward-sloping MA suggests a bullish trend, while a downward-sloping MA indicates a bearish trend.
• Crossovers:
• Bullish signals may emerge when a shorter-period MA crosses above a longer-period MA.
• Conversely, bearish signals may occur when a shorter-period MA crosses below a longer-period MA.
• Support and Resistance:
• MAs can act as dynamic support or resistance levels, with price tending to bounce off these lines.
Example Configuration:
• MA 1:
• Type: EMA
• Length: 9
• Color: Blue
• MA 2:
• Type: DEMA
• Length: 21
• Color: Green
• MA 3:
• Type: SMA
• Length: 50
• Color: Red
This setup allows for the observation of short-term (9-period EMA), medium-term (21-period DEMA), and longer-term (50-period SMA) trends, providing a comprehensive view of market dynamics.
Note:
While moving averages are valuable tools for trend analysis, they are based on historical data and may lag current price action. It’s advisable to use this indicator in conjunction with other analysis methods and risk management practices.
Disclaimer:
This indicator is intended for educational purposes and should not be construed as financial advice. Always conduct thorough research or consult with a financial advisor before making trading decisions.
By providing customizable options for different types of moving averages, this indicator offers traders the flexibility to tailor their analysis to specific strategies and timeframes.
5-Minute Breakout Strategy5-Minute Breakout Strategy
1. mark out 5 minute high and low
930-935 am
5 1 min or 1 5 min candle
2.wait for trade to break 5 minute high or low
ENTER ON RETEST!
3.enter with price action, 2x RR
4. ALWAYS HOLD UNTIL PROFT TARGET OR STOP LOSS
11am, wait for candle closures for stop loss
Advanced Divergence IndicatorAdvanced Divergence Indicator
Unlock the full potential of your trading strategy with the Advanced Divergence Indicator, a powerful tool designed to identify and analyze bullish and bearish divergences using multiple technical indicators. Whether you're a seasoned trader or just starting out, this indicator provides clear, actionable signals to help you make informed trading decisions.
What It Does
The Advanced Divergence Indicator detects divergences between price movements and key technical indicators, specifically the Relative Strength Index (RSI) and On-Balance Volume (OBV). Divergence occurs when the price trends in one direction while the indicator trends in the opposite direction, signaling potential reversals or continuations in the market.
Key Features
Multi-Indicator Analysis
RSI Divergence: Identifies bullish and bearish divergences using the RSI, helping you spot potential reversals based on momentum.
OBV Divergence: Utilizes OBV to detect divergences related to volume flow, providing insights into the strength behind price movements.
Bullish and Bearish Signals
Bullish Divergence: Signals when indicators show higher lows while the price forms lower lows, suggesting a potential upward reversal.
Bearish Divergence: Alerts when indicators display lower highs while the price creates higher highs, indicating a possible downward reversal.
Signal Strength Classification
Standard Signals: Represent typical divergence occurrences, marked with green (bullish) and red (bearish) labels.
Strong Signals: Highlighted with yellow (strong bullish) and blue (strong bearish) labels when divergences coincide with overbought or oversold conditions, enhancing signal reliability.
Customizable Settings
Indicator Selection: Choose to enable RSI, OBV, or both based on your trading preferences.
Pivot Points: Adjust the number of bars left and right to fine-tune pivot detection for more accurate divergence identification.
Range Configuration: Set minimum and maximum bar ranges to control the sensitivity of divergence detection, suitable for different timeframes and trading styles.
Noise Cancellation: Reduce false signals by enabling noise filtering, ensuring that only significant divergences are highlighted.
Visual Clarity
Color-Coded Labels: Easily distinguish between different types of divergences with intuitive color codes—green for bullish, red for bearish, yellow for strong bullish, and blue for strong bearish signals.
Clean Chart Display: The indicator overlays seamlessly on your chart without clutter, ensuring that signals are easily identifiable without distracting from price action.
Real-Time Alerts
Custom Alert Conditions: Receive instant notifications for bullish and bearish divergences, enabling you to act promptly on potential trading opportunities.
Combined Alerts: Get alerts for either bullish or bearish signals, or both, based on your selected criteria.
How to Use
Add the Indicator to Your Chart
Apply the Advanced Divergence Indicator to your desired chart and timeframe.
Configure Settings
Select Indicators: Choose to enable RSI, OBV, or both under the "Indicator Settings" group.
Adjust Parameters: Customize RSI length, pivot points, and divergence ranges to match your trading strategy and the specific asset you are analyzing.
Enable Noise Cancellation: Activate this feature to filter out minor divergences and focus on more significant signals.
Interpret the Signals
Bullish Signals: Look for green or yellow labels below the price bars indicating potential upward reversals.
Bearish Signals: Identify red or blue labels above the price bars signaling possible downward reversals.
Strong Signals: Pay special attention to yellow and blue labels as they denote stronger divergences with higher reliability.
Set Up Alerts
Configure alert conditions within the indicator to receive real-time notifications when bullish or bearish divergences are detected, ensuring you never miss a trading opportunity.
Why Choose Advanced Divergence Indicator
Comprehensive Analysis : By combining RSI and OBV, the indicator provides a more robust analysis compared to single-indicator tools, enhancing the accuracy of divergence detection.
Flexibility : Highly customizable settings allow traders to tailor the indicator to their unique strategies and market conditions.
User-Friendly : Clear labels and color codes make it easy for traders of all levels to understand and act on the signals.
Reliability : Strong signal classification and noise cancellation features help reduce false positives, providing more trustworthy trading signals.
Trend Takibi ve Dalgalanma StratejisiAçıklama:
Hareketli Ortalamalar (MA): 50 ve 200 periyotluk hareketli ortalamalar kullanılarak trendin yönü belirleniyor.
RSI: RSI göstergesi ile fiyatın aşırı alım veya aşırı satım bölgelerinde olup olmadığı kontrol ediliyor.
ATR: Ortalama Gerçek Aralık (ATR) kullanılarak stop-loss ve take-profit seviyeleri belirleniyor.
Long ve Short Pozisyonlar: Hareketli ortalamaların kesişimi ve RSI'nın durumu ile long (alış) ve short (satış) pozisyonları alınıyor.
Sonuç:
Bu strateji, piyasada güçlü bir trendin olduğu ve volatilitenin arttığı durumlarda pozisyon almayı amaçlar. Uzun vadeli yatırımcılar için uygun olabilir, ancak kısa vadeli ticaret yapmak isteyenler de stratejiyi hızla uyarlayabilir.
Trend Takibi ve Dalgalanma StratejisiAçıklama:
Hareketli Ortalamalar (MA): 50 ve 200 periyotluk hareketli ortalamalar kullanılarak trendin yönü belirleniyor.
RSI: RSI göstergesi ile fiyatın aşırı alım veya aşırı satım bölgelerinde olup olmadığı kontrol ediliyor.
ATR: Ortalama Gerçek Aralık (ATR) kullanılarak stop-loss ve take-profit seviyeleri belirleniyor.
Long ve Short Pozisyonlar: Hareketli ortalamaların kesişimi ve RSI'nın durumu ile long (alış) ve short (satış) pozisyonları alınıyor.
Sonuç:
Bu strateji, piyasada güçlü bir trendin olduğu ve volatilitenin arttığı durumlarda pozisyon almayı amaçlar. Uzun vadeli yatırımcılar için uygun olabilir, ancak kısa vadeli ticaret yapmak isteyenler de stratejiyi hızla uyarlayabilir.
SufinBDThis TradingView script combines RSI, Stochastic RSI, MACD, and Bollinger Bands to generate Buy and Sell signals on two different timeframes: 4-hour (4H) and Daily (1D). The strategy aims to provide entry and exit points based on a multi-indicator confirmation approach, helping traders make more informed decisions.
Features:
RSI (Relative Strength Index):
Measures the speed and change of price movements.
The script looks for oversold conditions (RSI below 30) for buy signals and overbought conditions (RSI above 70) for sell signals.
Stochastic RSI:
Measures the level of RSI relative to its high-low range over a given period.
A Stochastic RSI below 0.2 indicates oversold conditions, and a value above 0.8 indicates overbought conditions.
It helps identify overbought and oversold conditions in a more precise manner than regular RSI.
MACD (Moving Average Convergence Divergence):
A trend-following momentum indicator that shows the relationship between two moving averages of a security's price.
The MACD line crossing above the Signal line generates bullish signals, and vice versa for bearish signals.
Bollinger Bands:
A volatility indicator that consists of a middle band (SMA of price), an upper band, and a lower band.
When the price is below the lower band, it signals potential buy opportunities, while prices above the upper band signal potential sell opportunities.
Timeframe Usage:
The script calculates indicators for both the 4-hour (4H) and Daily (1D) timeframes.
The combined signals from these two timeframes are used to generate Buy and Sell alerts.
Buy Signal:
A Buy signal is generated when all of the following conditions are met:
RSI on both 4H and 1D is below 30 (oversold conditions).
Stochastic RSI on both timeframes is below 0.2.
The MACD line is above the Signal line on both timeframes.
The price is below the lower Bollinger Band on both the 4H and 1D charts.
Sell Signal:
A Sell signal is generated when all of the following conditions are met:
RSI on both 4H and 1D is above 70 (overbought conditions).
Stochastic RSI on both timeframes is above 0.8.
The MACD line is below the Signal line on both timeframes.
The price is above the upper Bollinger Band on both the 4H and 1D charts.
Visuals:
Buy signals are marked with green labels below the bars.
Sell signals are marked with red labels above the bars.
Bollinger Bands are displayed on the chart with the upper and lower bands marked in blue (for 4H) and orange (for 1D).
Purpose:
This script aims to provide more reliable buy/sell signals by combining indicators across multiple timeframes. It is ideal for traders who want to use multiple confirmation points before entering or exiting a trade.
How to Use:
Apply the script to any chart on TradingView.
Look for Buy and Sell signals that meet the conditions above.
You can adjust the timeframe (e.g., 4H or 1D) based on your trading strategy.
This script can be used for intraday trading, swing trading, or position trading depending on your preferred timeframes.
Example of Signal Interpretation:
Buy Signal:
If all conditions are met (e.g., RSI is under 30, Stochastic RSI is under 0.2, MACD is bullish, and price is below the lower Bollinger Band on both the 4-hour and daily charts), the script will show a green "BUY" label below the price bar.
Sell Signal:
If all conditions are met (e.g., RSI is over 70, Stochastic RSI is over 0.8, MACD is bearish, and price is above the upper Bollinger Band on both timeframes), the script will show a red "SELL" label above the price bar.
This combination of indicators offers a multi-layered confirmation approach, which aims to reduce the risk of false signals and increase the reliability of your trading decisions.
Shark FireEnglish Description for TradingView
**Script Name: Shark Fire Indicator**
**Description:**
The Shark Fire Indicator is a powerful tool designed for traders who want to identify potential price movements based on triangle patterns. This script analyzes historical price data and detects triangle formations, providing forecasts for future price levels.
**Key Features:**
- **Triangle Detection:** Automatically identifies ascending, descending, and symmetrical triangles based on the price action of the last 15 bars.
- **Price Forecasting:** Calculates potential future price levels based on current market trends and the identified triangle patterns.
- **Visual Representation:** Draws forecast boxes on the chart to help traders visualize potential price movements, along with lines representing predicted price levels.
- **User -Friendly:** Easy to integrate with your existing TradingView setup, allowing for seamless analysis of market trends.
Use the Shark Fire Indicator to enhance your trading strategy and make informed decisions based on visualized price forecasts!
Русское Описание для TradingView
**Название скрипта: Индикатор Shark Fire**
**Описание:**
Индикатор Shark Fire — это мощный инструмент, разработанный для трейдеров, желающих выявить потенциальные движения цен на основе треугольных паттернов. Этот скрипт анализирует исторические данные по ценам и обнаруживает фигуры треугольников, предоставляя прогнозы будущих уровней цен.
**Ключевые особенности:**
- **Обнаружение треугольников:** Автоматически определяет восходящие, нисходящие и симметричные треугольники на основе ценового движения последних 15 баров.
- **Прогнозирование цен:** Рассчитывает потенциальные будущие уровни цен на основе текущих рыночных трендов и выявленных треугольных паттернов.
- **Визуальное представление:** Рисует прогнозные боксы на графике, чтобы помочь трейдерам визуализировать потенциальные движения цен, а также линии, представляющие прогнозируемые уровни цен.
- **Удобство использования:** Легко интегрируется в вашу существующую настройку TradingView, позволяя бесшовно анализировать рыночные тренды.
Используйте индикатор Shark Fire для улучшения вашей торговой стратегии и принятия обоснованных решений на основе визуализированных прогнозов цен!
Kmag's Buy & Sell Signal RibbonThe RSI condition has been added to the script. It triggers an alert when the 14-length RSI crosses above its 14-length moving average, alongside the existing conditions.
The script now includes the Bollinger Bands indicator and checks if the Bollinger Bands width percentile is above 20%. A buy signal is triggered only when all four criteria are met:
Price is above the 15 EMA.
RSI crosses above its moving average.
Price is above the PSAR value.
Bollinger Bands width percentile is greater than 20%.
KMags Buy 2: Price cross above 15 day EMA and RSI crosses RSI MAThe script has been updated to trigger an alert only when both conditions are met simultaneously: the price crosses above the 15 EMA and the RSI crosses above its moving average.
KMags Buy: Price crosses above 15 day EMA and RSI crosses RSI MAAlgorithm uses the 1 day time frame, and alerts you when the asset price moves above the 15 exponential moving average, and also when the 14 length RSI crosses over the 14 length RSI single moving average.
The script also plots the EMA on the chart and the RSI with its moving average in a separate pane.
Alerts are set up for each condition.
ZelosKapital Weekly/Monthly HLThe ZelosKapital Weekly/Monthly high low indicator is designed to display the weekly and monthly high and low levels directly on the price chart. It helps traders easily identify key support and resistance zones by marking the highest and lowest points of the current week and month. The indicator automatically updates these levels as the price moves, providing a clear visual reference for intraday trading strategies.
Ideal for both Day Trading and Swing Trading, this tool offers valuable insights into potential reversal points, breakout areas, and zones of consolidation. By monitoring these significant price levels, traders can make more informed decisions, timing their entries and exits with greater precision. Whether you're looking for short-term price action or longer-term trends, the weekly and monthly highs and lows serve as critical levels to guide your trades.
SCALPING 5MIN MACD & RSI with EMA20-200X: @IMAN_INJ
1. MACD (Moving Average Convergence Divergence)
Displays as a four-colored histogram.
Lime Green: Bullish momentum increasing.
Green: Bullish momentum decreasing.
Maroon: Bearish momentum increasing.
Red: Bearish momentum decreasing.
A zero line is added for trend confirmation.
2. RSI (Relative Strength Index)
Calculates RSI values based on the closing price.
Detects overbought (above 70) and oversold (below 25) zones.
Signals:
"Buy" appears when RSI crosses above 25 (oversold condition).
"Sell" appears when RSI crosses below 70 (overbought condition).
3. Buy/Sell Signal Placement
Signals are plotted on the MACD histogram to align RSI conditions with MACD momentum.
Green Labels: Indicate "Buy" opportunities.
Red Labels: Indicate "Sell" opportunities.
ANIL's OHCL, VWAP and EMA CrossPrevious Week High and Low:
This part calculates the previous week's high and low values and plots them as continuous blue lines. The plot.style_line ensures the lines are drawn continuously.
Previous Day Open, High, Low, Close:
The script uses request.security to get the previous day's open, high, low, and close values. These are plotted as continuous lines in different colors:
Open: Green
High: Red
Low: Orange
Close: Purple
VWAP (Volume Weighted Average Price):
The VWAP is calculated using ta.vwap(close) and plotted with a thick black line.
Exponential Moving Averages (EMAs):
The script calculates two EMAs: one with a 9-period (fast) and one with a 21-period (slow).
The EMAs are plotted as continuous lines:
Fast EMA: Blue
Slow EMA: Red
EMA Cross:
The script checks for EMA crossovers and crossunders:
A crossover (fast EMA crossing above slow EMA) triggers a buy signal (green label below the bar).
A crossunder (fast EMA crossing below slow EMA) triggers a sell signal (red label above the bar).
Customization:
You can adjust the fastLength and slowLength variables to change the period of the EMAs.
You can modify the line colors and line thickness to match your preferred style.
The buy and sell signals can be customized further with different shapes or additional conditions for signal generation.
This script provides a comprehensive and visually distinct indicator with the previous week's and day's levels, VWAP, and EMA crossover signals.
JM-DAILY-H&L-V5Previous Daily Highs and Lows Indicator
This custom indicator highlights the high and low of the previous day, providing crucial reference points for intraday traders. The displayed levels act as key support and resistance zones, helping you gauge potential price reversals or breakouts. While this indicator can be used on multiple timeframes it is especially useful on 4-hour to 1-hour timeframes for intraday trading. By using these levels, traders can refine their entries and exits within the day, identifying price action patterns that align with the prior days market dynamics.
Dual Spectrum RSI [CHE]Dual Spectrum RSI Indicator
Introduction
The Dual Spectrum RSI Indicator is an innovative and robust tool designed for traders aiming to enhance their market analysis and trading precision. This script leverages multi-timeframe analysis, advanced RSI configurations, and customizable visualization options to provide actionable insights for both trend-following and contrarian strategies.
Key Features
1. Dynamic Timeframe Selection
- Automatically adapts the resolution based on the current chart's timeframe.
- Options to switch between Auto Timeframe, Multiplier-based Timeframe, or Manual Resolution for complete control.
2. Advanced RSI Calculations
- Dual RSI setup for multi-layered analysis:
- Primary RSI for trend identification on the higher timeframe (HTF).
- Secondary RSI for entry signals with oversold/overbought crossovers on the current chart timeframe.
3. EMA Integration on Higher Timeframe (HTF)
- The Exponential Moving Average (EMA) acts as a robust trend filter, calculated on the Higher Timeframe (HTF).
- This ensures that trade signals align with the broader market trend, providing a strategic edge and reducing noise from lower timeframes.
4. Signal Clarity
- Visual labels for Buy and Sell signals directly on the chart.
- Dynamic stop-loss suggestions that adjust based on EMA crossovers and trend changes.
5. Customizable Visualization
- Gradient fills for overbought/oversold zones provide intuitive visual cues.
- User-friendly inputs for adjusting separator lines, color schemes, and label styles.
6. Comprehensive Data Display
- Real-time updates in an Info Box, showing active timeframe settings and resolution.
- Easy-to-understand trend conditions, making it accessible for both novice and professional traders.
Benefits for Traders
1. Precision in Decision-Making
The multi-timeframe capability ensures that traders always have the broader market context, minimizing false signals and enhancing trade accuracy.
2. Flexibility and Customization
Fully adjustable parameters allow traders to tailor the indicator to their unique trading style, whether scalping, day trading, or swing trading.
3. Enhanced Market Insights
By combining HTF trend filters, RSI dynamics, and EMA thresholds, this indicator provides a holistic view of market conditions.
4. User-Friendly Interface
The clean layout and intuitive options make it easy to integrate this tool into any TradingView setup.
5. Increased Confidence in Trades
With visual aids such as labels, gradients, and a trend-detection mechanism, traders can make decisions with greater confidence and less emotional bias.
Example Use Cases
1. Trend-Following Strategy
- Utilize the HTF EMA filter to confirm bullish or bearish trends.
- Enter trades when the secondary RSI crosses oversold/overbought levels in the direction of the trend.
2. Reversal Strategy
- Identify overextended trends using RSI crossovers.
- Look for counter-trend opportunities with precise stop-loss placements.
3. Scalping Setup
- Switch to intraday timeframes and use the multiplier-based resolution to capture short-term market movements.
How to Use
1. Add the script to your TradingView chart by pasting the provided Pine Script code into the Pine Editor.
2. Adjust the Timeframe Type, RSI parameters, and EMA length to align with your trading goals.
3. Monitor the generated signals and use them in conjunction with your broader trading strategy.
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.
Conclusion
The Dual Spectrum RSI Indicator is not just another technical tool—it's a comprehensive trading companion that adapts to your needs, simplifies market analysis, and boosts your trading performance. Whether you're a beginner or a seasoned trader, this indicator provides the edge you need to succeed in today's dynamic markets.
Try It Today!
Experience the power of multi-timeframe analysis and take your trading to the next level. Add the Dual Spectrum RSI Indicator to your TradingView arsenal now!
Best regards
Chervolino
