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:
Lowerlow
RSI + FIB HH LL StopLoss Finder／Contrarian TradesThis indicator is a multi-timeframe indicator that works in any timeframe.
It takes a price reading of the highest or lowest bar in the past based on Fibonacci numbers and plots it.
In addition, the RSI smoothed by a 5-day moving average can be used to detect signs that previous highs or lows will be reached in advance.
This gives insight into determining stop-loss values or entering the market in a contrarian manner.
This is an example of BTCUSDT 4Hour Chart
Here is BTCUSDT 1Hour Chart
For scalpers BTCUSDT 15min Chart Example
Fibonacci Number is 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597, ...
FIbonacci Ratio is 0.236, 0.382, 0.5, 0.618, 1, 1.618, 2.618, 4.236, ...
Broadening Formations [QuantVue]Broadening formations are common chart patterns observed by technical traders. A broadening formation is formed when the volatility of an asset increases, thus expanding the range of its price resulting in higher highs and lower lows.
The Broadening Trendline indicator, works by looking for pivot points where a higher high or lower low is made compared to the previous pivot point. If a top and bottom line are detected a broadening formation is formed.
Indicator includes alerts, custom colors and styles, the ability to see previous trendlines, and notifications when a trendline is crossed.
Don't hesitate to reach out with any questions or concerns.
We hope you enjoy!
Cheers.
VWAP Bands - Event Based [LuxAlgo]This indicator returns VWAP bands with a degree of smoothness resetting based on various user-selected events. The bands are constructed using a VWAP based naive standard deviation.
The indicator can be anchored or start from the first bar and can be used as trailing support/resistance, in a moving average crossover system, or as source for external indicators.
Settings
Start: VWAP anchor point
Start At First Bar: Display the VWAP from the first bar instead of a specified anchor point
VWAP
Length: Controls certain characteristics of the user-selected event
Mult: Multiplicative factor for the VWAP standard deviation
Source: Price source of the indicator
Event
Event: Determines the event resetting the degree of smoothness of the VWAP
External Cross/Event: Input source used for external crosses/events
Further details about the available events are given below.
Details
Various event conditions are available to the users. When the selected event occurs, the VWAP equals the current closing price.
By default, the event is periodic, that is the VWAP resets periodically, with a period determined by the Length setting.
The Higher High event resets the VWAP when a new higher high occurs.
The Lower Low event resets the VWAP when a new lower low occurs.
The Trend Change event is similar however resets the VWAP only once a higher high or lower low occurs. Higher highs and lower lows are given by Donchian channels with a period determined by the Length setting.
The Start event reset the VWAP at the selected anchor point (or first bar if the "Start At First Bar" setting is selected). This can be useful if one only needs a regular anchored VWAP band indicator.
The External Cross event resets the VWAP when the Source price crosses the series selected in the External Cross/Event setting. In the image above the VWAP resets when the price crosses the volatility stop indicator.
The External Event resets the indicator when a series selected in the External Cross/Event setting is not equal to 0. This allows using a custom event in order to reset the VWAP. In the above example the VWAP is reset during a new session due to the External Session indicator.
LH-LL/HL-HH Confirmation Trend LineBased on Dow Theory, a series of successive higher highs (HH) and higher lows (HL) is the sign of an uptrend (bull trend) and a series of successive lower highs (LH) and lower lows (LL) is the sign of a downtrend (bear trend).
So this script indicates the trends using the concept and draws corresponding trend lines.
It took some effort to make it possible for users to see as many trend lines as they wish. Eventually the user could set the number alongside some other options in the indicator settings.
Use the script and send me your thoughts!
Local LimitsDisplays recent higher highs, lower highs, lower lows, and higher lows as a collection of local limit indicators.
In its simplicity is a lot more powerful than might appear at first glance.
Does not rely on volatility calculation.
Can be linked together to create an objective view of recent support and resistance levels.
Makes current trends more visible.
Excellent for use as a trailing stop algorithm.
Parameters
Single Bar Sensitivity: True (default) reacts to individual bars. False only responds to the alignment of 2 bars.
Margin (1-5): Adds extra distance from higher lows and lower highs to reduce the sensitivity of broken trends.
Single indicators with configurable sources:
Local Limit Higher
Local Limit Lower
Higher vs Lower Pivots overlayA simple script that I made that draws lines between the high and low pivots. The color of the line define if the pivot is higher or lower than the previous pivot. The main thing to tune is the pivot look back vs look ahead, which are the same params used by the tradingview pivot indicator. There are several other params you can tweaks to get the look you want.
Trend Regularity Adaptive Moving Average [LuxAlgo]The following moving average adapt to the average number of highest high/lowest low made over a specific period, thus adapting to trend strength. Interesting results can be obtained when using the moving average in a MA crossover system or as a trailing support/resistance.
Settings
Length : Period of the indicator, with higher values returning smoother results.
Src : Source input of the indicator.
Usage
The trend regularity adaptive moving average (TRAMA) can be used like most moving averages, with the advantage of being smoother during ranging markets.
Notice how the moving closer to the price the longer a trend last, such effect can be practical to have early entry points when using the moving average in a MA crossover system, such effect is due to the increasing number of average highest high/lowest low made during longer trends. Note that in the case of a significant uptrend followed by a downtrend, the moving average might penalize the start of the downtrend (and vice versa).
The moving average can also act as an interesting trailing support/resistance.
Details
The moving average is calculated using exponential averaging, using as smoothing factor the squared simple moving average of the number of highest high/lowest low previously made, highest high/lowest low are calculated using rolling maximums/minimums.
Using higher values of length will return fewer highest high/lowest low which explains why the moving average is smoother for higher length values. Squaring allows the moving average to penalize lower values, thus appearing more stationary during ranging markets, it also allows to have some consistency regarding the length setting.
🧙 this moving average would not be possible without the existence of corn syrup 🦎
Counting Support & Resistance LevelsA script I am working on to count higher highs and lower lows of levels. Still in progress...
Once it's working it will add a shape or a new colored line when a target number of higher highs has been achieved.
Double Zig Zag with HHLLHello Traders,
Here Double Zig Zag with HHLL script is with you. it calculates 2 Zig Zag simultaneously and draws them, and also it calculates and puts Higher High, Lower Low, Higher Low, Lower High labels. All these are done dynamically, it means last HH/HL/LL/LH can change. if price continues to go up then HL can turn to LL or if price continues to go down then LH can turn to HH. This script can be used for different purposes such trend analysis, support/resistance levels, breakouts etc.
I tried to make many things optional:
You can set Periods for Zig Zags as you wish
You can set different colors for both Zig Zag Up/Down lines
You have option to show both Zig Zag, one of them or none them
You have option to show both HHLL, one of them or none them
You can set Zig Zag 1 line style as Dashed or Dotted
You can set Line Widths for Zig Zags
Some examples:
Enjoy!
L1 Moving Average Fingerprint for Long EntryLevel: 1
Background
This script combines moving average processing with highest high and lowest low to disclose the "fingerprint" of a specific trading pair to describe its unique behavior.
Function
Moving Average Fingerprint for Long Entry is a Level 1 pine script. It utilize several moving average of inherent highest high and lowest low and combine them with customized fingerprint coefficients to depict the unique behavior of a specific trading pair across multiple markets for long entry point identification.
Key Signal
FingerPrint1~6 are basic-level fingerprints with moving average of highest high and lowest low.
FingerPrint7~8 are composite fingerprint definitions with coefficients/weights,where coefficients/weights need to be tuned to discover the inherent "fingerprint" of a specific trading pair.
FingerPrint10~12 are composite fingerprint calculation for long entry alerts
ReadytoLong is a long entry filter where long entry point may happen within it. By using crossover() function to a customized threshold value, you can define accurate long entries.
Pros and Cons
Pros:
1. Combine moving average and extreme points to disclose a trading pair behavior.
2. Smart to tune specific set of parameters to obtain unique fingerprints of trading pairs.
3. Smart position sizing scheme by adjusting the threshold values.
Cons:
1. Require tune input parameters for each trading pair in a specific period and time frame.
2. Only long entry was studied, no short entry and re-entry are available yet to form as a trading system.
3. "ReadytoLong" is an inaccurate range where multiple long entries may happen at improper points in chop market.
4. Complex input parameters to obtain a unique fingerprint set.
Remarks
Although I wrote pine script for more than two years, this is the first script published in the community. I will publish more with my works in this platform.
Hope the community can improve this concept and make it as a trading system.
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Previous Candle High and LowThis Indicator add's a label over and below the previous candle which show's it's high and low values.
Higher High and Lower Low Bar CountThe importance of counting HH&LL is to find the possible extreme of the current leg and the potential reversal.
This script helps you count the number of bars which are constantly higher or lower than the previous ones.
I set the script to count from the first one, but only display the number from the third, in order to eliminate too much noise.
Note : I have loosened the criteria of HH and LL.
Let's take "higher high" as an example, I will count the number If the current bar's low is higher than the previous one's and its high is higher or equal to the previous one's , and vice versa.
If you prefer the strict definition of HH or LL, you can modify the code as you wish.
Higher Highs & Lower Lows Stochastics - Vitali ApirineThis is my modified "Higher Highs & Lower Lows Stochastics" employing PSv4.0, originally formulated by Vitali Apirine for TASC - February 2016 Traders Tips. Reading through a TASC magazine of mine, behold, I found a little known indicator that I can't find anywhere on all of Tradingview. That was a tragedy I felt I had to resolve... This indicator is best described as a dual momentum indicator, being helpful with anticipating reversals, spotting emerging trends, and defining correction periods. I felt it worthy of justice to unveil this for all TV members to utilize and also learn from. It's uniqueness is beyond past due for the honor it deserves on Tradingview.
As always, I have included advanced Pine programming techniques that conform to proper "Pine Etiquette". For those of you who are newcomers to Pine Script, this code release may also help you comprehend the "Power of Pine" by employing advanced programming techniques while exhibiting code utilization in a most effective manner. This script's uniqueness displays that we can now override built-in Pine functions. Firstly, you may have noticed that I replaced ema(), sma(), highest(), and lowest(). If you weren't aware of this Pine capability, well, here is a prime example... Now you know! Just heed caution when doing so to ensure your replacement algorithms are 100% sound. Lastly, I also added an additional "Median" line where the companion stochastics seemingly appear to gravitate within a central zone.
NOTICE: You may have observed, there is highest(), lowest(), ema(), and sma() custom functions overwriting Pine built-ins, some of which are audaciously used in ternary. "IF" you are planning to use Pine Script v4.0 functions in ternary, be forewarned, they WILL NOT operate as expected in most scenarios. The reason why I legitimately used them here in ternary is because they are ONLY manually controlled by an input(). If these were dynamically controlled with bar-to-bar dynamic conditional logic, you would most certainly run into serious unexpected programming issues, potentially resulting in hours of frustrations and guaranteed loss of hair. That's my lesson for this release, so never ever forget this when utilizing the full potential of the "Power of Pine". For more information concerning these potential dilemmas, please consult "Execution of Pine functions and historical context inside function blocks" in the "Pine Script v4 User Manual".
Features List Includes:
Dark Background - Easily disabled in indicator Settings->Style for "Light" charts or with Pine commenting
AND much, much more... You have the source!
The comments section below is solely just for commenting and other remarks, ideas, compliments, etc... regarding only this indicator, not others. When available time provides itself, I will consider your inquiries, thoughts, and concepts presented below in the comments section, should you have any questions or comments regarding this indicator. When my indicators achieve more prevalent use by TV members, I may implement more ideas when they present themselves as worthy additions. As always, "Like" it if you simply just like it with a proper thumbs up, and also return to my scripts list occasionally for additional postings. Have a profitable future everyone!
Smart Indicator 28 - Swing Pivots (Higher Highs and Lower Lows)A simple way to find Higher Highs and Lower Lows (HH and LL) whit automatic Fibonacci Lines in the most common levels.
In this indicator the Higher Highs only happens when a high value are rising from each other in the last "Length of Real Pivots" highs and the next same number of highs are falling in every single bar.
The Lower Lows are inverted, LL only appears if a low is falling in every single bar in the last number of length and the lows price of the "n" bars next are rising.
You can use this Indicator in any kind of market.
Highs & LowsHigh and Lows Script.
For all the price action lovers out there.
Hope you all enjoy.
Thanks
Swing PointsThis indicator gives a clear indication of price action swing-points as well as an indication of whether it is a higher, lower, or equal swing point relative to the last high/low.
Swing Highs and Lows (version 2)My second version of plotting Swing Highs and Swing Lows
A Swing High (SH): a price bar high preceed by two lower highs (LH) and followed by two lower highs (LH)
This version enables you to ignores swing highs and lows when the market volatility is small and not suitable for trading.
Thus it will depict fewer number of SH and SL markers, making the chart a bit cleaner and easier for us to read.
Volatility is measured simply by the amount of pips moved within five consecutive bars: the default is set at 10 pips, meaning that when you take five consecutive bars and the gap of the highest high and the lowest low is less than or equal to 10 pips, it will not depict SH or SL markers.
To use this function, check "set volatility threshold?" box under the Format icon and set a threshold in pips.
(I typically trade EURUSD so the pips input is customized for that)
