RSI-Volume Oscillator Quick Scalping By Akhilesh PatelTitle: RSI-Volume Oscillator Quick Scalping Indicator
Description:
The "RSI-Volume Oscillator Quick Scalping" is a powerful and versatile custom indicator designed for traders who engage in scalping strategies. This indicator combines the Relative Strength Index (RSI) with a Volume Oscillator to provide valuable insights into momentum and volume dynamics in the market. Traders can also select their preferred moving average types (SMA, EMA, or HMA) to further customize the indicator's behavior.
Key Features:
RSI and Volume Oscillator Fusion: The indicator blends the RSI and a custom Volume Oscillator to offer a comprehensive view of both price momentum and volume trends. This integration provides valuable signals for quick scalping opportunities.
Customizable Moving Averages: Traders can choose from three popular moving average types (SMA, EMA, or HMA) for further customization. This flexibility allows users to align the indicator with their preferred trading strategies.
Clear Visualization: The Combined RSI-Volume Oscillator is plotted as a solid blue line, while the three selected moving averages are represented by orange, purple, and green lines, respectively. The zero line, overbought, and oversold levels for RSI are also indicated for easy reference.
Quick Scalping Signals: The indicator helps traders spot potential buy and sell signals efficiently, making it ideal for quick scalping strategies in rapidly moving markets.
Usage Instructions:
Customize the indicator by selecting your preferred RSI length, Volume Oscillator length, and moving average type (SMA, EMA, or HMA).
Observe the Combined RSI-Volume Oscillator and moving averages for potential entry and exit points.
Look for crossovers between the Combined RSI-Volume Oscillator and the selected moving averages for buy and sell signals.
The overbought (70) and oversold (30) levels for RSI can be used to identify potential reversal points.
Important Note:
Test the indicator on historical data and demo accounts before using it in live trading to ensure it aligns with your trading strategy.
Understand that no indicator guarantees profits, and trading involves risk. Always use proper risk management and discipline when executing trades.
Overall, the "RSI-Volume Oscillator Quick Scalping" indicator is a valuable addition to any scalper's toolkit, providing comprehensive insights into momentum and volume dynamics to enhance trading decisions. Happy scalping!
M-oscillator
TradeMaster OscillatorTrading effectively requires a range of techniques, experience, and expertise. From technical analysis to market fundamentals, traders must navigate multiple factors, including market sentiment and economic conditions. However, traders often find themselves overwhelmed by market noise, making it challenging to filter out distractions and make informed decisions. To address this, we present a powerful indicator package designed to assist traders on their journey to success.
The TradeMaster indicator package encompasses a variety of trading strategies, including the SMC (Supply, Demand, and Price Action) approach, along with many other techniques. By leveraging concepts such as price action trading, support and resistance analysis, supply and demand dynamics, these indicators empower traders to analyze entry and exit positions with precision. Unlike other forms of technical analysis that produce values or plots based on historical price data, Price Action brings you the facts straight from the source - the current price movements.
The indicator package consists of three powerful indicators that can be used individually or together to maximize trading effectiveness.
⭐ About the Oscillator Indicator
The Oscillator is an innovative and robust tool that encapsulates the principles of multiple technical analysis methodologies to enrich your trading strategy. By leveraging the combination of our six unique indicators, it can provide a comprehensive and multi-dimensional view of market dynamics.
👉 Usage - the general approach:
Utilize the Oscillator Indicator as a confirmational tool. The Oscillator acts as a tool to validate ideas and strategies. By analyzing the oscillator's readings, you gain additional insights into market momentum, overbought or oversold conditions, and potential trend reversals. This confirmation step helps you avoid false signals and make more informed trading choices.
👉 We are focusing on the default setting of the TradeMaster Oscillator, which incorporates the Global RSI* as main oscillator and Local RSI* as confirmational oscillator. This base configuration can be custom-tailored to your preference, leveraging the additional combination of our six unique indicators.
Understand the difference between Global and Local RSI: The Global RSI represents broad relative strength, while the Local RSI describes the relative strength within wider movements. It's like having both a macro and micro view of relative strength.
Identify extreme values in Local RSI: Look for extremes in the Local RSI (overbought/oversold in Stochastic RSI). These often indicate a turning point in the RSI, which naturally reflects in the price. The Local RSI extremes are shown as dots outside the Global RSI bands in a "heatmap" style.
Smooth your RSI: You have the option to smooth your RSI with your preferred smoothing method (SMA , SMMA, EMA, DEMA, TEMA, LSMA, HMA, VWMA, WMA) and length.
Please bear in mind that high smoothing values can make the standard RSI extremes (>70 or <30) suboptimal or even useless. To address this potential problem, Adaptive levels were introduced.
Adaptive key levels for more relevant extremes: enabling Adaptive levels recalibrates extremes based on the historical RSI turning points (typical median turning points), providing much more relevant reference points for overbought/oversold states in both Global and Local RSI. This function can be used without smoothing but rarely provides significant difference unless you experiment with the length of RSI calculation.
Incorporate multiple indicators: besides Global and Local RSI, you can display six different proprietary indicators in the main oscillator theme. By choosing from these, you can apply the confirming condition as well. These include Sentiment (Fear and greed), Momentum, Trend Strength, Volume, and Volatility. These indicators use our TRMA** method to provide a comprehensive overview of market dynamics.
Choose your Global RSI display style: the Global RSI can be represented in candle, bar, line or ribbon form. Candles and bars can be useful for detecting rejections of relative strength (wicks), similar to OHLC data. Sometimes there are "hidden rejections" visible in relative strength but not in OHLC data, which naturally presents an advantage.
Customize the colors: All colors can be adjusted from the input menu to suit your preferences. This personalization allows you to make the Oscillator clear and intuitive for your individual trading style as possible.
Monitor Real-time Indicator values: In the bottom right corner, you can view real-time color-coded indicator values. This feature gives you the ability to quickly assess the market's current conditions without needing to navigate away from the chart.
Use multiple indicators in conjunction: while each indicator within the Oscillator provides valuable insights, their true power lies in their combination. Identify alignment among indicators to validate potential trades. For instance, when a bullish sentiment indication aligns with a low volatility reading, it may suggest a favorable buying opportunity.
Consider the market context: while the Oscillator provides a robust set of tools, always consider other aspects of the market environment. Use the oscillator in conjunction with other technical, fundamental, or sentiment analysis methods to develop a comprehensive trading strategy.
🛑 Remember, the oscillator should be used as a confirmational tool in your overall trading strategy. Make reasonable use of all its features, and always keep risk management principles in mind.
* By default, these are fine-tuned RSI and Stochastic RSI indicators.
** TRMA (Trend Rainbow Moving Averages) is a complex but customizable moving average matrix calculation that is designed to accurately measure market trend direction, strength and shifting.
⭐ Conclusion
We hold the view that the true path to success is the synergy between the trader and the tool, contrary to the common belief that the tool itself is the sole determinant of profitability. The actual scenario is more nuanced than such an oversimplification. Our aim is to offer useful features that meet the needs of the 21st century and that we actually use.
🛑 Risk Notice:
Everything provided by trademasterindicator – from scripts, tools, and articles to educational materials – is intended solely for educational and informational purposes. Past performance does not assure future returns.
AlexD Intraday market footprintThe indicator shows probability of a moving average non reversal at certain moment of day.
IMF_Predict line shows the probability of a reversal for the specified period.
moving average - period/2 shifted sma of typical price ( (close+high+low)/3 ).
Parameters:
Number of days - previous days to calculate the probability
SMA filter period - chart smoothing period
IMF smooth period - additional indicator smoothing after calculation
IMF predict period - period for calculating the probability of a reversal in the next N bars
Skip N hours in days(optimisation) - I recommend a half of the normal session time. Low values - long calculation time, High values - skipping days.
Anit Momentum IndicatorAnit Momentum Indicator: A Powerful Trend Continuation Tool for Long-Only Strategies
The "Anit Momentum Indicator" (AMI) is a powerful technical analysis tool designed to assist traders in identifying potential trend continuation opportunities in the financial markets. Unlike traditional trend reversal indicators, AMI is specifically crafted for long-only strategies, making it an ideal tool for traders seeking to capture sustained uptrends.
Concepts and Functionality:
1. Momentum Calculation:
The Anit Momentum Indicator begins by calculating the momentum of the closing price over a specified period. Momentum represents the rate of price change, offering clues about the strength and direction of price movements during the chosen duration.
2. RSI for Trend Continuation:
The script then applies the RSI to the previously computed momentum values. The RSI is a well-known oscillator used to measure the speed and magnitude of price changes. By utilizing the RSI on momentum data, the Anit Momentum Indicator gains a distinct advantage in gauging the strength of price momentum, leading to more accurate trend evaluations.
3. Rescaling for Better Visualization:
To enhance visual clarity and maintain consistent representation, the RSI on Momentum is rescaled to range from 0 to 100. This normalization ensures that the indicator's values remain within a fixed range, making it easier for traders to identify crucial overbought and oversold regions.
How to Use the Indicator:
Long-Only Strategy:
The AMI is most effective in long-only strategies. Traders can deploy the indicator to identify promising opportunities to go long on a stock or asset. A long position is established when the AMI crosses above 50, signaling a robust upward momentum.
Trend Continuation Confirmation:
The AMI's ability to capture trend continuation opportunities allows traders to stay invested in an uptrend for an extended period. As long as the AMI remains above 50, the uptrend is considered intact, and traders may continue to hold the position.
Higher Timeframe Advantage:
The AMI's effectiveness is further enhanced on higher timeframes. Longer timeframes provide a more reliable and sustained view of the underlying trend, giving traders greater confidence in their long-only strategies.
Conclusion:
The Anit Momentum Indicator is a valuable tool for traders pursuing trend continuation strategies, specifically long-only approaches. By leveraging the concept of momentum and RSI, the AMI helps traders identify and participate in sustained uptrends. With its focus on trend continuation rather than reversals, the AMI can be a key component in building successful long-only trading strategies, especially on higher timeframes. Traders can use this indicator to stay invested in robust uptrends, maximizing their profit potential while minimizing exposure to counter-trend moves by staying long till AMI value is greater than 50,it is better to stay away or exit from the asst class when AMI value is less than 50.
Normalized Close IndicatorThe central aspect of this indicator is the computation of a normalized close price. The normalized close price is computed by first determining the highest and lowest closing prices over a specified historical period. This highest and lowest value form the boundaries of the historical price range.
Once these bounds are established, the current closing price's position within this range is calculated. This is done by subtracting the lowest close from the current close and dividing the result by the range (the highest close minus the lowest close). This yields a value between 0 and 1, which is then multiplied by 100 to provide a percentage. This is not calculating percentile rank, but often it overlaps.
This percentage represents where the current close price stands relative to the historical price range. If the value is near 0, it indicates that the current close price is near the historical low, potentially signaling an oversold condition. Conversely, if the value is near 100, it suggests that the current close price is near the historical high, possibly indicating an overbought condition.
By using this approach, the indicator helps identify points at which the price may be considered relatively high (overbought) or low (oversold) compared to its recent historical range.
Additionally alerts are to switch from long to short and vice versa, for the most part, my strategy that incorporates this indicator is either long or short, sometimes though, the opposite bounds (high level for longs and low level for shorts) are not reached, then stop loss and take profit levels are needed.
I discovered it works fine on markets that spend most of time in a range like BTC/USD, adjustment needs to be done in user inputs and in Pine Script (length) for different exchanges, in current configuration works fine for me on Deribit Perpetuals (BTCUSD.P and ETHUSD.P), on 5 minute and 3 minute timeframes with a stop loss of 1.5% and take profit of 4.5% for BTCUSD.P and 1.7% and 5.1% for ETHUSD.P.
Advanced Cumulative TrendThis is advanced version of Cumulative trend Indicator. The "Advanced Cumulative Trend" indicator calculates the strength and direction of a market trend by incorporating volume and volatility adjusted price changes. It uses various time frames to compute intermediate metrics such as price change, intraday volatility, and volume adjustments. Traders can customize the indicator by selecting which calculations to include in the average, allowing for personalized trend analysis. The indicator then derives the cumulative sum of the average volume and volatility adjusted price change to evaluate the overall trend direction. Additionally, users have the flexibility to toggle between two visualization options: the ROC histogram and the average cumulative sum for trend analysis. They can choose to display either the ROC histogram or the average cumulative sum (trend) plot separately, based on their preference or focus. providing valuable insights into trend momentum and potential reversals. (DO NOT HAVE BOTH ON SAME PLOT IT MAKES VISULIZATION HARD)
The primary calculation remains the same but it calculates the volume and volatility adjusted price on three different time frames and Users can customize the indicator by selecting which calculations (time frame) to include in the average," it means that the code allows traders or analysts to have control over which specific calculations are used to compute the average volume and volatility adjusted price change. The indicator offers flexibility in choosing the underlying data points and time frames that contribute to the final trend analysis.
In the code, this customization is achieved through the use of three input options: useCalculation1, useCalculation2, and useCalculation3. Each of these options corresponds to a specific set of volume and volatility adjusted price change calculations with different time frames.
For example, if a user wants to include calculations based on a shorter time frame, they can enable useCalculation1. If they prefer calculations based on a longer time frame, they can enable useCalculation3. If they don't want to include a particular calculation in the average, they can simply disable the corresponding option.
By selecting or deselecting these options, users can tailor the indicator to their trading preferences and strategies. This flexibility allows them to experiment with different combinations of calculations to gain deeper insights into the trend's behavior across various time frames. Ultimately, the ability to customize the indicator empowers users to adapt it to different market conditions and improve the accuracy of their trend analysis.
Calculation of Volume and Volatility Adjusted Price Change:
The term "previous" refers to the average of the previous data points over a defined length. Instead of considering the exact previous data point, the code calculates the average of a specific number of preceding data points. It enables the consideration of multiple preceding values, resulting in a smoother representation of trends and a more robust analysis of the data
The indicator starts by calculating the price change as a percentage relative to the previous opening price.
It determines the standard deviation of the close prices, providing a measure of price volatility.
The coefficient of variation is calculated by comparing the standard deviation to the previous close price.
Intraday volatility is calculated as the difference between the high and low prices divided by the close price.
Various ratios are derived by comparing the current volume to the previous volume and relating the intraday volatility to the coefficient of variation.
Cumulative Sum:
The Volume and Volatility Adjusted Price Change values are cumulatively summed to form the cumulative sum.
This cumulative sum represents the overall trend of the price changes, incorporating the impact of volume and volatility.
Average Cumulative Sum:
The average cumulative sum is calculated by applying a simple moving average to the cumulative sum over a specified window size.
This moving average helps smooth out the cumulative trend and highlights the general direction of the price changes.
Average Cumulative Sum Change:
The change in the average cumulative sum is determined by subtracting the previous average cumulative sum value from the current value.
This calculation provides insights into the rate of change in the cumulative trend.
Color Determination:
Thresholds are introduced to define levels at which the trend is considered to change.
The average cumulative sum change is compared against these thresholds.
If the average cumulative sum change exceeds the upper threshold, the color is set to green, indicating a potential upward trend.
If the average cumulative sum change falls below the lower threshold, the color is set to red, indicating a potential downward trend.
If the average cumulative sum change is within the threshold range, the color is set to a yellowish tone, indicating a neutral or transitional phase.
Plotting:
The average cumulative sum is plotted as a line on the chart.
The color of the line is determined based on the calculated color value, reflecting the perceived trend direction.
In summary, the Cumulative Trend indicator integrates volume, volatility, and price changes to provide a cumulative perspective on the trend. It tracks the cumulative price changes, calculates the average trend, and visually represents potential trend shifts through color changes. Traders and analysts can utilize this indicator to identify and monitor changes in the underlying trend, aiding in decision-making and market analysis.
Price Acceleration Indicator (PAI)I have designed a "Price Acceleration" Indicator (PAI). It tracks the second derivative in price movements. This is different from ROC as that one measures Price Velocity rather than Acceleration. This Indicator should give you an idea of when the steam has come out of a move, or when one is getting started. For example, if RSI is reaching overbought, and PAI is Negative, that means the move is slowing down and likely to give in to the opposite direction soon.
CoinFxPro Range indicator V 1.0This indicator has a structure that combines daily and weekly pivot levels, moving averages, and strength index-linked oscillators. The purpose of the indicator is designed to analyze price movements and identify potential trend reversals. Daily pivot levels are helpful in identifying critical support and resistance zones, while moving averages and oscillators indicate overbought or oversold situations in the price.
It is very simple to use and simple in appearance.
Triangular Signals appearing on the chart screen come when the price touches the daily or weekly support and resistance levels.
If you want the signals to be received less or more healthy, I added the filtering feature. In this way, you can filter the incoming signals through the volume or volatility filter, so that less signals are received.
On the other hand, the 4 timeframe rsi values of the price for daily use of the indicator are also given in the table.
You can change the RSI timeframes as you wish.
In this way, it is seen more clearly whether the signal is healthy and provides convenience while trading.
Evaluation of incoming signals;
First of all, when the signal occurs, pay attention to whether the RSI values that occur in the timeframe you trade and in other timeframes are overbought (red) or oversold (green).
When the signal comes, I buy or sell, especially if the RSI values in the 5 minutes, 15 minutes and 1 hour time periods are overbought or oversold.
If you wish, you can try a different strategy for yourself.
After the healthiest of the signals on the chart comes, the RSI values are also at overbought or oversold levels in 5-15 minutes and 1 hour timeframes and if there is a Trendline line above or below the price, it is out of that region.
A healthy buying or selling transaction can be made.
It should be noted that since risk = return, high risk means high return. High risk must be taken for high returns. Therefore, I recommend that you do not exceed 10% of your capital as margin when trading with leverage.
When trading, I always recommend trading with additional confirmation from a different indicator.
I also added a filtering feature to the indicator to block market structure related variables. Those who want to use can also use filtering.
I have added the automatic trendline for ease of trading. You can increase or decrease the number of trend lines as you wish.
I just published the indicator for daily use.
Buyers & Sellers / RangeBuyers & Sellers / Range
Volatility oscillator that measures the relationship of Buying & Selling Pressure to True Range.
In other words, how much % Buyers and Sellers separately occupy the Bar
BSP is a part of Bar Range. Entire bar metrics will always have bigger value than its composite elements (body and wicks).
Since there will be NO chance of BP or SP being more than ATR, their ratio would serve crucial Volatility details.
Hence, we can relate each of them to the overall range.
As a result we have simultaneous measurements of proportions buyers and sellers to the bar.
Default mode shows BP/ATR and SP/ATR mirrored. When one rises, the other falls to compensate.
Buying Pressure / True Range ⬆️🟢 ⬇️🔵
Selling Pressure / True Range ⬆️🔴 ⬇️🟠
They are being averaged in 2 different ways:
Pre-average first, then relate as ratio
Related first, then Averaged
Enable "Preaveraged" to use already averaged BSP and Ranges in ratio instead of averaging the ratio of BSP to individual bar. For example, we're looking BP/ATR, in calculation of buyers / Range it will use "MA(Buying Pressure) / MA(True Range)" instead of "MA(Buying Pressure / True Range)".
Due such calculation, it is going to be more lagging than in off mode. Nevertheless, it reduces noise from the impact of individual bar change.
Second way of noise reduction is enabling "Body / Range"
BSP Body / Range where Bullish & Bearish Body = Buying & Selling Pressure - Relevant Wick
Buying Body = Buying Pressure - Lower Wick
Selling Body = Selling Pressure - Upper Wick
And only then it is divided to ATR.
Note that Balance line differs because body is less than it used to be with wicks. So change in wicks won't play any role in computing the ratio anymore. Thus, signals of their crossings will be more reliable than in default mode.
Pseudo-Entropy Oscillator with Standard Deviation (modified)Intuition: The Pseudo-Entropy Oscillator with Standard Deviation (PEO_SD) was created to provide traders with a way to analyze market momentum and potential reversals. It combines the concepts of entropy, standard deviation, and moving averages to offer insights into market behavior.The oscillator's core idea is to measure the pseudo-entropy of the market using standard deviation. Pseudo-entropy refers to the degree of disorder or randomness in the price data. By calculating the standard deviation of the closing prices over a specified period, the oscillator quantifies the market's volatility.To enhance the usefulness of the pseudo-entropy measurement, the oscillator incorporates moving averages. The entropy delta is calculated by applying momentum analysis to the pseudo-entropy values. This helps identify short-term changes in the entropy, indicating shifts in market sentiment or momentum.The oscillator further smoothes the pseudo-entropy values by calculating the simple moving average (SMA) over a specified length. This helps filter out noise and provides a clearer representation of the market's overall momentum.
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The "Pseudo-Entropy Oscillator with Standard Deviation" (PEO_SD) is a custom indicator designed to help traders analyze market momentum and potential reversal points. It can be applied to various markets like stocks, commodities, forex, or cryptocurrencies. By using this indicator, you can gain insights into the market's behavior and make more informed trading decisions.
The PEO_SD indicator plots three lines on your chart: the fast pseudo-entropy line, the medium pseudo-entropy line, and the slow pseudo-entropy line. Each line represents the combined pseudo-entropy values, which are calculated using standard deviation and moving averages.
The lines are color-coded for easy identification. The fast line is represented by blue, the medium line by yellow, and the slow line by red. Additionally, three horizontal reference lines are plotted: the mid line (at 50), the lower bound (at 20), and the upper bound (at 80).
To use this indicator effectively, you can observe the interactions of the lines with the reference lines. For example, when any of the lines cross above the mid line, it might indicate a bullish signal, suggesting an upward price movement. Conversely, a crossover below the mid line could be a bearish signal, indicating a potential downward price movement. If the lines reach the upper bound, it might suggest that the market is overbought, and a reversal could be imminent. Conversely, reaching the lower bound may indicate that the market is oversold, possibly leading to a price reversal.
By applying the PEO_SD indicator and studying the lines' movements, you can gain valuable insights into market momentum, identify potential reversal points, and make more informed trading decisions.
Normalized Advanced Decomposition OscillatorThe motivating intuition behind this:
The principles behind the decomposition of sound can be extrapolated to other types of data, such as stock price movements or time series data.
Sinusoidal (Sine) Components: These could correspond to long-term trends in the stock market, similar to how a sine wave has a consistent and predictable pattern. These might be driven by broader economic trends, market cycles, or long-term company performance.
Noise Components: This could represent the daily volatility and fluctuations in stock prices that seem to be random or caused by unpredictable events. Noise is usually considered to be statistical outliers or "random walk" components in the time series data.
Transient Components: These could correspond to sudden and significant changes in stock price, such as those caused by earnings announcements, geopolitical events, or changes in company leadership. They are typically short-lived but can have a large impact, similar to transients in sound.
How's it different?
Unlike your usual run-of-the-mill indicators, our Normalized Advanced Decomposition Oscillator (NADO) breaks down price movements into three parts: the Trend, the Noise, and the quick, notable price changes we call the Transient. Each of these gets its own line on the chart, giving you a comprehensive breakdown of what's going on in the market. Plus, they're all normalized so you can easily compare 'em.
How to use it?
It's pretty straightforward. The blue line shows the trend, the red line represents market noise or volatility, and the green line flags significant short-term price changes. If the green line pops above the blue, you might be seeing a price increase soon. If it dips below the blue, get ready for a potential price drop. See the red line going crazy? That's market noise increasing, meaning things might get a bit unpredictable.
Which markets is it meant for?
NADO is a versatile beast. It'll work in markets that see a lot of price volatility. If you're finding it hard to pin down the trend because of all the noise, NADO is your best friend.
Best conditions to use it?
This tool shines in uncertain markets. If the market's all over the place and you can't make heads or tails of the trend, whip out the NADO. It'll separate the trend from the noise, making it easier for you to see what's going on.
PC*VC Moving Average oldThe code calculates the "Price Coefficient" (PC) and "Volume Coefficient" (VC) for three different lengths. PC is calculated by taking the difference between the current price (close or TP) and the simple moving average of the price, divided by the mean absolute deviation around the (MAD) of the price. VC is calculated by dividing the current volume by the simple moving average of the volume for each length.
The code calculates the "Intraday Volatility" (IDV), which is the difference between the high and low prices divided by the price.
The code calculates the average IDV for each of the three lengths.
The code calculates the "IDV Ratio" by dividing IDV by the average IDV for each length.
The code calculates the "PC*VC/IDV Ratio" for each length by multiplying PC, VC, and IDV Ratio.
The code calculates the average PC*VC/IDV Ratio by averaging the three calculated ratios.
The code calculates the moving average of the average PC*VC/IDV Ratio using the user-defined moving average window size.
The code performs calculations to determine the average and standard deviation of PC*VC/IDV Ratio for positive and negative values separately, using the user-defined look-back length. It stores the positive and negative values in separate variables.
The code plots the PC*VC/IDV Ratio as a line on the chart. The color of the line is determined based on its value. If the value is greater than 2, it is plotted in green. If the value is between 0 and 2, it is plotted in a yellowish color. If the value is negative, it is plotted in red.
The code plots lines representing the mean plus 1.5 standard deviations (SD) for positive values, the mean plus 3 SD for positive values, the mean minus 1.5 SD for negative values, and the mean minus 3 SD for negative values. These lines help identify potential overbought or oversold conditions.
The code plots the overall average of the PC*VC/IDV Ratio as a line on the chart.
Overall, this code calculates the PC*VC/IDV Ratio indicator, which combines price, volume, and intraday volatility information. The indicator's values are plotted on the chart, along with reference lines indicating potential overbought or oversold conditions.
Top - Bottom Using MAThis script is used decide weather stock is overbought or oversold in given length/days from the settings.
using close difference from ohlc4 moving average ratio.
Settings Available
1) moving average length
2) Highest / Lowest ratio length
3) Difference Between Highest and Lowest Line
this script plot/display 4 lines
1) highest difference from moving averages in provided length.
2) lowest difference from moving averages in provided length.
3) ratio of moving average and ohlc4
4) linear regression moving averages of ratio of moving average and ohlc4
How to use this script
1) when ratio line is touch 2 days to highest ratio line means we are consider stock is in overbought levels or linear regression moving average above highest ratio line means overbought.
2) when ratio lines cross below its linear regression moving average then we consider final exit or book profit.
3) when linear regression moving average below lowest ratio line means stock is in oversold.
4) when linear regression moving average below lowest ratio line and linear regression line start rising after fall it means there is change in trend.
5) when linear regression moving average cross above lowest ratio line it means trend is changed and linear regression line turns green.
MACD Fake Filter [RH]Introducing a new indicator for the TradingView community based on the MACD indicator! This innovative tool goes beyond traditional MACD signals by analyzing positive and negative waves to determine the average height of the waves to filter false cross-over or cross-under signals during the sideways market.
There are two types of waves created by the MACD line, one is a positive wave above the "zero" line and another is a negative wave below "zero" line. Each wave has peaks. This indicator will find the average height of the positive waves' peaks and plot as a green line(by default). Vice-versa it will also find the average height of the negative waves' peaks and plot as a red line(by default).
Example :
This indicator will show labels when the MACD line crosses-under the MACD signal line above the average height of the positive waves.
Vice-versa, the indicator will show labels when the MACD line crosses-above the MACD signal line below the average height of the negative waves.
Example:
Alerts are also available for these types of cross-over and cross-under.
StDev RSI +Alright, let's dive into this script, which I like to call 'StDev RSI+'. It's a unique take on the classic Relative Strength Index (RSI), a popular tool among traders that helps identify potential overbought or oversold conditions in a stock. But what makes our StDev RSI+ special is how it normalizes price changes against the standard deviation, taking into account the volatility of the stock prices.
The main difference between the original script and this new 'StDev RSI+' script lies in the method of normalization used to calculate price changes. In the original script, the normalization was done using the average of current and previous closing prices. This approach is quite simple and direct, essentially comparing the day-to-day change relative to the average price.
However, the StDev RSI+ script takes a more sophisticated approach. It normalizes the price changes against the standard deviation of the closing prices over a defined period. This method takes into account the volatility of the stock price, providing a measure of how much the prices have been fluctuating during that period.
This means the StDev RSI+ script doesn't just look at the raw change in price, but rather it considers how significant that change is compared to the usual volatility of the stock. So, a big price change may not be considered as significant if the stock is typically very volatile. Conversely, a smaller price change could be seen as more meaningful if the stock is usually quite stable.
Another notable difference is the length of the period used for calculations. While the original script used a period of 14 units (days, weeks, etc.), the StDev RSI+ script uses a period of 153 units. This longer timeframe will smooth out the RSI line and make it less sensitive to individual price changes, but more reflective of longer-term trends.
In essence, while both scripts aim to provide useful trading signals through the RSI, they offer different perspectives. The original script provides a more straightforward, immediate view of price changes, while the StDev RSI+ script offers a volatility-adjusted, longer-term perspective.
ARSIXARSIX
I have written this indicator after two years of continuous experience in writing and backtesting for several different indicators, and I believe that this indicator with its high capabilities can show you the best point of entry into the market as well as exit from it. arsix should work with any time frame and any instrument used.
This indicator has many points to understand so that you can make the best possible use of it, in the following I will try to bring you some of the most important points:
First, we will have an introduction of the different parts of the indicator:
The above line is a relatively simple but very useful formula to determine the momentum of chart. To understand the exact formula, you can refer to the source of the program itself, and its two colors are used to determine the direction of movement.
At the bottom, we have three opposing elements.
The first is the RSI14 line with dark blue color, the second is the RMA or Relative Momentum Index(RMI20) line with the number 20 for Momentum , which will significantly help us understand the overall momentum of the chart, this part is also made in two colors to increase or It will show the decline of the overall momentum of the chart.
And finally, we have a bar chart that is again created in two colors, and this histogram also calculates the momentum chart with a different formula.
And now let's talk about how to interpret these tools and how to use them for Trading:
At first, you may have the question that all these different indicators are not excessive to determine the momentum chart and are all of them necessary? In response, I must say that yes, each of these parts has been selected and made with great care and with my previous experience, the full explanation of each of these parts is beyond the scope of this article, and I will try to explain it in short words. I will give you a general understanding of each one of them and the rest is up to you to find out their capabilities by working more with these tools.
The main thing is to know that none of these tools alone will bring you success and it is their teamwork together that will help you achieve success.
For the sake of simplicity, I will tell you when to open a buy position with this indicator And you can then use this definition of the main thread to interpret the rest of the capabilities of this indicator.
To open a buy position, first the upper indicator should turn light blue, at the same time, the RMI indicator should also turn light blue, and you should also see that this RMI indicator shows the momentum of the overall chart in order to increase. in this case you will be almost sure that the general trend of the chart is towards the rise of the price. In the next step, to determine the exact point of the Entry, you have to wait until the RSI indicator passes the number 50 in this state and at the same time, make sure that the histogram also turns green and shows the increasing direction of momentum in the market, when the RSI is in This state crossed the number 50, you can enter the buy position, it should be noted that due to a series of restrictions, I have moved the RSI indicator down by 50 numbers, so as a result, the number 50 for RSI here is equivalent to The same number zero.
This was an example of how to work with this indicator, I hope that it helped you to understand how to use this indicator. In the end, I would like to point out again that the main topic is understanding the group and mutual behavior of each of the indicators' tools together. For example, if the RSI indicator crosses the number 50 here, but the histogram does not grow or shows a small growth, this indicates that the movement will be low, or for another example, if the RSI indicator cross over From the RMI indicator, This means that the market is very high, and as a result, it is a great opportunity to hold a buy position. In the same way, other parts of this indicator can also be interpreted in opposition to each other.
I hope this indicator will help you in better trades. I look forward to your constructive comments. Thanks Hamid Moradi.
Advanced Volatility-Adjusted Momentum IndexAdvanced Volatility-Adjusted Momentum Index (AVAMI)
The AVAMI is a powerful and versatile trading index which enhances the traditional momentum readings by introducing a volatility adjustment. This results in a more nuanced interpretation of market momentum, considering not only the rate of price changes but also the inherent volatility of the asset.
Settings and Parameters:
Momentum Length: This parameter sets the number of periods used to calculate the momentum, which is essentially the rate of change of the asset's price. A shorter length value means the momentum calculation will be more sensitive to recent price changes. Conversely, a longer length will yield a smoother and more stabilized momentum value, thereby reducing the impact of short-term price fluctuations.
Volatility Length: This parameter is responsible for determining the number of periods to be considered in the calculation of standard deviation of returns, which acts as the volatility measure. A shorter length will result in a more reactive volatility measure, while a longer length will produce a more stable, but less sensitive measure of volatility.
Smoothing Length: This parameter sets the number of periods used to apply a moving average smoothing to the AVAMI and its signal line. The purpose of this is to minimize the impact of volatile periods and to make the indicator's lines smoother and easier to interpret.
Lookback Period for Scaling: This is the number of periods used when rescaling the AVAMI values. The rescaling process is necessary to ensure that the AVAMI values remain within a consistent and interpretable range over time.
Overbought and Oversold Levels: These levels are thresholds at which the asset is considered overbought (potentially overvalued) or oversold (potentially undervalued), respectively. For instance, if the AVAMI exceeds the overbought level, traders may consider it as a possible selling opportunity, anticipating a price correction. Conversely, if the AVAMI falls below the oversold level, it could be seen as a buying opportunity, with the expectation of a price bounce.
Mid Level: This level represents the middle ground between the overbought and oversold levels. Crossing the mid-level line from below can be perceived as an increasing bullish momentum, and vice versa.
Show Divergences and Hidden Divergences: These checkboxes give traders the option to display regular and hidden divergences between the AVAMI and the asset's price. Divergences are crucial market structures that often signal potential price reversals.
Index Logic:
The AVAMI index begins with the calculation of a simple rate of change momentum indicator. This raw momentum is then adjusted by the standard deviation of log returns, which acts as a measure of market volatility. This adjustment process ensures that the resulting momentum index encapsulates not only the speed of price changes but also the market's volatility context.
The raw AVAMI is then smoothed using a moving average, and a signal line is generated as an exponential moving average (EMA) of this smoothed AVAMI. This signal line serves as a trigger for potential trading signals when crossed by the AVAMI.
The script also includes an algorithm to identify 'fractals', which are distinct price patterns that often act as potential market reversal points. These fractals are utilized to spot both regular and hidden divergences between the asset's price and the AVAMI.
Application and Strategy Concepts:
The AVAMI is a versatile tool that can be integrated into various trading strategies. Traders can utilize the overbought and oversold levels to identify potential reversal points. The AVAMI crossing the mid-level line can signify a change in market momentum. Additionally, the identification of regular and hidden divergences can serve as potential trading signals:
Regular Divergence: This happens when the asset's price records a new high/low, but the AVAMI fails to follow suit, suggesting a possible trend reversal. For instance, if the asset's price forms a higher high but the AVAMI forms a lower high, it's a regular bearish divergence, indicating potential price downturn.
Hidden Divergence: This is observed when the price forms a lower high/higher low, but the AVAMI forms a higher high/lower low, suggesting the continuation of the prevailing trend. For example, if the price forms a lower low during a downtrend, but the AVAMI forms a higher low, it's a hidden bullish divergence, signaling the potential continuation of the downtrend.
As with any trading tool, the AVAMI should not be used in isolation but in conjunction with other technical analysis tools and within the context of a well-defined trading plan.
Volume Price Trend (VPT)
The Volume Price Trend (VPT) is a technical analysis indicator that combines price and volume data. It's used to identify the direction of a trend or to confirm the strength of a trend. The indicator was developed on the premise that volume often precedes price.
Working of VPT:
VPT is calculated by adding or subtracting a multiple of the percentage change in the share price trend and current volume, depending upon the direction of the share price. The starting point of the VPT line is arbitrary.
The formula for calculating VPT is:
VPT = Previous VPT + Volume x (Today's Close - Previous Close)
This formula adds the total volume traded on the days the price went up, and subtracts the total volume on the days the price went down.
For each period:
If the closing price is higher than the previous closing price, the volume for that period is added to the previous VPT.
If the closing price is lower than the previous closing price, the volume for that period is subtracted from the previous VPT.
If the closing price is the same as the previous closing price, the volume for that period does not affect the VPT (i.e., it remains the same as the previous VPT).
Usage and Interpretation of VPT:
The primary use of the VPT is to help confirm the condition of prices. It’s usually used in combination with other technical analysis indicators. Here are some ways traders use the VPT:
Trend Confirmation: A rising VPT line typically confirms an uptrend as it shows that volume is increasing as prices increase. Conversely, a falling VPT line confirms a downtrend.
Divergences: Traders often look for divergences between the VPT and price movements as a sign of upcoming reversals. If prices are rising and the VPT is falling, it suggests that the upward trend may not sustain because it isn't being supported by volume. Similarly, if prices are falling and the VPT is rising, it suggests the downward trend may reverse soon.
Change in Trend: A sudden sharp increase in the VPT could signal a possible change in trend. This is based on the belief that volume changes before price.
In the script provided, the VPT is calculated and then rescaled to a 0-100 scale, which makes it easier to compare across different stocks or time periods. This script also colors the VPT line based on whether it's increasing or decreasing. The color is green when VPT is increasing, and red when it's decreasing.
Enjoy!
[MAD] WaveBuilderThe WaveBuilder indicator is a powerful technical analysis tool that combines wave calculations, channel formation, and smoothing techniques to identify trends, reversals, and potential trading opportunities.
It provides users with customizable settings for different timeframes, smoothing averages, channel levels, and alert conditions, making it a comprehensive and versatile tool for analyzing market dynamics.
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Wave Settings:
The Wave Settings section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the wave calculations based on different timeframes and lengths. This section focuses on four different lengths. Here are the details of the Wave Settings (4 Lengths):
Timeframe 1 (TF1): This parameter allows you to select the first timeframe for the wave calculation. You can choose any valid timeframe.
Weight (F1): This setting represents the weight for Timeframe 1. It is a floating-point value that affects the impact of this timeframe in the wave calculation.
Multiplier 2 (TF2): This parameter specifies the multiplier for the second timeframe. It determines the ratio between Timeframe 2 and Timeframe 1.
Weight (F2): This setting represents the weight for Timeframe 2. It determines the influence of Timeframe 2 in the wave calculation.
Multiplier 3 (TF3): This parameter defines the multiplier for the third timeframe. It determines the ratio between Timeframe 3 and Timeframe 1.
Weight (F3): This setting represents the weight for Timeframe 3. It determines the impact of Timeframe 3 in the wave calculation.
Multiplier 4 (TF4): This parameter specifies the multiplier for the fourth timeframe. It determines the ratio between Timeframe 4 and Timeframe 1.
Weight (F4): This setting represents the weight for Timeframe 4. It determines the influence of Timeframe 4 in the wave calculation.
WaveBuilder Fast: This parameter sets the length of the fast wave average. It represents the number of bars considered in the calculation of the fast wave average.
WaveBuilder Slow: This parameter sets the length of the slow wave average. It represents the number of bars considered in the calculation of the slow wave average.
The Wave Settings allow you to configure different timeframes, multipliers, and weights for wave calculations. These settings provide flexibility in customizing the indicator's behavior based on your preferred trading strategy and market conditions.
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Counter Oscillator:
The Counter Oscillator section in the Multitimeframe WaveTrend indicator enables you to configure parameters related to a counter oscillator. This oscillator helps identify potential reversals or countertrend movements.
Here are the details of the Counter Oscillator settings:
Multiplier Counter (TF5): This parameter allows you to select the multiplier counter timeframe. It determines the ratio between the multiplier counter and the main timeframes.
Weight (F5): This setting represents the weight for the multiplier counter. It determines the influence of the multiplier counter in the counter oscillator calculation.
Length (will_length): This parameter sets the length or period of the counter oscillator. It represents the number of bars considered in the counter oscillator calculation.
The Counter Oscillator settings provide additional insights into the market by analyzing countertrend movements. By adjusting the multiplier counter and length parameters, you can customize the counter oscillator to suit your trading preferences.
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Wave Smoothing and Mixing:
The Wave Smoothing and Mixing section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the smoothing and mixing of the wave calculations. Here are the details of the Wave Smoothing and Mixing settings:
Average 1 Type: This parameter allows you to select the type of smoothing average for the first average. You have various options such as WMA, HMA, VWMA, LMA, RMA, SMA, EMA, and more.
Length 1: This setting determines the length or period of the first smoothing average. It represents the number of bars considered in the calculation.
Average 2 Type: This parameter allows you to select the type of smoothing average for the second average.
Length 2: This setting determines the length or period of the second smoothing average.
Mix Factor AVG1-AVG2: This parameter controls the mixing factor between the first and second smoothing averages. It affects the weighting or blending of the two averages.
POW - Factor: This parameter adjusts the power factor, which can compress or expand the resulting values. It allows you to fine-tune the output based on your preferences.
The Wave Smoothing and Mixing settings enable you to smooth the wave calculations and mix different averages to create a more refined and customized output. By selecting the desired smoothing types, adjusting the lengths, and modifying the mix factor and power factor, you can tailor the indicator to your specific trading style.
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Channel Levels and Alert Mode:
The Channel Levels and Alert Mode section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the channel levels and the alert mode. Here are the details of the Channel Levels and Alert Mode settings:
Channel Width: This parameter determines the width or range of the channel levels. It represents the distance between the upper and lower channel lines.
Channel Shift Up/Down: This setting allows you to shift the entire channel up or down. It represents the vertical offset of the channel lines.
Alert Mode (Alertmode): This parameter determines the type of alert triggered by the indicator based on the channel levels.
You have options such as Outside, CrossIn, CrossOut, ChangeDir-All, and ChangeDir-Outside.
Channel Levels: The upper and lower channel levels are calculated based on the channel width and offset. They provide visual boundaries for the price movement within the channel.
The Channel Levels and Alert Mode settings help define the channel levels and specify the conditions for generating alert notifications.
By adjusting the channel width, offset, and selecting the appropriate alert mode, you can customize the indicator's behavior according to your trading requirements.
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Dynamic Channel:
The Dynamic Channel section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the dynamic channel formation.
This feature helps create channels based on different smoothing averages.
Here are the details of the Dynamic Channel settings:
Channel Average 1 Type: This parameter allows you to select the type of smoothing average for the first channel average.
Length 1: This setting determines the length or period of the first channel average.
Channel Average 2 Type: This parameter allows you to select the type of smoothing average for the second channel average.
Length 2: This setting determines the length or period of the second channel average.
MA 1 / MA 2 Mix Factor: This parameter controls the mixing factor between the first and second channel averages. It affects the weighting or blending of the two averages.
Mixing Off Dynamic in Weight: This parameter allows you to mix off the dynamic in weight.
Smoothing Type: This parameter allows you to select the type of smoothing for the trend within the dynamic channel.
Smoothing Length: This setting determines the length or period of the trend smoothing within the dynamic channel.
The Dynamic Channel settings enable you to create channels based on different smoothing averages and adjust the weighting between them. Additionally, you can apply further smoothing to the trend within the dynamic channel. This feature helps identify trends and potential trade opportunities within the channel.
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Speed of Change Rate:
The Speed of Change Rate section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the rate of change in the indicator. Here are the details of the Speed of Change Rate settings:
Plot Speed (plot_speed): This setting determines whether to plot the speed of change on the chart.
Speed Scaling (change_factor): This parameter adjusts the scaling factor for the speed of change.
Speed Smoother (smoothtype_change): This parameter allows you to select the type of smoothing average for the speed of change calculation.
Speed Length (change_length): This setting determines the length or period of the speed of change calculation.
The Speed of Change Rate settings provide insights into the rate at which the indicator values are changing. By visualizing and analyzing the speed of change, you can identify potential acceleration or deceleration in the price movement.
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Signal Main Configuration:
The Signal Main Configuration section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the signal input and passthrough. Here are the details of the Signal Main Configuration settings:
Signal Type (inputtype): This parameter determines the type of signal input. You have options such as MultiBit and NoInput.
Select L1 Indicator Signal (inputModule): This parameter allows you to select the source of the L1 indicator signal. You can choose any valid input source, such as the closing price or another indicator.
Signal Passthrough (Passthrough): This setting enables or disables the passthrough of the signal. When enabled, the indicator passes the input signal to the output.
The Signal Main Configuration settings allow you to define the type of signal input and control whether to pass the signal through the indicator or not. This feature provides flexibility in integrating the indicator with other trading strategies or indicators.
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Multibit Modified Channel:
The Multibit Modified Channel section in the Multitimeframe WaveTrend indicator allows you to configure parameters related to the modified channel based on the multibit input. Here are the details of the Multibit Modified Channel settings:
Input Bull (CH_Trendup_in): This parameter allows you to specify the input channel for bullish signals.
Bull Offset (trendfactorbull): This setting determines the offset for the bullish signals in the modified channel.
Input Bear (CH_Trenddown_in): This parameter allows you to specify the input channel for bearish signals.
Bear Offset (trendfactorbaer): This setting determines the offset for the bearish signals in the modified channel.
The Multibit Modified Channel settings enable you to modify the channel based on the multibit input. By specifying the input channels for bullish and bearish signals and adjusting the respective offsets,
you can customize the channel representation based on your trading strategy.
Multibit Output:
The Multibit Output section in the Multitimeframe WaveBuilder indicator allows you to configure parameters related to the output of the multibit signals and alerts. Here are the details of the Multibit Output settings:
Output Bull (CH_Buy_out): This parameter specifies the output channel for bullish signals.
Output Bear (CH_Sell_out): This parameter specifies the output channel for bearish signals.
Show Alerts (showalerts): This setting determines whether to display alert notifications for the multibit signals.
The Multibit Output settings define the output channels for bullish and bearish signals and control the display of alert notifications. This allows you to visualize and receive alerts for the multibit signals generated by the indicator.
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Here a overview from the settings
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The pipeline of the WaveBuilder can be understood in the following structured manner:
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Wave Calculation:
Wave calculation is performed using the input parameters, resulting in wave values.
The wave values are then averaged using Average 1 and Average 2, and the weighted average is obtained.
The weighted average is mixed with other factors to create a mixed value.
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Channel Formation:
The mixed value is multiplied by a weight to generate a dynamic part.
The dynamic part is combined with the static channel and the multibit modification to form a base value.
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Smoothing and Mixing:
The base value is averaged using Average 1 and Average 2, and the weighted average is calculated.
The mixed2 value is obtained by smoothing the weighted average.
The mixed2 value is further processed using power compression (POW) to refine the output.
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Plotting:
The final smoothed and processed values are plotted to visualize the indicator on the chart.
By following this pipeline, the WaveBuilder combines wave calculations, channel formation, smoothing techniques, and power compression to provide valuable insights into market trends and potential trading opportunities.
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Librarys used:
djmad/Signal_transcoder_library
djmad/MAD_MATH
djmad/Mad_Standardparts
[MAD] CurveBuilderThe CurveBuilder is a versatile indicator that constructs channels using selectable input averages weighted together.
It also incorporates scalable and shiftable offsets on the resulting bands.
This indicator allows users to customize various settings to tailor the channel construction according to their trading strategy.
here a example screenshot of 3 different settings overlayed
Key Features:
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1. Moving Average Timeframe: Select the timeframe for the moving average calculation on the middle line.
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2. Middleline Settings:
Allow you to customize the parameters related to the middle line of the channel.
The middle line is constructed using two moving averages, which can be selected from the various types available.
Here are the details of the Middleline Settings:
1. MA Type: This setting allows you to choose the type of moving average for the first average. You have the following options:
Weighted Moving Average (WMA), Hull Moving Average (HMA), Volume Weighted Moving Average (VWMA), Linear Moving Average (LMA),
Regular Moving Average (RMA), Simple Moving Average (SMA), Exponential Moving Average (EMA), EMA, Ehlers Gaussian,
Ehlers Smoother, Ehlers Supersmoother, Ehlers Butterworth, ChebyshevI, ChebyshevII
Length (1st MA): This parameter allows you to set the length or period of the first moving average. The length determines the number of bars considered in the calculation of the moving average.
2. MA Type: Similar to the first moving average, this setting lets you choose the type of moving average for the second average.
Length (2nd MA): This parameter sets the length or period of the second moving average. The length determines the number of bars considered in the calculation of the moving average.
3. Weighting:
This option allows you to adjust the weighting factor when merging from the first moving average to the second moving average.
By modifying the weighting, you can control the influence of the first average on the second average.
By selecting different moving average types, adjusting their lengths, and modifying the weighting factor, you can fine-tune the behavior of the middle line in the channel.
This flexibility allows you to customize the indicator to align with your preferred trading strategy and market conditions.
Best results are given when there is a maximum hitrate on retraces to the middleline, and many relevant directionchanges are near that line.
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3. Averaging Settings:
Offset of Curve in Bars: Shifts the indicator into the future by specifying the number of bars.
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4. Band Settings:
The Band Settings in the Multitimeframe Channel Builder indicator allow you to configure the parameters related to the construction of the bands around the middle line.
The bands provide an upper and lower boundary that help define the width of the channel. Here are the details of the Band Settings:
Band Mode:
This setting determines the method used to calculate the bands. You have the following options:
Off: Bands are turned off, and no calculations are performed.
True Range: Bands are calculated using the True Range.
Average True Range: Bands are calculated using the Average True Range.
Standard Deviation: Bands are calculated using the Standard Deviation.
Rate of Change: Bands are calculated using the Rate of Change.
Relative Strength Index: Bands are calculated using the Relative Strength Index.
Length (Bands):
This parameter sets the length or period used in the calculation of the bands. The length determines the number of bars considered when calculating the bands.
Band 1-3 Multiplicator:
These parameters allow you to adjust the scaling factor for each band. The multiplicative factor determines the width of the bands relative to the middle line.
Higher values result in wider bands, while lower values result in narrower bands.
Offset in % (Bands):
These parameters enable you to specify the offset percentage for each band. The offset represents the distance between the middle line and the bands.
A positive offset moves the bands further away from the middle line, while a negative offset brings the bands closer to the middle line.
By selecting the desired band mode, adjusting the length parameter, and modifying the multiplicators and offsets,
you can customize the width and positioning of the bands.
This flexibility allows you to adapt the indicator to different market conditions and trading strategies.
Note that if the Band Mode is set to "Off," the bands will not be displayed, regardless of the other band settings.
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5. Band Final Smooth:
The Band Final Smooth settings in the Multitimeframe Channel Builder indicator enable you to apply a smoothing technique to the constructed bands.
By selecting the desired smoothing type and adjusting the length parameter, you can customize the level of smoothing applied to the bands.
This helps to filter out short-term fluctuations and emphasize the underlying trend, providing a clearer visualization of the price channel.
Smooth Bands: This option allows you to enable or disable the smoothing of the bands. When enabled, the indicator applies the selected smoothing technique to the bands.
Smooth Type: You can choose the type of smoothing to apply to the bands. The available options include:
Weighted Moving Average (WMA), Hull Moving Average (HMA), Volume Weighted Moving Average (VWMA), Linear Moving Average (LMA),
Regular Moving Average (RMA), Simple Moving Average (SMA), Exponential Moving Average (EMA), EMA, Ehlers Gaussian,
Ehlers Smoother, Ehlers Supersmoother, Ehlers Butterworth, ChebyshevI, ChebyshevII
Length (Smooth Bands): This parameter sets the length or period of the smoothing technique applied to the bands.
A longer length will result in a smoother representation of the bands, while a shorter length will provide more responsiveness to price changes.
Final Smooth settings are optional, and you can choose to exclude smoothing if it does not align with your trading strategy or preferences.
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6. Alert Settings:
The Alert Settings in the Multitimeframe Channel Builder indicator allow you to configure the parameters related to the generation of alert notifications based on specific conditions.
Alerts can help you stay informed about potential trading opportunities. Here are the details of the Alert Settings:
Alert Mode: This setting determines the type of alert triggered by the indicator. You have the following options:
Band-outside: Generates an alert when the price moves outside the constructed channel bands.
Band-crossin: Generates an alert when the price crosses above or below the channel bands.
Band-crossout: Generates an alert when the price crosses back inside the channel bands.
Trend: Generates an alert when there is a significant trend change (over or under the middleline).
Oscillator: Generates an alert based on the behavior of the oscillator, if in Oscillator mode.
Spikedetection: This option allows you to enable or disable spike detection in the alerts. When enabled, the indicator considers spikes or sudden price movements when generating alerts.
By selecting the appropriate Alert Mode and configuring spike detection, you can receive alert notifications that align with your trading strategy and help you identify potential trading opportunities.
It's important to note that alert settings alone do not place trades automatically.
They serve as notifications for you to review and analyze the situation before making trading decisions.
Make sure to have a proper understanding of the selected alert mode and its implications in your trading strategy.
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7. Operation Mode:
The Multitimeframe Channel Builder indicator offers three operation modes: Channels, Oscillator, and Noplot.
This setting determines how the indicator is displayed on the chart and what type of information it provides.
Channels Mode:
When the indicator is set to channel mode, it will be displayed as an overlay on the chart. It generates channel lines based on the selected moving average types and their lengths.
These channels can help identify support and resistance levels or potential price breakout points. The channel lines are plotted on the chart,
providing a visual representation of the price movements within the channels.
Oscillator Mode: In Oscillator mode, the indicator is presented on a separate plane below or above the main chart, which you need to move manually.
It generates an oscillator based on the configured settings, including the selected moving averages and their lengths.
The oscillator provides insights into the market's momentum and overbought/oversold conditions.
It consists of horizontal lines representing different levels, such as upper and lower boundaries, and a middle line.
Traders can analyze the oscillator's movements and crossovers to identify potential trading signals.
Noplot Mode: Setting the indicator to Noplot mode disables all visual plotting on the chart. However, the indicator still generates alerts based on the configured settings.
This mode is useful if you only want to receive alert notifications for trading opportunities without cluttering the chart with additional visual elements.
Channels mode is ideal for analyzing price movements within defined channels,
Oscillator mode provides insights into market momentum, and
Noplot mode allows for focus on alert notifications without visual distractions on the chart.
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8. Oscillator Settings (Only applicable in Oscillator mode):
Hline from highest to lowest: Set the values for the highest to lowest horizontal lines.
POW-Compression: Adjust the compression factor for the oscillator.
Multiplier: Set the multiplier for the oscillator.
Oscillator Normalization Lockback: Specify the minimum time for normalization in the oscillator.
Detection Length and Filter Length: Set the lengths for the oscillator detection and filter.
Show Acceleration: Enable or disable the display of acceleration.
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9. Label Settings:
Decimals for Labels: Choose the number of decimals for label values.
Show Alerts (L1, L2, L3): Toggle the visibility of alerts for each level. Alert 1 is a minor alert, 3 a major
Label Color: Set the color for the labels.
Display Lines: Show or hide the lines on the chart.
Display Prices: Show or hide the price levels on the chart.
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10. Signal Config:
This Indicator offers a signal transmission configuration section specifically for Multibit implementation.
This feature allows you to transmit signals between multiple instances of the indicator, creating a daisychain effect. Here are the details of the Multibit implementation settings:
Signal Type: This setting determines the type of signal transmission used. You have the following options:
MultiBit: Enables the Multibit signal transmission.
MultiBit_pass: Enables the Multibit signal transmission with infusion.
NoInput: Disables the signal transmission.
Select Incoming Indicator: This parameter allows you to select the incoming indicator for signal transmission. You can choose any valid input source, such as the closing price or another indicator.
Channel configuration:
Channel long signal 1: Specify the channel used to transmit long signals for the first instance in the daisychain. Choose a value from -1 to 15 to represent different channels.
Channel short signal 1: Specify the channel used to transmit short signals for the first instance in the daisychain. Choose a value from -1 to 15 to represent different channels.
Channel long signal 2: Specify the channel used to transmit long signals for the second instance in the daisychain.
Channel short signal 2: Specify the channel used to transmit short signals for the second instance in the daisychain.
Channel long signal 3: Specify the channel used to transmit long signals for the third instance in the daisychain.
Channel short signal 3: Specify the channel used to transmit short signals for the third instance in the daisychain.
Channel Sideways only: Specify the channel used to transmit signals related to sideways movements.
Channel Trend: Specify the channel used to transmit signals related to trend movements.
Here's a overview of the current settings.
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Librarys used:
djmad/Signal_transcoder_library
djmad/MAD_MATH
djmad/Mad_Standardparts
kyle algo v1
Integration of multiple technical indicators: The strategy mainly combines two technical indicators - Keltner Channels and Supertrend, to generate trading signals. It also calculates fifteen exponential moving averages (EMAs) for the high price with different periods ranging from 9 to 51.
Unique combination of indicators: The traditional Supertrend typically uses Average True Range (ATR) to calculate its upper and lower bands. In contrast, this script modifies the approach to use Keltner Channels instead.
Flexible sensitivity adjustment: This strategy provides a "sensitivity" input parameter for users to adjust, which controls the multiplier for the range in the Supertrend calculation. This can make the signals more or less sensitive to price changes, allowing users to tailor the strategy to their own risk tolerance and trading style.
EMA Energy Representation: The code offers a visualization of "EMA Energy", which color-codes the EMA lines based on whether the closing price is above or below the EMA line. This can provide an intuitive understanding of market trends.
Clear visual signals: The strategy generates clear "BUY" and "SELL" signals, represented as labels on the chart. This makes it easy to identify potential entry and exit points in the market.
Customizable: The script provides several user inputs, making it possible to fine-tune the strategy according to different market conditions and individual trading preferences.
EMA (Exponential Moving Average) Principle:
The EMA is a type of moving average that assigns more weight to the most recent data.
It responds more quickly to recent price changes and is used to capture short-term price trends.
Principle of Color Change :
In this trading strategy, the color of the EMA line changes based on whether the closing price is above or below the EMA. If the closing price is above the EMA, the EMA line turns green,
indicating an upward price trend. Conversely, if the closing price is below the EMA, the EMA line turns red,
indicating a downward price trend. These color changes help traders to more intuitively identify price trends
In short, our team provides a lot of practical space
That is your development space
Custom Range Creator + Normalized Oscillators (Obv, Rsi, Mfi) Hello Traders!
Custom Range Creator is a specialized trading tool designed for traders who incorporate range analysis into their trading strategy.
Once you set the desired number of past candles or provide a manual input, the indicator will automatically draw a range for you. This unique feature allows you to customize the range based on the highest and lowest points within a specified number of bars, known as the "Dynamic Range." Furthermore, you have the flexibility to define up to three additional ranges manually using custom inputs. The lines and labels associated with these ranges can be fully customized in terms of style, color, and width to align with your personal preferences.
Dynamic Range Capabilities:
The indicator automatically generates a range by default, identifying the highest and lowest points within the last 200 bars. However, you have the ability to define the number of bars back by adjusting the setting in the menu. Moreover you can define the range based on either the wicks or the bodies of the candles.
The range includes the following components:
☀ Range High: The highest price point within the selected number of bars in the past
☀ Range Low: The lowest price point within the selected number of bars in the past
☀ Range Mid-Point: The calculated middle value between the Range High and Range Low
☀ First Quartile (Q1): The midpoint between the Range Low and the Range Mid-Point, effectively identifying the 25% level within the range
☀ Third Quartile (Q3): The midpoint between the Range Mid-Point and the Range High, identifying the 75% level within the range
By incorporating these critical levels within a price range, our Dynamic Range provides you with a comprehensive view of how the market evolves, enabling you to make more informed trading decisions.
Manual Ranges Capabilities:
In addition to the Dynamic Range, you can manually define up to three more ranges. By specifying your desired high and low price values as inputs, the system automatically draws the range based on your inputs. Once drawn, you can further adjust the range using the bar offset option, which allows you to shift the entire range backward or forward by a specified number of bars.
Each manually defined range includes the following components:
☀ Range High: Your user-defined highest price point
☀ Range Low: Your user-defined lowest price point
☀ Range Mid-Point: The calculated middle value between the Range High and Range Low
☀ First Quartile (Q1): The midpoint between the Range Low and the Range Mid-Point, identifying the 25% level within the range
☀ Third Quartile (Q3): The midpoint between the Range Mid-Point and the Range High, identifying the 75% level within the range
This allows you to precisely define your desired price range and visually represent it on the chart. The customizable manual ranges provide you with a powerful tool for analyzing price dynamics and identifying potential support and resistance levels.
Both Dynamic Range and Manual Ranges Capabilities:
a) Timeframe-Adaptive: This indicator dynamically adjusts to your selected timeframe. Whether you are a day trader or a long-term investor, this tool adapts to meet your needs.
b) Complete Customization: You have the flexibility to customize every aspect of "Custom Range Indicator". You can modify the color, style, and width of each of the five lines to seamlessly integrate them into your chart setup. Choose from various line styles, including solid, dashed, or dotted, and select colors that suit your visual preferences. Additionally, you can customize the color and text of the labels. Additionally, you can utilize the bar offset option to fine-tune the placement of the range within your analysis.
c) Hide Lines and Labels: You have the option to hide each line or label of the range individually, or hide the entire range with labels or without labels. This customization feature allows you to focus on specific aspects of the chart and declutter the visual representation of the ranges when needed.
Normalized Oscillators
Normalization is a process applied in data handling and statistics, and in the context of trading indicators, it can be incredibly useful. Trading indicators such as Volume, the Relative Strength Index (RSI), the Money Flow Index (MFI), and On Balance Volume (OBV), often vary in their range and scale.
Normalization adjusts these values to fit within a specific range, making different indicators directly comparable and aiding in the interpretation of their relationship and impact on price action. This can offer additional insights for traders, making it easier to identify trends, patterns, and potential trading signals across different indicators.
This indicator offers a selection of three oscillators to normalize and Volume Data:
☀Volume: The amount of a particular asset that is traded within a particular period.
☀Relative Strength Index (RSI): A momentum oscillator that measures the speed and change of price movements. It is typically used to identify overbought or oversold conditions in a market.
☀Money Flow Index (MFI): A momentum indicator that uses price and volume data to identify overbought or oversold signals in an asset.
☀On Balance Volume (OBV): A technical trading momentum indicator that uses volume flow to predict changes in price. It does this by cumulatively adding volume on days when the price increases, and subtracting volume on days when the price decreases.
This script also offers aesthetic customizations for the plot, which can enhance readability and visual appeal:
✔"Plot Color": This input lets users select the color of the plotted line on the chart, allowing for personalization and better visual differentiation when multiple indicators are used.
✔"Plot Width": Users can also adjust the thickness of the plotted line, enhancing visibility based on individual preference or screen resolution.
Why is useful the Normalization?
Normalization plays a crucial role in trading as it helps bring together diverse sets of information to support more informed decision-making. For instance, observing the correlation between the price chart and oscillators like On Balance Volume (OBV) near range levels can provide valuable insights.
Consider this example using a daily (1D) Ethereum (ETH) chart:
We observe that the price is at a Range Quarter, making a higher high while the OBV makes a higher low. This scenario presents a significant degree of confluence. The price is at a critical range level and there is a bearish divergence between the OBV and the price. Such confluence often indicates a potential shift in market dynamics, and as observed, the price trends lower subsequently.
Below is the same scenario represented on a linear chart, providing a clearer visualization:
Normalization enables us to make these comparisons more accurately, ultimately leading to more reliable trading signals and better trading outcomes. By adjusting the scale of various indicators to a standard range, traders can directly compare and correlate them to price action, making it easier to spot trends, divergences, and other key market patterns.
Keep attention!
It is important to note that no trading indicator or strategy is foolproof, and there is always a risk of losses in trading. While this indicator may provide useful information for making conclusions, it should not be used as the sole basis for making trading decisions. Traders should always use proper risk management techniques and consider multiple factors when making trading decisions.
adaptive_mfi
█ Description
Money flow an indexed value-based price and volume for the specified input length (lookback period). In summary, a momentum indicator that attempt to measure the flow of money (identify buying/selling pressure) through the asset within a specified period of time. MFI will oscillate between 0 to 100, oftentimes comprehend the analysis with oversold (20) or overbought (80) level, and a divergence that spotted to signaling a further change in trend/direction. As similar to many other indicators that use length (commonly a fixed value) as an input parameter, can be optimized by applied an adaptive filter (Ehlers), to solve the measuring cycle period. In this indicator, the adaptive measure of dominant cycle as an input parameter for the lookback period/n, will be applied to the money flow index.
█ Money Flow Index
mfi = 100 - (100/(1 + money_flow_ratio))
where:
n = int(dominant_cycle)
money_flow_ratio = n positive raw_money_flow / n negative raw_money_flow
raw_money_flow = typical_price * volume
typical_price = hlc3
█ Feature
The indicator will have a specified default parameter of: hp_period = 48; source = ohlc4
Horizontal line indicates positive/negative money flow
MFI Color Scheme: Solid; Normalized
