Snipe 1-Minute IntradayPurpose
This script demonstrates a simple intraday approach using RSI, EMAs, VWAP, and an optional volume filter. It plots visual buy (bullish) and sell (bearish) signals on the chart under certain conditions. You can use it as a starting point to explore or develop your own intraday strategies.
Key Features
1. VWAP (Volume Weighted Average Price)
Plots the built-in VWAP for additional context on intraday price action.
2. EMA Crossover
Uses two EMAs (fast and slow). A bullish signal triggers when the fast EMA is above the slow EMA, and a bearish signal triggers when the fast EMA is below the slow EMA.
3. RSI Momentum Filter
An RSI reading above 50 indicates bullish momentum; below 50 indicates bearish momentum.
4. Volume Filter (Optional)
Compares the current bar’s volume against the average volume (over a user-defined period). When enabled, signals only appear if the current volume exceeds the average.
5. Time Window (Optional)
Allows you to define a specific time window (e.g., the first hour of trading) for valid signals. You can enable or disable this filter and set your preferred time zone.
How the Signals Are Generated
• Bullish Signal
o Occurs when:
1. Price is above VWAP.
2. Fast EMA is above Slow EMA.
3. RSI is above 50.
4. (Optional) Current volume exceeds the average volume if the volume filter is enabled.
5. (Optional) The chart’s timestamp is within the specified session if the time filter is enabled.
A green triangle is plotted below the bar, and an optional background highlight is shown.
• Bearish Signal
Occurs when the conditions are inverted (price below VWAP, fast EMA below slow EMA, RSI below 50, volume filter and time window—if enabled—are satisfied).
A red triangle is plotted above the bar, and an optional background highlight is shown.
How to Use
1. Load on a 1-Minute Chart (Recommended)
This script is intended for intraday timeframes (specifically 1-minute). Feel free to experiment with other timeframes.
2. Adjust Inputs
You can modify the RSI length, EMA lengths, and volume lookback to suit your preferences or trading style.
If you prefer signals outside the default session hours, turn off “Use Time Filter for Signals?” or change the session window and time zone.
3. Enable or Disable Volume Filter
Turn this on if you only want signals during higher-than-average volume bars.
4. Combine with Other Analysis
This script can be used as a visual tool; however, it is not a complete trading system by itself. Consider additional technical or fundamental analysis to validate your trading decisions.
5. Risk Management
Always practice sound risk management. Setting appropriate stop-losses or using position sizing techniques can help manage potential losses.
Important Notes and Disclaimers
• Educational Only: This script is for demonstration and educational purposes and does not guarantee future results.
• No Financial Advice: Nothing here should be construed as financial or investment advice. Always do your own research and consider consulting a qualified financial professional.
• Test Before Using Live: If you plan to incorporate this script into a strategy, backtest it on historical data and consider forward-testing on a demo account.
• License: This code is subject to the Mozilla Public License 2.0.
오실레이터
Regime Classifier Oscillator (AiBitcoinTrend)The Regime Classifier Oscillator (AiBitcoinTrend) is an advanced tool for understanding market structure and detecting dynamic price regimes. By combining filtered price trends, clustering algorithms, and an adaptive oscillator, it provides traders with detailed insights into market phases, including accumulation, distribution, advancement, and decline.
This innovative tool simplifies market regime classification, enabling traders to align their strategies with evolving market conditions effectively.
👽 What is a Regime Classifier, and Why is it Useful?
A Regime Classifier is a concept in financial analysis that identifies distinct market conditions or "regimes" based on price behavior and volatility. These regimes often correspond to specific phases of the market, such as trends, consolidations, or periods of high or low volatility. By classifying these regimes, traders and analysts can better understand the underlying market dynamics, allowing them to adapt their strategies to suit prevailing conditions.
👽 Common Uses in Finance
Risk Management: Identifying high-volatility regimes helps traders adjust position sizes or hedge risks.
Strategy Optimization: Traders tailor their approaches—trend-following strategies in trending regimes, mean-reversion strategies in consolidations.
Forecasting: Understanding the current regime aids in predicting potential transitions, such as a shift from accumulation to an upward breakout.
Portfolio Allocation: Investors allocate assets differently based on market regimes, such as increasing cash positions in high-volatility environments.
👽 Why It’s Important
Markets behave differently under varying conditions. A regime classifier provides a structured way to analyze these changes, offering a systematic approach to decision-making. This improves both accuracy and confidence in navigating diverse market scenarios.
👽 How We Implemented the Regime Classifier in This Indicator
The Regime Classifier Oscillator takes the foundational concept of market regime classification and enhances it with advanced computational techniques, making it highly adaptive.
👾 Median Filtering: We smooth price data using a custom median filter to identify significant trends while eliminating noise. This establishes a baseline for price movement analysis.
👾 Clustering Model: Using clustering techniques, the indicator classifies volatility and price trends into distinct regimes:
Advance: Strong upward trends with low volatility.
Decline: Downward trends marked by high volatility.
Accumulation: Consolidation phases with subdued volatility.
Distribution: Topping or bottoming patterns with elevated volatility.
This classification leverages historical price data to refine cluster boundaries dynamically, ensuring adaptive and accurate detection of market states.
Volatility Classification: Price volatility is analyzed through rolling windows, separating data into high and low volatility clusters using distance-based assignments.
Price Trends: The interaction of price levels with the filtered trendline and volatility clusters determines whether the market is advancing, declining, accumulating, or distributing.
👽 Dynamic Cycle Oscillator (DCO):
Captures cyclic behavior and overlays it with smoothed oscillations, providing real-time feedback on price momentum and potential reversals.
Regime Visualization:
Regimes are displayed with intuitive labels and background colors, offering clear, actionable insights directly on the chart.
👽 Why This Implementation Stands Out
Dynamic and Adaptive: The clustering and refit mechanisms adapt to changing market conditions, ensuring relevance across different asset classes and timeframes.
Comprehensive Insights: By combining price trends, volatility, and cyclic behaviors, the indicator provides a holistic view of the market.
This implementation bridges the gap between theoretical regime classification and practical trading needs, making it a powerful tool for both novice and experienced traders.
👽 Applications
👾 Regime-Based Trading Strategies
Traders can use the regime classifications to adapt their strategies effectively:
Advance & Accumulation: Favorable for entering or holding long positions.
Decline & Distribution: Opportunities for short positions or risk management.
👾 Oscillator Insights for Trend Analysis
Overbought/oversold conditions: Early warning of potential reversals.
Dynamic trends: Highlights the strength of price momentum.
👽 Indicator Settings
👾 Filter and Classification Settings
Filter Window Size: Controls trend detection sensitivity.
ATR Lookback: Adjusts the threshold for regime classification.
Clustering Window & Refit Interval: Fine-tunes regime accuracy.
👾 Oscillator Settings
Dynamic Cycle Oscillator Lookback: Defines the sensitivity of cycle detection.
Smoothing Factor: Balances responsiveness and stability.
Disclaimer: This information is for entertainment purposes only and does not constitute financial advice. Please consult with a qualified financial advisor before making any investment decisions.
Market Cycles
The Market Cycles indicator transforms market price data into a stochastic wave, offering a unique perspective on market cycles. The wave is bounded between positive and negative values, providing clear visual cues for potential bullish and bearish trends. When the wave turns green, it signals a bullish cycle, while red indicates a bearish cycle.
Designed to show clarity and precision, this tool helps identify market momentum and cyclical behavior in an intuitive way. Ideal for fine-tuning entries or analyzing broader trends, this indicator aims to enhance the decision-making process with simplicity and elegance.
DR Oscillator 8 * Measures price deviation: Calculates the percentage difference between the closing price and a simple moving average.
* Defines upper and lower limits: User-defined upper and lower limits determine overbought and oversold conditions.
* Signal line: A simple moving average of the deviation is plotted as a signal line.
* Deviation smoothing (optional): The deviation can be smoothed using a moving average to create a smoother line.
* Additional signal line (optional): An additional signal line can be added for further analysis.
* Visual representation: The oscillator is plotted with different colors to indicate overbought, oversold, or neutral conditions.
* Background coloring: The background color changes based on the oscillator's value to provide visual cues for buy or sell signals.
In summary:
The DR Oscillator helps traders identify potential buying and selling opportunities by measuring the extent to which a security's price has deviated from its moving average. When the oscillator moves above the upper limit, it suggests that the asset may be overbought and due for a price correction. Conversely, when it moves below the lower limit, it may indicate an oversold condition and a potential buying opportunity.
However, it's important to note that the DR Oscillator is just one tool and should be used in conjunction with other technical indicators and fundamental analysis for more accurate trading decisions.
Multi-Feature IndicatorThe Multi-Feature Indicator combines three popular technical analysis tools — RSI, Moving Averages (MA), and MACD — into a single indicator to provide unified buy and sell signals. This script is designed for traders who want to filter out noise and focus on signals confirmed by multiple criteria.
Features:
RSI (Relative Strength Index):
Measures momentum and identifies overbought (70) and oversold (30) conditions.
A signal is triggered when RSI crosses these thresholds.
Moving Averages (MA):
Uses a short-term moving average (default: 9 periods) and a long-term moving average (default: 21 periods).
Buy signals occur when the short-term MA crosses above the long-term MA, indicating an uptrend.
Sell signals occur when the short-term MA crosses below the long-term MA, indicating a downtrend.
MACD (Moving Average Convergence Divergence):
A trend-following momentum indicator that shows the relationship between two moving averages of an asset's price.
Signals are based on the crossover of the MACD line and its signal line.
Unified Buy and Sell Signals:
Buy Signal: Triggered when:
RSI crosses above 30 (leaving oversold territory).
Short-term MA crosses above the long-term MA.
MACD line crosses above the signal line.
Sell Signal: Triggered when:
RSI crosses below 70 (leaving overbought territory).
Short-term MA crosses below the long-term MA.
MACD line crosses below the signal line.
Visualization:
The indicator plots the short-term and long-term moving averages on the price chart.
Green "BUY" labels appear below price bars when all buy conditions are met.
Red "SELL" labels appear above price bars when all sell conditions are met.
Parameters:
RSI Length: Default is 14. This controls the sensitivity of the RSI.
Short MA Length: Default is 9. This determines the short-term trend.
Long MA Length: Default is 21. This determines the long-term trend.
Use Case:
The Multi-Feature Indicator is ideal for traders seeking higher confirmation before entering or exiting trades. By combining momentum (RSI), trend (MA), and momentum shifts (MACD), it reduces false signals and enhances decision-making.
How to Use:
Apply the indicator to your chart in TradingView.
Look for "BUY" or "SELL" signals, which appear when all conditions align.
Use this tool in conjunction with other analysis techniques for best results.
Note:
The default settings are suitable for many assets, but you may need to adjust them for different timeframes or market conditions.
This indicator is meant to assist in trading decisions and should not be used as the sole basis for trading.
Money Flow ExtendedMoney Flow Extended (MF)
Definition
The Money Flow Extended (MF) indicator brings together the functionality of the Money Flow Index indicator (MFI) , a tool created by Gene Quong and Avrum Soudack and used in technical analysis for measuring buying and selling pressure, and The Relative Strength Index (RSI) , a well versed momentum based oscillator created by J.Welles Wilder Jr., which is used to measure the speed (velocity) as well as the change (magnitude) of directional price movements.
History
As the Money Flow Index (MFI) is quite similar to The Relative Strength Index (RSI), essentially the RSI with the added aspect of volume, adding a Moving Average, divergence calculation, oversold and overbought gradients, facilitates the transition from RSI, making the use of MFI pretty similar.
What to look for
Overbought/Oversold
When momentum and price rise fast enough, at a high enough level, eventual the security will be considered overbought. The opposite is also true. When price and momentum fall far enough, they can be considered oversold. Traditional overbought territory starts above 80 and oversold territory starts below 20. These values are subjective however, and a technical analyst can set whichever thresholds they choose.
Divergence
MF Divergence occurs when there is a difference between what the price action is indicating and what MF is indicating. These differences can be interpreted as an impending reversal. Specifically, there are two types of divergences, bearish and bullish.
Bullish MFI Divergence – When price makes a new low but MF makes a higher low.
Bearish MFI Divergence – When price makes a new high but MF makes a lower high.
Failure Swings
Failure swings are another occurrence which can lead to a price reversal. One thing to keep in mind about failure swings is that they are completely independent of price and rely solely on MF. Failure swings consist of four steps and are considered to be either Bullish (buying opportunity) or Bearish (selling opportunity).
Bullish Failure Swing
MF drops below 20 (considered oversold).
MF bounces back above 20.
MF pulls back but remains above 20 (remains above oversold)
MF breaks out above its previous high.
Bearish Failure Swing
MF rises above 80 (considered overbought)
MF drops back below 80
MF rises slightly but remains below 80 (remains below overbought)
MF drops lower than its previous low.
Summary
The Money Flow Extended (MF) can be a very valuable technical analysis tool. Of course, MF should not be used alone as the sole source for a trader’s signals or setups. MF can be combined with additional indicators or chart pattern analysis to increase its effectiveness.
Inputs
Length
The time period to be used in calculating the MF. 14 is the default.
Pivot Loopback
After how many bars you want the divergence to show, on the scale of 1-5. 5 is the default.
Calculate Divergence
Calculating divergences is needed in order for divergence alerts to fire.
Moving Average section
You can learn more about the inputs in the "Moving Average" section in this Help Center article .
Style
MF
Can toggle the visibility of the MF as well as the visibility of a price line showing the actual current value of the MF. Can also select the MF Line's color, line thickness and visual style.
MF-based MA
Can toggle the visibility of the MF-based MA as well as the visibility of a price line showing the actual current MA value. Can also select its color, line thickness and line style.
MF Upper Band
Can toggle the visibility of the Upper Band as well as sets the boundary, on the scale of 1-100, for the Upper Band (80 is the default). The color, line thickness and line style can also be determined.
MF Middle Band
Can toggle the visibility of the Middle Band as well as sets the boundary, on the scale of 1-100, for the Middle Band (50 is the default). The color, line thickness and line style can also be determined.
MF Lower Band
Can toggle the visibility of the Lower Band as well as sets the boundary, on the scale of 1-100, for the Lower Band (20 is the default). The color, line thickness and line style can also be determined.
MF Background Fill
Toggles the visibility of a Background color within the MF's boundaries. Can also change the Color itself as well as the opacity.
Overbought Gradient Fill
Can toggle the visibility of the Overbought Gradient Fill. Can also select its colors combination.
Oversold Gradient Fill
Can toggle the visibility of the Oversold Gradient Fill. Can also select its colors combination.
Precision
Sets the number of decimal places to be left on the indicator's value before rounding up. The higher this number, the more decimal points will be on the indicator's value.
MACD Pseudo Super Smoother [MACDPSS]The MACD Pseudo Super Smoother (MACDPSS) is a variation of the classic Moving Average Convergence Divergence (MACD) indicator. It utilizes the Pseudo Super Smoother (PSS) filter, a Finite Impulse Response (FIR) filter, to smooth both the MACD line and the signal line, providing a potentially refined representation of momentum compared to the traditional MACD which typically uses Exponential Moving Averages (EMAs).
The PSS, inspired by the Super Smoother filter (an Infinite Impulse Response (IIR) filter), aims to reduce noise while minimizing lag. The MACDPSS leverages this FIR implementation to create a unique MACD variant. The core concept of MACD, which involves analyzing the relationship between two moving averages of different lengths to identify momentum shifts, remains intact.
Filter Types and Customization
The MACDPSS offers independent control over the smoothing applied to the MACD line and the signal line through two "Filter Style" inputs:
Oscillator MA Type: This setting determines the filter type used to calculate the fast and slow moving averages that form the basis of the MACD line.
Signal Line MA Type: This setting controls the filter type used to smooth the MACD line, generating the signal line.
Each of these settings allows a choice between two distinct PSS filter types:
Type 1: Provides a smoother output with a more gradual response, characterized by greater attenuation of high-frequency components.
Type 2: Exhibits increased reactivity, allowing for a faster response to shifts in momentum, but with a potential for overshoot.
This dual-filter approach provides flexibility in tailoring the indicator's responsiveness and smoothness to individual preferences and specific market conditions. The user can, for example, choose a smoother Type 1 filter for the MACD line and a more reactive Type 2 filter for the signal line, or vice-versa.
Calculations
The MACDPSS calculates the MACD line by subtracting the slow moving average from the fast moving average, both derived using the PSS filter with the selected "Oscillator MA Type." The signal line is then calculated by applying the PSS filter with the selected "Signal Line MA Type" to the MACD line. The histogram represents the difference between the MACD line and the signal line.
Interpretation
The interpretation of the MACDPSS is similar to the standard MACD. Crossovers between the MACD line and the signal line, the position of the MACD line relative to the zero line, and the slope and direction of the histogram are all used to gauge momentum and potential trend changes.
Disclaimer
The MACDPSS, while inspired by the Super Smoother, utilizes a distinct FIR approximation (the PSS). Therefore, its behavior will not perfectly mirror that of a MACD calculated using IIR filters. The PSS is designed to be a rough approximation. This indicator should be used in conjunction with other technical analysis tools, and users should be aware of the inherent differences between FIR and IIR filter characteristics when interpreting the indicator's signals. Like any moving average based indicator, the MACDPSS is a lagging indicator, although it tries to improve it. The novelty of this indicator comes from applying a unique FIR filter to a classic momentum oscillator in a configurable way.
HV-RV Oscillator by DINVESTORQ(PRABIR DAS)Description:
The HV-RV Oscillator is a powerful tool designed to help traders track and compare two types of volatility measures: Historical Volatility (HV) and Realized Volatility (RV). This indicator is useful for identifying periods of market volatility and can be employed in various trading strategies. It plots both volatility measures on a normalized scale (0 to 100) to allow easy comparison and analysis.
How It Works:
Historical Volatility (HV):
HV is calculated by taking the log returns of the closing prices and finding the standard deviation over a specified period (default is 14 periods).
The value is then annualized assuming 252 trading days in a year.
Realized Volatility (RV):
RV is based on the True Range, which is the maximum of the current high-low range, the difference between the high and the previous close, and the difference between the low and the previous close.
Like HV, the standard deviation of the True Range over a specified period is calculated and annualized.
Normalization:
Both HV and RV values are normalized to a 0-100 scale, making it easy to see their relative magnitude over time.
The highest and lowest values within the period are used to normalize the data, which smooths out short-term volatility spikes.
Smoothing:
The normalized values of both HV and RV are then smoothed using a Simple Moving Average (SMA) to reduce noise and provide a clearer trend.
Crossover Signals:
Buy Signal : When the Normalized HV crosses above the Normalized RV, it indicates that the historical volatility is increasing relative to the realized volatility, which could be interpreted as a buy signal.
Sell Signal : When the Normalized HV crosses below the Normalized RV, it suggests that the historical volatility is decreasing relative to the realized volatility, which could be seen as a sell signal.
Features:
Two Volatility Lines: The blue line represents Normalized HV, and the orange line represents Normalized RV.
Neutral Line: A gray dashed line at the 50 level indicates a neutral state between the two volatility measures.
Buy/Sell Markers: Green upward arrows are shown when the Normalized HV crosses above the Normalized RV, and red downward arrows appear when the Normalized HV crosses below the Normalized RV.
Inputs:
HV Period: The number of periods used to calculate Historical Volatility (default = 14).
RV Period: The number of periods used to calculate Realized Volatility (default = 14).
Smoothing Period: The number of periods used for smoothing the normalized values (default = 3).
How to Use:
This oscillator is designed for traders who want to track the relationship between Historical Volatility and Realized Volatility.
Buy signals occur when HV increases relative to RV, which can indicate increased market movement or potential breakout conditions.
Sell signals occur when RV is greater than HV, signaling reduced volatility or potential trend exhaustion.
Example Use Cases:
Breakout/Trend Strategy: Use the oscillator to identify potential periods of increased volatility (when HV crosses above RV) for breakout trades.
Mean Reversion: Use the oscillator to detect periods of low volatility (when RV crosses above HV) that might signal a return to the mean or consolidation.
This tool can be used on any asset class such as stocks, forex, commodities, or indices to help you make informed decisions based on the comparison of volatility measures.
NOTE: FOR INTRDAY PURPOSE USE 30/7/9 AS SETTING AND FOR DAY TRADE USE 14/7/9
Dual Bayesian For Loop [QuantAlgo]Discover the power of probabilistic investing and trading with Dual Bayesian For Loop by QuantAlgo , a cutting-edge technical indicator that brings statistical rigor to trend analysis. By merging advanced Bayesian statistics with adaptive market scanning, this tool transforms complex probability calculations into clear, actionable signals—perfect for both data-driven traders seeking statistical edge and investors who value probability-based confirmation!
🟢 Core Architecture
At its heart, this indicator employs an adaptive dual-timeframe Bayesian framework with flexible scanning capabilities. It utilizes a configurable loop start parameter that lets you fine-tune how recent price action influences probability calculations. By combining adaptive scanning with short-term and long-term Bayesian probabilities, the indicator creates a sophisticated yet clear framework for trend identification that dynamically adjusts to market conditions.
🟢 Technical Foundation
The indicator builds on three innovative components:
Adaptive Loop Scanner: Dynamically evaluates price relationships with adjustable start points for precise control over historical analysis
Bayesian Probability Engine: Transforms market movements into probability scores through statistical modeling
Dual Timeframe Integration: Merges immediate market reactions with broader probability trends through custom smoothing
🟢 Key Features & Signals
The Adaptive Dual Bayesian For Loop transforms complex calculations into clear visual signals:
Binary probability signal displaying definitive trend direction
Dynamic color-coding system for instant trend recognition
Strategic L/S markers at key probability reversals
Customizable bar coloring based on probability trends
Comprehensive alert system for probability-based shifts
🟢 Practical Usage Tips
Here's how you can get the most out of the Dual Bayesian For Loop :
1/ Setup:
Add the indicator to your TradingView chart by clicking on the star icon to add it to your favorites ⭐️
Start with default source for balanced price representation
Use standard length for probability calculations
Begin with Loop Start at 1 for complete price analysis
Start with default Loop Lookback at 70 for reliable sampling size
2/ Signal Interpretation:
Monitor probability transitions across the 50% threshold (0 line)
Watch for convergence of short and long-term probabilities
Use L/S markers for potential trade signals
Monitor bar colors for additional trend confirmation
Configure alerts for significant trend crossovers and reversals, ensuring you can act on market movements promptly, even when you’re not actively monitoring the charts
🟢 Pro Tips
Fine-tune loop parameters for optimal sensitivity:
→ Lower Loop Start (1-5) for more reactive analysis
→ Higher Loop Start (5-10) to filter out noise
Adjust probability calculation period:
→ Shorter lengths (5-10) for aggressive signals
→ Longer lengths (15-30) for trend confirmation
Strategy Enhancement:
→ Compare signals across multiple timeframes
→ Combine with volume for trade validation
→ Use with support/resistance levels for entry timing
→ Integrate other technical tools for even more comprehensive analysis
Sum Trend OscillatorPublishing my first indicator.
This one accumulates bars over two short period and divide that by the difference between a long term mean value of high-low
Buy/Sell signal is when both line cross at close below or above the center line.
Soul Button Scalping (1 min chart) V 1.0Indicator Description
- P Signal: The foundational buy signal. It should be confirmed by observing RSI divergence on the 1-minute chart.
- Green, Orange, and Blue Signals: Three buy signals generated through the combination of multiple oscillators. These signals should also be cross-referenced with the RSI on the 1-minute chart.
- Big White and Big Yellow Signals: These represent strong buy signals, triggered in extreme oversold conditions.
- BEST BUY Signal: The most reliable and powerful buy signal available in this indicator.
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Red Sell Signal: A straightforward sell signal indicating potential overbought conditions.
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Usage Guidance
This scalping indicator is specifically designed for use on the 1-minute chart, incorporating data from the 5-minute chart for added context. It is most effective when used in conjunction with:
• VWAP (Volume Weighted Average Price), already included in the indicator.
• RSI on the 1-minute chart, which should be opened as a separate indicator.
• Trendlines, structure breakouts, and price action analysis to confirm signals.
Intended for Crypto Scalping:
The indicator is optimized for scalping cryptocurrency markets.
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Future Enhancements:
• Integration of price action and candlestick patterns.
• A refined version tailored for trading futures contracts, specifically ES and MES in the stock market.
UM VIX status table and Roll Yield with EMA
Description :
This oscillator indicator gives you a quick snapshot of VIX, VIX futures prices, and the related VIX roll yield at a glance. When the roll yield is greater than 0, The front-month VX1 future contract is less than the next-month VX2 contract. This is called Contango and is typical for the majority of the time. If the roll yield falls below zero. This is considered backwardation where the front-month VX1 contract is higher than the value of the next-month VX2 contract. Contango is most common. When Backwardation occurs, there is usually high volatility present.
Features :
The red and green fill indicate the current roll yield with the gray line being zero.
An Exponential moving average is overlaid on the roll yield. It is red when trending down and green when trending up. If you right-click the indicator, you can set alerts for roll yield EMA color transitions green to red or red to green.
Suggested uses:
The author suggests a one hour chart using the 55 period EMA with a 60 minute setting in the indicator. This gives you a visual idea of whether the roll yield is rising or falling. The roll yield will often change directions at market turning points. For example if the roll yield EMA changes from red to green, this indicates a rising roll yield and volatility is subsiding. This could be considered bullish. If the roll yield begins falling, this indicates volatility is rising. This may be negative for stocks and indexes.
I look for short volatility positions (SVIX) when the roll yield is rising. I look for long volatility positions (VXX, UVXY, UVIX) when the roll yield begins falling. The indicator can be added to any chart. I suggest using the VX1, SPY, VIX, or other major stock index.
Set the time frame to your trading style. The default is 60 minutes. Note, the timeframe of the indicator does NOT utilize the current chart timeframe, it must be set to the desired timeframe. I manually input text on the chart indicator for understanding periods of Long and Short Volatility.
Settings and Defaults
The EMA is set to 55 by default and the table location is set to the lower right. The default time frame is 60 minutes. These features are all user configurable.
Other considerations
Sometimes the Tradingview data when a VX contract expires and another contract begins, may not transition cleanly and appear as a break on the chart. Tradingview is working on this as stated from my last request. This VX contract from one expiring contract to the next can be fixed on the price chart manually: ( Chart settings, Symbol, check the "Adjust for contract changes" box)
Observations
Pull up a one-hour chart of VX1 or SPY. Add this indicator. roll it back in time to see how the market and volatility reacts when the EMA changes from red to green and green to red. Adjust the EMA to your trading style and time frame. Use this for added confirmation of your long and short volatility trades with the Volatility ETFs SVIX, SVXY, VXX, UVXY, UVIX. or use it for long/short indexes such as SPY.
Buy/Sell Signals (MACD + RSI) 1HThis is a Pine Script indicator for TradingView that plots Buy/Sell signals based on the combination of MACD and RSI indicators on a 1-hour chart.
Description of the Code:
Indicator Setup:
The script is set to overlay the Buy/Sell signals directly on the price chart (using overlay=true).
The indicator is named "Buy/Sell Signals (MACD + RSI) 1H".
MACD Settings:
The MACD (Moving Average Convergence Divergence) uses standard settings of:
Fast Length: 12
Slow Length: 26
Signal Line Smoothing: 9
The MACD line and the Signal line are calculated using the ta.macd() function.
RSI Settings:
The RSI (Relative Strength Index) is calculated with a 14-period setting using the ta.rsi() function.
Buy/Sell Conditions:
Buy Signal:
Triggered when the MACD line crosses above the Signal line (Golden Cross).
RSI value is below 50.
Sell Signal:
Triggered when the MACD line crosses below the Signal line (Dead Cross).
RSI value is above 50.
Signal Visualization:
Buy Signals:
Green "BUY" labels are plotted below the price bars where the Buy conditions are met.
Sell Signals:
Red "SELL" labels are plotted above the price bars where the Sell conditions are met.
Chart Timeframe:
While the code itself doesn't enforce a specific timeframe, the name indicates that this indicator is intended to be used on a 1-hour chart.
To use it effectively, apply the script on a 1-hour chart in TradingView.
How It Works:
This indicator combines MACD and RSI to generate Buy/Sell signals:
The MACD identifies potential trend changes or momentum shifts (via crossovers).
The RSI ensures that Buy/Sell signals align with broader momentum (e.g., Buy when RSI < 50 to avoid overbought conditions).
When the defined conditions for Buy or Sell are met, visual signals (labels) are plotted on the chart.
How to Use:
Copy the code into the Pine Script editor in TradingView.
Save and apply the script to your 1-hour chart.
Look for:
"BUY" signals (green): Indicating potential upward trends or buying opportunities.
"SELL" signals (red): Indicating potential downward trends or selling opportunities.
This script is simple and focuses purely on providing actionable Buy/Sell signals based on two powerful indicators, making it ideal for traders who prefer a clean chart without clutter. Let me know if you need further customization!
Nimu Market on DemandNimu Market On Demand is an innovative tool designed to provide a visual representation of market demand levels on a scale of 1 to 100. This scale is displayed at specific intervals , making it easy for users to understand market demand fluctuations in real time.
To enhance analysis, Nimu Market On Demand also incorporates the Relative Strength Index (RSI) with key thresholds at . RSI is a widely-used technical indicator that measures market strength and momentum, offering insights into overbought (excessive buying) or oversold (excessive selling) conditions.
The combination of the Demand graph and RSI enables users to:
Identify the right time to buy when the RSI falls below 30, signaling an oversold condition.
Determine the optimal time to sell when the RSI rises above 70, indicating an overbought condition.
With an integrated visualization, users can effortlessly observe demand patterns and combine them with RSI signals to make smarter and more strategic trading decisions. This tool is designed to help traders and investors maximize opportunities in a dynamic market environment.
Range Channel by Atilla YurtsevenThis script creates a dynamic channel around a user-selected moving average (MA). It calculates the relative difference between price and the MA, then finds the average of the positive differences and the negative differences separately. Using these averages, it plots upper and lower bands around the MA as well as a histogram-like oscillator to show when price moves above or below the average thresholds.
How It Works
Moving Average Selection
The indicator allows you to choose among multiple MA types (SMA, EMA, WMA, Linear Regression, etc.). Depending on your preference, it calculates the chosen MA for the selected lookback period.
Relative Difference Calculation
It then computes the percentage difference between the source (typically the closing price) and the MA. (diff = (src / ma - 1) * 100)
Positive & Negative Averages
- Positive differences are averaged and represent how far the price typically moves above the MA.
- Negative differences are similarly averaged for when price moves below the MA.
Range Channel & Oscillator
- The channel is plotted around the MA using the average positive and negative differences (Upper Edge and Lower Edge).
- The “Untrended” histogram plots the difference (diff). Green bars occur when price is above the MA on average, and red bars when below. Two additional lines mark the upper and lower average thresholds on this histogram.
How to Use
Identify Overbought/Oversold Zones: The upper edge can serve as a dynamic overbought level, while the lower edge can suggest potential oversold conditions. When the histogram approaches or crosses these levels, it may signal price extremes relative to its average movement.
Trend Confirmation: Compare price action relative to the channel. If price and the histogram consistently remain above the MA and upper threshold, it could indicate a stronger bullish trend. If they remain below, it might signal a prolonged bearish trend.
Entry/Exit Timings:
- Entry: Traders can look for moments when price breaks back inside the channel from an extreme, anticipating a mean reversion.
- Exit: Watching how price interacts with these dynamic edges can help define stop-loss or take-profit points.
Because these thresholds adapt over time based on actual price behavior, they can be more responsive than fixed-percentage bands. However, like all indicators, it’s most effective when used in conjunction with other technical and fundamental tools.
Disclaimer
This script is provided for educational and informational purposes only. It does not guarantee any specific outcome or profit. Use it at your own discretion and risk.
Trade smart, stay safe.
Atilla Yurtseven
Wickiness IndexWickiness Index - Detect Indecision and Trend Exhaustion
The Wickiness Index is a versatile technical indicator designed to measure the proportion of wicks (upper and lower shadows) relative to the total range of price bars over a specified lookback period. It provides insights into market indecision, reversals, and trend exhaustion by analyzing the structural composition of candlesticks. The indicator calculates the lengths of upper and lower wicks along with the body of each candlestick. Each bar's wick length is expressed as a percentage of the total range (High - Low). The ratio is scaled to 0–100, where 100 represents entirely wicks with no body (indicating pure indecision) and 0 represents no wicks with only body (indicating strong directional movement). These values are then averaged over the lookback period (default = 5 bars) to provide a smoothed representation of wickiness, reducing noise and highlighting trends.
A high value, especially above 70, suggests indecision or potential reversals, as candlesticks dominated by wicks often appear near tops or bottoms. Conversely, low values below 30 indicate trend strength and strong momentum, useful for spotting breakouts and trend continuation. Mid-range values between 30 and 70 often indicate consolidation phases or gradual transitions between trends. Traders can adjust the lookback period to match their trading style, with shorter periods offering faster responses and longer periods providing smoother trends.
This indicator is particularly useful for trend reversal detection, breakout confirmation, and volatility filtering. It scales effectively across all timeframes, making it suitable for both intraday traders and long-term investors. When combined with volume analysis or trend-following indicators, the Wickiness Index can further strengthen trade signals. The visual design includes a blue line for the index and horizontal reference lines at 30 and 70, allowing for quick and intuitive interpretation.
The Wickiness Index offers a unique perspective on market sentiment and price action behavior, providing traders with valuable insights into potential turning points, momentum shifts, and market indecision. It is a powerful tool for improving decision-making in volatile markets and identifying areas where price trends may weaken or reverse.
Smooth RSI [MarktQuant]This indicator combines elements of the Relative Strength Index (RSI) and Rate of Change (RoC) to provide a smoother and potentially more insightful view of market momentum and price movement. The Smooth RSI calculates RSI values across four price points (high, open, low, close) to average them, offering a less volatile RSI signal. Additionally, it incorporates a Rate of Change for trend confirmation, enhancing the decision-making process for trade entries and exits.
Features:
Multi-RSI Calculation: RSI is computed for high, open, low, and close prices, then averaged to reduce noise.
Trend Confirmation with RoC: Uses the Rate of Change to validate the RSI signals, coloring bars based on the trend direction.
Visual Signals:
Bar colors change based on combined RSI and RoC signals.
Green for bullish signals (RSI above 50 and positive RoC).
Red for bearish signals (RSI below 50 and negative RoC).
Horizontal lines at 30, 50, and 70 to denote overbought, neutral, and oversold conditions.
Customizable Display:
Option to show/hide RSI plot or RoC plot for cleaner charts.
Candle plot overlay option to visualize current price action alongside the indicator.
Inputs:
RSI Length: Default 28. Adjusts the lookback period for RSI calculation.
RoC Length: Default 28. Sets the period for the Rate of Change calculation.
Plot Settings:
Show RSI - Toggle RSI plot visibility.
Show RoC - Toggle RoC plot visibility.
Usage:
Long signals are indicated when the average RSI is above 50 and the RoC is positive.
Short signals are suggested when the average RSI falls below 50 with a negative RoC.
The color coding helps visually confirm trends at a glance.
Notes:
This indicator is best used in conjunction with other analysis methods to confirm signals.
Adjust the length parameters based on your trading timeframe for optimal results.
Disclaimer:
This indicator does not guarantee trading success; use it as part of a comprehensive trading strategy. Always conduct your own analysis before making trading decisions.
Fast WMAThe Fast WMA is a reactive trend-following tool designed to provide rapid signals on the ETHBTC ratio. It uses advanced smoothing techniques and normalized thresholds to detect trends effectively. Let’s break it down further:
Source Smoothing with Standard Deviations
The source price data is smoothed by calculating its standard deviation, which measures how far prices typically move from the average. This creates upper and lower deviation levels:
The upper deviation represents a high boundary where prices might be overextended.
The lower deviation represents a low boundary where prices might be oversold.
These deviations are combined with the Weighted Moving Average (WMA) to filter out noise and focus on significant price movements.
Weighting the WMA for Further Smoothing
The Weighted Moving Average (WMA) itself is refined by applying adjustable weights:
An upper weight expands the WMA, forming an Upper Band.
A lower weight compresses the WMA, forming a Lower Band.
This dual-weighted approach allows the tool to adapt dynamically to price action, highlighting areas of potential trend reversals or continuations.
Normalized WMA (NWMA) with Adjustable Thresholds
The Normalized WMA (NWMA) adds an extra layer of analysis:
It compares the source price to its smoothed average, expressing the result as a percentage change.
This helps identify whether the market is overbought (positive NWMA) or oversold (negative NWMA).
Two adjustable thresholds—a long threshold (for buy signals) and a short threshold (for sell signals)—allow users to fine-tune the sensitivity of these signals based on their trading style or the market's volatility.
Entry/Exit Conditions
The Fast WMA generates signals based on two conditions:
Buy (Long) Signal:
Occurs when the price stays above the lower deviation level, and the NWMA crosses above the long threshold.
Indicates bullish momentum and suggests an upward trend.
Sell (Short) Signal:
Occurs when the price falls below the upper deviation level, and the NWMA drops below the short threshold.
Indicates bearish momentum and suggests a downward trend.
Important Note
This indicator is not designed to work alone. It’s a powerful tool for identifying trends but should be combined with other analyses, such as volume, higher time-frame trends, or fundamental analysis, for better decision-making.
Plotting Features
The Fast WMA includes intuitive visual cues to enhance usability:
Color-Coded Signals:
Colors change dynamically to indicate trend direction.
Options are available to customize the color scheme (e.g., for specific trading pairs like ETHBTC or SOLBTC).
Threshold Lines:
Dashed horizontal lines mark the long and short thresholds, helping users visualize signal levels.
Bands and Fill Areas:
The Upper Band and Lower Band are plotted around the WMA, with shaded regions indicating the deviation zones.
Signal Arrows:
Triangles appear below or above candles to highlight potential buy (upward arrow) or sell (downward arrow) points.
Bar Coloring:
Candlesticks are colored according to trend direction, making it easier to identify trends at a glance.
The Fast WMA combines mathematical precision with user-friendly visualization, offering traders a versatile tool to analyze trends and make informed decisions. However, like any indicator, it’s most effective when used as part of a broader trading strategy.
OBV Divergence Indicator [TradingFinder] On-Balance Vol Reversal🔵 Introduction
The On-Balance Volume (OBV) indicator, introduced by Joe Granville in 1963, is a powerful technical analysis tool used to measure buying and selling pressure based on trading volume and price.
By aggregating trading volume—adding it on positive days and subtracting it on negative days—OBV creates a cumulative line that reflects market volume pressure, making it valuable for confirming trends, identifying entry and exit points, and forecasting potential price movements.
Divergences between price and OBV often provide significant signals. A bearish divergence occurs when the price forms higher highs while the OBV line forms lower highs. This discrepancy indicates that upward momentum is weakening, increasing the likelihood of a downward trend.
In contrast, a bullish divergence happens when the price makes lower lows, but the OBV line forms higher lows. This suggests increasing buying pressure and the potential for an upward trend reversal.
For instance, if the price is rising but the OBV trendline is falling, it may signal a bearish divergence, warning of a possible price decline. Conversely, if the price is falling while the OBV line is rising, this could signal a bullish divergence, indicating a possible price recovery. These signals are particularly useful for identifying market turning points.
OBV often acts as a leading indicator, moving ahead of price changes. For example, a rising OBV alongside stable or declining prices can signal an impending upward breakout.
Conversely, a declining OBV with rising prices may indicate that the current uptrend is losing strength. Traders using this strategy often consider entering positions at breakout levels while setting stop losses near recent swing highs or lows to manage risk effectively.
This integration highlights how OBV divergences can provide actionable insights for predicting price movements and managing trades efficiently.
Bullish Divergence :
Bearish Divergence :
🔵 How to Use
The OBV indicator, as a cumulative tool, assists analysts in comparing volume and price changes to identify new trends and key levels for entering or exiting trades. Beyond confirming existing trends, it is particularly effective in analyzing positive and negative divergences between price and volume, providing valuable signals for trading decisions.
🟣 Bullish Divergence
A bullish divergence occurs when the price continues its downward or stable trend, but the OBV line starts rising, forming a higher low compared to its previous low. This suggests increasing volume on up days relative to down days and often signals a reversal to the upside.
For instance, if an asset's price stabilizes near a support level but the OBV line shows an upward trend, this divergence could present an opportunity to enter a long position.
🟣 Bearish Divergence
A bearish divergence occurs when the price forms higher highs, but the OBV line declines, creating lower highs compared to previous peaks. This indicates decreasing volume on up days relative to down days and often acts as a warning for a reversal to the downside.
For example, if an asset’s price approaches a resistance level while OBV starts declining, this divergence may signal the beginning of a downtrend and could indicate a good time to exit long trades or enter short positions.
🔵 Setting
Period : The "Period" setting allows you to define the number of bars or intervals for "Periodic" and "EMA" modes. A shorter period captures more short-term movements, while a longer period smooths out the fluctuations and provides a broader view of market trends.
You can enable or disable labels to highlight key levels or divergences and tables to show numerical details like values and divergence types. These options allow for a customized chart display.
🔵 Table
The following table breaks down the main features of the oscillator. It covers four critical categories: Exist, Consecutive, Divergence Quality, and Change Phase Indicator.
Exist : If divergence is detected, a "+" will appear in this row.
Consecutive: Shows the number of consecutive divergences that have formed in a short period.
Divergence Quality : Evaluates the quality of the divergence based on the number of occurrences. One is labeled "Normal," two are "Good," and three or more are considered "Strong."
Change Phase Indicator : If a phase change is detected between two oscillation peaks, this is marked in the table.
🔵 Conclusion
The OBV (On Balance Volume) indicator is a simple yet effective tool in technical analysis that combines volume and price changes to provide a comprehensive view of market buying and selling pressure. By identifying positive and negative divergences, OBV enables analysts to detect early signs of trend reversals and refine their trading strategies.
Divergences in OBV often precede price changes, making it a leading indicator for predicting market movements. Using OBV alongside other technical tools can enhance decision-making accuracy and help traders identify better entry and exit points. However, it is essential to consider the limitations of OBV, such as the potential for signal errors and the impact of sudden news events.
Ultimately, OBV serves as a complementary tool in technical analysis, aiding in trend identification, signal confirmation, and risk management. A thoughtful application of this indicator, in combination with other analytical tools, can create valuable opportunities for profiting in financial markets.
Fund Master Plus (TV Rev1, Dec2024)License: Mozilla Public License 2.0 (Open Source)
Version: Pine Script™ v6
Indicator Name: Fund Master Plus (TV Rev1, Dec2024)
Short Title: Fund Master Plus
About Fund Master Plus
Fund Master Plus indicator is an oscillating technical analysis tool designed to simulate the fund inflow and outflow trend.
Key features:
1. Fund Master Value and Candle
The candle highlights the direction of the Fund Master value.
Green candles represent an upward trend, while red candles indicate a downward trend.
When the candle crossover 0, it is a sign of the start of mid term bull, vice versa.
When the candle is above 0, it is a sign of mid-term bull, vice versa.
2. Fund Master Bar
This bar provides added visual representation of the Fund Master value.
Green bars represent and upward trend, while red bars indicate a downward trend.
3. FM EMA (Exponential Moving Average)
The Fund Master EMA (Exponential Moving Average) helps smooth out FM value fluctuations
and identify the overall trend.
When the candle crossover FM EMA, it is a sign of the start of short term bull, vice vera.
When the candle is above FM EMA, it is a sign of short term bull, vice versa.
4. EMA of FM EMA
This is an EMA of the Fund Master EMA, which can provide additional insights into the
trend's strength.
5. Candle Turn Green or Red
This feature generates alerts to signal potential trend changes.
6. Bottom Deviation & Top Deviation
Line plot and label of these deviation will show on indicator and the price chart to help user
identify potential buying and selling opportunities.
7. Alertcondition for Turn Green or Turn Red
User can set the alert using the Create Alert (the Clock Icon).
8. Table Summary
A table summary is provided to show indicator name, FM value, FM candle status,
Crossover, Crossunder, Turn Green, Turn Red status, Bar Number etc.
A tooltip for Filter Setting and a filter status check.
SOP to use the indicator:
Table (GR1):
Show Table: This option enables or disables the display of the table.
Text Size: This option allows you to set the text size for the table entries.
Width: This option sets the width of the table.
Fund Master Candle Color Setting (GR2):
FM candle will up by default.
This option enables the color setting of Fund Master candle.
Up: This option sets the color of the Fund Master candle for uptrend.
Down: This option sets the color of the Fund Master candle for downtrend.
Fund Master Bar and Color Setting (GR3):
Show Fund Master Bar: This option enables or disables the display of the Fund Master bar.
Up: This option sets the color of the Fund Master bar for uptrend.
Down: This option sets the color of the Fund Master bar for downtrend.
Fund Master EMA plots (GR4):
Show FM EMA: This option enables or disables the display of the Fund Master EMA line.
Look Back Period: This option sets the lookback period for the Fund Master EMA calculation.
EMA Color: This option sets the color of the Fund Master EMA line.
Show EMA of FM EMA: This option enables or disables the display of the EMA of the Fund Master EMA line.
Look Back Period 2: This option sets the lookback period for the EMA of the Fund Master EMA calculation.
Alerts: Fund Master Crossover & Crossunder EMA Line or 0 (GR5):
Show FM Crossover 0: This option enables or disables the display of the alert for FM crossover above the 0 line.
Show FM Crossunder 0: This option enables or disables the display of the alert for FM crossover below the 0 line.
Show FM Crossover EMA: This option enables or disables the display of the alert for FM crossover above the EMA line.
Show FM Crossunder EMA: This option enables or disables the display of the alert for FM crossover below the EMA line.
Bottom and Top Deviation (GR6):
Show Bottom Deviation: This option enables or disables the display of the bottom deviation line.
Show Top Deviation: This option enables or disables the display of the top deviation line.
Turn Green, Turn Red Alert (GR7):
Show Turn Green/Red Alerts: This option enables or disables the display of alerts for when the Fund Master value changes direction.
Current & Turn Green/Red Alerts: This option sets the number of bars to look back for the turn green/red alerts.
Band and User Input Setting (GR8):
100: This option enables or disables the display of the 100 band.
0: This option enables or disables the display of the 0 band.
-100: This option enables or disables the display of the -100 band.
User Input: This option enables or disables the display of a custom band based on user input.
Value: This option sets the value for the custom band.
Disclaimer
Attached chart is for the purpose of illustrating the use of indicator, no recommendation of buy/sell.
In this chart, all features in the setting are turned on (default and non default).
This chart is used to demonstrate the FM trend movement from mid-term bear to mid-term bull,
short-term bear and bull, bottom deviation and top deviation.
Hope this help. Merry Christmas and Happy New Year.
Cumulative Force Oscillator with MACDCumulative Force Oscillator with MACD
The Cumulative Force Oscillator with MACD is an advanced technical indicator designed to provide traders with a unique perspective on market momentum and trend strength. By combining the power of cumulative candle force analysis with MACD crossover signals, this indicator offers a multifaceted approach to market analysis.
Key Features
1. Cumulative Force Calculation**: Measures the net force of price movements over a specified number of candles.
2. MACD Integration**: Incorporates MACD crossover signals for additional trend confirmation.
3. Visual Cues**: Utilizes color-coded oscillator lines and background zones for easy interpretation.
4. **Dynamic Labeling**: Displays real-time force values and percentage changes.
How It Works
Cumulative Force Calculation
The indicator calculates the "force" of each candle by subtracting the open price from the close price. It then sums this force over a user-defined number of candles to create a cumulative force value. This value oscillates above and below zero, indicating bullish or bearish pressure respectively.
MACD Crossover Detection
The indicator uses the standard MACD (12, 26, 9) to detect bullish and bearish crossovers. These crossovers are visually represented by colored background zones, providing an additional layer of trend confirmation.
Visual Representation
- The main oscillator line is plotted in green when above zero (bullish) and red when below zero (bearish).
- Background colors change based on MACD crossovers: light blue for bullish crossovers and light orange for bearish crossovers.
- A dynamic label displays the current cumulative force value and its percentage change from the previous period.
Interpretation
1. Oscillator Line : When the line is above zero, it indicates net bullish pressure; below zero suggests net bearish pressure.
2. Oscillator Momentum : The steepness and direction of the oscillator line indicate the strength and direction of the current market force.
3. MACD Crossovers : Blue background zones suggest potential bullish trends, while orange zones indicate potential bearish trends.
4. Divergences : Look for divergences between the oscillator and price action for potential trend reversal signals.
Customization
Users can customize several aspects of the indicator :
- Number of candles for force calculation
- Label offset and text size
- Color schemes (through code modification)
Conclusion
The Cumulative Force Oscillator with MACD is a versatile tool that combines momentum analysis with trend confirmation signals. By providing a visual representation of cumulative market force alongside MACD crossovers, it offers traders a comprehensive view of market dynamics. This indicator can be particularly useful for identifying potential trend reversals, confirming existing trends, and gauging overall market strength.
Uptrick: Smart BoundariesThis script is an indicator that combines the RSI (Relative Strength Index) and Bollinger Bands to highlight potential points where price momentum and volatility may both be at extreme levels. Below is a detailed explanation of its components, how it calculates signals, and why these two indicators have been merged into one tool. This script is intended solely for educational purposes and for traders who want to explore the combined use of momentum and volatility measures. Please remember that no single indicator guarantees profitable results.
Purpose of This Script
This script is designed to serve as a concise, all-in-one tool for traders seeking to track both momentum and volatility extremes in real time. By overlaying RSI signals with Bollinger Band boundaries, it helps users quickly identify points on a chart where price movement may be highly stretched. The goal is to offer a clearer snapshot of potential overbought or oversold conditions without requiring two separate indicators. Additionally, its optional pyramiding feature enables users to manage how many times they initiate trades when signals repeat in the same direction. Through these combined functions, the script aims to streamline technical analysis by consolidating two popular measures—momentum via RSI and volatility via Bollinger Bands—into a single, manageable interface.
1. Why Combine RSI and Bollinger Bands
• RSI (Relative Strength Index): This is a momentum oscillator that measures the speed and magnitude of recent price changes. It typically ranges between 0 and 100. Traders often watch for RSI crossing into “overbought” or “oversold” levels because it may indicate a potential shift in momentum.
• Bollinger Bands: These bands are plotted around a moving average, using a standard deviation multiplier to create an upper and lower boundary. They help illustrate how volatile the price has been relative to its recent average. When price moves outside these boundaries, some traders see it as a sign the price may be overstretched and could revert closer to the average.
Combining these two can be useful because it blends two different perspectives on market movement. RSI attempts to identify momentum extremes, while Bollinger Bands track volatility extremes. By looking for moments when both conditions agree, the script tries to highlight points where price might be unusually stretched in terms of both momentum and volatility.
2. How Signals Are Generated
• Buy Condition:
- RSI dips below a specified “oversold” level (for example, 30 by default).
- Price closes below the lower Bollinger Band.
When these occur together, the script draws a label indicating a potential bullish opportunity. The underlying reasoning is that momentum (RSI) suggests a stronger-than-usual sell-off, and price is also stretched below the lower Bollinger Band.
• Sell Condition:
- RSI rises above a specified “overbought” level (for example, 70 by default).
- Price closes above the upper Bollinger Band.
When these occur together, a label is plotted for a potential bearish opportunity. The rationale is that momentum (RSI) may be overheated, and the price is trading outside the top of its volatility range.
3. Pyramiding Logic and Trade Count Management
• Pyramiding refers to taking multiple positions in the same direction when signals keep firing. While some traders prefer just one position per signal, others like to scale into a trade if the market keeps pushing in their favor.
• This script uses variables that keep track of how many recent buy or sell signals have fired. If the count reaches a user-defined maximum, no more signals of that type will trigger additional labels. This protects traders from over-committing to one direction if the market conditions remain “extreme” for a prolonged period.
• If you disable the pyramiding feature, the script will only plot one label per side until the condition resets (i.e., until RSI and price conditions are no longer met).
4. Labels and Visual Feedback
• Whenever a buy or sell condition appears, the script plots a label directly on the chart:
- Buy labels under the price bar.
- Sell labels above the price bar.
These labels make it easier to review where both RSI and Bollinger Band conditions align. It can be helpful for visually scanning the chart to see if the signals show any patterns related to market reversals or trend continuations.
• The Bollinger Bands themselves are plotted so traders can see when the price is approaching or exceeding the upper or lower band. Watching the RSI and Bollinger Band plots simultaneously can give traders more context for each signal.
5. Originality and Usefulness
This script provides a distinct approach by merging two well-established concepts—RSI and Bollinger Bands—within a single framework, complemented by optional pyramiding controls. Rather than using each indicator separately, it attempts to uncover moments when momentum signals from RSI align with volatility extremes highlighted by Bollinger Bands. This combined perspective can aid in spotting areas of possible overextension in price. Additionally, the built-in pyramiding mechanism offers a method to manage multiple signals in the same direction, allowing users to adjust how aggressively they scale into trades. By integrating these elements together, the script aims to deliver a tool that caters to diverse trading styles while remaining straightforward to configure and interpret.
6. How to Use the Indicator
• Configure the Inputs:
- RSI Length (the lookback period used for the RSI calculation).
- RSI Overbought and Oversold Levels.
- Bollinger Bands Length and Multiplier (defines the moving average period and the degree of deviation).
- Option to reduce pyramiding.
• Set Alerts (Optional):
- You can create TradingView alerts for when these conditions occur, so you do not have to monitor the chart constantly. Choose the buy or sell alert conditions in your alert settings.
• Integration in a Trading Plan:
- This script alone is not a complete trading system. Consider combining it with other forms of analysis, such as support and resistance, volume profiles, or candlestick patterns. Thorough research, testing on historical data, and risk management are always recommended.
7. No Performance Guarantees
• This script does not promise any specific trading results. It is crucial to remember that no single indicator can accurately predict future market movements all the time. The script simply tries to highlight moments when two well-known indicators both point to an extreme condition.
• Actual trading decisions should factor in a range of market information, including personal risk tolerance and broader market conditions.
8. Purpose and Limitations
• Purpose:
- Provide a combined view of momentum (RSI) and volatility (Bollinger Bands) in a single script.
- Assist in spotting times when price may be at an extreme.
- Offer a configurable system for labeling potential buy or sell points based on these extremes.
• Limitations:
- Overbought and oversold conditions can persist for an extended period in trending markets.
- Bollinger Band breakouts do not always result in immediate reversals. Sometimes price keeps moving in the same direction.
- The script does not include a built-in exit strategy or risk management rules. Traders must handle these themselves.
Additional Disclosures
This script is published open-source and does not rely on any external or private libraries. It does not use lookahead methods or repaint signals; all calculations are performed on the current bar without referencing future data. Furthermore, the script is designed for standard candlestick or bar charts rather than non-standard chart types (e.g., Heikin Ashi, Renko). Traders should keep in mind that while the script can help locate potential momentum and volatility extremes, it does not include an exit strategy or account for factors like slippage or commission. All code comes from built-in Pine Script functions and standard formulas for RSI and Bollinger Bands. Anyone reviewing or modifying this script should exercise caution and incorporate proper risk management when applying it to their own trading.
Calculation Details
The script computes RSI by examining a user-defined number of prior bars (the RSI Length) and determining the average of up-moves relative to the average of down-moves over that period. This ratio is then scaled to a 0–100 range, so lower values typically indicate stronger downward momentum, while higher values suggest stronger upward momentum. In parallel, Bollinger Bands are generated by first calculating a simple moving average (SMA) of the closing price for the user-specified length. The script then measures the standard deviation of closing prices over the same period and multiplies it by the chosen factor (the Bollinger Bands Multiplier) to form the upper and lower boundaries around the SMA. These two measures are checked in tandem: if the RSI dips below a certain oversold threshold and price trades below the lower Bollinger Band, a condition is met that may imply a strong short-term sell-off; similarly, if the RSI surpasses the overbought threshold and price rises above the upper Band, it may indicate an overextended move to the upside. The pyramiding counters track how many of these signals occur in sequence, preventing excessive stacking of labels on the chart if conditions remain extreme for multiple bars.
Conclusion
This indicator aims to provide a more complete view of potential market extremes by overlaying the RSI’s momentum readings on top of Bollinger Band volatility signals. By doing so, it attempts to help traders see when both indicators suggest that the market might be oversold or overbought. The optional reduced pyramiding logic further refines how many signals appear, giving users the choice of a single entry or multiple scaling entries. It does not claim any guaranteed success or predictive power, but rather serves as a tool for those wanting to explore this combined approach. Always be cautious and consider multiple factors before placing any trades.
Price Changes Relative to Previous CloseThis script displays the price values in percentages (open, high, low, and close) of the current bars relative to the previous bar's close. This helps visualize the amplitude of price movements. Depending on the user's choice, the display can be in the form of candles or bars.
Main steps of the script
Retrieves the previous bar's closing price.
Calculates the percentage changes in the open, high, low, and close prices of the current bar relative to the previous bar's close.
Sets the colors for bullish (green) and bearish (red) candles/bars.
Allows the user to choose the display type (candles or bars).
Displays the candles or bars on the chart.
Creates arrays to store the highs and lows of the last 252 bars and filters them based on the current bar's close.
Calculates the average values of the highs and lows for the filtered bars and displays them on the chart.
Изменение цен относительно предыдущего закрытия
Этот скрипт отображает значения цен в процентах (открытие, высокие, низкие и закрытие) текущих баров относительно закрытия предыдущего бара. Это помогает визуализировать амплитуду движений цен. В зависимости от выбора пользователя, отображение может быть в виде свечей или баров.
Основные шаги скрипта
Получает цену закрытия предыдущего бара.
Вычисляет процентные изменения открытой, высокой, низкой и закрытой цен текущего бара относительно закрытия предыдущего бара.
Настраивает цвета для бычьих (зелёных) и медвежьих (красных) свечей/баров.
Позволяет пользователю выбирать тип отображения (свечи или бары).
Отображает свечи или бары на графике.
Создаёт массивы для хранения максимумов и минимумов за последние 252 бара и фильтрует их в зависимости от закрытия текущего бара.
Вычисляет средние значения максимумов и минимумов для отфильтрованных баров и отображает их на графике.
Range PolarityDescription:
This indicator is a "Rate of Change" style oscillator designed to measure market dynamics through the lens of price ranges. By utilizing the true range in conjunction with high and low separation, this script produces two distinct oscillators: one for positive price shifts and one for negative price shifts.
Key Features:
High/Low Isolation:
The script calculates the relative movement of upwards and downwards price movements over a user-defined period. This separation provides a nuanced view of market behavior, offering two separate signals for comparison.
Dynamic Transform Smoothing:
A smoothing transform is applied to the signals, ensuring better outlier handling while maintaining sensitivity to price extremes. This makes the oscillator especially suited for identifying overbought and oversold conditions.
Zero-Centered:
The zero line acts as a "gravity point," where shifts away or toward zero indicate market momentum. Signal crosses or reversals from extreme zones can signal potential entry or exit points.
Outlier Identification:
Unlike traditional ATR based strategies (e.g., Keltner Channels ), this indicator isolates high and low ranges, creating a more granular view of market extremes. These measurements can help identify shifts from the outlying positions and reversal opportunities.
Visual Enhancements:
Multiple layers enhance the visual distinction of the positive and negative transformations. Horizontal lines at key thresholds provide visual reference for overbought, oversold, and equilibrium zones.
How to Use:
Primary signals are shifts from outlying positions or a positive/negative cross. An extreme reading itself can reveal an incoming reversal when calibrated with other indicators or compared with higher timeframes. Pairing "Range Polarity" with volume and momentum can create a comprehensive strategy.
In conclusion, be aware the base length controls the window for high/low contributions while the transform smoothing enhances the raw data through normalization within a tempered range to filter out insignificant fluctuations.
Merry Christmas to all and have a Happy New Year!
