The Correlation Coefficient is used to measure the correlation between two sets of data. In the trading world, the Correlation Coefficient is a measure of the correlation between two data sets of financial instruments. The correlation between two financial instruments is the degree in which they are related. Correlation is based on a scale of 1 to -1. The closer...
Introduction: The MA Optimizer Simplified is a powerful tool for traders and analysts who want to compare and optimize various moving averages (MA). This tool is specifically designed to identify the best or worst performers among a variety of moving averages based on their cumulative performance. Features and Benefits: 1. Versatility: - Supports...
The PM&4HR indicator basically shows you a bunch of important price levels on your chart: Premarket Levels: Premarket High Premarket Low Premarket Median (middle point between high and low) 4-Hour Levels: Current 4-hour High Current 4-hour Low Previous 4-hour High Previous 4-hour Low It calculates these levels and draws lines on your chart for each one. on...
Gator Tail Building on Bill William’s Alligator, the Gator Tail provides the trader with a scaled value of deviation between the market price and the rolling average. Meant to be used as a trend reversal indicator, best results when combined with the Awesome Oscillator (AO). Script Theory Basics This script is based off of the Bill Williams Alligator...
The Discovery Index is an original technical indicator which attempts to display directional market pressure and momentum based on accumulated candle-over-candle measurements. Discovery , in this context, is the act of finding (discovering) New Highs and Lows. > What is 'Discovery' Not to be confused with "Price Discovery", the term for setting the spot...
The HTF Candle Consistency indicator tracks the most recent candle sentiment in up to 10 Higher Timeframe (HTF) and colors the user chart candle bodies based on the dominating sentiment. Users can weigh specific timeframes more significantly. Additionally, the script provides an HTF dashboard that displays the current directional readouts for each selected...
Momentum Calculation: Momentum is calculated as the difference between the current close price and the close price momentum_length periods ago: momentum = close - close . Highest and Lowest Momentum: The highest and lowest momentum values over the specified length are calculated. Median Momentum: The median momentum is calculated as the average of the...
Overview This script is a dynamic form of support and resistance. Support and resistance plots areas where price commonly reverses its direction or “pivots”. A resistance line for instance is typically found by locating a price point where multiple high pivots occur. A high pivot is where a price increases for a number of bars then decreases for a number of bars...
Supply and Demand Key Levels These levels encompass key price points derived from various timeframes, providing crucial insights into market dynamics and potential trading opportunities. These levels include daily, prior day, day before yesterday, weekly, prior weekly, monthly, and prior monthly levels. Daily, Prior Day, Day Before Yesterday Levels Offer intraday...
🔵 Introduction 🟣 Session The forex market operates 24 hours a day, 5 days a week, with only Saturdays and Sundays being off; traders often focus on one of the forex trading sessions instead of trying to trade in all markets 24 hours a day. Trading sessions are time intervals during which a specific financial market is active and trades are conducted. The...
Han Algo Indicator Strategy Description Overview: The Han Algo Indicator is designed to identify trend directions and signal potential buy and sell opportunities based on moving average crossovers. It aims to provide clear signals while filtering out noise and minimizing false signals. Indicators Used: Moving Averages: 200 SMA (Simple Moving Average): Used as a...
Price vs VWAP Performance (PvVWAP) This indicator visually displays the deviation between the current price and VWAP (Volume Weighted Average Price), helping you to determine the strength of a trend. How it Works VWAP Calculation: Calculates the Volume Weighted Average Price (VWAP) over a specified period. Standard Deviation Calculation: Calculates the standard...
Description This Pine Script indicator, named "slope-velocity," calculates and visualizes the slope of a moving average (MA) in degrees, allowing users to observe the rate of change of the MA over time. Here's a breakdown of its components and functionality: Inputs: option: A dropdown menu allowing the user to select the type of moving average (SMA, EMA,...
Percentage Grid Indicator Description: The Percentage Grid indicator is designed to assist traders in identifying significant support and resistance levels based on yearly percentage changes. This indicator plots horizontal lines on the chart from the start of the year, allowing you to customize how much percentage each line represents. Currently, you can set...
The Comprehensive Correlation Meter is designed to provide traders and investors with insights into the relationships between multiple financial instruments. This script expands upon an existing idea on TradingView about correlation by introducing the ability to analyze the correlation between three markets, offering deeper insights into market relationships. It...
The Volume-Activated Momentum Oscillator (VAMO) is a powerful technical analysis tool designed to enhance your trading decisions by combining price momentum and volume data. This indicator helps traders identify potential trend reversals and divergence patterns, providing valuable insights into market dynamics. Key Features: Momentum Calculation: The...
The Bearish vs Bullish Arguments Indicator is a tool designed to help traders visually assess and compare the number of bullish and bearish arguments based on their custom inputs. This script enables users to input up to five bullish and five bearish arguments, dynamically displaying the bias on a clean and customizable table on the chart. This provides traders...
Indicator Description: BB+SMA Overview: Bollinger Bands (BB): Computes and plots three bands based on a selected moving average type (SMA, EMA, SMMA (RMA), WMA, VWMA) and standard deviation multiplier. The bands indicate potential support and resistance levels relative to price volatility. Squeeze Condition: Detects periods of low volatility (squeeze) when the...