Multi-Timeframe High Low (@JP7FX)Multi-Timeframe High Low Levels (@JP7FX)
This Price Action indicator displays high and low levels from a selected timeframe on your current chart.
These levels COULD represent areas of potential liquidity, providing key price points where traders can target entries, reversals, or continuation trades.
Key Features:
Display high and low levels from a selected timeframe.
Customize line width, colors for high and low levels, and label text color.
Enable or disable the display of high levels, low levels, and labels.
Receive alerts when the price takes out high or low levels.
How to use:
It is important to note that using this indicator on it's own is not advisable. Instead, it should be combined with other tools and analysis for a more comprehensive trading strategy.
Possibly look to use my MTF Supply and Demand Indicator to look for zones to trade from at these levels?
If the price breaks above a high level, you might consider entering a long position, with the expectation that the price will continue to rise. Conversely, if the price breaks below a low level, you may think about entering a short position, anticipating further downward movement.
On the other hand, you can also use high or low levels to look for reversal trades, as these areas can represent attractive liquidity zones.
By identifying these key price points, you could take advantage of potential market reversals and capitalise on new trading opportunities.
Always remember to use this indicator in conjunction with other technical analysis tools for the best results.
Additionally, you can enable alerts to notify you when the price takes out high or low levels, helping you stay informed about significant price movements.
This indicator could be a valuable tool for traders looking to identify key price points for potential trading opportunities.
As always with the markets, Trade Safe :)
피봇 포인트와 레벨
Opening Range with FibsThe indicator uses a time range and another instrument for time reference, so that it works in the time zone you care about. I have set the default to SPX500USD since it is in EST ( SPX , ES and many futures are on Chicago time and opening range gets confused). You can change the reference instrument in the settings.
You can also change the multipliers and use other values instead of 1.272 and 1.618 for Fib extensions.
TradingView has a limit as to how many objects an indicator can create so if you want to go back further for visual backtesting - use the replay tool - it will be able to draw up to the time you selected within its limits.
Let me know if you need anything else...
Happy Trading!
RS Stage AnalysisThis script trying to detect different lifecycle of stock / Stages.
There is mainly 4 stages of stocks.
1) stage 1 - Accumulation = color = aqua
2) stage 2 - Advancing = color = green
3) stage 3 - Distribution = color = yellow
4) stage 4 - Declining = color = red
At some point the condition i wrote wont detect any stage.
9:15 AM middle price #rangeofstinoThis indicator will show the middle price of the first one-minute candle of BankNifty at 9:15 AM for every day.
Range Analysis - By LeviathanThe Interactive Range Analysis script is an essential tool for analyzing price ranges. It automatically draws important range levels, generates a Volume Profile or Open Interest profile and horizontal/vertical heatmaps, plots the anchored VWAP, draws Fibonacci levels, and much more.
How to use the indicator:
1. The script will prompt you to select the "Start Time" and "End Time" using Tradingview's interactive interface. These two points will determine the length of the range.
2. Once you have selected the range, the script will automatically anchor the range highs and lows to the highest and lowest close/wick/hlc3/ohlc4 (whichever you prefer).
3. You can then begin exploring different tools and options such as Quarters, Eighths, Fibonacci, Outer Levels, VWAP, Horizontal Volume/OI Heatmap, Vertical Volume/OI Heatmap, Fixed Range Volume Profile, Open Interest Profile, Value Area, VAH, VAL, and POC.
4. You can adjust the range by dragging the Start Time and End Time anchors or by removing/reapplying the script.
Tool overview
Range Levels
After selecting your preferred time range, the script will identify and draw a range high level and a range low level, which serve as a base for other important levels. “Half” is the level halfway between the range high and range low. “Quarters” will, as the name suggests, split the range into four equal zones (quarters) and “Eighths” will split the range into eight equal zones (eighths).
”Fibonacci” option allows you to display Fibonacci retracement levels (0.786, 0.618, 0.382, 0.236). “VWAP” will plot a Volume Weighted Average Price, anchored to the start of the range. “Direction” input lets you choose whether your range is UP or DOWN trending in order to make sure that the Fibonacci levels and labels are generated and assigned correctly. With “Outer” turned ON, the script will also generate active levels (quarters/eighths/Fibonacci) above and below the selected price range. “Extend Right” will extend all levels to the right indefinitely, while “Extend (+Bars)” lets you choose how far right the levels get extended. “Diagonal Line” is drawn from the bottom left of the range to the top right of the range or from the top left of the range to the bottom right of the range, depending on the “Direction” input.
Volume Profile / Open Interest Profile
After selecting the “Data Type”, Volume Profile or OI Profile can be generated by turning ON the “Volume/OI Profile” option.
“Resolution” input defines the amount of nodes/rows in the range that are used in profile/heatmap generation for distributing the data. While you can increase the “Resolution” to get better, more granular profiles, you should keep in mind that you might need to lower the resolution when generating profiles for larger ranges.
”Node Type” offers you two options when it comes to the representation of data: Up/Down - divides a node in two sections for up volume/OI and down volume/OI, Total - one node for total volume/OI and Delta - net difference in up volume/OI and down volume/OI.
”Profile Position” lets you choose whether the profile is positioned on the left side of the range or on the right side of the range.
“Profile Direction” determines whether the profile nodes are facing right or left.
“Profile Type” enables you to visualize the nodes in a classic way (Type 1) or in a way where down volume/negative OI are positioned on the left side of the y axis and up volume/positive OI on the right side of the y axis.
“Node Size (%)” defines how much space in the range can be taken by the profile’s nodes. Eg. 50% will allow the largest node to extend to the middle of the range (and others scaled accordingly), 100% will allow the largest node to extend the max right point of the range (and others scaled accordingly).
”Value Area (%)” defines the VA zone, which represents the area where the most volume occured (usually 70% or 68%).
”Horizontal Heatmap” will display a heatmap-like overlay, that will help you identify the price levels where most volume/open interest action occurred.
”Vertical Heatmap” will display a heatmap-like overlay, that will help you identify the points in time where most volume/open interest action occurred.
A more detailed description of this indicator is coming in the next few days.
Important:
* If volume or OI profile does not get generated, try lowering the resolution.
* Once in a while, the script will disappear from your chart. Just remove and reapply.
* Open Interest data is only avaiable on Binance Perpetual Futures pairs
To learn more, read the tooltips in the indicator’s settings and stay tuned for upcoming additions (Range Market Structure, Liquidation Levels, Range Statistics,…)
Previous Levels With Custom TimeZoneThe Previous Levels With Custom TimeZone indicator shows to users specifics price area which can be liquidity to take.
Users can determine the desired time zone to retrieve the correct daily, weekly and monthly values.
Several price area are shown with with indicator which are :
Daily Open Price
Daily Low Price
Daily High Price
Previous Daily Low Price
Previous Daily High Price
Previous Weekly Low Price
Previous Weekly High Price
Previous Monthly Low Price
Previous Monthly High Price
All price area are configurable to let user have specific color or line style for each area.
Here's some example :
Daily Open / High / Low
Previous Daily High / Low
Previous Weekly High / Low
Previous Monthly High / Low
4C Options Expected Move (Weekly + 0DTE)This indicator plots the calculated Expected Move for BOTH Weekly and Zero Dated Expiration (0DTE) Daily options, for a quick visual reference.
Please Note: This indicator is different from our original "4C Expected Move (Weekly Options)" indicator, as it now packages the ability to ALSO plot 0DTE options expected moves along with Weekly expected moves. Many other newer features have also been implemented.
Background Information
The Expected Move (EM) is the amount that a stock is predicted to increase or decrease from its current price, based on the current level of options pricing and implied volatility.
This range can be viewed as possible support and resistance, or, once price gets outside of the range, institutional hedging actions can accelerate the move in that direction.
It can be useful to know what the weekly EM range is for a stock to understand the probabilities of the overall distance, direction and volatility for the week.
About the Indicator
This indicator plots the calculated Expected Move for BOTH Weekly and Zero Dated Expiration (0DTE) options, for a quick visual reference.
For the weekly EM, the range is based on the Weekly close of the prior week.
For the Daily EM based on 0DTE options, the range is based on the Daily close of the prior day.
The indicator will automatically start a new weekly EM plot at the beginning of the week, and a new daily EM at the beginning of each day.
The EM values must be updated weekly and/or daily.
Features
Plots the EM for the week
Plots the EM for the day, for symbols that offer daily expiration options
Plots the 2 Standard Deviation EM for both the weekly and daily EM
Labels with calculated values are plotted near the levels for quick visual aid
Settings
Can toggle weekly EM on/off
Can toggle Daily EM on/off
Can toggle 2 Standard Deviation lines on/off
Can toggle labels for all EM on/off
Robust line settings
Can adjust label location left/right based on personal preference
Can enter symbol into settings as a reference
Handy instructions in the settings
How To Set Up The Indicator
To use this indicator you must have access to a broker with options data (not available on Tradingview).
Usually, you can look at the stock's option chain to find the weekly expected move.
You will have to do your own research to find where this information is displayed depending on your broker. You may also need to find the information elsewhere if your broker does not have this information.
You can also do your calculation of the EM using the following formula (please do your own research):
Expected Move = Option Price x Implied Volatility x Square Root of Time
See screenshot example below
This is the Thinkorswim platform's option chain, and the Implied Volatility % and the calculated EM are on the right side of the option chain.
The Expected Move is circled in blue. Use the +- number in parentheses, NOT the % value.
For the weekly EM, input the number that corresponds to the weekly option into the indicator. This must be done on a weekly basis, and It is typically best to use the EM for the next week expiration that is generated AFTER the Friday close and/or before the Monday open of the upcoming week.
For the daily EM, input the number that corresponds to the daily 0DTE option into the indicator. This must be done on a daily basis, and it is typically best to use the EM value for the 0DTE option that is generated the night before (after market close), or before the market opens for that 0DTE. .
Consecutive Unswept Lower Highs/ Higher Lows CounterCounts consecutive Lower Highs and Higher Lows; number resets to zero when previous pivot high or low gets swept
-To help give an idea of when a retracement / run-on-stops may be overdue. i.e. the higher the counter number grows, the longer we've gone without a proper retracement.
//inputs//
~pivot lookback/lookforward: increase this for more significant pivot highs and lows.
~number of pivot high 'counter' labels (pairs) to show in history.
~formatting options.
Daily Opening GAPPlots the daily opening gap as a box. As price moves into the box the size of the box is reduced until the gap is closed and the box no longer extends forward.
There are options to include middle lines for the center of the gap, as well as quartile lines.
While there are plenty of opening gap scripts out there none that I found tracked the closing of the gap over time.
[JL] Supertrend Zone Pivot Point with zigzag fibThis is an open-source Pine script that generates a Supertrend Zone Pivot Point with Zigzag Fib indicator for TradingView. The indicator displays the Supertrend Zone, pivot points, and Fibonacci levels on the chart.
One of the unique features of this indicator is that it uses a Zigzag that does not repaint, ensuring accurate high and low points for the pivot points.
Another feature is that when the Supertrend is in an uptrend, only the highest points are taken as pivot points, and when it's in a downtrend, only the lowest points are taken as pivot points.
The Fibonacci levels are calculated based on the previous high and low pivot points, with labels displaying the corresponding levels on the chart.
The indicator also includes options to show/hide the Zigzag and Fibonacci levels.
Overall, this indicator is useful for identifying key pivot points and Fibonacci levels in the Supertrend Zone, providing valuable information for traders to make informed decisions.
BB Mod + ForecastThis is a combination of two previous indicators; ALMA stdev band with fibs and Vector MACD.
Bollinger Band Mod fits the standard deviation on both sides of the center moving average ( ALMA +/- stdev / 2 ) and calculates Fibonacci ratios from stdev on both sides.
It is more averaging and more responsive at the same time compared to Bollinger Band.
Forecast is calculated from difference between origin ma ( ALMA from hl2 ) and six different period Hull moving averages averaged together and added to the center ma on both sides.
Fibonacci levels for 0.618 1.618 and 2.618 are added.
The dashed lines point towards the trend. Gives you a better idea of the current trend and momentum in the band.
Weekly Opening GAPThis indicator will plot the weekly opening gap on the chart. The gap will be carried forward until it is closed or the max line count is reached. Additionally the 1/4 levels inside the gap are plotted on the chart as weekly gaps can be large.
The weekly opening gap levels can act as targets and rejection points.
Optionally the script can also carry forward the top and bottom lines of the weekly opening gap for up to the 10 prior gaps. These lines are not removed when the gap is closed.
Drip's 11am rule breakout/breakdown (OG)This indicator is based on Drippy2hard's 11:30 am (EST) rule.
In simple terms the rule states that:
If a trending stock makes a new high after 11:15-11:30am EST, there is a 75% chance of closing within 1% of High of day (HOD). Same applies for downtrend.
Please note:
Not all stocks will abide by this, this is backtested on stocks with avg daily volume > 2M and mostly mega cap stocks which have liquid option chains. The backtesting results show very promising results on $SPY/ $SPX so it is advised to trade $SPY/ $SPX using this indicator over any other stocks.
Although the name suggests 11 AM rule, the backtesting shows higher win rate for 11:30 AM so please select that option in the settings.
As always, no indicator is perfect and please follow your risk management and understand that indicators are tools to aid your trading and by no means they are supposed to work as intended in all scenarios
How the script works
1. A HOD/LOD zone is identified based on regular session (9:30am-11:30am) EST. Users can select cut off time to 11AM in the settings. These will be indicated on chart after 11/11:30pm depending on what user selected
2. If the stock breaks above the HOD and the ADX is showing strong momentum to upside then the candlesticks will start showing neon color, if the trend based on moving averages and candle closing is also bullish then the indicator will show trend arrows under the candle indicating to stay in the trade. Same applies for break below LOD, only the colors will change to represent downtrend.
3. An optional cloud is also shown if the trend is developed. The cloud can be used as trail stop or re entry point as long as it is displayed on chart
How to use the indicator in trading
In general, there are three scenarios which are trade worthy
1. If the stocks breaks out above the HOD zone and up trend develops or the stocks breaks below the LOD zone and downtrend develops. See images below
2. You can also use the LOD/HOD zone as demand/ supply if the Price action is range bound like this example below
Thanks for reading, please give thumbs up if you like using it! Please post comments on how to use it.
[JL] Fractals ATR BlockI decided to combine Fractal ROC , ATR Break, and Order Blocks to an Indicator
The Fractal ROC , ATR Break, and Order Blocks indicator combines three concepts to help traders identify potential trade opportunities and manage risk. By using a combination of Fractal ROC , ATR Break, and Order Blocks, traders can gain a deeper understanding of market dynamics and make more informed trading decisions.
Fractal ROC is a momentum-based indicator that calculates the rate of change of the price between fractals, which are turning points in the market. It is calculated by taking the difference between the closing price and the lowest price in the previous n+1 periods, and dividing it by the difference between the open price 2n periods ago and the lowest price in the previous n+1 periods. This calculation is done for both up and down fractals. When the Fractal ROC value is greater than the ROC Break Level (as determined by the input variable roclevel), it indicates a potential momentum shift in the market. This can be used to identify potential trade entries or exits, depending on your trading strategy.
ATR Break is an indicator that helps traders identify significant price movements in the market. It measures the distance between the price and the Average True Range (ATR), which is a measure of the volatility of the market. ATR Break is calculated by taking the difference between the close and high/low, and dividing it by the previous ATR value. This calculation is done for both up and down movements. When the ATR Break value is greater than the ATR Break Level (as determined by the input variable atrlevel), it indicates a significant move in the market. This can be used to identify potential breakouts or breakdowns, and can be used to set stop-loss and take-profit levels.
An Order Block is a price level where significant buying or selling activity has taken place. The order blocks made by ATR Break and Fractal ROC are drawn using boxes on the chart. When the ATR or Fractal ROC level is breached, a box is drawn with the high and low of the candle that breached the level as the top and bottom of the box, respectively. The box is then extended to the right until the end of the chart or until another ATR or Fractal ROC level is breached, at which point a new box is drawn. This allows traders to easily identify significant price movements and potential support and resistance levels on the chart. When an Order Block is identified, it can be used as a potential support or resistance level . If price approaches an Order Block from below, it is likely to bounce off this level and continue in an upward direction. Similarly, if price approaches an Order Block from above, it is likely to bounce off this level and continue in a downward direction. Traders can use these levels to identify potential trade entries or exits, as well as to set stop-loss and take-profit levels.
Overall, the Fractal ROC , ATR Break, and Order Blocks indicator is a powerful tool for traders who want to identify potential trade opportunities and manage risk. By combining these three concepts, traders can gain a deeper understanding of market dynamics and make more informed trading decisions. As with any indicator, it is important to use it in conjunction with other analysis tools and to have a clear trading plan in place.
Simple Market StructureThis indicator is meant for education and experimental purposes only.
Many Market Structure Script out there isn't open-sourced and some could be complicated to understand to modify the code. Hence, I published this code to make life easier for beginner programmer like me to modify the code to fit their custom indicator.
As I am not a expert or pro in coding it might not be as accurate as other reputable author.
Any experts or pros that is willing to contribute this code in the comment section below would be appreciated, I will modify and update the script accordingly as part of my learning journey.
It is useful to a certain extend to detect Market Structure using Swing High/Low in all market condition.
Here are some points that I am looking to improve / fix:
To fix certain horizontal lines that does not paint up to the point where it breaks through.
To add in labels when a market structure is broken.
Allow alerts to be sent when market structure is broken (Probably be done in the last few updates after knowing it is stable and as accurate as possible)
Any suggested improvement, please do let me know in the comment section below and I will try my best to implement it into the script.
Ticker Ratio LevelsIndicator for constructing levels of price ratios from other tickers.
The user can choose from predefined tickers such as Gold(XAU), DXY, BTC, etc.
How it works:
Takes the important extremum of the closing candle from your current chart and builds a level based on the chart selected in the settings.
This function allows you to determine the price level based on the current price and the price at the time of a certain date. To do this, it first determines the time when the last candle before the specified date occurred. Then the price at the time of this candle and at the current moment is calculated. Finally, the price level is calculated relative to the price at the time of the candle. The result of this calculation will be the price level.
How to Use:
By default, the indicator is set to 1D for the BTC chart. But you can adjust any levels on the assets you are interested in.
You can adjust the levels both in the settings and by moving them around the chart.
Simply click on the indicator name or level, and vertical lines will appear, which you can drag to any location. (The vertical lines serve as the beginning of the calculation point)
Example of work on ETH paired with DXY.
Distance from the High/Low priceThis indicator shows how far the price is from the Top and Bottom over a set period of time.
The basic purpose of this indicator is to quickly compare how many symbols have risen over a certain period of time.
For example,
For example, let's say I want to see what the maximum increase is from the December, and how much it's currently down from there.
Then, let's set the "Length" to approximately 1500 and check it from December 18th.
So now you can see that bitcoin is up to about 44%, and it's down 6.9% from its peak.
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For the second example, let's say I want to see what the maximum increase in ALPHA is and how far it is currently from that maximum.
So, as you can see in the chart above, the maximum increase over the period was about 120%, and now it's down by 22.8%.
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In addition, if you check 'Retracement' in the indicator setting, you can see the ratio of the currently located returns based on Top and Bottom.
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이 지표는, 특정 기간동안 여러개의 symbol들이 얼마만큼의 상승을 했는지 빠르게 비교하기 위해 만들었습니다.
위에 첨부한 사진을 기준으로 말씀드리겠습니다.
2022년 12월 말부터 올라온 상승의 최대폭이 얼마인지, 그리고 그 최대 상승으로부터 현재 얼마나 떨어졌는지를 확인하고 싶은 상황이라고 하겠습니다.
그렇다면 'Length'를 대략 1500으로 설정하여 12월 18일부터 확인해보겠습니다.
그러면 비트코인은 최대 약 44%만큼 상승하였고, 현재 최고점으로부터 6.9% 떨어진 상황이라는 것을 확인할 수 있습니다.
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두 번째 예시로, ALPHA의 최대 상승폭이 얼마인지, 그리고 그 최댓값으로부터 현재 얼마만큼 떨어져 있는 상황인지를 확인하고 싶다고 가정해보겠습니다.
그렇다면 위의 차트에서 보이는 바와 같이, 해당 기간동안 최대 상승폭이 약 120%였고, 현재 그 최댓값으로부터 22.8%정도 하락한 상황이라는 것을 확인할 수 있습니다.
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번외로, 지표 설정에서 'Retracement'를 체크하시면, Top과 Bottom을 기준으로 현재 위치한 되돌림의 비율을 확인할 수 있습니다.
30 Second Futures Session Open RangeThis indicator displays 30 second opening ranges from Globex, Europe, and RTH sessions.
From the RTH session range, it also displays infinitely generating Price Targets based on a % of the opening range size.
I am retrieving the 30 second data using the new "request.security_lower_tf()" function.
The importance of these levels is based on the idea that when the market opens, algorithms establish their positions within the first 30 seconds.
These areas can also be seen as potential areas of support and resistance throughout the sessions.
Enjoy!
Volume Based Support & ResistanceThis script uses the Volume of each candle to find support and resistances on the whole visible chart. There is a single easy to use setting that is the Distance between major S/R lines which is 10% for the default and better for Daily timeframe. If you set a lower number, for example 5% then there will be more lines on the chart which is better for lower time frames and higher number like 20% maybe better for weekly timeframes.
It is developed based on using for Bitcoin daily timeframe, but it can be used for any symbol on any timeframe with the proper settings.
The limitation is the number of visible candles which the data and S/R lines are calculated based on them (if the previous data was within the same price range and if not, there is no issue).
Also, this code is a good learning example of using arrays and lines together in the trading view's pine script.
ICT Liquidty H/L [MK]indicator shows liquidity levels at pivot highs and lows on the chart timeframe. Levels are drawn as a horizontal line up to the last active bar. Once a level has been passed through, the level is highlighted. The liquidity level will remain highlighted until a pre determined amount of bars have closed after the level was passed. These liquidity levels can be used as targets for trades, or as potential reversal points. Liquidity (or resting orders) at key pivot points form a key part of the ICT trading system. Users can configure the indicator to display the untapped liquidity levels, or they can be completely hidden until they are passed through.
Tailored-Custom Hamonic Patterns█ OVERVIEW
We have included by default 3 known Patterns. The Bat, the Butterfly and the Gartley. But have you ever wondered how effective other,
not yet known models could be? Don't ask yourself the question anymore, it's time to find out for yourself! You have the option to customize
your own Patterns with the Backtesting tool and set Retracement Ratios and Targets for your own Patterns. In addition to this, in order to determine
the Trend at a glance and make Pattern detection more efficient, we have linked the calculation of Patterns to Bands of several types to choose
from (Bollinger, Keltner, Donchian) that you can select from a drop-down menu in the settings and play with the Multiplier
and the Adaptive Length of the Patterns to see how it affects the success rate in the Backtesting table.
█ HOW DOES IT WORK?
- Harmonic Patterns
-Pattern Names, Colors, Style etc… Everything is customizable.
-Dynamic Adaptative Length with Min/Max Length.
- XAB/ABC Ratio
-Min/Max XAB/ABC Configurable Ratio for each Pattern to create your own Patterns.
(This is really the particular option of this Indicator, because it allows you to be able to Backtest in real time
after having played at configuring your own Ratios)
- Bands
-Contrary to the original logic of the HeWhoMustNotBeNamed script, here when the price breaks out of the upper Bands
(example, Bollinger band, Keltner Channel or Donchian Channel) , with a predetermined Minimum and Maximum Length and Multiplier, we can consider
the Trend to be Bearish (and not Bullish) and similarly when the price breaks down in the lower band, we can consider the Trend
to be Bullish (not Bearish) . We have also added the middle line of the Channels (which can be useful for 'Scalper' type Traders.
-The Length of the Bands Filter is directly related to the Dynamic Length of the Patterns.
-You can use a drop-down menu to select from the following Bands Filters :
SMA, EMA, HMA, RMA, WMA, VWMA, HIGH/LOW, LINREG, MEDIAN.
-Sticky and Adaptive Bands options has been included.
- Projections
-BD/CD Projection Ratio configurable for each Pattern.
(Projections are visible as Dotted Lines which we can choose to Extend or not)
- Targets
-Target, PRZ and Stop Levels are set to optimal values based on individual Patterns. (The PRZ Level corresponds to point D
of the detected Pattern so its value should always be 0) but you can change the Targets value (defined in %) as you wish.
Again here, you have the option to fully configure the Style and Extend the Lines or not.
- Backtesting Table
-As said previously, with the possibility of testing the Success Rate of each of the 3 Customizable Patterns,
this option is part of the logic of this Indicator.
- Alerts
-We originally believe that this Indicator does not even need Alerts. But we still decided to include at least one Alert
that you can set for when a new Pattern is detected.
█ NOTES
Thanks to HeWhoMustNotBeNamed for his permission to reuse some part of his zigzag scripts.
Remember to only make a decision once you are sure of your analysis. Good trading sessions to everyone and don't forget,
risk management remains the most important!
Combined Strategy Trading Bot (RSI ADX 20SMA)Trading Bot V1, This code implements a combined trading strategy that uses several indicators and strategies to make buy and sell decisions in the market. The code is written in Pine Script™, which is a programming language used in the TradingView platform. By BraelonWhitfield.Eth
The strategy uses the Average Directional Movement Index (ADX) and the Pine SuperTrend indicator to identify trends and price movements in the market. The SuperTrend indicator is a popular technical analysis tool that helps to identify the direction of the current trend and provides entry and exit points for trades.
The strategy also uses the Relative Strength Index (RSI) to identify overbought and oversold conditions in the market. The RSI is a momentum indicator that measures the speed and change of price movements in the market.
The first part of the code defines the inputs for the ADX and DI Length, which are used to calculate the ADX and DI values. The dirmov() function is used to calculate the positive and negative directional indicators (plusDM and minusDM) based on the high and low prices. The truerange variable is then calculated using the True Range (TR) formula. Finally, the plus and minus variables are calculated using the smoothed moving average of the plusDM and minusDM values.
The adx() function is then used to calculate the ADX values based on the plus and minus variables. The Pine SuperTrend indicator is defined using the pine_supertrend() function. This function uses the high-low average (hl2) and the Average True Range (ATR) to calculate the upper and lower bands for the indicator. The direction of the current trend is then determined based on whether the current price is above or below the upper or lower bands.
The RSI values are then calculated using the ta.rsi() function, with the inputs for the close price and the RSI period. The overbought and oversold conditions are defined using the OB and OS inputs, which specify the threshold values for the RSI. The upTrend and downTrend variables are defined based on the direction of the Pine SuperTrend indicator.
The next part of the code defines the 20-period Simple Moving Average (SMA) using the ta.sma() function. The os and ob variables are then calculated based on the RSI values and the OB and OS inputs. The strategy.entry() function is used to define the buy and sell orders based on the upTrend and downTrend variables, as well as the Pine SuperTrend indicator, the 20-period SMA, and the os variable.
The final part of the code defines the Channel Breakout Strategy using the ta.highest() and ta.lowest() functions to calculate the upper and lower bounds of the channel. The strategy.entry() function is then used to define the buy and sell orders based on whether the current price is above or below the upper or lower bounds.
In summary, this code implements a combined trading strategy that uses several indicators and strategies to make buy and sell decisions in the market. The strategy is designed to identify trends and price movements in the market, as well as overbought and oversold conditions, to provide entry and exit points for trades. The strategy uses the Pine SuperTrend indicator, the ADX and DI indicators, the RSI, and the 20-period SMA, as well as the Channel Breakout Strategy to make informed trading decisions.
VWAP Supply and Demand ZonesThis is my 1st indicator enjoy.
Description of the VWAP Supply and Demand Zones indicator:
This indicator uses the Volume Weighted Average Price (VWAP) to identify potential supply and demand zones in the market. The VWAP is a popular indicator that shows the average price of a security weighted by volume over a specified period of time. It can be used as a benchmark to measure the efficiency of trading and to identify trends and price levels.
The indicator plots the VWAP as a blue line on the chart, and also plots two other lines above and below it, which represent the upper and lower bounds of the supply and demand zones. The width of these zones can be adjusted by changing the “Zone Width” input parameter.
The indicator also plots shapes on the chart to mark when a supply or demand zone is formed. A supply zone is formed when the price crosses above the VWAP and then falls back below it, indicating that there is more selling pressure than buying pressure at that level. A red triangle is plotted above the bar where this happens, and a red zone is drawn between the previous close and previous VWAP values.
A demand zone is formed when the price crosses below the VWAP and then rises back above it, indicating that there is more buying pressure than selling pressure at that level. A green triangle is plotted below the bar where this happens, and a green zone is drawn between the previous close and previous VWAP values.
The supply and demand zones can be used as potential areas of support and resistance, where traders can look for reversal or continuation signals. For example, if the price enters a supply zone from below, it may indicate that sellers are willing to sell at higher prices, which could lead to a bearish reversal. Conversely, if the price enters a demand zone from above, it may indicate that buyers are willing to buy at lower prices, which could lead to a bullish reversal.
The indicator can be applied to any timeframe or market, but it may work better on higher timeframes where volume data is more reliable. It can also be combined with other indicators or tools to confirm or filter signals.
