3rd WaveHello All,
In Elliott Wave Theory, 3rd wave is not the shortest one in the waves 1/3/5 and it's usually longest one. so if we can catch it then we may get good opportunities to trade. This script finds 3rd wave experimentally. it can be also the 3rd waves in the waves 1, 3, 5, A and C. the 3rd wave should have greater volume than other waves, the script can check its volume and compare with the volumes of the waves 1 and 2 optionally.
Pine Team released Pine version 5! This script was developed in v5 and it uses Library feature of Pine v5 for the zigzag functions. This script is also an example for the Pine developers who learn Pine v5 and Libraries.
Options:
Zigzag Period: is the length that is used to calculate highest/lowest and the zigzag waves
Min/Max Retracements: is the retracement rates to check the wave 2 according to wave 1. for example; if min/max values are 0.500-0.618 then wave 2 must be minimum 0.500 of wave 1 and maximum 0.618 of wave 1.
Check Volume Support: is an option to compare the volumes of1. 2. and . waves. if you enable this option then the script checks their volume and 3rd wave volume must be greater then 1 and 2
there are 4 options for the targets. you can enable/disable and change their levels. targets are calculated using length of wave 1.
Options to show breakout zone, zigzag, wave 1 and 2.
and some options for the colors.
The Library that is used in this script:
P.S. This is an experimental work and can be improved. So do not hesitate to drop your comments under the script ;)
Enjoy!
Pivotsupport
CreateAndShowZigzagLibrary "CreateAndShowZigzag"
Functions in this library creates/updates zigzag array and shows the zigzag
getZigzag(zigzag, prd, max_array_size) calculates zigzag using period
Parameters:
zigzag : is the float array for the zigzag (should be defined like "var zigzag = array.new_float(0)"). each zigzag points contains 2 element: 1. price level of the zz point 2. bar_index of the zz point
prd : is the length to calculate zigzag waves by highest(prd)/lowest(prd)
max_array_size : is the maximum number of elements in zigzag, keep in mind each zigzag point contains 2 elements, so for example if it's 10 then zigzag has 10/2 => 5 zigzag points
Returns: dir that is the current direction of the zigzag
showZigzag(zigzag, oldzigzag, dir, upcol, dncol) this function shows zigzag
Parameters:
zigzag : is the float array for the zigzag (should be defined like "var zigzag = array.new_float(0)"). each zigzag points contains 2 element: 1. price level of the zz point 2. bar_index of the zz point
oldzigzag : is the float array for the zigzag, you get copy the zigzag array to oldzigzag by "oldzigzag = array.copy(zigzay)" before calling get_zigzag() function
dir : is the direction of the zigzag wave
upcol : is the color of the line if zigzag direction is up
dncol : is the color of the line if zigzag direction is down
Returns: null
ZigZag Chart with SupertrendHello All,
This script creates Zigzag Chart by using Zigzag waves, so it's timeless chart meaning that no time dependency on X-axis. Optionally it can calculate & show Zigzag Supertrend or Simple Moving Average. Also it can change bar colors of the main chart by trend direction of Zigzag Supertrend.
As seen below, each zigzag wave is a candle on Zigzag chart:
You have a few options and using these options you can find best settings for the securities/timeframes.
You can change Zigzag period, if you change Zigzag Period then all zigzag and the chart is recalculated/reconstructed.
You have option to show Zigzag Supertrend or Zigzag Moving Average, the options you have;
- You can change ATR Length and ATR multiplier for supertrend
- You can change Length for Simple Moving Average
You can change Zigzag candle & wick colors using options. Also you have option to change bar colors according to Zigzag Supertrend direction.
As it's timeless chart, below you can see how/when bar colors and Zigzag Supertrend change:
You can see Simple Moving Average of the Zigzag Candles:
You can play with ATR length and multiplier to find best supertrend:
You can play with the candle & wick colors:
Enjoy!
CPR by WsrWe recommend some preconditions for Intraday Trading Strategy with CPR (Central Pivot Range)
Rules For BUY Setup with CPR
1) Today's Pivot Level Should be higher than Previous Day's Pivot Level
2) The previous day's close should be near day's high.
Rules For SELL Setup with CPR
1) Today's Pivot Level Should be lower than Previous Day's Pivot Level
2) The previous day's close should be near day low.
CPR or central pivot range is the best tool available for the trader to see the price base indicator. You can use this tool i.e CPR (central pivot range) to check the price indicator in the stock market. You know the price of shares sometimes goes up or sometimes goes down in the stock market. So it will be best to stay updated and know it before the time the share market/stock market fall or rises.
Volume Profile / Fixed RangeHello All,
This script calculates and shows Volume Profile for the fixed range . Recently we have box.new() feature in Pine Language and it's used in this script as an example. Thanks to Pine Team and Tradingview!..
Sell/Buy volumes are calculated approximately!.
Options:
"Number of Bars" : Number of the bars that volume profile will be calculated/shown
"Row Size" : Number of the Rows
"Value Area Volume % " : the percent for Value Area
and there are other options for coloring and POC line style
Enjoy!
Pivot boxes [LM]Hello traders,
let me intoduce you pivot boxes. New features of pinescript that allows to render boxes enabled to highlight pivot zone. Range high or low is defined by pivot high or low and rangeLow and RangeHigh are defined by close of following candle.
It has two settings that you can change at your will, it also enables hide/show particular pivot setting
Hope you will enjoy as I enjoyed to write it.
Lukas
Rohit_Past_Present_Future_CPR_PivotsThis script is for all market types, one could see historical, present and future pivots and CPR at the same time. Also one could apply daily, weekly and monthly pivot levels all together,. Further, daily/weekly/monthly high and low support could be seen as well.... Good Luck with your trading!!!!
FibFans on Previous HTF HL [FaizanNawaz] by DGTFibonacci Fans application on top of Previous Higher TimeFrame High and Low. Idea owner is @faizannawaz1, special thanks to him for both the idea and tesing the application
WARNING : Study includes plottings in the future, and due to temporal gaps in non 7/24 markets such as weekends, holidays etc plotting of the fans will move to the open session (the effect will be observed on Friday and Monday). With crypto no any side affect will be observed.
More about Fibonacci Fans, how to apply fibonacci fans and automated fibonacci speed and resistance fans study
Adiitonally the study includes some addons, such as
Central Pivot Range and Traditional Pivot Points
Volume Weighted Colored Bars
Price Range Meter - Horizontal HTF Candle
Disclaimer :
Trading success is all about following your trading strategy and the indicators should fit within your trading strategy, and not to be traded upon solely
The script is for informational and educational purposes only. Use of the script does not constitute professional and/or financial advice. You alone have the sole responsibility of evaluating the script output and risks associated with the use of the script. In exchange for using the script, you agree not to hold dgtrd TradingView user liable for any possible claim for damages arising from any decision you make based on use of the script
LTB Zigzag CirclesHello All,
Today I am here with a new idea and script, " LTB Zigzag Circles ". The idea is to create Circles using last 2 zigzag waves and to catch the breakouts earlier than horizontal lines. if a circle is broken then the script shows entry for Long/Short positions. and if broken circle reappears again then the position is closed. You can change Zigzag period as you wish and see the different results.
Here you can see how the script calculates and draws the Circles:
Below you can see how the script draws part of the circle on each bar:
Optionally the script can show levels:
P.S. I haven't tested it as a strategy, Result and Performance may change by Zigzag period, you need to find best Zigzag period according to your strategy. By the way, my Zigzag Circles idea can be improved, if you have any recommendation let me know please ;)
Enjoy!
Pivot Points AlgoThis is a Pivot Points Algo (PPA).
PPA uses an adaptive pivot algorithm that adapts to different market situations based on various factors.
PPA also includes depth filtering to make it more precise at its signal decision.
======= Signal Types ======
Main Signal of BUY and SELL shown by buy/sell labels.
Mini Signals of BUY and SELL shown by buy/sell arrows and shows additional breakouts after the Main Signal occurred.
Optional reversal signals show a possible reversal in trend (small triangle).
======= Alerts =======
Main Signals alerts - Alerts when a main Buy or Sell is triggered (Shown as Labels).
Combo Alerts - Alerts when main or mini signals of Buy and Sell are triggered (Shown as Arrows).
======= Assets and Time frames =======
Can be used on various assets, stocks, forex, crypto and works great for day trading as well as swing trading and long term investing.
PPA is designed to adjust to any time frame!
======= General info =======
The purpose of this indicator is to signal possible breakouts with a high rate of success.
PPA has been extensively tested and fine tuned to provide traders and investors with a valuable tool for timing long and short entries. However, no system is 100% perfect, and it is good practice to have a plan in place and use stop losses or other tools to mitigate unforeseen risk.
Also, note, I don't hide what PPA is doing as opposed to some other commercial indicators on the market. You can view pivot lines and pivot bands and so on.
The magic is the inner system itself which works for you to pinpoint the best entrance possible, I recommend confirming your own methods to make sure you want to take the trade.
To subscribe to Pivot Points Algo service see “Author's instructions” below.
For any question you can PM me.
Happy and profitable trading!
Parallel Pivot Lines [LuxAlgo]Displays lines connecting past pivot high/low points with each line having the slope of a linear regression. This slope can also be controlled by the user with the 'Slope' setting. Each line can be used as a support or resistance by the user.
Settings
Length : Pivot length. Use higher values for having lines connected to more significant pivots points.
Lookback : Number of lines connecting a pivot high/low to display, with a total of lines equal to Lookback*2
Slope : Allows the user to multiply the linear regression slope by a number within -1 and 1
Limitations
The script has currently several real time behavior limitations. Lines are displayed retrospectively and will not update with the arrival of new bars. Readjusting the indicator to newer pivots will require the user to either hide/unhide the indicator or change its settings.
High Length or Lookback values might not return any lines if the location of a pivot point is outside the defined buffer size of the indicator (set as 5000 bars).
How To Use
The indicator can be used to get supports and resistances and is more so closer to a drawing tool due to its limitations. The lines not updating with the arrival of new bars have the advantage of providing fixed supports/resistances.
The Slope setting allows the user to control the angle and direction of the lines. Using a Slope of 1 will return lines with the same slope as the one of a linear regression fit from the farthest pivot point displayed by the indicator to the most recent bar.
The chart above shows the indicators and a linear regression in orange.
If you want to have horizontal lines, use a Slope equal to 0.
Finally using a negative slope value will allow the user to have lines in opposite directions to the main trend.
Conclusion
We hope you like this indicator (drawing tool) and find it useful for drawing your support & resistances in a unique way!
Daily Pivot (Fibonacci)Hello All
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This is Daily Pivot (Fibonacci).
Simple and very useful tool for traders.
Show R5 to S5 levels.
.
Feel free to comment.
Thank you.
Daily Pivot (Traditional)Hello all
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This code is for daily pivot points, support and resistance with pivot labels and value.
simple code with no bugs.
this code use previous day values on online chat and current day values on offline chat.
pivot values are placed on right side, so no overlapping with other values.
.
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Thank you Trading View for other educational script to make this possible.
Auto Support Resistance [Free]This is for free version.
full version will come later with "invite only" soon.
(this free version may have some limited things.)
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This show support line, and resistance line.
moderately! and beautiful way!
also proper trend line.
you cannot see source code, but it doesnt have any secret formula.
It use just pivot function.
( i just wanna keep my design tech. )
it has 3 type line.
1. horizontal. yellow. default pivot size is 15
2. connection of top(peak, blue). pivot size 10
3. connection of bottom(green). pivot size 10
you can change pivot size.
it has one speical option about volume.
if the bottom has too small volume, it cannot be starting point.
if you want every bottom can be starting point, you can turn off the option.
each point has name like H6, G8.
this name help you to talk with someone about the point, sharing the infomation.
that name is base on the time of candle (it mean it is not randome). so in your friend chart(screen), the point has same name.
=========================================
한글 설명.
이 지표는 무료 버전입니다.
기능 제한이 없는 정식 버전은 '인바이트 온리'로 나올 예정입니다.
(지금의 버전은 기능제한이 발생할 수 있습니다.)
아름답게 절제된, 그리고 적절한 추세선들을 자동으로 보여줍니다!!!
소스코드를 볼 수 없지만, 추세선을 결정하는 비밀 수식 같은 것은 없습니다.
오직 pivot피봇 함수만을 사용하여 고점과 저점을 찾고 있습니다.
선은 3가지가 있습니다.
1. 고점을 연결한 선. 파란색. 기본 피봇 10
2. 저점을 연결한 선. 녹색. 피봇 10
3. 고점 또는 저점의 수평선. 노란색. 피봇 15
특별한 기능이 하나 있는데, 볼륨이 낮은 저점은 녹색선의 시작점이 되지 못하게 하는 기능입니다.
이 기능은 옵션에서 끄거나, 정도를 조절할 수 있습니다.
각 고점 저점은 H4, G8 같은 이름을 가지고 있습니다.
이 이름은 여러분이 차트분석을 올리거나 친구와 차트에 대해 대화를 나눌 때 유용하게 쓰일 수 있습니다.
이 이름은 캔들의 시간값을 이용하며 (무작위로 지어진게 아니라는 의미), 그래서 친구의(모두의) 화면에서 같은 이름을 보여줍니다.
점선은 확장선이며, 기본은 30, 최대 55까지 늘릴 수 있습니다.
(너무 늘리면 화면이 복잡해집니다.)
가장 최근의 고점과 저점 수평선은 무한대의 길이를 가집니다.
그 외의 수평선은 적당한 길이로 조절되어 출력됩니다.
간혹 3개의 선으로 나뉘어 보이거나 투명도가 변하곤 하는데 이는 특별한 의미를 보이려는 것이 아닙니다. 트레이딩뷰 파인스크립트의 한계로 인한 현상입니다.
ZigZag Multi Time Frame with Fibonacci RetracementHello Traders,
This is ZigZag Multi Time Frame with Fibonacci Retracement script. It calculates the ZigZag using Higher Time Frame, draw Fibonacci Retracement lines and put labels accordingly. I already published Zigzag with Fibonacci Levels script but this one is Multi Time Frame and I didn't want to change/update it.
You can set ZigZag Period and Resolution as you wish. Zigzag is calculated using higher time frames (ex: 1day) so you better choose small numbers as Zigzag Period, such 2, 3 etc. you should choose higher time frame wisely, meaning that you should not set 1Day while chart resolution is 1min ;)
It draws Fibonacci levels between 0%-100% and If the price goes higher/lower than 100% level than the script draws Fibonacci Levels accordingly. This means it draws Fibonacci levels until this levels get higher/lower than the price.
"Show Zig Zag" is not enabled by default, you can enable it if you want to see ZigZag as well.
You have options to set Text Color, Line Color, Zigzag Up Color and Zigzag Down Color.
You can set the location of the Fibonnaci Levels -> Left or Right
You also have option to enable/disable following Fibonnaci Levels:
---> 0.236
---> 0.382
---> 0.500
---> 0.618
---> 0.786
I added "Colorful Fibonacci Levels" for fun. if you enable it then Fibonacci line colors will be different randomly on each move, see it for yourself :)
Some Screenshots:
if you enable "Show Zigzag Option":
how the script adjust levels automatically:
if you set Label Location as "Right":
if you enable "Colorful Fibonacci Levels" then Line colors will be changed on each move randomly ;)
Enjoy!
Tweezers and Kangaroo TailHello Traders,
Here Tweezers and Kangaroo Tail script is in your service. The script searches for Tweezer / Kangaroo Tail candlestick patterns and shows them as T (Tweezer) and K (Kangaroo Tail). Thanks to RorschachT who game me the idea and some details while working on this script.
What are these candlestick patterns?
Tweezers :
- A tweezers pattern occurs when the highs/Lows of two candlesticks occur at almost exactly the same level
- Both candles must have wicks
- Bigger Wick / Smaller Wick rate should not be greater than 150% ( 150% by default and you have option to change it)
- First Candle must be highest/lowest for last 5 candles (5 by default and you have option to change it)
- The level of High for Top, Low for Bottom must be almost lower than 20% of the bigger wick of tweezer candles (20% by default and you have option to change it)
- The Candles can be right next to each other or apart but not more than 12 candles apart (12 by default and you have option to change it)
- You will see that Tweezers pattern occurs frequently
Kangaroo Tail:
- Looks almost like a Hammer or Inverted Hammer candle
- They have both its open and close in the top or bottom third of the candle
- There must be some space/room on the left of the kangaroo tail
- The open and close of the Kangaroo Tail candle must be inside the range of the previous candlestick
- The next candle should create a new high or new low
- You have several options to set details about the "Room" that should be on the left and also options for Wick/Body rates
- You can see example below
You have option to enable/disable any of these patterns.
as far as I have tested they are strong reversal patterns but none of the indicators or patterns may not be enough alone. so you should confirm the signals using other indicators or tools
If you need more information you can find a lot of info on the net ;)
Example: Tweezers - Aparted
Example: Kangaroo Tail - Bullish
Enjoy!
Range support and resistanceWelcome all
==========
This script specially is for Kunal Saraogi Senani Traders and beginners.
.
With this script you can find support and resistance for input range on any time-frame chart.
You need not draw line by own. You just input your desired range and this script will do your work automatically.
You can adjust range according to your choice.
Also have an option to select range source which help you to find support and resistance on the basis of close price or high/low of input range. Default range source is close price.
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Latest support and resistance value labels also display on the chart.
.
To use this script, add to favorite and apply on chart.
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Feel free to comment your suggestions.
.
Thanks all
Phoenix085-Studies-PerCentage Current Price ((fib-pivot-%))Misc Details :
Another Indicator and Totally my own concept...
If others have similar study already then Credit to them for coming up with this even before I did but this is just me fiddling with pinescript trying to paint my dream like a great man once said...
Background :
I am a strong believer of Market being Fractals and what best way to script it than Pivots.
So I just wanted to identify the Pivot High and Pivot Low of some period(in the script it is set to 500, please do play with it to get the best setting which captures atleast the major highs and lows of recent past)
I also think that Fibonacci levels are very crucial and so wanted to see how the market reacts at the Fibonacci ratios from Pivot High and Low.
Overview :
As said above the price at Pivot Low is considered as 0% on the graph and Value at Pivot High as the 100%.
Depending on the CMP, the thick white line is plotted...
The main thing of interest here is the Horizontal lines are Fib Levels and the market kinda reacts around those levels as the buyers and sellers have to come to equilibrium...
A price retracing from the 100% level just means Double Top = Sell(Probable) and a bounce from the 0% just means a double bottom = Buy(Probable)....
Also this indicator along with my other Public indicator() might give a better understanding of the price actions (I Hope)...
This is free to use and share with as many as you like...
Credits:
All the great people who have greatly influenced and still continue to do so...
@JustUncleL
@BigBitsIO
@TheArtofTrading
@QuantNomad
@SquigglesNiggles and many many many more
Divergence for Many Indicators v4Hello Traders,
Here is my new year gift for the community, Digergence for Many Indicators v4 . I tried to make it modular and readable as much as I can. Thanks to Pine Team for improving Pine Platform all the time!
How it works?
- On each candle it checks divergences between current and any of last 16 Pivot Points for the indicators.
- it search divergence on choisen indicators => RSI , MACD , MACD Histogram, Stochastic , CCI , Momentum, OBV, VWMACD, CMF and any External Indicator !
- it checks following divergences for 16 pivot points that is in last 100 bars for each Indicator.
--> Regular Positive Digergences
--> Regular Negative Digergences
--> Hidden Positive Digergences
--> Hidden Negative Digergences
- for positive divergences first it checks if closing price is higher than last closing price and indicator value is higher than perious value, then start searching divergence
- for negative divergences first it checks if closing price is lower than last closing price and indicator value is lower than perious value, then start searching divergence
Some Options:
Pivot Period: you set Pivot Period as you wish. you can see Pivot Points using "Show Pivot Points" option
Source for Pivot Points: you can use Close or High/Low as source
Divergence Type: you can choose Divergence type to be shown => "Regular", "Hidden", "Regular/Hidden"
Show Indicator Names: you have different options to show indicator names => "Full", "First Letter", "Don't Show"
Show Divergence Number: option to see number of indicators which has Divergence
Show Only Last Divergence : if you enable this option then it shows only last Positive and Negative Divergences
you can include any External Indicator to see if there is divergence
- enable "Check External Indicator"
- and then choose External indicator name in the list, "External Indicator"
- External indicator name is shown as Extrn
- related external indicator must be added before enabling this option
Coloring, line width and line style options for different type of divergences.
Following Alerts added:
- Positive Regular Divergence Detected
- Negative Regular Divergence Detected
- Positive Hidden Divergence Detected
- Negative Hidden Divergence Detected
Now lets see some examples:
Hidden Divergences:
Regular and Hidden Divergences together:
Showing first letters of indicators:
You can see only the number of indicators which has divergence:
You can see only divergence lines without indicators names and numbers:
option to used different label/line/text colors:
You have option to see only last divergences:
You can change Pivot Period, in following example Pivot Period = 15:
You can use Close or High/Low as Source for Divergence
You can include external indicators and get divergences on it:
Wish you all a happy new year!
Enjoy!
Moving Averages as Support Resistance MTFHello Traders!
As most of you know that Moving Averages with the lengths 50, 100, 150 and 200 are very important. We should use these this moving averages to figure out S/R levels, the possible reversals points, trend direction etc. we should check these moving averages on Higher Time Frames as well. for example if you look at the chart with 5mins time frame, you should also check it in 1hour and 4hour time frames to see to big picture and main trend. this is important as trend is your friend and you should not take positions against the trend.
I developed this script to show them clearly and make the chart understandable. 1 resistance line above the price and 1 support line below the price, it shows the moving average type, length, time frame and S/R level.
You have option to show SMA or EMA and to include/exclude current time frame, because you may want to see only MAs from higher time frames. you should set higher time frames accordingly.
if you add all moving averages for current and higher time frame the chart looks very crowded as following example:
The script makes it clear to understand the chart better, here an example:
It can show when S/R was broken and you get alert. here an example:
You have coloring and style options, you can change line style and colors as you wish:
Enjoy!
Pivot Support and Resistance Finder [JV] V2Dear Traders,
This script is a follow-up to my previous Pivot Support and Resistance Finder.
After so many positive feedback, for which I thank you all, I started rebuilding it to implement some requested features.
The biggest change is that by default, the indicator now shows zones instead of lines.
Support Zone: from low to close
Resistance Zone: from close to high
I removed the 5 lines, instead showing the most recent levels and the forming (fast) levels.
However, if you change the occurrence in the options, you can still see previous levels:
0 = Current Level
1 = Previous Level
2 = Level before the Previous Level
...
More important configurable options:
Pivot Length
Pivot Quick Length (used to draw forming levels
Option to draw using bar closes, wicks or both (area)
Hide / Display to forming level
Show past levels.
I hope this is clear enough.
For any questions, remarks, suggestions, feel free to contact me.
Happy Trading!
Pivot Support and Resistance Finder [JV] V1Hi Traders.
This is my first attempt of writing an indicator.
Let me start by saying I could never have done this without lmatl and WMX_Q_System_Trading who were and are an incredible source of inspiration.
This indicator shows horizontal Pivot Support and Resistance . It draws up to 4 horizontal lines extending to the right from and adds labels to High and Low Pivot Candles . It also draws the Support / Resistance that is currently forming.
You can select the number of lines on the current timeframe.
There are some options in Settings:
Current timeframe pivot settings
Show and hide levels of the current timeframe
Change colors
Extend Lines
Any suggestions are more than welcome!
I also welcome donations, no matter how small ;-)
RSI Tops and BottomsHello Traders
This script finds Tops when RSI is in overbought area or Bottoms when RSI is in oversold area and checks the divergence between them. it checks divergence at tops/bottoms after RSI exited from OB/OS areas.
You can change overbought / oversold levels.
You can limit the time that RSI is in OB/OS area with the option "Max Number of Bars in OB/OS"
you can set the minimum/maximum distances between Tops/Bottoms with the options "Min Number of Bars between Tops/Bottoms" and "Max Number of Bars between Topss/Bottoms"
and you can set the color and line widths as you wish.
These tops or bottom must be sequential, means there mustn't be another top while checking tops or bottom while checking bottoms between them.
in next example you can see valid and invalid bottoms:
After you got signal then you better use Stop Order, a few pips higher than the high of colored candle for long positions, ( vise versa in short positions ). so you may escape from traps. ("Stop order" is filled when the price reached a pre-specified price. for example the price is now 10.0 and you set Buy Stop Order at 11.0 then if price reaches 11.0 then your buy order get filled. you can put stoploss a few pips lower than the low of colored candle or you can use ATR to decice stoploss level. how you wish)
For example in following screenshot you can see that buy stop order was not filled and you didn't take long position.
Enjoy!
