Sentiment Range MA [ChartPrime]The "Sentiment Range MA" provides traders with a dynamic perspective on market activity, emphasizing both stability in chop zones and quick adaptability outside of them.
Key Features:
Chop Zone Stability: In choppy markets, this indicator remains consistent, filtering out the noise to provide a clear view.
Quick Adaptability: Should the price break out of these zones, the indicator recalibrates promptly.
Dynamic Support and Resistance: Adapts based on the latest price action, serving as an evolving reference point.
Emphasis on Recent Levels: The tool factors in the latest notable market levels to stay relevant and timely.
Configurations:
Data Source: Choose your desired metric, though many default to the closing price.
Output Smoothing: Adjust the SR MA's response to market movements.
Trigger Smoothing: Refine boundary definitions based on your market insights.
ATR Period: Set the period for the ATR, influencing the surrounding boundary's width.
Range Multiplier: Control the ATR's effect on the range.
Range Switch: Flip between high-low and open-close values for range determination.
Visuals
Sentiment Range MA Line:
- This is the flowing line that transitions between green and red.
- When it's green, it indicates bullish momentum in the market. This suggests a prevailing upward trend and can be an entry cue for traders who trade with the trend.
- When it turns red, bearish sentiments dominate. It indicates the potential beginning of a downtrend or a continued downtrend. Traders might interpret this as a signal to be cautious, to short the market, or to exit long positions.
The Chop Zone:
- This is the space between the price candles and the Sentiment Range MA line. It represents a region where the price is considered to be moving sideways or without a clear direction. Price movements within the chop zone might not be substantial enough to warrant a trading decision. Only when the price breaks out of this zone do we see the Sentiment Range MA line change color, signaling a potential trading opportunity.
By interpreting these visuals, traders can make more informed decisions based on the prevailing market sentiment and trend. The chart becomes a tool, providing both an overview of the market condition and potential entry or exit points based on the Sentiment Range MA indicator's readings.
Detailed Settings Overview
Understanding the settings of the Sentiment Range MA Indicator can greatly enhance its utility in your trading strategy. Let's dive deeper into each:
Output Smoothing:
Purpose: It refines the SR MA to provide a clearer trend perspective.
Functionality:
- At `0`, it ensures the indicator responds immediately to price deviations from the chop zone.
- At higher values, it transforms the indicator into a volatility-adjusted moving average.
Filtering Modes:
- Single Filtering: Prioritizes speed.
- Double Filtering: Emphasizes stability.
Trigger Smoothing:
Purpose: Used for the range break detection.
Functionality: It dampens the indicator's sensitivity to sudden market volatility, preventing unnecessary triggers.
ATR Length:
Purpose: Governs the retrospective period for the chop zone.
Functionality:
- Higher values offer a more consistent and broad range size, capturing more historical data.
- Lower values allow for a more adaptive and responsive range.
Range Multiplier:
Purpose: Modifies the breadth of the range around the SR MA.
Functionality: Increasing the multiplier will extend the range, giving more leeway before triggering, while decreasing it will narrow the range, making the indicator more responsive to price changes.
Range Style:
Purpose: Decides which candlestick data is factored into the true range calculations.
Options:
- Body: Uses the open and close values.
- Wick: Accounts for the high and low values.
Functionality: Switching between styles lets you prioritize either the overall volatility (Wick) or just the concluded price action for a period (Body).
By fine-tuning these settings, traders can tailor the Sentiment Range MA Indicator to various market conditions and personal trading styles, ensuring optimal decision-making.
Quick Start
Based on the provided chart, here's a brief explanation of the default settings for the Sentiment Range MA Indicator:
Length: Set at ` 20 `.
- This determines the base moving average period. A standard setting, it calculates the average price over the last 20 periods, providing traders with a clear perspective of short-term trends.
ATR Length: Set at ` 200 `.
- This adjusts the lookback period for the Average True Range (ATR), which in turn influences the chop zone calculation. At a setting of 200, it offers a comprehensive view, considering a longer stretch of historical data.
Range Multiplier: Set at ` 6 `.
- This multiplies the ATR value, widening or narrowing the band around the SR MA. A setting of 6 means the range around the SR MA is determined by multiplying the ATR by 6, offering a broader fluctuation zone.
On the chart, the green line represents the bullish sentiment and the red represents the bearish sentiment. Price movements above and below these lines can be used as potential buy or sell signals respectively. Fine-tuning these settings can cater the Sentiment Range MA Indicator to your specific trading strategy and market condition preferences.
Alternative Settings
For traders looking to adapt to faster market conditions or prefer a more agile analysis, here's a brief description of the alternative settings for the Sentiment Range MA Indicator:
Length: Set at ` 3 `.
- This highly responsive setting calculates the average price over the last 3 periods. Ideal for quick market movements, it offers traders insights into very short-term price trends and potentially swift trade opportunities.
ATR Length: Set at ` 50 `.
- This shorter lookback period for the Average True Range (ATR) focuses on more recent market volatility, providing a tighter and more current chop zone calculation. It's suitable for those wanting to respond to recent market shifts.
Range Multiplier: Set at ` 4 `.
- Multiplying the ATR by 4 narrows down the buffer around the SR MA. This creates a tighter sentiment range, possibly resulting in more frequent crossovers and trading signals.
In the provided chart, the green line still denotes bullish momentum while the red symbolizes bearish sentiment. These alternative settings might generate more frequent signals, so traders should ensure their strategy is aligned with this heightened sensitivity.
Wrapping Up
The Sentiment Range MA melds stability and agility, making it a valuable tool in your trading toolkit. As always, before integrating new indicators, take the time to understand its nuances and potential impacts on your strategy.
스크립트에서 "range"에 대해 찾기
Tick Weighted Average Price RangesTick Weighted Average Price Ranges
Tick weighted average prices ( TiWAP ) are prices averaged from movements of TICK that break above or below configured sensitivity (500 default). The TiWAP indicator plots bands calculating various standard deviations from that averaged price that expand as the anchorage session progresses.
A core feature of TiWAP is the "Show Target Levels" feature which projects prior anchored ending deviation values as horizontal plots where price often reacts.
This feature has become increasingly critical to trade plan development with referencing a myriad of TiWAP timeframes and numerous deviations within and beyond the standard 1st, 2nd and 3rd deviation multipliers.
Thus the feature of plotting these prior anchored ending deviation values has been ported into a standalone indicator.
It's now incredibly simple to pick a timeframe, setup standard multipliers and then additional multipliers that can simply be chosen as applicators to the main multipliers.
Example Configuration
Anchorage: Weekly
Standard Multipliers 1st, 2nd and 3rd: 1.0, 2.0 and 3.0 respectively
1st Additional: -0.5
This would result in:
Standard Deviation 1st (1.0, -1.0) Upper, Lower
Additional Deviation 1st (0.5, -0.5) Upper, Lower
Standard Deviation 2nd (2.0, -2.0) Upper, Lower
Additional Deviation 2nd (1.5, -1.5) Upper, Lower
Standard Deviation 3rd (3.0, -3.0) Upper, Lower
Additional Deviation 3rd (2.5, -2.5) Upper, Lower
The aim is to have the "in-between" deviations without the need to use manual drawing tools to find potential areas of pivot, a complete range from the above example would then provide:
3.0, 2.5, 2.0, 1.5, 1.0, 0.5, Prev TiWAP, -0.5, -1.0, -1.5, -2.0, -2.5, -3.0
Usage
Use this to conduct multi-timeframe analysis of where price is relative to TiWAP ranges, review potential reversals at broad market extensions or perhaps trend continuation opportunities given full timeframe continuity (FTFC).
If utilizing higher timeframe anchorages such as quarterly, yearly then chart timeframe will need to scale up in order to allow for proper calculations to run within the 5000 lookback limitations of TradingView.
The higher chart timeframes also may benefit from higher sensitivity settings, such as 1000 on 15m chart and yearly anchorage.
Markets
As TICK tracks up/down tick movement of NYSE/NASDAQ, this indicator should be focused on stocks that closely track those markets. TICK data is only available during RTH so it's recommended to leave ETH off and set anchorage to RTH only when using session timeframe.
Algo Targets [Premium]The Algo Targets indicator includes a suite of tools that attempt to identify market maker liquidity targets in advance.
These levels can be used by traders to determine:
1. future support/resistance
2. entries/exits
3. directional bias
4. potential reversal levels
5. pullback targets
The script uses a proprietary prediction model based on specific candle sequences, historical moves and volatility projections.
These tools have been live tested across a variety of instruments and timeframes, but should be backtested against your preferred ticker for best performance.
Primary Features:
1. Anchors
Anchors are derived from a simple, but powerful, three-candle breakout pattern. We have found that this pattern, when combined with the relative position to previous Anchor patterns on the chart, gives us clues to predicting future price structure.
Common use case: The simplest way to trade Anchors is to know that price *almost always* makes a return visit. This can be a useful tool for reversal traders. Additionally, Anchors often occur just before strong directional momentum. This can be useful for trend traders looking for entry signals.
Power User feature: Projected Ranges can be enabled in Settings. Each Anchor provides a Retracement leg (measured as the midpoint between the last two Anchors) and an Expansion leg (measured as twice the size of the Retracement leg, projected in the opposite direction). If Projected Ranges are enabled, the directional bias is also highlighted within the range, making it easy to spot at a glance.
Caveats: Expansion legs require patience and solid risk management. Additionally, the Expansion leg contains an additional Trigger level which price MUST cross before we consider the Expansion leg to be "in play" as a valid price target. This Trigger is marked on each Expansion legs as a dotted line.
Please note, Anchors require a 3 candle lookback before they are printed to the chart.
2. Target Zones
Target Zones are an advanced feature, and can be enabled in the Settings panel.
Each Target Zone consists of three levels:
Trigger — This the level closest to the current price. We expect it to act as a support/resistance level until price breaks through.
Target — This is the level farthest from the price. This is how far price is likely to move AFTER crossing the Trigger.
Midpoint — This is the level between the Trigger and Target. If price enters a Target Zone and wicks off of the Midpoint line, it’s usually a reversal signal. In this case we would cut our trade, consider the Target “filled” and potentially enter a reversal trade.
Common use case: When prices crosses a Trigger into a Target Zone, we consider that Target level to be “unlocked.” Our expectation is that price will gravitate toward the Target.
Power User feature: There are many strategies that a trader can build around Target Zones. One of our favorites is to use Targets strictly as reversal entries. On ranging days, price will often wick off of a Target level, before making a quick move in the opposite direction.
Caveats: After a Target is unlocked, it may be reached within the next few bars, or it may be saved by the market algorithms for later. Keep an eye on the Midpoint for potential reversals, and as always, proper risk management is key.
IMPORTANT: The presence of a Target Zone on the chart is neither bullish not bearish by itself. We consider the Target to be in play if, AND ONLY IF, price has crossed the Trigger level.
3. Pullback Levels
Pullback Levels are algorithmically detected return levels. They usually act as a strong draw on price, and often appear just before a pullback in price.
Common use case: The simplest way to use Pullbacks is to look for ones that have not been filled, either from a previous day or in after-hours/pre-market. We use them for confirmation bias along with Anchors and unlocked Targets.
Power User feature: For day trading, we set Alerts on our favorite tickers for any detected Pullbacks on the 5 min chart. This usually gives us plenty of time to review the chart for a possible day trade entry.
Settings:
All features are customizable, including color, line length and visibility. This lets you keep your chart as clean as you like, while only displaying additional data when it is needed.
Alerts:
Alerts can be set for all features, with the ability to set bearish and bullish alerts separately, depending on your trading preference. It is recommended to use "Once Per Bar Close" when you create an alert.
Opening Range Breakout (and price targets)This Opening Range Breakout indicator stands apart from others for several reasons. Apart from displaying the opening range high and low on a chart, the script also plots customized potential price targets ( different from any other on TradingView! ) for breakouts and breakdowns in price action. These customized targets can be toggled on and off in the input section of the indicator's settings.
With regard to the indicator itself, it has two other key inputs, the "ORB total time (minutes)" and "ORB Timeframe". The first input sets the maximum number of minutes to be used in the calculation of the opening range, and the second input sets the specific time frame when the opening range is calculated. The script plots the opening range high and low on the chart as two separate lines with the high in blue and the low in white, and these lines dynamically change color of the high to green and the low to red if the current price is above or below the opening range, respectively.
The script starts by calculating whether or not the current bar falls within the specified time frame. It then sets the initial values of the opening range high and low, and continuously updates these values if the current bar's high or low is higher or lower than the previous values, respectively. The updated values are then plotted on the chart with the specified style and color.
Traders may use the ORB Indicator to trade breakouts and breakdowns of the opening range. If the price breaks above the opening range high, traders may look to enter long positions, and if the price breaks below the opening range low, traders may look to enter short positions. The customized price targets may be consulted for potential areas to take profit. The color change of the high and low lines can provide additional confirmation of a potential breakout or breakdown, adding to the strength of the trade setup. It is important to note that the ORB Indicator does not guarantee success, and traders should always consider other technical and fundamental factors before entering a trade.
Users can also create alerts for when price breaks above or below the opening range. This will provide up-to-date live alerts for traders who cannot be staring at their screens all day long.
Dual Fibonacci Zones & Ranged Vol DCA Study - R3c0nTraderWhat does this do?
This signal script (aka Study) was created so it could be used with the corresponding strategy "Dual Fibonacci Zone & Ranged Vol DCA Strategy - R3c0nTrader" to create the buy and sell signals for 3Commas bots.
How to Use
Configure the study to match your settings you have set in the strategy. This script comes with an buy and sell alert conditions built-in. Just click to add alert and select Buy or Sell and paste in your bot messages.
Credits:
Thank you "EvoCrypto" for granting me permission to use "Ranged Volume" to create this study
Thank you "eykpunter" for granting me permission to use "Fibonacci Zones" to create this study
Wurucututu's Daily/Weekly/Monthly HLOCThis script draws the High/Low range for a daily, weekly, or monthly periods. By default is set to weekly.
Also it draws the open and close for each period, painting it in red if open greater than close, and green otherwise.
You can forward shift ranges to see how current price action interacts with ranges from past periods. By default this is set to zero.
For instance, here is the interaction of current week with previous week range (i.e. a 1 week shift forward).
And here is a 7 month shift forward.
SVDThis indicator aims to compare between two charts if trader isn't sure which one is more active and powerful, it does NOT show entries or help your chart analysis directly.
The main features of this indicator is to show vitality and range of any given chart.
Volatility: it calculates the average profit of every swing in the range and the final result will be the chart volatility, which indicate how profitable this chart is.
Range: it calculates the profit of the whole range compared to the total price. (E.g. range bottom is 0.1 and range top is 0.2 the range will be 100%)
Extra: indicator shows the total direction of the chart in term of (STRONG UPTREND, UPTREND, SIDEWAYS, DOWNTREND, STRONG DOWNTREND), if you got (Somthing_wrong) please contact me.
How to use: apply the indicator on different charts that you have chosen and the higher (volatility & range) the more profitable the chart is.
inputs:
Lookback length: how long the range is (how many candles are included).
How intense should the Swing be: how many candles should be counted as a confirmation complete swing.
Show counted Swings: if checked as true, will show the swings counted in the volatility calculation.
For any notes on the indicator to be edited, or for another indicator ideas please comment.
OM Session RangesThis indicator was created to assist in generating the morning and afternoon ranges as defined by Options Millionaire's strategy.
Morning range is determined by identifying the high and low from open to 10:05.
Afternoon range is determined by identifying the high and low from 13:30 to 14:05.
VuManChu Swing FreeThis is the old version of Range Filter from DonovanWall, that VuManChu is selling in his discord as "VuManChu Swing" which in reality is just Range Filter, a open-source script from DonovanWall.
Safe Scalpy Stop Loss. Percentage from price visualizer.This is my first script I have published so bear with me.
I have thrown this together so you can easily see on the chart where -0.5%, -1% and -2% would be from the last candle close. I also replicated these to show positive values in case you are shorting.
I have also added a custom value setting so you can set the line at whatever percentage value you like and included an adjustable recent higher high and higher low finder to help create a recent range as it seems to work well in tandem for scalping range based price movement.
You can turn all these things on and off in the settings on the style checkboxes.
I felt the need to make this because I like to scalp trade with leverage like a total degen from time to time. Often the setups happen very quickly. It is difficult to calculate where to set a stop loss in a hurry so I keep a fixed account size/lev and just vary the position percentage size based on the percentage of the stop loss from the current price.
Sometimes when switching from a lower volatility chart to high volatility one it is easy to get caught out by quickly entering a scalp trade only to find you made your position way too big or you shouldn't have entered at all. You thought it was only moving 0.2% per candle instead of 3%. Whoops. Rekt.
This indicator is all about trying to help me avoid that with a visual clue to back up the bad maths I do quickly in my head.
I often hide it and only show it when I'm ready to enter a position to double check my SL and entry are set in a sensible area.
I thought I would publish it in case someone else finds such a simple tool handy.
Apologies if there is already something out there that does this job. I couldn't find it.
See you all on the moon.
Trend Type Indicator by BobRivera990Usage:
The purpose of this indicator is to programmatically determine the type of price trend using technical analysis tools.
You can do a quick check on the asset’s higher and lower time frames. For example, if you are trading on an H1 chart, you can check the m5 chart to ensure that the trend is in the same direction and similarly check the H4 chart to ensure that the higher time frame price is also moving in the same direction.
If multiple time frame charts confirm a similar trend, then it is considered a very strong trend and ideal for Trend trading.
Remarks:
By default, the last status is related to 8 periods before the latest closing price.
Related definitions:
The three basic types of trends are up, down, and sideways.
1. Uptrend
An uptrend describes the price movement of a financial asset when the overall direction is upward. The uptrend is composed of higher swing lows and higher swing highs.
Some market participants ("long" trend traders) only choose to trade during uptrends.
2. Downtrend
A downtrend refers to the price action of a security that moves lower in price as it fluctuates over time.
The downtrend is composed of lower swing lows and lower swing highs.
3. Sideways
A sideways trend is the horizontal price movement that occurs when the forces of supply and demand are nearly equal. This typically occurs during a period of consolidation before the price continues a prior trend or reverses into a new trend.
How it works:
Step 1: Sideways Trend Detection
In this step we want to distinguish the sideways trend from uptrend and downtrend. For this purpose, we use two common technical analysis tools: ATR and ADX
1. Average True Range (ATR)
The average true range (ATR) is a technical analysis indicator that measures market volatility.
We also use a 20-period moving average of the ATR.
When the ATR is below the average of its last 20-periods, it means that the rate of price volatility has decreased and we conclude that the current trend is sideways
2. Average Directional Index (ADX)
The average directional index (ADX) is a technical analysis indicator used by some traders to determine the strength of a trend.
The trend has strength when ADX is above 25.
So when the ADX is less than or equal to 25, there is no strong trend, and we conclude that the current type of trend is sideways.
Step 2: Detect uptrend from downtrend
If it turns out that the current price trend is not sideways, then it is either uptrend or downtrend.
For this purpose, we use plus and minus directional Indicators (+ DI & -DI).
A general interpretation would be that during a strong trend, when +DI is higher than -DI, it is an uptrend. When -DI is higher than +DI, it is a downtrend.
Parameters:
"Use ATR …" ________________________// Use Average True Range (ATR) to detect Sideways Movements
"ATR Length"_______________________ // length of the Average True Range (ATR) used to detect Sideways Movements
"ATR Moving Average Type" ___________// Type of the moving average of the ATR used to detect Sideways Movements
"ATR MA Length" ____________________// length of the moving average of the ATR used to detect Sideways Movements
"Use ADX ..."_______________________ // Use Average Directional Index (ADX) to detect Sideways Movements
"ADX Smoothing”____________________// length of the Average Directional Index (ADX) used to detect Sideways Movements
"DI Length"_________________________// length of the Plus and Minus Directional Indicators (+DI & -DI) used to determine the direction of the trend
"ADX Limit" ________________________// A level of ADX used as the boundary between Trend Market and Sideways Market
"Smoothing Factor"__________________// Factor used for smoothing the oscillator
"Lag"______________________________// lag used to match indicator and chart
Resources:
www.investopedia.com
Volatility Index of Range Verification█ OVERVIEW
This is a volatility indicator created by extending concepts from Tushar Chande's Range Action Verification Index (RAVI).
█ CONCEPTS
This indicator constructs range of the RAVI indicator. It uses this range to build a histogram that represents how fast the range is changing, or a measure of volatility. A line is then constructed, either from a moving average or standard deviation depending on the settings that can serve as an action trigger.
█ INPUTS
• Fast MA Period: the period of the quickest moving average that is used to build the RAVI indicator line
• Slow MA Period: the period of the slowest moving average that is used to build the RAVI indicator line
• MA Type: the type of moving average to use, either Simple or Exponential
• Price Source: the type of price source to use; close, high, low, hlc3, etc.
• Lookback Period: how far back to construct the minimum and maximum of the range
• Standard Range: the standard range of the indicator. a smaller range will exaggerate differences in the columns, and vice-versa
• Volatility Period: the period used for the trigger line moving average
• Std. Deviation Mode?: Whether the trigger line will plot using a moving average or a multiple of Standard Deviation.
• Deviation Multiplier: How many deviations to use if the trigger line is in Std. Deviation Mode
PB Opening Bar RangesPB Opening Bar Ranges identifies the high and low ranges of those market opens and is to be used as an overall strategy with PB Market Opens.
This is different to indicators out there as it is specific to the Market Opens strategy
This indicator identifies opening range for any time frame.
You can use it to trade out of opening ranges after Gold Pit Opens and Stock exchange opens.
For best results, do the following
Gold use the 5 minute time frame
Forex and Currency futures 10 minute time frame.
Indexes use the 15 minute time frame.
This will be available to lease, please private message us to find out more
Kalihari_Brothers_ORBEasy to use ORB(Opening Range Breakout)..
Multiple Time frame (15minute,30minute,60minute ) and special strategy 12 PM 15min ORB...
Opening Range depend upon time frame market makes own high and low..
Whenever price breaks high of Opening Range make long position and simultaneously whenever price breaks low of Opening Range make short position..
Triple Average True Range Channel Definition: By ADAM HAYES from Investopedia -- Updated Jul 8, 2019
The average true range (ATR) is a technical analysis indicator that measures market volatility by decomposing the entire range of an asset price for that period. Specifically, ATR is a measure of volatility introduced by market technician J. Welles Wilder Jr. in his book, "New Concepts in Technical Trading Systems."
The true range indicator is taken as the greatest of the following: current high less the current low; the absolute value of the current high less the previous close; and the absolute value of the current low less the previous close. The average true range is then a moving average, generally using 14 days, of the true ranges.
I've added a channel perspective from a certain % from the Slow Average Length that user will have to configure depending of resolution and the markets instruments they chose...
Also a fill is used to easily point out when a high distance between a fast and a slow volatility analysis is occurring.
Which is also denotated with a shaped label...
Share and comment my work :)
Session RangesThis is session range indicator with CLEAN code and CLEAR data presentation. There are other range indicators available but when I looked I found them unreliable or making too much screen clutter. WIth mine you can have 3 ranges on screen, measure to bodies or wickes, customise the period, (set your timezone), colours, labels and all that good stuff...
I'm very happy to share it with everyone (and publishing is a great way to archive my code) but ultimately this indicator is by me, for me. Whilst i added a few bells and whistles for everyone this indicator is precisely designed to:
Show me EASILY see what happened in the Asia session and whether we are breaking out with MINIMAL screen clutter. I only use the 3, 15 and 60 - it won't work on the 1, 5, 120 etc because I dont need it to. How I use it is below.
LOSS2PROFIT_Market_RangeFor Breakout Trading..(range trader)
Investor , monthly trader ,weekly trader and daily trader(everyone can use it)..
It show market own range which is created by market/price (not by calculation)..
This are the important decision point which is made by traders(all style)..
Depend upon time frame , most important thing is market opening and market closing..
Entry through market high and market low (important support n resistance)..
Use it wisely according to your strategy.. (logic always works and trust your strategy)
Keep on back testing...
(until you get , what you want)
Eagle Eye Indicator [B]Indicator version with three different modes, Range/Range Additive/Range Normalized.
Colorscheme is the same as the original overlay Project Eagle Eye
Hull-rangefilterMix of XAvi range filter and Hull fib , seems to be nice hybrid
alerts inside for both systems
for each coin isuugets to optimise the Hull length or the range (now set to 5) and then to test it
Donchian Channel with Range AdditionA Donchian Channel with additional zones at places where its range is smaller than a set amount of atr. Thus it kind of combines with Keltner Channel qualities. Purpose is to set a stop loss wide enough to avoid shaking out of a position. The example chart shows a Philips day chart, where I opened position on 16 juli at 37,50 and set the stop loss at low border level 35,60, on 23 juli was an earnings rapport, the wick of the candle shows that quotes went very low, obviously smart traders had to fill a huge order and hunted for stops, triggering my stop closing the position. next days quotes went a lot better, so I missed the fun. The Donchian Channel was too narrow because quotes had ranged in the previous weeks. If I had placed my stop on the additional low, setting it 5 atr below the high border, my stop would have been safe.
Renko Price Bars Overlay// Shows the price renko bars (or range bars) instead of the PERIOD renko
// bars that are integrated into Trading View. The normal renko bars that
// Trading View offers only consider the drawing of a new brick when the
// price closes above or below the required brick size. This can produce
// misleading charts since depending on the time interval of a chart, new
// bricks may or may not be drawn. True price renko bars will draw a new
// brick immediately upon the price exceeding the next target brick size.
// When running this script in "Traditional" mode, the painting of the
// brick overlay band is INDEPENDENT of the chart interval. If price
// exceeds the required target price for the next brick, the band is
// updated immediately, instead of waiting for the price bar on the chart
// interval to close first. The brick starting anchor point will attempt
// to be a "nice number" at a round interval for the chart ticker. For
// example, if viewing EURUSD with the box size equal to 50 ticks/pips,
// the open and close prices will take the form of 1.2100, 1.2150, 1.2200,
// 1.2250, and so on. This is the same behavior as the normal traditional
// Renko bars in Trading View and other major trading platforms such as
// Meta Trader.
// Use the tick size in traditional mode to specify the block size, in
// ticks. This may give interesting results in FOREX pairs... as the tick
// size in Trading View may be 0.00001 instead of the normal pip size of
// 0.0001, so a 10 pip block size may be '100', and not the expected '10'.
// FOREX futures should work in the manner expected, a 10 pip block size
// will indeed equal 0.0010.
// The "ATR" mode functions differently than the Trading View built in
// version. The block size is updated each time the range is exceeded.
// In Trading View, when using the ATR mode, the ATR is the last ATR
// value calculated on the ENTIRE data interval, and is applied to all
// past data. You can see this when you press the '+' sign of the ticker
// in the top left of the chart window and you will see the brick size
// as a constant, the brick size is not a function of the ever changing
// ATR value of the price action. The block size of this script is not
// updated for each price candle (i.e. each 1HR on a 1HR chart), instead
// it is updated only when the price thresholds are exceeded requiring a
// the band to be updated. At that point the current ATR is considered
// and the brick size is updated.
// Options exist to show the current high and low of the brick, and to
// show the required levels that the price must exceed to draw a new
// brick and update the band.
Please leave comments if you notice any bugs or would like any new features added. I don't find much use for plotting the H/L of the current renko candle, but I have seen some request it in the past.
Cheers.
Wideboy - Wide Ranging DaysHighlights wide ranging days with a circle underneath them.
A wide ranging day is defined as where it's true range is greater than twice (configurable by changing input K) the average true range of the preceding 15 days. (Configured by changing the ATR lookback input)
Enjoy!
Forex session - Opening Range- Jayy fixed updatedOpening Range (OR) for Forex 24 hour regular session. This is not for regular market day sessions addressed in a separate script.
This script fixes four issues:
syntax error when code compiles
messed up opening range the day after a holiday Monday
flaky plotting of the opening range and targets that required page reloading
TradingView problems with starting forex session at 1700 hours EST/EDT when using certain securities eg FX_IDC currently (Jan 2017)
Additions in his code are more options for trading range
Time compensation option for some securities that incorrectly start sessions at 1200 hrs instead of 1700 hrs NY time
- this glitch is likely temporary but present when this script update was created
More opening range time period choices
Opening Range Targets:
Opening Range Targets as per Leaf_West
Targets are set at 127% , 162%, 200 %, 262 %, 362%, 423%, 685%, 1109% and 1794% and this can be traded intraday using methods described here charts-by-leaf.com I also have some Leaf West PDFs that describe how the targets are set and how they are traded. There are others that use opening range.
The Time Session Glitch and the Fix:
The script will correctly default to 1700 hrs to 1700hrs EDT/EST session for FXCM.
Strangely some securities appear to erroneously start their session at 1200 hrs ie. My guess is that they are somehow tied to GMT+0 instead of New York time (GMT+5). See this for yourself by selecting EURUSD using the FXCM exchange (FX:EURUSD) and then EURUSD from the IDC exchange (FX_IDC:EURUSD). The FX-IDC session opening range starts 5 hours
before it actually should at 1700 hrs EDT/EST. To correct for this I have implemented an automatic fix (default) and a user selected "5 hour time shift adjust. ment needed on some securities".
There is also a 4 hour time shift button which might be necessary when New York reverts from Eastern Standard Time
to Eastern Daylight Time (1 hour difference) in March (and then back again in November). In the default auto adjust mode you will need to select the 1 hour time shift. That is if this glitch still exists at that time.
I have looked at other scripts, other than my own and where the script is available, that need to use information about the opening bar and all have the same time shift issue
What are the choices for Opening Range?
The dialogue box offers the standard TradingView options.
Also where you see Pick Opening Range 1 to 12 hours , SET TO 0 To USE LINE ABOVE TO DETERMINE OR LENGTH
As the note says a number other than 0 will override the standard options from the line above
The dialogue box below in offers choices by hours 1 to 12. A number greater than 12 will still only give
720 minutes (12 hours) for the length of Opening Range.
What sessions within the FOREX time-frame are available?
The default is 1700 hours to 1700 hours EST/EDT
Check any one (only one) of the time periods to change the opening range period to suit.
New York opens at 8:00 am to 5:00 pm EST (EDT)
Tokyo opens at 7:00 pm to 4:00 am EST (EDT)
Sydney opens at 5:00 pm to 2:00 am EST (EDT)
London opens at 3:00 am to 12:00 noon EST (EDT)
There is a build your own session (click the button to select)
The two lines for inputting session times are almost identical except that the second line starts the be the same as each other.
The default for the build your own session is 2200 hours to 2200 hours. As of the time of publishing this plots EURUSD FX-IDC just right. The GMT+5 and GMT+4 do not apply to this selection.
See my comments above on this strange aberration.
The script originated from work done by Chris Moody. It has changed significantly but there are remnants of that script lurking within.
Script is free to all - that way you can see what is inside
Cheers Jayy
