DAILY AND WEEKLY MID LINESDAILY AND WEEKLY MID LINES INDICATOR
Description:
This indicator calculates and visualizes the dynamic midpoint (mid) of the current day and week in real-time. It provides traders with key reference levels based on developing price action.
Features:
Daily Mid Line:
Color: Orange
Thickness: 3 pixels
Style: Solid line
Updates: Automatically recalculates with each new candle
Calculation: Average of the day's highest high and lowest low from market open
Weekly Mid Line:
Color: Blue
Thickness: 3 pixels
Style: Dashed line
Updates: Continuously recalculates throughout the week
Calculation: Average of the week's highest high and lowest low from week start
How It Works:
At the start of each new trading day (00:00), the daily mid line resets and begins calculating from the first candle
At the start of each new trading week (typically Monday), the weekly mid line resets and begins fresh calculations
Both lines extend automatically to the right as new candles form
The lines are dynamic - they adjust as new highs/lows are made during the day/week
Trading Applications:
Support/Resistance Levels:
The mid lines act as natural equilibrium points where price may find temporary support or resistance
Daily mid can serve as intraday pivot, weekly mid as broader market balance point
Trend Analysis:
Price consistently above mid lines suggests bullish momentum
Price consistently below mid lines suggests bearish momentum
Relationship between daily and weekly mid lines shows multi-timeframe alignment
Entry/Exit Signals:
Price crossing above daily mid may indicate short-term bullish momentum
Price crossing below daily mid may indicate short-term bearish momentum
Weekly mid breaks can signal more significant trend changes
Market Context:
Distance between price and mid lines indicates market extremity
Steeper mid line slopes suggest stronger directional momentum
Flat mid lines suggest range-bound or consolidating markets
Confluence Trading:
Combine with other indicators (RSI, MACD, moving averages) for confirmation
Use as dynamic levels for stop-loss placement or take-profit targets
Best Practices:
More effective on higher timeframes (1H, 4H, Daily) for clearer signals
Works well in trending markets where mid lines act as moving support/resistance
Monitor for price rejection or acceptance at mid levels for trading decisions
Use in conjunction with volume analysis for confirmation
Psychological Significance:
Mid points often represent fair value areas where buyers and sellers find temporary equilibrium, making them natural decision points for market participants.
This indicator is particularly useful for day traders, swing traders, and position traders looking for dynamic, real-time reference points that adapt to current market conditions rather than relying on static historical levels.
스크립트에서 "weekly"에 대해 찾기
Sunday Open & Friday Close LinesSunday Open & Friday Close Lines — © Erica Lorrai | Trade Tribe HQ
A clean weekly anchor tool for traders who love simple, high-signal charting.
Clean charts, clean mind, clean trades.
This script marks the two most important moments of every trading week:
where the market closed… and where it truly reopened.
Designed for traders who use dealer-cycle logic, market structure, or BTMM-style timing, these lines help you instantly:
Spot weekend gaps
Identify weekly narrative shifts
See where the dealers reset liquidity
Anchor your weekly analysis with precision
Track the beginning of new cycles and the end of old ones
No clutter. No noise. Just two high-value levels that quietly run your entire week.
Customize the color, width, and line type to match your chart style and make weekly transitions impossible to miss.
Whether you're new to trading or deep into pattern-cycle logic, this little tool becomes one of those “how did I trade without this?” markers.
© Erica Lorrai — Trade Tribe HQ
Aloha & welcome to the Tribe. 🌺
How to Use
Add the script to your chart on any timeframe.
The indicator automatically detects each new trading week.
Two vertical lines will appear:
Friday Close Line – last candle before the weekend
Sunday Open Line – first candle of the new week
Use the settings panel to customize color, width, and line style.
These weekly anchors help you identify weekend gaps, weekly resets, and structural shifts in real time.
If you’re new here — welcome to the Tribe. 🌺
This little tool is one of the first things I teach my traders:
“See the week clearly, and the trades get clearer too.”
If you want more BTMM-style tools, weekly breakdowns, or want to learn the system behind these levels, come hang out at Trade Tribe HQ.
Happy trading.
— Erica Lorrai
z8u Daily & Weekly Key Levels (Extended)1. OVERVIEW
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The "Daily & Weekly Key Levels" indicator is a charting tool designed to
visualize critical auction market structures. It overlays automated
historical price data (Previous Day/Week Highs and Lows) with manual
inputs for Volume Profile levels (VAH, VAL, POC) and Institutional
"Kickoff" levels.
It is designed to replicate specific institutional styling, allowing
traders to see where the market is balancing relative to previous sessions.
2. FEATURES
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Automated Lookback:
Automatically calculates previous Day's High/Low/Settlement and
previous Week's High/Low.
Hybrid Input System:
Allows manual entry for data points that require specific feed
accuracy (Value Area High, Value Area Low, POC).
Clean Charting:
Manual levels default to '0.0'. If no price is entered in the
settings, the lines remain invisible to keep the chart clean.
Custom Styling:
Colors and line weights are pre-configured to match standard
Volume Profile aesthetics.
4. CONFIGURATION (INPUTS TAB)
------------------------------------------------------------------------
To see the Volume Profile and Kickoff lines, you must enter prices
manually in the indicator settings.
1. Double-click the indicator line on the chart (or the gear icon).
2. Go to the "Inputs" tab.
3. Enter the price levels for the current session:
- Yesterday's Value Area High Price
- Yesterday's VPOC Price
- Yesterday's Value Area Low Price
- Weekly Kickoff Low Price
- Weekly Kickoff High Price
*Note: If you leave a value as 0.0, that specific line will not be drawn.*
5. COLOR LEGEND (STYLE TAB)
------------------------------------------------------------------------
The lines are color-coded as follows:
Last Week's High
Yesterday's High
Yesterday's Value Area High (VAH)
Yesterday's VPOC (Volume Point of Control)
Settlement (Previous Close)
Yesterday's Value Area Low (VAL)
Yesterday's Low
Weekly Kickoff Low
Weekly Kickoff High
Last Week's Low
6. DISCLAIMER
------------------------------------------------------------------------
This tool is for informational and educational purposes only. It does not
constitute financial advice. Trading futures and financial markets
involves substantial risk of loss.
14 minutes ago
Release Notes
UPDATE
*Added Extend Levels to the Right Toggle
[MTX] Weekly Support & Resistance Weekly Support & Resistance
Overview
Discover key market structure with this all-in-one indicator:
Weekly Support & Resistance (SR) levels , Fair Value Gap (FVG) detection , and Automatic Fibonacci retracements .
Designed for MTX traders, it plots non-repainting weekly highs/lows/opens/closes, highlights unmitigated FVGs for potential imbalances, and auto-draws Fib levels, Perfect for swing/day traders on XAUUSD.
🚀 Key Features
- Weekly SR Levels : Plots previous week's High (resistance), Low (support), Open, and Close. Optional historical levels (Week -2/-3).
- SR Zones : Customizable % zones around levels for dynamic support/resistance bands. Fill colors for easy visualization.
- FVG Detection : Identifies bullish (green) and bearish (red) Fair Value Gaps on your chart timeframe.
- buy/sell Signals :
- Trend Filter : Optional EMA/SMA to filter signals
- Auto Fibonacci : auto-retracement with 20+ levels (0%, 23.6%, 38.2%, 50%, 61.8%, 100%, extensions to 423.6%, negatives). Custom colors, labels, and background fills.
- Alerts: Built-in for FVG creation/mitigation + all buy/sell signals. Set up once for real-time notifications.
⚠️ Important Disclaimer
This indicator is for educational and analysis purposes only. It provides visual tools and signals based on historical price action— not financial advice. Past performance ≠ future results. Trading involves risk; use proper risk management. Backtest thoroughly. No guarantees of profitability. Consult a financial advisor.
#tradingview #smc #MTX #fvg #fibonacci #supportresistance
Strict Weekly 50/200 WMA Signals True Weekly Only-Strict Weekly 50/200 WMA Signals True Weekly Only => also on other time frames than weekly (like daily, etc.) always indicates the indicators based on the weekly chart
-especially useful for Crypto
-gives buy and sell signals when the 200 WMA or the 50 WMA are crossed
-typically above the 50 WMA indicates a bull market
-reaching below the 200 WMA indicates a bear market and typically for investors with a longer time frame (>2-4 years) a good entry point
RSI Arrow Signals (Daily & Weekly)📘 Indicator Overview
This indicator identifies oversold conditions using RSI on two higher timeframes and plots visual signals directly on the chart. It is designed for traders who want to track multi-timeframe RSI exhaustion without switching charts.
🔍 How It Works
1. Daily RSI Signal (Orange Arrow)
The script pulls Daily RSI using request.security().
When the Daily RSI closes at 30 or below, an orange upward arrow is displayed beneath the bar.
2. Weekly RSI Signal (Red Arrow)
The script also retrieves Weekly RSI.
When the Weekly RSI closes at 30 or below, a red upward arrow appears beneath the bar.
Both signals use confirmed candle data to reduce repainting.
🎯 Purpose
This tool highlights potential oversold reversal zones across two key timeframes.
It helps traders quickly identify moments when price may be stretched to the downside on Daily or Weekly context
⚙️ Features
Multi-timeframe RSI (Daily & Weekly)
Color-coded arrow signals for quick visual recognition
Optional alert conditions for automated notifications
Works on any chart timeframe via request.security()
Repaint-safe (no lookahead_on)
📌 Important Notes
Signals only appear after the Daily or Weekly candle closes.
This indicator is not a buy/sell system; it serves as a market condition signal.
Use together with your own risk management and additional confluence.
*this indicator is helped by GPT
Custom Weekly WED→TUEPurpose:
This indicator creates custom weekly candles with a week boundary running from Wednesday to Tuesday (WED→TUE) for any symbol. It is designed for systems that prefer to close the trading week on Tuesday’s session instead of the standard weekend.
Custom Candle Logic (WED→TUE):
• Open = Opening price on Wednesday (start of the custom week).
• Close = Closing price on Tuesday (end of the custom week).
• High/Low = Maximum/minimum during the entire range from Wednesday → Tuesday.
Display Behavior:
• Only renders when the chart timeframe = 1W (Weekly).
• Completed weeks (with full Wed→Tue data) are shown as candlesticks (colored up/down based on O/C).
• The current incomplete week is shown as a preview box shifted to the next weekly slot (the column to the right), allowing you to see the progress of the ongoing week while keeping the last completed week intact.
Inputs:
• Start day (1=Mon…7=Sun) — default is 3 = Wednesday. You can change this to redefine the week boundary.
• Show current (incomplete) custom week — toggles the preview box for the current running week.
• Up/Down/Doji color — defines the colors of completed weekly candles.
• Preview box transparency — controls the opacity of the preview box for the ongoing week.
Daily/Weekly EMAs on Lower TimeframesThis indicator allows traders to view Daily and Weekly EMAs (Exponential Moving Averages) directly on lower timeframes such as 1m, 5m, 15m, or 1h charts — providing a higher timeframe perspective without switching charts.
The script includes individual checkboxes for each EMA length — 5, 8, 9, 21, 50, and 200 — organized into two clear sections:
🟢 Daily EMAs
🔵 Weekly EMAs
You can selectively enable or disable any EMA to match your trading style and reduce chart clutter.
Each EMA is color-coded for clarity and consistency:
5 EMA: Green
8 EMA: Blue
9 EMA: Blue
21 EMA: Orange
50 EMA: Purple
200 EMA: Red
Weekly EMAs appear slightly transparent to distinguish them from daily ones.
This makes it easy to visualize higher timeframe trend direction, confluence zones, and dynamic support/resistance levels while trading intraday.
💡 Key Features
View Daily and Weekly EMAs on smaller timeframes.
Individual checkbox toggles for all 6 EMA lengths.
Separate sections for Daily and Weekly EMAs.
Color-coded lines for easy visual recognition.
Works seamlessly on any symbol or timeframe below Daily.
Pattern Match & Forward Projection – Weekly (EN)
Overview
This indicator searches for recurring price patterns in weekly data and projects their average forward performance.
The logic is based on historical pattern repetition: it scans past price sequences similar to the most recent one, then aggregates their forward returns to estimate potential outcomes.
⚠️ Important: The indicator is designed for weekly timeframe only. Using it on daily or intraday charts will trigger an error message.
Settings (Inputs)
Pattern Settings
Pattern length (weeks): Number of weeks used to define the reference pattern.
Forward length (weeks): Number of weeks into the future to evaluate after each pattern match.
Lookback (weeks): Historical window to scan for past pattern matches.
Normalize by shape (z-score): If enabled, patterns are normalized by z-score, focusing on shape similarity rather than absolute values.
Distance threshold (Euclidean): Maximum allowed Euclidean distance between the reference pattern and historical candidates. Smaller values = stricter matching.
Min. required matches: Minimum number of valid matches needed for analysis.
Quality Filters
Min required Hit%: Minimum percentage of positive outcomes (upside forward returns) required for the pattern to be considered valid.
Return filter mode:
Either: absolute average return ≥ threshold
Long only: average return ≥ threshold
Short only: average return ≤ -threshold
Min avg return (%): Minimum average forward return threshold for validation.
Visual Options
Highlight historical matches (labels): Marks where in history similar patterns occurred.
Max match labels to draw: Caps the number of match markers shown to avoid clutter.
Draw average projection: Displays the average projected forward curve if conditions are met.
Show summary panel: Enables/disables the information panel.
Show weekly avg curve in panel: Adds a breakdown of average returns week by week.
Projection color: Choose the color of the projected forward curve.
What the Screen Shows
Summary Panel (top-left by default)
Total matches found in history
Matches with valid forward data
Average, minimum, and maximum distance (similarity measure)
Average forward return and Hit%
Distance threshold and normalization setting
Weekly average forward curve (if enabled)
Quality filter results (pass/fail)
Projection Curve (dotted line on price chart)
Drawn only if enough valid matches are found and filters are satisfied
Represents the average forward performance of historical matches, anchored at the current bar
Historical Match Labels (▲ markers)
Small arrows below past bars where similar patterns occurred
Tooltip: “Historical match”
Forecast Logic
The indicator does not predict the future in a deterministic way.
Instead, it relies on a pattern-matching algorithm:
The most recent N weeks (defined by Pattern length) are taken as the reference.
The algorithm scans the last Lookback (weeks) for segments with similar shape and magnitude.
Similarity is measured using Euclidean distance (optionally z-score normalized).
For each valid match, the subsequent Forward length weeks are collected.
These forward paths are averaged to generate a composite forward projection.
The summary panel reports whether the current setup passes the quality filters (Hit% and minimum average return).
Usage Notes
Best used as a contextual tool, not a standalone trading system.
Works only on weekly timeframe.
Quality filters help distinguish between noisy and statistically meaningful patterns.
A higher number of matches usually improves reliability, but very strict thresholds may reduce sample size.
📊 This tool is useful for traders who want to evaluate how similar historical setups have behaved and to visualize potential forward paths in a statistically aggregated way.
KA Weekly Open (Apertura Semanal)KA Weekly Open (Current Week Only)
This indicator automatically plots a horizontal line at the weekly opening price on your chart.
The line updates each week with the new weekly open.
Historical weekly lines remain fixed (not extended).
The current week’s line extends to the left, and the price label is shown on the right side of the chart, near the price scale.
You can adjust the label’s offset from the scale using the input settings.
Daily/Weekly Wick (Shadow) Range📈 Detailed Guide to the Daily/Weekly Wick (Shadow) Range Indicator
This indicator is a powerful visualization tool designed to map the key price levels established during the previous trading period (either the previous day or the previous week). Instead of just showing a single line for the high and low, it highlights the entire range of the upper and lower wicks (shadows), representing the "battleground" where buyers and sellers were most active.
How It Works
The Wick (Shadow) Range indicator fetches the Open, High, Low, and Close data from the last completed daily or weekly candle and projects those levels onto your current chart. This creates two distinct colored zones.
Upper Wick (Green Zone): This area spans from the Previous High down to the top of the Previous Candle's Body. It visually represents the territory where sellers successfully pushed the price down from its peak. This entire zone can be considered a resistance area.
Lower Wick (Red Zone): This area spans from the bottom of the Previous Candle's Body down to the Previous Low. It shows where buyers stepped in to defend a price level and push it back up. This entire zone can be considered a support area.
How to Use It in Your Trading
This indicator isn't meant to give direct buy or sell signals on its own. Instead, it provides crucial context about market structure. Here are several ways to incorporate it into your strategy:
1. Identifying Key Support & Resistance
This is the indicator's primary function. The most significant levels are:
Key Resistance: The top edge of the green zone (the previous period's high).
Key Support: The bottom edge of the red zone (the previous period's low).
Look for the current price to react when it approaches these boundaries. These are high-probability areas for price to pause or reverse.
2. Watching for Price Rejection (Reversal Trading)
The colored zones are perfect for spotting rejection signals.
Bearish Rejection 📉: If the current price enters the green zone but fails to stay there, closing back below it (often forming a new wick), it's a strong sign that sellers are still in control at that level. This can be an excellent entry signal for a short position.
Bullish Rejection 📈: If the current price dips into the red zone and is quickly bought back up, it shows that buyers are actively defending that area. This can be a great entry signal for a long position.
3. Confirming Breakouts (Trend Trading)
The zones also help validate breakouts.
Bullish Breakout: If the price pushes decisively through the entire green zone and closes above the previous high, it signals that the previous resistance has been broken and the trend may continue upward.
Bearish Breakdown: If the price falls decisively through the entire red zone and closes below the previous low, it confirms that support has failed and the price may continue downward.
4. Setting Context with Timeframes
Weekly Setting: Use the "Weekly" option to identify major, significant support and resistance levels that can influence the market for the entire week. These are powerful levels for swing trading.
Daily Setting: Use the "Daily" option for intraday trading. The previous day's high and low are critical pivot points that many day traders watch.
⚙️ Indicator Settings
The indicator has one simple setting, which you can access by clicking the gear icon ⚙️ next to its name on the chart.
Select Wick Timeframe: This dropdown menu allows you to switch the indicator's calculation between the Daily and Weekly timeframe instantly.
Key Levels: Daily, Weekly, Monthly [BackQuant]Key Levels: Daily, Weekly, Monthly
Map the market’s “memory” in one glance—yesterday’s range, this week’s chosen day high/low, and D/W/M opens—then auto-clean levels once they break.
What it does
This tool plots three families of high-signal reference lines and keeps them tidy as price evolves:
Chosen Day High/Low (per week) — Pick a weekday (e.g., Monday). For each past week, the script records that day’s session high and low and projects them forward for a configurable number of bars. These act like “memory levels” that price often revisits.
Daily / Weekly / Monthly Opens — Plots the opening price of each new day, week, and month with separate styling. These opens frequently behave like magnets/flip lines intraday and anchors for regime on higher timeframes.
Auto-pruning — When price breaks a stored level, the script can automatically remove it to reduce clutter and refocus you on still-active lines. See: (broken levels removed).
Why these levels matter
Liquidity pockets — Prior day’s high/low and the daily open concentrate stops and pending orders. Mapping them quickly reveals likely sweep or fade zones. Example: previous day highs + daily open highlighting liquidity:
Context & regime — Monthly opens frame macro bias; trading above a rising cluster of monthly opens vs. below gives a clean top-down read. Example: monthly-only “macro outlook” view:
Cleaner charts — Auto-remove broken lines so you focus on what still matters right now.
What it plots (at a glance)
Past Chosen Day High/Low for up to N prior weeks (your choice), extended right.
Current Daily Open , Weekly Open , and Monthly Open , each with its own color, label, and forward extension.
Optional short labels (e.g., “Mon High”) or full labels (with week/month info).
How breaks are detected & cleaned
You control both the evidence and the timing of a “break”:
Break uses — Choose Close (more conservative) or Wick (more sensitive).
Inclusive? — If enabled, equality counts (≥ high or ≤ low). If disabled, you need a strict cross.
Allow intraday breaks? — If on, a level can break during the tracked day; if off, the script only counts breaks after the session completes.
Remove Broken Levels — When a break is confirmed, the line/label is deleted automatically. (See the demo: )
Quick start
Pick a Day of Week to Track (e.g., Monday).
Set how many weeks back to show (e.g., 8–10).
Choose how far to extend each family (bars to the right for chosen-day H/L and D/W/M opens).
Decide if a break uses Close or Wick , and whether equality counts.
Toggle Remove Broken Levels to keep the chart clean automatically.
Tips by use-case
Intraday bias — Watch the Daily Open as a magnet/flip. If price gaps above and holds, pullbacks to the daily open often decide direction. Pair with last day’s high/low for sweep→reversal or true breakout cues. See:
Weekly structure — Track the week’s chosen day (e.g., Monday) high/low across prior weeks. If price stalls near a cluster of old “Monday Highs,” look for sweep/reject patterns or continuation on reclaim.
Macro regime — Hide daily/weekly lines and keep only Monthly Opens to read bigger cycles at a glance (BTC/crypto especially). Example:
Customization
Use wicks or bodies for highs/lows (wicks capture extremes; bodies are stricter).
Line style & thickness — solid/dashed/dotted, width 1–5, plus global transparency.
Labels — Abbreviated (“Mon High”, “D Open”) or full (month/week/day info).
Color scheme — Separate colors for highs, lows, and each of D/W/M opens.
Capacity controls — Set how many daily/weekly/monthly opens and how many weeks of chosen-day H/L to keep visible.
What’s under the hood
On your selected weekday, the script records that session’s true high and true low (using wicks or body-based extremes—your choice), then projects a horizontal line forward for the next bars.
At each new day/week/month , it records the opening price and projects that line forward as well.
Each bar, the script checks your “break” rules; once broken, lines/labels are removed if auto-cleaning is on.
Everything updates in real time; past levels don’t repaint after the session finishes.
Recommended presets
Day trading — Weeks back: 6–10; extend D/W opens: 50–100 bars; Break uses: Close ; Inclusive: off; Auto-remove: on.
Swing — Fewer daily opens, more weekly opens (2–6), and 8–12 weeks of chosen-day H/L.
Macro — Show only Monthly Opens (1–6 months), dashed style, thicker lines for clarity.
Reading the examples
Broken lines disappear — decluttering in action:
Macro outlook — monthly opens as cycle rails:
Liquidity map — previous day highs + daily open:
Final note
These are not “signals”—they’re reference points that many participants watch. By standardising how you draw them and automatically clearing the ones that no longer matter, you turn a noisy chart into a focused map: where liquidity likely sits, where price memory lives, and which lines are still in play.
Spiderlines BTCUSD - daily/weekly📘 Documentation – Daily and Weekly Spider Lines for Bitcoin
🔹 Purpose of the Script
This script draws dynamic “Spider Lines” in the Bitcoin chart.
The lines connect certain historical candles with a reference candle and extend to the right.
These act as guideline levels that can serve as potential support or resistance zones.
🔹 How It Works
The script operates in two modes, depending on the active chart timeframe:
Weekly Mode (timeframe.isweekly)
The reference date is July 1, 2019.
The number of weeks since that date is calculated.
This defines the connection candle (connection_candle).
Several predefined offsets (e.g., +32, +34, +36 …) are added to the reference to determine starting candles.
Lines are drawn from these candles toward the connection candle.
→ Line color: green
Daily Mode (timeframe.isdaily)
Same reference date: July 1, 2019.
The number of days since that date is calculated.
Again, a connection candle is set.
A different set of offsets (e.g., +224, +238, +252 …) defines the starting candles.
Lines are drawn accordingly.
→ Line color: red
🔹 Line Logic
Each line connects:
Start → bar_index at high
End → bar_index at close
Lines are extended indefinitely to the right (extend.right).
Appearance: dashed style, width 2.
🔹 Error Handling
If a calculated candle index does not exist in the chart history (e.g., chart data does not go back far enough),
a label is plotted in the chart showing the message:
"Daily idx out of range: 252"
This way, missing lines can be diagnosed easily.
🔹 Color Convention
Weekly Spider Lines → Green
Daily Spider Lines → Red
🔹 Use Cases
Visualization of historical cyclic line patterns.
Helps in technical chart analysis: spotting potential reaction zones in price movement.
Designed mainly for long-term traders and analysts observing Bitcoin in Daily or Weekly timeframes.
🔹 Limitations
Works only on Daily and Weekly charts.
Requires chart data going back to July 1, 2019.
Based purely on fixed offsets → not a classical indicator like Moving Averages or RSI.
DCA Anchor (Weekly/Monthly/N Bars) [CHE] What is Dollar-Cost Averaging (DCA)?
DCA is a position-building method where you invest a fixed amount at fixed intervals (e.g., weekly or monthly) regardless of price. Over time, this:
reduces timing risk (you don’t need to guess tops/bottoms),
smooths entry price by buying more units when price is low and fewer when price is high,
keeps decisions simple and repeatable.
Trade-offs:
You’ll never catch the exact bottom.
In strong uptrends, lump-sum can outperform.
Fees matter if you buy very frequently.
Simple math:
Qty bought at time t = `amount / price_t` (net of fees if fees are not “on top”).
Total qty = sum of all buys.
Average price (cost basis) = `total invested / total qty`.
Equity = `total qty last price`.
P\&L = `equity − total invested` (and `%` = `P&L / total invested`).
DCA Anchor (Weekly/Monthly/N Bars)
Purpose: automate scheduled DCA buys on chart data, optionally add extra buys on drawdowns, track stats, and fire alerts.
Core features
Schedules:
1. Every N bars,
2. Weekly (first bar of a new week),
3. Monthly (first bar of a new month).
A Start time input gates when the logic begins.
Fees model:
Fee on top: you pay `amount + fee` in cash; quantity = `amount / close`.
Fee from amount: fee is deducted from the amount; quantity is smaller, cash outlay equals `amount`.
Optional drawdown buys:
Trigger when `close ≤ avgCost (1 − ddPct/100)`.
Controls: drawdown % threshold, multiplier (extra size vs. base amount), and cooldown in bars.
State & metrics: tracks total invested, total quantity, average price, equity, P\&L (abs/%).
Visuals:
Line plot of Average Price.
Buy labels at execution bars (plan and drawdown).
Compact table (positionable) with key stats (trades, invested, qty, avg price, equity, P\&L).
Alerts:
Plan Buy (Bar Close) and Drawdown Buy (Bar Close) — robust, non-repainting.
Optional Intrabar Preview alerts for early heads-up (can fire before bar close).
How to use it (quick start)
1. Add to chart → Inputs:
Buy frequency: pick Every N bars, Weekly, or Monthly.
Start time: date from which buys may begin.
Buy amount: fixed cash per planned buy.
Fees % and Fee on top? to match your broker/exchange model.
(Optional) Enable drawdown buy, set threshold %, multiplier, and cooldown.
Toggle Show buy labels and Show stats table.
2. Alerts (recommended):
Use “DCA Plan Buy (Bar Close)” and/or “DCA Drawdown Buy (Bar Close)” with Once per bar close.
If you need early signals, enable Intrabar pre-alerts and add the two Intrabar Preview alerts with Once per bar.
3. Interpretation:
The yellow line is your average price.
Green/orange markers show plan buys and drawdown buys.
The table summarizes total trades, invested capital, quantity, average price, current equity, and P\&L.
Practical notes
All executions occur at bar close by default to avoid intrabar repainting.
Weekly/monthly roll depends on the symbol’s exchange calendar.
Backtest realism: no slippage, no partial fills. Fees are modeled as configured.
If you buy very frequently, consider higher “N” or weekly/monthly to keep fees under control.
If you want, I can tailor the defaults (amount, fee model, drawdown rules) to your typical markets and timeframes.
Disclaimer
No indicator guarantees profits. DCA Anchor (Weekly/Monthly/N Bars) is a decision aid; always combine with solid risk management and your own judgment. Backtest, forward test, and size responsibly.
The content provided, including all code and materials, is strictly for educational and informational purposes only. It is not intended as, and should not be interpreted as, financial advice, a recommendation to buy or sell any financial instrument, or an offer of any financial product or service. All strategies, tools, and examples discussed are provided for illustrative purposes to demonstrate coding techniques and the functionality of Pine Script within a trading context.
Any results from strategies or tools provided are hypothetical, and past performance is not indicative of future results. Trading and investing involve high risk, including the potential loss of principal, and may not be suitable for all individuals. Before making any trading decisions, please consult with a qualified financial professional to understand the risks involved.
By using this script, you acknowledge and agree that any trading decisions are made solely at your discretion and risk.
Enhance your trading precision and confidence 🚀
Best regards
Chervolino
Emre AOI Zonen Daily & Weekly (mit Alerts, max 60 Pips)This TradingView indicator automatically highlights Areas of Interest (AOI) for Forex or other markets on Daily and Weekly timeframes. It identifies zones based on the high and low of the previous period, but only includes zones with a width of 60 pips or less.
Features:
Daily AOI Zones in blue, Weekly AOI Zones in yellow with 20% opacity, so candlesticks remain visible.
Persistent zones: AOI boxes stay on the chart until the price breaks the zone.
Multiple zones: Supports storing multiple Daily and Weekly AOIs simultaneously.
Break Alerts: Sends alerts whenever a Daily or Weekly AOI is broken, helping traders spot key levels in real-time.
Fully automated: No manual drawing needed; zones are updated and extended automatically.
Use Case:
Ideal for traders using a top-down approach, combining Weekly trend analysis with Daily entry signals. Helps identify support/resistance, supply/demand zones, and critical price levels efficiently.
All Weekly Opens + Week LabelThis script plots every Weekly Open (WO) across the entire chart, making it easy for traders to backtest how price reacts to weekly opens historically.
Each weekly open is drawn as a horizontal line and labeled with the month abbreviation and the week number of that month (e.g., WO Aug-4). This allows traders to quickly identify where each weekly session started and analyze market behavior around these key reference levels.
How it works
The script detects the first bar of each new week and records its opening price.
A horizontal line is drawn at that price, extending to the right.
An optional label shows the week name in the format Month-WeekNumber.
Traders can enable or disable labels, change line colors, line width, and optionally display the opening price in the label.
A new input allows filtering to show only the last N months of Weekly Opens. By default, all weekly opens are displayed, but traders can limit the chart to just the most recent ones for a cleaner view.
Why it’s useful
Weekly opens are often respected levels in both intraday and swing trading. They provide natural reference points for:
Backtesting market reactions to session opens.
Identifying areas of support/resistance around weekly levels.
Aligning trade entries and exits with higher-timeframe context.
Simplifying charts by focusing only on the most relevant recent weeks.
Notes
This indicator is not a trading signal generator.
It should be used as a contextual tool for analysis, helping traders improve risk management and entry precision.
Works on all symbols and timeframes.
The “last N months” filter is optional; setting it to 0 will plot all Weekly Opens available in the chart’s history.
Dynamic 50% Line [Daily and Weekly Range]This indicator automatically plots the 50% retracement level (midpoint) of the daily and weekly trading ranges. It helps traders identify key support/resistance zones where price may react, offering insights into potential reversal or continuation areas.
Auction Market Theory & the 50% Level
At its core, this indicator is built on Auction Market Theory (AMT), which views price movement as an ongoing auction process where buyers and sellers compete to establish value. The 50% midpoint represents fair value—the equilibrium where price is most likely to balance before continuing its trend or reversing.
When price deviates too far from this level, it often returns to balance (mean reversion) or accepts new value (breakout). By tracking the daily and weekly 50% lines, traders can:
Identify high-probability reversal zones (where price may reject fair value).
Spot trend continuation areas (where price accepts higher/lower value).
Align with institutional order flow, as large players often use these levels for execution.
This makes the indicator particularly powerful for traders who follow volume profile, order flow, or ICT concepts, as it visually maps the market’s ongoing auction process.
Features:
✅ Automated Daily & Weekly Midpoints – Calculates the 50% level from the high/low of each session.
✅ Customizable Line Styles – Choose between solid, dotted, or dashed lines for better visibility.
✅ Clear Labeling – Optional text labels show "50% Level" or custom text at your preferred position (left, middle, or right).
✅ Flexible Styling – Adjust line colors, thickness, and text size to match your chart theme.
How It Works:
Daily 50% Line: Resets at 6 PM NY time (new trading day).
Weekly 50% Line: Resets on Sunday at 6 PM NY time (new trading week).
The midpoint is calculated as:
(High + Low) / 2
Lines extend 500 bars forward for easy visibility.
Why Use This Indicator?
Unlike static Fibonacci tools, this dynamic indicator auto-updates the 50% level as new highs/lows form, saving time and improving accuracy. Whether you trade forex, stocks, or crypto, these levels often act as strong magnets for price action.
Previous VWAP Levels by Riotwolftrading The "Previous VWAP" indicator calculates and displays the previous session's Volume Weighted Average Price (VWAP) for five timeframes (Daily, Weekly, Monthly, Quarterly, Yearly).
Each VWAP is plotted as a horizontal line extending to the right edge of the chart, with customizable labels at the right to identify each level. The indicator is designed for traders who want to visualize key price levels from prior periods without cluttering the chart with current VWAPs or additional metrics like standard deviations.
**Functionality**:
- **Calculates Previous VWAPs**: Computes the VWAP for the previous session of each timeframe (Daily, Weekly, Monthly, Quarterly, Yearly) based on the input source (default: `hlc3`) and volume.
- **Visual Style** : Uses `line.new` to draw horizontal lines from five bars back to the current bar, ensuring the lines extend to the right edge of the chart. Labels are placed at the right edge using `label.new` for clear identification.
- **Customization** : Allows users to toggle visibility, adjust line styles, widths, colors, and label sizes, and choose between abbreviated or full label text.
- **Minimalist Design**: Focuses solely on previous VWAPs, omitting current VWAPs, rolling VWAPs, and standard deviation bands to keep the chart clean.
**Intended Use**: This indicator is useful for traders who rely on historical VWAP levels as support/resistance or reference points for trading decisions, particularly in strategies involving mean reversion or breakout trading.
---
### Rules and Features
*VWAP Calculation**:
- The VWAP is calculated as the cumulative sum of price (`src`) multiplied by volume (`sumSrcVol`) divided by the cumulative volume (`sumVol`) for each timeframe.
- The "previous VWAP" is the VWAP value from the prior session, captured when a new session begins (e.g., new day, week, month, etc.).
- The indicator uses the `hlc3` (average of high, low, close) as the default source, but users can modify this in the settings.
**Timeframes**:
- **Daily**: Previous day's VWAP.
- **Weekly**: Previous week's VWAP.
- **Monthly**: Previous month's VWAP.
- **Quarterly**: Previous quarter's VWAP (3 months).
- **Yearly**: Previous year's VWAP (12 months).
- New sessions are detected using `ta.change(time(period))` for each timeframe.
**Line Drawing**:
- Lines are drawn using `line.new` from `time ` (five bars back) to the current bar (`time`), ensuring they extend to the right edge of the chart.
- Lines are updated only on the last confirmed bar (`barstate.islast`) to optimize performance and avoid repainting.
- Previous lines are deleted (`line.delete`) to prevent overlapping or clutter.
**Labels**:
- Labels are drawn at the right edge (`x=time`, `xloc=xloc.bar_time`) with `label.new`.
- Users can choose between abbreviated labels (e.g., "pvD" for Previous Daily VWAP) or full labels (e.g., "Prev Daily VWAP").
- Label sizes are customizable (`tiny`, `small`, `normal`, `large`, `huge`).
- Labels are deleted (`label.delete`) on each update to maintain a clean chart.
5. **Customization Options**:
- **Visibility**: Toggle each VWAP (Daily, Weekly, Monthly, Quarterly, Yearly) on or off.
- **Colors**: Individual color settings for each VWAP line and label (default colors: Daily=#E12D7B, Weekly=#F67B52, Monthly=#EDCD3B, Quarterly=#3BBC54, Yearly=#2665BD).
- **Line Style**: Choose from `solid`, `dotted`, or `dashed` lines.
- **Line Width**: Adjustable from 1 to 4 pixels.
- **Label Settings**: Enable/disable labels, abbreviate text, and select label size.
- **Source**: Customize the price source (default: `hlc3`).
**Performance Optimization**:
- The indicator only updates lines and labels on the last confirmed bar to minimize computational overhead.
- Uses `var` to initialize variables and avoid unnecessary recalculations.
- Deletes previous lines and labels to prevent chart clutter.
---
### Usage Instructions
1. **Add to Chart**:
- In TradingView, go to the Pine Editor, paste the script, and click "Add to Chart."
- The indicator will overlay on the price chart, showing previous VWAP lines and labels.
2. **Configure Settings**:
- Open the indicator settings to customize:
- Toggle visibility of each VWAP timeframe.
- Adjust colors, line style, and width.
- Enable/disable labels, choose abbreviation, and set label size.
- Modify the source if needed (e.g., use `close` instead of `hlc3`).
3. **Interpretation**:
- **Previous VWAPs**: Act as dynamic support/resistance levels based on the prior session's volume-weighted price.
- **Timeframes**: Use shorter timeframes (Daily, Weekly) for intraday/swing trading, and longer timeframes (Monthly, Quarterly, Yearly) for positional trading.
- **Labels**: Identify each VWAP level at the right edge of the chart for quick reference.
4. **Best Practices**:
- Use on charts with sufficient volume data, as VWAP relies on volume (a warning is triggered if no volume data is available).
- Combine with other indicators (e.g., moving averages, RSI) for confirmation in trading strategies.
- Adjust line styles and colors to avoid visual overlap with other chart elements.
---
### Example Use Case
A trader using a 1-hour chart can add the "Previous VWAP" indicator to identify key levels from the prior day, week, or month. For example:
- The Previous Daily VWAP might act as a support level for a bullish trend.
- The Previous Weekly VWAP could serve as a target for a swing trade.
- Labels at the right edge make it easy to identify these levels without cluttering the chart.
This indicator provides a clean, customizable way to visualize previous VWAPs, making it ideal for traders who want historical price context with minimal chart noise. For the complete Pine Script code, refer to the artifact provided in the previous response.
ACD Weekly🔷 ACD Weekly — Discover Weekly Ranges with Market Precision 🔷
Understanding where key levels lie at the beginning of the week can unlock powerful insights into market structure, breakout potential, and directional conviction.
The ACD Weekly indicator is designed to help you identify these levels with clarity and consistency.
🚀 What It Does
The ACD Weekly plots dynamic levels based on Monday’s price action and weekly volatility. These levels are useful for:
Identifying potential breakout and breakdown zones
Understanding market range expansions
Creating clean, repeatable weekly trade setups
Without diving into the formula, this tool uses the weekly opening range and historical volatility to highlight zones where institutional accumulation, distribution, or trending moves are more likely to initiate.
📌 How to Use It
Apply the script to any chart and timeframe – best viewed on intraday timeframes.
Observe the green and red lines that appear every Monday — they mark the reference high/low for the week.
The yellow zones extending above and below act as targets and thresholds — price movement into or beyond these areas can signal trend continuation or potential reversal zones.
Use it in combination with your own system — price action, volume, or momentum tools — to confirm entries/exits.
🧠 Who Is It For?
Intraday and swing traders who want clarity at the start of the week
Traders who use breakout or range strategies
Those who want structure without clutter
⚙️ Features
Customizable opening range multiplier
Choose your higher timeframe (daily/weekly)
Optional real-time or historical plotting with Lookahead mode
Add this to your chart and let the structure guide your setups throughout the week.
Happy trading! 📈
Disclaimer:
This is an educational idea, past performance does not guarantee future success.
All outputs will be your own responsibility.
Regards!
Daily & Weekly False-Breakout DetectorDaily & Weekly Lines
We retrieve previous day/week’s High and Low.
lookahead=barmerge.lookahead_on means we see the “final” daily/weekly bar values intraday, so it may repaint in real‐time.
False Breakout Logic
Intraday crosses of close above the previous high (PDH or PWH).
By the end of the daily/weekly bar, close is back below that high.
Similarly for false breakdowns below PDL or PWL.
Shape/Alert
Each time an intraday bar crosses up or down, if the final daily/weekly close reverts back inside the prior range, a label is drawn and an alert is triggered.
Because we are “peeking” at the daily/weekly close, these signals can appear or disappear in real‐time.
If you only want a confirmed signal after the period’s close, switch to lookahead_off, which will finalize them at the next day or next week.
ROBO STB Custom Weekly Candle (Fri-Thu)Description:
This indicator creates custom weekly candles that start on Friday and end on Thursday, instead of the standard Monday–Friday weekly structure in TradingView. It aggregates the open, high, low, and close (OHLC) values from Friday to Thursday and displays them as candlesticks on the chart.
Features:
✅ Custom weekly candles from Friday to Thursday
✅ Dynamic calculation of open, high, low, and close
✅ Works on any timeframe
✅ Helps traders analyze market structure differently
How It Works:
Identifies the custom weekly session based on Friday's start and Thursday's end.
Aggregates OHLC values within this time range.
Resets the values when a new custom week begins.
Plots the calculated weekly candles on the chart.
Use Case:
This indicator is useful for traders who prefer to analyze weekly price movements based on a non-standard start and end day, especially those focusing on forex, crypto, or commodities where trading hours differ.
Notes:
This script does not modify existing candles but overlays new custom weekly candles on the chart.
It does not repaint and updates in real-time.
If you find this useful, like and share! 🚀
Multi-Timeframe Liquidity LevelsMulti-Timeframe Liquidity Levels – Overview
The Multi-Timeframe Liquidity Levels indicator automatically displays significant highs and lows from various timeframes (Daily, Weekly, Monthly, and Quarterly) on your current chart. This allows traders to quickly identify potential support and resistance zones without frequently switching between different timeframe charts. Additionally, the script offers extra lines for special reference points (e.g., the “Midnight” midpoint of the current day and the previous day’s open/close) to highlight potential liquidity zones even more clearly.
1. Core Idea and Benefits
Time-Saving: Instead of manually reviewing charts in different timeframes, the indicator fetches relevant high/low levels automatically and shows them on your active timeframe.
Clear Layout: Traders instantly see where the Daily, Weekly, Monthly, and Quarterly highs and lows lie—areas often associated with institutional orders or liquidity hunts.
Customizable: You can tailor the color scheme, line style (Solid, Dashed, Dotted), and line width, ensuring the displayed levels fit your personal charting style.
2. How It Works
Multi-Timeframe High/Low
For each timeframe (Day, Week, Month, Quarter), the indicator references the previous candle’s high and low (high , low ).
Using request.security(...), these values are plotted on the chart you’re currently viewing.
Flexible Display
You can individually enable or disable the Daily, Weekly, Monthly, and Quarterly lines, depending on which levels are most relevant to your trading.
With Line Style (Solid, Dashed, Dotted) and Line Width, you can easily emphasize certain lines you consider more important.
Additional Lines
“Midnight” Line: A theoretical midpoint between today’s high and low, which can be useful for gauging daily pivot areas.
Previous Day’s Open/Close: Many traders track these reference points to anticipate market reactions. You can show or hide these lines as desired.
Automatic Line Removal & Creation
When a particular timeframe (e.g., “Show Monthly Levels”) is disabled, the script automatically removes the existing monthly lines.
Enabling it again recreates those lines without hassle.
3. Usage and Interpretation
Identifying Support and Resistance
Highs and lows from higher timeframes are often key zones for entries, exits, or major market reactions.
A Daily level may be crucial for short-term traders, whereas Monthly or Quarterly levels can indicate long-term liquidity areas.
Spotting Market Shifts
If price decisively moves above a Higher-Timeframe line, it could signal strong momentum.
Conversely, a failed breakout (where price quickly returns under or above a level) might warn of a potential reversal.
Extra Lines as Filters
The “Midnight” Line helps visualize a rough central price for the current day, aiding in intraday directional bias.
Previous Day’s Open/Close: Common reference points for day traders, where swift approaches and rejections can indicate potential entries or partial take-profit zones.
4. Practical Tips
Use Color-Coding Wisely: Assign distinct colors (e.g., Blue for Daily, Green for Weekly, Orange for Monthly, Purple for Quarterly) so you can easily discern which timeframe you’re looking at.
Toggle On/Off As Needed: Day traders might focus on Daily and Weekly, while long-term traders may pay closer attention to Monthly and Quarterly.
Combine with Price Action: Lines alone don’t constitute a trading strategy. Use them alongside candlestick patterns, volume analysis, or other indicators for a more complete market perspective.
5. Important Notes & Recommendations
Not Financial Advice: This indicator simply reflects historical high/low data across multiple timeframes and does not constitute a buy or sell recommendation.
Trader Responsibility: Observe how the market actually behaves around these lines and adapt your risk management accordingly.
(Early Test) Weekly Seasonality with Dynamic Kelly Criterion# Enhancing Trading Strategies with the Weekly Seasonality Dynamic Kelly Criterion Indicator
Amidst this pursuit to chase price, a common pitfall emerges: an overemphasis on price movements without adequate attention to risk management, probabilistic analysis, and strategic position sizing. To address these challenges, I developed the **Weekly Seasonality with Dynamic Kelly Criterion Indicator**. It is designed to refocus traders on essential aspects of trading, such as risk management and probabilistic returns, thereby catering to both short-term swing traders and long-term investors aiming for tax-efficient positions.
## The Motivation Behind the Indicator
### Overemphasis on Price: A Common Trading Pitfall
Many traders concentrate heavily on price charts and technical indicators, often neglecting the underlying principles of risk management and probabilistic analysis. This overemphasis on price can lead to:
- **Overtrading:** Making frequent trades based solely on price movements without considering the associated risks.
- **Poor Risk Management:** Failing to set appropriate stop-loss levels or position sizes, increasing the potential for significant losses.
- **Emotional Trading:** Letting emotions drive trading decisions rather than objective analysis, which can result in impulsive and irrational trades.
### The Need for Balanced Focus
To achieve sustained trading success, it is crucial to balance price analysis with robust risk management and probabilistic strategies. Key areas of focus include:
1. **Risk Management:** Implementing strategies to protect capital, such as setting stop-loss orders and determining appropriate position sizes based on risk tolerance.
2. **Probabilistic Analysis:** Assessing the likelihood of various market outcomes to make informed trading decisions.
3. **Swing Trading Percent Returns:** Capitalizing on short- to medium-term price movements by buying assets below their average return and selling them above.
## Introducing the Weekly Seasonality with Dynamic Kelly Criterion Indicator
The **Weekly Seasonality with Dynamic Kelly Criterion Indicator** is designed to integrate these essential elements into a comprehensive tool that aids traders in making informed, risk-aware decisions. Below, we explore the key components and functionalities of this indicator.
### Key Components of the Indicator
1. **Average Return (%)**
- **Definition:** The mean percentage return for each week across multiple years.
- **Purpose:** Serves as a benchmark to identify weeks with above or below-average performance, guiding buy and sell decisions.
2. **Positive Percentage (%)**
- **Definition:** The proportion of weeks that yielded positive returns.
- **Purpose:** Indicates the consistency of positive returns, helping traders gauge the reliability of certain weeks for trading.
3. **Volatility (%)**
- **Definition:** The standard deviation of weekly returns.
- **Purpose:** Measures the variability of returns, providing insights into the risk associated with trading during specific weeks.
4. **Kelly Ratio**
- **Definition:** A mathematical formula used to determine the optimal size of a series of bets to maximize the logarithmic growth of capital.
- **Purpose:** Balances potential returns against risks, guiding traders on the appropriate position size to take.
5. **Adjusted Kelly Fraction**
- **Definition:** The Kelly Ratio adjusted based on user-defined risk tolerance and external factors like Federal Reserve (Fed) stance.
- **Purpose:** Personalizes the Kelly Criterion to align with individual risk preferences and market conditions, enhancing risk management.
6. **Position Size ($)**
- **Definition:** The calculated amount to invest based on the Adjusted Kelly Fraction.
- **Purpose:** Ensures that position sizes are aligned with risk management strategies, preventing overexposure to any single trade.
7. **Max Drawdown (%)**
- **Definition:** The maximum observed loss from a peak to a trough of a portfolio, before a new peak is attained.
- **Purpose:** Assesses the worst-case scenario for losses, crucial for understanding potential capital erosion.
### Functionality and Benefits
- **Weekly Data Aggregation:** Aggregates weekly returns across multiple years to provide a robust statistical foundation for decision-making.
- **Quarterly Filtering:** Allows users to filter weeks based on quarters, enabling seasonality analysis and tailored strategies aligned with specific timeframes.
- **Dynamic Risk Adjustment:** Incorporates the Dynamic Kelly Criterion to adjust position sizes in real-time based on changing risk profiles and market conditions.
- **User-Friendly Visualization:** Presents all essential metrics in an organized Summary Table, facilitating quick and informed decision-making.
## The Origin of the Kelly Criterion and Addressing Its Limitations
### Understanding the Kelly Criterion
The Kelly Criterion, developed by John L. Kelly Jr. in 1956, is a formula used to determine the optimal size of a series of bets to maximize the long-term growth of capital. The formula considers both the probability of winning and the payout ratio, balancing potential returns against the risk of loss.
**Kelly Formula:**
\
Where:
- \( b \) = the net odds received on the wager ("b to 1")
- \( p \) = probability of winning
- \( q \) = probability of losing ( \( q = 1 - p \) )
### The Risk of Ruin
While the Kelly Criterion is effective in optimizing growth, it carries inherent risks:
- **Overbetting:** If the input probabilities or payout ratios are misestimated, the Kelly Criterion can suggest overly aggressive position sizes, leading to significant losses.
- **Assumption of Constant Probabilities:** The criterion assumes that probabilities remain constant, which is rarely the case in dynamic markets.
- **Ignoring External Factors:** Traditional Kelly implementations do not account for external factors such as Federal Reserve rates, margin requirements, or market volatility, which can impact risk and returns.
### Addressing Traditional Limitations
Recognizing these limitations, the **Weekly Seasonality with Dynamic Kelly Criterion Indicator** introduces enhancements to the traditional Kelly approach:
- **Incorporation of Fed Stance:** Adjusts the Kelly Fraction based on the current stance of the Federal Reserve (neutral, dovish, or hawkish), reflecting broader economic conditions that influence market behavior.
- **Margin and Leverage Considerations:** Accounts for margin rates and leverage, ensuring that position sizes remain within manageable risk parameters.
- **Dynamic Adjustments:** Continuously updates position sizes based on real-time risk assessments and probabilistic analyses, mitigating the risk of ruin associated with static Kelly implementations.
## How the Indicator Aids Traders
### For Short-Term Swing Traders
Short-term swing traders thrive on capitalizing over weekly price movements. The indicator aids them by:
- **Identifying Favorable Weeks:** Highlights weeks with above-average returns and favorable volatility, guiding entry and exit points.
- **Optimal Position Sizing:** Utilizes the Adjusted Kelly Fraction to determine the optimal amount to invest, balancing potential returns with risk exposure.
- **Probabilistic Insights:** Provides metrics like Positive Percentage (%) and Kelly Ratio to assess the likelihood of favorable outcomes, enhancing decision-making.
### For Long-Term Tax-Free Investors
This is effectively a drop-in replacement for DCA which uses fixed position size that doesn't change based on market conditions, as a result, it's like catching multiple falling knifes by the blade and smiling with blood on your hand... I don't know about you, but I'd rather juggle by the hilt and look like an actual professional...
Long-term investors, especially those seeking tax-free positions (e.g., through retirement accounts), benefit from:
- **Consistent Risk Management:** Ensures that position sizes are aligned with long-term capital preservation strategies.
- **Seasonality Analysis:** Allows for strategic positioning based on historical performance trends across different weeks and quarters.
- **Dynamic Adjustments:** Adapts to changing market conditions, maintaining optimal risk profiles over extended investment horizons.
### Developers
Please double check the logic and functionality because I think there are a few issue and I need to crowd source solutions and be responsible about the code I publish. If you have corrections, please DM me or leave a respectful comment.
I want to publish this by the end of the year and include other things like highlighting triple witching weeks, adding columns for volume % stats, VaR and CVaR, alpha, beta (to see the seasonal alpha and beta based off a benchmark ticker and risk free rate ticker and other little goodies.
