The indicator discovers profitable patterns by associating Price Season of multiple time frames.
Full Name: 9 Seasons Rainbow - Multiple Time Frames Associated Price Wave Pattern Indicator This is redefined from “9 Seasons Rainbow Indicator PRO”, with clearer definition of 9 Seasons and user manual. Version: Invite-Only PRO Language: English Copyright: 2019
---------- How to use the indicator ---------- Go through the manual and related ideas underneath or follow the tutorials list. Look through the profitable patterns and related cases, wait for or set alert for specific profitable pattern.
---------- Definition: 9 Seasons ---------- A life cycle of Price Wave is divided into 9 Seasons. Each time frame, from 5 minute to 1 month, has 9 seasons, Independent of each other: Bull (Green) Bull Pullback (Light Green): a pullback or retracement Resistance / Overbought (Yellow): a resistance area, may become a Top, or be broken through. Crazy Bought (Lime): Price is going up in a high volatility, could be a valid breakout, or a Bull Trap.
Neutral (White): a wandering season without direction, evolves into Bull or Bear
Bear (Red) Bear Bounce (Light Red): Price bounces Support / Oversold (Blue): a support area, may become a Bottom, or be broken through. Crazy Sold (Fuchsia): Price is going down in a high volatility, could be a valid breakdown, or a Bear Trap.
---------- Some important evolution between seasons ----------
Resistance / Overbought (Yellow) -> Crazy Bought (Lime): Bull is breaking through a resistance.
Crazy Bought (Lime) -> Resistance / Overbought (Yellow): This normally indicates a failed breakout, Price goes back to the resistance.
Crazy Bought (Lime) -> Bull Pullback (Light Green): This normally indicates Price has risen to a new level
Support / Oversold (Blue) -> Crazy Sold (Fuchsia): Bear is breaking through a support.
Crazy Sold (Fuchsia) -> Support / Oversold (Blue): This normally indicates a failed breakdown, Price recovers to the support.
Crazy Sold (Fuchsia) -> Bear Bounce (Light Red): This normally indicates price has dropped to a new level
---------- Rainbow Ribbons for Multiple Time Frames ---------- Each ribbon of a rainbow represents a time frame. The uppermost ribbon represents the shortest-term time frame - current time period of the chart, which is the time frame for trading. The lowermost ribbon represent longest-term time frame, which work as environment, together with the other medium-term and long-term time frames. The difference between two frames is 1.4142 fold (square root of 2), if level 1 is 15 minute, level 2 is 15 minute * (square root of 2) . Examples of time frames in a rainbow: For STANDARD in 15M: 15M - 21M - 30M - 42M - 60M(1H) - 85M - 120M(2H) - 170M For PRO in 15M: 15M - 21M - 30M - 42M - 60M(1H) - 85M - 120M(2H) - 170M - 240M(4H) - 339M - 480M(8H) - 679M
---------- Trading Methods ----------
How to open a Long position? When a profitable Long pattern appears, open small position first based on signal on shortest-term time frame; after retesting and confirming the support, open 2nd position; when it breaks through the resistance, pullbacks and confirms the breakout, open 3rd position.
How to exit a Long position? Lift the Stop to a confirmed higher low, so that to take advantages of the bull run as possible.
How to open a Short position? When a profitable Short pattern appears, open small position first based on signal on shortest-term time frame; after retesting and confirming the resistance, open 2nd position; when it breaks through the support, bounces and confirms the breakdown, add 3rd position.
How to exit a Short position? Lower the Stop to a confirmed lower high, so that to take advantages of the bear run as possible.
---------- Versions Description ---------- The features may change later without advance notice.
PRO: Invite-Only, with the following advanced features: 12 Ribbons Rainbow displays 9 Seasons of 12 time frames on a chart. Advanced alert sets allows set alerts on short-term, medium-term, and long-term time frames. Capability to input different trading instrument to compare with the current ticker. Full time periods access allows apply it to broadest time periods, from 1 minute to 1 week (if history data is enough) More new features in updates.
STANDARD: Invite-Only, with the following advanced features: 8 Ribbons Rainbow displays 9 Seasons of 8 time frames on a chart. Advanced alert sets allows set alerts on upper and lower frames. Broad time periods access allows apply it to the most popular time periods, from 15 minute to 1 week (if history data is enough) More new features in updates.
DEMO: DEMO version is for trial purpose, having most of the features. It is applicable to a list of trading instruments and specific time periods (1 hour to 1 day), which may change later without advance notice.
---------- Install Invite Only: STANDARD & PRO Version----------
Ask access to STANDARD or PRO version Open the chart -> Indicators (On the Top) -> Invite-Only Scripts (2nd button of the left bar) Like/Favorite the indicator Click to install on the chart
---------- About Loading Time ---------- It may take up to 2 minutes for your browser to load a new setting, depending on the your computer and network speed.
---------- Disclaimer ---------- By using or requesting access to the indicator, you acknowledge that you have read and accepted that the indicator and any related content, including but not limited to: user manual, tutorials, ideas, videos, chats, emails, blog, are for the purpose of trading strategies studying and paper trading. If a customer or user uses the indicator or related content mentioned above for live trading or investment, she/he should take all risks and be responsible for her/his own trading and investment activities.
---------- Updates ---------- The latest updates override the previous description. To activate a update: Close the browser, Reopen the chart and apply the indicator.
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Adjust ribbon width and label text color.
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Enable update notice.
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Add access function
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Improved update notice
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Minor Fix caused by timenow variable.
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Since different symbols can be displayed in Tradingview's multiple chart layout, the feature "Capability to input different trading instrument to compare with the current ticker. " is removed to speed up loading time.
Related tags: multiple timeframes, MTF, multiple time frames, multi timeframes, multi time frames
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Since different symbols can be displayed in Tradingview's multiple chart layout, the feature "Capability to input different trading instrument to compare with the current ticker. " is removed to speed up loading time. Adjust short, long term label offset. Enable more stable switch between Yellow and Lime, Blue and Fuchsia.
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New Alert functions with user-defined rainbow colors switch.
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Simplify code Monthly Update
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New Alert Functions Configuration:
Settings of the indicator: Select Time frames, the color before the trigger bar and the color of the trigger bar;