[blackcat] L3 Bias ScalperLevel: 3
Background
Bias alone is a powerful tool for trading. I use SMA3, SMA10, SMA20, SMA30 to cover short and middle term of the trend for scalping. Multiple biases can be introduced for long and short entries.
Function
Use SMAs and biases for scalping with whale move alert (banker fund flow detection)
Key Signal
buy --> entry signal for long
strongbuy --> entry signal for long
add --> buy more or re-entry signal for long
reduce --> partial exit for long
exit --> complete exit for long
sell --> short entry signal
whalemove --> banker fund move detection
Pros and Cons
This script provides entry signal together with whale detection by bias algorithms, you can use whale move to predict next move of trend in large time frame. However, trading signal should be further filtered out for more precise entry signal.
Remarks
At beginning, I want to make it simple and it looks very complex at the end...
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Bias
[blackcat] L2 Composite SMA and BIAS ScalperLevel: 2
Background
A simple moving average (SMA) calculates the average of a selected price range, usually closing prices, based on the number of periods in that range. A simple moving average is a technical indicator that can be used to determine whether an asset price is holding a bull, a bear, or is reversing.
The bias shows the moving average rate of deviation. Also known as the rate of deviation, or y-value for short, is an indicator that reflects the degree of deviation between the price and the SMA over a given period by calculating the percentage difference between the market index or the closing price and a moving average to allow for receive that the price reverses or recovers due to a deviation from the moving average trend with strong fluctuations and the price moves within the normal fluctuation range Build credibility to continue the original potential.
Function
L2 Composite SMA and BIAS Scalper is mainly based on a cluster of simple moving averages and their bias values to produce long and short entry points. Three different strategy to generate long and short entries are demostrated together. That is why this is called "Composite".
Key Signal
botsig --> indicating bottom zone
topsig --> indicating top zone
buysigI --> long entry type I
buysigII --> long entry type II
buysigIII --> long entry type III
selsigI --> short entry type I
selsigII --> short entry type II
selsigIII --> short entry type III
Pros and Cons
Pros:
1. common sma(), rsi() and bias() are utizlied to generate exact long and short entries
2. alerts for bottom and top zones
Cons:
1. SMA parameters may need optimization for specific trading pairs
2. No stop loss or take profit scheme is introduced.
Remarks
This is promising but need efforts to refine it.
Readme
In real life, I am a prolific inventor. I have successfully applied for more than 60 international and regional patents in the past 12 years. But in the past two years or so, I have tried to transfer my creativity to the development of trading strategies. Tradingview is the ideal platform for me. I am selecting and contributing some of the hundreds of scripts to publish in Tradingview community. Welcome everyone to interact with me to discuss these interesting pine scripts.
The scripts posted are categorized into 5 levels according to my efforts or manhours put into these works.
Level 1 : interesting script snippets or distinctive improvement from classic indicators or strategy. Level 1 scripts can usually appear in more complex indicators as a function module or element.
Level 2 : composite indicator/strategy. By selecting or combining several independent or dependent functions or sub indicators in proper way, the composite script exhibits a resonance phenomenon which can filter out noise or fake trading signal to enhance trading confidence level.
Level 3 : comprehensive indicator/strategy. They are simple trading systems based on my strategies. They are commonly containing several or all of entry signal, close signal, stop loss, take profit, re-entry, risk management, and position sizing techniques. Even some interesting fundamental and mass psychological aspects are incorporated.
Level 4 : script snippets or functions that do not disclose source code. Interesting element that can reveal market laws and work as raw material for indicators and strategies. If you find Level 1~2 scripts are helpful, Level 4 is a private version that took me far more efforts to develop.
Level 5 : indicator/strategy that do not disclose source code. private version of Level 3 script with my accumulated script processing skills or a large number of custom functions. I had a private function library built in past two years. Level 5 scripts use many of them to achieve private trading strategy.
Trends & RangesTrends & Ranges uses EMA ATR bands as a SuperTrend indicator.
How to use:
This indicator can be used to give you a direction bias, with the added function to create ranges which often lead to reversals or flat trading periods. Trade the break-out or wait for pull backs in the direction of the trend.
I'm not great at explaining stuff and will probably make things only more complicated, so I won't bother for now,
but if you have a question on how the script works I will gladly give it a try.
The option "Flexible Trends" will disable the min/max function (trailing or non trailing).
Flexible Trends enabled:
Flexible Trends disabled:
Settings are not optimized for any asset or time frame, you will have to do that for yourself. Feel free to share them in the comments.
Thanks for showing interest, enjoy and good luck! :)
Separated Moving Average [2] - evoThis is an updated version on one of my previous scripts. Small explanation in the description.
This new script gives you a direction bias based on closing above and below the lines, with an option to filter fake signals by waiting for one more candle close.
Also added more moving averages compared to the first script (built ins + donchian)
Hope you like it!
(If you're a coder with a slightly larger brain than me, please tell me in the comments if I fixed the repainting problem correctly, I'm not 100% sure..)
Basic BIASBasic BIAS
Deviation rate (bias), also known as deviation rate, or y-value for short, is an indicator to reflect the deviation degree between the price and MA in a certain period of time by calculating the percentage difference between the market index or closing price and a moving average, so as to obtain the possibility that the price will reverse or rebound due to deviation from moving average trend in case of severe fluctuation, and that the price will move within the normal fluctuation range Form the credibility of continuing the original potential.
The deviation rate is a percentage of the deviation degree (gap rate) between the price and ma.
The departure rate curve (bias) is a curve that connects the values of each bias into a line and obtains a wave extension curve with the value of 0 as the horizontal axis.
[LunaOwl] Moving average Bias Ratio作品: 均線乖離率 (Moving average Bias Ratio)
The concept of Moving average Bias Ratio is according to the difference between the long/short-term MA changes, determine the direction of buy or sell. Long if the short-term MAs is above the long-term MAs; Conversely, if the short-term MAs is below the long-term MAs, it is not held.
均線乖離率的概念，是根據長短期均線變化之間的乖離來確定多空方向。如果短期高於長期，則買進；相反的～如果短期低於長期，則空手。
Using the deviation rate alone will have the disadvantage of unclear signals, which can only explain the increased chance of market reversal. It needs to cooperate with the rule of thumb and other analytical tools.
單獨使用乖離率會有信號不明確的缺點，只能解釋市場發生反轉的機會增加，需要配合經驗法則和其他分析工具。
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Formula - 公式
Avg. BIAS = ( MA(short) - MA(long) ) ÷ MA(long) × 100 %
均線乖離率 ＝（短期平均－長期平均） ÷ 長期平均 × 100 %
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The greater the distance between the two moving averages, the greater the Bias Ratio.
Zahorchak MeasureCreator: Michael G. Zahorchak.
References:
The Art of Low Risk Investing by Michael G. Zahorchak, 1977. Unfortunately, it's all but impossible to find a copy these days.
The Complete Guide to Market Breadth Indicators by Gregory L. Morris, 2006. A fantastic resource for those interested in Technical Analysis or creating their own trend based system.
Two articles by Greg Morris on the Zahorchak Measure. I can't link to them under the House Rules, but they are easily searchable.
The Zahorchak Measure (ZM) is designed to give you a market bias (either uptrend or downtrend) which you can use to determine a trade bias for ETF's or stocks.
ZM works by taking multiple moving averages of the NYSE Composite, a moving average of the NYSE advance decline line, and examining the relationship between those elements. Broadly, the market is considered to be in a uptrend when ZM is above zero, and a downtrend when below. However, there are many ways to interpret the indicator.
The version created by Greg Morris is more akin to a binary indicator in that ZM jumps from number to number. This version is smoothed to create an oscillator as it reduces whipsaws (at the expense of lag). You can set the EMA Length to 1 to go back to the original.
Some notes:
Michael Zahorchak called it the "Zahorchak Method", whereas Greg Morris uses the term "Measure". I'm not totally clear on the change, but Mr. Morris made some changes (covered below), so that may explain the altered name.
The original indicator used moving averages of 5, 15, and 40 weeks. I have converted these to daily numbers as that's the time frame I most commonly trade. You can convert the numbers back by dividing by 5.
The original indicator used the Dow Industrials for the moving averages, however Greg Morris switched to the NYSE Composite due to the advance decline line being based on the NYSE.
Greg Morris removed the 5 period moving average of the NYSE Composite, as it created increased volatility at market tops and bottoms. I tested ZM with the 5 period MA added back in, and I believe removing it creates a superior indicator.
I've added both Multi Time Frame functionality, and the ability to alter moving average lengths. Play around and see what you can come up with.
ZM oscillates between -10 and +10. There are some interesting levels creating between these two numbers (apart from the obvious zero level) - see what you can come up with.
All credit goes to Michael Zahorchak and Greg Morris for the indicator creation. I have simply reproduced their work for the TradingView community as this great indicator wasn't available.
Any queries let me know in the comments or PM me.
DD.
Bias And Sentiment Strength (BASS) Indicator by mattzabBias And Sentiment Strength (BASS) Indicator is designed to be a quick visualization as to the market strength.
Pair with Alligator, MACD, or Moving Average lines on your chart for good results.
How to use this indicator:
Blue above 0 is positive sentiment, red below 0 is negative sentiment.
If you have blue above and red below, be cautious! The Bass is telling you that we have a battle between the Bulls and the Bears!
The purple bars are your volume bias. Volume bias can be positive or negative, despite the direction of the overall trend. Positive Volume Bias along with Bullish Blue Sentiment is a great sign! Go Long! If you have Bullish Sentiment and have a negative Volume Bias, be cautious! Price may not be moving with much conviction, and may be subject to reversal!
This is basically several different histograms overlaying one another, and they are blue above 0 and red below 0.
MACD Histogram - Standard MACD Histogram here.
RSI Histogram - This is a standard RSI. It has been adjusted to "oscillate" above and below zero, which would be the 50 line on a normal RSI chart.
Slow Stochastic Histogram - This is a slow stochastic with a 21 Period K, 14 Period D, and 14 Smoothing K. The "oscillator" histogram is formed by subtracting K from D.
Awesome Oscillator - This is a standard Awesome Oscillator
Alligator Oscillator - This is formed by adding (lips + teeth) + (teeth - jaw)
Volume Bias - The Volume Bias is displayed as purple bars, and is calculated by a highly sophisticated and complex algorithmic function called subtraction. It's just the 30 Period Volume-Weighted Moving Average Minus the 30 Simple Moving Average.
Enjoy!
Fancy Moving Average [BigBitsIO]This script is for a single moving average with as many features as I can possibly fit into a single moving average. If you can think of more, or have questions regarding this script, please message me or contact me via social media.
Features:
- A single moving average (MA).
- Standard MA inputs.
- MA type.
- MA period.
- MA price.
- MA resolution (time frame).
- Visibility toggle.
- Fancy MA inputs.
- Toggle to show only candles included in the MA calculation ("Highlight inclusion") or display entire MA history.
- Toggle to show a ghost trail when Highlight inclusion is toggled on. Displays a shaded version of past MA history before the inclusion period (as seen on snapshot).
- Toggle to show forecast values for the MA.
- Other inputs related to forecasting:
- Forecast bias. (Neutral forecasts MA if the current price remains the same.)
- Forecast period.
- Forecast magnitude.
*** DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB. ***
Scripting Tutorial 7 - Triple Many Moving Averages ResolutionsThis script is for a triple moving average indicator where the user can select from different types of moving averages, price sources, lookback periods and resolutions.
Features:
- 3 Moving Averages with variable MA types, periods, price sources, resolutions and the ability to disable each individually
- Crossovers are plotted on the chart with detailed information regarding the crossover (Ex: 50 SMA crossed over 200 SMA )
- Forecasting available for all three MAs. MA values are forecasted 5 values out and plotted as if a continuation to the MA.
- Forecast bias also applies to all forecasting. Bias means we can forecast based on an anticipated bullish, bearish or neutral direction in the market.
- To understand bias, please read the source code, or if you can't read the code just send me a message on here or Twitter. Twitter should be linked to my profile.
This script is meant as an educational script with well-formatted styling, and references for specific functions.
Scripting Tutorial 6 - Triple Many Moving Averages ForecastingThis script is for a triple moving average indicator where the user can select from different types of moving averages, price sources and lookback periods.
Features:
- 3 Moving Averages with variable MA types, periods, price sources and ability to disable each individually
- Crossovers are plotted on the chart with detailed information regarding the crossover (Ex: 50 SMA crossed over 200 SMA )
- Forecasting available for all three MAs. MA values are forecasted 5 values out and plotted as if a continuation to the MA.
- Forecast bias also applies to all forecasting. Bias means we can forecast based on an anticipated bullish, bearish or neutral direction in the market.
- To understand bias, please read the source code, or if you can't read the code just send me a message on here or Twitter. Twitter should be linked on my profile.
This script is meant as an educational script with well-formatted styling, and references for specific functions.
Institutional BiasShows what we at TRI call the institutional bias, i.e. a bull bias when 9 ema is above 18 ema and a bear bias when the 9 ema is below the 18 ema.
Plots the 9 and 18 ema, and fills the background green when the institutional bias is bullish and red when it is bearish.
