指标和策略
profit factor 1.5 great tradesgreat strategy to get a good profit factor as it involves less indicators and is a proven strategy
ATR Bands With TMThis indicator plots the Target (2.4 times ATR) and Stop Loss (1.2 times ATR) based on the 5-day ATR value for both long and short trades. If needed, you can also set indicator time frame.
Volume Multiplier Index (VMI)Этот индикатор масштабирует объемы и позволяет анализировать их через две линии, основанные на различных подходах (экспонента и логарифм), с визуализацией ключевых уровней (перекупленности, перепроданности и средней зоны).
1. Описание настроек
Линия 1: "Exponent Line"
Show Exponent Line: Включает/выключает отображение линии экспоненты.
Period for Exponent: Период для расчета скользящих максимумов и минимумов объема.
Use Exponent Multiplier: Включает/выключает применение множителя.
Exponent Multiplier: Значение степени, в которую возводится объем.
Линия 2: "Logarithm Line"
Show Logarithm Line: Включает/выключает отображение логарифмической линии.
Period for Logarithm: Период для расчета скользящих максимумов и минимумов объема.
Use Logarithm Multiplier: Включает/выключает применение логарифмического множителя.
Общие элементы
Уровни:
80: Верхняя граница, обозначающая зону перекупленности.
50: Средний уровень, зона баланса объема.
20: Нижняя граница, зона перепроданности.
Заливка фона: Показывает диапазон между уровнями 20 и 80 для наглядности.
2. Интерпретация линий
Линия 1 (Exponent):
Линия усиливает влияние крупных объемов. Используется для определения аномально высоких объемов, что может указывать на сильные движения рынка (тренд или разворот).
Пример:
Если линия резко поднимается выше уровня 80 — это сигнал о значительном увеличении объема, возможно, начало сильного тренда.
Линия вблизи 20 — снижение активности, возможна консолидация или боковое движение.
Линия 2 (Logarithm):
Линия сглаживает влияние крупных объемов, делая акцент на стабильных изменениях. Подходит для анализа общего тренда или средней рыночной активности.
Пример:
Линия выше 80 — указывает на устойчивую активность вблизи перекупленности.
Линия ниже 20 — активность снижается, сигнализируя о возможной перепроданности.
3. Как применять индикатор
Анализ зон объемов:
Используйте верхний уровень (80) для выявления зон перекупленности.
Используйте нижний уровень (20) для поиска зон перепроданности.
Средний уровень (50) помогает оценивать нормальное состояние рынка.
Совмещение линий:
Если обе линии поднимаются выше 80, это подтверждение высокой активности рынка.
Если обе линии находятся ниже 20, это подтверждение низкой активности (возможна консолидация).
Фильтрация сигналов:
Используйте линию экспоненты для поиска резких скачков объема.
Линия логарифма помогает сгладить шум и дает подтверждение для более устойчивых трендов.
Комбинация с другими индикаторами:
Индикатор эффективен в сочетании с трендовыми (например, MACD, RSI) для подтверждения сигналов.
Например, перекупленность по объему может совпадать с дивергенцией на RSI.
4. Примеры сценариев использования
Сценарий 1: Идентификация тренда
Если линия экспоненты пересекает уровень 80, а линия логарифма также приближается к этому уровню, это может быть сигналом продолжения сильного тренда.
Сценарий 2: Разворот рынка
Когда линии опускаются ниже уровня 20, а затем обе начинают подниматься вверх — возможно начало нового тренда.
Сценарий 3: Консолидация
Если линии движутся около уровня 50 и не показывают сильных отклонений, рынок, скорее всего, находится в фазе консолидации.
5. Рекомендации по интерпретации
Не использовать индикатор в одиночку — он предназначен для фильтрации сигналов.
Для анализа лучше всего подходят периоды повышенной волатильности.
Настройки периода и множителя можно подстраивать под актив, с которым вы работаете. Для более волатильных инструментов лучше увеличить период.
Этот индикатор идеально подходит для анализа активности рынка, фильтрации шумов и подтверждения сигналов в стратегиях трендового или контртрендового характера.
Indicador Marioindicador de 3 medias moviles.
Donde indica el possible retrocesso baseado em fibonacci.
Gann Secert Radio AM Receiverenjoy this masterpiece from W D Gann, It indicates clear buy and sell entries by looking at the background. Every time background changes it's a buy or sell entry
Fxj PinBar by @GeekexThis is a pin bar detector for fxj strategy
if bigger shadow of last closed candle became double of its body it shows green color and if it's not indicator shows red color
special thanks to Jalil Mehrparvar
written by trexamir
ATR BandsThis indicator plots the Target (2.4 times ATR) and Stop Loss (1.2 times ATR) based on the 5-day ATR value for both long and short trades.
Cumulative Delta AnalyzerCumulative Delta Analyzer (CDA) is a simple script designed to track changes in buying and selling volume. It highlights imbalances that can indicate shifts in market sentiment, helping traders identify potential turning points or trends.
Dynamic Risk Levels with Buy/Sell TextIntroduction
Risk management and making the right decisions while trading can be quite complex. To help you overcome these challenges, we developed the Dynamic Risk Levels and Buy/Sell Text indicator. This indicator aims to simplify your decision-making processes by combining volatility analysis, dynamic risk levels and RSI (Relative Strength Index) signals. This tool, which clearly visualizes buy/sell levels and risk zones on the chart, offers an ideal solution for investors of all levels.
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Key Features
1. ATR Based Volatility Calculation
The indicator uses the Average True Range (ATR) method to measure market volatility. Combined with Fibonacci's golden ratio (1.618), ATR creates risk levels that dynamically adapt to market conditions.
2. Determining Buy and Sell Levels
The lowest closing price during a specified period is defined as the buy level, and the highest closing price is defined as the sell level.
3. Dynamic Long and Short Risk Levels
Long (buy) risk level: Buy level + (ATR * 1.618)
Short (sell) risk level: Sell level - (ATR * 1.618)
These levels are constantly updated according to the volatility of the market.
4. Additional Filtering with RSI
RSI (Relative Strength Index) filters out false signals by identifying overbought and oversold areas.
Buy Signal: RSI < 30
Sell Signal: RSI > 70
5. Visualization of Buy/Sell Signals
On the chart:
Buy signals are indicated with a green "Buy" label.
Sell signals are marked with a red "Sell" label.
These visualizations help you make quick and easy decisions.
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Levels Shown on the Chart
1. Dynamic Risk Levels
Long Risk Level (Green Line): Indicates the safe level for buying positions.
Short Risk Level (Red Line): Indicates the safe level for selling positions.
2. Buy and Sell Levels
Buy Level (Blue Line): Indicates the long-term low closing level.
Sell Level (Orange Line): Indicates the long-term high closing level.
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How to Use?
1. Long Trading Strategy:
A "Buy" signal is generated when the price goes below the long risk level and then goes above it again and RSI < 30.
2. Short Trading Strategy:
A "Sell" signal is generated when the price goes above the short risk level and then goes below it again and RSI > 70.
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Conclusion
This indicator supports volatility-based risk management by adapting to the dynamic structure of the market and also provides reliable buy/sell signals. The Dynamic Risk Levels and Buy/Sell Text indicator is an ideal tool for investors who want to create a simple and effective trading strategy.
Using this indicator on the TradingView platform, you can make more informed decisions and better manage your risks.
Remember: No indicator is 100% accurate; always analyze market conditions carefully and pay attention to risk management.
Buyside & Sellside Liquidity and FOMO & PANİK]We Added Advanced Features to LuxAlgo’s Buy-Side and Sell-Side Liquidity Indicator
Buy-Side and Sell-Side Liquidity (Liquidity Hunt) indicators are an important tool for understanding market maker manipulations and analyzing price movements in high-volume areas. This indicator from LuxAlgo allows users to better evaluate the market’s liquidity flow. However, we have made some strategic improvements and additions to further enhance the functionality of this powerful tool.
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Features We Added to the Indicator
1. Liquidity Threshold and Analysis by Time Frames
The user can analyze liquidity movements in different time frames by determining short, medium and long-term periods.
Thanks to the Liquidity Threshold (%) parameter, long (buy) and short (sell) levels are determined according to price change rates.
Volume threshold controls are applied for each period and only high volume movements are taken into account.
2. Detection of Long and Short Liquidity Zones
Buy-Side (Long) Liquidity Zones: Long entry levels below the price are determined and reaction signals are created when the price reaches this level.
Sell-Side (Short) Liquidity Zones: Short entry levels above the price are determined and the levels are visualized on the chart.
These zones are used to detect market maker manipulations in places where liquidity traps may occur.
3. Coloring of High Volume Candles
With volume analysis, high volume candles are marked with different colors to observe the dynamics of price movements more clearly.
For example, candles exceeding volume threshold levels are highlighted with distinct colors such as white, yellow or blue.
4. Analysis of Wick and Volume-Based Long/Short Traps
Long trap and short trap traps are detected based on the length ratios of candle shadows (wick), ATR (Average True Range) and volume change.
These traps are clearly marked on the chart and supported by market psychology signals such as FOMO (fear of missing out) and Panic to the user.
5. Proximity to Liquidity Zones and Alarm Systems
We have added an algorithm that measures how close the price is to the specified liquidity zones. In this way:
Price movements that are less than 2% away from the upper liquidity zone are analyzed.
The same methodology is used for proximity to the middle liquidity zone and lower liquidity zone.
The user is warned when a long trap or short trap occurs with the alarm system.
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FOMO and Panic Algorithm
These updates include additional parameters to analyze investor psychology:
FOMO (Fear of Missing Out):
A FOMO signal is generated when the RSI level is high, the price is near the upper or middle liquidity zones, and sudden price/volume increases are seen.
This signal allows the investor to avoid making unconscious purchases.
Panic:
A panic signal is triggered when the RSI level is low, the price is near the lower or middle liquidity zones, and sudden decreases are seen.
This is designed to prevent investors from selling hastily.
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Benefits of the Developments
1. Prevention of Manipulations:
Price movements are analyzed according to liquidity zones, aiming to protect investors against market maker manipulations.
2. Stronger Strategy with Reaction Levels:
Visualization of long and short liquidity zones provides more reliable signals in trading strategies.
3. Understanding Psychological Barriers:
The impact of investor behavior on the market is better analyzed with FOMO and Panic signals.
4. Advanced Filtering Based on Volume and Volatility:
Volume and volatility analysis minimizes false signals.
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Conclusion
With these updates, LuxAlgo’s original Buy-Side & Sell-Side Liquidity indicator has been made a more powerful tool. Users can make more informed trades by identifying important levels that market makers may target. Combining multiple variables such as volume, liquidity, RSI and psychological barriers, this system provides a more robust analysis, especially in the cryptocurrency market.
Predictive Ranges [LuxAlgo] with BTC/USDT.D AnalysisIn this article, we will take a detailed look at how to customize the LuxAlgo Predictive Ranges indicator used in TradingView, how to make it more useful, and how to integrate additional functions. This indicator is a powerful analysis tool used specifically to predict movements in the BTC/USDT pair and generate buy-sell signals.
1. What is LuxAlgo Predictive Ranges?
The Predictive Ranges indicator developed by LuxAlgo predicts potential buy and sell zones based on the averages and volatility of the price over a certain period of time. This shows how much the price can fluctuate within a certain range and which zones it can move towards. Ranges usually cover two main areas, the upper and lower limits, and provide information on how the price movement will shape between these limits.
2. Extra Features and Enhancements
The above Pine Script code builds on LuxAlgo’s core Predictive Ranges functionality and adds a few important enhancements:
2.1. Comparing BTC and USDT Dominance Ranges
While the original LuxAlgo indicator only works on a specific asset, this customized version also makes predictions on the BTC/USDT pair as well as the USDT market dominance (USDT.D). This way, it is possible to understand how BTC is positioned against the general market movements.
Checking if BTC is in the Upper and Lower Zones: Buy and sell signals are generated based on whether the price of BTC is in the upper or lower zones within certain ranges.
Checking if USDT.D is in the Upper and Lower Zones: Similarly, the market dominance of USDT is also analyzed using these ranges.
The comparison between these two assets allows for more reliable signals to be generated based on market conditions. For example, when the BTC price is in the lower range and USDT.D is in the upper range, this could signal a BTC buying opportunity.
2.2. Fibonacci Levels
Fibonacci levels are widely used to predict potential retracements or bounces in price action. In this indicator, various Fibonacci levels are calculated between the prR2 and prS2 levels. This provides additional guidance for traders on where the price could retrace or bounce.
Fibonacci Levels:
13% (Fib13)
23% (Fib23)
38% (Fib38)
61% (Fib61)
70% (Fib70)
79% (Fib79)
86% (Fib86)
100% (Fib100)
These Fibonacci levels are used to predict potential support and resistance levels in price action.
2.3. RSI and Volume Analysis
RSI (Relative Strength Index) is an oscillator widely used to determine whether the price is overbought or oversold. Another important feature of this indicator is that it can analyze the strength of price movements with the RSI Period and Volume Coefficient settings. Volume analysis in particular provides additional information on whether a movement is sustainable or not. If the volume exceeds the average volume, this usually indicates that the price movement is strong.
RSI values are also calculated in different time frames (15 minutes, 30 minutes, 1 hour, 4 hours, 1 day), helping traders understand short-term and long-term market forces. In addition, the upper and lower threshold values of the RSI are determined, allowing for more clear monitoring of overbought and oversold conditions.
2.4. Indicators and Alarm Conditions on the Chart
The following features have been added to the chart regarding RSI and trend strength:
Rising Strength: The RSI value and the general condition of the price create signals that the trend is rising.
Falling Strength: Similarly, when the RSI value is low and the price is moving down, signals indicating a bearish trend are generated.
Buy and sell signals are generated only when BTC and USDT.D are in opposite zones. This ensures more accurate and reliable signals.
3. Custom Customizations for Users
This indicator can be customized according to the different analysis needs of users:
Length and Factor: Length and Mult factors are used to adjust the sensitivity of the indicator. This is important for customizing the trading strategy.
Timeframe Options: Users can analyze BTC and USDT.D in different timeframes.
RSI and Volume Settings: RSI period, upper and lower thresholds, and volume coefficient can be set by the user.
4. Alarm Conditions
Users can set the following alarm conditions to receive an alarm when certain conditions occur:
Buy Alarm: Triggered when BTC is in the buy zone and USDT.D is in the sell zone.
Sell Alert: Triggered when BTC is in the sell zone and USDT.D is in the buy zone.
Trend Strength Alerts: Rising or falling strength alerts with RSI value and volume.
Conclusion
LuxAlgo's Predictive Ranges indicator is a great way to predict market movements
PositionSizerLibrary "PositionSizer"
calcPositionSize(contractSize, pipValue, equity, riskPct, entryPrice, stopPrice)
Parameters:
contractSize (float)
pipValue (float)
equity (float)
riskPct (float)
entryPrice (float)
stopPrice (float)
Price Action BoxGeneral Purpose:
This indicator determines the swing high and swing low levels in a given period and draws supply and demand zones based on these levels. It also adds BOS (Break of Structure) signals in case these zones are broken.
Code Detailing:
1. Settings and User Inputs:
Swing High/Low Length: The period used to determine the swing high and low levels. This can be set by the user.
History To Keep: Specifies the number of supply and demand zones in the past in the indicator.
Supply/Demand Box Width: The width of the supply and demand boxes, i.e. how much width will be left according to the ATR (Average True Range).
Visual Settings: Settings for colors and labels to customize the indicator.
2. Functions:
f_array_add_pop: Adds a new value and removes the oldest value from the array. This function is used to store a certain number of data.
f_sh_sl_labels: Adds labels to swing highs and lows. These labels are labels that indicate price action, such as "HH", "HL", "LH", "LL".
f_check_overlapping: Before drawing a new demand or supply zone, it checks if it overlaps with existing zones. If there is an overlap, a new zone is not drawn.
f_supply_demand: Draws supply and demand zones. This function determines the upper and lower limits of the supply and demand levels and draws a box.
f_sd_to_bos: If the supply or demand zone is broken, it changes the zone to "BOS" (Break of Structure).
f_extend_box_endpoint: Updates the existing supply and demand boxes, extending their right borders to the next bar index.
3. Calculations:
ATR (Average True Range): Used to measure price volatility. This is the value used as the basis for determining the size of supply and demand boxes.
Swing High and Swing Low: Swing highs and lows are calculated using the highest and lowest prices over a given period.
Box Array and POI (Point of Interest): A collection of drawn supply and demand boxes and the levels of interest found within these boxes.
4. Main Calculations and Actions:
New Swing High or Swing Low Formation: If a new swing high or low is formed, these levels are recorded and demand or supply zones are drawn.
Break of Structure (BOS): If price breaks the supply or demand zone, it marks the zone as "BOS".
Extension of Boxes: Supply and demand boxes are continuously extended according to the current bar index.
Visual Features:
Supply and Demand Zones: Supply zones are drawn in red and demand zones in green. A border color is also specified around the zones.
POI Labels: A POI (Point of Interest) label is displayed in the middle of each supply and demand zone.
BOS Labels: BOS label is added above broken supply or demand zones.
Customization with User Inputs:
Show Price Action Labels: An option to set the visibility of price action labels. These labels indicate swing highs and lows.
Different Color and Size Options: Colors for supply and demand zones and colors for POI labels can be customized by the user.
Conclusion:
This Pine Script™ provides a comprehensive tool to monitor supply and demand zones in the market, identify important price levels and analyze price movements in these zones. Based on classic price action methods, it detects supply and demand zones as well as breakouts of these zones.
Supply & Demand Zone AnalyzerTradingView Publication Article: "Supply & Demand Zone Analyzer"
Title:
"Supply & Demand Zone Analyzer: Master Support and Resistance with Precision"
Introduction:
Support and resistance zones are the cornerstone of technical analysis in trading. These zones help identify where price movements may pause or reverse. The Supply & Demand Zone Analyzer is a powerful indicator designed to dynamically detect these critical areas while offering insights into potential breakouts.
In this article, we'll explore how the indicator works, its features, and how to make the most of it.
Features:
Dynamic Support and Resistance Zones:
Automatically plots supply (resistance) and demand (support) zones based on swing highs and swing lows.
Visually highlights these zones directly on your chart.
Breakout Detection:
Identifies when price breaks above a resistance zone or below a support zone.
Displays "Broken Supply" or "Broken Demand" labels for clear recognition.
Customizable Colors and Labels:
Adjust the colors of support, resistance, broken zones, and labels to match your charting style.
Add descriptive text inside the zones.
Proximity Filtering:
Prevents overlapping or closely spaced zones for a cleaner, more interpretable chart.
Fixed Text Size:
Labels inside zones maintain a consistent size, unaffected by chart zooming.
How to Use:
Add the Indicator to Your Chart:
Search for "Supply & Demand Zone Analyzer" on TradingView.
Click "Add to Chart" to enable the indicator.
Adjust Parameters:
Swing Length: Sets the number of candles used to define swing highs and lows.
ATR Period: Configures the period for ATR-based zone width calculation.
Minimum Distance: Defines the minimum distance between zones to avoid overlapping.
Show Broken Zones: Choose whether to display or hide broken support and resistance zones.
Customize Colors:
Modify the default colors for supply, demand, and broken zones in the settings.
Technical Details:
Written in Pine Script, TradingView's proprietary scripting language.
Uses ATR (Average True Range) for dynamic zone width calculation.
Automatically extends zones until they are invalidated by a breakout or removed by proximity filtering.
Who Should Use This?
Beginner Traders:
Learn and visualize critical support and resistance areas easily.
Experienced Traders:
Gain deeper insights with breakout detection and advanced filtering.
Swing and Scalping Traders:
Quickly identify high-probability reversal or breakout zones for short- and medium-term trading.
Example Chart:
(Attach a screenshot of the indicator applied to a chart.)
Conclusion:
The Supply & Demand Zone Analyzer takes the guesswork out of identifying support and resistance. With its user-friendly interface, customizable options, and breakout detection, this indicator is perfect for traders of all experience levels.
Try it out today via our TradingView page and share your feedback or suggestions. Let's master the markets together!
Extra Tips for Publication:
Include backtest results or strategy examples to showcase the indicator's utility.
Highlight practical use cases, like combining the zones with other indicators (e.g., RSI or volume).
Market Structure Break with Retest (Multi-timeframe)Introduction
Analyzing market structure breakouts (MSB) is extremely important, especially for determining trend reversal points. This Pine Script™ detects MSB points in a given time frame and visualizes potential retest zones. It also creates boxes and labels to support buy-sell decisions in these zones.
This script aims to simplify the market analysis process for both beginners and advanced users.
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Features
1. Timeframe Selection: The user can specify the timeframe he/she wants to analyze.
2. Highs and Lows: Dynamically calculates the highest and lowest prices in the specified time frame.
3. Market Structure Breakout (MSB):
"Bullish Break" when the price exceeds the previous high.
"Bearish Break" when the price falls below the previous low.
4. Retest Zones: Checks whether the price has returned to these levels after the MSB and labels these areas.
5. Visualization:
Draws boxes for breakout zones.
Marks retest points with dynamic labels.
6. Customizability: The user can customize the colors of the boxes, line thickness and analysis period.
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Areas of Use
Support and Resistance Detection: Ideal for analyzing how the price moves in important support and resistance zones.
Capturing Trend Reversals: Can be used to detect the starting points of uptrends and downtrends.
Retest Strategies: Supports trading decisions by observing the price return to these levels after the breakout.
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Code Logic
1. Highest and Lowest Prices in Timeframe:
Calculates the highest and lowest prices in the specified timeframe according to the length parameter.
2. Breakout Detection:
Check if the price has broken past the previous high or low.
3. Box and Labels:
Boxes are dynamically created after the breakout.
Labels appear in the retest zones:
4. Customization: User can easily adjust box colors, line thickness and analysis period:
Customize the analysis period and colors according to your own trading strategy.
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Conclusion
This script helps you optimize your trading strategies by visualizing market structure breakouts and retest zones. It offers a powerful analysis tool with dynamic structure and customizable settings suitable for timeframes.
Start using this tool now to develop new strategies in TradingView and make more informed trading decisions!
Dashboard MTF profile volume Indicator Description
This indicator, titled "Swing Points and Liquidity & Profile Volume," combines multiple features to provide a comprehensive market analysis:
Volume Profile: Displays buy and sell volumes across multiple timeframes (1 minute, 5 minutes, 15 minutes, 1 hour, 4 hours, 1 day).
Volume Moving Averages: Plots two moving averages (short and long) to analyze volume trends.
Dashboard: A summary dashboard shows buy and sell volumes for each timeframe, with distinct colors for better visualization.
Swing Points: Identifies liquidity levels and swing points to help pinpoint key entry and exit zones.
How to Use
1. Indicator Installation
Go to TradingView.
Open the Pine Script Editor.
Copy and paste the provided code.
Click on "Add to Chart."
2. Indicator Settings
The indicator offers several customizable parameters:
Display Volume (1 minute, 5 minutes, 15 minutes, 1 hour, 4 hours, 1 day): Enable or disable volume display for each timeframe.
Short Moving Average Length (MA): Set the short moving average period (default: 5).
Long Moving Average Length (MA): Set the long moving average period (default: 14).
Dashboard Position: Choose where to display the dashboard (bottom-right, bottom-left, top-right, top-left).
Text Color: Customize the text color in the dashboard.
Text Size: Choose text size (small, normal, large).
3. Using the Indicator
Volume Analysis
The dashboard displays buy (Buy Volume) and sell (Sell Volume) volumes for each timeframe.
Buy Volume: Volume of trades where the closing price is higher than the opening price (aggressive buying).
Sell Volume: Volume of trades where the closing price is equal to or lower than the opening price (aggressive selling).
Volumes are displayed in real-time and update with each new candle.
Volume Moving Averages
Two moving averages are plotted on the chart:
MA Volume (Short): Short moving average (blue) to identify short-term volume trends.
MA Volume (Long): Long moving average (red) to identify long-term volume trends.
Use these moving averages to spot accumulation or distribution periods.
Swing Points and Liquidity
Swing points are identified based on price levels where volumes are highest.
These levels can act as support/resistance zones or liquidity areas to plan entries and exits.
Usage Guidelines
1. Entering a Position
Buy (Long):
When Buy Volume is significantly higher than Sell Volume across multiple timeframes.
When the short moving average (blue) crosses above the long moving average (red).
Sell (Short):
When Sell Volume is significantly higher than Buy Volume across multiple timeframes.
When the short moving average (blue) crosses below the long moving average (red).
2. Exiting a Position
Use liquidity levels (swing points) to set profit targets or stop-loss levels.
Monitor volume changes to anticipate trend reversals.
3. Risk Management
Use stop-loss orders to limit losses.
Avoid trading during low-volume periods to reduce false signals.
Compliance with Trading View Guidelines
Intellectual Property:
The code is provided for educational and personal use. You may modify and use it but cannot resell or distribute it as your own work.
Responsible Use:
Trading View encourages responsible use of indicators. Test the indicator on a demo account before using it in live trading.
Transparency:
The code is fully transparent and can be reviewed in the Pine Script Editor. You may modify it to suit your needs.
Practical Examples
Scenario 1: Bullish Trend
Buy Volume is high on 1-hour and 4-hour time frames.
The short moving average (blue) is above the long moving average (red).
Action: Open a long position (Buy) and set a stop-loss below the last swing low.
Scenario 2: Bearish Trend
Sell Volume is high on 1-hour and 4-hour time frames.
The short moving average (blue) is below the long moving average (red).
Action: Open a short position (Sell) and set a stop-loss above the last swing high.
Renko Chart EmulationRenko charts are a popular tool in technical analysis, known for their ability to filter out market noise and focus purely on price movements. Unlike traditional candlestick or bar charts, Renko charts are not time-based but are constructed using bricks that represent a fixed price movement. This makes them particularly useful for identifying trends and key levels of support and resistance. While Renko charts are commonly found on platforms with specialized charting capabilities, they can also be emulated in Pine Script as a line indicator.
The Renko emulation indicator in Pine Script calculates the movement of price based on a user-defined brick size. Whenever the price moves up or down by an amount equal to or greater than the brick size, a new level is plotted, indicating a shift in price direction. This approach helps traders visualize significant price moves without the distractions of smaller fluctuations. By plotting the Renko levels as a continuous line and coloring it based on direction, this indicator provides a clean and straightforward representation of market trends.
Traders can use this Renko emulation line to identify potential entry and exit points, as well as to confirm ongoing trends. The simplicity of Renko charts makes them a favorite among those who prefer a minimalist approach to technical analysis. However, it is essential to choose an appropriate brick size that aligns with the volatility of the trading instrument. A smaller brick size may result in frequent signals, while a larger one can smooth out the chart, focusing only on the most substantial price movements. This script offers a flexible solution for incorporating Renko-style analysis into any trading strategy.
Absolute Strength Index [ASI] (Zeiierman)█ Overview
The Absolute Strength Index (ASI) is a next-generation oscillator designed to measure the strength and direction of price movements by leveraging percentile-based normalization of historical returns. Developed by Zeiierman, this indicator offers a highly visual and intuitive approach to identifying market conditions, trend strength, and divergence opportunities.
By dynamically scaling price returns into a bounded oscillator (-10 to +10), the ASI helps traders spot overbought/oversold conditions, trend reversals, and momentum changes with enhanced precision. It also incorporates advanced features like divergence detection and adaptive signal smoothing for versatile trading applications.
█ How It Works
The ASI's core calculation methodology revolves around analyzing historical price returns, classifying them into top and bottom percentiles, and normalizing the current price movement within this framework. Here's a breakdown of its key components:
⚪ Returns Lookback
The ASI evaluates historical price returns over a user-defined period (Returns Lookback) to measure recent price behavior. This lookback window determines the sensitivity of the oscillator:
Shorter Lookback: Higher responsiveness to recent price movements, suitable for scalping or high-volatility assets.
Longer Lookback: Smoother oscillator behavior is ideal for identifying larger trends and avoiding false signals.
⚪ Percentile-Based Thresholds
The ASI categorizes returns into two groups:
Top Percentile (Winners): The upper X% of returns, representing the strongest upward price moves.
Bottom Percentile (Losers): The lower X% of returns, capturing the sharpest downward movements.
This percentile-based normalization ensures the ASI adapts to market conditions, filtering noise and emphasizing significant price changes.
⚪ Oscillator Normalization
The ASI normalizes current returns relative to the top and bottom thresholds:
Values range from -10 to +10, where:
+10 represents extreme bullish strength (above the top percentile threshold).
-10 indicates extreme bearish weakness (below the bottom percentile threshold).
⚪ Signal Line Smoothing
A signal line is optionally applied to the ASI using a variety of moving averages:
Options: SMA, EMA, WMA, RMA, or HMA.
Effect: Smooths the ASI to filter out noise, with shorter lengths offering higher responsiveness and longer lengths providing stability.
⚪ Divergence Detection
One of ASI's standout features is its ability to detect and highlight bullish and bearish divergences:
Bullish Divergence: The ASI forms higher lows while the price forms lower lows, signaling potential upward reversals.
Bearish Divergence: The ASI forms lower highs while the price forms higher highs, indicating potential downward reversals.
█ Key Differences from RSI
Dynamic Adaptability: ASI adjusts to market conditions through percentile-based scaling, while RSI uses static thresholds.
█ How to Use ASI
⚪ Trend Identification
Bullish Strength: ASI above zero suggests upward momentum, suitable for trend-following trades.
Bearish Weakness: ASI below zero signals downward momentum, ideal for short trades or exits from long positions.
⚪ Overbought/Oversold Levels
Overbought Zone: ASI in the +8 to +10 range indicates potential exhaustion of bullish momentum.
Oversold Zone: ASI in the -8 to -10 range points to potential reversal opportunities.
⚪ Divergence Signals
Look for bullish or bearish divergence labels to anticipate trend reversals before they occur.
⚪ Signal Line Crossovers
A crossover between the ASI and its signal line (e.g., EMA or SMA) can indicate a shift in momentum:
Bullish Crossover: ASI crosses above the signal line, signaling potential upside.
Bearish Crossover: ASI crosses below the signal line, suggesting downside momentum.
█ Settings Explained
⚪ Absolute Strength Index
Returns Lookback: Sets the sensitivity of the oscillator. Shorter periods detect short-term changes, while longer periods focus on broader trends.
Top/Bottom Percentiles: Adjust thresholds for defining winners and losers. Narrower percentiles increase sensitivity to outliers.
Signal Line Type: Choose from SMA, EMA, WMA, RMA, or HMA for smoothing.
Signal Line Length: Fine-tune the responsiveness of the signal line.
⚪ Divergence
Divergence Lookback: Adjusts the period for detecting divergence. Use longer lookbacks to reduce noise.
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Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
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