Intraday Session Table Intraday Session Table indicator up dates the values as per session input. By default session input duration is for 15 minutes. It updates the Intraday Closing Price- Open Price (CL-OP) of session at the end of the session. The next column displays the increase / decrease in CL-OP
The third column displays various values viz ROC, Closing Price, RSI(14 bars), MA20, MA50,Momentum(10 bars),Closing Price-Open Price,Net number of bars (Intraday Red bars minus Green bars) and Net intraday volume in millions.The parameters can be selected from the dropdown list in Input Box.
User can CHECK OUT Table input Box and select from the list to see individual charts.
User can analyze the movement of values to ascertain the trend.It gives fair idea of the up and down movement based on the session wise movement of values. The access to individual charts of some of the values help the user to have a graphic picture of the situation.
DISCLAIMER: For educational and entertainment purpose only .Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security/ies or investment/s.
在脚本中搜索"charts"
GP - Long Short ScannerThis script is made to predict the point at which price-time charts will rise or fall. The script was inspired by the RSI and TSI formulas. The formula is simply; Calculates the RSI and TSI values of open, high, low and close. Calculated values are converted to an array. The maximum and minimum values in the array are taken for the candles included in the calculation. These values calculate the time when the "Long" label will be seen on the chart of the candle that will increase the price. At the same time, it calculates the time when the "Short" label will appear on the chart of the candle that will decrease the price. Although these calculations are not precise; Seeing the “Long” label means that the price will rise at that candle, and seeing the “Short” label means that the price will decrease at that candle. The “Long”, “Short” tags from this script alone should not be used to determine the direction of the price. It can be used on all price-time charts.
Volume Profile - BearJust another Volume Profile but you can fit into your chart better by moving back and forth horizontally. also note you can fix the number of bars to show the volume by that way you can use a fib retracment to line up high/low volume nodes with fib levels... see where price as bad structure. or just play with the colors to make a cool gradient?
Volume Profile is a technical analysis tool used by traders to analyze the distribution of trading volume at different price levels within a specified time frame. It helps traders identify key support and resistance levels, potential areas of price reversals, and areas of high trading interest. Here's how to read Volume Profile on a trading chart:
1. **Choose a Time Frame**: Decide on the time frame you want to analyze. Volume Profile can be applied to various time frames, such as daily, hourly, or even minute charts. The choice depends on your trading style and goals.
2. **Plot the Volume Profile**: Once you have your chart open, add the Volume Profile indicator. Most trading platforms offer this tool. It typically appears as a histogram or a series of horizontal bars alongside the price chart.
3. **Identify Key Elements**:
a. **Value Area**: The Value Area represents the price range where the majority of trading volume occurred. It is often divided into three parts: the Point of Control (POC) and the upper and lower value areas. The POC is the price level where the most trading activity occurred and is considered a significant support or resistance level.
b. **High-Volume Nodes**: High-volume nodes are price levels where there was a significant amount of trading volume. These nodes can act as support or resistance levels because they represent areas where many traders had their positions.
c. **Low-Volume Areas**: Conversely, low-volume areas are price levels with little trading activity. These areas may not provide strong support or resistance because they lack significant trader interest.
4. **Interpretation**:
- If the price is trading above the POC and the upper value area, it suggests bullish sentiment, and these levels may act as support.
- If the price is trading below the POC and the lower value area, it suggests bearish sentiment, and these levels may act as resistance.
- High-volume nodes can also act as support or resistance, depending on the price's current position relative to them.
5. **Confirmation**: Volume Profile should be used in conjunction with other technical analysis tools and indicators to confirm trading decisions. Consider using trendlines, moving averages, or other price patterns to validate your trading strategy.
6. **Adjust for Different Time Frames**: Keep in mind that Volume Profile analysis can yield different results on different time frames. For example, a support level on a daily chart may not hold on a shorter time frame due to intraday volatility.
7. **Practice and Experience**: Like any trading tool, reading Volume Profile requires practice and experience. Analyze historical charts, paper trade, and refine your strategies over time to gain proficiency.
8. **Stay Informed**: Stay updated with market news and events that can impact trading volume. Sudden news can change the significance of volume levels.
Daily Pivots with Fakeout Protection█ OVERVIEW
The "Daily Pivots with Fakeout Protection" indicator is a powerful tool designed to help traders identify potential price breakouts and pivot levels on daily charts. This indicator calculates and displays daily pivot points along with breakout lines that are adjusted to provide a certain level of protection against fakeouts, which are false price movements that can mislead traders.
█ FEATURES
• Pivot Timeframe Selection: You can choose the timeframe for the pivot calculations. The default is set to daily (D), but you have the flexibility to select other timeframes as well.
• Fakeout Protection: A percentage-based parameter allows you to define the amount of protection you want against fakeouts. This helps filter out potentially unreliable breakouts.
• Bullish and Bearish Signals: The indicator distinguishes between bullish and bearish conditions by comparing the closing price to the daily high and low.
• Breakout Signals: Triangular symbols (upward and downward) appear below and above bars to signal potential breakout points. These are based on the closing price crossing the adjusted breakout lines.
• Visual Representation: Pivot points, daily high, and daily low are plotted on the chart, with distinctive line styles and colors for easy identification.
• Background Highlighting: The background color of the chart changes when a new period begins, helping you quickly recognize the start of a new trading day.
• Color-Coded Zones: The indicator colors the background around the closing price differently based on whether the market is bullish (green) or bearish (red).
█ HOW TO USE
1 — Apply the "Daily Pivots with Fakeout Protection" indicator to your TradingView chart.
2 — Customize the parameters like pivot timeframe and fakeout protection percentage according to your trading preferences.
3 — Watch for the triangular breakout symbols that appear above and below bars, indicating potential breakout points.
4 — Keep an eye on the pivot points, daily high, and daily low lines to understand price levels relevant to the current trading day.
5 — Use the background color changes to quickly identify the beginning of a new trading day and any potential shifts in market sentiment.
Note:
• This indicator is designed for daily charts but can be adjusted to work with other timeframes as well.
• Be cautious of relying solely on breakout signals; consider using additional technical and fundamental analysis for confirmation.
Start integrating the "Daily Pivots with Fakeout Protection" indicator into your trading strategy to enhance your ability to identify breakouts and pivot levels more effectively.
Random Market «NoaTrader»This is a simple script for generating random data shown as candles. The purpose of it is the following:
1- To see what works here. If everything is random and something is working, is there really any reason behind it?
2- To see what NOT works here! this is probably the most interesting part. Human behaviors are more likely to generate bubbles so theories like Elliot waves don't work here but do work on real charts! that is an interesting thing!
3- To find out the exact parameters defining a market which is a bit more complicated and deeper. If you look closely to candles you can say that it is not natural like other candle charts. If you have watched different timeframes enough, you have a sense of the difference between them. Why? What is natural? The volume? The wicks? The seasonality? The amount of randomness? The cycle of momentum change? ... If you can generate candles more similar to real ones it means you know the details of market much better!
P.S: the random function of trading view works differently on different symbols and timeframes..
DTR & ATR
Description
This ATR and DTR label is update of Existing Label provided by © ssksubam
Please See Notes on original Script Here :
Original Code is not mine but I have done few code changes which I believe will help everyone who are looking to add more labels together and save space on the chart
ATR & DTR Script is very helpful for Day Traders as I will explain in detail bellow
Following are changes I have incorporated
Previous Label took more space on the charts with Header and Footer.
I removed the Header and moved both DTR vs ATR descriptions on the same line, saving space on the chart.
I updated the code to remove => signs, which are self-explanatory as I will explain below.
I made the label in 1 single compact line for maximum space efficiency and aesthetics.
These changes improve the content's clarity and conciseness while optimizing space on the charts. If you have any further requests or need additional assistance, feel free to let me know!
What Does DTR Signify?
Stock ATR stands for Average True Range, which is a technical indicator used in trading and investment analysis. The Average True Range measures the volatility of a stock over a given period of time. It provides insights into the price movement and potential price ranges of the stock.
The ATR is calculated as the average of the true ranges over a specific number of periods. The true range is the greatest of the following three values:
The difference between the current high and the current low.
The absolute value of the difference between the current high and the previous close.
The absolute value of the difference between the current low and the previous close.
Traders and investors use ATR to assess the potential risk and reward of a stock. A higher ATR value indicates higher volatility and larger price swings, while a lower ATR value suggests lower volatility and smaller price movements. By understanding the ATR, traders can set appropriate stop-loss levels and make informed decisions about position sizing and risk management.
It's important to note that the ATR is not a directional indicator like moving averages or oscillators. Instead, it provides a measure of volatility, helping traders adapt their strategies to suit the current market conditions.
What Does ATR Signify?
The Average True Range (ATR) signifies the level of volatility or price variability in a particular financial asset, such as a stock, currency pair, or commodity, over a specific period of time. It provides valuable information to traders and investors regarding the potential risk and reward associated with the asset.
Here are the key significances of ATR:
Volatility Measurement: ATR measures the average price range between high and low prices over a specified timeframe. Higher ATR values indicate greater volatility, while lower values suggest lower volatility. Traders use this information to gauge the potential price movements and adjust their strategies accordingly.
Risk Assessment: A higher ATR value implies larger price swings, indicating increased market uncertainty and risk. Traders can use ATR to set appropriate stop-loss levels and manage risk by adjusting position sizes based on the current volatility.
Trend Strength: ATR can also be used to assess the strength of a trend. In an uptrend or downtrend, ATR tends to increase, indicating a more powerful price movement. Conversely, a declining ATR might signify a weakening trend or a consolidation period.
Range-Bound Market Identification: In a range-bound or sideways market, the ATR value tends to be relatively low, reflecting the lack of significant price movements. This information can be helpful for range-trading strategies.
Volatility Breakouts: Traders often use ATR to identify potential breakouts from consolidation patterns. When the ATR value expands significantly, it may indicate the beginning of a new trend or a breakout move.
Comparison between Assets: ATR allows traders to compare the volatility of different
How to use DTR & ATR for Trading
Using Average True Range (ATR) and Daily Trading Range (DTR) can be beneficial for day trading to assess potential price movements, manage risk, and identify trading opportunities. Here's how you can use both indicators effectively:
Calculate ATR and DTR: First, calculate the ATR and DTR values for the asset you are interested in trading. ATR is the average of true ranges over a specified period (e.g., 14 days), while DTR is the difference between the high and low prices of a single trading day.
Assess Volatility: Compare the ATR and DTR values to understand the current volatility of the asset. Higher values indicate increased volatility, while lower values suggest reduced volatility.
Setting Stop-Loss: Use ATR to set appropriate stop-loss levels. For example, you might decide to set your stop-loss a certain number of ATR points away from your entry point. This approach allows you to factor in market volatility when determining your risk tolerance.
Identify Trading Range: Analyze DTR to determine the typical daily price range of the asset. This information can help you identify potential support and resistance levels, which are essential for day trading strategies such as breakout or range trading.
Breakout Strategies: ATR can assist in identifying potential breakout opportunities. When ATR values increase significantly, it suggests an expansion in volatility, which may indicate an upcoming breakout from a trading range. Look for breakouts above resistance or below support levels with higher than usual ATR values.
Scalping Strategies: For scalping strategies, where traders aim to profit from small price movements within a single trading session, knowing the typical DTR can help set reasonable profit targets and stop-loss levels.
Confirming Trend Strength: In day trading, you may encounter short-term trends. Use ATR to assess the strength of these trends. If the ATR is rising, it suggests a strong trend, while a declining ATR may indicate a weakening trend or potential reversal.
Risk Management: Both ATR and DTR can aid in risk management. Determine your position size based on the current ATR value to align it with your risk tolerance. Additionally, understanding the DTR can help you avoid overtrading during periods of low volatility.
Combine with Other Indicators: ATR and DTR work well when used in conjunction with other technical indicators like moving averages, Bollinger Bands, or RSI. Combining multiple indicators can provide a mor
Oil Price Prediction (Highly Accurate)It's a little-known fact that gold prices move preceded oil prices by 20 months.
If you don't believe me here is a short video from Tom McClellan discussing this www.cnbc.com
This gives us one of the best and highly accurate indicators of what oil will do in the months to come.
HOW TO USE.
When adding the script to your charts it's important to make a couple of adjustments.
Click the triple dots (...), scroll down to pin to scale, and click pin to new scale.
Rght-click the new scale and click auto (fits data to screen)
Go into the indicator settings and turn off the red line.
What you'll be left with is a price projection on where oil prices will go. This becomes your 30,000-foot view. It is important for traders to know if they're coming into a bullish, bearish or consolidating market and this indicator does that.
Its important to mention this is for Monthly charts.
Happy Trading
Opening Range Gap + Std Dev [starclique]The ICT Opening Range Gap is a concept taught by Inner Circle Trader and is discussed in the videos: 'One Trading Setup For Life' and 2023 ICT Mentorship - Opening Range Gap Repricing Macro
ORGs, or Opening Range Gaps, are gaps that form only on the Regular Trading Hours chart.
The Regular Trading Hours gap occurs between 16:15 PM - 9:29 AM EST (UTC-4)
These times are considered overnight trading, so it is useful to filter the PA (price action) formed there.
The RTH option is only available for futures contracts and continuous futures from CME Group.
To change your chart to RTH, first things first, make sure you’re looking at a futures contract for an asset class, then on the bottom right of your chart, you’ll see ETH (by default) - Click on that, and change it to RTH.
Now your charts are filtering the price action that happened overnight.
To draw out your gap, use the Close of the 4:14 PM candle and the open of the 9:30 AM candle.
How is this concept useful?
Well, It can be used in many ways.
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How To Use The ORG
One of the ways you can use the opening range gap is simply as support and resistance
If we extend out the ORG from the example above, we can see that there is a clean retest of the opening range gap high after breaking structure to the upside and showing acceptance outside of the gap after consolidating within it.
The ORG High (4:14 Candle Close in this case) was used as support.
We then see an expansion to the upside.
Another way to implement the ORG is by using it as a draw on liquidity (magnet for price)
In this example, if we looked to the left, there was a huge ORG to the downside, leaving a massive gap.
The market will want to rebalance that gap during the regular trading hours.
The market rallies higher, rejects, comes down to clear the current days ORG low, then closes.
That is one example of how you can combine liquidity & ICT market structure concepts with Opening Range Gaps to create a story in the charts.
Now let’s discuss standard deviations.
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Standard Deviations
Standard Deviations are essentially projection levels for ranges / POIs (Point of Interests)
By this I mean, if you have a range, and you would like to see where it could potentially expand to, you’d place your fibonacci retracement tool on and high and low of the range, then use extension levels to find specific price points where price might reject from.
Since 0 and 1 are your Range High and Low respectively, your projection levels would be something like 1.5, 2, 2.5, and 3, for the extension from your 1 Fib Level, and -0.5, -1, -1.5, and -2 for your 0 Fib level.
The -1 and 2 level produce a 1:1 projection of your range low and high, meaning, if you expect price to expand as much as it did from the range low to range high, then you can project a -1 and 2 on your Fib, and it would show you what ICT calls “symmetrical price”
Now, how are standard deviations relevant here?
Well, if you’ve been paying attention to ICT’s recent videos, you would’ve caught that he’s recently started using Standard Deviation levels on breakers.
So my brain got going while watching his video on ORGs, and I decided to place the fib on the ORG high and low and see what it’d produce.
The results were very interesting.
Using this same example, if we place our fib on the ORG High and Low, and add some projection levels, we can see that we rejected right at the -2 Standard Deviation Level.
---
You can see that I also marked out the EQ (Equilibrium, 50%, 0.5 of Fib) of the ORG. This is because we can use this level as a take profit level if we’re using an old ORG as our draw.
In days like these, where the gap formed was within a consolidation, and it continued to consolidate within the ORG zone that we extended, we can use the EQ in the same way we’d use an EQ for a range.
If it’s showing acceptance above the EQ, we are bullish, and expect the high of the ORG to be tapped, and vice versa.
---
Using The Indicator
Here’s where our indicator comes in play.
To avoid having to do all this work of zooming in and marking out the close and open of the respective ORG candles, we created the Opening Range Gap + Standard Deviations Indicator, with the help of our dedicated Star Clique coder, a1tmaniac.
With the ORG + STD DEV indicator, you will be able to view ORG’s and their projections on the ETH (Electronic Trading Hours) chart.
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Features
Range Box
- Change the color of your Opening Range Gap to your liking
- Enable or disable the box from appearing using the checkbox
Range Midline
- Change the color of your Opening Range Gap Equilibrium
- Enable or disable the midline from appearing using the checkbox
Std. Dev
- Add whichever standard deviation levels you’d like.
- By default, the indicator comes with 0.5, 1, 1.5, and 2 standard deviation levels.
- Ensure that you add a comma ( , ) in between each standard deviation level
- Enable or disable the standard deviations from appearing using the opacity of the color (change to 0%)
Labels / Offset
- Adjust the offset of the label for the Standard Deviations
- Enable or disable the Labels from appearing using the checkbox
Time
- Adjust the time used for the indicators range
- If you’d like to use this for a Session or ICT Killzone instead, adjust the time
- Adjust the timezone used for the time referenced
- Options are UTC, US (UTC-4, New York Local Time) or UK (UTC+1, London Time)
- By default, the indicator is set to US
ICT Sessions_One Setup for Life [MK]The script plots the High/Low of the following trading sessions:
London - 02:00-05:00
NY AM - 09:30-12:00
New York Lunch - 12:00-13:30
New York PM - 13:30-16:00
Due to the high level of liquidity (resting orders), highs and lows of these sessions may be used as buy/sell areas and also as profit target areas. Typically, buy orders would be initiated below a session low and sell orders would be initiated above a
session high.
The script also plots 'RTH (Regular Trading Hours) Opening Gaps'. The RTH gaps are drawn from the closing price of regular trading at 16:15 (EST) to the open price of regular trading at 09:30 (EST). Gaps can be areas that traders might anticipate to be filled at some time in the future. A gap 'midline' is available if needed and yesterday RTH close line can be shown and extended to the current bar.
This script is simply a means to draw boxes around certain areas/periods on the charts. It is in no way a trading strategy and users should spend much time to study the concept and should also perform extensive back-testing before taking any trades.
By setting the lookback value to a much higher value then the default of 6, users can utilise the script to perform their own backtesting studies.
The above chart shows the default setup of the indicator. Note that the user has to choose how far (in days) to lookback and draw the sessions/gaps.
It is also possible to show the session high//low lines and extend them to the current bar time. If this is used it is advised to keep the lookback period as low as possible to ensure charts stay clean/uncluttered.
All boxes/lines styles/colors are fully customisable.
VIX Monitor [Zero54]NSE:BANKNIFTY1!
This is a simple but invaluable tool for both day traders and positional traders. VIX is about market expectations of volatility
The VIX is a very good and sound measure of risk in the markets. It gives these stock traders who are in intraday trading and short term traders an idea of whether the volatility is going up or going down in the market. They can calibrate their strategy accordingly. When the volatility is likely to shoot up sharply, the intraday traders run the risk of stop losses getting triggered quickly. Hence they can either reduce their leverage or they can widen their stop losses accordingly.
Also if you notice VIX is a very good and reliable gauge of index movement. If you plot the VIX and the Nifty movement you will see a clear negative correlation in the charts itself. Markets typically tend to peak out when the VIX is bottoming out and the markets tend to bottom out when the VIX is peaking out. This is a useful input for index trades.
You can use this simple indicator to monitor VIX real time. You can use it for short time frame intraday and also multi-hour, multi-day charts. You can also plot a moving average to gauge the VIX trend.
Also is the ability to monitor, Nifty and BankNifty the same way you are able to monitor the VIX (as explained above). The overall market moves in correlation with these main Indexes. So if you are trading a specific counter, you can also keep an eye on the index to get an idea where the counter may be going next.
The source code is open, please feel to modify or re-use as you feel it’s necessary. Any changes, improvements, bugs, please let me know.
Please like/boost this indicator and also add your comments, if you find it useful.
Moving Averages + BB & R.VWAP StDev (multi-tf)█ Moving Averages + Bollinger Bands and Rolling Volume Weighted Average Price with Standard Deviation Bands (Multi Timeframe)
Multiple moving averages can be independently applied.
The length , type and timeframe of each moving average are configurable .
The lines and colors are customizable too.
This script can display:
Moving Averages
Bollinger Bands
Rolling VWAP and Standard Deviation Bands
Types of Moving Averages:
Simple Moving Average (SMA)
Exponential Moving Average (EMA)
Smoothed Moving Average (SMMA)
Weighted Moving Average (WMA)
Volume Weighted Moving Average (VWMA)
Least Squares Moving Average (LSMA)
Hull Moving Average (HMA)
Arnaud Legoux Moving Average (ALMA)
█ Moving Average
Moving Averages are price based, lagging (or reactive) indicators that display the average price of a security over a set period of time.
A Moving Average is a good way to gauge momentum as well as to confirm trends, and define areas of support and resistance.
█ Bollinger Bands
Bollinger Bands consist of a band of three lines which are plotted in relation to security prices.
The line in the middle is usually a Simple Moving Average (SMA) set to a period of 20 days (the type of trend line and period can be changed by the trader, a 20 day moving average is by far the most popular).
The SMA then serves as a base for the Upper and Lower Bands which are used as a way to measure volatility by observing the relationship between the Bands and price.
█ Rolling VWAP
The typical VWAP is designed to be used on intraday charts, as it resets at the beginning of the day.
Such VWAPs cannot be used on daily, weekly or monthly charts. Instead, this rolling VWAP uses a time period that automatically adjusts to the chart's timeframe.
You can thus use the rolling VWAP on any chart that includes volume information in its data feed.
Because the rolling VWAP uses a moving window, it does not exhibit the jumpiness of VWAP plots that reset.
Based on the previous script :
VWAP Open Session Anchored by HampehThe VWAP Open Session Anchored indicator differs from traditional VWAP indicators by automatically anchoring the Volume Weighted Average Price calculation to three market session starts Morning, Evening, and Night. Each session represents a distinct time period within the trading day, offering traders and investors a more comprehensive view of the volume-weighted average price within specific sessions.
What Is the Volume-Weighted Average Price (VWAP)?
The volume-weighted average price (VWAP) is a technical analysis indicator used on intraday charts that resets at the start of every new trading session.
VWAP is important because it provides traders with pricing insight into both the trend and value of a security.
KEY TAKEAWAYS
1. The volume-weighted average price (VWAP) is a single line on intraday charts.
2. It looks similar to a moving average line but smoother.
3. VWAP represents a view of price action throughout a single day's trading session.
4. Retail and professional traders may use the VWAP to help them determine intraday price trends.
5. VWAP typically is most useful to short-term traders.
VWAP is calculated by totaling the dollars traded for every transaction (price multiplied by the volume) and then dividing by the total shares traded.
VWAP = Cumulative Typical Price x Volume/Cumulative Volume
Where Typical Price = High price + Low price + Closing Price/3
Cumulative = total since the trading session opened.
How Is VWAP Used?
VWAP is used in different ways by traders. Traders may use VWAP as a trend confirmation tool and build trading rules around it. For instance, they may consider stocks with prices below VWAP as undervalued and those with prices above it, as overvalued. If prices below VWAP move above it, traders may go long on the stock. If prices above VWAP move below it, they may sell their positions or initiate short positions.
Institutional buyers including mutual funds use VWAP to help move into or out of stocks with as small of a market impact as possible. Therefore, when they can, institutions will try to buy below the VWAP or sell above it. This way their actions push the price back toward the average, instead of away from it.
Source: www.investopedia.com
Volatility Percentile (H-LINES)A simple script that adjusts the Volatility Percentile Indicator visibly in order to better accommodate entries/exits and certain trading setups/strategies.
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TL;DR - Remember after a full reset, we are looking for initial crosses UP on the UpperSwingline and crosses DOWN on the LowerSwingline for primary and secondary signal derivation.
Vice versa also works great but the prior method mentioned is a little more consistent in my experience, but you should mess around and optimise this for your own setups and strategies anyway.
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ORIGINAL SCRIPT HERE:
^Click image for a redirect to that script.
ALL CREDIT GOES TO: www.tradingview.com
He wrote everything so give credit where it's due, good bit of kit this here script is.
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HOW I USE MY VISUALLY ALTERED VERSION OF THIS SCRIPT
First of all, the alterations I've made seem only to be consistently viable with renko charts though if you can get the sought after results using candles or any other chart type then perfect, but be wary. All my back-testing done only with LinReg, HMA and SWMA - ATR type settings exclusively on renko charts. The changes I've made to the original script essentially just turns it visibly into an oscillator and uses a couple horizontal lines to generate signals, very simple - absolutely nothing has changed in the actual code of calculating this indicator.
What I believe my adjustments have achieved is quite simple. A full reset/oscillation on the indicator tries to map the strongest parts of a move or at least the part of the move where volume and the rate of transactions is at its peak to even facilitate said move. *take this statement with a pinch of salt though I do believe it's interacting with accumulation/distribution patterns, which is expected of volatility*
For ease of communication let's refer to the area between the the first UpperSwingline cross to the subsequent LowerSwingline cross, as the primary move. Then afterwards when it crosses the UpperSwingline again to make the full reset, the area in between those two points referred to as the secondary move.
Though more interestingly/practically the indicator ends up giving you two signals. In order for this to work we have to first decide that a spike up in volatility which crosses the UpperSwingline implies a significant level of interest at that price level. Usually that means a reversal is brewing, if price has already moved, trended and is approaching a certain area of value; which causes a spike of new positions to be taken, then you know that this is a level where contrarians are looking to enter. Now here's the tricky part, when volatility crosses the LowerSwingline price action becomes a little more open for interpretation, the way I personally like to look at this secondary signal is the potential for an exhaustion period to prolong itself a little longer. I know that's not the perfect analysis for what's going on, a more in-depth look into what's going on would best be described using Elliott Wave Theory, if a cross on the UpperSwingline near a significant area of value gives us a reversal trade lets just assume for the sake of argument that a new Elliott Wave can begin forming here. Making the move from that initial UpperSwngline cross to the cross on the LowerSwingline, the area that encompasses those two points: the impulse wave. After this point my analogy kind of falls apart and sadly my knowledge just isn't what it needs to be in order for me to properly analyse what's going on here but I must digress. Price after crossing the LowerSwingline up until the point where it makes a full reset by crossing the UpperSwingline again, within this area price seems to do either one of two things:
Situation 1 - Most likely occurs after a major trend reversal from major support/resistance or area of value (price has trended to new territory, maybe spent time a little time consolidating but hasn't broken the key level, momentum shifts, price action breaks current structure and you get the signal that primary move is a reversal) = Exhaustion Period, price will continue in direction of primary move during the secondary move. This here is for our trend-followers, you wanna take a continuation trade? Just wait for the pullback/rally to hit a FiB retracement level and enter - or any other means to find a decent support/resistance to enter.
Situation 2 - Most likely occurs when market enters a range or consolidation (price was previously seen as being at either a discount or premium so Situation 1 could have already played out and now you're looking at a full reset after that, imagine this spot to be the centre line of a linear regression channel or bang in the middle of your range, could even occur if price breaks a key moving average and decides it ought to consolidate around it for a while. Basically at any point where a somewhat prolonged consolidation is expected and not a quick reversal) = Corrective Wave, price will move against the direction of primary move during the secondary move. Now you might be expecting me to say this ones for you reversal traders but not really, if this is occurring then there probably isn't a definitive direction the market has chosen so you can use this opportunity to take range trades in the direction or against the direction of whatever the current trend or latest trend was depending on whatever slight bias you may have. <--- Situation 2 is very useful for finding cleaner entries if you do have a trend bias, say price underwent Situation 1, is now at key moving average but your bias is that it will break and continue up, so you wait and allow the secondary move of Situation 2 to take your entry to a much better R:R before entering a position.
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Simple Dominance Momentum IndicatorThe Simple Dominance Momentum Indicator is a powerful tool for tracking market trends in the world of cryptocurrency. By analyzing the relationship between dominance and market movement, this indicator helps traders identify when money is flowing into or out of the market.
Using the pane structure on TradingView, the Dominance Momentum Indicator makes it easy to visualize and track data from CryptoCap charts. Whether you're a seasoned investor or starting out, this indicator can help you make more informed trading decisions.
All this indicator does is create the pane with a line chart using the Dominance charts to allow you to see the data with one button instead of doing it all manually. However with the addition to allow it to toggle between crypto and stables, so if you are using a /BTC pair, you don't have to add a new pane on, it automatically converts. If you are looking at USDT pairs for example, it will highlight that one for you.
While it can work under any conditions, the Dominance Momentum Indicator is particularly effective on higher timeframes, providing valuable insight into the overall plot of the market trend. With a 55EMA and a faster-moving average of 21EMA, this indicator is designed to help you stay ahead of the curve and make smarter trading decisions.
Remember the golden rule for stablecoin dominance. Down = good, and up = bad; however, you can just invert the indicator, so it flows with the market.
When it comes to the dominance of individual cryptocurrencies, for example, DOT.D, you might find that it going up = increasing dominance is STRENGTH. If the dominance of that is increasing it means it's growing.
Creator Credit: Jamie Goodland
HTF Bar Close CountdownThis simple indicator displays a countdown for the amount of time left until a bar of your chosen timeframe closes.
Displays up to 5 different HTF countdowns.
Fully Customizable to fit any style, change the text colors, background colors, frame colors, display size and border & frame widths.
Flat display option for a sleek look to mesh with your charts.
Notes/Tips:
Higher Time Frames only! This is only intended to view HTF countdowns, will not work when trying to use a timeframe lower than your current chart's.
Some weird timeframes do not work, you'll know when.
Only works on live charts! Will display "Closed" when on an inactive chart.
Does not work for replay! A countdown is pretty pointless on a replay that is not real-time anyways...
Enjoy!
New Highs-New-Lows on US Stock Market - Main Chart Edition#### ENGLISH ####
This script visualizes divergences between the price and new highs and new lows in the US stock market. The indicator should be used exclusively on the US stock indices (timeframe >= D).
This is the indicator for the main chart. It should be used together with the subchart indicator of the same name. In order to get the same results between the main and subchart editions, the indicator settings must be manually adjusted equally in both charts.
The approach:
Let's take a bull market as an example. A bull market is characterized by rising highs and rising lows. We can therefore assume that with the rising prices, the number of stocks that form new highs also rises or at least remains constant. This confirms the upward trend and thus expresses that it is supported by the broad stock market. If the market forms new highs and the number of stocks forming new highs decreases at the same moment, these new index highs are no longer supported by the broad stock market but exclusively by a few highly capitalized stocks. This creates a bearish divergence between the index and the NHNL indicator. This means that the uptrend tends to be overheated and a correction becomes more likely. Stops should be drawn closer.
The approach applies conversely, of course, to downtrends as well.
The indicator itself:
The number of new highs and lows (NHNL) are determined using the data sources included in Tradingview, such as "INDEX:HIGN" for NYSE highs. This data is provided on a daily basis. For higher time units (week, month) the daily numbers are shown summed up and not only the Friday value like most other NHNL indicators.
The signal strength is determined on the basis of two factors. The stronger the signal, the clearer (less transparent) the line/arrow. The two factors are on the one hand the strength of the divergence in and of itself, and on the other hand the strength of the overriding trend. The trend strength is determined using a 50 EMA on the NHNL indicator.
To avoid displaying every small divergence and to reduce false signals, the threshold for the signal strength can be set in the indicator settings.
#### GERMAN #####
Dieses script visualisiert Divergenzen zwischen dem Preis und neuer Hochs sowie neuer Tiefs im US Aktienmarkt. Der Indikator sollte ausschließlich auf den US Aktienindizes verwendet werden (Timeframe >= D).
Dies ist der Indikator für den Hauptchart. Er sollte zusammen mit dem gleichnamigen Subchart Indikator verwendet werden. Um gleiche Ergebnisse zwischen Haupt- und Subchart Edition zu erhalten, müssen die Indikatoreistellung manuell in beiden Charts gleichermaßen eigestellt werden.
Der Ansatz:
Nehmen wir uns als Beispiel einen Bullenmarkt. Ein Bullenmarkt zeichnet sich durch steigende Hochs und steigende Tiefs aus. Man kann also annehmen, dass mit den steigenden Preisen auch die Anzahl der Aktien die neuen Hochs ausbilden steigt oder zumindest konstant bleibt. Dies bestätigt den Aufwärtstrend und drückt somit aus, dass dieser vom breiten Aktienmarkt mitgetragen wird. Wenn der Markt neue Hochs bildet und die Anzahl der Aktien, die neue Hochs bilden im selben Moment sinkt, so werden diese neuen Indexhochs vom breiten Aktienmarkt nicht mehr getragen sonder ausschließlich von wenigen hochkapitalisierten Aktien. Es entsteht eine bärische Divergenz zwischen Index und dem NHNL Indikator. Das bedeutet, dass der Aufwärtstrend tendenziell überhitzt ist und ein Korrektur wahrscheinlicher wird. Die Stops sollten näher herangezogen werden.
Der Ansatz gilt umgekehrt natürlich auch bei Abwärtstrends.
Der Indikator an sich:
Die Anzahl der neuen Hochs und Tiefs (NHNL) werden anhand der in Tradingview enthaltenen Datenquellen wie z.B. "INDEX:HIGN" für die NYSE Hochs ermittelt. Diese Daten werden auf Tagesbasis bereitgestellt. Für höher Zeiteinheiten (Woche, Monat) werden die Tageszahlen aufsummiert dargestellt und nicht wie bei den meisten anderen NHNL Indikatoren nur der Freitagswert.
Die Signalstärke wird Anhand zweier Faktoren ermittelt. Je stärker das Signal um so deutlicher (weniger transparent) die Linie/der Pfeil. Die zwei Faktoren sind zum einen die stärke der Divergenz an und für sich, sowie zum anderen die Stärke des übergeordneten Trends. Die Trendstärke wird anhand eines 50er-EMA auf den NHNL-Indikator ermittelt.
Um nicht jede kleine Divergenz anzuzeigen und um Fehlsignale zu reduzieren, kann die Schwelle für die Signalstärke in den Indikatoreinstellungen festgelegt werden.
New Highs-New-Lows on US Stock Market - Sub Chart Edition#### ENGLISH ####
This script visualizes divergences between the price and new highs and new lows in the US stock market. The indicator should be used exclusively on the US stock indices (timeframe >= D).
This is the indicator for the sub chart. It should be used together with the main chart indicator of the same name. In order to get the same results between the main and subchart editions, the indicator settings must be manually adjusted equally in both charts.
The approach:
Let's take a bull market as an example. A bull market is characterized by rising highs and rising lows. We can therefore assume that with the rising prices, the number of stocks that form new highs also rises or at least remains constant. This confirms the upward trend and thus expresses that it is supported by the broad stock market. If the market forms new highs and the number of stocks forming new highs decreases at the same moment, these new index highs are no longer supported by the broad stock market but exclusively by a few highly capitalized stocks. This creates a bearish divergence between the index and the NHNL indicator. This means that the uptrend tends to be overheated and a correction becomes more likely. Stops should be drawn closer.
The approach applies conversely, of course, to downtrends as well.
The indicator itself:
The number of new highs and lows (NHNL) are determined using the data sources included in Tradingview, such as "INDEX:HIGN" for NYSE highs. This data is provided on a daily basis. For higher time units (week, month) the daily numbers are shown summed up and not only the Friday value like most other NHNL indicators.
The signal strength is determined on the basis of two factors. The stronger the signal, the clearer (less transparent) the line/arrow. The two factors are on the one hand the strength of the divergence in and of itself, and on the other hand the strength of the overriding trend. The trend strength is determined using a 50 EMA on the NHNL indicator.
To avoid displaying every small divergence and to reduce false signals, the threshold for the signal strength can be set in the indicator settings.
#### GERMAN #####
Dieses script visualisiert Divergenzen zwischen dem Preis und neuer Hochs sowie neuer Tiefs im US Aktienmarkt. Der Indikator sollte ausschließlich auf den US Aktienindizes verwendet werden (Timeframe >= D).
Dies ist der Indikator für den Subchart. Er sollte zusammen mit dem gleichnamigen Hauptchart Indikator verwendet werden. Um gleiche Ergebnisse zwischen Haupt- und Subchart Edition zu erhalten, müssen die Indikatoreistellung manuell in beiden Charts gleichermaßen eigestellt werden.
Der Ansatz:
Nehmen wir uns als Beispiel einen Bullenmarkt. Ein Bullenmarkt zeichnet sich durch steigende Hochs und steigende Tiefs aus. Man kann also annehmen, dass mit den steigenden Preisen auch die Anzahl der Aktien die neuen Hochs ausbilden steigt oder zumindest konstant bleibt. Dies bestätigt den Aufwärtstrend und drückt somit aus, dass dieser vom breiten Aktienmarkt mitgetragen wird. Wenn der Markt neue Hochs bildet und die Anzahl der Aktien, die neue Hochs bilden im selben Moment sinkt, so werden diese neuen Indexhochs vom breiten Aktienmarkt nicht mehr getragen sonder ausschließlich von wenigen hochkapitalisierten Aktien. Es entsteht eine bärische Divergenz zwischen Index und dem NHNL Indikator. Das bedeutet, dass der Aufwärtstrend tendenziell überhitzt ist und ein Korrektur wahrscheinlicher wird. Die Stops sollten näher herangezogen werden.
Der Ansatz gilt umgekehrt natürlich auch bei Abwärtstrends.
Der Indikator an sich:
Die Anzahl der neuen Hochs und Tiefs (NHNL) werden anhand der in Tradingview enthaltenen Datenquellen wie z.B. "INDEX:HIGN" für die NYSE Hochs ermittelt. Diese Daten werden auf Tagesbasis bereitgestellt. Für höher Zeiteinheiten (Woche, Monat) werden die Tageszahlen aufsummiert dargestellt und nicht wie bei den meisten anderen NHNL Indikatoren nur der Freitagswert.
Die Signalstärke wird Anhand zweier Faktoren ermittelt. Je stärker das Signal um so deutlicher (weniger transparent) die Linie/der Pfeil. Die zwei Faktoren sind zum einen die stärke der Divergenz an und für sich, sowie zum anderen die Stärke des übergeordneten Trends. Die Trendstärke wird anhand eines 50er-EMA auf den NHNL-Indikator ermittelt.
Um nicht jede kleine Divergenz anzuzeigen und um Fehlsignale zu reduzieren, kann die Schwelle für die Signalstärke in den Indikatoreinstellungen festgelegt werden.
Real Price Line + Dots (for Heikin Ashi)Real Price Line + Dots (for Heikin Ashi)
This indicator is designed for use on Heikin Ashi charts. Its purpose is to enable traders to benefit from price averaging and smoothing effects of Heikin Ashi candles whilst also enabling them to see the current real price line, and optionally, real price close dots on the Heikin Ashi candlesticks.
Features include:
- Optional real price line
- Optional real price close dots
- Customisable colours
- Customisable line style
- Customisable line width
What are Heikin Ashi candles?
Heikin Ashi means 'average bar' in Japanese, Heikin Ashi charts do not show real price as standard, due to the way the Open, High, Low and Close values are calculated using averages, This is done in order to create a smoother appearance and reduce the market 'noise'.
You can read more about Heikin Ashi candlesticks here.
NOTE:
- If real price dots appear behind the candles, you may need to select the triple dot menu on the indicator then select "Visual order" > "Bring to front" , so that the dots are shown above the candles.
- When using this indicator on a Heikin Ashi chart, the standard Tradingview price line will not show accurate real price. Therefore when using the price line in this indicator, the standard price line should be disabled within the Tradingview 'Chart settings' dialog > 'Symbol' tab > uncheck 'Last', under the 'Price line' section.
Coin & market cap tableThis table was built specifically for the Crypto market.
It gives you a quick overview of the markets without having to scroll through numerous charts. The information is the overall markets daily change and the charts coins movement on a daily, weekly and monthly basis.
The weeks start on a Monday morning, the months start on the 1st of the month so this is last weeks data and last calendar months data.
It also gives you Bitcoins dominance. (Total2) you can change it to Bitcoin & Ethereum dominance (Total3)
MTF CCI + Realtime DivergencesMulti-timeframe Commodity Channel Index (CCI) + Realtime Divergences + Alerts
This version of the CCI includes the following features:
- Optional 2x sets of triple-timeframe overbought and oversold signals with fully configurable timeframes and overbought and oversold thresholds, can indicate where 3 selected timeframes are all overbought or all oversold at the same time, with alert option.
- Optional divergence lines drawn directly onto the oscillator in realtime, with alert options.
- Configurable pivot periods to fine tune the divergences drawn in order to suit different trading styles and timeframes, including the ability to enable automatic adjustment of pivot period per chart timeframe.
- Alternate timeframe feature allows you to configure the oscillator to use data from a different timeframe than the chart it is loaded on.
- 'Hide oscillator' feature allows traders to hide the oscillator itself, leaving only the background colours indicating the overbought and oversold periods and/or MTF overbought and oversold confluences, as seen in the chart image.
- Also includes standard configurable CCI options, including CCI length and source type. Defaults set to length 20, and hlc3 source type.
- Optional Flip oscillator feature, allows users to flip the oscillator upside down, for use with Tradingviews 'Flip chart' feature (Alt+i), for the purpose of manually spotting divergences, where the trader has a strong natural bias in one direction, so that they can flip both the chart and the oscillator.
- Optional 'Fade oscillator' feature, which will fade out all but the most recent period, reducing visual noise on the chart.
While this version of the CCI has the ability to draw divergences in realtime along with related alerts so you can be notified as divergences occur without spending all day watching the charts, the main purpose of this indicator was to provide the triple-timeframe overbought and oversold confluence signals, in an attempt to add more confluence, weight and reliability to the single timeframe overbought and oversold states, commonly used for trade entry confluence. It's primary purpose is intended for scalping reversal trades on lower timeframes, typically between 1-15 minutes, which can be used in conjunction with the regular divergences the indicator can highlight. The triple timeframe overbought can often indicate near term reversals to the downside, with the triple timeframe oversold often indicating neartime reversals to the upside. The default timeframes for this confluence are set to check the 1m, 5m and 15m timeframes together, ideal for scalping the < 15 minute charts. The default settings for the MTF #1 timeframes (1m, 5m and 15m) are best used on a <5 minute chart.
Its design and use case is based upon the original MTF Stoch RSI + Realtime Divergences found here .
Commodity Channel Index (CCI)
Investopedia has described the popular oscillator as follows:
“The Commodity Channel Index (CCI) is a momentum-based oscillator used to help determine when an investment vehicle is reaching a condition of being overbought or oversold.
Developed by Donald Lambert, this technical indicator assesses price trend direction and strength, allowing traders to determine if they want to enter or exit a trade, refrain from taking a trade, or add to an existing position. In this way, the indicator can be used to provide trade signals when it acts in a certain way.”
You can read more about the CCI, its use cases and calculations here .
How do traders use overbought and oversold levels in their trading?
The oversold level, that is traditionally when the CCI is above the 100 level is typically interpreted as being 'overbought', and below the -100 level is typically considered 'oversold'. Traders will often use the CCI at an overbought level as a confluence for entry into a short position, and the CCI at an oversold level as a confluence for an entry into a long position. These levels do not mean that price will necessarily reverse at those levels in a reliable way, however. This is why this version of the CCI employs the triple timeframe overbought and oversold confluence, in an attempt to add a more confluence and reliability to this usage of the CCI. While traditionally, the overbought and oversold levels are below -100 for oversold, and above 100 for overbought, he default threshold settings of this indicator have been increased to provide fewer, stronger signals, especially suited to the low timeframes and highly volatile assets.
What are divergences?
Divergence is when the price of an asset is moving in the opposite direction of a technical indicator, such as an oscillator, or is moving contrary to other data. Divergence warns that the current price trend may be weakening, and in some cases may lead to the price changing direction.
There are 4 main types of divergence, which are split into 2 categories;
regular divergences and hidden divergences. Regular divergences indicate possible trend reversals, and hidden divergences indicate possible trend continuation.
Regular bullish divergence: An indication of a potential trend reversal, from the current downtrend, to an uptrend.
Regular bearish divergence: An indication of a potential trend reversal, from the current uptrend, to a downtrend.
Hidden bullish divergence: An indication of a potential uptrend continuation.
Hidden bearish divergence: An indication of a potential downtrend continuation.
How do traders use divergences in their trading?
A divergence is considered a leading indicator in technical analysis , meaning it has the ability to indicate a potential price move in the short term future.
Hidden bullish and hidden bearish divergences, which indicate a potential continuation of the current trend are sometimes considered a good place for traders to begin, since trend continuation occurs more frequently than reversals, or trend changes.
When trading regular bullish divergences and regular bearish divergences, which are indications of a trend reversal, the probability of it doing so may increase when these occur at a strong support or resistance level . A common mistake new traders make is to get into a regular divergence trade too early, assuming it will immediately reverse, but these can continue to form for some time before the trend eventually changes, by using forms of support or resistance as an added confluence, such as when price reaches a moving average, the success rate when trading these patterns may increase.
Typically, traders will manually draw lines across the swing highs and swing lows of both the price chart and the oscillator to see whether they appear to present a divergence, this indicator will draw them for you, quickly and clearly, and can notify you when they occur.
Setting alerts.
With this indicator you can set alerts to notify you when any/all of the above types of divergences occur, on any chart timeframe you choose, and also when the triple timeframe overbought and oversold confluences occur.
Configurable pivot period.
You can adjust the default pivot period values to suit your prefered trading style and timeframe. If you like to trade a shorter time frame, lowering the default lookback values will make the divergences drawn more sensitive to short term price action. By default, this indicator has enabled the automatic adjustment of the pivot periods for 4 configurable timeframes, in a bid to optimise the divergences drawn when the indicator is loaded onto any of the 4 timeframes. These timeframes and the auto adjusted pivot periods on each of them can also be reconfigured within the settings menu.
Disclaimer: This script includes code adapted from the Divergence for Many Indicators v4 by LonesomeTheBlue . With special thanks.
Relative Bi-Directional Volatility RangeThe basic math behind this Indicator is very similar to the math behind the Relative Strength Index without using a standard deviation as used for the Relative Volatility Index. The Volatility Range is calculated by utilizing the highs and lows. However not in the same way as in the Relative Volatility Index. This approach leads to different values, but the overall result clearly reveals the intrinsic Volatility of the chart, so the user can be aware, when something fundamentally is going on behind the scenes. If the Volatility rises on positive and negative range (-100 to 100) it implies that something fundamental is changing.
An advantage of using this kind of calculation is the possibility of separating the data into positive (buy pressure) and negative (sell pressure) components. The bi-directional character shows a slightly overhang in one of the directions, which can be used to detect a trend. A Moving Average of the users choice shell smoothen the overhang of the Relative Bi-Directional Volatility and show a trend direction. Similar to the math of the Relative Strength Index as standard a Relative Moving Average is preferred. If the Moving Average is in the positive range (0 to 100) it indicates a bullish trend, else if the Moving Average is in the negative range (0 to -100) it indicates a bearish trend. External Indicators can use a provided Trend Shift Signal which switches from 0 to 1, if the trend becomes bullish or from 0 to -1, if the trend becomes bearish.
The user should know, that in this Indicator the starting point of the Moving Averages always begins at the first bar, because the starting progress is approximated appropriately. Most Moving Averages require a minimum number of bars to be calculated, which is chosen with the Moving Average Length. In this cases the length used will be automatically reduced in the background until the number of bars is sufficient to match the chosen length. So if data history is very short, the Indicator can be used never the less as good as possible.
It is feasible to switch the Indicator on a higher timeframe, while staying in a lower timeframe on the chart. This can be useful for making the indication cleaner, if the Moving Average is to choppy and shows too many false signals. On the other hand the benefit of a higher timeframe (or a higher Moving Average Length) is paid with higher latency of the signaling. So the user has to decide what the best setting in his case is.
This Indicator can be used with all kinds of charts. Even charts with percentage or negative values should work fine.
Zig Zag+ (Macro + Internal Structure Tool)ZigZag+ (Macro + Internal Structure Tool)
ZigZag+ is a simple tool that helps traders to clearly identify and differentiate between macro and internal market structure, to help you keep your bearings of where you are currently in the overall picture.
It is especially difficult to keep your bearings within the larger structural trend when trading the lower timeframes, where for example, a bearish structural trend on a lower timeframe may simply be a retracement of an overall bullish structural trend on a higher timeframe. This indicator primarily aims to help traders maintain awareness of where they are in relationship to the higher timeframe / 'macro' structural trend, and their most significant swing point highs and lows.
The features of this indicator include:
- 2x Zig Zag lines drawn automatically onto your chart. One which has a longer length than the other, which can be used to help identify and differentiate the larger price swings from the smaller price swings found within it. Enabled by default.
- Customisable Zig Zag line color & width settings to help clearly differentiate the higher timeframe 'macro structure' apart from the lower timeframe 'internal structure' within it, enabling it to be tailored to suit your chart colour theme and personal preference.
- Customisable individual length settings for the 2x Zig Zag lines, to allow the fine tuning of each line to any timeframe and asset. By default one lines length is set to a higher value than the other, to illustrate a macro structure (higher length value) as well as the 'internal structure' (lower value length), seen within the larger macro structure.
- Up to a maximum of 500 lines can be drawn meaning you can zoom out considerably, and view historical price action with both Zig Zag lines continuing to print.
- Custom alerts for identifying candlesticks that can offer optimal entries where they are found within valid price markups or markdowns that are already underway. Further details can be found within the tooltips for these signals.
Note: The above list of features are accurate at the time of publishing, but may be updated or added to in future.
Structure
Understanding structure is arguably the foundation of all trading strategies, and therefore very important to understand where you are exactly in the bigger picture, since it can help identify levels at which there is a higher probability of price moving either upward or downward at a given point. Structural trend refers to the typical way that price tends to move in any given trending market, identified by the continuation of higher highs and higher lows in a typical bullish trending market, and lower highs and lower lows in a bearish trending market.
During other times price may not be trending in this way, for example when it is undergoing accumulation or distribution phases, where the consistent higher high & lower low / lower high and lower low patterns will not be evident.
What is Macro Structure?
Macro trend structure refers to the structural trend seen on higher timeframe charts.
What is Internal Structure?
Internal trend structure refers to the structural trend seen on lower timeframe charts, which is found within the higher timeframe structure.
Disclaimer: This indicator is adapted from an original script authored by Tr0sT . With special thanks.
MTF MA Ribbon and Bands + BB, Gaussian F. and R. VWAP with StDev█ Multi Timeframe Moving Average Ribbon and Bands + Bollinger Bands, Gaussian Filter and Rolling Volume Weighted Average Price with Standard Deviation Bands
Up to 9 moving averages can be independently applied.
The length , type and timeframe of each moving average are configurable .
The lines, colors and background fill are customizable too.
This script can also display:
Moving Average Bands
Bollinger Bands
Gaussian Filter
Rolling VWAP and Standard Deviation Bands
Types of Moving Averages:
Simple Moving Average (SMA)
Exponential Moving Average (EMA)
Smoothed Moving Average (SMMA)
Weighted Moving Average (WMA)
Volume Weighted Moving Average (VWMA)
Least Squares Moving Average (LSMA)
Hull Moving Average (HMA)
Arnaud Legoux Moving Average (ALMA)
█ Moving Average
Moving Averages are price based, lagging (or reactive) indicators that display the average price of a security over a set period of time.
A Moving Average is a good way to gauge momentum as well as to confirm trends, and define areas of support and resistance.
█ Bollinger Bands
Bollinger Bands consist of a band of three lines which are plotted in relation to security prices.
The line in the middle is usually a Simple Moving Average (SMA) set to a period of 20 days (the type of trend line and period can be changed by the trader, a 20 day moving average is by far the most popular).
The SMA then serves as a base for the Upper and Lower Bands which are used as a way to measure volatility by observing the relationship between the Bands and price.
█ Gaussian Filter
Gaussian filter can be used for smoothing.
It rejects high frequencies (fast movements) better than an EMA and has lower lag.
A Gaussian filter is one whose transfer response is described by the familiar Gaussian bell-shaped curve.
In the case of low-pass filters, only the upper half of the curve describes the filter.
The use of gaussian filters is a move toward achieving the dual goal of reducing lag and reducing the lag of high-frequency components relative to the lag of lower-frequency components.
█ Rolling VWAP
The typical VWAP is designed to be used on intraday charts, as it resets at the beginning of the day.
Such VWAPs cannot be used on daily, weekly or monthly charts. Instead, this rolling VWAP uses a time period that automatically adjusts to the chart's timeframe.
You can thus use the rolling VWAP on any chart that includes volume information in its data feed.
Because the rolling VWAP uses a moving window, it does not exhibit the jumpiness of VWAP plots that reset.
Made with the help from scripts of: adam24x, VishvaP, loxx and pmk07.
