BTFD strategy [3min]Hello
I would like to introduce a very simple strategy to buy lows and sell with minimal profit
This strategy works very well in the markets when there is no clear trend and in other words, the trend going sideways
this strategy works very well for stable financial markets like spx500, nasdaq100 and dow jones 30
two indicators were used to determine the best time to enter the market:
volume + rsi values
volume is usually the number of stocks or contracts traded over a certain period of time. Thus, it is an important indicator of market activity and liquidity. Each transaction constitutes an individual exchange between the buyer and the seller and constitutes the trading volume of a given instrument or asset.
The RSI measures the strength of uptrends versus downtrends. The signal is the entry or exit of the indicator value of the oversold or overbought level of the market. It is assumed that a value below or equal 30 indicates an oversold level of the market, and an RSI value above or equal 70 indicates an overbought level.
the strategy uses a maximum of 5 market entries after each candle that meets the condition
uses 5 target point levels to close the position:
tp1= 0.4%
tp2= 0.6%
tp3= 0.8%
tp4= 1.0%
tp5= 1.2%
after reaching a given profit value, a piece of the position is cut off gradually, where tp5 closes 100% of the remaining position
each time you enter a position, a stop loss of 5.0% is set, which is quite a high value, however, when buying each, sometimes very active downward price movement, you need a lot of space for market decisions in which direction it wants to go
to determine the level of stop loss and target point I used a piece of code by RafaelZioni , here is the script from which a piece of code was taken
this strategy is used for automation, however, I would recommend brokers that have the lowest commission values when opening and closing positions, because the strategy generates very high commission costs
Enjoy and trade safe ;)
在脚本中搜索"机械革命无界15+时不时闪屏"
Indian Market Sessions for BacktestingThis indicator is designed to increase the quality of your backtesting in the Indian Market.
NSE & BSE run from 9:15 am IST to 3:30 pm IST.
Naturally different times have different kinds of volatility.
On your chart you will find premarked -
Saffron - 9:15 am to 10:30 am - Opening Session - High Volatility Observed Historically
White - 10:35 am to 2:25 pm - Middle Session - Lower Volatility Observed Historically
Green - 2:30 pm to 3:30 pm - Closing Session - Medium to High Volatility Observed Historically
You will also find the start of each session marked with an arrow.
Feel free to change the times from the input settings and the color and visibility from the style settings.
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Usage:
When you backtest any strategies, say moving average crossovers, also mark the sessions in your sheet which will help you further increase accuracy.
Feel free to drop your doubts in the comments.
Volatility Capture RSI-Bollinger - Strategy [presentTrading]- Introduction and how it is different
The 'Volatility Capture RSI-Bollinger - Strategy ' is a trading strategy that combines the concepts of Bollinger Bands (BB), Relative Strength Index (RSI), and Simple Moving Average (SMA) to generate trading signals. The uniqueness of this strategy is it calculates which is a dynamic level between the upper and lower Bollinger Bands based on the closing price. This unique feature allows the strategy to adapt to market volatility and price movements.
The market in Crypto and Stock are highly volatile, making them suitable for a strategy that uses Bollinger Bands. The RSI can help identify overbought or oversold conditions in this often speculative market.
BTCUSD 4hr chart
(700.hk) 3hr chart
Remember, the effectiveness of a trading strategy also depends on other factors such as the timeframe used, the specific settings of the indicators, and the overall market conditions. It's always recommended to backtest and paper trade a strategy before using it in live trading.
- Strategy, How it Works
Dynamic Bollinger Band: The strategy works by first calculating the upper and lower Bollinger Bands based on the user-defined length and multiplier. It then uses the Bollinger Bands and the closing price to dynamically adjust the presentBollingBand value. In the end, it generates a long signal when the price crosses over the present Bolling Band and a short signal when the price crosses under the present Bolling Band.
RSI: If the user has chosen to use RSI for signals, the strategy also calculates the RSI and its SMA, and uses these to generate additional long and short signals. The RSI-based signals are only used if the 'Use RSI for signals' option is set to true.
The strategy then checks the chosen trading direction and enters a long or short position accordingly. If the trading direction is set to 'Both', the strategy can enter both long and short positions.
Finally, the strategy exits a position when the close price crosses under the present Bolling Band for a long position, or crosses over the present Bolling Band for a short position.
- Trade direction
The strategy also includes a trade direction parameter, allowing the user to choose whether to enter long trades, short trades, or both. This makes the strategy adaptable to different market conditions and trading styles.
- Usage
1. Set the input parameters as per your trading preferences. You can choose the price source, the length of the moving average, the multiplier for the ATR, whether to use RSI for signals, the RSI and SMA periods, the bought and sold range levels, and the trading direction.
2. The strategy will then generate buy and sell signals based on these parameters. You can use these signals to enter and exit trades.
- Default settings
1. Source: hlc3
2. Length: 50
3. Multiplier: 2.7183
4. Use RSI for signals: True
5. RSI Period: 10
6. SMA Period: 5
7. Bought Range Level: 55
8. Sold Range Level: 50
9. Trade Direction: Both
- Strategy's default Properties
1. Default Quantity Type: 'strategy.percent_of_equity'
2. commission_value= 0.1, commission_type=strategy.commission.percent, slippage= 1: These parameters set the commission and slippage for the strategy. The commission is set to 0.1% of the trade value, and the slippage (the difference between the expected price of a trade and the price at which the trade is executed) is set to 1.
3. default_qty_type = strategy.percent_of_equity, default_qty_value = 15: These parameters set the default quantity for trades. The default_qty_type is set to strategy.percent_of_equity, which means that the size of each trade will be a percentage of the account equity. The default_qty_value is set to 15, which means that each trade will be 15% of the account equity.
4. initial_capital= 10000: This parameter sets the initial capital for the strategy to $10,000.
Inside Candle by HarshiniThe concept behind this indicator is that the inside candle indicates a pause in the current move and the following candle after inside candle will indicate the direction of the next move. This indicator informs you when an inside candle is formed and based on the next candle, it gives you buy/sell signal.
When an inside candle is formed, a label will appear above the candle, which makes it very easy to identify the inside candle in live charts. Once the inside candle is formed, the Buy/Sell signal depends on the next candle. If the candle formed after the inside candle gives a breakout above then "Buy" signal is indicated, you can take a trade with 1:2 risk reward. Similarly if the next candle gives a breakout below, then a "Sell" signal is generated and you can take a sell with 1:2 risk reward. This indicator can be applied to any chart like stocks, crypto, commodities etc...
Here's how you can trade using this indicator:
1) Apply this indicator in a 15 mins time frame :
Even though this indicator identifies inside candle formation in almost every time frame, it works very well when applied to a 15 mins chart.
2) Always keep minimum 1:2 Risk Reward :
While taking trades initially, stick on to 1:2 risk reward. If there are other confluences as well along with the inside candle, you can book target accordingly.
Note : It is observed that this indicator works well in a trending market and not in ranging bound market.
RSI Divergence Screener by zdmreThis screener tracks the following for up to 20 assets:
-All selected tickers will be screened in same timeframes (as in the chart).
-Values in table indicate that how many days passed after the last Bullish or Bearish of RSI Divergence.
For example, when BTCUSDT appears Bullish-Days Ago (15) , Bitcoin has switched to a Bullish Divergence signal 15 days ago.
Thanks to @QuantNomad and @MUQWISHI for building the base for this screener.
*Use it at your own risk
Note:
Screener shows the information about the RSI Divergence Scanner by zdmre with default settings.
Based indicator:
RSI Dot Party - All Lengths From 1 To 120The RSI Dot Party indicator displays all RSI lengths from 1 to 120 as different colored dots on the chart.
🔶 Purpose
Show the reversal point of price action to time entries and exits.
🔶 USAGE
When a dot displays it is a indication of the reversal of the price/trend. The larger the dot the more likely it is to reverse.
The Default settings generates dots for extreme cases where the RSI is over = 90 or under = 10 for every RSI length in the range of 1-120.
Example if the RSI of length 1 or 2 or 3 or 4 or ... or 15 or 16 or 17 or ... or 80 or 81 or 82 or ... if any of does RSI crosses a boundary a dot is shown.
A boundary is the over/under the RSI oscillates in.
Customize the settings until the dots match up with the high and lows of past price action.
🔶 SETTINGS
🔹 Source
Source 1: Is the First Source RSI is calculated from
Source 2: Is the Second Source RSI is calculated from
🔹 Meta Settings
Hours back to draw: To speed up the script calculate it only draws a set number of hours back, default is 300 hours back in time to draw then it cuts off.
Show Dots: Show or disable dots
Show Bar Color: Color the bars for each RSI incident
Filter Cross: Filters and only shows dots when the RSI crosses above or bellow a boundary. If not all candles above or bellow the boundaries will display a dot.
Dots Location Absolute: Instead of showing the dots above or bellow the candle, the dots will show up on the top and bottom of the window.
🔹 7 RSI Groups
There are a total of 7 RSI colors.
Range Very Tiny: Default Color Green
Range Tiny: Default Color Purple
Range Small: Default Color Yellow
Range Normal: Default Color Red
Range Large: Default Color Blue
Range Huge: Default Color Dark Purple
Range Very Huge: Default Color White
🔹 RSI Group Settings
Hi/Low Color: Change the Color of that group.
Start/End: The Start and End range of this RSI color. Example if start = 5 and end = 10 the RSI of 5,6,7,8,9,10 will be displayed on the chart for that color, if any of does RSI goes above or bellow the boundary a dot is displayed on that candle.
Delay: The RSI needs to be above or bellow a boundary for x number of candles before displaying a dot. For example if delay = 2 and the RSI is over = 70 for 2 candles then it will display a dot.
Under/Over: Boundaries that indicate when to draw a dot, if over = 70 and RSI crosses above 70 a dot is displayed.
🔹 Show
Section that allows you to disable RSI grounds you dont want to see, this also removes them from the alert signal generated.
Show Low: Show or disable Low RSI dots
Show High: Show or disable High RSI dots
🔶 ALERTS
Alert for all New RSIs Dots Created in real time
The alert generated depends on what groups are showing or not, if the green group is disabled for example the alert will not be generated.
🔶 Warning
When a dot shows up it can continue moving. For example if a purple dot shows itself above a 15 minute candle, if that candle/price continue to extend up the dot will move up with it.
Dots can also disappear occasionally if the RSI moves in and out of a boundary within that candles life span.
🔶 Community
I hope you guys find this useful, if you have any questions or feature requests leave me a comment! Take care :D
Positive Volatility and Volume GaugeThis is my first published script. It is a real volatility gauge that allows the user to see the real volatility of a given candle on the 15-min time frame. It also has the SMA of real volatility and volume available.
It provides the user to identify high volatility points that can lead to reversals back to the mid-point of said high volatility.
You can change the threshold of the signal line. For the 15-min time frame, I suggest that the 1.5-2.5 threshold be used for the best view.
Good luck and let me know if you have any questions or suggestions. I'm always open to learning.
Thank you!
Initial Balance Panel Strategy for BitcoinInitial Balance Strategy
Initial Balance Strategy uses a source code of "Initial Balance Monitoring Panel" that build from "Initial Balance Markets Time Zones - Overall Highest and Lowest".
Initial Balance is based on the highest and lowest price action within the first 60 minutes of trading. Reading online this can depict which way the market can trend for the session. More information about Initial Balance Panel you can read at the end of the article.
Strategy idea
The main idea is to catch the trend move when most of the 16 Crypto pairs break the Low or High levels together. I found good results when 15 of 16 pairs is break that levels and after we manage the trade within some trail stop indicator, I choose Volatility Stop for this strategy.
Additional Strategy idea
The second one idea that was not made is to catch the pullback after fully green/red zones in Initial Balance Panel become white. That mean the main trend can be finished and we can try to catch good pullback in opposite direction.
Binance Crypto pairs
The strategy use the 16 default Crypto currencies pairs from the Binance. As additional variations of the strategy can be changing the currencies pairs and their number.
List of default pairs:
BINANCE:BTCUSDT, BINANCE:ETHUSDT, BINANCE:EOSUSDT, BINANCE:LTCUSDT, BINANCE:XRPUSDT, BINANCE:DASHUSDT, BINANCE:IOTAUSDT, BINANCE:NEOUSDT, BINANCE:QTUMUSDT, BINANCE:XMRUSDT, BINANCE:ZECUSDT, BINANCE:ETCUSDT, BINANCE:ADAUSDT, BINANCE:XTZUSDT, BINANCE:LINKUSDT, BINANCE:DOTUSDT
Summary
The strategy works very well for a buy trades with settings 15 crypto pairs of 16 that follow the trend with breaking the long initial balance level.
Initial Balance Monitoring Panel
Allows you to have an instant view of 16 Crypto pairs within a monitoring panel, monitoring Initial Balance (Asia, London, New York Stock Exchanges).
The code can easily be changed to suit the crypto pairs you are trading.
The setup of my chart would also include this indicator and the "Initial Balance Markets Time Zones - Overall Highest and Lowest" (with all IBs enabled) as shown above.
Initial Balance is based on the highest and lowest price action within the first 60 minutes of trading. Reading online this can depict which way the market can trend for the session.
The indicator has been coded for Crypto (so other symbols may not work as expected).
Though Initial Balance is based off the first 60 minutes of the trading markets opening, but Crypto is 24/7, this indicator looks at how Asia, London and New York Stock Exchanges opening trading can affect Crypto price action.
Source: Initial Balance Monitoring Panel
Buying/Selling Pressure Cycle (PreCy)No lag estimation of the buying/selling pressure for each candle.
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WHY PreCY?
How much bearish pressure is there behind a group of bullish candles ?
Is this bearish pressure increasing?
When might it overcome the bullish pressure?
Those were my questions when I started this indicator. It lead me through the rabbit hole, where I discovered some secrets about the market. So I pushed deeper, and developped it a lot more, in order to understand what is really happening "behind the scene".
There are now 3 ways to read this indicator. It might look complicated at first, but the reward is to be able to anticipate and understand a lot more.
You can show/hide all the plots in the settings. So you can choose the way you prefer to use it.
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FIRST WAY TO READ PreCy : The SIGNAL line
Go in the settings of PreCy, in "DISPLAY", uncheck "The pivot lines of the SIGNAL" and "The CYCLE areas". Make sure "The SIGNAL line" is checked.
The SIGNAL shows an estimation of the buying/selling pressure of each candle, going from 100 (100% bullish candle) to -100 (100% bearish candle). A doji would be shown close to zero.
Formula: Estimated % of buying pressure - Estimated % of selling pressure
It is a very choppy line in general, but its colors help make sense of it.
When this choppiness alternates between the extremes, then there is not much pressure on each candle, and it's very unpredictable.
When the pressure increases, the SIGNAL's amplitude changes. It "compresses", meaning there is some interest in the market. It can compress by alternating above and below zero, or it can stay above zero (bullish), or below zero (bearish) for a while.
When the SIGNAL becomes linear (in opposition to choppy), there is a lot of pressure, and it is directional. The participants agree for a move in a chosen direction.
The trajectory of the SIGNAL can help anticipate when a move is going to happen (directional increase of pressure), or stop (returning to zero) and possibly reverse (crossing zero).
Advanced uses:
The SIGNAL can make more sense on a specific timeframe, that would be aligned with the frequency of the orders at that moment. So it is a good idea to switch between timeframes until it gets less choppy, and more directional.
It is interesting to follow any regular progression of the SIGNAL, as it can reveal the intentions of the market makers to go in a certain direction discretely. There can be almost no volume and no move in the price action, yet the SIGNAL gets linear and moves away from one extreme, slowly crosses the zeroline, and pushes to the other extreme at the same time as the amplitude of the price action increases drastically.
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SECOND WAY TO READ PreCy : The PIVOTS of the SIGNAL line
Go in the settings of PreCy, in "DISPLAY", and uncheck "The CYCLE areas". Make sure "The SIGNAL line" and "The pivot lines of the SIGNAL" are checked.
The PIVOTS help make sense of the apparent chaos of the SIGNAL. They can reveal the overall direction of the choppy moves.
Especially when the 2 PIVOTS lines are parallel and oriented.
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THIRD WAY TO READ PreCy : The CYCLE
Go in the settings of PreCy, in "DISPLAY", and uncheck "The SIGNAL line" and "The pivot lines of the SIGNAL". Make sure "The CYCLE areas" is checked.
The CYCLE is a Moving Average of the SIGNAL in relation to each candle's size.
Formula: 6 periods Moving Average of the SIGNAL * (body of the current candle / 200 periods Moving Average of the candle's bodies)
The result goes from 200 to -200.
The CYCLE shows longer term indications of the pressures of the market.
Analysing the trajectory of the CYCLE can help predict the direction of the price.
When the CYCLE goes above or below the gray low intensity zone, it signals some interest in the move.
When the CYCLE stays above 100 or below -100, it is a sign of strength in the move.
When it stayed out of the gray low intensity zone, then returns inside it, it is a strong signal of a probable change of behavior.
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ALERTS
In the settings, you can pick the alerts you're interested in.
To activate them, right click on the chart (or alt+a), choose "Add alert on Buying/Selling Pressure Cycle (PreCy)" then "Any alert()", then "Create".
Feel free to activate them on different timeframes. The alerts show which timeframe they are from (ex: "TF:15" for the 15 minutes TF).
I have added a lot more conditions to my PreCy, taken from FREMA Trend, for ex. You can do the same with your favorite scripts, to make PreCy more accurate for your style.
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Borrowed scripts:
To estimate the buying and selling pressures, PreCy uses the wicks calculations of "Volume net histogram" by RafaelZioni
To filter the alerts, PreCy uses the calculations of "Amplitude" by Koholintian:
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DO NOT BASE YOUR TRADING DECISIONS ON 1 SINGLE INDICATOR'S SIGNALS.
Always confirm your ideas by other means, like price action and indicators of a different nature.
Supply and DemandThis is a "Supply and Demand" script designed to help traders spot potential levels of supply (resistance) and demand (support) in the market by identifying pivot points from past price action.
Differences from Other Scripts:
Unlike many pivot point scripts, this one offers a greater degree of customization and flexibility, allowing users to determine how many ranges of pivot points they wish to plot (up to 10), as well as the number of the most recent ranges to display.
Furthermore, it allows users to restrict the plotting of pivot points to specific timeframes (15 minutes, 30 minutes, 1 hour, 4 hours, and daily) using a toggle input. This is useful for traders who wish to focus on these popular trading timeframes.
This script also uses the color.new function for a more transparent plotting, which is not commonly used in many scripts.
How to Use:
The script provides two user inputs:
"Number of Ranges to Plot (1-10)": This determines how many 10-bar ranges of pivot points the script will calculate and potentially plot.
"Number of Last Ranges to Show (1-?)": This determines how many of the most recent ranges will be displayed on the chart.
"Limit to specific timeframes?": This is a toggle switch. When turned on, the script only plots pivot points if the current timeframe is one of the following: 15 minutes, 30 minutes, 1 hour, 4 hours, or daily.
The pivot points are plotted as circles on the chart, with pivot highs in red and pivot lows in green. The transparency level of these plots can be adjusted in the script.
Market and Conditions:
This script is versatile and can be used in any market, including Forex, commodities, indices, or cryptocurrencies. It's best used in trending markets where supply and demand levels are more likely to be respected. However, like all technical analysis tools, it's not foolproof and should be used in conjunction with other indicators and analysis techniques to confirm signals and manage risk.
A technical analyst, or technician, uses chart patterns and indicators to predict future price movements. The "Supply and Demand" script in question can be an invaluable tool for a technical analyst for the following reasons:
Identifying Support and Resistance Levels : The pivot points plotted by this script can act as potential levels of support and resistance. When the price of an asset approaches these pivot points, it might bounce back (in case of support) or retreat (in case of resistance). These levels can be used to set stop-loss and take-profit points.
Timeframe Analysis : The ability to limit the plotting of pivot points to specific timeframes is useful for multiple timeframe analysis. For instance, a trader might use a longer timeframe to determine the overall trend and a shorter one to decide the optimal entry and exit points.
Customization : The user inputs provided by the script allow a technician to customize the ranges of pivot points according to their unique trading strategy. They can choose the number of ranges to plot and the number of the most recent ranges to display on the chart.
Confirmation of Other Indicators : If a pivot point coincides with a signal from another indicator (for instance, a moving average crossover or a relative strength index (RSI) divergence), it could provide further confirmation of that signal, increasing the chances of a successful trade.
Transparency in Plots : The use of the color.new function allows for more transparent plotting. This feature can prevent the chart from becoming too cluttered when multiple ranges of pivot points are plotted, making it easier for the analyst to interpret the data.
In summary, this script can be used by a technical analyst to pinpoint potential trading opportunities, validate signals from other indicators, and customize the display of pivot points to suit their individual trading style and strategy. Always remember, however, that no single indicator should be used in isolation, and effective risk management strategies should always be employed.
RSI, SRSI, MACD and DMI cross - Open source codeHello,
I'm a passionate trader who has spent years studying technical analysis and exploring different trading strategies. Through my research, I've come to realize that certain indicators are essential tools for conducting accurate market analysis and identifying profitable trading opportunities. In particular, I've found that the RSI, SRSI, MACD cross, and Di cross indicators are crucial for my trading success.
Detailed explanation:
The RSI is a momentum indicator that measures the strength of price movements. It is calculated by comparing the average of gains and losses over a certain period of time. In this indicator, the RSI is calculated based on the close price with a length of 14 periods.
The Stochastic RSI is a combination of the Stochastic Oscillator and the RSI. It is used to identify overbought and oversold conditions of the market. In this indicator, the Stochastic RSI is calculated based on the RSI with a length of 14 periods.
The MACD is a trend-following momentum indicator that shows the relationship between two moving averages of prices. It consists of two lines, the MACD line and the signal line, which are used to generate buy and sell signals. In this indicator, the MACD is calculated based on the close price with fast and slow lengths of 12 and 26 periods, respectively, and a signal length of 9 periods.
The DMI is a trend-following indicator that measures the strength of directional movement in the market. It consists of three lines, the Positive Directional Indicator (+DI), the Negative Directional Indicator (-DI), and the Average Directional Index (ADX), which are used to generate buy and sell signals. In this indicator, the DMI is calculated with a length of 14 periods and an ADX smoothing of 14 periods.
The indicator generates buy signals when certain conditions are met for each of these indicators.
1) For the RSI, a buy signal is generated when the RSI is below or equal to 35 and the Stochastic RSI %K is below or equal to 15, or when the RSI is below or equal to 28 the Stochastic RSI %K is below or equal to 15 or when the RSI is below or equal to 25 and the Stochastic RSI %K is below or equal to 10 or when the RSI is below or equal to 28.
2) For the MACD, a buy signal is generated when the MACD line is below 0, there is a change in the histogram from negative to positive, the MACD line and histogram are negative in the previous period, and the current histogram value is greater than 0.
3) For the DMI, a buy signal is generated when the Positive Directional Indicator (+DI) crosses above the Negative Directional Indicator (-DI), and the -DI is less than the +DI.
The indicator generates sell signals when certain conditions are met for each of these indicators:
1) For the RSI, a sell signal is generated when the RSI is above or equal to 75 and the Stochastic RSI %K is above or equal to 85, or when the RSI is above or equal to 80 and the Stochastic RSI %K is above or equal to 85, or when the RSI is above or equal to 85 and the Stochastic RSI %K is above or equal to 90 or when the RSI is above or equal to 82.
2)For the MACD, a sell signal is generated when the MACD line is above 0, there is a change in the histogram from positive to negative, the MACD line and histogram are positive in the previous period, and the current histogram value is less than the previous histogram value. On the other hand, a buy signal is generated when the MACD line is below 0, there is a change in the histogram from negative to positive, the MACD line and histogram are negative in the previous period, and the current histogram value is greater than the previous histogram value.
3)For the DMI a bearish signal is generated when plusDI crosses above minusDI, indicating that bulls are losing strength and bears are taking control.
The indicator uses a combination of these four indicators to generate potential buy and sell signals. The buy signals are generated when RSI and SRSI values are in oversold conditions, while sell signals are generated when RSI and SRSI values are in overbought conditions. The indicator also uses MACD crossovers and DMI crossovers to generate additional buy and sell signals.
When a signal is strong?
The use of multiple signals within a specific timeframe can increase the accuracy and reliability of the signals generated by this indicator. It is recommended to look for at least two signals within a range of 5-8 candles in order to increase the probability of a successful trade.
Why it's original?
1) There is no indicator in the library that combine all of these indicators and give you a 360 view
2)The combination of the RSI, Stochastic RSI, MACD, and DMI indicators in a single script it's unique and not available in the libray.
3)The specific parameters and conditions used to calculate the signals may be unique and not found in other scripts or libraries.
4)The use of plotshape() to plot the signals as shapes on the chart may be unique compared to other scripts that simply plot lines or bars to indicate signals.
5)The use of alertcondition() to trigger alerts based on the signals may be unique compared to other scripts that do not have custom alert functionality.
Keep attention!
It is important to note that no trading indicator or strategy is foolproof, and there is always a risk of losses in trading. While this indicator may provide useful information for making conclusions, it should not be used as the sole basis for making trading decisions. Traders should always use proper risk management techniques and consider multiple factors when making trading decisions.
Support me:)
If you find this new indicator helpful in your trading analysis, I would greatly appreciate your support! Please consider giving it a like, leaving feedback, or sharing it with your trading network. Your engagement will not only help me improve this tool but will also help other traders discover it and benefit from its features. Thank you for your support!
Kitchen [ilovealgotrading]
OVERVIEW:
Kitchen is a strategy that aims to trade in the direction of the trend by using supertrend and stochRsi data by calculating at different time values.
IMPLEMENTATION DETAILS – SETTINGS:
First of all, let's understand the supertrend and stocrsi indicators.
How do you read and use Super Trend for trading ?
The price is often going upwards when it breaks the super trend line while keeping its position above the indication level.
When the market is in a bullish trend, the indicator becomes green. The indicator level will act as trendline support in such a scenario. The color of the indicator changes to red to indicate a negative trend once the price crosses the support line. The price uses the super trend level as a trendline resistance during a bearish move.
In our strategy, if our 1-hour and 4-hour supertrend lines show the up or down train in the same direction at the same time, we can assume that a train is forming here.
Why do I use the time of 1 hour and 4 hours ?
When I did a backtest from the past to the present, I discovered that the most accurate and consistent time zones are the 1 hour and 4 hour time zones.
By the way we can change our short term timeframe(1H) and long term timeframe(4H) from settings panel.
How do you read and use the Stoch-RSI Indicator?
This indicator analyzes price dynamics automatically to detect overbought and oversold locations.
The indicator includes:
- The primary line, which typically has values between 0 and 100;
- Two dynamic levels for overbought and oversold conditions.
IF our stoch-rsi indicator value has fallen below our lower boundary line, the oversold event has been observed in the price, if our stoch-rsi value breaks up our bottom line after becoming oversold, we think that the price will start the recovery phase.(The case is also true for the opposite.)
However, this does not always apply and we need additional approvals, Therefore, our 1H and 4H supertrrend indicator provides us with additional confirmation.
Buy Condition:
Our 1H(short term) and 4H(long term) supertrrend indicator, has given the buy signal(green line and yellow line), and if our stochrsi indicator has broken our oversold line up on the past 15 bars, the buy signal is formed here.
Sell Condition:
Our 1H(short term) and 4H(long term) supertrrend indicator, has given the sell signal(red line and orange line), and if our stochrsi indicator has broken our overbuy line down on the past 15 bars, the sell signal is formed here.
Stop Loss or Take Profit Conditions:
Exit Long Senerio:
All conditions are completed, the buy signal has arrived and we have entered a LONG trade, the 1-hour supertrend line follows the price rise(yellow line), if the price breaks below the 1-hour super trend line and a sell condition occurs for 1H timeframe for supertrend indcator, LONG trade will exit here.
Exit Short Senerio:
All conditions are completed, the Sell signal has arrived and we have entered a SHORT trade, the 1-hour supertrend line follows the price down(orange line), if the price breaks up the 1-hour super trend line and a buy condition occurs for 1H timeframe for supertrend indcator, SHORT trade will exit here.
What can you change in the settings panel?
1-We can set Start and End date for backtest and future alarms
2-We can set ATR length and Factor for supertrend indicator
3-We can set our short term and long term timeframe value
4-We can set StochRsi Up and Low limit to confirm buy and sell conditions
5-We can set stochrsi retroactive approval length
6-We can set stochrsi values or the length
7-We can set Dollar cost for per position
8- We can choose the direction of our positions, we can set only LONG, only SHORT or both directions.
9-IF you want to place automatic buy and sell orders with this strategy, you can paste your codes into the Long open-close or Short open-close message sections.
For example
IF you write your alert window this code {{strategy.order.alert_message}}.
When trigger Long signal you will get dynamically what you pasted here for Long Open Message
ALSO:
Please do not open trades without properly managing your risk and psychology!!!
If you have any ideas what to add to my work to add more sources or make calculations cooler, suggest in DM .
Pivot Highs&lows: Short/Medium/Long-term + Spikeyness FilterShows Pivot Highs & Lows defined or 'Graded' on a fractal basis: Short-term, medium-term and long-term. Also applies 'Spikeyness' condition by default to filter-out weak/rounded pivots
ES1! 4hr chart (CME) shown above, with lookback = 15; clearly identifying the major highs & lows on the basis of how they are fractally 'nested' within lesser Pivots.
-- in the above chart Short term pivot highs (STH) are simply represented by green 'ʌ', and short-term pivot lows (STL) are simply represented by orange 'v'.
//Basics: (as applying to pivot highs, the following is reversed for pivot lows)
-Short term highs (STH) are simple pivot highs, albeit refined from standard with the 'spikeyness' filter.
-Medium-term highs (MTH) are defined as having a lower STH on either side of them.
-Long-term highs (LTH) are defined as having a lower MTH on either side of them.
//Purpose:
-Education: Quick and easy visualization of the strength or importance of a pivot high or low; a way of grading them based on their larger context.
-Backtesting: use in combination with other trading methods when backtesting to see the relative significance and price sensitivity of LTHs/LTLs compared to lower grade highs and lows.
//Settings:
-Choose Pivot lookback/lookforward bars: One setting, the basis from which all further pivot calculations are done.
-Toggle on/off 'Spikeyness' condition to filter-out weak/rounded/unimpressive pivot highs or lows (default is ON).
-Toggle on/off each of STH, MTH, LTH, STL, MTL, LTL; and choose label text-styles/colors/sizes independently.
-Set text Vertically, horizonally, or simply use 'ʌ' or 'v' symbols if you want to declutter your chart.
//Usage notes:
-Pivots take time to print (lookback bars must have elapsed before confirmation). Fractally nested pivots as here (i.e. a LTH), take even longer to print/confirm, so please be patient.
-Works across timeframes & Assets. Different timeframes may require slightly tweaked lookback/forward settings for optimal use; default is 15 bars.
Example usage with just symbolic labels short-term, med-term, long-term with 1x, 2x and 3x ʌ/v respectively:
Leveraged Share Conversion IndicatorHello everyone,
Releasing my leveraged share conversion indicator.
I noticed that the option traders have all the fun and resources but the share traders don't really have many resources in terms of adjusting or profits on leveraged and inverse shares. So, I decided to change that this this indicator!
What it does:
In a nut shell, the calculator converts one share to the price of another through the use of a regression based analysis.
There are multiple pre-stored libraries available in the indicator, including IWM, SPY, BTC and QQQ.
However, if the ticker you want to convert is not in one of the pre-defined libraries, you can select "Use Alternative Ticker" and indicate the stock you wish to convert.
Using Libraries:
If the conversion you want is available in one of the libraries, simply select the conversion you would like. For example, if you want to convert SPY to SPXU, select that conversion. The indicator will then launch up the conversion results which it will display in a dashboard to the right and will also display the plotted conversion on a chart (see imagine below:
In the dashboard, the indicator will show you:
a) The conversion result: This is the most likely price based on the analysis
b) The standard error: This is the degree of error within the conversion. This is the basis of the upper and lower bands. In statistics, we can add and subtract the standard error from the likely result to get the "Upper" and "Lower" Confidence levels of assessment. This is just a fancy way of saying the range in which our predicted result will fall. So, for example, in the image above it shows you the price of SPXU is assessed to be around 16$ based on SPY's price. The standard error range is 15-17. This means that, the majority of the time, based on this SPY close price, SPXU should fall between 15-17$ with the most likely result being the 16$ range.
Why is there error?
Because leveraged shares have an inherent decay in them. The degree of decay can be captured utilizing the standard error. So at any given time, the small changes in price fluctuations caused by the fact that the share is leveraged can be assessed and displayed using standard error measurements.
c) The current correlation: This is important! Because if the stocks are not strongly correlated, it tells you there is a problem. In general, a perfect correlation is 1 or -1 (perfectly negative correlation or inverse correlation) and a bad correlation is anything under 0.5 or -0.5. So, for an INVERSE leveraged share, you would expect the correlation to read a negative value. Ideally -1. Because the inverse share is doing the opposite of the underlying (if the underlying goes up, the inverse goes down and vice versa). For a non-inverse leveraged share, the correlation should read a positive value. As the underlying goes up, so too does the leveraged.
Manual Conversion using Library:
If you are using a pre-defined library but want to convert a manual close price, simply select "Enable manual conversion" at the bottom of the settings and then type in the manual close price. If you are converting SPY to SPXU, type in the manual close price of SPY to get the result in SPXU and vice versa.
Using an Alternative Ticker:
If the ticker you want is not available in a pre-defined library (i.e. UDOW, BOIL, APPU, TSLL, etc.), simply select "Use Alternative Ticker" in the settings menu. When you select this, make sure your chart is set to the dominant chart. The "Dominant chart" is the chart of the underlying. So, if you want TSLA to TSLL, be sure you have the TSLA chart open and then set your Alternative Ticker to TSLL or TSLQ.
The process of using an Alternative Ticker remains the same. If you wish to enter a manual close price, simply select "Enable Manual Conversion".
Special Considerations:
The indicator uses 1 hour candles. Thus, please leave your dominant chart set on the 1 hour time frame to avoid confusing the indicator.
The lookback period of the manual conversion is 10, 1 hour candles. As such, the results should not be used to make longer term predictions (i.e. anything over 6 months is pushing the capabilities of a manual conversion but fair game for the pre-defined library conversions which use more longer-term data).
You can technically use the indicator to make assessments between 2 separate equities. For example, the relationship between QQQ and ARKK, SPY and DIA, IWM and SPY, etc. If there is a good enough correlation, you can use it to make predictions of the opposing ticker. For example, if DIA goes to 340, what would SPY likely do? And vice versa.
As always, I have prepared a tutorial and getting started video for your reference:
As always, let me know your questions and requests/recommendations for the indicator below. This indicator is my final reference indicator in my 3 part reference indicator release. I will be going back over the feedback to make improvements based on the suggestions I have received. So please feel free to leave any suggestions here and I will take them into consideration for improvement!
Thank you for checking this out and as always, safe trades!
[Uhokang] Bollinger Band BB EMA SMMA SMA Multy timeframeYou can view indicators from the specified upper timeframe together.
( Bollinger Bands, SMMA, EMA, SMA )
If it is based on a 1-hour bar, you can see indicators for 4-hour bars and 1-day bars at the same time.
=> =>
Minutes
1 => 5 => 30
2 => 10 => 60
3 => 15 => 90
4 => 20 => 120
5 => 30 => 120
6 => 30 => 120
10 => 60 => 240
15 => 60 => 240
30 => 120 => 480
45 => 180 => 450
over Hours
1 => 4 => D
2 => 8 => 2D
3 => 12 => 3D
4 => D => W
D => W => M
W => M => Y
RSI Multi Symbol/Time Frame DetectorThis code is an implementation of the Relative Strength Index (RSI) indicator, which is a popular momentum indicator used in technical analysis. The RSI measures the strength of an asset's price action and provides information on whether the asset is overbought or oversold. The code also calculates a moving average of the RSI and allows the user to choose the type of moving average to be calculated (SMA, EMA, SMMA, WMA, or VWMA).
The user can select from different time frames (5, 15, 60, or 240), symbols (SP:SPX, OANDA:EURUSD, or OANDA:NZDUSD), RSI lengths, and moving average types and lengths.
The code starts by defining a function called "ma" for calculating different types of moving averages. This function takes as input the source data for the moving average calculation (the RSI), the length of the moving average, and the type of moving average. The function uses a switch statement to return the appropriate calculation based on the inputted moving average type.
Next, the code calculates the RSI and its moving average. The RSI is calculated using the well-known formula for the RSI, which involves calculating the average gains and losses over a specified period of time and then dividing the average gains by the average losses. The moving average is calculated using the "ma" function defined earlier.
Finally, the code allows the user to choose the symbol and time frame to be used in the RSI calculation, as well as the length of the RSI and the moving average, and the type of moving average. The user can choose from three symbols (SP:SPX, OANDA:EURUSD, OANDA:NZDUSD) and four time frames (5, 15, 60, and 240 minutes). The code then uses the "request.security" function to retrieve the RSI calculation for the selected symbol and time frame.
Note: This code is example for you to use multi timeframe/symbol in your indicator or Strategy , also prevent Repainting Calculation
Strategy Myth-Busting #13 - MultiEMA+BXTrender - [SP/MYN]#13 on the Myth-Busting bench, we are automating the "I Found The Highest Win Rate 15 Minute Scalping Trading Strategy Ever" strategy from "TradeIQ" who claims to have backtested this manually and achieved 410% profit over 100 trades within 6 months on Natural Gas with 79 Wins / 21 Losses with an astounding 3.96% Max Drawdown.
It was quite challenging emulating the same subjective EMA pullback logic along with the dependent sequencing of events necessary to enter a trade and we might improve on this to make it better in the future. Super kudos to @spdoinkal who helped with this strategy. If you have ideas on how this could be improved on, would love to hear about them.
As is, we were unable to substantiate similar results to what was manually backtested by TradeIQ, we do however see potential here. Given some optimizations and improvements to the the entry logic accommodating for a wider more variable margin after pullbacks reestablish above/below the fast EMA we think the performance of this strategy could certainly be improved upon. So not sure if we have totally myth busted this completely at this point in time.
This strategy uses a combination of 2 open-source public indicators:
3 EMA's (Trading View Internal)
B-Xtrender by Puppytherapy
Three separate (21), (89) and (200) EMA's are used as a means to confirm and keep entry out of ranged markets. When the 3 EMA's are all clumped up together with no distance it's indicative of a flat or ranged market. This is then used in conjunction with B-XTrender as a means to detect the trend direction. B-XTrender which is a trend following indicator originally published in the IFTA Journal by Bharat Jhunjhunwala. It uses both a short and long term lengths along with a compound EMA used as a means to smooth and sample trend direction.
Trading Rules
15 min candles but other lower time-frames
Stop Loss on previous swing high/low
No Take Profit, Exit on new red/green circles from BX-Trender
Long
EMA Green (21) on top, White (89)in middle and red (200) on bottom and there is distance between EMA's need to be spaced, otherwise in a ranged market
Price action must pull back into 89 EMA (White line) either close or touching it.
Once pullback occurs wait for BX Trender to issue a new green circle and BX Trend line must be green and above 0
Price action must also pull up back above the (Green Line) EMA 21
Short
EMA Red (200) on top, White (89) in middle and Green (21) on bottom and there is distance between EMA's need to be spaced, otherwise in a ranged market
Price action must pull back into 89 EMA (White line) either close or touching it.
Once pullback occurs wait for BX Trender to issue a new red circle and BX Trend line must be red and below 0
Price action must also pull up back below the (green Line) EMA 21
If you know of or have a strategy you want to see myth-busted or just have an idea for one, please feel free to message me.
Strategy Myth-Busting #12 - OSGFC+SuperTrend - [MYN]This is part of a new series we are calling "Strategy Myth-Busting" where we take open public manual trading strategies and automate them. The goal is to not only validate the authenticity of the claims but to provide an automated version for traders who wish to trade autonomously.
Our 12th one is an automated version of the "The Most Powerful Tradingview Buy Sell Signal Indicator " strategy from "Power of Trading" who doesn't make any official claims but watching how he trades with this, it on the surface looked promising. The strategy author uses this on the 15 min strategy on mostly FOREX. Unfortunately as indicated by the backtest results below, we were not able to substantiate any good positive trading metrics from this, be it Profit, Markdown, Num Of Trades etc. This does seem to do okay with some entries but perhaps adding another indicator to this to filter out more noise might make it better. At least how this strategy is presented now, this is not something I recommend anyone use.
This strategy uses a combination of 2 open-source public indicators:
SuperTrend by TradingView Internal
One-Sided Gaussian Filter w/ Channels By Loxx
The SuperTrend indicator and the One-Sided Gaussian Filter complement each other by providing a more complete and accurate picture of market trends. The SuperTrend indicator is used to identify trends. It does this by calculating a moving average of the underlying securities price and then comparing the current price to the moving average. When the current price is above the moving average, the trend is considered bullish, and when it is below, the trend is considered bearish.
The One-Sided Gaussian Filter is a mathematical tool that is used to smooth out fluctuations in financial data. It does this by removing random noise from the data, making it easier to identify patterns and trends.
When the SuperTrend indicator is used in conjunction with the One-Sided Gaussian Filter, the smoothed price data generated by the filter is used as the input for the SuperTrend calculation. This provides a more accurate representation of market trends and helps to eliminate false signals generated by short-term price movements. As a result, the SuperTrend indicator is able to more accurately identify the underlying trend in the market and provide traders with a cleaner and more reliable signal to act upon.
In summary, the SuperTrend indicator and the One-Sided Gaussian Filter complement each other by providing a more accurate and reliable representation of market trends, resulting in improved performance for traders.
If you know of or have a strategy you want to see myth-busted or just have an idea for one, please feel free to message me.
Trading Rules
15 min candles
FOREX or Crypto
Stop loss at swing high/low | 1.5 risk/ratio
Long Condition
SuperTrend and OSGFC generate buy signal
Close Buy on Gaussian generating a sell signal
Short Condition
SuperTrend and OSGFC generate sell signal
Close Buy on Gaussian generating a buy signal
ValueBands for Acceptable P/E/ and P/B# What's this script?
Plot BookValue/share and TangibleBookValue/share
Visualization of Price Bands for Acceptable P/E and P/B
Adaptation to Currency Change
When TTM(FQ) financial data is not available, FY financial data is used to supplement the TTM(FQ) data.
#Parameter
P/E : acceptable price ratio of Earnings per share. Default is 15
P/B : acceptable price ratio of Book value per share. Default is 1.5
P/TB : acceptable price ratio of Tangible Book value per share. Default is 1.5
#Line
## Books
BookValue : book value per share
TangibleBookValue :tangible book value per share
## Acceptable Prices
Acceptable P/E : P/E * EPS
Acceptable P/B : P/B * BVPS
Acceptable P/TB : P/TB * TBVPS
## Geometric mean
GeometricMean(APE&APB) : sqrt(APE*APB). Geometric mean of "Acceptable P/E" and "Acceptable P/B". if PE15 & PB1.5 then GrahamNumber .
GeometricMean(APE&APTB) : sqrt(APE*APTB). Geometric mean of "Acceptable P/E" and "Acceptable P/TB".
## color fill
BV -TBV .Fill color is TBV line
APE -APB .Fill color is the color of the larger APE and APB lines
I am not a programmer, so I can only provide crude functionality, but I hope it will be of some help to you
---------------------
◆これなに
指定したPEやPBの価格帯がチャートにのります
通貨変更に対応したスクリプトがなかったからつくりました
期のデータが無いところは年のデータをミックスして補完して、長短期どちらの検討でも使いやすくしました
プログラマーじゃないから必要なものだけですけど、よかったらつかってみてくださいね
1. 一株当たり純資産の線
2. 一株当たり有形固定資産の線
3. 1と2の間を2の線の色で塗りつぶし
4. 設定画面で指定した許容P/E相当の価格線。デフォルトは15
5. 設定画面で指定した許容P/B相当の価格線。デフォルトは1.5
6. 4と5のあいだを塗りつぶし。大きい値の方の線の色で塗りつぶされます
7. 設定画面で指定した許容P/TB相当の価格線。デフォルトは1.5
8. 4と5の相乗平均。もしPE15,PB1.5にしてたらGrahamNumber 。
9. 4と6の相乗平均
Strategy: Range BreakoutWhat?
In the price action, levels have a significant role to play. Based on the price moving above/below the levels - the underlying instrument shows some price-action in the direction of breakout/breakdown.
There are plenty of ways level can be determined. Levels are the decision point to take a trade or not. But if we make the level derivation complex, then the execution may get hamper.
This strategy script, developed in PineScript v5, is our attempt at solving this problem at the core by providing this simple, yet elegant solution to this problem.
It's essentially an attempt to Trade Simple by drawing logical (horizontal) lines in the chart and take actions, after multiple associated parameters confirmation, on the breakout / breakdown of the levels.
How?
Let us explain how we are drawing the levels.
We are depending on some of the parameters as described below:
Open Range : During intraday movement, often if prices move beyond a particular level, it exibits more movement in the same swing in same direction. We found out, through our back testing for Indian Indices like NSE:NIFTY , NSE:BANKNIFTY or NSE:CNXFINANCE the first 15m (i.e 09:15 AM to 09:30 AM, IST) is one of such range. For Indian stocks, it is 9:15 to 9:45. And for MCX MCX:CRUDEOIL1! it's 5:00 pm to 6:00 pm. There are our first levels.
PDHCL : Previous Day High, Close, Low. This is our next level
VWAP : The rolling VWAP (volume weighted average price)
In the breakout/breakdown of the Open Range and Previous Day High/Low, we are taking the trade decisions as follows using CEST principle:
C onditions :
If current bar's (say you are in 5m timeframe) closing is broken out the Open Range High or Previous Day High, taken a Buy/Long decision (let's say buying a Call Option CE or selling a Put Option PE or buying the future or cash).
If current bar's (say you are in 5m timeframe) closing is broken down the Open Range Low or Previous Day Low, taken a Sell/Short decision (let's say buying a Put Option CE or selling a Call Option PE or selling the future or cash).
Additionally, and optionally (default ON, one can turn off): we are checking various other associated multiple confirmations as follows:
1. Momentum : Checking 14-period RSI value is more than 50 or less than 50 (all parameters like period, OB, OS ranges are configurable through settings)
2. Current bar's volume is more than the last 20 bars volume average. How much more - that multiplier is also configurable. (default is 1)
3. The breakout candle is bullish (green) or bearish (red).
E ntry :
All of these happens only on the closing of the candle . Means: Non Repainting! .
Clearly in the chart we are showing as green up arrow BO (breakout for buy) and red down arrow BD (breakdown for sell) to take your decision process smooth.
So, on the closing of the decision BO/BD candle we are entering the trade (with a thumping heart and nail biting ...)
S top Loss :
We are relying on the time tasted (last 40 years) mechanism of Average True Range (ATR) of default 14 period. This default period is also configurable.
So for Long trades: the 14 period ATR low band is the SL.
For Short trades: the 14 period ATR high band is the SL.
T arget :
We are depending on the thump rule of 1:2 Risk Reward. It's simple and effective. No fancy thing. We are closing the trade on double the favorable price movement compared to the SL placed. Of course, this RR ratio is confiurable from the settings, as usual.
What's Unqiue in it?
The utter simplicity of this trading mechanism. No fancy things like complex chart pattern, OI data, multiple candlestick patterns, Order flow analysis etc.
Simple level determination,
Marking clearly in the chart.
Making each parameter configurable in Settings and showing tooltip adjacent to the parameter to make you understand it better for your customization,
Wait for the candle close, thus eliminating the chances of repainting menace (as much as possible)
Additional momentum and volume check to trade entry confirmation.
Works with normal candlestick (nothing special ones like HA ...)
Showing everything as a Summary Table (which, again can be turned off optionally) overlaying at the bottom-right corner of the chart,
Optionally the Summary Table can be configured to alert you back (say you get it notified in your email or SMS).
That way, a single, simple, effective trade setup will ease your journey as smooth sail as possible.
Mentions
There are plenty of friends from whom time to time we borrowed some of the ideas while working closely together over last one year.
From tradingview community, we took the spirit of @zzzcrypto123 awesome work done long back (in 2020) as the indicator "ORB - Opening Range Breakout". (We tried to reach him for his explicit consent, unable to catch hold of him).
Some other publicly available materials we have consulted to get the additional checks (like RSI, volume).
Lat word
Use it please and thank you for your constant patronage in following us in this awesome platform. Let's keep growing together.
Disclaimer :
This piece of software does not come up with any warrantee or any rights of not changing it over the future course of time.
We are not responsible for any trading/investment decision you are taking out of the outcome of this indicator.
MTF Commodity Oddity Index (CCI+)MTF Commodity Oddity Index (CCI+)
This chart overlay indicator is based upon the Commodity Channel Index (CCI) and can signal multiple triple-timeframe CCI overbought and oversold confluences directly onto your chart, intended for use as a confluence either for reversal trade entries, or potential trade exits, indicating where price may be probable to reverse.
Features include:
- Primary set of fully configurable triple-timeframe overbought and oversold signals, indicating where 3 selected timeframes are all overbought or all oversold at the same time. Enabled by default.
- Secondary set of fully configurable triple-timeframe overbought and oversold signals, indicating where 3 selected timeframes are all overbought or all oversold at the same time. Enabled by default.
- Optional drawing of background colours and/or ribbon seen at bottom of the chart image.
- The default primary MTF #1 timeframes are set to 1 minute, 5 minute and 15 minute. These are highly suitable for low timeframe scalpers trading on < 5m charts, and can often pin point price reversals.
- The default Secondary MTF #2 timeframes are set to 15 minute, 30 minute and 120 minute. These are suitable for both low timeframe scalpers and considerably higher timeframe traders.
- Independent alerts for MTF #1 and MTF #2 triple-timeframe confluences, including options for alerting MTF overbought and MTF oversold individually, as well as an option for alerting either overbought or oversold in a single combined alert.
- Also includes standard configurable CCI options, including CC length and source type.
Note: The features listed above are accurate at the time of publishing but maybe updated or added to in future.
A similar MTF CCI indicator is also available as a panel indicator here .
This indicator is based upon the original MTF Fantastic Stochastic (FS+) available here .
What is the 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, the default threshold settings of this indicator have been increased to provide fewer, stronger signals, especially suited to the low timeframes and highly volatile assets.
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.
Power Of Stocks - Bollinger Band & 5Ema Indicator - Keanu_RiTz
Power of Stocks - Bollinger band & 5ema Strategy
In this script you get to take Buy/Sell trades using the 3 options mentioned below.(Alerts with price levels for buy/sell at , SL & Target are included in this one)
1. Combined Strategy :- uses confirmation from both strategies to trade.
2. Bollinger band Strategy :- use the Bollinger band Strategy to trade.
3. 5ema Strategy :- use the 5ema Strategy to trade.
1. Combined Strategy :-
for Selling :- we will go short/sell only when conditions of both strategies are satisfied.
i.e. when a candle is completely above the upper Bollinger band & completely above the 5ema then it will be our Alert Candle.
We Short/Sell only when the low of the Alert candle is broken or when the candle closes below the close of the Alert Candle.
SL will be above high of the Alert Candle. Target will be minimum 1:3 or as per your emotions.
for Buying:- we will go Long/Buy only when conditions of both strategies are satisfied.
i.e. when a candle is completely below the lower Bollinger band & completely below the 5ema then it will be our Alert Candle.
We go Long/Buy only when the high of the Alert candle is broken or when the candle closes above the close of the Alert Candle.
SL will be below low of the Alert Candle. Target will be minimum 1:3 or as per your emotions.
2. Power of Stocks - Bollinger Band Strategy :-
Bollinger band with standard deviation = 1.5
when a candle is completely above the upper Bollinger band, that candle will be called a signal/alert candle.
Initiate a Sell trade when that alert candles low is broken. SL will be above high of that alert candle.
Risk to reward ratio will be 1:4 i.e. target will be 4 times the SL.
when a candle is completely below the lower Bollinger band, that candle will be called a signal/alert candle.
Initiate a Buy trade when that alert candles high is broken. SL will be below low of that alert candle.
Risk to reward ratio will be 1:4 i.e. target will be 4 times the SL.
other rules for Options buying:- minimum 15min timeframe
The day you initiate the position , you should be in profit above 10%-15% then only you should carry forward that position overnight, otherwise squareoff your trade on that day only.
Buy ATM or slightly OTM, SL max 100 points , target 1:4
for Long-term/Investing :- Minimum Weekly
If candle is outside the lower band then initiate a Buy trade when that candles High is broken. Sl will be below Low of that candle.
for Long-term Target will be according to your emotions.
3. Power of Stocks - 5ema Strategy (target minimum 1:3)
Timeframe -
5 min for Selling (Sell Futures/index/stocks or buy Put)
15 min for Buying (Buy Futures/index/stocks or sell Put)
for selling stocks :-
you should enter trade within 10am , don't look for entries after that time. take only 2 entries a day.
for selling Index(Banknifty) :-
you can take trade at anytime of the day whenever conditions get satisfied. you can take multiple entries in banknifty as it is very volatile.
for options choose atm strikes: selling trade
sl for premium between 200-300 :- 20-30 points SL
sl for premium between 400-500 :- 40-50 points SL
sl for premium between 500-600 :- 50-60 points SL
Subhashish Pani's (power of stocks) 5 EMA Strategy:-
It plots 5 EMA and Buy/Sell signals with Target & Stoploss levels.
What is Subhashish Pani's (power of stocks) 5 EMA Strategy :-
His strategy is very simple to understand. for intraday use 5 minutes timeframe for selling. You can sell futures, sell call or buy Puts in selling strategy.
What this strategy tries to do is , it tries to catch the tops, so when you sell at top & it turns out to be a reversal point then you can get good profit.
this will hit stop losses often, but stop losses are small and minimum target should be 1:3. but if you stay with the trend you can get big profits.
According to Subhashish Pani this strategy has 60% success rate.
Strategy for Selling (Short future/Call/stock or buy Put)
When ever a Candle closes completely above 5 ema (no part of candle should be touching the 5ema), then that candle should be considered as Alert Candle.
If the next candle is also completely above 5 ema and it has not broken the low of previous alert candle, Then the previous Alert Candle should be ignored and the new candle should be considered as new Alert Candle.
so if this goes on then continue shifting the Alert Candle, but whenever the next candle breaks the low of the Alert Candle we should take the Short trade (Short future/Call/stock or buy Put).
Stoploss will be above high of the Alert Candle and minimum target will be 1:3.
Strategy for Buying (Buy future/Call/stock or sell Put)
When ever a Candle closes completely below 5 ema (no part of candle should be touching the 5ema), then that candle should be considered as Alert Candle.
If the next candle is also completely below 5 ema and it has not broken the high of previous alert candle, Then the previous Alert Candle should be ignored and the new candle should be considered as new Alert Candle.
so if this goes on then continue shifting the Alert Candle, but whenever the next candle breaks the high of the Alert Candle we should take the Long trade (Buy future/Call/stock or sell Put).
Stoploss will be below low of the Alert Candle and minimum target will be 1:3.
Buy/Sell with extra conditions :
it just adds 1 more condition to buying/selling
1. checks if closing of current candle is lower than alert candles closing for Selling & checks if closing of current candle is higher than alert candles closing for Buyling.
This can sometimes save you from false moves but by using this, you can also miss out on big moves as you'll enter trade after candle closing instead of entering at break of high/low.
Note :- According to Subhashish Pani Timeframe for intraday buying should be 15 minutes Timeframe.
If you haven't understood the strategy by reading above description, then search for "Subhashish Pani's (power of stocks) 5 EMA Strategy" on YouTube to get a deeper understanding.
Note:- This is not only for Intraday trading , you can use this strategy for Positional/Swing trading as well. If you use this on Monthly Timeframe then it can be very good for Long Term Investing as well.
Rules will be same for all types of trades & Timeframes.
