Wavetrend in Dynamic Zones with Kumo Implied VolatilityI was asked to do one of those, so here we go...
As always free and open source as it should be. Do not pay for such indicators!
A WaveTrend Indicator or also widely known as "Market Cipher" is an Indicator that is based on Moving Averages, therefore its an "lagging indicator". Lagging indicators are best used in combination with leading indicators. In this script the "leading indicator" component are Daily, Weekly or Monthly Pivots . These Pivots can be used as dynamic Support and Resistance , Stoploss, Take Profit etc.
This indicator combination is best used in larger timeframes. For lower timeframes you might need to change settings to your liking.
The general Wavetrend settings are the same that are used in Market Cipher, Market Liberator and such popular indicators.
What are these circles?
-These are the WaveTrend Divergences. Red for Regular-Bearish. Orange for Hidden-Bearish. Green for Regular-Bullish. Aqua for Hidden-Bullish.
What are these white, orange and aqua triangles?
-These are the WaveTrend Pivots. A Pivot counter was added. Every time a pivot is lower than the previous one, an orange triangle is printed, every time a pivot is higher than the previous one an aqua triangle is printed. That mimics a very common way Wavetrend is being used for trading when using those other paid Wavetrend indicators.
What are these Orange and Aqua Zones?
-These are Dynamic Zones based on the indicator itself, they offer more information than static zones. Of course static lines are also included and can be adjusted.
What are the lines between the waves?
-This is a Kumo Cloud Implied Volatility indicator. It is color coded and can be used to indicate if a major market move/bottom/top happened.
What are those numbers on the right?
-The first number is a Bollinger Band indicator that shows if said Bollinger Band is in a state of Oversold/Overbought, the second number is the actual Bollinger Band Width that indicates if the Bollinger Band squeezes, normally that happens right before the market makes an explosive move.
Please keep in mind that this indicator is a tool and not a strategy, do not blindly trade signals, do your own research first! Use this indicator in conjunction with other indicators to get multiple confirmations.
Marketcipher
WaveTrend 4h/24mWaveTrend 4h/24m is a trading tool based on two WaveTrend timeframes.
For this script the WaveTrend calculations made by LazyBear were used. WaveTrend is a widely used indicator for finding direction of an asset.
The strategy is developed by Youtuber Jayson Casper. The main strategy on the 4 hour and 24 minute timeframes, this will be the default timeframes. Timeframes can be adjusted in the indicator interface.
With Jaysons' we wait for both timeframes to have last printed a green dot for longs, and both timeframes to have last printed a red dot for shorts. When this occurs a green diamond will be printed for longs, a red diamond for shorts.
Make sure to always use the chart from the smallest timeframe you're using, so by defaults use the 24 minute chart.
Features of the indicator:
- WaveTrend Timeframe 1 (Blue/Lightblue wave).
- WaveTrend Timeframe 2 (Blue/Purple line with filled background between the lines).
- VWAP (Yellow wave which is turned off by default)
- Green/Red Diamonds
What to look for?
This script is all about the Green and Red Diamonds.
A Green diamond will be printed when on both the 4 hour and 24 minute timeframe the last printed dot was a green dot.
A Red diamond will be printed when on both the 4 hour and 24 minute timeframe the last printed dot was a red dot.
What are the Green and Red Diamonds based on?
When both VWAP timeframes are ABOVE 0, a green diamond will be printed. This is equivalent to the last dot on both WaveTrend timeframes being a green dot.
When both VWAP timeframes are BELOW 0, a red diamond will be printed. This is equivalent to the last dot on both WaveTrend timeframes being a red dot.
Happy Trading!
Orion Algo Strategy v2.0Hi everyone.
I decided to make the latest Orion Algo open to people. I don't have enough time to work on it lately, so I figured it would be best that everyone can have it to work on it. I took out some stuff from the original but it should give an idea on how things work. I made two strategies with this so far so you can use that to come up with your own. I recommend the DCA strategy because it gives you the most bang for Orion Algo's buck. It's pretty good at finding long entries.
Overall I hope you guys like this one. Also, Banano is the best crypto currency :)
-INFO-
Orion Algo is a trading algorithm designed to help traders find the highs and lows of the market before, during, and after they happen. We wanted to give an indicator to people that was simple to use. In fact we created the algorithm in such a way that it currently only needs a single input from the user. Since no indicator can predict the market perfectly, Orion should be used as just another tool (although quite a sharp one) for you to trade with. Fundamental knowledge of price action and TA should be used with Orion Algo.
Being an oscillator, Orion currently has a bias towards market volatility . So you will want to be trading markets over 30% volatility . We have plans to develop future versions that take this into account and adjust automatically for dead conditions. Also, while there are some similarities across all oscillators, what sets ours apart is the prediction curve. The prediction curve looks at the current signal values and gives it a relative score to approximate tops and bottoms 1-2 bars ahead of the signal curve. We also designed a velocity curve that attempts to predict the signal curve 2+ bars ahead. You can find the relative change in velocity in the Info panel. The bottom momentum wave is based on the signal curve and helps find overall market direction of higher time-frames while in a lower one.
Settings and How to Use them:
User Agreement – Orion Algo is a tool for you to use while trading. We aren’t responsible for losses OR the gains you make with it. By clicking the checkbox on the left you are agreeing to the terms.
Super Smooth – Smooths the main signal line based on the value inside the box. Lower values shift the pivot points to the left but also make things more noisy. Higher values move things to the right making it lag a bit more while creating a smoother signal. 8 is a good value to start with.
Theme – Changes the color scheme of Orion.
Dashboard – Turns on a dashboard with useful stats, such as Delta v, Volatility , Rsi , etc. Changing the value box will move the dashboard left and right.
Prediction – A secondary prediction model that attempts to predict a reversal before it happens (0-2bars). This can be noisy some times so make your best judgement. Curve will toggle a curve view of the prediction. Pivots will toggle bull/bear dots.
∆v – Delta v (change in velocity). This shows momentum of the signal. Crossing 0 signals a reversal. If you see the delta v changing direction, it may signify a reversal in the several bars depending on the overall momentum of the market.
Momentum Wave – Uses the signal as a macro trend indicator. Changes in direction of the wave can signify macro changes in the market. Average will toggle an averaging algorithm of the momentum waves and makes it easy to understand.
-STRATEGIES-
Simple - Just buy and sell on the dots
DCA - Uses the settings in the script for entries. If a buy dot appears then it will buy, if the price goes below the percentage it will wait for another dot before entering. This drastically improves DCA potential.
On-chart Wavetrend Divergence with PivotsThis is an OnChart WaveTrend Divergence Indicator with Pivots and Alerts
LazyBears WaveTrend Indicator or also known as "Market Cipher" is an Indicator that is based on Moving Averages, therefore its an "lagging indicator". Lagging indicators are best used in combination with leading indicators. In this script the "leading indicator" component are Daily, Weekly or Monthly Pivots. These Pivots can be used as dynamic Support and Resistance, Stoploss, Take Profit etc.
This indicator combination is best used in larger timeframes. For lower timeframes you might need to change settings to your liking.
What are those circles?
-These are the WaveTrend Divergences. Red for Regular-Bearish. Orange for Hidden-Bearish. Green for Regular-Bullish. Aqua for Hidden-Bullish.
Please keep in mind that this indicator is a tool and not a strategy, do not blindly trade signals, do your own research first! Use this indicator in conjunction with other indicators to get multiple confirmations.
Wolfpack Id with DivergenceThis indicator simply identifies if the markets are in an up or down trend. You should always use it in combination with other indicators, just as Wavetrends.
This indicator is mostly known because of Market Cipher. The script that was published under the name Wolfpack Id is for some reason closed source, but as it turns out there is of course no secret sauce involved, the original indicator goes way back and the thing that was then called Wolfpack Indicator is simply a MACD Signal Line with 3,8 settings. I added a simple divergence hunter for some extra Informations that might help, brought it up to contemporary pinescript standards, added Alerts and made the whole script open source, as it should be and as the original script also once was. Have fun!
Rainbow Indicator - Polfwack ProThis is a reverse engineered completely free Version of an Indicator that you would normally have to spend huge amounts of money on. I personally believe that no one should pay a fortune for access to an Indicator that contains huge amounts of freely available stuff.
This indicator claims to be even better than Market Cipher. Turns out it uses - just as Market Cipher, freely available Indicators and puts them in a nice looking package. I packed in as much as it made sense, the original Indicator is visually very cluttered with - in my opinion, too much random stuff that I have left out for a cleaner look, for example the truckload of entry signals, MFI and that Autotrendline feature that no one really needs because the human brain is way better at drawing lines.
Was is included? From top to bottom:
1st Bar -> Color coded RSI status. It shows Oversold and Overbought, Bullish, Hidden Bullish, Bearish and Hidden Bearish Divergences.
2nd Bar -> Color coded Market Structure Analyser. It shows if the market is currently ranging, bullish or bearish based on calculated pivots and outbreaks of said pivots. Bullish and Bearish breaks are also being printed.
Main Oscillator -> An Awesome Oscillator (AO) that prints bullish, hidden bullish, bearish and hidden bearish divergences as well as positive and negative Pivot Points.
Bollinger Bands -> They are following the AO and are color coded to the long term trend indicator for less visual clutter.
Secondary Oscillator -> Accelerator Oscillator (AC).
3rd Bar -> Color coded longer term trend indicator, it mirrors the color code on the Bollinger Bands. The original uses an ATR-based calculation, but I found a Kumo cloud to be more simple and more reliable for this kind of thing.
4th Bar -> Color coded mirror of the Accelerator Oscillator.
I tried to make the whole Indicator as adjustable as possible, most of the variables can be edited to your liking.
On the internet you can find all sorts of strategies for every single of the included indicators.
I hope that I have saved you at least some money. Good luck.
Multi MA Ribbon +Draws an MA Ribbon that highlights major MA's and for easier visibility separates them into different groups including Custom MA's, Baseline MA's, T Line MA's, Short Term MA's and Long Term MA's.
Choose between 11 different types of MA's thanks to JustUncleL and John F. Ehlers super smoother.
The + is for various signals and alerts derived from Market Cipher / Wave Trend indicators and TCG etc.
Happy Trading and remember just follow the flow of the river!
