KRIPTO TOLGA ÖZEL RSIBu indikatör ile her türlü fiyat hareketini yakalamak mümkün! işlem açmayı düşündüğünüz coin grafiğinde zaman birimini seçin, indikatör de dip ve tepe çizgilerini belirleyin, daha sonra renk değişimi veya al - sat sinyali ile işleme girin, al - sat sinyalleri güçlüdür ona göre ;) renk değişimleri 5 - 15 dakikalık scalp işlemleri için uygundur!
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It's possible to catch any price movement with this indicator! select the time frame in the coin chart you are thinking of trading, define the support and resistance lines in the indicator, and then enter a trade with a color change or buy/sell signal; buy/sell signals are strong, so take note ;) color changes are suitable for scalping trades of 5-15 minutes!
Scalping
VWAP + FVG DetectorA VWAP + FVG Detector is a tool used in trading that combines two concepts to identify potential trading opportunities. VWAP (Volume Weighted Average Price) represents the average price of a stock, adjusted for the amount of trading volume at each price level throughout the day. Traders use it to assess whether the stock is overbought or oversold. On the other hand, FVG (Fair Value Gap) refers to gaps in price where the market has not fully adjusted or filled in, suggesting areas where price might return to a "fair value." The VWAP + FVG Detector helps traders spot moments when the price moves away from the VWAP and into an FVG, signaling possible price corrections or reversals. This combination allows traders to predict potential price movements, as the market often moves back toward the VWAP or fills in the gaps where price has been imbalanced.
Bondar Drive v2.1Title: Bondar Drive v2.1 — Real-time print and delta tick volume visualization
Description:
Bondar Drive v2.1 is a tool for visualizing real-time order flow data. It highlights price movements and volume deltas in an intuitive, easy-to-read format. Indicator can be used in conjunction with the Anchored Volume Profile and Volume Footprint (Type: Total).
Features:
Real-Time Print Visualization:
Displays order flow prints with delta colors for buy/sell dominance.
Adjustable size and transparency for varying order thresholds.
Volume Delta Analysis:
Categorizes orders into Tiny, Small, Session, Large, and Huge based on user-defined thresholds.
Provides a tooltip showing order time and price.
Customizable Time Range:
Keeps prints visible for a specified duration (in seconds).
Flexible User Inputs:
Adjustable time zones, print sizes, starting bar index, and volume thresholds.
Visual Enhancements:
Line connections between prints show progression of orders and market direction.
How It Works:
The indicator gathers volume delta and price data in real time.
It dynamically displays circular labels with varying sizes and colors, reflecting the size and type of orders. Labels and lines are automatically removed after the specified time range, ensuring a clean and uncluttered chart.
Customization Options:
Number of Prints: Control how many prints are displayed.
Order Size Filters: Exclude small trades to highlight significant orders.
Color Options: Customize print colors, text, and connecting lines.
Time Offset: Adjust for your local time zone.
Use Cases:
Identify order flow imbalances and price levels dominated by buyers or sellers.
Track the progression of large orders for better trade execution.
Spot market reversals and momentum shifts using real-time prints and delta.
Dynamic Buy/Sell VisualizationDynamic Trend Visualization Indicator
Description:
This simple and easy to use indicator has helped me stay in trades longer.
This indicator is designed to visually represent potential buy and sell signals based on the crossover of two Simple Moving Averages (SMA). It's crafted to assist traders in identifying trend directions in a straightforward manner, making it an excellent tool for both beginners and experienced traders.
Features:
Customizable Moving Averages: Users can adjust the period length for both short-term (default: 10) and long-term (default: 50) SMAs to suit their trading strategy.
Visual Signals: Dynamic lines appear at the points of SMA crossover, with labels to indicate 'BUY' or 'SELL' opportunities.
Color and Style Customization: Customize the appearance of the buy and sell lines for better chart readability.
Alert Functionality: Alerts are set up to notify users when a crossover indicating a buy or sell condition occurs.
How It Works:
A 'BUY' signal is generated when the short-term SMA crosses above the long-term SMA, suggesting an upward trend.
A 'SELL' signal is indicated when the short-term SMA crosses below the long-term SMA, pointing to a potential downward trend.
Use Cases:
Trend Following: Ideal for markets with clear trends. For example, if trading EUR/USD on a daily chart, setting the short SMA to 10 days and the long SMA to 50 days might help in capturing longer-term trends.
Scalping: In a volatile market, setting shorter periods (e.g., 5 for short SMA and 20 for long SMA) might catch quicker trend changes, suitable for scalping.
Examples of how to use
* Short-term for Quick Trades:
SMA 5 and SMA 21:
Purpose: This combination is tailored for day traders or those looking to engage in scalping. The 5 SMA will react rapidly to price changes, providing early signals for buy or sell opportunities. The 21 SMA, being a Fibonacci number, offers a slightly longer-term view to confirm the short-term trend, helping to filter out minor fluctuations that might lead to false signals.
* Middle-term for Swing Trading:
SMA 10 and SMA 50:
Purpose: Suited for swing traders who aim to capitalize on medium-term trends. The 10 SMA picks up on immediate market movements, while the 50 SMA gives insight into the medium-term direction. This setup helps in identifying when a short-term trend aligns with a longer-term trend, providing a good balance for trades that might last several days to a couple of weeks.
* Long-term Trading:
SMA 50 and SMA 200:
Purpose: Investors focusing on long-term trends would benefit from this pair. The crossover of the 50 SMA over the 200 SMA can indicate the beginning or end of major market trends, ideal for making decisions about long-term holdings that might span months or years.
Example Strategy if not using the Buy / Sell Label Alerts:
Entry Signal: Enter a long position when the shorter SMA crosses above the longer SMA. For example:
SMA 10 crosses above SMA 50 for a medium-term bullish signal.
Exit Signal: Consider exiting or initiating a short position when:
SMA 10 crosses below SMA 50, suggesting a bearish turn in the medium-term trend.
Confirmation: Use these crossovers in conjunction with other indicators like volume or momentum indicators for better confirmation. For instance, if you're using the 5/21 combination, look for volume spikes on crossovers to confirm the move's strength.
When Not to Use:
Sideways or Range-Bound Markets: The indicator might generate many false signals in a non-trending market, leading to potential losses.
High Volatility Without Clear Trends: Rapid price movements without a consistent direction can result in misleading crossovers.
As a Standalone Tool: It should not be used in isolation. Combining with other indicators like RSI or MACD for confirmation can enhance trading decisions.
Practical Example:
Buy Signal: If you're watching Apple Inc. (AAPL) on a weekly chart, a crossover where the 10-week SMA moves above the 50-week SMA could suggest a buying opportunity, especially if confirmed by volume increase or other technical indicators.
Sell Signal: Conversely, if the 10-week SMA dips below the 50-week SMA, it might be time to consider selling, particularly if other bearish signals are present.
Conclusion:
The "Dynamic Trend Visualization" indicator provides a visual aid for trend-following strategies, offering customization and alert features to streamline the trading process. However, it's crucial to use this in conjunction with other analysis methods to mitigate the risks of false signals or market anomalies.
Legal Disclaimer:
This indicator is for educational purposes only. It does not guarantee profits or provide investment advice. Trading involves risk; please conduct thorough or consult with a financial advisor. The creator is not responsible for any losses incurred. By using this indicator, you agree to these terms.
First Candle High Low LevelsDescription
The "First Candle High Low Levels" Pine Script indicator is designed to highlight the high and low levels of the first candle of the day on your TradingView chart. It works across different timeframes and specifically handles the Indian stock market trading hours (9:15 AM to 3:30 PM IST). The script draws a box from the start to the end of the trading session, visually marking the price range defined by the first candle of the day. Traders can customize the box's border color, fill color, and line width.
Features
Customizable Timeframe: Users can select the desired timeframe for the first candle (e.g., 5-minute, 15-minute, etc.).
Custom Box Appearance: Options to adjust the border color, fill color, and line width of the drawn box.
Auto Reset for Each New Day: The high and low of the first candle are reset daily to mark the start of the next trading day.
Accurate Market Session Handling: The box is drawn from the start of the first candle to the end of the trading session (3:30 PM IST).
Usage
Adding to Chart: Apply the script by copying it into the Pine Script editor in TradingView. Once added, the script will automatically draw a box representing the high and low of the first candle of the day.
Select Timeframe: You can adjust the First Candle Timeframe input to define which timeframe candle will be used for marking the high and low. For example, if you choose a 5-minute timeframe, the high and low of the first 5-minute candle will be used.
Customization:
Adjust the Border Color and Box Fill Color through the input settings to match your chart's style.
Modify the Box Line Width to make the box lines more or less prominent.
Thrax - QuickStrike 5-Mins Scalping** Indicator Description **
1. Price Change Threshold (%) – The minimum price change required for a candle to be recognized as significant. Candles exceeding this threshold are considered potential candidates for zone creation. Default value for 5 min is 0.5%. As you move on higher timeframe the threshold should increase
2. Percentage Change for Zones (%) – The amount of price movement needed to form a dynamic support or resistance zone. Tweak this to control how sensitive the indicator is to price fluctuations. 5 min default value is 1%. For 15 min suggested is 2-3%.
3. Break Threshold for Zones (%) – Defines how much price must break above or below a zone for it to be removed from the chart/mitigated. Keeps the chart clean by removing invalidated zones. Default value is 0.1% in 5 min, for 15 min it is 0.5%.
4. Buy Zone Retracement Level (%) – The percentage retracement level for defining the inner buy zone within a broader bullish zone. Ideal for timing precision entries. Ideal value is 75%
5. Sell Zone Retracement Level (%) – The percentage retracement level used to determine the inner sell zone within a larger bearish zone. Helps in identifying potential reversal areas or exits. Ideal value is 25%
By tailoring these inputs, traders can fully customize the indicator to suit their scalping strategies, enhancing their ability to navigate fast-moving markets with confidence.
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There are two primary approaches for scalping using this indicator:
1. Candle-Based Scalping:
a. Bullish Signal: When you observe a bullish candle highlighted in blue (by default), you can consider entering a long position at the close of this candle. It’s advisable to wait for the candle to close before taking action. For a more aggressive scalp, you might take profits based on your scalp target after a few subsequent candles. If the price remains stagnant or moves unfavorably in the next few candles, you can exit with a small loss. Alternatively, if you have a higher risk tolerance, you may hold the position even if the price initially declines within a set percentage.
b. Bearish Signal: For a bearish candle highlighted in yellow, you can enter a short trade at the close of the candle. Similar to the bullish setup, you have the option to exit after a few candles if the price doesn’t move as expected or hold the position with a higher risk tolerance if the price goes up initially.
2. Zone-Based Scalping:
Entering Zones: Monitor the price as it enters a defined support or resistance zone. If you are open to higher risk, you can enter a trade immediately upon the price entering the zone. For a more cautious approach with a smaller stop loss, wait for the price to reach a retracement level within the zone before initiating your trade. This approach allows for a more precise entry but may result in missing out on trades if the price reverses before hitting the retracement level. Conversely, entering at the zone’s boundary offers the potential for early trade capture but comes with a higher stop loss risk.
Adjust these strategies based on your risk tolerance and trading preferences to optimize your scalping opportunities.
Heikin Ashi Price DetectionThis script performs custom calculations for both bullish and bearish bars, providing a numerical result that can be used to gauge price movements and potential trading signals.
How It Works
Bullish Bars:
Calculates the absolute difference between the open and low prices (BullOpenLow).
Calculates the absolute difference between the high and close prices (BullHighClose).
Compares BullOpenLow and BullHighClose:
If BullOpenLow is greater, the difference is divided by BullOpenLow.
If BullHighClose is greater, the difference is divided by BullHighClose.
The result is normalized to a percentage and subtracted from 100 to produce a final value.
Bearish Bars:
Calculates the absolute difference between the close and low prices (BearCloseLow).
Calculates the absolute difference between the high and open prices (BearHighOpen).
Compares BearCloseLow and BearHighOpen:
If BearCloseLow is greater, the difference is divided by BearCloseLow.
If BearHighOpen is greater, the difference is divided by BearHighOpen.
The result is normalized to a percentage and subtracted from 100 to produce a final value.
Key Features
Bullish and Bearish Calculations: The script identifies bullish and bearish bars and applies separate calculations to each.
Normalized Results: The calculations provide a normalized result that can be easily interpreted.
Visual Representation: Results are plotted on the chart for quick visual reference.
Buy-Sell Volume Bar Gauge [By MUQWISHI]▋ INTRODUCTION :
The Buy-Sell Volume Bar Gauge is developed to provide traders with a detailed analysis of volume in bars using a low timeframe, such as a 1-second interval, to measure the dominance of buy and sell for each bar. By highlighting the balance between buying and selling activities, the Buy-Sell Volume Bar Gauge helps traders identify potential volume momentum of a bar; aimed at being a useful tool for day traders and scalpers.
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▋ OVERVIEW:
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▋ METHODOLOGY:
The concept is based on bars from a lower timeframe within the current chart timeframe bar, where volume is categorized into Up, Down, and Neutral Volume, with each one displayed as a portion of a column plot. Up Volume is recorded when the price experiences a positive change, Down Volume occurs when the price experiences a negative change, and Neutral Volume is observed when the price shows no significant change.
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▋ INDICATOR SETTINGS:
(1) Fetch data from the selected lower timeframe. Note: If the selected timeframe is invalid (higher than chart), the indicator will automatically switch to 1 second.
(2) Price Source.
(3) Treating Neutral Data (Price Source) as
Neutral: In a lower timeframe, when the bar has no change in its price, the volume is counted as Neutral Volume.
Previous Move: In a lower timeframe, when the bar has no change in its price, the volume is counted as the previous change; “Up Volume” if the previous change was positive, and “Down Volume” if the previous change was negative.
Opposite Previous Move: In a lower timeframe, when the bar has no change in its price, the volume is counted as the opposite previous change; “Up Volume” if the previous change was negative, and “Down Volume” if the previous change was positive.
(4) Average Volume Length, it's used for lighting/darkening columns in a plot.
(5) Enable Alert.
(7) Total bought (%) Level.
(8) Total Sold (%) Level.
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▋ COMMENT:
The Buy-Sell Volume Bar Gauge can be taken as confirmation for predicting the next move, but it should not be considered a major factor in making a trading decision.
BINANCE-BYBIT Cross Chart: Spot-Perpetual CorrelationName: "Binance-Bybit Cross Chart: Spot-Perpetual Correlation"
Category: Scalping, Trend Analysis
Timeframe: 1M, 5M, 30M, 1D (depending on the specific technique)
Technical analysis: This indicator facilitates a comparison between the price movements shown on the Binance spot chart and the Bybit perpetual chart, with the aim of discerning the correlation between the two charts and identifying the dominant market trends. It automatically generates the corresponding chart based on the ticker selected in the primary chart. When a Binance pair is selected in the main chart, the indicator replicates the Bybit perpetual chart for the same pair and timeframe, and vice versa, selecting the Bybit perpetual chart as the primary chart generates the Binance spot chart.
Suggested use: You can utilize this tool to conduct altcoin trading on Binance or Bybit, facilitating the comparison of price actions and real-time monitoring of trigger point sensitivity across both exchanges. We recommend prioritizing the Binance Spot chart in the main panel due to its typically longer historical data availability compared to Bybit.
The primary objective is to efficiently and automatically manage the following three aspects:
- Data history analysis for higher timeframes, leveraging the extensive historical data of the Binance spot market. Variations in indicators such as slow moving averages may arise due to differences in historical data between exchanges.
- Assessment of coin liquidity on both exchanges by observing candlestick consistency on smaller timeframes or the absence of gaps. In the crypto market, clean charts devoid of gaps indicate dominance and offer enhanced reliability.
- Identification of precise trigger point levels, including daily, previous day, or previous week highs and lows, which serve as sensitive areas for breakout or reversal operations.
All-Time High (ATH) and All-Time Low (ATL) levels may vary significantly across exchanges due to disparities in historical data series.
This tool empowers traders to make informed decisions by leveraging historical data, liquidity insights, and precise trigger point identification across Binance Spot and Bybit Perpetual market.
Configuration:
EMA length:
- EMA 1: Default 5, user configurable
- EMA 2: Default 10, user configurable
- EMA 3: Default 60, user configurable
- EMA 4: Default 223, user configurable
- Additional Average: Optional display of an additional average, such as a 20-period average.
Chart Elements:
- Session separator: Indicates the beginning of the current session (in blue)
- Background: Indicates an uptrend (60 > 223) with a green background and a downtrend (60 < 223) with a red background.
Instruments:
- EMA Daily: Shows daily averages on an intraday timeframe.
- EMA levels 1h - 30m: Shows the levels of the 1g-30m EMAs.
- EMA Levels Highest TF: Provides the option to select additional EMA levels from the major timeframes, customizable via the drop-down menu.
- "Hammer Detector: Marks hammers with a green triangle and inverted hammers with a red triangle on the chart
- "Azzeramento" signal on TF > 30m: Indicates a small candlestick on the EMA after a dump.
- "No Fomo" signal on TF < 30m: Indicates a hyperextended movement.
Trigger Points:
- Today's highs and lows: Shows the opening price of the day's candlestick, along with the day's highs and lows (high in purple, low in red, open in green).
- Yesterday's highs and lows: Displays the opening price of the daily candlestick, along with the previous day's highs and lows (high in yellow, low in red).
You can customize the colors in "Settings" > "Style".
It is best used with the Scalping The Bull indicator on the main panel.
Credits:
@tumiza999: for tests and suggestions.
Thanks for your attention, happy to support the TradingView community.
Volume Footprint Voids [BigBeluga]Volume Footprint Voids is a unique tool that uses lower timeframe calculation to plot different styles of single candle POC.
This indicator is very powerful for scalping and finding very precise entry and exits, spotting potential trapped traders, and more.
Unlike many other volume profiles, this aims to plot single candle profiles as well as their own footprints.
🔶 FEATURES
The script includes the following settings:
Windows: Plotting style and calculations
Coloring modes
Display modes
lower-timeframe calculations
🔶 CALCULATION
In the image above we can see how the script calculates each level position that will serve as a calculation process to see how much volume/closes there are within the levels.
In the image above, we can have a more clear example of how we count each candle close.
We use the prior screenshot as an example, after setting each level we will use the lower-timeframe input to measure the amount of closes within the ranges.
Depending on the lot size, the box will be larger or smaller, usually the POC will always have the highest box size.
NOTE: Size is the starting point, always from the low of the candle.
To find more voids, select a closer LTF to the current one you're using.
To find fewer voids, select a timeframe away from your current one.
Due to Pine Script limitations, we are only able to plot a certain amount of footprints, and we can't plot the whole history chart.
POC will be the largest block displayed, indicating the time point of control
Gray areas are closes above the average
Black are Void or imbalance that price will fill in the future, like FVG
The image above shows an incorrect size input that will lead to bad calculations, while on the other side, a correct size input that will lead to a clear vision and better calculation.
🔶 WINDOWS
The "▲▼" Mode will display delta buyers and delta sellers coloring with voids as black.
It also offers a gradient mode for a beautier visualization
The "Total Volume" mode will display the net volume within the lot size (closes within the levels).
This is useful to spot possible highest net volume within the same highest lot size.
The "POC + Gaps" will show both POC and Gaps as the highest block while all the rest will be considered as the smaller block.
This is useful to see where the highest lot were and if there are higher or lower imbalances within the candle
The last option "Gaps" will simply display the gaps as the highest block, while the POC as the lowest block.
This is useful to have a better view of the gaps areas
🔶 EXAMPLE
This is one of the most basic examples of how this script can be used. POC at the bottom creating a strong support area as price holds and creates higher voids gap that price fills while rising.
🔶 SETTINGS
Users have full control over the script, from colors to choosing the lower-timeframe inputs to disabling the lot size.
GOLD MonitorI'm using this platform from sometime and I carry out trading on Gold, using a kind of scalping strategy.
Scalping is not an easy task to do. Personally I found a lot of problems while detecting the trend direction.
So I decided to develop an indicator that is capable, in a discrete way, to give an instant-view on the market that is interesting.
This indicator can summarize in a small table all interesting figures related to gold scalping trading and is useful while joined with technical and fundamental analysis.
In this way it is possible to easy take under control all important aspects related to gold trading that I summarize here and you can find inside the table:
1) Gold / USD current direction
2) USD dollar strength (instant DXY) indicator take under consideration the DXY value every each tick and measures the increase or decrease in percentage. If there is a decrease the indicator displays a red low arrow, if there is an increase the indicator displays a green high arrow
also Gold friends are important so it is possible to find also:
3) NZDUSD (that is a Gold friend) variation percentage. If there is a decrease the indicator displays a red low arrow, if there is an increase the indicator displays a green high arrow
4) AUDUSD (that is a Gold friend) variation percentage. If there is a decrease the indicator displays a red low arrow, if there is an increase the indicator displays a green high arrow
then it is possible to find DXY USD dollar strength calculated between previous period (e.g. in timeframe M5 last 5 minutes) and current period (current 5 minutes). This indication is represented by an high arrow if there has been an increase, or by an low arrow if there has been a decrease.
Last but not least the information about the Gold trend itself with the possible forecast for the current period. This information must be carefully interpreted together with other instruments for technical analysis like Fibonacci lines.
"Daily Range with Filtre [Hunter_Algo]
- The script calculates the high and low ranges based on the specified session time, such as the Asia Liquidity session.
- It uses the timeinrange function to determine if the current bar is within the specified session.
- High and low values are updated based on whether the current high or low surpasses the previous values within the specified session.
- The script includes functions to convert day strings to integers and style strings to enumeration values.
- There are additional inputs related to the start and end of the day range, as well as colors and styles for various elements.
- The script calculates daily high (Dh), daily low (Dl), and other variables based on certain conditions, including the day of the week.
buyer_seller_scalping_indicatorThis code is a custom script designed for analyzing trading volume within a specific time window on the TradingView platform. It offers a comprehensive analysis of buying and selling activity during a defined period and provides visual aids and data summaries for traders to make informed decisions. Here's a detailed breakdown of its functionality and how to use it:
1. Custom Time Period: The script starts by allowing you to specify a custom time period for analysis. In this example, it's set from 04:00 to 09:29. You can modify these time values to suit your specific trading needs.
2. Volume Calculation: The script calculates buying and selling volume based on price levels. It takes into account the open, high, low, and close prices to determine whether buying or selling pressure is dominant during the specified time frame.
3. Total Volume Calculation: It calculates the total volume within the custom time period. This can help you gauge the overall activity and liquidity during the chosen time window.
4. Visualizations: The script then plots visual elements on the chart:
- A volume histogram, which provides a graphical representation of the total volume during the time period.
- Buying and selling volume indicators, which are shown as circles on the chart, highlighting the relative strength of buyers and sellers.
- An average volume line, represented in gray, which helps you identify the average trading volume over a 50-period moving average.
5. Volume Type Determination: The script determines whether buyers or sellers dominate the market during the specified time period. It labels this as "Buyers Volume > Sellers Volume," "Sellers Volume > Buyers Volume," or "Buyers Volume = Sellers Volume." This information can be crucial for assessing market sentiment.
6. Percentage Breakdown: The script calculates the percentage of buying and selling volume in relation to the total volume, helping you understand the distribution of market participants. These percentages are displayed in a table.
7. Table Display: Finally, the script creates a table that displays the following information:
- The current volume type (buyers, sellers, or balanced), with corresponding text colors.
- The percentage of buyers and sellers in the market.
How to Use:
1. Copy the script and add it as a custom script on TradingView.
2. Apply the script to your desired financial chart.
3. Adjust the custom time period if needed.
4. Interpret the visual elements and table to gain insights into market sentiment and volume distribution during the specified time frame.
5. Use this information to inform your trading decisions and strategies, especially when trading within the chosen time window.
This script is a valuable tool for traders seeking to understand market dynamics and volume behavior during specific trading hours, ultimately aiding in more informed trading decisions.
Disclaimer:
The indicator provided herein is experimental and has not undergone comprehensive testing. Its usage is solely at your own risk.
The publisher assumes no responsibility for any trading decisions made based on the utilization of this indicator.
RenkoIndicatorIntroduction:
The Renko Indicator is a powerful tool designed to help traders identify trends and potential trade opportunities in the financial markets. This indicator overlays a Renko chart on the main price chart and generates Buy and Sell signals based on Renko brick movements. Renko charts are unique in that they focus solely on price movements, ignoring the element of time. In this guide, we will walk you through how to use the Renko Indicator effectively in your trading strategy.
Indicator Components:
The Renko Indicator consists of several components, each serving a specific purpose in aiding your trading decisions.
Market Sentiment Calculation:
At the top of the script, the indicator calculates market sentiment by analyzing recent price action. It determines whether the market sentiment is Bullish, Bearish, or Neutral based on the highest and lowest prices within specific time periods. This information provides you with a broader context for potential trading decisions.
Renko Chart Creation:
The indicator creates a Renko chart overlay on the main price chart using the Average True Range (ATR) method. ATR is used to calculate the brick size for the Renko chart, allowing you to adjust the sensitivity of the chart to price movements.
Renko Open and Close Midpoint:
The script plots the midpoint of Renko open and close prices as a line on the main chart. This visualization helps you understand the direction of Renko bricks and identify trends.
Buy and Sell Signal Generation:
The script generates Buy and Sell signals as label shapes on the chart. A Buy signal is generated when the Renko close price crosses above the Renko open price, indicating potential upward momentum. Conversely, a Sell signal is generated when the Renko close price crosses below the Renko open price, suggesting potential downward momentum.
Alert Conditions:
To ensure you never miss a trading opportunity, the script sets up alert conditions for Buy and Sell signals. These alerts notify you when the specified conditions for potential trades are met. Alerts can be customized to your preference, allowing you to receive notifications via your chosen communication channels.
How to Use the Renko Indicator:
Market Sentiment Analysis:
Start by analyzing the calculated market sentiment. This information helps you understand the broader trend in the market. A Bullish sentiment indicates potential upward movement, a Bearish sentiment suggests potential downward movement, and a Neutral sentiment signals uncertainty.
Renko Chart Interpretation:
Observe the Renko chart overlay and its midpoint line. Upward-trending Renko bricks suggest Bullish momentum, while downward-trending bricks indicate Bearish momentum. Use the Renko chart to identify trends and confirm your trading bias.
Buy and Sell Signals:
Pay close attention to the Buy and Sell signals generated by the indicator. A Buy signal occurs when the Renko close price crosses above the Renko open price. Conversely, a Sell signal occurs when the Renko close price crosses below the Renko open price. These signals highlight potential entry points for trades.
Alert Notifications:
Make use of the alert conditions to receive real-time notifications for Buy and Sell signals. Alerts help you stay informed even when you're not actively watching the charts, allowing you to promptly take action on potential trade opportunities.
Risk Management and Considerations:
Confirmation: While the Renko Indicator provides valuable insights, it's crucial to use it in conjunction with other technical and fundamental analysis tools for confirmation.
Backtesting: Before implementing the indicator in live trading, conduct thorough backtesting on historical data to assess its performance and suitability for your trading strategy.
Position Sizing: Determine appropriate position sizes based on your risk tolerance and the signals provided by the indicator. Avoid overleveraging your trades.
Market Conditions: Be mindful of market conditions and news events that could impact price movements. Use the Renko Indicator as a tool to enhance your decision-making process, not as a standalone strategy.
Conclusion:
The Renko Indicator offers a unique perspective on price movements and can be a valuable addition to your trading toolkit. By analyzing market sentiment, interpreting Renko chart patterns, and acting on Buy and Sell signals, you can make informed trading decisions. Remember to practice proper risk management and integrate the Renko Indicator into a comprehensive trading strategy to achieve consistent and successful trading outcomes.
OSPL Volume [Community Edition]NSE:BANKNIFTY1!
This indicator is based on the concepts popularized by @OptionsScalper123 "Siva" of OiPulse. His ideology Is that large moves come after high volume candles. For Nifty, high volume is considered to be a candle above 125k volume and for BankNifty it’s 50k.
This indicator allows you to cut the noise and focus only on the high volume candle. It shows high volume candle in a brighter shade and lower volume candles in a less visible shade.
You can set the minimum volume threshold limit for Nifty and BankNifty. The indicator smartly recognizes which index you are using it in and uses the respective threshold volume limit.
All colors are customizable.
Thanks for Siva for all the ideas and wonderful products he has given to the community
Thanks to all the wonderful Pinescipters for developing awesome indicators and keeping the source open.
The source code of this indicator is just a few lines. Hope you can use it in your projects and learn something from this just how I learned from other scripts.
Any changes or updates needed in this indicator, please suggest. I was thinking some kind of alerts can be added when volume crosses the threshold. Let me know.
Boost/like this indicator and comment if you find this useful. Cheers and happy trading!!!
Scalp Pump-Dump Detector with AlertsThis script displays the percentage of movement of all candles on the chart, as well as identifying abnormal movements to which you can attach alerts. An abnormal movement is considered a rise or fall that exceeds the parameter set in the settings (by default, 1% per 1 bar).
Added a function to display the volume on abnormal candlesticks.
Trading Session TemplateDescription:
The Trading Session Template Indicator is a powerful script that allows traders to customize their own trading session time range on a chart. With this indicator, you have the flexibility to define specific hours during which you prefer to focus your trading activities. The example chart showcases the New York session hours, but you can easily adapt it to any desired time range based on your trading strategy and preferences.
Key Features:
Customizable Trading Session: The indicator empowers you to define your own trading session time range, tailored to your preferred market sessions or specific trading hours. This flexibility ensures that the indicator aligns with your unique trading strategy.
Highlighted Trading Session: When a new trading day begins, the script automatically scans for the specified time range. Once the first candle within the range begins printing, the background color of the chart is highlighted, indicating the beginning of the trading session. When the last candle within the range is closed, the background color returns to normal.
Focus on Specific Market Sessions: This indicator is particularly useful for traders who prefer to trade certain market sessions or specific hours during the day. By customizing the trading session, you can better align your trading activities with specific market conditions and trading opportunities.
Candle Pattern Detection: The indicator includes the ability to detect candle patterns such as Doji, Engulfing, Hammer, and Shooting Star. You can activate the desired candle patterns and set up alerts for them. When an alert is triggered, indicating the formation of a specific candle pattern, you can further analyze the market and make informed trading decisions.
ATR Filter: The indicator offers an ATR (Average True Range) filter to limit noise and focus on candle patterns with a size comparable to the ATR. You can set a minimum and maximum size for a candle compared to the ATR. This helps you filter out smaller or larger candles that may not align with your trading preferences.
Stop Loss (SL) and Take Profit (TP) Levels: When a candle pattern is detected, based on the ATR, the indicator can display suggested Stop Loss and Take Profit levels. This feature provides additional guidance for risk management and potential profit targets.
User-Friendly Interface: The indicator provides a user-friendly interface with adjustable settings and switches for customization. Tooltips are available to guide you through the various options and configurations, making it easy to adapt the indicator to your trading style and preferences.
Note:
The Trading Session Template Indicator is designed for timeframes lower than 1D. It does not plot any information on timeframes of 1D and higher.
Disclaimer:
The Trading Session Template Indicator is provided for informational and educational purposes only. Trading in the financial markets involves risk, and you should only trade with funds that you can afford to lose. The indicator's past performance is not indicative of future results. Always conduct your own research and due diligence before making any investment decisions. The creator of this indicator shall not be held responsible for any losses or damages incurred from the use of this indicator.
3 Fib EMAs To Scalp Them AllThe "3 Fib EMAs To Scalp Them All" was made in order to clear up when we should look for shorts, longs, or walk away. Also it can alert you when a trend starts, or when there is a possible reversal. I use it for scalping/day trading in 5m-1h timeframes.
1. EMAs: By default, the indicator uses Fibonacci numbers (21, 55, 233), but you can change them.
2. Color Changes: The color of the Micro EMA line changes depending on its relation to the Mid and Macro EMAs.
When Micro EMA < Mid < Macro EMA, it turns red, indicating a potential bearish trend - that's when you should look for shorts
When Micro EMA > Mid > Macro EMA, it turns green, indicating a potential bullish trend - that's when you should look for longs
A white Micro EMA is when you need to take some rest, enjoy your coffee, and avoid overtrading.
3. Signals: The indicator provides visual signals in the form of diamonds and crosses and corresponding alert signals.
A red diamond above the bar signals a potential beginning of a downtrend
A red cross above the bar signals the end of the downtrend and can be used as a signal for a possible reversal up/breakout.
A green diamond below the bar signals a potential beginning of a downtrend,
A green cross below the bar signals the end of the uptrend and can be used as a signal for a possible reversal down/breakout.
4. Alerts: For algo traders and people who prefer to stay away from the monitor... there are alerts for every signal.
Friendly note: Don't blindly follow the signals for your long and short entries. The signals only pop up when the EMA cross value gets a confirmation. A smart move would be to wait for a retracement to the EMA line and use momentum indicators like market cipher B to pinpoint those ideal entry points.
LNL Scalper ArrowsLNL Scalper Arrows
The indicator consist of various different types of candlestick patterns that are truly time tested by multiple veteran traders. These arrows are a combination of short-term scalping strategies taught by Linda Raschke & a trader that goes by name Quant Trade Edge. These strategies/patterns occur regularly within the markets. They offer high probability quick moves during the trending days. These four patterns are based on pure price action, no oscillators, no trend, no momentum indicators involved. Trend (ema) is there just as a simple trend gauge.
LNL Scalper Arrows were designed specifically for intra-day trading. Mostly useful for the futures but also stocks as well. These arrows can work anywhere between the fast-moving 512 or 1600 tick charts to a 1min, 2min and up to 5min or 10min charts.
Trend Gauge (Exponential Moving Average)
Nothing fancy just a classic EMA that can guide the direction of the short-term trend. I have added a custom coloring of the EMA that is based on a simple RSI filter. That should help to visualize the non-directional moments within the trend. Although the length is adjustable, for scalping it is better to focus on smaller periods such as 9, 13 or 20 or 34 but anything above 50 loses its purpose as a short-term trend gauge. Again, this is a scalping tool not a trend tool, you are not going to get rid of the fakeouts by increasing the period of the trend.
Tail Arrows (Eat the Tail Pattern)
Tail is a candlestick that is either a price rejection spike, or a flag continuation pattern on a lower time frame. A failed action. It is basically a candle with much bigger wick (shadow) of the candle than the actual body. Such candles are usually telling us about strong participation from the other side of the market. Eat the tail pattern occurs whenever the low of the Tail candle is immediately broken on a following candle "the tail is eaten alive". Such a breaks occurs in a most aggressive types of markets with a strong momentum. DO NOT try to trade this in a low volume or a ranging market. Tail Arrows are the most aggressive arrows & should be only used on the highest volume or a parabolic momentum markets.
Scalp Arrows (Scallop Pattern)
Known as Scallops or minor lows or highs, these patterns are the most common within the all scalper arrows. They occur regularly on 1min & 5min charts - basically everyday. Scallops provide the best possible risk to reward entry within the trend without the need of any indicators or oscillators. The Scallop Up 3 bar pattern consist of a high that is lower that the previous high but also low that is lower than the previous low. Scallop Up or a minor low triggers when the last high is broken, creating a three bar mountain or a peak within the 5 bar span.
Hoagie Arrows (Hoagie Pattern)
Hoagies occur way less often than any other scalping patterns. Hoagies represent two (or more) inside candles within the shadow of a first candle. Such a formation is creating a small compression or a range that sooner or later breaks out. The hoagie is triggered whenever the high or low of the shadow (first) candle is broken. The great thing about the hoagies is that they can work either way despite the trend direction. Although this indicator is coded for the 2 bar hoagies, there are no limitations on how much inside bars can hoagie include.
Umbrella Arrows (Umbrella Pattern)
Another really awesome 3 bar pattern that is really fun to trade. Umbrella occurs when the candle before the previous candle is a pin bar or a tail bar and the body of the previous candle is within the shadow or a wick of the candle before. The umbrella is triggered once the high or low of the previous bar is broken. Umbrellas are more frequent than Hoagies but occur much less than the Scallops.
Outside Bar Wedges (Outside Bar Pattern)
Pretty much self-explanatory candlestick pattern. Outside Bar is basically any bar that peaks outside of the both ends of the previous candle. So the range of the candle is higher & it looked beyond the high and beyond the low of the previous candle. These candles are signalizing the potenial momentum change. Ouside Bars usually occur at the tops or bottoms of the moves. I decided to add them because they can serve as a great addition to these scalping patterns.
Signal vs. SignalBreak Mode
The trigger can be viewed in two different ways:
1. Signal: Plots the trigger before the trigger bar, basically right when the pattern is formed but NOT YET triggered. The signal is triggered once the next candle break the high or low of the current candle.
2. SignalBrake: Plots the trigger after the break of the high or low of the actual pattern. It is basically a candle after the signal candle. (Signal is better for trading because it gives you time to prepare for the actual break of the high or low = the actual signal. SignalBrake is great for looking back in history only for the patterns that actually traded).
Pin Bar BTW Ratio
Pin Bar (Body-To-Wick) Ratio represents the size of the body of a pin bar candle for Eat the Tail and Umbrella patterns. Pin Bar BTW Ratio measures the ratio between the wick & the body of the candle. Ref. interval is 2.0 - 5.0 (ideal pin bar is 2.0 - 3.0 = the wick or a shadow is 2x - 3x bigger than the body of the candle)
ATR Stop & Target Labels
I also created three simple labels (tables) that can show you the ideal target & stop as well as the current ATR. Since LNL Scalper Arrows consist of high probability scalping patterns, a good rule of thumb to follow is to use a half of the current ATR as a target and a current ATR as a stop (or two times the target). So if the current 7 period ATR is 30 the target would be 15 pts. and a stop around 30 pts. With such a risk management you should aim for a win rate 70% or higher. Obviously you can adjust the risk management in the settings to your personal preference.
Low Range vs. High Range Markets
There are two major downsides with the Scalper Arrows:
1. You need volume and a volatility. These patterns really do struggle in ranging "boring" sideways action. It is absolutely crucial to recognize the current market environment and really stay cautions and (or completely out) in case the chop continues. Adding something like DMI can help you recognize the potential flat markets.
2. Not only do you need volume & momentum, you also need a decent range. This indicator works better on a rangy market such as NQ futures or YM. But are much tougher to trade on lower range markets such as some stocks or ZB futures or basically any other lower range market.
Hope it helps.
NSDT Fair Value GapThis script is our version of the "Fair Value Gap".
A Fair Value Gap is nothing more than a series of 3 candles with a gap between a candle high/low and a candle high/low two candles prior.
For example:
A Gap Up - the Low of a candle is higher than the High of two candles back.
A Gap Down - the High of a candle is lower than the Low of two candles back.
Typically, on a Gap Up, the trader would wait for the price to re-enter the Gap, and take a Long position.
Typically, on a Gap Down, the trader would wait for the price to re-enter the Gap, and take a Short position.
We found that simply trading through the Gaps (fill the gap) produced a better result. So we reversed the procedure and the colors to show our suggested direction.
We have added inputs so the trader can determine the size of the Gaps to be plotted on the chart. A minimum and maximum can be set.
The number of Gaps to be displayed can be adjusted.
There is a option to remove Gaps that had been filled, to help keep a clean chart.
WillyCycle Oscillator&DoubleMa/ErkOzi/version 2This oscillator can be customized by adjusting the length of the Willy period, the length of Willy's EMA, and the upper and lower bands. The upper and lower bands help traders identify overbought and oversold conditions.
The WillyCycle Oscillator is a technical analysis tool used to measure the momentum of an asset and identify overbought and oversold conditions based on the price range of a specific period and calculating the percentage of the closing price in that range. The WillyCycle Oscillator consists of two main components: Willy and Willy's EMA. The Willy component is the percentage calculation of the asset's price range, and Willy's EMA is the exponential moving average of the Willy component. Willy's EMA is used to smooth out the Willy component and make it easier to identify trends.
*** When the oscillator is above the 80 level, it indicates that the asset is overbought, and when it is below the 20 level, it indicates that the asset is oversold. Traders can use these levels as a guide for buying and selling signals.
***Traders can also use the WillyCycle Oscillator to identify trend reversals. When the oscillator rises above the 50 level, it signals a potential uptrend, and when it falls below the 50 level, it signals a potential downtrend.
***I have added a smoothed line option to the WillyCycle Oscillator, which allows traders to see a more smoothed version of the oscillator. This option can be enabled by setting the 'smoothed' input to true. The default value for the smoothed line is 15.
***We have also changed the value range of the WillyCycle Oscillator from -100 to 100 to 0 to 100. This change was made to make the oscillator more user-friendly and easier to read.
In conclusion, the WillyCycle Oscillator is a versatile tool that can help traders identify potential trading opportunities and trend reversals. Traders can customize the oscillator to fit their trading style and preferences. Adding a smoothed line and changing the value range can enhance the user experience and make the oscillator easier to use.
Drip's 11am rule breakout/breakdown (OG)This indicator is based on Drippy2hard's 11:30 am (EST) rule.
In simple terms the rule states that:
If a trending stock makes a new high after 11:15-11:30am EST, there is a 75% chance of closing within 1% of High of day (HOD). Same applies for downtrend.
Please note:
Not all stocks will abide by this, this is backtested on stocks with avg daily volume > 2M and mostly mega cap stocks which have liquid option chains. The backtesting results show very promising results on $SPY/ $SPX so it is advised to trade $SPY/ $SPX using this indicator over any other stocks.
Although the name suggests 11 AM rule, the backtesting shows higher win rate for 11:30 AM so please select that option in the settings.
As always, no indicator is perfect and please follow your risk management and understand that indicators are tools to aid your trading and by no means they are supposed to work as intended in all scenarios
How the script works
1. A HOD/LOD zone is identified based on regular session (9:30am-11:30am) EST. Users can select cut off time to 11AM in the settings. These will be indicated on chart after 11/11:30pm depending on what user selected
2. If the stock breaks above the HOD and the ADX is showing strong momentum to upside then the candlesticks will start showing neon color, if the trend based on moving averages and candle closing is also bullish then the indicator will show trend arrows under the candle indicating to stay in the trade. Same applies for break below LOD, only the colors will change to represent downtrend.
3. An optional cloud is also shown if the trend is developed. The cloud can be used as trail stop or re entry point as long as it is displayed on chart
How to use the indicator in trading
In general, there are three scenarios which are trade worthy
1. If the stocks breaks out above the HOD zone and up trend develops or the stocks breaks below the LOD zone and downtrend develops. See images below
2. You can also use the LOD/HOD zone as demand/ supply if the Price action is range bound like this example below
Thanks for reading, please give thumbs up if you like using it! Please post comments on how to use it.
Setup 123 ScalperSetup 123 Scalper is characterized by a bottom (buy pattern formed by 3 candles where the 2nd has the lowest minimum) or a top (sell pattern formed by 3 candles where the 2nd has the highest maximum). It has a filter that only shows the signal when the asset is trending. Setup popularized by trader Alexandre Wolwacz (Stormer).
Na linguagem do autor:
O Setup 123 Scalper é caracterizado por um fundo (padrão de compra formado por 3 candles onde o 2º tem a menor mínima) ou um topo (padrão de venda formado por 3 candles onde o 2º tem a maior máxima). Possui um filtro em que só mostra o sinal quando o ativo está em tendência. Setup popularizado pelo trader Alexandre Wolwacz (Stormer).
